Purchasing stocks for credit without T+ rules

mohith · 1 Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 4:33 pm

mohith

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guys can we obtain shares for credit without any T+ rule?, If so what is the annual interest that we have to pay for the brokers? Question

Antonym · 2 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 4:41 pm

Antonym

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mohith wrote:guys can we obtain shares for credit without any T+ rule, If so what is the annual interest that we have to pay for the brokers?

@mohith: It depends on your broker; please check with him and share his response with us. However, I think brokers would decide on a specific credit period (instead of keeping it open-ended). Interest rates vary between 14% and 27%, from what I have heard.

Last edited by Antonym on Wed Aug 17, 2011 4:45 pm; edited 1 time in total (Reason for editing : A certain broker charges interest @ 27%!)

2011_NewComer · 3 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 4:55 pm

2011_NewComer

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My broker said, they will charge interest after T+3(as it was earlier). It's 24% for us.
Don't know the details, when to settle etc..

(Antonym - Why not join us on Chat Smile

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CHASE · 4 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 5:40 pm

CHASE

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2011_NewComer wrote:My broker said, they will charge interest after T+3(as it was earlier). It's 24% for us.
Don't know the details, when to settle etc..

(Antonym - Why not join us on Chat )

Who's your Broker?

2011_NewComer · 5 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 6:10 pm

2011_NewComer

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CHASE wrote:

2011_NewComer wrote:My broker said, they will charge interest after T+3(as it was earlier). It's 24% for us.
Don't know the details, when to settle etc..

Who's your Broker?

Capital Trust

econ · 6 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 6:12 pm

econ

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2011_NewComer wrote:

CHASE wrote:

2011_NewComer wrote:My broker said, they will charge interest after T+3(as it was earlier). It's 24% for us.
Don't know the details, when to settle etc..

Who's your Broker?

Capital Trust

They charged interest rate even before this news.

2011_NewComer · 7 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 6:15 pm

2011_NewComer

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econ wrote:

2011_NewComer wrote:

CHASE wrote:

2011_NewComer wrote:My broker said, they will charge interest after T+3(as it was earlier). It's 24% for us.
Don't know the details, when to settle etc..

Who's your Broker?

Capital Trust

They charged interest rate even before this news.

econ. yes. that's what I mentioned within brackets. Only difference now is no force selling on T+5

Smile

maalinda · 8 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 6:27 pm

maalinda

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i dont know the rate. but for 200K one broker firm charged me around 3200 for the last month.

maalinda · 9 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 6:28 pm

maalinda

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around 19% P.A i guess in my case. so it depends on broker. one time they told me 19 - 23 %

RDS · 10 Re: Purchasing stocks for credit without T+ rules Wed Aug 17, 2011 8:11 pm

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If u wise, u can deal with credit without intereset charge. Keep some part of PF to rotate. Last few months this was not work. Hope this work gud in coming months.