- I will not be able to trade for an extended period of time (say 2 months). Will I still be charged the Freedom Plan?
No, you will not be charged. Our policy is such that you will be debited the entire monthly amount at the beginning of every month. However, we will credit the entire amount to your account at the end of each month if there were no trades done for that particular month.
- What kind of margins do you offer?
Equity:We provide 5x exposure for all NSE and BSE securities that have products on the NSE-FO market. For other stocks that are not on this list but have a 20% circuit limit breaker, we provide 2x exposure. NSE F&O: Futures are allowed to trade on 50% of applicable (span plus exposure) margin. To carry forward the positions, the customer would need 100% of the applicable margin. So if you want purchase 1 lot of NIFTY futures valued at Rs. 2,50,000 (Rs. 5000 for 1 lot of 50 shares), you would need Rs. 12,875 (50% of margin) for intra-day applicable margin or Rs. 25,750 (100% of margin) if you want to carry-forward the position. Buying options require the full value of the premium while selling options require the full value of the applicable margin. Our margin files are available on dropbox.
- Does the Freedom Plan include Service Tax?
A service tax of 12.36% (Rs. 240.65) is applied to the 1947/- monthly charge. This totals to Rs. 2,187.65.
- Who is my DP (Depository Participant)?
All client shares are held by Infrastructure Leasing & Financial Services Limited (IL&FS), one of the first depository participants (DPs) to register with both NSDL (National Securities Depository Ltd.) and CDSL (Central Depository Services Ltd.). To learn more about ILFS’ Depository Services, please visit https://www.ilfsdp.com/depository.aspx
- How long does it take for my deposit to clear and to be used as tradeable margin on my account?
If the transfer is happening from a registered HDFC/Axis Bank via NSE NOW, the client will be given trading margins immediately. However, if the transfer is happening via NEFT or RTGS, we will need 3-4 hours to provide the margins.
- Do you also provide trading tips/investment strategies?
No. As an online broker, we believe in keeping costs as low as possible for our online customers. In order to do that, we believe in keeping overhead low and dedicating our operation costs towards top-notch customer service and platform stability.
- How long does it take for me to withdraw funds?
You may withdraw your funds through your Back-Office login. The withdrawal will be done via NEFT/RTGS and should be completed by the next working day subject to T+2 Settlement.
- What are the fees for depositing and withdrawing money from the account?
We do not levy any fees for depositing money to us. For withdrawals, RBI charges fees based on the amount you want to transfer.Using NEFT (RBI Circular):
- For transactions up to Rs 1 lakh – not exceeding Rs 5 (+ Service Tax)
- For transactions above Rs 1 lakh and up to Rs 2 lakhs – not exceeding Rs 15 (+ Service Tax)
- For transactions above Rs 2 lakhs – not exceeding Rs 25 (+ Service Tax)
Using RTGS (RBI Circular):
- Rs. 2 lakh to Rs. 5 lakh – not exceeding Rs. 30 per transaction.
- Above Rs. 5 lakh – not exceeding Rs. 55 per transaction.
- How will I be notified when I have received delivery shares in my account?
IL&FS will send you an SMS to the registered mobile number on your account as soon as the shares are received in your DP Account.
- What are your transaction costs?
Use our calculator to find out how much you would pay. Transaction costs include statutory and regulatory fees charged by the regulator and the exchanges. Using a sample amount of 50 lakh turnover done on the buy side and 50 lakh turnover done on the sell side for a total of 1 crore turnover, here is what your fees would be like:
Transaction costs for 1 crore turnover Fee Equity (Intraday) Equity (Delivery) Futures Options Securities Transaction Tax (STT) 1,250 12,500 850 850 Transaction Charges 1 350 350 230 8,000 Service Tax 42 42 28 960 Other Charges 2 211 1,001 210 239 Total Charges Rs 1,853 Rs 13,903 Rs 1,318 Rs 10,049
1. Transaction Charges are fees charged by the NSE/BSE, IL&FS Clearing, and the TG & Investor Protection Fund
2. Other charges include Stamp Duty, Edu. Cess, Higher Edu. Cess, SEBI Turnover Fees
- How much are your account opening fees?
Account opening fees are Rs. 250. If you want to open a demat account with IL&FS, they will charge you Rs. 700 (Rs. 300 for account opening, and Rs. 400 one year AMC in advance). If you only want to open an F&O account or already have a Demat account with a DP, you don’t have to open an account with IL&FS.
- My question is not answered here: What do I do?
Please send us an email at email@example.com or call us at +91-40-2004-1029. We would love to hear from you and answer your question.