Econo Broking Pvt. Ltd.
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Need Help? Below are the Frequently Asked Questions that would help in many things like account opening, fund transferring, trading, etc. and if you have any other questions then don’t be reserved to ask us. We are here to make your trading experience easy and effective.
Yes, we do provide a facility of life time activation where the user doesn’t need to pay the account maintenance charge every year.
The charges for opening an account for life time is Rs. 1358 that includes Rs. 100 for opening the trading account, Rs. 999 for AMC, Rs. 100 for Power of attorney and 18% GST. Here. it is important to note that we define life-time as a duration of 10 years and the client needs to renew his/her account after the completion of 10 years.
1. The Client can use the Application wizard, Print the forms, Sign it and Courier it to Us.
2. If the Client needs a Priority Account, then use the Application wizard, Upload your Documents and get a completely filled form couriered to you. All the Client needs to do is to Sign it and Revert it us.
Documents required to Open an Account are as Follows:
1. PAN card (Permanent Account Number).
2. Address Proof (Aadhar Card, Election card, Driver’s License & Passport ).
3. Bank Statement ( last 6 Months).
4. Passport Photos.
5. Two Cheque (One cancelled cheque with client’s signature and one with the amount for opening the account.)
6. First page of Passbook (In case, cheques don’t have client’s name printed on it.)
Note: All the above documents should be Xeroxed on an A4 size paper.
If all the documents and signatures are provided on time and as per the requirements, it generally takes around 1 day to open a trading account and 2 days to open a Demat account.
There are three different types of account a client can open.
They are
Trading Account : required to trade F&O (be it Intraday or Positional).
Commodity trading account : required if the client intends to trade only in commodity.
Trading & Demat account : required for delivery based trade.
The cost of Opening an Account is as follows:
Trading Account : Rs.100
Commodity Trading Account : required if the client intends to trade only in commodity.
F&O Account: Investors/traders who invests only in F&O and commodity can open a trading account for free.
Trading & Demat Account (AMC) : If you want to open an account for 1 year, the amount is Rs.554 for the First year and Rs.288 Annually for the succeeding years (required for Delivery Based Trade). If you want to open an account for 10 years, the amount is Rs. 1438. No charges as a part of AMC will be charged for 10 years.
There are no Fees Charged for Opening a Demat Account, Rs. 554 includes Rs.100 for Opening a Trading Account, Rs.250 for AMC, Rs.100 for Power of attorney (POA) and 18% GST. Rs. 1438 includes Rs. 100 for Opening a Trading Account, Rs.999 for AMC, Rs.100 for Power of attorney (POA) and 18% GST. Clients will be charged Rs. 40.26 (one-time fee) as a part of KYC updation that is levied by CDSL.
Note: In case the client downloads the form from the website, fills it up and gets it sent to us then there is no Account opening charges. It is free of cost!!!
1. The Client can deposit the Amount by transferring the Funds using Atom payment gateway instantly.
The Client can also use RTGS/NEFT or drop in a cheque at HDFC bank.
2. Payment and Withdrawal requests can be made using the Back-office software and the Front office software “NEST” provided to the client as well as through the Website.
3. Withdrawal request can be Placed on (link)
4. Withdrawal requests For
Equity and Currency should be Made on or before 8:00 PM, the Funds will be deposited the next Working Day; in case the request is made post 8:00 PM, the Funds will be deposited a Day later.
Commodity should be made on or before 09:00 AM, the Funds will be deposited the next day; in case the request is made post 9:00 am, the request will be processed a day later.
Eg:
If the withdrawal request is Made at 07:50 PM on Monday (equity & Currency) or at 8:55 AM (commodity), the Funds will be Deposited on Tuesday but in case the request is made at 8:05 PM (Equity & Commodity) or at 09:05 AM on Monday, the Funds will be Deposited on Wednesday, provided Tuesday and Wednesday are Working Days.
Note:
It is important to Note that, at times there is a Delay in receiving Trade files from the Exchange and in that case, there might be a delay in the Processing of Withdrawal request.
1. The Client can use the Application on their Smartphones to Place an Order/Trade.
2. The Client can use the Windows-based Software to Place an Order/Trade.
3. The Client can use the Website to Place an Order/Trade.
4. In case the Client has no Access to the above Options, the client can call us at +91-278-2573500 and Ask our Executive to Place an Order/Trade for you. Rs.18 will be Charged on Per Executed Order in Call & Trade Facility.
As soon as the equity Trading Account is Opened, the Client will be given a Back-office User ID & password as well as a Trading User ID & Password. As and when the Client receives the above mentioned IDs & passwords, he can start Trading. In case of equity delivery, the Client will need to wait till the Demat Account is Opened.
There are three prerequisites to pledging.
They are :
Only 65% of the total margin amount can be pledged.
The pledging service isn’t available for equity buying and option buying.
The pledging service can only be used for equity – intraday and Future & Options selling.
Yep, we do allow share pledging to meet your margin requirement subject to cash versus collateral ratio i.e. 65-35%. Out of the total amount, the shares up to 65% of the total amount can be used for pledging post haircut.
Example : If the margin amount is Rs. 1,00,000 the maximum shares that can be pledged is up to 65% of the total amount, in this case it is Rs. 65,000 (post haircut).
The collateral facility can be used by all our Clients.
A Client can use his/her existing Stocks held in the Demat Account to create added limit for Trading in future and Options Segment. This facility is very useful when the Client saw a Trading opportunity but doesn’t have the required funds to invest in the opportunity.
1. MIS : If the client wants Leverage or additional margin, he/she can opt to trade using MIS. All the MIS positions will be squared off automatically at 3:15 PM. This product is suitable for intraday Clients.
2. NRML (NORMAL ) : In NRML margin would already be blocked when you take position. After Margin block if your free cash become zero due to MTM Loss, you will have to fund the account to cover any potential MTM loss. Failing to do so result in your position being squared off.
1. Normal F&O Trades (NRML: Normal)
Exchange stipulated margins, positions taken as NRML can be held until expiry.
2. Equity delivery based trading (CNC: Cash n Carry)
For equity delivery based trading (CNC), 100% money will be Required Upfront. The Client will need to use the product type CNC in their delivery based product.
3. MIS: Margin Intraday squareoff
If the client wants Leverage or additional margin, he/she can opt to trade using MIS. All the MIS positions will be squared off automatically at 3:15 PM. This product is suitable for intraday Clients.
Note:
For equity & Index futures, MIS margin: 40% of NRML margin, Kindly note that all MIS positions squared off at 03:15 PM.
For Commodity futures, MIS margin: 50% of NRML margin, all MIS positions squared off 30 mintures minutes before the market is closed.
For Currency futures, MIS margin: 50% of NRML margin, all MIS positions squared off at 04:30 PM.
Up to 5 times Intraday Leverage for index equity.
Up to 2 times for Option Shorting.
Up to 2 times for Futures.
There are No Leverage for Options Buying.
4. CO (Cover Order) Product
CO product are meant for the intraday traders who wants high leverage than of MIS product.
Basically its a two leg order product means trader who have buy has to put sell stoploss simultaneously and vice versa. This product is highly suitable for the intraday trader who trade with discipline i.e with stoploss. Since its intraday product, it will be square up at 3:15 PM.