November 15, 2010 9:09 pm
Has anyone used the Equities Platform from FundsIndia.com to open their demat account ? What has been your experience ? How safe and good is it ?
Dear Atul, from did you pull out this info that fundsindia’s new partner is IL&FS?
Please check the below link.
BTW FundsIndia has new trading partner IL&FS.
I have been using Funds India platform for past month and have been happy with them so far.Only initial investments took sometime but then on it was fine.
They have a competitive brokerage rate 30 paise for every Rs100 is good i believe.No day trading is possible in fundsindia and demat account is created with ease as they send you the docs and arrange for pick up ,all you have to do is verify the doc and sign at appropriate places.
It get done within 2-3 weeks owing to the mailing time. The Equity partner is EmKay with whom the demat is opened.There is no opening charges and demat charges first year. Rs200 a year is charged as demat charge from 2nd year onwards which again is very less compared to competition.
They also dont have mutual funds and future &options thru equity platform. To buy mutual funds you should go in traditional way in fundsindia.
You can go through comments section of https://www.jagoinvestor.com/2010/04/interview-with-fundsindia-com-podcast.html
Many readers have given their feedback on FundsIndia
Others can put their feedback here itself !
I have been reading through many of your blogs. You have been doing a great job. Keep it up. 🙂 I went through the comments section of above link you posted. Many guys have no doubt given their experience with FundsIndia, but most of it is about Mutual funds through them.
I have a couple of very quick questions from you:
1) How good are they for equity/stock trading? Is their platform good as other competitors (Haven’t been able to find any comparison of FundsIndia Trading platform on sites like : chittorgarh.com where comparisons of most of the brokers are available)
2) This is the main one, on which I desperately need your advice: Are they (mainly FundsIndia) /(or any similar discount broker) ‘safe’, when we do buy stocks through them and keep in their demat accounts (maybe for a couple of years, until we get the targeted profit.
If the broker leaves business in between, what happens to our invested money with them (i.e. the stocks in demat A/c with them + and the money in the trading a/c with them.) Please give me your valuable inputs on this question.
And any advice when purchasing stocks through such relevantly new brokers, can we consider safe keeping our stocks invested for a longer period of time in their demat accounts?
Thanking you in advance!
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