At Tradeplus, working for your best interests has always been our top most priority. As events of the past year have underscored, it is not how big you are that counts, it is how well governed you are that matters the most. And good governance is at the core of every facet of our service at Tradeplus and here’s how we do it.
We don’t have propriety business. This means we don’t trade in our own accounts. Almost all the large brokers in India run propriety desks where they trade on their own account. For us all along our 20 years in this business we have always had the philosophy of 3T’s – Trust, Transparency and Technology and YOUR best interests has been the only thing that have mattered.
First ones to get Margin trade funding license from SEBI: When most of the top brokers have set up Non Banking finance companies (NBFC) arms for margin funding, we looked the other way and obtained a SEBI license to provide Margin Trade funding (MTF). The SEBI MTF rules were much more stricter than the NBFC rules for margin funding. In June 2019 SEBI came out with a circular that client stocks cannot be used to pledge or transferred to any NBFC or Bank for raising funds. This essentially shut the door for NBFC based funding used by many of the large brokers. SEBI MTF rules only allow funding from the brokers own money and hence its much safer.
Off-Market transfers: Recently rules governing Off-market transfers have been strengthened by the regulators. However we have always considered as custodians of our clients securities and had very strict internal policy for off-market transfers. For every off-market request received we would call and get acknowledgement from the beneficial owners again to confirm the transfers.
Transparency through Technology: We have used technology to offer all information about your account at your fingertips. Be it our Website Portal, Mobile APP’s, Whatsapp and CHATBOT services, all your account information is just a click or message away. Contract notes are delivered within 24 hours of trades. Clients can subscribe to instant trade confirmation service so that confirmations are received on their mobile phone within seconds of trades.
No Research desk: We don’t have a research desk because we believe in letting you have an unbiased view of your investments. We believe in the power of technology to provide you with valuable insights about your trades and how you can get better at it. Through our Smart Trading system, our UNIV education initiative and our informational blogs, it is our endeavor that you have a great trading experience with us.
No brokerage target for our Relationship Managers: Since we offer 0% brokerage services and zero brokerage for Equity delivery, our Relationship Managers don’t have any brokerage based targets. We have no interest in having you churn your portfolio for the sake of our income simply because we charge zero brokerage both on equity delivery and on Mutual funds through the direct mode. Our only incentive is that we help you invest in the markets like a pro and we continuously work towards this endeavor.
Needless to say that we welcome some of the recent measures by the regulator to strengthen the capital markets eco system and make investing safer for you. This has always been our endeavor too. Be it regulations about running account settlements or enhanced supervision or reporting of client balances and stocks or banning of pledging client stocks to raise capital, we welcome these regulatory steps to improve safety.
Always working towards your best interests, Tradeplus Team.
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