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I want to know how far SEBI protects interest of customers of small firms like TRADESMARTONLINE, in case of their default. The company is not giving a staright forward reply. Just to something on brokerage, i don''t want to risk few lakhs of hard earned money. Do u have any reply for this?

Hello Sai,
Thanks for your comments.
We understand you need further clarification on this issue. So let us add a little more to our below points.

1. The margin you pay to take a position is paid to the exchange and is not held with us or the broker. In fact the margin payment to the exchange is to be made in advance.

2. In case you buy any shares, on receiving them we immediately transfer them to your demat account and do not hold them in our pool account.

3. As per the guidelines, client funds are kept in a separate bank account and can not be mixed with the broker''s own funds.

4. All our phone calls for trading are on recorded lines. So for whatever trades we place on the client''s behalf, the instructions from the client are recorded.

5. Several times in a year a broker''s books are audited and inspected by different entities like (NSE, BSE, CDSL, SEBI etc). And they are very vigilant about everything.

Please let us know if you have any further questions. We believe in transparency and would like to clear any doubts you may have.

Thanks,
Trade Smart Online