1. Do you provide any trading tips/investment strategies ?
No, that is not part of our core service offerings. 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.
2. Can you send an Executive or RM to my residence to collect my documents ?
One of the advantages you will have with trading with PARIM FINSERV is our low cost structure. As a result, we do not provide any RM (Relationship Manager) services, even in SURAT. We request you to mail the documents to our office.
3. What are your call and trade charges ?
A charge of Rs. 20 per order (inclusive of taxes) is levied on orders placed via Call and Trade on all of our plans.
4. What type of accounts can a client open with PARIM FINSERV ?
A client can only open an individual account or a HUF account. As of now, we do not allow company, corporate, or partnership types of accounts.
5. Can you tell us the bifurcation state/ central govt. for all charges like STT, Transaction Charges etc ?
STT - Central Government
Transaction Charges - Exchange
Stamp Duty - State Government
Service Tax :- Central Government
6. Do you provide collateral or margin against shares ?
Currently we do not offer this facility. Once this is available we will let you know.
7. Can you explain the different Order Types: (MIS/NRML/CNC) ?
MIS stands for Margin Intraday Squareoff.
NRML stands for Normal Product
CNC stands for Cash And Carry
If an order is placed under MIS, it will get squared off automatically 3:15. MIS is only applicable towards Cash and Futures products. MIS gives intraday margin benefits.
If an order is placed under NRML, we will require full margin. This is only applicable for Futures and Options. Positions are not squared off automatically.
If an order is placed under Cash and Carry, we will require full margin. This is only applicable for Cash (Equity) products. Positions are held overnight.
8. When is a demat account required ?
For F&O Trading, a Demat Account is not required. However for cash trading, you need to have a Demat Account as you can get delivery of shares.
9. What is the exposure provided on short selling futures ?
PARIM FINSERV provides exposure as per exchange from time to time. No extra limit available at this point of time.
10. What are your account opening charges, and is there any AMC attached to it ?
PARIM FINSERV's account opening fees are Rs. 325 + service tex 15.00%. If you want to open a demat account with Roongta, they will charge you Rs. (Rs. for account opening, and Rs.1375/- Life time 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 GLOBE. Please note that account opening fees are non-refundable. Ensure that you have the proper documents required to open an account. Should you have any doubts, please clarify them with our team by emailing us. There is no AMC attached to any of PARIM FINSERV's plans.
11. Do you have any branches other than the one in SURAT ?
We have only one centralized operational branch, based out of Surat. We do not have any other branches as this allows us to keep our costs low and allows us to pass on the savings to our clients. We are an online broker, so our customers almost exclusively trade online. If they have any queries to get answered, they can call or email us at any time.
12. What kind of assurances can you provide me that my money will be safe with PARIM FINSERV ?
There are many things that are already in place to ensure that your funds are safe. Here are a few key main things to remember:
- All brokers have to deposit a certain amount of money to be kept with the NSE, MCX-SX to become members. This is to ensure capital adequacy and a minimum net worth policy.
- Client funds have to be kept in a separate bank account. A broker cannot mix client and pro funds together in any way.
- Every year, the MCX-SX performs a thorough audit spanning several days. They check when funds came in from clients, how much is with the broker, what they were used for, and many other detailed compliance checks. We have passed their check every single year.
- Our calls are on a recorded line. If the broker places an order on behalf of a client, he must have proof of doing that. Using NOW ensures clients that they can double check who placed the order by directly calling the exchange.
- Investor Protection Fund - Part of your transaction fees charged by the exchange go to this fund which is to help clients recover losses in case of electronic, systematic or other non-client related failures. This is maintained by the NSE, MCX-SX.
Furthermore, if you are on our website you can click on our registration numbers on the bottom of every page to see our SEBI registration certificates.
As a regulatory requirement, we need to keep a few crores as a deposit with each exchange to become a licensed broker. We have also completed all the formalities required to be a broker. If you are still skeptical you can start by opening a small account with us and then gradually building on it.
13. 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.
14. How much time will NEFT take to transfer funds ?
Usually a NEFT transfer will take 3 to 4 hours for the funds to transfer from your account to our bank account.
15. Can you provide the procedure for depositing a check and the appropriate bank details ?
Once a client has deposited a check, he needs to mail us a copy of the checkbefore Prim finserv can credit him. The bank details can be found on Parim finserv’s website at http://parimfinserv.com Otherwise, here is the exact address:
Please make out the cheque in favour of "PARIM FINSERV" payable at SURAT.
Bank Name: HDFCBANK, AXIS BANK,SURAT