4. Certain costs charged by the brokers are negotiable. Utilize your skills and get the best deal.
5. Do not sign the account opening form blindly. Generally, it consists of two sets of forms, one for the demat account and the other for the trading account. Take some time and read the clauses where you are signing.
6. Make sure that you have the correct bank details to avoid any delays in transactions and corporate actions.
7. Dont forget to provide the nomination details.
8. If you are opting for an online trading account, ask the broker to give you a live demo of their trading platform.
9. Passwords are like socks, keep changing them regularly, to avoid the possibilities of online frauds.
10. Make sure that all the contracts with the broker, DP and stock exchange (which are a part of the account opening form) are properly filled and a copy of the same is collected by you as soon as the account is opened.
11. Do not leave blank signed delivery instruction slips with your broker. Its as good as a blank cheque.
12. After every trade, do collect your contract note. It acts as a proof for your trade in a particular security.
13. If you are an investor, do not get carried away by the low brokerage charges offered on non-delivery trades. You will become the beneficial owner of the securities only when the same are in your demat account and not in the broker’s pool account.
14. Check whether the scrips have been credited to your account within 48 hours of the exchange pay-out.
15. Keep a track of your transactions by verifying your account statements at regular intervals.
16. Keep the broker informed about any change in your address, contact numbers and email ids, so that he can keep you informed.
17. Stay away from market rumours. The classic mistake which an investor makes is that when the markets are bullish, he turns blind to the risks and in case of bearish markets, he turns blind to the returns. So invest on the basis of fundamentals of a company.
18. In case you are not satisfied by the services or you have be defrauded, utilize the grievance redressal mechanism provided by the Stock Exchanges and SEBI
Be aware of where and how your hard earned savings are being invested , because MONEY MATTERS a lot.
Tags: Stock Markets