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refund cancellation policy
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  • Refund & Cancellation Policy

REFUND POLICY

The refund policy for all payments made or fees paid towards account opening or availing of any other services from Magnum Equity Broking Ltd. shall be as follows:

Account Opening Fees:

The fees paid for account opening charges for equities, commodities, and/or a demat account are non-refundable. However, if your account has not been opened by Magnum Equity Broking Ltd. within ten days from the date of submitting all necessary documents and authorizations, you may request a full refund of the account opening charges paid.

Payments made for margins and/or settlement of purchase transactions:

We have developed our trading platform keeping you into focus and the trading platform is accessed through opening a Trading and Demat Account. Once your Trading and Demat account is opened any payments made thereafter for margins and/or settlement of purchase transactions will be credited towards your ledger account and to withdraw any amount from such ledger account you may place withdrawal request through the App or the Web. All withdrawal requests are processed based on risk management policy & regulatory guidelines of SEBI, stock exchanges, Depository & Clearing Corporations as applicable from time to time. You may also place a offline withdrawal request with our support team.

Clients understand that completion of all withdrawal procedures initiated is subject to fulfillment by the relevant third party agencies including banks and payment gateways. All withdrawal would be credited in customer account within 7-10 working days after acceptance of withdrawal request.

CANCELLATION POLICY

Clients' orders are placed with relevant stock exchanges/depository as instructed by clients. Cancellation or modification of an order pursuant to a Client’s request to that effect are subject to risk management policy & regulatory guidelines of SEBI, stock exchanges, Depository & Clearing Corporations as applicable from time to time. The order can be cancelled or modified only if the Client’s request for cancellation or modification is received by the Exchange before it is executed.

MUTUAL FUND ONLINE TRADE ONLINE APPLY FOR LOAN

OPEN DEMAT & TRADING ACCOUNT

Mandatory Dematerialization for Transfer of Securities, w.e.f 5th December 2018. Refer to SEBI notification number SEBI/LAD-NRO/GN/2018/24 dated June 08,2018.

Update/Link your Aadhaar Number with your Demat Account by Submitting a photocopy of Aadhaar card along with a request letter/Modification form.

Prevent Unauthorised transactions in your account. Update your mobile numbers/email IDs with your stock brokers.

KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment.

Prevent Unauthorized Transactions in your demat account. Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day....... Issued in the interest of investors.

Prevent unauthorized transactions in your trading account ->Update your mobile numbers/email IDs with your stock brokers. Receive information/alerts of your transactions directly from Exchange on your mobile/email at the end of the day.... Issued in the interest of investors.

Filing Complaints on SCORES - Easy & quick.
a. Register on SCORES portal,
b. Provide mandatory details for filing complaints on SCORES like name, PAN, address, mobile number, email ID.
c. Benefits:
   i. Effective communication
   ii. Speedy redressal of the grievances

Investor Awareness regarding the revised guidelines on margin collection

 

Dear Investor,

As you are aware, under the rapidly evolving dynamics of financial markets, it is crucial for investors to remain updated and well-informed about various aspects of investing in securities market. In this connection, please find a link to the BSE Investor Protection Fund website where you will find some useful educative material in the form of text and videos, so as to become an informed investor.

https://www.bseipf.com/investors_education.html

We believe that an educated investor is a protected investor !!!

 

Risk Disclosure on Derivatives

  • out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Source:
SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

MAGNUM EQUITY BROKING LTD.

SEBI Registration No.: INZ000172031 NSE Member ID: 06529 | BSE Clearing No.:126 | CDSL SEBI Registration No. IN-DP-CDSL-201-2003
DP ID: 12029700 | CIN: U67120MH1996PLC103441

Investor Grievances: grievances@magnum.co.in

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