Insurance Protection
- Under the Securities Investor Protection Act, Securities in Brokerage may be protected up to $ 5,00,000 (Protected against the loss of securities, i.e. stocks & Bonds. For more detail, please see www.sipc.org.
Does Client Need To Pay Tax On Foreign Dividend In US And India?
- Yes, Tax needs to be Paid on Foreign dividend both in US and India. However, Indian Resident can claim Tax Credit of Tax paid in US by filing a return of IT in India.
Can Client Take Indexation Benefit?
- Foreign Securities are considered as unlisted, they must be held for at least 24 months to qualify as Long-Term Capital asset and avail Indexation.
Can Client Carry Forward The Losses Incurred From Dealing In Foreign Listed Securities Under Income Tax Act?
- Yes, the losses arising from the sale can be carry forward as per Income Tax Act (Losses from Sell of Securities, up to 8 years and short-term losses up to 4 years).
Reason For Fund Reversed – Payout
- Name on Trading account, mismatch with the name on the bank account – From which Fund were Transferred.
- In correct Bank Account Number, enter while making funds payout request.
- On failure of providing Bank Statement\Transaction receipt to support team within 7 days.
Does Platform Give Investing Advice Or Research Report?
- Investment portal does not give recommendation, but they give “Trending Stocks” view, which gives information on stocks with breaking news, also recommendation on buzzing stocks and ETF related them or sector.
- Apart from news, they give stock\ETF wise support indicators and other data.
- Regarding Research report, one can use the sophisticated stock scanner available on platform
Market Timings
- Trading time For US Market – New York Stock Exchange (NYSE) and NASDAQ Stock Market – 7.00 pm to 1.30 pm. During day light savings, timings are changed to 8.00 pm to 2.30 am (IST)
Pre-Open & Post Closing Orders Are Allow (Extended Hour)?
- Yes, Pre-Market & Post Market order allowed
- Pre-Market Hours – 04.00 AM EST to 09.30 AM EST
- Post Market hours – 04.00 pm EST to 08.00 pm EST
- Trade enter in extended hours can be cancelled during extended hours also.
- Pre or post market order can be executed during pre-market hours, market hours and post market hours.
Minimum & Maximum Order Criteria
- Minimum 1 share and maximum 10,000 shares can be placed in extended hours. Fractional investments are not allowed.
Short Selling Allows Or Margin Trading Facility Is Available?
- No short selling or margin Trading is allowed by Business Associate.
Settlement Period\Cycle :
- Settlement period is T+2 business days. Once the funds are settled client can buy any security or ETF against that fund.
- There is Good Faith Violation clause. Buying with unsettled cash (Selling stock and buying next day – call GFV). If this happens more than three times in a 12- months client account will be restricted for 90 days (Buying restricted)
Available Report On International Business Associate’s Portal
- Details of Reports available on platform, are as under..
- Monthly account statement & Holding Report
- Dividend Tax
- Financial Statement
- Trade Confirmation
- Profit & Loss statement
- Offline LRS details
- These reports can be downloaded by selecting “Account Setting” & Click on Report.
Stacks (Pre-Defined Basket)
- Stacks are pre-configured basket of Stocks & ETFs that can invest in, with a single click. (it’s based on Sector, Industry & on Market Capitalisation)
- Periodic review of Stacks being done and rebalancing of stacks also suggested by the portal.
- There is no lock in period, and Stack purchased can be sold anytime
- Dividend if any in Stack stocks will be directly deposited in client’s investment account (Ledger).
- Each Stack has a fee which is computed as a percentage amount.
- Fee range can be 1.00 % to 2.50% and is charged on a periodic basis (quarterly or monthly). Brokerage will not be charged on Stacks.
Notes..
- First time Subscription\activation charges $ 5 will be deducted from the remittance. (Remittance Code is – S0001)
- There would be define brokerage to be applied for each transaction.
- Remittance charges will be taken by Bank as per LRS
- Withdrawals charges would be applied $ 10. (Withdrawal code is P0001)
- Dashboard will be available for each client to view the report\s.
- Remittance request once generated – client has to write to bank for Remittance details – i.e. the said fund belongs to him\her only, which was earlier transferred.
*Abbreviation:
- Brokerage account = Client account
- Stacks = Predefined Basket of Stocks
- FINRA = Financial Industry Regulation Authority
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