Is other brokers doing the same? Expert comment pls?

kaka · 1 Is other brokers doing the same? Expert comment pls? Sat Sep 10, 2011 7:29 pm

kaka

Assistant Vice President - Equity Analytics

Posts : 655
Equity Stars : 5614
Reputation : 24
Join date : 2011-07-30

Thursday I bought some shares on credit. So, I have to settle on the due date. But my broker Asia charging interest from the purchase date.
Is it correct? other brokers also doing the same thing??

pathum

pathum

Equity Analytic

Posts : 47
Equity Stars : 4868
Reputation : 0
Join date : 2011-03-05

No. I think they should give you 4 days to settle, or else they ll charge interest.

Anyway its really good if you can restrict yourself from purchasing for credit.

rajendran1989

rajendran1989

Equity Analytic

Posts : 48
Equity Stars : 4868
Reputation : 10
Join date : 2011-03-25
Age : 35
Location : Colombo

kaka wrote:Thursday I bought some shares on credit. So, I have to settle on the due date. But my broker Asia charging interest from the purchase date.
Is it correct? other brokers also doing the same thing??

I'm with capital trust. I had bought some shares just before the recent whole market down period month using the credit facility given by CT.
It was 30% of my portfolio. But, suddenly all shares went down after 2 weeks. Then, I decided not to sell that shares at that time. Therefore, they are charging everymonth some amount of interest on my portfolio.

I absolutely believe, if I keep holding the shares bought by credit for another 2-3 months, then I can earn more profit, rathen than the interest they have charged.

But, I know. this is not good for a investor. Those shares whenever can be sold by CT. At that time, I will have reached atleast breakeven point according to my view.

Let's see. my expection will go wrong or not?

windi5

windi5

Moderator

Posts : 1549
Equity Stars : 7867
Reputation : 157
Join date : 2011-05-21

Its good to stick to our own money rather than trading on credit. Most of the time credit make only havoc,if not prudently invested.In these mkt conditions, lot of uncertainties, it always good to trade with our own money. Some times credits influence us go behind crap rallies and also online trading.

Kithsiri

Kithsiri

Senior Vice President - Equity Analytics

Posts : 1758
Equity Stars : 7083
Reputation : 132
Join date : 2011-03-25
Age : 66
Location : රජ්ගම

windi5 wrote:Its good to stick to our own money rather than trading on credit. Most of the time credit make only havoc,if not prudently invested.In these mkt conditions, lot of uncertainties, it always good to trade with our own money. Some times credits influence us go behind crap rallies and also online trading.

නැති සල්ලි වියදම් කරලා අද ලෝකේට වෙලා තියන දේ නොපෙනේද ?
Spend (invest) what you have only! Very Happy

manojtharanga

manojtharanga

Stock Analytic

Posts : 19
Equity Stars : 4646
Reputation : 0
Join date : 2011-09-01

I do agree with all. Investing our own money and meet with an unexpected losses will just have forget the loss, but loses on shares on credit will force you to pay the loss+interest Evil or Very Mad

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Is other brokers doing the same? Expert comment pls?

1 Is other brokers doing the same? Expert comment pls? Sat Sep 10, 2011 7:29 pm

kaka

2 Re: Is other brokers doing the same? Expert comment pls? Sat Sep 10, 2011 11:20 pm

pathum

3 Re: Is other brokers doing the same? Expert comment pls? Sun Sep 11, 2011 12:30 am

rajendran1989

4 Re: Is other brokers doing the same? Expert comment pls? Sun Sep 11, 2011 11:50 am

windi5

5 Re: Is other brokers doing the same? Expert comment pls? Sun Sep 11, 2011 12:04 pm

Kithsiri

6 Re: Is other brokers doing the same? Expert comment pls? Sun Sep 11, 2011 2:39 pm

manojtharanga

7 Re: Is other brokers doing the same? Expert comment pls?

Sponsored content

New topics