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| Any individual, Hindu undivided family (HUF), proprietary firm, or a company can open an account with us. |
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| You need to register yourself through any of our following channels: 1) Send us an email at - trade@chola.murugappa.com, mentioning your CONTACT NUMBER, CITY and PREFERRED TIME TO BE CONTACTED. 2) REGISTER online at our Customer Service section on our www.cholawealthdirect.com 3) Visit the nearest Cholamandalam Wealth Management Branches or call us on our CUSTOMER SERVICE numbers |
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| Our Sales representative will contact you for fulfilling the account opening formalities. Once you fill up Online Account Opening form and other relevant documents, your application will be processed and the required details shall be made known to you. In case if your application is “On Hold” for some reason, our Sales representative shall contact & guide you accordingly. |
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1.Client Registration Form
2.Client Member Agreement
3.Copy of the PAN Card
4.Proof of Address ( Ration card, Driving License, Passport, Company Introduction Letter etc) |
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| After getting the application to Client registration department, Account shall be activated within 4 working days provided all the necessary documents are provided. |
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| As soon as your application is accepted, we will inform you by e-mail. Post acceptance, we shall keep you updated on your Demat & Trading Account number. Once your account is activated, we shall dispatch a “Welcome Kit” on your communication address.
In case you do not hear from us within 7 working days post submission of all the documentation, please do send us a mail at customercarewm@chola.murugappa.com. |
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Once your account gets activated, we shall dispatch you the “Welcome Kit” containing “Welcome Letter” and Demo Booklet. Welcome Letter shall include details on your Demat Account number & User ID. For safety reasons, we would dispatch your password separately in a sealed envelope.
You shall receive the banking related documentation directly from the bank, in case you have chosen to open an account with any of our preferred banking partners. |
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| Yes, you just need to mention the existing Demat account details and we shall link up your existing accounts with Chola Direct E-broking account for online investing. You can link up only one Demat account. However, you would then cease to be an offline customer. |
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| You can use your normal savings account with ICICI Bank / IDBI Bank / HDFC Bank /AXIS Bank for funding your E-broking account. You can specify the account number(s) in the Account Opening form and the same shall be linked to your Ebroking account. In case you do not have a savings bank account with any of our Preferred Banking Partners, you need to open one for funding your Ebroking account. |
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| Yes, for transferring funds Online from your savings account to our pool account, you would require Net Banking facility. System shall verify your Net Banking User Id & Password before transferring funds to our pool account. In case if you do not have a Net Banking facility, you need to apply for the same at your local bank branch. |
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| Yes, we accept the cheques from your registered account with us .After realization , the margin will be enhanced. |
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| Please check your Buying Power. Even if you have money in your Bank account it has to be transferred by you for trading. The amount of money required before placing a buy order or a Intra-day sell order would depend on the value of the order and whether the order is placed in the 'Delivery Segment' or the 'Intra-day Segment'. In case of a Delivery Order, 100% of the order value is required while for an Intra-day Order, only a specified % of the order value is required (currently 20%). |
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| When you transfer any amount from your Bank account, it gets debited in your bank account and correspondingly your Buying Power increases. In fact if you have not used this money while trading, you can always withdraw the same. Whenever you withdraw the money your Buying Power also reduces proportionately. |
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| If you sell some shares in the cash segment, generally you can use the money to make purchases on the same day. This results in your Buying Power going up. |
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| Please go through our Online Demo or the demo booklet that came with the welcome kit. Alternatively, please call our Customer Care and ask for guidance. |
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| Call & Trade is a service offered by Chola Securities Ltd for its customers, which provides customers with a facility to trade over the phone, especially if the internet is down at the client end or a computer is inaccessible. |
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| Currently, Cholamandalam Securities provides you a TOLL FREE number – 1800 425 4455 to call. Alternatively, you can call at a BSNL number: 044-25307261. |
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| Once you call our number, our Call & Trade dealer will ask a few questions to verify your identity. Only after your identity is verified, you would be able to place/ modify/ cancel orders. |
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| Yes. You can use Call & Trade for getting live rates prevailing in the market. |
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| You need to view the “STOCK LIST” depending on the segment you wish to trade / invest in. |
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| Yes. Currently, there is no limit on the number of orders that can be placed per call. |
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| No. For any inquiry, you need to call up our Customer Care center. Please keep a note of the latest numbers for Customer Care on our website. |
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| No. Status of orders placed using Call & Trade facility can only be confirmed through a Call & Trade Dealer only. |
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You can place all acceptable and allowed types of orders viz . Market, Stop Loss and Limit orders.
Limit Order is an order in which you specify the maximum price per unit in case of a Buy order and the minimum price per unit in case of a Sell order. The actual transaction can be at a price more favourable than the price specified.
Market orders can be placed only during market hours (i.e. when the Exchange is open for trading)
Market Orders have different interpretations for both NSE and BSE.
Market Orders in NSE: This is an order to buy or sell securities at the best price available in the market at the time it is matched by the exchange. Therefore, chances of its getting executed are higher. In case of market orders for NSE, all market orders placed, which are not executed, become limit orders at the last traded price. Where a market order is not executed fully, it becomes a limit order for the balance quantity at the last traded price.
Market Orders in BSE: In case of market orders placed on BSE, all buy market orders go to the Exchange with the best offer price and all sell market orders go to the exchange with the best bid price. In case at that point of time it is found that a particular bid or offer is no longer present in the exchange this market order gets cancelled suo moto by the exchange. In case of part execution of market order, the balance order gets converted into a limit order at the last executed price. |
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| A Stop loss order allows the client to place an order which gets activated only when the market price of the relevant security reaches or crosses a threshold price specified by the investor in the form of 'Stop Loss Trigger Price'. When a stop loss trigger price (SLTP) is specified in a limit order, the order becomes one which is conditional on the market price of the stock crossing the specified SLTP. The order remains passive (i.e. not eligible for execution) till the condition is satisfied. Once the last traded price of the stock reaches or surpasses the SLTP, the order becomes activated (i.e. eligible for execution by being taken up in the matching process of the exchange) and then on behaves like a normal limit order. It is used as a tool to limit the maximum loss on a position. |
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| Normally, the order quantity is disclosed in full to the market. An order with a Disclosed Quantity (DQ) condition/attribute allows the Trading Member to disclose only a part of the order quantity to the market. For example, an order of 1000 with a disclosed quantity condition of 200 will mean that 200 is displayed to the market at a time. After this is traded, another 200 is automatically released and so on till the full order is executed. DQ (Disclosed Quantity) should not be less that 10% of the Order Quantity and at the same time should not be greater than or equal to the Order Quantity. |
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| Yes, the status of any order is updated on real-time basis in the Order Book. As soon as you place your order, system validates and sends it to the exchange for execution. The entire process is system driven and there are no manual interventions. |
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| Yes, you can modify or cancel any order any time during the market hours by accessing the Order Book page and clicking on the 'Modify' hyperlink against the order, which you wish to modify or cancel. |
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| Yes, you can enter only AMO LIMIT orders after trading hours. Orders placed after trading hours are stored in the system and are sent to the exchange whenever the exchange opens for trading. |
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| Currently, all withdrawal requests for a current day would be taken upto 6 p.m. Please do check important messages area in the trading zone for an update. |
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| Chola Direct on price of cover order is compared against the weighted average price at which the position was built up (as shown in the "Net Position" table) and profit/loss is calculated therefrom. |
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| Intra-day positions are meant to be squared off. However, if you want, you can choose to receive or give delivery of shares against your positions. The expression of this intention is 'Converting to Delivery'. For example, if you have a Intra-day position of 'Buy 100 ACC Shares', instead of squaring off this position by selling 100 ACC shares in the same settlement, you can choose to receive delivery against the same. You can convert even a part of the total quantity of 100. |
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You need to go to "Trade log" click on hyper link “Exchange Trade No” after clicking “Product Conversion Window” will display. Here, in “Product “, you need to change from Margin to Delivery. To convert the desired quantity to delivery, provided you have adequate funds/stock to convert the buy/sell position respectively.
Yes. The position in Intra-day can be converted to delivery and vice versa. |
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| No. You can use your existing demat account for online trading. |
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| An option called MONEY TRANSFER is provided in Chola Direct that you can use to do a fund Transfer and Fund Withdrawal. |
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| It will take few seconds to transfer your money into the trading account. Please do make sure you read the instructions on the screen carefully while doing the transfer. |
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| You can utilize any of the bank accounts mentioned above to transact with Chola DIRECT. |
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| The day’s transactions can be viewed in ‘DETAILED MARGIN REPORT’ or in the TRADE BOOK. You can also view the profit/losses in the same option which is available in your trading version itself. |
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| Yes. A warning would be generated by the system and our personnel may also be in touch with you in this regard. |
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| Yes, you need to transfer money from your Bank account to our pool account before placing any order. Alternatively if you have sold some shares, the sale proceeds can be used to buy the shares you want. |
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| Yes, you can do “Intra-day” short selling. However, such sell positions need to be squared off before the specified time before the end of the settlement. You cannot go short in the ‘Delivery Segment'. Here, you can sell only those shares which are there in your demat account. |
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| Yes. It is compulsory to square off all margin positions only within the same day. |
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| Yes, You can do so at any time before the stipulated time limit. |
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| In such a case, our risk monitoring system shall have the option to place an auto square off order to close out your open position at a time specified on the website. This time may change depending on market conditions. |
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| You can count on our valuable research to help you pursue your financial goals. You will get fundamental, technical, strategies reports from industry leaders on various stocks & mutual funds. Please refer to the Research Section at www.cholawealthdirect.com for more information. |
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| You can change your password anytime by accessing our Preferences Section on the website. As per the “New Password Policy”, you will have to compulsorily change your password every 14 days. The password shall automatically expire after 14 days. After the 14th day whenever you login to the site, you will be prompted to change the password. |
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| The communication confirming the change in details of your trading account is sent in 24 hours of receiving the request at your end. |
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If you wish to close your account you can send the communication to Customer Care.
1. All outstanding receipts/ Payments are cleared
2. A letter informing closure of account will be sent within 3 working days |
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| Yes, Cholamandalam Securities will help you to dematerialize/rematerialize your shares. |
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| Yes Cholamandalam Securities will take care of any issues that arise with the exchanges on its customers. All you have to do is call our client service or email us at customercarewm@chola.murugappa.com. |
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| You can call on any of our staff at your local branch or you can contact our customer care regarding any services offered. |
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| You need to select a brokerage plan that suits your investing style. You can get information about brokerage plans from our marketing executives and Managers or from the Welcome > Brokerage Options window on our website. |
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| No, you can view the NSE and BSE scrip rates in the same watch list. |
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| Yes. You can mark the delivery and sell the orders. |
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| No. You need to take delivery of the stock bought on NSE and then sell the same in BSE and vice versa. That is, you cannot buy in NSE and square off the same in BSE on the same day. |
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| Currently, we offer a 1 time exposure on the delivery segment and a 5 times exposure for the Margin product. |
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| You need to maintain Span + Exposure margin for taking positions in the derivatives segment. Daily obligation/MTM needs to be paid in cash only. |
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| IPO integration - Customer will be able to apply directly for IPOs from our trading portal. For this the customer has to apply separately, the option for which has been provided in the account opening form. |
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| No. Currently the company does not allow commodity trading on its site. |
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Please download and install MS JVM from the Trade Login window on the website (Top Right Menu). If this still doesn’t solve your problem; do the following:
In Internet Explorer, please go to Tools>Internet Options>Advanced; scroll down; uncheck “Java (Sun)>Use JRE version for applet” if any;
Check Microsoft VM > a) Java Console Enabled (requires restart), b) Java logging enabled, c) JIT compiler for virtual machine enabled (requires restart) |
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