Brokers with best leverage under MTF?

General
1

Hi all,

I am not concerned much about the interest rate. The most important things for me are leverage and coverage of equity scrips. Which brokers have the highest leverage in MTF with good, reasonable coverage of equity scrips? The best I have found is on Angel One (5x). But they have currently disabled it due to expected volatility I guess. Any other broker?

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2

Angel have a bit complex system. You can’t take MTF trades with cash. You need to pledge your existing holdings. Also, when you sell something out of delivery, mtf trades will get converted to delivery.(FIFO). Making it complex to use. Imagine margin call everyday even if you have not utilized the pledged margins ( as there is no cash ) .

Correct me If i am wrong in understanding their system in any way.

3

I haven’t used any MTF system yet, so can’t comment. But would really appreciate if other community members could comment on this, as this seems really unconventional.

4

Have already used the angel account for sometime. Not so easy to handle even for swing trades. Had discussed with their executive for clarifications in past. They are basically managing risk, but this makes the system quite complex to manage for a retail trader.

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5

I switched my mtf trading to HDFC Sky as it is viable option with fixed brokerage of 20. Kotak securities is also good but they charge 0.25% brokerage on buy and sell side so a bit expensive.
Dhan used to be great but currently they have suspended MTF so no point. Mstock is great but the problem is unstable app and website which bothers me.

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6

Any API traders that trade MTF? I found Flattrade to be the best overall for MTF, but their API doesn’t offer MTF!

7

Im using kotak securities from 2 weeks it’s good gives coverage of 1000 stocks …& You can take mtf plan at 249 …available at 18-20 rs per day mtf or normal plan at 47 rs per day interest…another option is rupeezy which gives on 1000 stocks at 15 rs approx per day …rupeezy is also good

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8

Is Rupeezy (Astha) good? is anyone using it extensively?
Also, does anyone have any idea how brokers get so much of funds to offer MTF facilities?

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9

Dhan’s MTF is very simple and easy to use. No hidden charges either. Earlier, they used to provide 4x margins, now reduced to 2x.

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10

I thought to share this experience, I opened an account with Rupeezy last month and took some positions under MTF.

I observed that my margin utilization used for calculating the interest amount is at higher side., when I pointed this out to their customer support they failed to provide the appropriate explanation. I finally closed the account today.

So those who are using MTF in Rupeezy kindly do check your margin utilized amount for interest calculation.

11

I have been using MTF facility on Angel one and Mstocks, I personally prefer angel for most of my mtf entries:-

  1. Simple and smooth UI experience
  2. Large coverage of stocks
  3. Easy to see the reports and charges
  4. Only problem is the interest rate, they are on higher side as compared to Mstock, but I have seen they have some prepaid plans as well which gives you the option to opt for lower interest rates at an upfront cost.

If high rate is not an issue. Angel one would be my first choice.