Is this possible for a brocker to steel all investors’ money, close the company, and run away?
Yes. It is practically possible.
However, the Client funds upto 15L are protected under the SEBI investor Protection Fund.
Here is one such Example:
1 Like
Do you mean that if i have 16 L or more in my account i will get 15 L only?
1 Like
yes, but who keeps sixteen lacks dead capital unless you are a crorepati? it would be used to buy some stocks so it would be in your portfolio, which i think broker cannot run away with, he would have to sell that in market if he does that you will know immediately hoping you have invested good money, you track your positions now and then and at the end of the day NSE sends you message about turnover of the trade so you will know. so then you can do halla bol to his office and call the police assuming all this is hypothetical. so you are still safe.
forget all that just open an account in zerodha, and stay with @nithin considering the money they are making, investing into technology and the love they have for what they do, they are not gonna run away. '-)
i am just a trader who trades using zerodha platform,i am not associated with them otherwise.
1 Like