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Samraat

Samraat Jadhav  |2088 Answers  |Ask -

Stock Market Expert - Answered on Oct 26, 2023

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
Anish Question by Anish on Oct 25, 2023Hindi
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Kindly inform which apps are safe & genuine to do trading in equity. Is there any approved list available on site.

Ans: there is no such approved list. A broker which is SEBI registered is good enough to open a dmat and trading account and trade.

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |6995 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 30, 2024

Asked by Anonymous - May 30, 2024Hindi
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Sir/madam, can you plz tell that how safe is any app for mutual funds stocks like Grow ,upstox,zerodha etc what would happen if in future apps would stop working then what would happen to my investment..how would i clain for my money then
Ans: Investing through apps for mutual funds and stocks like Grow, Upstox, Zerodha, etc., comes with its own set of advantages and risks. While these platforms offer convenience and accessibility, it's essential to consider the safety of your investments and the reliability of the platforms themselves.

Safety of Investment Apps
Reliability Concerns: The long-standing reliability of discount brokers and digital platforms is often questionable. These platforms may prioritize profit-making through cross-selling and selling user data rather than focusing solely on the interests of investors.

Cybersecurity Risks: Investing through apps exposes you to cybersecurity risks, such as data breaches and hacking attempts. While reputable platforms implement security measures, no system is entirely immune to cyber threats.

Operational Risks: There's a possibility that these apps may face operational issues or downtime, leading to temporary disruptions in accessing your investments or executing transactions.

Accessing Funds if an App Shuts Down

Regulatory Protections: If an app shuts down, regulators will intervene, but the process might be complex and lengthy.
Demat Account (for Stocks): Your actual investments (stocks and shares) are held in a Demat account (with CDSL or NSDL), not with the app. You can transfer this account to another broker to access your holdings.

Mutual Funds: Your mutual fund holdings are likely held with the mutual fund house itself, not the app. You can contact the mutual fund house directly to redeem your investments.

Process Timeline: Accessing your funds could be slow, depending on the platform's shutdown process and regulatory procedures.

Importance of Human Connect
Personalized Assistance: Investing through a regular Mutual Fund Distributor (MFD) provides the advantage of human interaction. MFDs offer personalized assistance, guidance, and support, helping investors navigate through market uncertainties and address concerns effectively.

Regulatory Oversight: MFDs operate under regulatory frameworks and adhere to compliance standards, ensuring transparency and accountability in their dealings with clients.

Conflict Resolution: In the event of disputes or issues with investments, having a human intermediary like an MFD facilitates smoother conflict resolution and grievance redressal compared to digital platforms.

Conclusion
While investment apps offer convenience and accessibility, investors should assess the safety and reliability of these platforms. Considering the long-standing concerns surrounding discount brokers and digital platforms, opting for a regular Mutual Fund Distributor (MFD) provides the assurance of human connect and personalized assistance. MFDs prioritize investors' interests and offer guidance tailored to individual financial goals and risk profiles, enhancing the overall investing experience.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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