Terms & Conditions

TERMS AND CONDITIONS :

This page contains important information regarding the terms and conditions which apply to your trading and demat account with hereinafter referred to as “MONEYBIZ”.MONEYBIZ, is in tie-up with big reputed demat platform like Angel One and India Infoline Limited(IIFL) who are the Trading Platform of NSE, BSE, MCX and ICEX registered with Securities & Exchange Board of India.Access to your account and the usage of your account is subject to your compliance with all the terms and conditions set forth herein, read along with all documents, including but not limited to; applications forms and undertakings, signed by you during account opening. Please read this page carefully and retain it for future reference.Please note that the information contained herein is subject to change without notice.

GENERAL TERMS AND CONDITIONS:
Before availing of online trading services, the Client shall complete the registration process as may be prescribed from time to time. The Client shall follow the instruction given in the website for registering himself as a client with MONEYBIZ

The Client agrees that all investment and disinvestment decisions are based on the Client’s own evaluation of financial circumstances and investment objectives. This extends to any decisions made by the Client based on any information that may be made available on the website of MONEYBIZ.The Client will not hold nor seek to hold MONEYBIZ or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates liable for any trading losses, cost of damage incurred by the Client consequent upon relying on investment information, research opinions or advice or any other material/information whatsoever on the website, literature, brochure issued by MONEYBIZ or any other agency appointed/authorised by MONEYBIZ. The Client should seek independent professional advice regarding the suitability of any investment decisions.The Client also acknowledges that employees of MONEYBIZ are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from MONEYBIZ or any of its employees or business associates.

 

ACCOUNT OPENING:
Online account opening using AADHAAR is currently available only for residents of India and for opening accounts for an individual (HUFs, corporate bodies, NRIs, etc., not eligible). The Client’s AADHAR number will be used to generate a temporary e-signature which will be used to e-sign the KYC document. The e-signature will be generated using an OTP which will be sent to the client’s mobile number registered with his AADHAR number. If a client is already registered in the KRA database then the account can also be opened using the KRA data and such data cannot be edited. If such data needs to be edited then the account cannot be opened using information available in the KRA database. KYC Registration Agency (KRA) is an agency registered with SEBI under the Securities and Exchange Board of India [KYC (Know Your Client) Registration Agency] Regulations, 2011. The KRA will maintain KYC records of the investors centrally, on behalf of capital market intermediaries registered with SEBI. The Fees paid towards the account opening charges for enabling equities as well as commodities is non-refundable.

SECURITIES PASSWORD AND PRECAUTION:
MONEYBIZ will provide the client with a username and a trading password which will enable him to avail of the facilities of Online Trading through the MONEYBIZ website, over the telephone or in any such other manner as may be permitted by MONEYBIZ for availing of the services.All terms regarding the use, reset and modification of such password shall NOT be governed by information on the website.Our trading terminal system have a stringent Two-Factor authentication (2FA) secure system for every client to enter into their login ID using their Client ID and Password, along with a Password. This 2FA mechanism is set in place as per SEBI & Exchange guidelines with respect to Internet Based Trading Rules.

After a client enters his/her Client ID, he/she is required to enter his/her (i) Password; and (ii) a 6 digit unique PIN set by the Client him/herself. A link to create Password & 2FA are sent to all clients along with the welcome email while opening an account. This Password and 2FA set by each client, is unique to him/her, and is not known to anybody else apart from the client him/herself. Passwords and 2FA credentials are privileged information and must be kept in high secrecy by each client and not shared with anybody else.

As per instructions from SEBI & the Depositories, we are also required to obtain the above stated Two-Factor Authentication (2FA) for all such sell transactions where shares are debited from the demat account using the Online DIS route. Therefore, the same PASSWORD/PIN set by You for Your trading terminal login, will be required to be inputted by You each time during a debit/sell transaction from your holdings from Your demat account. This will be required only if You are using the Online DIS route and not if you have submitted the physical Power of Attorney.

For Call & trade, each and every client is required to provide his/her Client ID along with his/her PAN / DOB which required to be provided to the dealers at the time of placing orders by calling to the MONEYBIZ
Any Password can be reset by the You at any point of time, by selecting the ‘Forgot Password’ link under the login area. As soon as You select the ‘Forgot Password’ link, a reset link is sent to Your registered email ID, where the same process of setting a unique password is followed.

The Client shall be responsible for keeping the Username and Password confidential and secure and shall be solely responsible for all orders entered and transactions done by any person whosoever through MONEYBIZ’s Online Trading System using the Client’s Username and/or Password whether or not such person was authorised to do so. The Client shall immediately inform MONEYBIZ of any unauthorised use of the Client’s Username or Password with full details of such unauthorised use including the date of such unauthorised use, the manner in which it was unauthorizedly used, the transactions effected pursuant to such unauthorised use, etc.

The Client acknowledges that he is fully aware of and understands the risks associated with availing of online trading services through internet including the risk of misuse and unauthorised use of his Username and/or Password by a third party and the risk of a person hacking into the Client’s account on MONEYBIZ’s Online Trading System and unauthorizedly routing orders on behalf of the Client through the System. The Client agrees that he shall be fully liable and responsible for any and all unauthorised use and misuse of his Password and/or Username and also for any and all acts done by any person through MONEYBIZ’s Online Trading System on the Client’s Username in any manner whatsoever.

Without prejudice to the provisions mentioned herein above, the Client shall immediately notify MONEYBIZ in writing with full details if: he discovers or suspects unauthorised access through his Username, Password or Account, he notices discrepancies that might be attributable to unauthorised access, he forgets his password or he discovers a security flaw in MONEYBIZ’s Online Trading System.

ORDERS :
All orders for purchase, sale or other dealings in securities and other instructions routed through the MONEYBIZ’s Online Trading System via the Client’s Username shall be deemed to have been given by the Client. The client agrees to provide information relating to customer user identification number, and such other information as may be required while placing orders on the telephone to determine the identity of the client.

The orders and instructions and all contracts and transactions entered pursuant thereto and the settlement thereof will be in accordance with the Exchange Provisions. MONEYBIZ may from time to time impose and vary limits on the orders which the Client can place through MONEYBIZ’s online trading System (including exposure limits, turnover limits, limits as to the number, value and/or kind of securities in respect of which orders can be placed, the companies in respect of whose securities orders can be placed, etc.).

The Client is aware and agrees that MONEYBIZ may need to vary or reduce the limits or impose new limits urgently on the basis of the MONEYBIZ’s risk perception and other factors considered relevant by MONEYBIZ may be unable to inform the Client of such variation, reduction or imposition in advance. The Client agrees that MONEYBIZ shall not be responsible for such variation, reduction or imposition or the Client’s inability to route any order through MONEYBIZ’s Online Trading System on account of any such variation, reduction or imposition of limits. The Client understands and agrees that MONEYBIZ may at any time, at its sole discretion and without prior notice, prohibit or restrict the Client’s ability to place orders or trade in securities through MONEYBIZ. Though orders will generally be routed to the Exchange’s computer systems within a few seconds from the time the order is placed by the Client on MONEYBIZ’s Online Trading System, MONEYBIZ shall not be liable for any delay in the execution of any order or for any resultant loss on account of the delay.

The client agrees MONEYBIZ may impose scrip-wise surveillance or such other conditions as to scrip-wise limits, etc. The client also understands that MONEYBIZ may impose various surveillances which may differ from client to client on the basis of the MONEYBIZ’s risk perception and other factors considered relevant by MONEYBIZ

In case of a market order, the Client agrees that he will receive the price at which his order is executed by the exchange’s computer system; and such price may be different from the price at which the security is trading when his order is entered into MONEYBIZ’s Online Trading System.

TRADING , SETTLEMENT AND ACCOUNTS:
The client agrees that all orders placed through the website shall be forwarded by the system to the Exchange. All orders placed otherwise than through the website shall be forwarded by the system to Exchange terminals or any other order execution mechanism at the discretion of MONEYBIZ. If the order is placed during the trading hours, it shall be routed to and executed on the market system. MONEYBIZ executives will just ask for your phone number just for sales and marketing purposes.

Online confirmation will be sent to the client by the Trading System, e-mail or SMS after the execution of the order, trade and this shall be deemed to be valid delivery thereof by MONEYBIZ. It shall be the responsibility of the client to review immediately upon receipt, whether delivered to him by Trading system, e-mail or any other electronic means all confirmations of order, transactions, or cancellations. It shall be the responsibility of the client to follow up with MONEYBIZ for all such confirmations that are not received by him within a stipulated time.

The client shall bring any errors in any report, confirmation or contract note of executed trades (including execution prices, scripts or quantities) to MONEYBIZ’s notice in writing by an e-mail or written request within twenty four hours of receipt of the concerned report, confirmation or contract note. Any other discrepancy in the confirmation or account shall be notified by the client to MONEYBIZ in writing via e-mail or written request within twenty-four hours from the time of receipt of the first notice. In all cases, MONEYBIZ shall have a right to accept or reject the client’s objection.

There may be a delay in MONEYBIZ receiving the reports of transaction status, from the respective exchanges or other persons in respect of or in connection with which MONEYBIZ has entered into the contracts or transactions on behalf of the clients. Accordingly, MONEYBIZ may forward to the client late reports in respect of such transactions that were previously unreported to him as having expired, cancelled, or executed. The client shall not hold MONEYBIZ responsible for any losses suffered by the client on account of any late reports, statements or any errors in the report / statements computed by or received from any exchange.

The client agrees that if, for any circumstance or for any reason, the markets close before the acceptance of the Order by the Exchange, the order may be rejected. The client agrees further that MONEYBIZ may reject Orders if the same are rejected by the Exchange for any reason. In case of rejection of an order due to rejection by the Exchange, the client agrees that the order shall remain declined and shall not be re-processed, in any event.

MONEYBIZ may, at its sole discretion, reject any order placed on the website or in any other manner due to any reason, including but not limited to the non-availability of funds in the trading account of the client, non-availability of securities in the Demat account of the client with a designated depository participant, insufficiency of margin amount if the client opts for margin trading, suspension of scrip- specific trading activities by or on an Exchange and the applicability of circuit breaker to a script in which orders are placed. The client agrees that, if the order is not accepted on the website for any reason, MONEYBIZ shall have the right to treat the order as having lapsed or rejected from the trading system.

The client is aware that the electronic trading systems either at the Exchange or in the office of MONEYBIZ offices are vulnerable to temporary disruptions, breakdowns, or failures. In the event of non- execution of trade orders or trade cancellation due to the happening of such events or vulnerabilities due to failure / disruption / breakdown of system or link, MONEYBIZ shall be entitled to cancel relative request/(s) with the Client and shall not be liable to execute the desired transactions of the client’s. In such an event, MONEYBIZ does not accept responsibility for any losses incurred / that may be incurred by the Client due to such eventualities which are beyond the control of MONEYBIZ.

MONEYBIZ may at its sole discretion permit execution of orders in respect of securities, irrespective of the amount in the balance of the account of the client. The client agrees to abide by and be bound by all the rules, regulations and bye-laws of the Exchange as are in force pertaining to the transactions on his behalf carried out by MONEYBIZ and the orders placed by him on the trading system / website or any other manner.

MONEYBIZ shall not be responsible for any order, that is made by the Client by mistake and every order that is entered by the Client through the use of the allotted user name and the security code(s) shall be deemed to be a valid order for which the Client shall be fully responsible.

Cancellation or modification of an order pursuant to the client’s request in that behalf is not guaranteed. The order will be cancelled or modified only if the client’s request for cancellation and modification is received and the order is successfully cancelled or modified before it is executed. Market orders are subject to immediate execution wherever possible and product conversions are available online, and if at any time the client wants to convert the executed order from one product type to another product type for example NRMLS to MIS or vice versa, it will be carried out, only if the client’s request for the product conversion is received before the stipulated time of intraday auto square off and if sufficient margins are available for product conversion.

The client shall not be entitled to presume an order having been executed, cancelled or modified until a confirmation from MONEYBIZ is received by the client. However, due to technical other factors the confirmation may not be immediately transmitted to or received by the client and such a delay shall not entitle the client to presume that the order has not been executed, cancelled or modified unless and until MONEYBIZ has so confirmed in writing.

The client agrees that MONEYBIZ will issue the contract note in digital form which shall be sent by way of e-mail to the address provided by the client. MONEYBIZ shall not be responsible for the non-receipt of the trade confirmation due to any change in the correspondence address of the Client not intimated to MONEYBIZ in writing. Client is aware that it is his responsibility to review the trade confirmations, the contract notes, the bills or statements of account immediately upon their receipt. All such confirmations and statements shall be deemed to have been accepted as correct if the client does not object in writing to any of the contents of such trade confirmation/intimation within 24 hours to MONEYBIZ

MONEYBIZ may allow/disallow clients from trading in any security or class of securities, or derivatives contracts and impose such conditions including scrip-wise conditional trading for trading as it may deem fit from time to time.

FEES AND BROKERAGE:
The Client agrees to pay MONEYBIZ any brokerage, commission, fees, GST and other taxes and transaction charges as agreed upon and due from time to time, as applied to such Client’s account, transactions, and trading ledger by MONEYBIZ for the services that the Client receives from MONEYBIZ

All fees, brokerage, and charges on MONEYBIZ’s platform are subject to change from time to time, subject to complying with rules prescribed by the Exchanges and SEBI, at MONEYBIZ’s discretion, with due notification to the Client. Each time there is any change with respect to fees, charges, and brokerage, MONEYBIZ would notify all Clients by an email and/or SMS to their registered email ID and contact number with all details, along with the date of such changes being effective.

An updated schedule of charges, brokerage, fees, towards applicable services provided by MONEYBIZ along with taxes and other mandatory transaction charges is made available here.