The recently introduced peak margin norms may be causing heartburn to most traders, but it seems to have come as a windfall to some of the less scrupulous brokers. These brokers are said to be asking clients for additional margins when either it is not required, or more than what is required. Rather than get into an argument during trading hours, most clients pay up. In some instances, the brokerages offer to fund the additional margins through their NBFC arms, thereby earning an extra income besides the usual broking commission. Barring a two or three broking firms, none has a user-friendly margin calculator on their websites or apps that allows clients to cross check if the call for extra margins is legitimate. The NSE website has a tool but one which many of the recent entrants to the market are unaware of.
