Overview of Multiplex
Multiplex, an India-based firm, currently operates without valid regulatory certificates from recognized financial authorities.
While offering a diverse array of products and services across equities, derivatives, commodities, and more, Multiplex's account opening process is cumbersome, requiring multiple forms and documents.
Although they provide online dispute resolution and a variety of contact options for customer support, including phone and email, the lack of detailed fee information and educational resources such as video tutorials and social media content could potentially inconvenience clients seeking clarity and guidance.
Regulatory Status
Multiplex currently does not hold any valid regulatory certificates. Although it is incorporated in India, it lacks regulation from any recognized financial authority. It is crucial to understand that engaging with an unregulated broker involves significant risks, as there is no supervisory entity to enforce ethical practices and safeguard client assets.
Pros and Cons
Multiplex offers a diverse range of products and services across multiple asset classes including equities, derivatives, commodities, depository services, advisory services, mutual funds, and real estate. Their trading platform provides advanced features like streaming quotes, customization, and investor portfolios. Additionally, Multiplex has an online dispute resolution platform for transparent and efficient conflict resolution. Clients can access various contact options for customer support including phone, email, and support tickets.
A major drawback is that Multiplex currently lacks valid regulatory certificates from recognized financial authorities. The account opening process seems cumbersome, requiring submission of multiple forms and documents. While Multiplex provides some educational resources, they lack video tutorials and social media content to help clients familiarize themselves with processes more quickly. Additionally, the lack of detailed information on account and trading fees, leading to uncertainty and potential inconvenience for clients.
Products and Services
Multiplex BROKER offers 1,000+ trading instruments across 8 asset classes, including agriculture, energies, metals, stocks, indices, ETFs, and currencies.
Equity & Derivative: Multiplex offers investors online equity and derivative trading with real-time stock prices, market data, and analysis tools. Through the Power Trade application, users can trade simultaneously on the NSE and BSE. Investors can also trade via Multiplex's branch network by contacting Relationship Managers over the phone.
Commodities: Multiplex's Trading platform utilizes ODIN technology for trading on NCDEX and MCX, enabling users to access real-time streaming quotes, place orders, and receive confirmations on a single screen. Additionally, Multiplex's experienced research team offers daily and weekly reports, aiding traders in decision-making.
Depository Services: Multiplex's Depository Services act as a depository participant with NSDL and CDSL, facilitating the settlement of dematerialized shares and providing services for securities transactions. Clients can access their holdings through a web-based back office.
Advisory Services: Multiplex offers advisory services to assist clients in making investment decisions. Their research team provides diverse reports including Fundamental Analysis, Technical Analysis, Daily Reports, Directional Futures & Options Calls, Arbitrage, and Research on Agricultural Commodities and Metals.
Back Office: Multiplex offers Back Office support with accounting standards, ensuring easy access to accounting reports. Clients can conveniently view and print reports, contract notes, and bills via the provided link on their website.
Mutual Funds: Multiplex offers mutual fund investment solutions, leveraging a vast distribution network of leading mutual funds. Originally hailed as an avenue for small investors to access the market, mutual funds simplify investment for individuals.
Real Estate: Multiplex Builders Pvt. Ltd.'s Real Estate Division offers services including original booking, construction, collaboration, and self-purchase/leasing for residential and commercial properties. Their core principles: flexibility, client-centric approach, quality focus, timely delivery, reasonable pricing, strong client commitment, and stakeholder transparency.
How to Open an Account？
Opening an account with Multiplex seems somewhat cumbersome, and requires providing a series of application materials. The account opening process takes some time. The following is an example of the account opening process for a DP Trading Account:
First, clients need to visit the broker's website and download some forms (including KYC form, CKYC form and FATCA form) and prepare a list of documents for account opening process.
After organizing the materials, clients need to send all documents along with signed forms to Multiplex.
Then, Multiplex will finish the PAN Verification and verified all documents with original copy of documents.
After completing physical verification of clients and KRA & CKYC, the client's DP account can be opened.
Finally, once the DP details are added, clients will receive their trading account information.
Trading Platform and Tools
As for the trading platform, Smart Trading's iNeT.net™ is a cutting-edge Internet Trading Engine that facilitates e-Exchange trading between retail clients and brokerage houses. This pioneering product showcases streaming real-time quote capabilities via a proprietary broadcast optimizer. Key features include support for streaming “Push” and “Pull” transaction modes, highly customizable transaction pages, online alerts for client activities, creation of self-directed Investor Portfolios, utilization of top-tier encryption standards, and an open architecture enabling interfaces with multiple third-party systems.
Additionally, Multiplex offers their clients a ODR Portal. The SMART ODR platform aims to leverage technology to streamline and expedite the resolution of disputes within the Indian securities market, providing a transparent and efficient online mechanism for conciliation and arbitration.
Customer Support
For any inquiries regarding customer support, trading hours, funding accounts, or opening new accounts, Multiplex provides various contact options to assist clients with different needs.
Mobile: Multiplex offers telephone support at (011) -27557701-05,47055555.
Email: Clients can contact the customer support team via email. General customer support can be contacted at kapilverma@onlymultiplex.com.
Message box & Support Ticket: Additionally, clients can leave a message on the website using the message box or use the Support Ticketto seek help.
Educational Resources
Multiplex provides customers with many links regarding account opening and investment guidance, as well as corresponding downloadable resources.
Unfortunately, they do not provide other educational resources like videos and social media resources, which could help customers become familiar with the relevant processes more quickly.
Conclusion
In summary, Multiplex, incorporated in India, offers a wide array of products and services across multiple asset classes, including equities, derivatives, commodities, and more. The firm provides advanced features like streaming quotes, customization, and investor portfolios on their trading platform. They also have an online dispute resolution platform and various customer support options.
However, Multiplex operates without valid regulatory certificates, posing significant risks to clients. The account opening process is complex, requiring multiple forms and documents. The firm also lacks detailed information on account and trading fees, and various educational resources like video tutorials and social media content, which could potentially inconvenience clients seeking clarity and guidance.
FAQs
Q: Is Multiplex regulated by any recognized financial authority？
A: Currently, Multiplex operates without valid regulatory certificates from recognized financial authorities, though it's incorporated in India.
Q: What services does Multiplex offer？
A: Multiplex offers a diverse range of services across various asset classes, including equities, derivatives, commodities, depository services, advisory services, mutual funds, and real estate.
Q: How can I contact Multiplex for customer support？
A: Multiplex offers various contact options for customer support, including telephone support, email, and a message box on their website.
