Trading of stocks/equities in India is a very fragmented business. While India does have large institutions in the stockbroking industry, a lot of the business in India is done by hundreds of small & medium brokerage firms located all over the country.
Each broker in India ties up with a back-office software provider, of which, again, there are many. Investors receive their digital transaction files from different brokers in disparate formats, in turn presenting data aggregation challenges for investors.
This is where using MProfit is highly beneficial:
MProfit already supports the import of transaction files from over 700+brokers, registrars and other entities.
While you will find import support for files from large brokers, we also support importing of data from hundreds of small and medium brokers that have a strong local presence where they operate.
If you can't locate your broker while searching, contact us at email@example.com and let us know. We'll surely try to add import support for your broker file formats.
For Stocks, we recommend that you import the following types of files to MProfit:
Digital Contract Notes are essentially bills provided to you by your broker, that contain a summary of all your trades including charges for a particular day. Here's what a sample contract note looks like:
Importing contract notes to MProfit is a very convenient way for you to have your daily stock transactions accurately uploaded to the application.
To import a contract note in MProfit:
You can set up forwarding rules in your email inbox that forward your daily contract note to MProfit as soon as you receive it in your mailbox.
In this manner, your transactions for the day are automatically uploaded in MProfit, and your portfolios remain updated without any effort required on your side.
Tradebook files are transaction files generally in Excel or CSV format that you can retrieve from your broker's back-office login.
Most brokerage firms provide back-office client logins that host a repository of transaction file formats. One such file format is known as a tradebook file.
Different brokers might have different names for tradebook files - check with your broker what they call them.
Such a file can be customised for any time-period, and exported in Excel or CSV format. A tradebook file contains a list of all your transactions for the selected time period, usually with transaction charges details.
Below is an image of a sample tradebook file:
PMS as an investment strategy is gaining popularity by the day, and MProfit has been working hard to ensure that our users receive the support they need to adequately manage their PMS investments.
You can search for the template of your choice under Import in the MProfit app. If you are unable to find your required template in MProfit, you can contact us at firstname.lastname@example.org. We'll try our best to add import support for your file.