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.
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 on the basis of any information that may be made available on the web site of Meon. The Client will not hold nor seek to hold Meon 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 web site, literature, brochure issued by Meon or any other agency appointed/authorised by Meon. The Client should seek independent professional advice regarding the suitability of any investment decisions. The Client also acknowledges that employees of Meon are not authorized to give any such advice and that the Client will not solicit or rely upon any such advice from Meon or any of its employees.
Meon 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 Meon website, over the telephone or in any such other manner as may be permitted by Meon for availing of the services. Meon may also provide the client with the username and password for accessing its back-office for various reports, etc. All terms regarding the use, reset and modification of such password shall 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 6 digit PIN OR Authentication via apps such as Google Authenticator set by the Client himself/herself. This 2FA mechanism is set in place as per SEBI & Exchange guidelines with respect to Internet Based Trading Rules.
Each Kite (or Meon trading platform) Password has a 2FA system in place for a secure login experience by each client. 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 OR an Authentication mechanism via an application such as Google® Authenticator or Microsoft® Authenticator. 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 PIN set by You for Your Kite/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 via Kite. This will be required only if You are using the Online DIS route and not if you have submitted the physical Power of Attorney, that can be found here.
For Call & trade, each and every client is required to mention the last 4 digits of his/her Client ID along with his/her personalised 4 digit Pin (known as Telephone code) which can only be seen inside his/her trading account, that can be entered into by the client him/herself only after entering the Client ID, Password, 2FA. To know more about creating, changing, and using Your Telephone code, please read more here.
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 Meon’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 Meon 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 unauthorisedly 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 Meon’s Online Trading System and unauthorisedly 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 Meon’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 Meon 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 Meon’s Online Trading System.
All orders for purchase, sale or other dealings in securities and other instructions routed through the Meon’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 into pursuant thereto and the settlement thereof will be in accordance with the Exchange Provisions.
Meon may from time to time impose and vary limits on the orders which the Client can place through Meon’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 Meon may need to vary or reduce the limits or impose new limits urgently on the basis of the Meon’s risk perception and other factors considered relevant by Meon, and Meon may be unable to inform the Client of such variation, reduction or imposition in advance. The Client agrees that Meon shall not be responsible for such variation, reduction or imposition or the Client’s inability to route any order through Meon’s Online Trading System on account of any such variation, reduction or imposition of limits. The Client understands and agrees that Meon 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 Meon.
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 Meon’s Online Trading System, Meon 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 Meon may impose scripwise surveillance or such other conditions as to scripwise limits, etc. The client also understands that Meon may impose various surveillances which may differ from client to client on the basis of the Meon’s risk perception and other factors considered relevant by Meon.
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 Meon’s Online Trading System.
The Client hereby warrants that he is capable of executing the present agreement and that the terms of the present are not in contravention of any rights of any party with whom such client has any agreements, at any time prior to the execution of this agreement.
He agrees to provide and continue to provide all details about themselves as may be required by Meon, including but not restricted to PAN Number or Unique Identification Number (issued by SEBI) , and states all details and facts represented to Meon are true.
The Client is aware and acknowledges that trading over the internet involves many uncertain factors and complex hardware, software, systems, communication lines, peripherals, etc., which are susceptible to interruptions and dislocations; and the Online Trading Service of Meon may at any time be unavailable without further notice. Meon and the Exchange do not make any representation or warranty that the Online Trading Service of Meon will be available to the Client at all times without any interruption. The Client agrees that he shall not have any claim against the Exchange or Meon on account of any suspension, interruption, non-availability or malfunctioning of the Online Trading System or Service of Meon or the Exchange's service or systems for any reason whatsoever.
Meon states that it has complied with and will continuously comply and if not proposes to comply with all statutory and regulatory directions to offer the Internet Trading services through the website Meon.com and for dealing in cash and derivatives segment of the exchange.
The Client warrants that all or any of the securities deposited by him with Meon in respect of margin requirements or otherwise, are owned by him and the title thereof is clear and free of encumbrances.
The Client/s agree to indemnify and hold Meon harmless against any loss that may be suffered by it, its customers or a third party or any claim or action that may be initiated by a third party which is in any way the result of improper use of user ID and password by the Client/s.
The Client hereby confirms and warrants that the Client authorises Meon to take all such steps on the Client’s behalf as may be required for provisions or to complete or settle any transactions entered into through or with Meon or executed by Meon on behalf of the Client. However, nothing herein shall oblige Meon to take such steps.
Meon does not warrant that the service will be uninterrupted or error-free. The service is provided in an "as is" and "as available" basis without warranties of any kind, either express or implied, including, without limitation, those of merchantability and fitness for a particular purpose. The client agrees that Meon shall not be held responsible for delays in transmission of orders due to breakdown of the system or failure of communication facilities either due to the fault of the systems of Meon or of the Exchanges or otherwise or for any other delay beyond the reasonable control of Meon due to a breakdown or failure of communication facilities or for any other delay beyond the reasonable control of Meon.
All modification to this Agreement shall be made solely at the discretion of Meon and shall be intimated to the client by a suitable modification to the terms and conditions or other applicable section on the website or in any other manner.
In the event of death or insolvency of the client, winding up or liquidation, or their otherwise becoming incapable of receiving and paying for or delivering or transferring securities which the client has ordered to be bought or sold, Meon may close out the transaction of the client and the client or his legal representative shall be liable for any losses, costs and be entitled to any surplus which may result therefrom.
The client is aware that authentication technologies and strict securities measures are required for internet trading through order routed system and undertake to ensure that the password of the client and /or their authorized representatives are not revealed to any third party. The client also agrees to indemnify Meon from any loss, injury, claim or any action instituted against Meon arising from the misuse of the password by any party.
Meon shall not be responsible for delay or default in the performance of their obligations due to contingencies beyond their control, such as (including but not limited to) losses caused directly or indirectly by exchange or market rulings, suspension of trading, fire, flood, civil commotion, earthquake, war, strikes, failure of the systems, failure of the internet links or government / regulatory action.
In the event of any one or more of the provisions contained in this Agreement becoming invalid, illegal or unenforceable in any respect under any law for the time being in force, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be prejudiced or affected thereto.
All notices, correspondences or communications issued under this agreement shall be served in any one or more of the following modes of communications and such notice or communication shall be served at the ordinary place of residence and/or last known web address / residing address and / or at the ordinary business address of the party to this agreement such as -
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