Indian Trading League (ITL) brief information
Indian Trading League or ITL is inspired by the IPL of cricket. This contest is traders which allow them to showcase their trading abilities
An individual can start with as low as Rs 25000 and can join at any point of time but by the end of the competition must be at the highest percentage return level in order to win the competition.
Participants can trade in any of the segments including Equity, Derivatives, Currency or Commodities. For each executed order, Rs 20 brokerage charges are charged. The brokerage charges are almost equal to that of Zerodha.
UPDATE: The SEBI has recently issued a circular about contest similar to Indian trade League and cautioned traders. Please participate in the ITL contest at your own risk. You can read the SEBI circular here
Indian Trading League : Salient features
- Indian Trading League is associated with partners namely Samco Securities, CNBC Awaaz and Being Human brand.
- Mr. Kapil Dev, former Indian cricket captain, has a stake in the league
- First 20 call and trade executed orders are free
Indian Trading League : League Structure
ITL has 6 different types of leagues and the participant can choose any of the them.
1) The Investors League
For the participants who are investors by trading nature, can participate through the Investors league within ITL. The first three winners in this league get awarded with Rs 5Lakh, Rs 3Lakh and Rs 2Lakh respectively.
2) The Traders League
This is designed for individual traders for trading across Equity, debt, currency, derivatives segments. The first three winners in this league get awarded with Rs 5Lakh, Rs 3Lakh and Rs 2Lakh respectively.
3) The Commodities League
This league is designed to trade specifically in Commodities segment listed across commodity exchanges of India. Similar to the Traders’ league, the top three winners get a prize money of Rs 5 Lakh, Rs 3 Lakh and Rs 2 Lakh respectively.
4) Royale League
To participate in this league, investors and traders has to put in a capital of at least Rs 5 Lakh. One can trade across all segments stocks, equity derivatives, currencies. The winner gets Rs 10 Lakh along with a contract of fund management worth Rs 6.7 Crore. The second winner will get Rs 5 Lakh and the third one Rs 2.5 lakh.
5) The Women’s league
All female participants taking part in any of the rest 5 leagues get qualified for this league as well and the top 3 women trader bag some riches too. The first spot takes 100 gram of gold, the second 50 gram and finally the third spot takes away with 25 gram worth of gold.
6) The Student’s league
Individuals and students below the age of 27 get qualified for this league automatically. Within this particular segment, the first spot wins Rs 1 Lakh, the second one gets a LED TV and the third spot wins a laptop.
Along with all this mentioned above, there are prizes at Daily, Weekly, Monthly and Quarterly levels as well.
Procedure to Participate in Indian Trading League (ITL)
Following are the basic requirements to be fulfilled to take part in Indian Trading League:
- One should have demat account with SAMCO Securities, if not he/she should open it newly.
- One has to deposit a capital of at least Rs 25,000 per segment. Segment refers to the 6 types mentioned above. you can withdraw the amount at any point in time.
Indian Trading league : Final Thoughts
SEBI has recently cautioned about this format of the contest. It appears that the game is promoted to just get the account opened for SAMCO securities. There are reports questioning the financial stability of the SAMCO securities. So it will be prudent to take calculated decision because there will be nobody to complain in future if something goes wrong. At the end of the day, it is your hard earned money and should choose the stock broker wisely. You can read our article which lists downs reputed stock brokers of India here.