Bank Asia Securities Limited

What is Bank Asia Securities Limited？

Bank Asia Securities Limited, short as BASL, is a full-service brokerage company in Bangladesh who offers a wide array of financial services to traders including Panel Broking, Margin Loan, CDBL Services, Brokerage Services and Wide Branch Network . It is, however, significant to mention that the broker currently operates without any valid oversight from recognized regulatory entities, which should raise investors' great attention.

In our upcoming article, we will present a comprehensive and well-structured evaluation of the broker's services and offerings. We encourage interested readers to delve further into the article for valuable insights. In conclusion, we will provide a concise summary that highlights the distinct characteristics of the broker for a clear understanding.

Pros & Cons

Pros: Bank Asia Securities Limited (BASL) offers diversified services through various sections such as Panel Broking, Margin Loan, depository Services, catering to a wide range of investment needs.

Cons: Operating in an unregulated environment raises concerns about oversight and consumer protection. Additionally, transaction fees impact the overall cost of trading for clients, affecting their investment returns and overall satisfaction with BASL's services.

Is Bank Asia Securities Limited Safe or Scam？

When considering the safety of a brokerage like Bank Asia Securities Limited or any other platform, it's important to conduct thorough research and consider various factors.

• Regulatory sight: Taking into account the operations of Bank Asia Securities Limited, there are serious concerns due to their lack of legitimate regulations. This absence of regulatory oversight raises questions about the firm's legality and responsibility, you should proceed with your financial transactions with great caution.

• User feedback: To get a deeper understanding of the brokerage, you should explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.

• Security measures: Bank Asia Securities Limited enforces a privacy policy and Anti-Money Laundering (AML) policy for security. These measures aim to safeguard client information, prevent identity theft, and deter illegal financial activities.

In the end, choosing whether or not to engage in trading with Bank Asia Securities Limited is an individual decision. It is advised that you carefully balance the risks and returns before committing to any actual trading activities.

Services

Bank Asia Securities Limited offers an extensive suite of services to its clientele.

• Exclusive Panel Broking Services:

BASL collaborates with renowned Merchant Banks to offer exclusive panel broking services, ensuring access to premium investment opportunities such as stocks and tailored financial solutions for clients.

• Margin Loan Facility:

Under the Margin Rules 1999, BASL provides margin loan facilities to prospective investors, enabling them to leverage their investments and enhance their returns in the market.

• Depository Services:

BASL offers comprehensive depository services, including BO Account Opening, Dematerialization, Re-materialization, Transfer, Transmission, and Pledge operations, facilitating efficient and secure management of clients' securities.

• Brokerage Services for Institutions:

With a commitment to delivering superior brokerage services, BASL caters to various institutional clients, including Foreign Investment Management Companies, Merchant Banks, Asset Management Companies, Financial Institutions, Insurance Companies, Local Companies, Pension Funds, and Trust Funds.

• Brokerage Services:

BASL delivers brokerage services to both institutional and retail clients, facilitating trading in various market segments including IPOs, secondary market trading, and block trading. For institutions, BASL caters to Foreign Investment Management Companies, Merchant Banks, Asset Management Companies, Financial Institutions, Insurance Companies, Local Companies, Pension Funds, and Trust Funds. Meanwhile, its retail brokerage services cover Local, Foreign, and Non-Resident Bangladeshi (NRB) individuals, ensuring access to diverse investment opportunities and personalized trading experiences.

• Wide Branch Network:

With branches and digital booths strategically located in Dhaka, Chattogram, Khulna, Rajshahi, and Bogura, BASL offers a wide branch network to serve clients efficiently and plans to expand its presence throughout Bangladesh, prioritizing growth and accessibility for its clientele.

Trading Platform

BASL enables trading for its clients through the Dhaka Stock Exchange PLC (DSE) platform, accessible via various devices such as desktop computers, laptops, tablets, and smartphones. Clients can conveniently access the DSE platform through BASL's trading interface, allowing them to buy and sell securities listed on the exchange.

Deposit & Withdrawal

Bank Asia Securities Limited (BASL) offers convenient deposit and withdrawal methods for its clients' BO (Beneficiary Owner) accounts. Clients can deposit funds into their portfolio accounts maintained with BASL through BEFTN/RTGS/NPSB, as well as by cheque or cash physically through BASL's bank account.

Fees

BASL provides an appealing brokerage commission rate of 0.25% for cash transactions through its 'Absolute Cash Account', delivering transparent pricing without hidden costs or charges.

Besides of this, Bank Asia Securities Limited (BASL) also imposes transparent and competitive fees for its booth services. For offline transactions, clients incur a fee of BDT 500.00, while online transactions carry a reduced fee of BDT 450.00.

Additionally, BASL charges an annual BO maintenance fee of BDT 450.00. Commission rates are kept competitive to align with industry standards. For demat services, BASL levies a fee of BDT 0.05% of the market value of securities plus BDT 50.00 per scrip, with similar charges applied for rematting.

Pledging and unpledging of securities incur a fee of 0.025% of the market value of securities.

Customer Service

Bank Asia Securities Limited provides comprehensive customer support through phone, physical address and email.

Furthermore, more modern methods via social media such as Facebook, Twitter, Google and LinkedIn are also available as supplementary customer support channels.

Address: Hadi Mansion (2nd Floor), 2 Dilkusha Commercial Area, Dhaka-1000, Bangladesh.

Phone: +8802-47119242, 02-223387884

Email: info@basl-bd.com.

For more details regarding contact info of its branch offices accross the country, you can visit https://www.basl-bd.com/home/branches.

Conclusion

In conclusion, Bank Asia Securities Limited, a Bangladesh-based brokerage company, offers a diverse range of trading instruments including Panel Broking, Margin Loan, depository Services, Brokerage Services and Wide Branch Network. However, interested investors should approach with caution due to alarming unregulated status of the broker. Such concerns cast doubt on the broker's commitment to regulatory compliance and client security.

Given these considerations, we recommend you to explore alternative brokers that prioritize transparency, regulatory adherence and professionalism.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.