R K Global Issues!
- Thread starter milkyblack
- Start date
Respected Priti,
It will be better if you provide all the details here, regarding margin requirement, minimum monthly charges, software charges, etc. This step will provide easy reference for all other members.
Or RK Global should clearly mention all terms and conditions clearly on its web site.
Regards.
It will be better if you provide all the details here, regarding margin requirement, minimum monthly charges, software charges, etc. This step will provide easy reference for all other members.
Or RK Global should clearly mention all terms and conditions clearly on its web site.
Regards.
Hi All,
Here is my feedback on RK Global. I was using Geojit Platinum before this and recently migrated to RK Global. I have been using RK Global for a little over a week now.
Signup process and charges
- I got my account opened with the Mumbai office.
- Took 7 days to process my documents and activate account. They do not have an office in Bangalore and I am based in Bangalore. All the processing happened over phone & courier. Charged 400 for stamp paper, 200 for Demat account & 330 odd for ODIN diet client (last one is recurring monthly).
- They wanted me to send blank form with signatures. I wasn't comfortable with it so I filled as much as I could correctly. Didn't have any issues thereafter.
- I got ODIN diet version 9.
Connection, Quotes, Order processing
- First day I faced problems with connection. Got disconnected frequently. BUT this was not a problem with RK, turned out to be a problem with my net connection. Got Airtel to fix it. Post that it didn't disconnect even once during the trading day
- Quotes are real-time. I use eSignal for data and got same quote across Geojit, eSignal & RK. All of them were in sync
- Order processing is fast. Only today I saw that orders went into "transmitted" status for a couple of minutes before they got confirmed. Since they were stop loss orders it didn't matter to me. But if you are looking to execute immediately then this could be a problem. I faced this only today, rest of the days it was fine - almost immediate execution
Margin
- It is as per NSE. Same margin was charged in Geojit. I did see some members complain about extra margin being charged by RK. Didn't see that problem. Nifty margin today was 26211
- I only trade FnO
Brokerage
- This is the best part. Geojit brokerage was 222 per round trip (buy + sell one lot of nifty). RK is only 76
This includes all taxes & duties
Charting
- I saw some basic charting features BUT I personally don't use it. I use eSignal for charting
Transfer money in/out
- I have HDFC account and transferring money in was easy and quick. Didn't have to call anyone. Just worked fine.
- Didn't get to transfer money out yet
Workspace
- I have configured my own custom workspace with market watch, market depth & order book. All of them update quickly especially the order book after placing an order. I don't have to refresh or reopen order book
- I could save the workspace and set it as default. Don't have to configure it everytime
Login time
- I downloaded security information once that took about 5 minutes. Next time onwards I do not download security info. It takes about 30 sec to login then I am ready to trade
Problems I face
1. Net positions did not show my positions after order execution - couldn't get much help from them. I Was told to install "patch" after downloading it from website. Didn't get much information and was left hanging in the air. I downloaded Kolkata client patch from their website. After copying the files started facing newer issues. Rolled back the patch and then copied just one file "Odin6docomm.dll". That fixed the net positions problem
Everything looks good right now. Overall very happy. BUT if not for the cheap brokerage I would prefer Geojit - good customer service, excellent backoffice & awesome EXE based client. The best I have seen across all brokerages.
Nitin
Here is my feedback on RK Global. I was using Geojit Platinum before this and recently migrated to RK Global. I have been using RK Global for a little over a week now.
Signup process and charges
- I got my account opened with the Mumbai office.
- Took 7 days to process my documents and activate account. They do not have an office in Bangalore and I am based in Bangalore. All the processing happened over phone & courier. Charged 400 for stamp paper, 200 for Demat account & 330 odd for ODIN diet client (last one is recurring monthly).
- They wanted me to send blank form with signatures. I wasn't comfortable with it so I filled as much as I could correctly. Didn't have any issues thereafter.
- I got ODIN diet version 9.
Connection, Quotes, Order processing
- First day I faced problems with connection. Got disconnected frequently. BUT this was not a problem with RK, turned out to be a problem with my net connection. Got Airtel to fix it. Post that it didn't disconnect even once during the trading day
- Quotes are real-time. I use eSignal for data and got same quote across Geojit, eSignal & RK. All of them were in sync
- Order processing is fast. Only today I saw that orders went into "transmitted" status for a couple of minutes before they got confirmed. Since they were stop loss orders it didn't matter to me. But if you are looking to execute immediately then this could be a problem. I faced this only today, rest of the days it was fine - almost immediate execution
Margin
- It is as per NSE. Same margin was charged in Geojit. I did see some members complain about extra margin being charged by RK. Didn't see that problem. Nifty margin today was 26211
- I only trade FnO
Brokerage
- This is the best part. Geojit brokerage was 222 per round trip (buy + sell one lot of nifty). RK is only 76
This includes all taxes & dutiesCharting
- I saw some basic charting features BUT I personally don't use it. I use eSignal for charting
Transfer money in/out
- I have HDFC account and transferring money in was easy and quick. Didn't have to call anyone. Just worked fine.
- Didn't get to transfer money out yet
Workspace
- I have configured my own custom workspace with market watch, market depth & order book. All of them update quickly especially the order book after placing an order. I don't have to refresh or reopen order book
- I could save the workspace and set it as default. Don't have to configure it everytime
Login time
- I downloaded security information once that took about 5 minutes. Next time onwards I do not download security info. It takes about 30 sec to login then I am ready to trade
Problems I face
1. Net positions did not show my positions after order execution - couldn't get much help from them. I Was told to install "patch" after downloading it from website. Didn't get much information and was left hanging in the air. I downloaded Kolkata client patch from their website. After copying the files started facing newer issues. Rolled back the patch and then copied just one file "Odin6docomm.dll". That fixed the net positions problem
Everything looks good right now. Overall very happy. BUT if not for the cheap brokerage I would prefer Geojit - good customer service, excellent backoffice & awesome EXE based client. The best I have seen across all brokerages.
Nitin
Hello Nitin,
Thanks for an excellent overview of your experience with RK. I am keen to know if you can access real-time tick-by-tick data from the ODIN they provide. I talked to their IT person and he said the Diet version will not provide excel link etc.
ALso could you kindly give a similar experience overview for esignal as well? May be in a different thread if possible?
Thanks for an excellent overview of your experience with RK. I am keen to know if you can access real-time tick-by-tick data from the ODIN they provide. I talked to their IT person and he said the Diet version will not provide excel link etc.
ALso could you kindly give a similar experience overview for esignal as well? May be in a different thread if possible?
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