R K Global Issues!

[nitinsy]

nitinsy,
I have been using their Web-based platform for a few months now, but it is good (especially when there is no proxy involved). Things have been near-realtime (I compared to the quotes coming from Live TV / Yahoo Finance and my other brokerage account, and found RKG just as fast. Even the execution of order has been pretty decent). Only thing that pisses me off is transiting from Market-watch to any other view and back to market-watch. I haven't used ODIN. Why did you say web-based is useless pretty much? Could you kindly be specific (I would like to know if ODIN works considerably better).

I found it very slow. I have a 2Mbps connection from Airtel. That rules out problems at my end. I was using the lite version. Couple of times I got error in market watch and other times it was too slow to be usable.

ODIN works quite well and order execution is fast. Quote do hang once in a while but a quick disconnect/reconnect to the broadcast server solves it. You don't have to restart ODIN

Nitin

 

[Raju]

Hi columbus ,

You had some problem with the web based.Was it solved ? I am planning to open acct. with them (web based) . But i am still waiting for reviews . I am waiting for last 2 months for review.Hope to get good service from them.

Thanks,
Raju

 

[columbus]

Hi columbus ,

You had some problem with the web based.Was it solved ? I am planning to open acct. with them (web based) . But i am still waiting for reviews . I am waiting for last 2 months for review.Hope to get good service from them.

Thanks,
Raju

Hi Raju,
The problem is partially solved.Earlier I was not able to place
orders at all.Now I am able to place order but not able to modify
the price.RKG people suggested me to use IE instead of Firefox.
It did not solve problem completely.I would like to know if anybody
is using WEB version with Firefox.

 

[Raj232]

Hi everybody,

I had opened an account with RelianceMoney and when their representative came across, he had asked me to carefully write out the details as it was already on a Franked-Stamp paper. Once he completed the filling out he asked me to take a zerox copy (I was in my office and the zerox was available). Then he finally did the stamping using some relianceMoney rubber stamp. He aslo gave me counterfoil receipts for the intial money paid for account opening, etc.

Nothing like this happened with RK Global. The representative came, took 2 cheques, Rs 110 (advance money for 1 month web-based software rental) and Rs 200 (Franking carges for stamp paper that would be used) needless to say that the form was not a franked stamp paper !!!

I did not receive any copy of the account opening form. On asking him he said that there is no need of any copy and they did not have such a practise of giving any copy to the customer. Also, there was no receipt given for the 2 cheques given to him.

All in all .... I do not have copy of any record of papers signed, nor do I have any receipt of any money paid, etc.

Tomorrow even if all goes well, and i transfer 10 lac to RK Global trading account, and make it 10 crores after 1 year, I have absolutely no safety with this as SEBI has made it clear that you need to have all your papers intact for proof before filing any complaint.

I am really surprised at the way of working at RK Global and comnfused at the same time.

 

[Raj232]

Re: R K Global Issues! - Account opening & POA

Are you in any of the cities where RKG has an office? Even I haven't received any thing from them, but I do not think they can just wanish like that. You will have an electronic record of every transaction; Contract notes, everyday trades / orders, money transfer records etc. Unless they really have an intention to assign someone's bad trades to your name, they can't steel a penny out of you without you knowing (and I don't think it is easy to assign just any trade to your name unless you have started the trade).
Also, I guess SEBI has strict rules on who can become a brokerage house and they probably ask for deposits beforehand. I do not see many issues like them running off overnight.

Disclaimer: I am a customer of RK Global, and I do not guarantee anything on behalf of them.

Hi Prashyrao,

Thanks for your reply. Even I would not expect them to vanish Nevertheless, whats the next step if that eventually happens ?

e.g. you have transferred you hard-earned money to their website from your HDFC bank account of say 10 Lacs (which is all that I have presently). If they suddenly shut-shop for whatever reason or file for bankruptcy, what would happen ? we dont have a single paper to show that 10 lacs is what they owe me. What I could only show is that Rs 10 Lacs has been transferred to my a/c on their website, but again that is disputable as I dont have any papers to show that I have an account with them.

They could very well state that the 10 lacs was for payment to some other services, previous offline transaction, etc.. etc.

I have seen account opening of RelianceMoney, Indiabulls and Kotak. They followed a different procedure which was to give a copy of the agreement to the customer as well as receipts for the money clearly stating what the money was for. In RKG, I did not see anything of that kind which makes me doubt.

I know at some time even a reputed broker like IndiaBulls got into some controversy of buying/selling on clients name, but somehow came out of the controversy (whether by using their money clout or influence or whatever). These things happen all the time and I dont want to be a victim

I request everyone to post their experience with RKG whether they received a copy of the agreement or not. At least I could be sure that I am not being made a BAKRA by the representative. :lol:

Regards,
Raj

 

[columbus]

nitinsy,
I have been using their Web-based platform for a few months now, but it is good (especially when there is no proxy involved). Things have been near-realtime (I compared to the quotes coming from Live TV / Yahoo Finance and my other brokerage account, and found RKG just as fast. Even the execution of order has been pretty decent). Only thing that pisses me off is transiting from Market-watch to any other view and back to market-watch. I haven't used ODIN. Why did you say web-based is useless pretty much? Could you kindly be specific (I would like to know if ODIN works considerably better).

Hi Prashyrao,

I have been using RKG's web-version for last one month.
I have few doubts.

1.RKG's security certificate is not at all secure.
One remedy to this is to enter RKG's website
trough http://www.rkglobal.net/Disclaimer.asp.

2.I am using Firefox and representative from RKG
advised me to use IE instead.What is the browser
you are using?

 

[nitinsy]

1. Certificate - there is no problem with the certificate as such. Access it using the following URL and you won't see the certificate issue https://rkglobal.net/rkglobal/

This occurs because certificate is issued to rkglobal.net domain whereas everyone tries to access as www.rkglobal.net

2. I use Google Chrome or IE. Never liked Firefox
As the rep said use IE, works well on that.

 

[prashyrao]

Hi Prashyrao,

I have been using RKG's web-version for last one month.
I have few doubts.

1.RKG's security certificate is not at all secure.
One remedy to this is to enter RKG's website
trough http://www.rkglobal.net/Disclaimer.asp.

2.I am using Firefox and representative from RKG
advised me to use IE instead.What is the browser
you are using?

Hi Columbus,

Sorry, was busy for a while. I think nitinsy answered both the questions. I use usually GChrome, but sometimes IE7. I do not worry about the certificate error. Also, when not connected via proxy, I feel Web based is as good as ODIN.

 

[PGDIMES]

Hello Everybody,
Recently one of my friends suggested me to go for RKG for intraday trading. But before opening an account I want to know the stocks in which I can do intraday i.e. margin trading. So it will be helpful if any RKG client can update the list of stocks available for margin trading.

 

[columbus]

1. Certificate - there is no problem with the certificate as such. Access it using the following URL and you won't see the certificate issue https://rkglobal.net/rkglobal/

This occurs because certificate is issued to rkglobal.net domain whereas everyone tries to access as www.rkglobal.net

2. I use Google Chrome or IE. Never liked Firefox
As the rep said use IE, works well on that.

Hi Columbus,

Sorry, was busy for a while. I think nitinsy answered both the questions. I use usually GChrome, but sometimes IE7. I do not worry about the certificate error. Also, when not connected via proxy, I feel Web based is as good as ODIN.

Hi nitinsy & Prashyrao,

After installing Google-Chrome ,all the problems I faced
with RKG-web version ,appears to be subsided.