RKSV - Unlimited Online Trading @ 1947/-

[timepass]

Hey RKSV, Appreciate the reduction, but there is a small concern I have in the way you have posted this comment..

If you'd told you have reduced charges, it would have made a lot of sense...

But you went on this rant about ethical etc... Now, today's online trader like me or most on this community are educated...

In today's Stock market turnover, 70-80% of turnover contributions comes from Options... Most people have already stopped trading futures, because I have to pay almost 0.02% on a round trip cost as STT.. I have been interacting with atleast 100 other traders and probably 1 or 2 trade futures and none trade equity... Some of these are also trading with you... Most of the futures trading happens by FII's or institutions who are trying to hedge the beta.. It would be safe to then assume, that 80-90% of your turnover comes from options...

Of what I see from your post or that calculator, the transaction cost for options hasn't changed??? So are you saying that you are unethical for option traders(90% of your clients) and ethical for future and equity traders(10% of your clients).... ?????

The difference won't show up much in 1-2 lots in options futures because the turnover is less. 1 lot nifty option of Rs. 100 will have a turnover of Rs. 5000 (I guess) whereas 1 lot of NF @5300 will have a turnover of 5300 x 50 = Rs. 265000. Is that right, RKSV ?

 

[TradeRaid]

Hi TradeRaid,

Good point. We are not clearing members so we go through another firm so there are differing rates for differing clients (which is why you see transaction costs different for different brokers).
We are working on getting them lower but there is no haircut that is being applied on options right now.

Best,

RKSV

This is the point I was trying to make.. You again wen't back to the point of transaction costs being different for different brokers??

So you are alright being unethical for option traders, pocket the difference in transaction costs??? This is what you have posted and not me...

Haircut for options?? Did my post confuse you so much that you were lost for words ???

I have nothing against you, I am not even your client... But if a person/company is putting up words to take the public for a ride, it is not right...

 

[RKSV]

This is the point I was trying to make.. You again wen't back to the point of transaction costs being different for different brokers??

So you are alright being unethical for option traders, pocket the difference in transaction costs??? This is what you have posted and not me...

Haircut for options?? Did my post confuse you so much that you were lost for words ???

I have nothing against you, I am not even your client... But if a person/company is putting up words to take the public for a ride, it is not right...

Hi TradeRaid,

No you are confusing what I said. Different brokers may charge different rates because of their clearing members relationships.. but it should not be very high.

What I'm saying is we are not making a profit on your turnover, whether for options, futures, or cash. Our options rate of Rs. 8000 is the rate we are getting charged by NSE + Clearing charges.

Also, timepass you are correct, options turnover works like you said.

Best,

RKSV

 

[TradeRaid]

Hi TradeRaid,

No you are confusing what I said. Different brokers may charge different rates because of their clearing members relationships.. but it should not be very high.

What I'm saying is we are not making a profit on your turnover, whether for options, futures, or cash. Our options rate of Rs. 8000 is the rate we are getting charged by NSE + Clearing charges.

Also, timepass you are correct, options turnover works like you said.

Best,

RKSV

Whatever you say!!! ....

 

[my investment]

sir very nice of you to charge actual transaction charges may be very few do it now please tell me when will you give margin against stock so that i can actually use these benifits rather just looking at them

sir jee with discussion going on with trade raid are Ok but kindly answer my question also as you should keep QNA in QUE only :clap:

 

[RKSV]

sir jee with discussion going on with trade raid are Ok but kindly answer my question also as you should keep QNA in QUE only :clap:

Hi my investment,

Hah sorry sir! But no plans to extend stocks against margin as of now. We will have to apologize to you once more for promising that feature in January

Best,

RKSV

 

[AnAtheist]

hello RKSV
i have a query on stump duty ....
I am from kolkata and if i trade with you guys so what rate of Stump duty will apply (stump duty of Maharashtra or West Bengal ) ??
because a member of TJ got mail from a brokerage house that he has to pay stump duty according to WB which is much higher .01% ......

Regards
AnAtheist

 

[RKSV]

Hi guys,

Probably no change for us because we don't have premises in other states. Will research and let you know if anything changes on our end regarding stamp duty.

Best,

RKSV

 

[Trader J]

Guys,

It's been a few months since we introduced the Freedom Plan and it has been a success so far! As we promised earlier, costs are not going to be going up but only down. Our team has been busy understanding more and more about the industry and customer, and most importantly, what the customer requires.

One thing we quickly realized was that there was a very legitimate concern about our turnover costs. Why are some brokers charging Rs250/cr, others Rs500/cr, and still others upwards to Rs 1000/cr for transactions? How can there be so much variance?

Truth of the matter is, when we started in this business we were advised by others to charge close to 500/Rs to cover the cost of clearing work and exchange fees, even if your total fees were significantly lower than 500/Rs. We were told that this is "standard practice" in the industry. While this is legal in the eyes of SEBI, it's not ethical! Whatever costs a broker incurs in exchange and clearing fees should be put under their brokerage slab- not transaction costs! Transaction costs should strictly be fees that are passed directly to your clearing agents and exchanges, not the broker's pocket.

In effect, we have reduced our futures transaction costs from Rs 520/cr to Rs 230/cr and our equities transaction costs from Rs 520/cr to Rs 350/cr. This is the rate we are getting, so it is only fair to charge you the same rate. To give you an example of how this is good for you, if you were to do 1 cr turnover on nifty (around 20 lots), as a customer, you would be saving Rs. 290.

We have put up a detailed (and better) P&L calculator on our website at http://rksv.in/calculator.php for you guys to see how much you'll pay, and what your break-even looks like. You can see the new transaction costs on our FAQ here http://rksv.in/faq.php.

2012 is off to a great start! We will be introducing more great things this year.

Best,

RKSV

P.S. This is not an April fools joke!

GREAT NEWS !! Congrats RKSV....Now you really heat up the competition...Really more cost saving for traders. You are wrong that saving Rs 290, its more because of Service tax (Now @ 12.36 %) is Rs 35.84, so total is Rs 325.84, and its Rs 16 per lot of NIFTY, Great !! Thanks:clap::clap:

 

[RKSV]

Hey guys,

Question for the TJ members out here, what is the best trading platform or service you have used for charting? Any specific broker software or is it a website that you subscribe to?

Best,

RKSV