Upstox - RKSV - Trade in Rs 20 Max

[neon_786]

Hi Virgo,

On the second query -- yes we allow bracket orders on the platform.

On the first query -- we are pushing for market orders on the option sell side fairly soon... While ideally we do want to leave such decisions to the trader, a simple mistake has turned out to be costly for us and the trader many times.

We had an instance where a trader was looking to buy a scrip priced at Rs. 20 - 30 for a quantity of 1,000 so he expected to spend Rs. 20k - 30k. However, on that illiquid stock, the full quantity wasn't available at 20 - 30 rupees and it soon went to almost 100 rupees. Since NEST RMS can't calculate the real time liquidity of every scrip, it allowed the order to go through. Immediately the client went in debit and we had to square off his position at a loss. Both us and the client had to share a loss of over 70K on a simple trade.

This is always the risk of buying options @ market price. Ideally if NEST could monitor option instruments and categorize them by "liquid" and "illiquid" realtime, it would be the best solution.

We are looking at other ways to address this problem. Maybe have some sort of market protection order when buying options.

@RKSV: Bracket Order?? I think you'd like to correct that to Basket Order?

 

[RKSV]

@RKSV: Bracket Order?? I think you'd like to correct that to Basket Order?

Yes... scratch that.. meant Basket Order.

 

[love2trading]

hi rksv,

can you pls tell how many customers you having...

In one brokerage house "Ze..dha" they told in their website "30000+ happy clients and growing".

can you pls tell me how many clients you having..

thank you
:clapping:

 

[manjunnovates]

@ RKSV Most of the retail clients dont sell options and you know that. So push for market orders for buying options soon

 

[RKSV]

hi rksv,

can you pls tell how many customers you having...

In one brokerage house "Ze..dha" they told in their website "30000+ happy clients and growing".

can you pls tell me how many clients you having..

thank you
:clapping:

Hi,

Around 9K clients as of now

 

[RKSV]

@ RKSV Most of the retail clients dont sell options and you know that. So push for market orders for buying options soon

Yep.... it's a little bit more time consuming but we are looking into it.

 

[RKSV]

For those of you looking at NEST videos on RKSV -- we created a set of instructional videos on our YouTube channel recently: http://www.rksv.in/blog/2013/12/rksv-nest-trader-platform/

 

[RKSV]

A small piece on algorithmic trading on Hindu Business Line: http://www.thehindubusinessline.com/features/investment-world/market-watch/algorithmic-trading-is-here-to-stay/article5433826.ece

 

[love2trading]

hi rksv,

i am from tamilnadu...

for me stamp duty charged according to tamilnadu or maharastra ??

pls tell me sir

tamilnadu is high stamp duty charged.

i am waiting for your reply sir

thanks :clapping:

 

[RKSV]

hi rksv,

i am from tamilnadu...

for me stamp duty charged according to tamilnadu or maharastra ??

pls tell me sir

tamilnadu is high stamp duty charged.

i am waiting for your reply sir

thanks :clapping:

Hi sir,

Yes, we are aware of TN's high stamp duty. As of now, we have rolled out separate stamp duty charges for UP (cheaper than MH).

Starting Jan 1, we will charge Karnataka residents, KA stamp duty. This will be followed by AP customers. TN customers will be charged MH stamp duty.