Upstox - RKSV - Trade in Rs 20 Max

[augubhai]

All clients who joined before Apr 1, can always switch between the Freedom Plan, Dream Plan and the new Pro/Ultimate plans. The Pro/Ultimate plans will have premium features attached to it that you won't find in other brokerage firms.

I think this means that an old customer can retain his Freedom Plan, if he doesn't want the premium features.

But a discount broker offering only "premium" plans to new customers... funny

 

[RKSV]

All existing customers can switch to/from Freedom Plan, new Dream Plan, Pro/Ultimate Plans.

The new plans are going to cover new order types and new tools. Since we launched FP in 2012, we've started investing a lot more in custom software and tools. Those will come with the new Pro/Ultimate plans. For the meantime, we have dropped Dream Plan across the board for new and existing customers.

Ultimate Plan just offers more margins as of now -- we have many guys who trade on all three segments and would like more leverage. More tools/features will be added in the coming months.

 

[DSM]

Guys, I will have to work out now which of the plans is 'less damaging' to me. One thing however fail to understand why a customer is penalized for giving you more business - see highlighted below. The maths just does not not make sense. If the customer opts for all the plans together, he loses 1,002!!! I thought it was a mistake, but it isn't.

Also, as you are talking in terms of what new Pro/Ultimate plans will offer, (which is nothing for now) can you elaborate what you will offer with a tentative timetable for the same.?

Anything on Bulletin board suggestion?
Any improvement in charting without subscribing to extras? - The higher fees should do, no?


Also, three combined plans 1,999+2,999+3,999=8,997
Ultimate plan which is essentially the combination of the above=9,999 i.e 1,002 higher (with a bit more of exposure thrown in) How does this make sense?

All existing customers can switch to/from Freedom Plan, new Dream Plan, Pro/Ultimate Plans.

The new plans are going to cover new order types and new tools. Since we launched FP in 2012, we've started investing a lot more in custom software and tools. Those will come with the new Pro/Ultimate plans. For the meantime, we have dropped Dream Plan across the board for new and existing customers.

Ultimate Plan just offers more margins as of now -- we have many guys who trade on all three segments and would like more leverage. More tools/features will be added in the coming months.

 

[RKSV]

Guys, I will have to work out now which of the plans is 'less damaging' to me. One thing however fail to understand why a customer is penalized for giving you more business - see highlighted below. The maths just does not not make sense. If the customer opts for all the plans together, he loses 1,002!!! I thought it was a mistake, but it isn't.

Also, as you are talking in terms of what new Pro/Ultimate plans will offer, (which is nothing for now) can you elaborate what you will offer with a tentative timetable for the same.?

Anything on Bulletin board suggestion?
Any improvement in charting without subscribing to extras? - The higher fees should do, no?


Also, three combined plans 1,999+2,999+3,999=8,997
Ultimate plan which is essentially the combination of the above=9,999 i.e 1,002 higher (with a bit more of exposure thrown in) How does this make sense?

Hey DSM,

The exposure makes a huge difference to some traders. Guys who had about 40K free after margin block had it bumped to 1 lakh after they switched from FP to Pro.

Charting wise -- yes we're also taking on new initiatives with trading software. We are investing way more into software than before. FP was launched when we were using outsourced software such as NSE NOW. We're now moving away from that model.

 

[Punter786]

This 20x leverage is available for which NSE scrips Sir?

Thanks

 

[vikramiyer]

Received your mail introducing your new plans.
Kindly clarify this part
Our Freedom Plans are no longer available to new clients. As a longtime customer, you can always stay or switch to the Freedom Plans.
As an existing customer, can I continue with the 1947 Freedom plan?
Or do I have to switch to the Dream Plan or Pro/Ultimate Plan?

 

[balab]

Hi RSKV
The 3x for currency is available on NOW platform as well?... or only for NEST?
These plans seem very expensive... compared to the competition. Compared to my freedom plan I pay 999 for currencies and just for 1x more leverage I have to pay Rs 1000 per month more? How does that seem fair? In fact Achiievers is going to offer all customers 3x leverage at Rs 750 per month unlimited under the new plan... you guys have become expensive!!! Am I right or wrong?

 

[DSM]

The hike in pricing for unlimited trading in NSE F&O is a killer, and for commodities it is a kicker - without giving any corresponding benefit (intraday margin - which is anyway cleared off intraday) So by paying 50% and 100% more, what do we get? Nothing. There is a vauge promise of some improvement. What exactly will we get? Can it be specified? Can we have the timeframe? Would it not be apt to hike fees reasonably and coinciding with upgrades of the software? Unfortunately, once the brokerages have a certain momentum, they don't really care. Have seen this before. Response from RKSV to my specif question is not forthcomming. And these charges are revised without keeping RKSV's customers well being in mind.

So what do we get in return for a hefty hike in charges? - Babaji ka Thullu!!

Hi RSKV
you guys have become expensive!!! Am I right or wrong?

 

[balab]

Well the only silver lining is that existing customers can keep the freedom plan they have already... that is probably what I will end up doing, as long as it lasts. Beyond that, it may make sense to move on from RKSV.

 

[RKSV]

Hey guys,

We understand it's not easy to change pricing at many times. Since FP, we have launched cover orders and NEST which we started having higher maintenance fees for. On top of that, we want to introduce our own trading software and tools which is in the works. Can't comment on how other brokers price their unlimited plans but we've also been doing this for over two years now and want to move beyond using commodity software.

Traderji has always been a great soundboard of ideas for us and this community means quite a bit. If anyone feels left out of the Freedom Plan, just let our customer support team know that you still want to be able to have the option for FP now and in the future. We will extend it for the month of April. Mention that you saw it on Traderji and we will note down in your account that you'll have FP now and in the future.