Upstox - RKSV - Trade in Rs 20 Max

[RKSV]

Hello RKSV,

(ignore my previous post if it gets approved)

Can you please define "5 Free Trades per month"?

Is one trade means only 200 lots of nifty option?
OR
Is one trade means basket order of 4,000 lots of nifty options?

The exchange only lets you place 200 lots of NIFTY at one go (for both regular and basket orders). For basket orders, let's say you place the order of 200 lots NIFTY 10 times. The first five will be free and the rest will be counted as payable orders.

 

[manjunnovates]

Can any RKSV user confirm if there was any problem with the terminal today, especially morning when Zerodha was having.

 

[kharikumaar]

Could you also clarify on how the transaction tax charges would be.

 

[RKSV]

Could you also clarify on how the transaction tax charges would be.

Hi,

The charges are there on our PnL calculator -- http://rksv.in/trading/tools/pnl-calculator/. Take a look at it there. We are working on bringing them down

 

[iTrade]

Your dreams plan does not give 20x leverage..that is only when you use cover orders, right ?
Is that the case with other plans as well to mandate cover orders for higher leverage ??

 

[RKSV]

Your dreams plan does not give 20x leverage..that is only when you use cover orders, right ?
Is that the case with other plans as well to mandate cover orders for higher leverage ??

You are correct -- we haven't changed intraday leverage among the three plans yet. We are testing it out on our systems and will try to roll it out soon. Dream Plan will remain the same. The other two will get more intraday (MIS) leverage on Cash.

 

[manjunnovates]

Can any RKSV user confirm if there was any problem with the terminal today, especially morning when Zerodha was having.

No one?

@RKSV may say

 

[trade4putuval]

Yep Test123, I too place a dummy order in the morning..... though at open (9.15) and then cancel it immediately. It's a waste of time, but will take up your idea of placing pre-market order. So that will help. But the issue is actually not resolved, since I log in again (evening) for 2nd session for trading commodities. So I need to ensure that I place a dummy order and then cancel it, if I am supposed to be trading live... without the nuisance of being requested a password..... All my trades (99% atleast) are 'market orders' So this password issue becomes a nuisance after loggin in.

As RKSV have mentioned that they are going to introduce new software (whenever it happens - no release date mentioned) they need to ensure it is designed so that the login and trading password is asked simultenaously... and not when wanting to execute the order. It's system design flaw....

Another feedback : Could RKSV 'invite' traders to do 'dummy' or 'dry runs' on their software before release? At a stage when it is in early beta testing? If they do this, they will be able to get feedback from traders and not by some theoritician sitting in the office. The timing of asking password at the time of wanting to execute a trade is in my view similar to requiring one before using a fire extinguisher..... So rather than designing a system and then correcting it later, with a beta version, they can get rid of flaws or have improvements that need not be worked out later. I hope somebody in RKSV is listening....

Hi DSM,

I guess this was the state 2 to 3 years back. We use to enter the trading password and transaction password together during login. After that, the technique changed, and now they are asking for the password while entering the trade. There must have been some risks associated with keeping the transaction password at login.

Something has changed that forced most of the system to adopt this approach. @RKSV, please check along this line first.

 

[DSM]

Thanks Trade4Putuval,

While I do agree with you that this may be have been done on the basis of risk assessment, best practices etc, the real impact of this practice is detrimental to a trader, and the trader will be a loser. By necessitating password at the time of actual trade, risk is actually CREATED for a trader - with an unrequired layer of legal protection for the broker - (this is not mandated by law.) What happens in reality, is that many traders will enter dummy order and cancel, so as to be live. What if somebody forgets? And for a trader who logs in the evening session for MCX, this is a problem, as he is forced to make dummy orders in a live market.

So bringing this up, as everyday, twice I have to put in dummy order - just to cancel. Multiply this by the no. of traders who use this 'go around' - and you will have a small % of traders who would forget to cancel. So such practice, while ensuring no liability on part of the the broker who are insuring and 'double padding' themselves against non existing risk, this practice becomes detrimental and is against the interest of the trader. We as traders need ensure our concerns and problems are addressed by brokers - and not accept 'bad practices' from a trader's that is thrust upon us. The brokerage house will always ensure that they put their interest ahead. Sure. But not at the cost of or risk to the trader/customer. - Just my 2C.

Hi DSM,

I guess this was the state 2 to 3 years back. We use to enter the trading password and transaction password together during login. After that, the technique changed, and now they are asking for the password while entering the trade. There must have been some risks associated with keeping the transaction password at login.

Something has changed that forced most of the system to adopt this approach. @RKSV, please check along this line first.

 

[RKSV]

No one?

@RKSV may say

Nope... There were some hiccups with the BSE that morning but I believe it was resolved shortly.