Upstox - RKSV - Trade in Rs 20 Max

[RKSV]

@ RKSV ,

Your support website for opening tickets for solution of problems is really a boon. I appreciate your efforts regarding this help site. I got the resolution quite fast through your support team . :clapping:

I hope of getting cool features from you on regular intervals .

Thanks.

That's the goal! Glad to hear you like it. More will be coming later!

 

[eastern]

RKSV,

I have a form which I received from you few months ago. That time I decided not to open an account because of 60% F&O intraday margin.

But as I came to know that you have slashed the margin requirement from 60% to 50% I want to open the account now. So I have the following questions:

1. I have the old form, will that work?
2. Also how much is the account opening fees? One member of TJ told me that as I have received the forms from you, I need to pay Rs. 350 for that, is it true?

 

[RKSV]

RKSV,

I have a form which I received from you few months ago. That time I decided not to open an account because of 60% F&O intraday margin.

But as I came to know that you have slashed the margin requirement from 60% to 50% I want to open the account now. So I have the following questions:

1. I have the old form, will that work?
2. Also how much is the account opening fees? One member of TJ told me that as I have received the forms from you, I need to pay Rs. 350 for that, is it true?

Hi eastern,

Yes we dropped to 50% several months ago. Regarding your questions:

1. Recommend you get the latest form at www.rksv.in/files/FormA.pdf
2. You can just print out the online form and send Rs. 250.

Let us know if you have any more questions.

 

[psvaja]

RKSV,

Can you please explain margin requirement for optios spreads like credit spreads or calendar spreads ?

Thanks

Pravin

 

[sibu3168]

Dear RKSV,

I've an a/c with icicibank. It was a very old a/c and it was opened at Delhi. Due to some personal problem I had to come to Orissa, my native place. Unfortunately, due to the lack of transaction, it was got inoperative. So, I've to open a new a/c with ICICI Bank which was just one and half month old. So please advise me, how can I opened an account with you and can able to trade in F&O segment.

Thanks

 

[RKSV]

Dear RKSV,

I've an a/c with icicibank. It was a very old a/c and it was opened at Delhi. Due to some personal problem I had to come to Orissa, my native place. Unfortunately, due to the lack of transaction, it was got inoperative. So, I've to open a new a/c with ICICI Bank which was just one and half month old. So please advise me, how can I opened an account with you and can able to trade in F&O segment.

Thanks

Hi sibu,

We might be able to work something with your ITR (Income Tax Records) and salary slips as long as it's compliant. Call our office and ask for Amit or Roopa and they can go over your situation in detail to see what we can do.

 

[RKSV]

RKSV,

Can you please explain margin requirement for optios spreads like credit spreads or calendar spreads ?

Thanks

Pravin

Hi psvaja,

That's all calculated using SPAN. You can read more about how the NSE (and most global exchanges) calculate margin requirements at http://www.nseindia.com/products/content/derivatives/equities/nsccl_span.htm

 

[timepass]

Hello RKSV,

Maybe some of the following have been asked before, but again..

1) How many customers do you have ?

2) How is the money of the customers safe with you ? Is it indemnified by some bank or NSE or SEBI or something ? Just in case of natural calamities or something.

3) What is your average daily turnover ??

4) What are your future plans ? Additional segments ?
.


PS : These queries aren't mine, but a result of your growing popularity and public interest. As usual, the public thinks "How can they afford it ? There must be some ghapla". Also, they would like to believe, but just need some more info.

 

[DataRam]

Hello RKSV,

Maybe some of the following have been asked before, but again..

1) How many customers do you have ?

2) How is the money of the customers safe with you ? Is it indemnified by some bank or NSE or SEBI or something ? Just in case of natural calamities or something.

3) What is your average daily turnover ??

4) What are your future plans ? Additional segments ?
.


PS : These queries aren't mine, but a result of your growing popularity and public interest. As usual, the public thinks "How can they afford it ? There must be some ghapla". Also, they would like to believe, but just need some more info.

I agree that this is really an appropriate time for RKSV to answer these questions for a greater clarity on its Business Model and expansion plans so that would be customers have a better understanding [even the present members too].

I want to refer some of my friends to RKSV but unfortunately all individuals are not same and majority of them are really skeptic about committing money for lack of information [lot of information] referring to questions mentioned above.

RKSV's plan is revolutionary but to keep this revolution going on public demand should be heard.

 

[RKSV]

Hey guys,

Will try to address most of this. These are very good questions and we had to pull in people from high-level teams to get them addressed. Let me first start by saying that we have found a sustainable profit model and that we are not losing money by any means. Many competitors have told our clients such things and it's simply not true. You should instead ask them to lower their prices. What we provide is not a "promotion" model of any sort and many of you here are able to see that.

Our current model is to cater to guys who do a lot of trading and don't require all the bells and whistles that come with a full service brokerage account (advice, tips, margin against shares, etc..). We keep our costs low by having one office that employs multilingual associates and services Pan-India. The customers are generally young, know how to trade, and have a good understanding of technology. They don't want to be bothered by calls such as "Sir, Nifty is 5 points down, do you want to buy?" Furthermore, compliance is and always will be our topmost priority -- every one of our customers had to get a webcam IPV, and we are very strict about this compliance requirement. These are preventative actions taken to ensure that we are fully compliant with SEBI, while keeping our costs low.

Our future plan is to continue servicing clients. Adding segments will help us attract new customers, but if we are not able to provide the same (or better) level of service, it will have to wait.

It is our policy to not reveal user counts and trading turnover. Such facts are not verifiable and even the biggest brokers have gone bust in the past. But, let me go through some of our core values that we stick by.

One of our core values is to stay ahead in technology. The founders are all geeks who come from pro-trading backgrounds. The three of them have done schooling from the US (not just college). With experience in working with world-class pro and retail brokerage platforms, we want to make sure that whatever decisions we make in terms of investing in technology, the result will be an amazing one. It may take us a while to evaluate how to move forward on this front but it's only because we are treading carefully.

Another core value is to do business with honesty and ethics. This industry has its fair share of bad customer service and unethical practice; we want to change this image. Putting your money in a "finance company" should not be akin to a scam as it was in the 90s. India is becoming a global player and it is time we start changing the way we do business.

Whew, long post! We are growing guys, and it is an exciting time for us as well. In the next few months, we will have more people join the RKSV team than we had when we introduced the Freedom Plan to all of you.