Upstox - RKSV - Trade in Rs 20 Max

[market oracle]

Rksv, reply to post 2221

 

[suri112000]

RKSV,

I have a single trading account, that is with you. Even since I opened the account with you, I have been receiving call from various scrupulous advisory companies asking me to take their advisory services. When I enquired them how they got my mobile number, my trading account details, they say they have a database of trading, demat, mobile numbers and email which are registered with the brokers.

I have a high degree of trust posed on your brokerage. Despite that, it clearly indicates that my details are leaked from your side.

Whom can be trusted in this financial jungle.

 

[Snake.Head]

Suri was it from Indore based firm.Even i got call few month back.
@RKSV Kindly look into this matter

RKSV,

I have a single trading account, that is with you. Even since I opened the account with you, I have been receiving call from various scrupulous advisory companies asking me to take their advisory services. When I enquired them how they got my mobile number, my trading account details, they say they have a database of trading, demat, mobile numbers and email which are registered with the brokers.

I have a high degree of trust posed on your brokerage. Despite that, it clearly indicates that my details are leaked from your side.

Whom can be trusted in this financial jungle.

 

[RKSV]

Rksv, reply to post 2221

Hi market oracle,

Sorry about that, not sure how we missed that post.

Not too sure about that website- but in a nutshell, we are profitable since mid 2014 and were not the previous year since we have been bootstrapped since day one using the profits we earned from running a managed trading firm in the US.

We're also huge believers of continuously growing our customer base through building amazing products and providing the best customer service.

An educational initiative like Trade Academy that has 10,000 users in a span of a week doesn't happen by itself ;-) And we will continue building innovative tools for our customers. It's just the way we think and work!

I hope that answers your question

 

[RKSV]

RKSV,

I have a single trading account, that is with you. Even since I opened the account with you, I have been receiving call from various scrupulous advisory companies asking me to take their advisory services. When I enquired them how they got my mobile number, my trading account details, they say they have a database of trading, demat, mobile numbers and email which are registered with the brokers.

I have a high degree of trust posed on your brokerage. Despite that, it clearly indicates that my details are leaked from your side.

Whom can be trusted in this financial jungle.

Hi suri112000,

We want to first thank you for keeping your trust with us and for raising issues like this. It might sound cliche, but we truly value trust and customer satisfaction above everything else. Retaining your customers' trust is paramount, and in order to do that you need to take every single step to ensure that you are retaining it.

We take issues like this very seriously. A few months ago, this same issue came up from a few customers. We did a month long investigation. A firm named Epic Research, based out of Indore, was getting information from many brokers through some channel. It was not directly through our database in any way, shape or form. We never disclose our customer's information. We value client confidentiality above everything else at RKSV. We have very stringent rules and regulations in place. In the case of the Indore based firm, the issue seemed to have been resolved.

We're going to look into the matter again. If you can share any info with us through a PM, it would be helpful.

We strive to protect the information of our customers and will continue to do so. Please share any and all information with us. We'll keep you updated if we come across anything.

Thanks.

 

[cloudTrader]

Hi suri112000,

We want to first thank you for keeping your trust with us and for raising issues like this. It might sound cliche, but we truly value trust and customer satisfaction above everything else. Retaining your customers' trust is paramount, and in order to do that you need to take every single step to ensure that you are retaining it.

We take issues like this very seriously. A few months ago, this same issue came up from a few customers. We did a month long investigation. A firm named Epic Research, based out of Indore, was getting information from many brokers through some channel. It was not directly through our database in any way, shape or form. We never disclose our customer's information. We value client confidentiality above everything else at RKSV. We have very stringent rules and regulations in place. In the case of the Indore based firm, the issue seemed to have been resolved.

We're going to look into the matter again. If you can share any info with us through a PM, it would be helpful.

We strive to protect the information of our customers and will continue to do so. Please share any and all information with us. We'll keep you updated if we come across anything.

Thanks.

Yeah true , I was amongst one of the earliest victims of this marketing agenda by Epic Research. I reported to RKSV and since then the calls from the said company have stopped .

 

[suri112000]

Hi suri112000,

We want to first thank you for keeping your trust with us and for raising issues like this. It might sound cliche, but we truly value trust and customer satisfaction above everything else. Retaining your customers' trust is paramount, and in order to do that you need to take every single step to ensure that you are retaining it.

We take issues like this very seriously. A few months ago, this same issue came up from a few customers. We did a month long investigation. A firm named Epic Research, based out of Indore, was getting information from many brokers through some channel. It was not directly through our database in any way, shape or form. We never disclose our customer's information. We value client confidentiality above everything else at RKSV. We have very stringent rules and regulations in place. In the case of the Indore based firm, the issue seemed to have been resolved.

We're going to look into the matter again. If you can share any info with us through a PM, it would be helpful.

We strive to protect the information of our customers and will continue to do so. Please share any and all information with us. We'll keep you updated if we come across anything.

Thanks.

I know it is embarrassing for you to face such allegations.

Please take care that no insider's play is involved.

My concern is that I got around three to four hundred calls from these stupid advisories in the last 1 and half month time. And about 2000 SMS. My number is exclusively for my personal use except for your end of day trading SMS. These people do not conclude the call, they keep on persuading and kill my valuable time and peace of mind. They try to put me in embarrassing position if I do not go for their advisory. I am trading while keeping my day job. Just imagine, how disturbed I would be when I receive such calls while in office / on my personal work/trading terminal.

Many times I thought of closing the trading account. Also, thought of changing my mobile number which I am using for the last 10 years or so.

Now, I changed my tactics with them. Whenever I receive a call from them, I am demanding them that from which source they have got my number if at all they want to continue the call. They started disconnecting the calls immediately. And the calls and SMS started reducing.

The issue is very serious and take a stringent action against the culprits.

 

[market oracle]

RKSV,

The reason I asked you about your profits in FY2014 was because your P&L speaks volumes about ur business model.. You have upwards of 20,000 customers maybe? And inspite of that, you're returns are meagre.. Its like this rat race! It shows that 20/trade, is not a good revenue generating idea. I mean, if a company with 20,000 customers makes 69 lakhs, and a loss in the previous year, it goes to show that ur no frills business model is lopsided. Just like how u said, you want to build products and new things to provide customer satisfaction, it is inevitable to incur expenses that will dent ur bottom line.. On top of that you give cash credits/5 free trades etc.

Do you think you will ever make more than 5cr. In profits in future? If yes, with how many clients is that achievable.?

 

[LivetoTrade]

Hi suri112000,

We want to first thank you for keeping your trust with us and for raising issues like this. It might sound cliche, but we truly value trust and customer satisfaction above everything else. Retaining your customers' trust is paramount, and in order to do that you need to take every single step to ensure that you are retaining it.

We take issues like this very seriously. A few months ago, this same issue came up from a few customers. We did a month long investigation. A firm named Epic Research, based out of Indore, was getting information from many brokers through some channel. It was not directly through our database in any way, shape or form. We never disclose our customer's information. We value client confidentiality above everything else at RKSV. We have very stringent rules and regulations in place. In the case of the Indore based firm, the issue seemed to have been resolved.

We're going to look into the matter again. If you can share any info with us through a PM, it would be helpful.

We strive to protect the information of our customers and will continue to do so. Please share any and all information with us. We'll keep you updated if we come across anything.

Thanks.

RKSV, I am client with another broker, but was exploring possibilities with your team too.

The phone number I shared with RKSV was a new one, but within a week, I started receiving phone-calls/SMS/ tips/ promotions from third-party agencies.

This was one very important reason as to why I did not open an account with you.

 

[RKSV]

RKSV, I am client with another broker, but was exploring possibilities with your team too.

The phone number I shared with RKSV was a new one, but within a week, I started receiving phone-calls/SMS/ tips/ promotions from third-party agencies.

This was one very important reason as to why I did not open an account with you.

Hi LivetoTrade,

We're really sorry to hear that. Did you submit your information directly through our website? We take client confidentiality very seriously and have mitigated situations in the past, but this is really odd if you did not open an account.

Could you send us a PM with your phone number and we'll have one of our directors give you a call? It would be very helpful.

Thanks.

RKSV,

The reason I asked you about your profits in FY2014 was because your P&L speaks volumes about ur business model.. You have upwards of 20,000 customers maybe? And inspite of that, you're returns are meagre.. Its like this rat race! It shows that 20/trade, is not a good revenue generating idea. I mean, if a company with 20,000 customers makes 69 lakhs, and a loss in the previous year, it goes to show that ur no frills business model is lopsided. Just like how u said, you want to build products and new things to provide customer satisfaction, it is inevitable to incur expenses that will dent ur bottom line.. On top of that you give cash credits/5 free trades etc.

Do you think you will ever make more than 5cr. In profits in future? If yes, with how many clients is that achievable.?

Hi Market Oracle,

You're asking some very good questions

Our mission is simple: to continuously build great products, provide incredible customer service, and always leverage technology. That's been our motto since day one! And that's how we've been able to build up our loyal customer base at such a rapid pace.

Also keep in mind that we're just 3 years old ;-) And so for us, to be profitable and to be one of the top low-cost brokers in India is fantastic.

As far as your last question is concerned...time will tell

I know it is embarrassing for you to face such allegations.

Please take care that no insider's play is involved.

My concern is that I got around three to four hundred calls from these stupid advisories in the last 1 and half month time. And about 2000 SMS. My number is exclusively for my personal use except for your end of day trading SMS. These people do not conclude the call, they keep on persuading and kill my valuable time and peace of mind. They try to put me in embarrassing position if I do not go for their advisory. I am trading while keeping my day job. Just imagine, how disturbed I would be when I receive such calls while in office / on my personal work/trading terminal.

Many times I thought of closing the trading account. Also, thought of changing my mobile number which I am using for the last 10 years or so.

Now, I changed my tactics with them. Whenever I receive a call from them, I am demanding them that from which source they have got my number if at all they want to continue the call. They started disconnecting the calls immediately. And the calls and SMS started reducing.

The issue is very serious and take a stringent action against the culprits.

Hi suri112000,

We appreciate your question/concerns. If it wasn't for such questions, we could not get issues resolved. Do send us a PM with any and all information you come across. We'll take up the issue immediately.

Thanks.