Upstox - RKSV - Trade in Rs 20 Max

[sibu3168]

Dear RKSV,

Don't you think the charges in Currency Option Segment is on higher side.
NSE is charging between Rupees 3000/- to 4000/- per crore whereas you are charging Rupees 7500/- per crore (it is almost double from their higher limit.). In fact, it is ridiculously high. Can you clarify this abnormality? I hope you will take some appropriate step to come down these charges.

Thanks

 

[RKSV]

Hi,

I have been trading in futures (various Stocks) for few months now. These trades are not intraday - i.e they are open for few days atleast. Normally my open positions margins will run upto 10 Lakhs on average.

For this margin money, I have shares as collateral with my broker and some cash. Now when the cash is utilized for the positions and margin money from shares as collateral are utilized, my broker is charging delayed payin charges for the same @ 18%. Is that the way it normally is ?

let me know what is the best option available ?

Regards,
-Tarun.

Hi Tarun,

Not sure... maybe they have a stipulation on rules & regulations to do the same. Probably they don't want clients to hedge against collateral on the fear that the value may depreciate but they may also have the right to sell your shares. Have you tried contacting their customer service dept?

 

[RKSV]

Dear RKSV,

Don't you think the charges in Currency Option Segment is on higher side.
NSE is charging between Rupees 3000/- to 4000/- per crore whereas you are charging Rupees 7500/- per crore (it is almost double from their higher limit.). In fact, it is ridiculously high. Can you clarify this abnormality? I hope you will take some appropriate step to come down these charges.

Thanks

Hi sibu3168,

Yes, probably they are. We have to work on reducing those charges. We do our best to reduce these statutory charges whenever we can. Currency Options segment charges from the NSE are Rs. 3,000 - Rs 4,000 per crore. The Rs. 3,500 clearing may not reduce drastically but will be doing our best. Some of these things take time as volumes build up.

Anyways, we've been able to drop our stock/index options transaction charges from Rs. 8,000 to Rs. 7,150 since inception. Hoping to do the same for currencies in the near future. Thanks for pointing it out.

 

[strongBuddy]

Re: RKSV - Unlimited Online Trading @ 1947/-

Guys, I turned into bulk trader in F&O from last 3 weeks and used zerodha as my broker. I was very much satisfied with it till i heard about RKSV last week and their 1947/- pm plan. On average I trade 12-14 orders per day through zerodha and for last 3 weeks I've paid aprox 6k as brokerage and on this average..It'll come out to be 10k per month If I do 12-14 orders per day on average......But with RKSV - Its always 1947/-plus 200 odd taxes per month so total 2150/- approx.

Result: I rushed all the formalities and dully filled form yesterday to RKSV for new account opening. Hopefully will get account opened by wed/thur. Its definetly worth a try for me and If i see something fishy - will surely go back to zerodha. but for now - thums Up for RKSV. :thumb:

but for each lot you trade you have to pay other charges. It's true that you are paying upfront brokerage for RKSV so that they are not going to charge brokerage for trades you do daily. (i'll ask them how much the other charges will be for each lot i Buy&Sell).

 

[DataRam]

Re: RKSV - Unlimited Online Trading @ 1947/-

but for each lot you trade you have to pay other charges. It's true that you are paying upfront brokerage for RKSV so that they are not going to charge brokerage for trades you do daily. (i'll ask them how much the other charges will be for each lot i Buy&Sell).

Just see RKSV's calculator and you will easily come to know all other charges . They have integrated really good calculator on their website for all segments. :thumb:

 

[RKSV]

Re: RKSV - Unlimited Online Trading @ 1947/-

but for each lot you trade you have to pay other charges. It's true that you are paying upfront brokerage for RKSV so that they are not going to charge brokerage for trades you do daily. (i'll ask them how much the other charges will be for each lot i Buy&Sell).

Hi strongBuddy,

You can see the other related charges on our online P&L calculator. Here's an example of statutory charges on buying and selling one lot of stock/index options: http://goo.gl/5SiEE

 

[tomjerry]

Hi RKSV,

I have one question, please confirm with NSE and reply!

During Market Pre-Open session if Nifty reaches its circuit filter limit (may be 10% or 20%) then trading will be halted for that entire day in cash segment (just like trading halted in May-2004 and May-2009), so what will happen for Future & Option segment? Will F&O market open or not, if yes then for how much time?

 

[RKSV]

Hi RKSV,

I have one question, please confirm with NSE and reply!

During Market Pre-Open session if Nifty reaches its circuit filter limit (may be 10% or 20%) then trading will be halted for that entire day in cash segment (just like trading halted in May-2004 and May-2009), so what will happen for Future & Option segment? Will F&O market open or not, if yes then for how much time?

Hi tomjerry,

Took us a while to figure this one out, but here are two circulars on the matter:

http://www.nse-india.com/live_market/dynaContent/live_watch/pre_open_market/PreOpen-October2010.pdf - On the second to last slide, it says if the Nifty open index value, determined at the end of the Pre-open session, breaches the thresholds, then trading halts as per the SEBI rules come into effect.

SEBI rule on trading halt: http://www.sebi.gov.in/boardmeetings/128/policycircuit.pdf
To quote it on the end of page 1: "The index based market wide circuit breaker system brings coordinated trading halt in all equity and equity derivative markets nationwide." So yes, it shuts down equity and equity derivative segments depending on how much the index moved by.

 

[ewmin555]

Hi RSKV,
I am interested to open a account with you, before that i need some clarifications on trading Platform. As i am a full time trader, i need good charting facility. As you are using NOW platform, i believe that updates will be quick. but what about charting tools?, There is only OHLC charts available in NOW. Do you having any plugins like Nest for better charting tools ?

 

[strongBuddy]

Re: RKSV - Unlimited Online Trading @ 1947/-

Hi strongBuddy,

You can see the other related charges on our online P&L calculator. Here's an example of statutory charges on buying and selling one lot of stock/index options: http://goo.gl/5SiEE

In the calculator after selecting options from the drop down menu, under Qty i entered 50, buy price i entered 50, and under sell price i entered 51. Under PnL it shows 45.40. And to the left of PnL text there is a question mark. Upon hovering over our mouse on the Qn mark a floating menu opens stating that PnL means " Profit & Loss includes all statutory charges". I think it should read," Profit & Loss excluding all statutory charges". I think here the 45.40 is profit which has to be credited to the account and does not include any other unknown statutory charges so that this 45.40 will be pruned further.