Upstox - RKSV - Trade in Rs 20 Max

[project2in]

4) No minimum balance to start trading. Two brokerage plans - Dream Plan @ Rs. 25 per order traded or 1 paisa brokerage (whichever is lower). Freedom Plan @ Rs. 2,999 a month - unlimited trading, zero brokerage. Full refund if you don't trade. Same rules as the existing Freedom and Dream Plans.

We have put up our first version of the calculator here: http://rksv.in/calculator.php. Can give you an idea of the charges.

Good to see RKSV in Commodities too. After doing some calculations using thier Calculator, this is what I found ......
. They are charging Rs.400 per crore as Transaction Charges
. Taxes Extra
. Rs.200 per crore as Stamp Duty
. In addition to above, Brokerage charges depending on the plan we choose.

Prakash.

 

[soft_trader]

Good to see RKSV in Commodities too. After doing some calculations using thier Calculator, this is what I found ......
. They are charging Rs.400 per crore as Transaction Charges
. Taxes Extra
. Rs.200 per crore as Stamp Duty
. In addition to above, Brokerage charges depending on the plan we choose.

Prakash.

Rs. 400/- per crore as txn charges and Rs. 200/- per crore stamp duty. This is the costliest broker I have ever seen. Now CTT is coming over that. This is a hell lot of charges.

 

[project2in]

Rs. 400/- per crore as txn charges and Rs. 200/- per crore stamp duty. This is the costliest broker I have ever seen. Now CTT is coming over that. This is a hell lot of charges.

Yeah. I don't see much difference when compared only Transaction Charges of other Brokers .... Zerodha 440, Achiievers 500, RK Global 450, VPS 300, etc .., etc ..,.

But the Stamp Duty part, 200 Per crore, is Very high I felt.

Prakash.

 

[project2in]

Rs. 400/- per crore as txn charges and Rs. 200/- per crore stamp duty. This is the costliest broker I have ever seen. Now CTT is coming over that. This is a hell lot of charges.

Even RKSV is only a TM like VPS, Achiievers & Zerodha and they are affiliated with ISSL for clearing.

It is also clearly mentioned in the 7th page of the Account Opening Form that """Physical delivery of commodities will not be allowed & Agri commodities are disabled from trading""".

Prakash.

 

[traderite]

Rs. 400/- per crore as txn charges and Rs. 200/- per crore stamp duty. This is the costliest broker I have ever seen. Now CTT is coming over that. This is a hell lot of charges.

This is indeed a kind of hurdle. I suppose RKSV are spending too much on Advertising through Google Ads . I can see their ads floating all around the web. This is why they are not paying any attention to bring the costs down for the customers. How will a new customer be impressed enough to join RKSV when he doesn't know about the quality of service from any of the discount brokers [due to not being a client of anyone of them] ? Cost comparison will play a big role. I think RKSV are in no hurry to increase their market share in terms of number of clients as maybe their existing clients are the ones who are with deep pockets.

How a new person can think of ignoring Rs. 10 - Rs. 20 per lot of discount brokers and going to pay Rs. 25 per lot to RKSV when most of the other things seem to be equal . I wanted to join RKSV but am in a big dilemma.

 

[soft_trader]

Yeah. I don't see much difference when compared only Transaction Charges of other Brokers .... Zerodha 440, Achiievers 500, RK Global 450, VPS 300, etc .., etc ..,.

But the Stamp Duty part, 200 Per crore, is Very high I felt.

Prakash.

For commodities:

Zerodha 440 + max 50 SD (stamp duty)
Achiievers 500 + I don't know whether extra stamp duty is there or not.
RKG 450 + no extra SD
VPS 300 + 100 SD

I am very much disappointed by both the plan of RKSV and txn charges. Why would anyone be interested in RKSV dream/freedom plan when there are much better broker available with much lower brokerage and txn costs.

I can't get the point that why would anyone get interested in RKSV when they don't have any edge over other brokers. They has the same platform, NEST and the charges are higher. Also they will not permit to trade in agri commodities like cardamom etc etc.

 

[RKSV]

For commodities:

Zerodha 440 + max 50 SD (stamp duty)
Achiievers 500 + I don't know whether extra stamp duty is there or not.
RKG 450 + no extra SD
VPS 300 + 100 SD

I am very much disappointed by both the plan of RKSV and txn charges. Why would anyone be interested in RKSV dream/freedom plan when there are much better broker available with much lower brokerage and txn costs.

I can't get the point that why would anyone get interested in RKSV when they don't have any edge over other brokers. They has the same platform, NEST and the charges are higher. Also they will not permit to trade in agri commodities like cardamom etc etc.

Hi all,

Sorry for the confusion. SD is actually Rs. 100 per crore, we will fix the calculator shortly.

Regarding the txn costs, we have just started commodities so it starts at Rs. 400. As we add turnover, there may be room for us to lower it as we have done so for other segments.

 

[trade4putuval]

Hi,

I guess Rs 25 per order is for people who trade very less during the month. If you are a frequent trader and trades 2 to 3 trades per day, I do not recommend using the Dream plan. In that case, 2999 is the best option. So for a frequent/regular trader trading multiple lots, the Freedom plan is definitely the best option and better than other brokerages.

But my query is on the stamp duty. I guess stamp duty goes to the government. So I am of the understanding that this has to be the same across the brokerages. I would like to know why we have different stamp duty for different brokerages. Maybe the understanding of stamp duty will throw more light on the brokerage comparison. A link of your previous explanation will also help.

RKSV, please reply.

 

[RKSV]

Hi,

I guess Rs 25 per order is for people who trade very less during the month. If you are a frequent trader and trades 2 to 3 trades per day, I do not recommend using the Dream plan. In that case, 2999 is the best option. So for a frequent/regular trader trading multiple lots, the Freedom plan is definitely the best option and better than other brokerages.

But my query is on the stamp duty. I guess stamp duty goes to the government. So I am of the understanding that this has to be the same across the brokerages. I would like to know why we have different stamp duty for different brokerages. Maybe the understanding of stamp duty will throw more light on the brokerage comparison. A link of your previous explanation will also help.

RKSV, please reply.

Stamp duty does to the government... to the state government. Since we are in MH, we are charging MH Stamp Duty which differs from other state's stamp duty. That's where the difference lies. Every MH broker should charge the same stamp duty -- no difference should be there. We sincerely apologize for the confusion created earlier.

 

[trade4putuval]

I could not see the margin requirements of commodities in the download section. When are you planning to update this? We would need to know this information too, whether we have a different margin for intraday or delivery!!!