Upstox - RKSV - Trade in Rs 20 Max

[RKSV]

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!!!

Hi trade4putuval,

Will update it shortly. To start with, we are not offering margin leverage. Commodities is fairly leveraged to begin with. Our first step is to get traders on to the Commodities platform and familiarize themselves with NEST. Next is to integrate the platform with Securities and commodities. Finally, we will start offering leverage and possibly extra products (such as agri, etc) in the last phase.

 

[trade4putuval]

Hi trade4putuval,

Will update it shortly. To start with, we are not offering margin leverage. Commodities is fairly leveraged to begin with. Our first step is to get traders on to the Commodities platform and familiarize themselves with NEST. Next is to integrate the platform with Securities and commodities. Finally, we will start offering leverage and possibly extra products (such as agri, etc) in the last phase.

Ok, that's fine, but it would be nice to have a file citing the margin limits for trading each commodity. We would want to know how much money will be required in the account to trade a particular commodity in the RKSV terminal.

Requesting you to upload a commodity margin file as early as possible.

 

[RKSV]

Ok, that's fine, but it would be nice to have a file citing the margin limits for trading each commodity. We would want to know how much money will be required in the account to trade a particular commodity in the RKSV terminal.

Requesting you to upload a commodity margin file as early as possible.

Will do so.

 

[Creep]

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.

Hey RKSV,

Firstly, guess this is a good move to invest in your own platform. There are 3 things I wanted to ask, I may not be trading with you guys but I am still your client:

1. I was trying to figure out how much you charge for commodity, I realized that in your calculator for any unlimited plan, you show brokerage as 0. But you don't mention anywhere the monthly fees. Don't you think that this is misleading a person?

2. Your thing was the unlimited plan, now if as I read in this blog it is 2999 for unlimited commodity, hmmm then that would mean your client has to pay 1947+2999+999 for all segments?? almost 7000 + service tax per month as upfront brokerage???

So if I had 1lk in my account which probably most of us have in their accounts, you have to pay almost 7% of this even before making profits???

3. I remember your post earlier on transaction charge for futures trading in equity, your post had said it is not right to charge a higher transaction charge and there was nothing that you had mentioned then about turnover!!!! So how does suddenly turnover come into play for commodities??

Look forward to your answers!!!

 

[DSM]

What is the meaning of this statement : 'to integrate the platform with Securities and commodities'?

I assume the existing customers can add commodity scripts and trade from one screen itself - or does as your statement imply there are different platforms, so two platforms and logins will be required to trade equity & commodities?

 

[RKSV]

Hey RKSV,

Firstly, guess this is a good move to invest in your own platform. There are 3 things I wanted to ask, I may not be trading with you guys but I am still your client:

Sure, of course. We are here to help.

1. I was trying to figure out how much you charge for commodity, I realized that in your calculator for any unlimited plan, you show brokerage as 0. But you don't mention anywhere the monthly fees. Don't you think that this is misleading a person?

The fixed monthly fee is different than brokerage. But I see your point -- every client that signs up with us is aware of the two plans. Even when we get a clients forms, we verify that the client has signed up for the plan he wants and is fully aware of the charges. This verification is done during IPV or by phone.

Actually most of the people who sign up for the unlimited plan know what they are getting into. Our sales officers don't mislead newbie traders into signing up the unlimited plan

2. Your thing was the unlimited plan, now if as I read in this blog it is 2999 for unlimited commodity, hmmm then that would mean your client has to pay 1947+2999+999 for all segments?? almost 7000 + service tax per month as upfront brokerage???

So if I had 1lk in my account which probably most of us have in their accounts, you have to pay almost 7% of this even before making profits???

Sure... many of our clients don't do unlimited trading on all the segments. We offer the pay per order plan for those who don't day trade on every segment.

3. I remember your post earlier on transaction charge for futures trading in equity, your post had said it is not right to charge a higher transaction charge and there was nothing that you had mentioned then about turnover!!!! So how does suddenly turnover come into play for commodities??

Transaction charges involve clearing charges. Those are negotiable based on the services we get from our clearing member. We are only Trading Members and not Trading cum Clearing Members with the exchange.

Look forward to your answers!!!

 

[RKSV]

What is the meaning of this statement : 'to integrate the platform with Securities and commodities'?

I assume the existing customers can add commodity scripts and trade from one screen itself - or does as your statement imply there are different platforms, so two platforms and logins will be required to trade equity & commodities?

Hi DSM,

Yeah sorry for roundabout wording. I meant using Omnesys NEST to trade all segments four segments (CM, F&O, Currency, Commodities). There will be a single login for the platform.

 

[neo1599]

Just looked through the Currency 999 plan.

Please give a complete round-trip(Buy+Sell) cost of trade. Inclusive of every charge(Turnover charge, Clearing charge, etc.)

 

[RKSV]

Just looked through the Currency 999 plan.

Please give a complete round-trip(Buy+Sell) cost of trade. Inclusive of every charge(Turnover charge, Clearing charge, etc.)

All broken down in our calculator. Here's an example: http://rksv.in/calculator.php?t=0&p_0=5&q_0=500&b_0=57.57&s_0=57.5800&

 

[neo1599]

All broken down in our calculator. Here's an example: http://rksv.in/calculator.php?t=0&p_0=5&q_0=500&b_0=57.57&s_0=57.5800&

Just gives Unlimited and Dream Plan options. Is the Currency 999 plan included in Unlimited plan?