Upstox - RKSV - Trade in Rs 20 Max

[Jai Mata Di]

Why are you charging so high brokerage for MCX? 2999!!!
In MCX there is only one type trading in Futures, no delivery & option trading.

You are charging only 1947 for Freedom Plan, which includes DELIVARY, FUTURE, OPTIONS ALL. Also transaction charge is lowest there.

Your new offer for MCX is kind of a shock for many of your old clients from NSE, who waited long for MCX launching.

Are you thinking MCX traders are earning much higher comparing to equity?

Volatility is increasing in USDINR day by day, making holding overnight position more tough. There is already no option facility for hedging.
Govt is imposing CTT. You are charging extra Rs 12600 + /year.
What is happening in India?

 

[DSM]

Quite agree with the post. Commodity freedom plan charges are on the higher side. If F&O freedom plan is 1,947, it is difficult to understand 50% higher charge for commodity.

The way I see it, brokerage charges need to be reduced to attract more traders to the freedom plan. RKSV, what are your views on this.?

Why are you charging so high brokerage for MCX? 2999!!!
In MCX there is only one type trading in Futures, no delivery & option trading.

You are charging only 1947 for Freedom Plan, which includes DELIVARY, FUTURE, OPTIONS ALL. Also transaction charge is lowest there.

Your new offer for MCX is kind of a shock for many of your old clients from NSE, who waited long for MCX launching.

Are you thinking MCX traders are earning much higher comparing to equity?

Volatility is increasing in USDINR day by day, making holding overnight position more tough. There is already no option facility for hedging.
Govt is imposing CTT. You are charging extra Rs 12600 + /year.
What is happening in India?

 

[RKSV]

Quite agree with the post. Commodity freedom plan charges are on the higher side. If F&O freedom plan is 1,947, it is difficult to understand 50% higher charge for commodity.

The way I see it, brokerage charges need to be reduced to attract more traders to the freedom plan. RKSV, what are your views on this.?

Hey guys,

Yeah we're looking to stay affordable for our clients and customers. We're going to add some trading tools that will be unique to only RKSV in the coming future.

Regarding, pricing -- will tell our product/pricing team to take a look at the freedom plan pricing and see if anything needs to be done. Generally, reducing price by a few rupees just to compete with other players is not something we do -- we'd rather spend that on service and support. However, if it does seem to make a big difference then we'll definitely take a look.

Thanks for your suggestions -- keep them coming.

 

[saakk]

Hey guys,

Yeah we're looking to stay affordable for our clients and customers. We're going to add some trading tools that will be unique to only RKSV in the coming future.

Regarding, pricing -- will tell our product/pricing team to take a look at the freedom plan pricing and see if anything needs to be done. Generally, reducing price by a few rupees just to compete with other players is not something we do -- we'd rather spend that on service and support. However, if it does seem to make a big difference then we'll definitely take a look.

Thanks for your suggestions -- keep them coming.

Hey RKSV,
I agree wit you guys, It is the service which is most important even if it cost little extra then others. Even if others are charging less and not providing service no way i am going to trade with them, as a scalper i need good service even if it comes at little extra cost. The only question remains is how long RKSV maintains it.

 

[DSM]

Thanks, here's more feedback :

1. You need to look to integrate platforms quicker. Presently there are two platforms for commodity & F&O and one has to toggle between the two.

2. Most traders use charting platform, and what's provided by RKSV in terms of charting facility is Zero. C'mon guys, if you need to stand out besides discount brokerage and service, you require a good product as well. That's what's missing now.

3. Large disparity in pricing of freedom plan for commodity and F&O. Rational? You need the numbers, but if you price your plans high, who will join? Its classic egg and chicken story.

4. Reliance is coming out with their trading platform, which will be sooner rather than later - This will blow away competition if considered in terms of pricing alone if you look at their marketing strategy in telecom, and broadband (which is expected to roll out in the near future). Are you guys prepared for this? How far ahead are you looking. If it is the near future, you will only remain one of the also ran....

My 2c. (Approx 1 Rupee 20 paise considering today's exchange rate)



Cheers.

Hey guys,

Yeah we're looking to stay affordable for our clients and customers. We're going to add some trading tools that will be unique to only RKSV in the coming future.

Regarding, pricing -- will tell our product/pricing team to take a look at the freedom plan pricing and see if anything needs to be done. Generally, reducing price by a few rupees just to compete with other players is not something we do -- we'd rather spend that on service and support. However, if it does seem to make a big difference then we'll definitely take a look.

Thanks for your suggestions -- keep them coming.

 

[RKSV]

Hey DSM,

Sorry for the delay in replying. Let me address your queries.

Thanks, here's more feedback :

1. You need to look to integrate platforms quicker. Presently there are two platforms for commodity & F&O and one has to toggle between the two.

Yes, our first priority is switching people over to NEST. We are in the process of ensuring that market orders work properly on NEST from day one. We have (as the first ones) requested Omnesys to release a version of NEST with protected market orders for buying options. This is a unique feature wherein a price protection band is applied to prevent margin shortage errors during option buying.

2. Most traders use charting platform, and what's provided by RKSV in terms of charting facility is Zero. C'mon guys, if you need to stand out besides discount brokerage and service, you require a good product as well. That's what's missing now.

Since day one of starting retail brokerage, our founders have had the commitment of bringing great software. They've traded in the US and European markets before and have seen / traded on world class software. NEST is not the end of the road for us -- we have been working on new software platforms.

3. Large disparity in pricing of freedom plan for commodity and F&O. Rational? You need the numbers, but if you price your plans high, who will join? Its classic egg and chicken story.

Yep, going to look into it and let our pricing team know.

4. Reliance is coming out with their trading platform, which will be sooner rather than later - This will blow away competition if considered in terms of pricing alone if you look at their marketing strategy in telecom, and broadband (which is expected to roll out in the near future). Are you guys prepared for this? How far ahead are you looking. If it is the near future, you will only remain one of the also ran....

:thumb:

Broking has been an area where innovation has been stagnant. Maybe it's because a few players at the top have good market share and continually use the same business practices to earn money (sell tips, use RMs to generate brokerage). Finally, we will see some innovation coming in terms of platform. RKSV will welcome it because we are prepared to offer tools/platforms on our own

My 2c. (Approx 1 Rupee 20 paise considering today's exchange rate)

Let's hope it's approx 1 rupee by the end of the year!

Cheers.

Thanks

 

[DSM]

Thanks RKSV for the response. Was not aware that you had replied... actually came to the thread to ask when the market order would be enabled, and saw your post - and your first point addresses the issue.

Looking fw. to see all the promises fulfilled!

Hey DSM,

Sorry for the delay in replying. Let me address your queries.



Yes, our first priority is switching people over to NEST. We are in the process of ensuring that market orders work properly on NEST from day one. We have (as the first ones) requested Omnesys to release a version of NEST with protected market orders for buying options. This is a unique feature wherein a price protection band is applied to prevent margin shortage errors during option buying.



Since day one of starting retail brokerage, our founders have had the commitment of bringing great software. They've traded in the US and European markets before and have seen / traded on world class software. NEST is not the end of the road for us -- we have been working on new software platforms.



Yep, going to look into it and let our pricing team know.


:thumb:

Broking has been an area where innovation has been stagnant. Maybe it's because a few players at the top have good market share and continually use the same business practices to earn money (sell tips, use RMs to generate brokerage). Finally, we will see some innovation coming in terms of platform. RKSV will welcome it because we are prepared to offer tools/platforms on our own



Let's hope it's approx 1 rupee by the end of the year!



Thanks

 

[RKSV]

Thanks RKSV for the response. Was not aware that you had replied... actually came to the thread to ask when the market order would be enabled, and saw your post - and your first point addresses the issue.

Looking fw. to see all the promises fulfilled!

All... we have heard what you have said. Few changes to mark our nation's independence day.

1) MCX Freedom Plan dropped to 1947/month. Pricing will automatically switch from 2999 to 1947 starting Sep 1.
2) MCX margins have been increased to 2X as of today.
3) NEST software migration will start soon to include market orders and direct bank transfer to over 25 banks.
4) You will also get BSE Cash segment for no charge (presently it's an additional Rs. 150/mo charge on NSE NOW).

More stuff coming soon next month

 

[augubhai]

All... we have heard what you have said. Few changes to mark our nation's independence day.

1) MCX Freedom Plan dropped to 1947/month. Pricing will automatically switch from 2999 to 1947 starting Sep 1.
2) MCX margins have been increased to 2X as of today.
3) NEST software migration will start soon to include market orders and direct bank transfer to over 25 banks.
4) You will also get BSE Cash segment for no charge (presently it's an additional Rs. 150/mo charge on NSE NOW).

More stuff coming soon next month

Thanks
:clap::clap::clap:

 

[DSM]

Great to know!!

All... we have heard what you have said. Few changes to mark our nation's independence day.

1) MCX Freedom Plan dropped to 1947/month. Pricing will automatically switch from 2999 to 1947 starting Sep 1.
2) MCX margins have been increased to 2X as of today.
3) NEST software migration will start soon to include market orders and direct bank transfer to over 25 banks.
4) You will also get BSE Cash segment for no charge (presently it's an additional Rs. 150/mo charge on NSE NOW).

More stuff coming soon next month