Upstox - RKSV - Trade in Rs 20 Max

[Deepika sahney]

hello,
i m unable to find the link to the part 1 of this thread.
anybody can pls provide it ?

 

[timepass]

hello,
i m unable to find the link to the part 1 of this thread.
anybody can pls provide it ?

Here.

http://www.traderji.com/brokers-trading-platforms/65135-rksv-unlimited-online-trading-1947-a.html

 

[RKSV]

We wrote a small piece on the volatility affecting markets this month. Take a look and hopefully it helps the traders out there: http://www.rksv.in/blog/2013/09/commodity-prices-and-volatility/.

 

[Deepika sahney]

Hello RKSV,

I m asking this in all the threads of top discount brokers.
If u have a little bit of time can u go through this thread
http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparision-4.html
A member has dissected and done a complete post mortem of discount brokers,
i would like to have ur view on this.Can u reply ?
Ur company is in the top discount brokers discussion right now?
i would like to have a brokers reply to this type of post mortem?
can u do that ??

 

[RKSV]

Hello RKSV,

I m asking this in all the threads of top discount brokers.
If u have a little bit of time can u go through this thread
http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparision-4.html
A member has dissected and done a complete post mortem of discount brokers,
i would like to have ur view on this.Can u reply ?
Ur company is in the top discount brokers discussion right now?
i would like to have a brokers reply to this type of post mortem?
can u do that ??

Hi Deepika,

I thought post mortem is done when someone dies? We are still alive!

Hah, jokes aside, not sure which part you want us to comment on. Any particular thing you want us to answer? Will try to do it to the best of our knowledge.

 

[Deepika sahney]

Hi Deepika,

I thought post mortem is done when someone dies? We are still alive!

Hah, jokes aside, not sure which part you want us to comment on. Any particular thing you want us to answer? Will try to do it to the best of our knowledge.

hi,

Whatever is going these days in our country things i guess post mortem of alive is not an understatement.
And a retail client first of all is concerned about his money only and other things afterwards,all the rules written on websites like sebi and all are not easy to understand .If u have read that person's reply in that thread u would have understood what i wanted to know ? Really disappointed by ur reply

 

[RKSV]

hi,

Whatever is going these days in our country things i guess post mortem of alive is not an understatement.
And a retail client first of all is concerned about his money only and other things afterwards,all the rules written on websites like sebi and all are not easy to understand .If u have read that person's reply in that thread u would have understood what i wanted to know ? Really disappointed by ur reply

Hi Deepika,

Didn't mean to disappoint you. Just read through some of the topics. I assume you want to know about the financing and funding of discount brokerages.

It is correct that any discount broker starting out will have to take on losses to acquire clients. They need to have cash on hand to fund the business. Anyone coming in and trying to undercut the existing players will generally take longer to breakeven. This is unless they have found a significant advantage to exploit on the cost end.

On brokers running away with your money -- there are over 800 brokers registered in this country so I cannot speak for each and every one of them. Some of them may be unscrupulous and there should always be a level of common sense applied when engaging in financial transactions in India. That being said, when a broker defaults, your money cannot be used by us to fund our losses, and we cannot just "run away" with it. NSEL was functioning in a place where there were little or no regulations. This is unlike FMC and SEBI which have strict regulations in place.

The most common ways of "brokers running with your money" is by way of hidden fees, and trading on your behalf when you gave them verbal confirmation on the phone to do so. Such cases take up a ton of time from the regulatory agencies when it could have easily been prevented if the customer took necessary precautions before signing up with the broker or authorizing him to do so. This is one of the reasons why it takes a while to get litigation done by the authorities. It's expensive for both the broker and the client.

As for us, we have well over 500 active clients trading with us. Can't say much in the forum but we have been getting attention in the papers and media lately and foresee it growing the future. The fact that we've been able to grow even though India's been a crappy market for trading in the past few years is a great thing. Equity volumes have been shrinking yet it hasn't affected us.

 

[DataRam]

Hi Deepika,

Didn't mean to disappoint you. Just read through some of the topics. I assume you want to know about the financing and funding of discount brokerages.

It is correct that any discount broker starting out will have to take on losses to acquire clients. They need to have cash on hand to fund the business. Anyone coming in and trying to undercut the existing players will generally take longer to breakeven. This is unless they have found a significant advantage to exploit on the cost end.

On brokers running away with your money -- there are over 800 brokers registered in this country so I cannot speak for each and every one of them. Some of them may be unscrupulous and there should always be a level of common sense applied when engaging in financial transactions in India. That being said, when a broker defaults, your money cannot be used by us to fund our losses, and we cannot just "run away" with it. NSEL was functioning in a place where there were little or no regulations. This is unlike FMC and SEBI which have strict regulations in place.

The most common ways of "brokers running with your money" is by way of hidden fees, and trading on your behalf when you gave them verbal confirmation on the phone to do so. Such cases take up a ton of time from the regulatory agencies when it could have easily been prevented if the customer took necessary precautions before signing up with the broker or authorizing him to do so. This is one of the reasons why it takes a while to get litigation done by the authorities. It's expensive for both the broker and the client.

As for us, we have well over 500 active clients trading with us. Can't say much in the forum but we have been getting attention in the papers and media lately and foresee it growing the future. The fact that we've been able to grow even though India's been a crappy market for trading in the past few years is a great thing. Equity volumes have been shrinking yet it hasn't affected us.

Nice post to ponder.

 

[megapixel]

Hi Deepika,
That being said, when a broker defaults,

How to check this ?

I have heard NSE publishes broker settlement and reputation status online....is it true ? any link ?

Does exchange give grace period to defaulted brokers ?

In case of Broker defaults , how to apply for investor protection fund ?

 

[love2trading]

Hi rksv,

in your nest trader:-

"limit"
"market"
"sl"
"sl-m"

these four types of order available. And when is square off time in your nest trader...!!!

Pls reply

thanks