VPS Share - Good broker... Better plans... Best pricing...

[VPS SHARE]

Dear VPS,
Is it possible to consider intraday square off timing for 'MIS' position for Equity F&O atleast 3:20 PM onward like most other brokers instead of 3:10 PM in VPS?

Your Exposure margin for Bank Nifty is 10% !!! :lol: abnormally high comparing to other brokers. You can make up this partially with increasing Auto square off timing by 3:25 PM while others giving us 3:20. But square off time in VPS is 3:10 another 10 min less.

It is not fair that, margin is high and auto square off timing is 10 min less.
Your brokerage structure is interesting. At least give us a chance to trade in intraday if not positional in Bank Nifty. :rofl:
Please consider Auto square off timing for Bank Nifty 3:20 PM if not 3:25 PM.

Don't be so afraid, most of traders like us have less than 2 lakh in their trading a/c, hence low risk traders. 50,000 margin money for trading Bank Nifty is too much for them.

Thanks in advance.

Hi,

Auto square off for F&O will be at 3.20 PM today onwards.

Happy Trading Sir

 

[project2in]

Stamp Duty in Calculator

Hello VPS,
I would like to make a suggestion regarding the Brokerage Calculator in your website.

It is mentioned beside the calculator separately that the Stamp Duty is charged at Rs.100 Per crore. Because of this, we are forced to make another calculation separately on a paper and further add that figure to the amount we get in the calculator.

I think it will be easier for the clients if you can add this directly in the calculator. Since it is a fixed figure, I don't think it will be a problem. For better understanding, I attached an image of RKSV calculator. I hope that will not be Offensive.

Kindly do the needful.

Regards,
Prakash.

 

[Jai Mata Di]

Hi,

Auto square off for F&O will be at 3.20 PM today onwards.

Happy Trading Sir

Thank you very much VPS.

 

[traderite]

Re: Stamp Duty in Calculator

Hello VPS,
I would like to make a suggestion regarding the Brokerage Calculator in your website.

It is mentioned beside the calculator separately that the Stamp Duty is charged at Rs.100 Per crore. Because of this, we are forced to make another calculation separately on a paper and further add that figure to the amount we get in the calculator.

I think it will be easier for the clients if you can add this directly in the calculator. Since it is a fixed figure, I don't think it will be a problem. For better understanding, I attached an image of RKSV calculator. I hope that will not be Offensive.

Kindly do the needful.

Regards,
Prakash.

This is a good suggestion. I agree with this fully. Will make lot of sense in using the calculator with full potential.

 

[traderite]

Dear VPS,
Is it possible to consider intraday square off timing for 'MIS' position for Equity F&O atleast 3:20 PM onward like most other brokers instead of 3:10 PM in VPS?

Your Exposure margin for Bank Nifty is 10% !!! :lol: abnormally high comparing to other brokers. You can make up this partially with increasing Auto square off timing by 3:25 PM while others giving us 3:20. But square off time in VPS is 3:10 another 10 min less.

It is not fair that, margin is high and auto square off timing is 10 min less.
Your brokerage structure is interesting. At least give us a chance to trade in intraday if not positional in Bank Nifty. :rofl:
Please consider Auto square off timing for Bank Nifty 3:20 PM if not 3:25 PM.

Don't be so afraid, most of traders like us have less than 2 lakh in their trading a/c, hence low risk traders. 50,000 margin money for trading Bank Nifty is too much for them.

Thanks in advance.

As per the margin file posted on the VPS Share website the Intraday margin requirement is 40% of the total margin and not 10% .

 

[VPS SHARE]

Suggestion on Brokerage Calculator

Point taken Sir, we will get the stamp duty included in brokerage calculator. It was not done initially as we were considering implementing state wise stamp duty charges and that being variable, hence brokerage was not included in our calculator. But since we have fixed stamp duty charges of Rs 100/cr, we will get it included in Brokerage calculator.

Happy Trading

 

[Jai Mata Di]

As per the margin file posted on the VPS Share website the Intraday margin requirement is 40% of the total margin and not 10% .

Hi, traderite,
I was not talking about Intraday margin. It was taking about exposure margin, which is 10% in vps very high comparing to other broker . See my previous post & link of 5 paisa margin file to understand what I was saying.

I know that, Intraday margin requirement is 40% of the total margin.

More clearly for Bank Nifty, total margin with VPS is 7.32% Span + 10% exposure, TOTAL = 17.32% of total Contract Value.
As they said, actually VPS is not charging any thing extra in SPAN calculated by NSE everyday. Exposure margin differs from from Broker to Broker. For VPS it is too much 10% which makes total margin requirement almost double than others weather is Overnight or Intraday.
For example brokers like 5 paisa or zerodha charging only 3% as exposure margin. And they give a further reduction of 2% in NSE span (Span is 5% there) so total overnight margin requirement is 8% of total Contract Value. Which is less than half of VPS.
Even if VPS don't give us additional 2% on NSE Span. If they reduce exposure from 10% to 3% then total overnight margin would be only 10% of Total Contract Value instead of Current 17.32%.
Because of this 10% exposure margin (not Nse Span margin) total(overnight) margin requirement for Bank Nifty is about 50,000 (17.2%). So intraday margin is about 20,000 (40%). Where as with other brokers total margin requirement for Bank Nifty is about 24,000(8%). So intraday margin is less than 10,000.

I have noticed that their margin for some big volatile stocks future is only 5% where the risk is surely higher than Bank Nifty Index.
Mathematically 10% exposure for Bank Nifty is not possible as 60% of Bank Nifty index weightage is created by 3 major stocks SBI, HDFC & ICICI Banks. It'll add up to weightage of almost 80% if we add AXIS & KOTAK Banks. All of above stocks have only 5% exposure margin with VPS. :lol:

Anyway I am glad that VPS increases square off time to 3:20 PM instantly. That means they are competitive. May be they try to reduce exposure margin for Bank Nifty later.

A long post, because I am hopeful of a positive outcome, sooner or later.

 

[soft_trader]

Hi, traderite,
I was not talking about Intraday margin. It was taking about exposure margin, which is 10% in vps very high comparing to other broker . See my previous post & link of 5 paisa margin file to understand what I was saying.

I know that, Intraday margin requirement is 40% of the total margin.

More clearly for Bank Nifty, total margin with VPS is 7.32% Span + 10% exposure, TOTAL = 17.32% of total Contract Value.
As they said, actually VPS is not charging any thing extra in SPAN calculated by NSE everyday. Exposure margin differs from from Broker to Broker. For VPS it is too much 10% which makes total margin requirement almost double than others weather is Overnight or Intraday.
For example brokers like 5 paisa or zerodha charging only 3% as exposure margin. And they give a further reduction of 2% in NSE span (Span is 5% there) so total overnight margin requirement is 8% of total Contract Value. Which is less than half of VPS.
Even if VPS don't give us additional 2% on NSE Span. If they reduce exposure from 10% to 3% then total overnight margin would be only 10% of Total Contract Value instead of Current 17.32%.
Because of this 10% exposure margin (not Nse Span margin) total(overnight) margin requirement for Bank Nifty is about 50,000 (17.2%). So intraday margin is about 20,000 (40%). Where as with other brokers total margin requirement for Bank Nifty is about 24,000(8%). So intraday margin is less than 10,000.

I have noticed that their margin for some big volatile stocks future is only 5% where the risk is surely higher than Bank Nifty Index.
Mathematically 10% exposure for Bank Nifty is not possible as 60% of Bank Nifty index weightage is created by 3 major stocks SBI, HDFC & ICICI Banks. It'll add up to weightage of almost 80% if we add AXIS & KOTAK Banks. All of above stocks have only 5% exposure margin with VPS. :lol:

Anyway I am glad that VPS increases square off time to 3:20 PM instantly. That means they are competitive. May be they try to reduce exposure margin for Bank Nifty later.

A long post, because I am hopeful of a positive outcome, sooner or later.

I don't know what you are talking about, but I have carried some overnight positions in BNF and margin (SPAN + Expo) requirement for me was a around 28800 per lot.

 

[Jai Mata Di]

I don't know what you are talking about, but I have carried some overnight positions in BNF and margin (SPAN + Expo) requirement for me was a around 28800 per lot.

@SOFTY
I don't know what you are talking about! :lol:

My friend have a/c with them. I saw the margin requirement for 25-Jul-13 contract in VPS from their BACK OFFICE in my own Eyes. :annoyed:
The Margin Details for all F&O Stock & Index for VPS SHARE COMPANY PRIVATE LIMITED is saved in a excel after copied from their Back Office.
There is absolute no chance of any error.
Below is the details of Bank Nifty taken from their BACK OFFICE AFTER LOG IN.

Overnight Margin Requirement for 25-Jul-13 Contract.
Symbol: BANKNIFTY
Lot Size: 25
Price : 11617.25
Contract Value: 290431.25
Span: 21269.5
Exposure: 29043.12
Total Margin: 50312.62
Span %: 7.32
Exposure %: 10
Total %: 17.32

--------------
VPS PLEASE CLARIFY: If I am wrong.
FOR BANK NIFTY TOTAL MARGIN(SPAN + Expo)%: 17.32% for
overnight positions is true or not? Data taken from your Back Office only.

 

[Creep]

@SOFTY
I don't know what you are talking about! :lol:

My friend have a/c with them. I saw the margin requirement for 25-Jul-13 contract in VPS from their BACK OFFICE in my own Eyes. :annoyed:
The Margin Details for all F&O Stock & Index for VPS SHARE COMPANY PRIVATE LIMITED is saved in a excel after copied from their Back Office.
There is absolute no chance of any error.
Below is the details of Bank Nifty taken from their BACK OFFICE AFTER LOG IN.

Overnight Margin Requirement for 25-Jul-13 Contract.
Symbol: BANKNIFTY
Lot Size: 25
Price : 11617.25
Contract Value: 290431.25
Span: 21269.5
Exposure: 29043.12
Total Margin: 50312.62
Span %: 7.32
Exposure %: 10
Total %: 17.32

--------------
VPS PLEASE CLARIFY: If I am wrong.
FOR BANK NIFTY TOTAL MARGIN(SPAN + Expo)%: 17.32% for
overnight positions is true or not? Data taken from your Back Office only.

They are charging more margin then... I have an account with edelweiss who give the benefit of T+0 settlement from NSE, so should be the lowest margin..

Bank nifty is just 8% including SPAN + exposure, so around 24000 per lot.

I don't know if any discount brokers are offering at T+0 benefit. But 50000 is definitely a con...