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

[Qreous]

1. I don't think VPS has membership of MCX-SX. You need to do trading in NSE CDS segment for currency. There is an ample amount of liquidity in NSE CDS also.

Intraday Margin is 2x in CDS, full margin required for overnight positions.

2. The max cap for currency is 799 per month in the Value Plan. And for MCX commodity it is Rs. 2000/- max cap in the value plan. So you will have a max cap of 2799/- NSE CDS + MCX

If you choose smart plan then both CDS & MCX combined together will have a max cap of Rs. 2000/-
So, If you intend to Trade on CDS & MCX together smart plan will suit you better.

You can't trade using the same margin in both CDS and MCX as it is governed by separate regulators. FMC for Commodity and SEBI + RBI for CDS. Earlier before April 2012 it was permissible to use the same margin to trade in both the segments. So you need to maintain separate funds for commodities and Equity/FNO/CDS. Please note that you can use the same funds for CDS, Cash & FNO.

Hi Softy...

I think they should introduce a new plan (named Gold plan) as you mentioned (Bold part.....)

Qreous.

 

[traderite]

Hi Softy...

I think they should introduce a new plan (named Gold plan) as you mentioned (Bold part.....)

Qreous.

I too agree that there is scope for one more plan which can really be a game changer.

I always try to figure out that whats the missing part in the allocation of plans.

 

[VPS SHARE]

Hi VPS SHARE,
I trade on crude oil. If i invest rs 100,000/- and give stop loss and target both then how much crude i can buy or sell.

Soumen Bag

Dear Sir,

We provide 50% margin for trading intraday in MCX. For crude margin is approx. 33k so you would be able to do 6 crude and place a SL order for them.

Facility of placing SL and EXIT order for a position is only available in F&O segment of NSE and not in commodity. So you may buy 3 crude and place SL and place exit order in the margin you have mentioned.

best wishes

 

[VPS SHARE]

Hi Softy...

I think they should introduce a new plan (named Gold plan) as you mentioned (Bold part.....)

Qreous.

Hi,

Tx for the suggestion.

Yes we do not have MCX and Currency combo plan so far. Reason being that during our interaction we found traders trading in Equity and Currency or Equity and Commodity and there were very few who enquired or suggested MCX and Currency. Hence, we decided only on two combo plans. Our Smart Plan being very popular among traders and it delivers a very good value proposition for them.

We welcome more views on this.

best wishes,

Team VPS

 

[soft_trader]

1. I don't think VPS has membership of MCX-SX. You need to do trading in NSE CDS segment for currency. There is an ample amount of liquidity in NSE CDS also.

Intraday Margin is 2x in CDS, full margin required for overnight positions.

2. The max cap for currency is 799 per month in the Value Plan. And for MCX commodity it is Rs. 2000/- max cap in the value plan. So you will have a max cap of 2799/- NSE CDS + MCX

If you choose smart plan then both CDS & MCX combined together will have a max cap of Rs. 2000/-
So, If you intend to Trade on CDS & MCX together smart plan will suit you better.

You can't trade using the same margin in both CDS and MCX as it is governed by separate regulators. FMC for Commodity and SEBI + RBI for CDS. Earlier before April 2012 it was permissible to use the same margin to trade in both the segments. So you need to maintain separate funds for commodities and Equity/FNO/CDS. Please note that you can use the same funds for CDS, Cash & FNO.

Sorry my mistake. Smart plan is Equity + CDS. And qreous rightly pointed out that there is a room for another plan i.e. CDS + MCX. The more the options for traders the better.

 

[soft_trader]

VPS,

I noticed one problem in your RMS. I had some positions overnight of SBI 1750CE, now today market opened with a gap down so I shifted down my positions to 1700CE. After doing so I was thinking of adding another lot. But I was not sure whether the margin I have would be sufficient for doing it. Any way I placed the order for 1 lot of SBI 1700CE and the margin it blocked after placing the order was around 10K, and as soon as the order got executed then NSE NOW shows up a message that I have used more than 100% margin. Anyway market came down and that position is safe now.

Now the problem with this type of RMS is that say a trader has 1 lakh in his account and he takes 3lot of Nifty/any future positions or written option contracts. Lets assume that each lot requires a margin of 28K. So after taking 3 lots margin blocked is 84K and he/she still have 16K left in his account. Now the trader again places an order to take position for another 1 lot so at this time of order placement only 10K gets blocked and the order gets placed. But as soon as it gets executed it takes the full 28K margin and the RMS would throw an error message that the trader has crossed 100% margin limit and he/she is in a deficit of 12K. So only option then left with the trader is to fund the trading account or cancel a position or to get ready to face RMS squareoff action.

What I am trying is say is that modify your RMS in such a way that it blocks 100% margin at the time of order placement for NRML positions so that the trader has an estimate of how much margin is required at the time of order placement.

 

[DataRam]

VPS,

I noticed one problem in your RMS. I had some positions overnight of SBI 1750CE, now today market opened with a gap down so I shifted down my positions to 1700CE. After doing so I was thinking of adding another lot. But I was not sure whether the margin I have would be sufficient for doing it. Any way I placed the order for 1 lot of SBI 1700CE and the margin it blocked after placing the order was around 10K, and as soon as the order got executed then NSE NOW shows up a message that I have used more than 100% margin. Anyway market came down and that position is safe now.

Now the problem with this type of RMS is that say a trader has 1 lakh in his account and he takes 3lot of Nifty/any future positions or written option contracts. Lets assume that each lot requires a margin of 28K. So after taking 3 lots margin blocked is 84K and he/she still have 16K left in his account. Now the trader again places an order to take position for another 1 lot so at this time of order placement only 10K gets blocked and the order gets placed. But as soon as it gets executed it takes the full 28K margin and the RMS would throw an error message that the trader has crossed 100% margin limit and he/she is in a deficit of 12K. So only option then left with the trader is to fund the trading account or cancel a position or to get ready to face RMS squareoff action.

What I am trying is say is that modify your RMS in such a way that it blocks 100% margin at the time of order placement for NRML positions so that the trader has an estimate of how much margin is required at the time of order placement.

This is absolutely important to take note of . Softy you are trading with this problem , I must say that you have lot of knowledge so you can handle this situation but a trader who is amateur can get into trouble right away.

Thanks to point this out to VPS and I must second your views that they should look into this matter .

 

[VPS SHARE]

VPS,

I noticed one problem in your RMS. I had some positions overnight of SBI 1750CE, now today market opened with a gap down so I shifted down my positions to 1700CE. After doing so I was thinking of adding another lot. But I was not sure whether the margin I have would be sufficient for doing it. Any way I placed the order for 1 lot of SBI 1700CE and the margin it blocked after placing the order was around 10K, and as soon as the order got executed then NSE NOW shows up a message that I have used more than 100% margin. Anyway market came down and that position is safe now.

Now the problem with this type of RMS is that say a trader has 1 lakh in his account and he takes 3lot of Nifty/any future positions or written option contracts. Lets assume that each lot requires a margin of 28K. So after taking 3 lots margin blocked is 84K and he/she still have 16K left in his account. Now the trader again places an order to take position for another 1 lot so at this time of order placement only 10K gets blocked and the order gets placed. But as soon as it gets executed it takes the full 28K margin and the RMS would throw an error message that the trader has crossed 100% margin limit and he/she is in a deficit of 12K. So only option then left with the trader is to fund the trading account or cancel a position or to get ready to face RMS squareoff action.

What I am trying is say is that modify your RMS in such a way that it blocks 100% margin at the time of order placement for NRML positions so that the trader has an estimate of how much margin is required at the time of order placement.

Hi,

RMS functions on two premise - block margin at order level or block margin at trade level. Traders who were looking for facility to place SL and Exit order without utilizing additional margin were accommodated thru blocking exposure margin at order level, hence order will get thru without having sufficient margin. Since Cover Order has been introduced now for Nifty and Bank Nifty, we will be reverting to blocking full margin at order level.

We had placed a special system to monitor the RMS if some trader was carrying excess position due to this facility. With introduction of Cover Order things will be much simpler.

Cover Order is fully activated, if some one find that this is not activated on his/her Id, just mail us at [email protected] and the facility will be enabled immediately.

happy trading,

Team VPS

 

[VPS SHARE]

This is absolutely important to take note of . Softy you are trading with this problem , I must say that you have lot of knowledge so you can handle this situation but a trader who is amateur can get into trouble right away.

Thanks to point this out to VPS and I must second your views that they should look into this matter .

Hi,

This issue has been resolved and RMS will block full margin on order so that amateur remain safe and mature trader uses Cover Order to use more leverage.

Happy Trading

Team VPS

 

[soft_trader]

Thanks VPS for this quick action, I really appreciate it. Understanding client problems and solving it on priority should be the mantra for running a healthy business, and you people are really doing a good job.

Another good news for all is that I just checked that VPS doesn't have any obligations to NSEL. Enjoy :clap: :clap: