RK Global

Hi All,
I am about to sign up with RK Global. I went through the forums here and 2 things came out.

1. Margin requirement is higher on Nifty futures lot - I checked with their Mumbai office and they claim they are charging margins as per NSE, nothing extra. I need confirmation from RK users on margin as of today/yesterday for Nifty Sep futures. Geojit is charging 26,849.30 for one Nifty lot and 10,727.63 for Mininifty lot
2. Problems with placing orders - disconnections, etc. - I believe some of these problems have been sorted out as per discussions in this forum. Can RK users confirm this? How has your experience been in the current week. I am evaluating both Web as well as ODIN and would like to get feedback from users of both the systems

Lastly if you have traded Nifty futures on RK, what is the effective brokerage charged per lot? I know it is Rs.9 + STT, stamp, taxes. The last part is what I am worried about. I was told it will be Rs. 75 for one round trip (buy + sell).

Thanks in advance
Nitin

If it is of any help, I have been using Geojit for over 2 years. Great service, stable platform, no problems transfering money - in or out. Their EXE client is the best I have seen (better than ODIN & TradeAnywhere). I have tried ICICIDirect, ILFSInvestmart, KotakSecurities before joining Geojit. I trade F&O mostly.

I recently started intraday and brokerage is killing me. They charge Rs. 75 per lot per leg (buy or sell). They have a slab structure wherein your brokerage decreases automatically as volume increases. If you are doing 36 Cr+ volume per month then your effective brokerage will be Rs. 30/- only. Taxes, duties, stt are additional.

If brokerage is not an issue I would highly recommend their platinum platform. They charge Rs. 2000/month for this platform but it is adjustable against your brokerage.

Nitin