Comments need from RKG clients...

Hi!

As I feel that my trading volume gonna be high, I was looking for cheaper brokerage. I gotta heard about RKG and inquired a lot not only with RKG but other brokers as well.

Few things seems to be hard to say ok to RKG, here they are

1. I don't get confirmation via SMS, only through email.
2. They will never send contract note/ledger statement or anything unless or until request for the same and they charge extra for it.
3. I already have accounts with other brokers. Even though i am not active they are sending statements periodically.
4. They say they have tie up with, ICICI but we need to sent a mail or call them that we wired money. It will take at least five minutes to show that amount in our margin.
5. I don't know why they are asking for nominee's signature and photograph. (If not, I can't appoint nominee)

So, you guys please post your comments. And please do comment on your experience(especially bitter experience).

Thank you.

Hi nac,

You will get Contract Notes by E-mail by RKG with a bit delay ,sometimes.

Yes. I agree with columbus. if you have hdfc bank account then it would be better

Yeah, they said that. I will get contract notes in mail. What if someone trade in my account without my authorization or by mistake or wrongly they put some trades on my account when i am not trading (like i am out for vacation)???

This problem is inherent with all brokerage houses.

There is a solution to it. Give wrong password THRICE. Automatically
your account is locked.RKG can Unlock it.

Perhaps, other broker do send sms confirmation.(by then we can cross verify).

As you said we can make the account lock by entering wrong password and RKG can unlock it and trade (is this what u meant?)

Or I heard an option to freeze account for a while (may be some months, even years i guess) What you guys think about this option?

RKG will act upon receiving a e-mail from you ,I hope. (unlocking)
RKG maintains a Trade history in detailed fashion for last 15
days.

dear nac,

in reply to your PM.

At present I hold 4 trading accounts viz, icici direct, geojit, pib and rkg.
i opened these accounts in that order becos, icici brokerage was too much so geojit as i found their brokerage only half of icici, thence pib although slightly more than geojit was very good platform and importantly can club with amibroker, and after opening with pib found that their platforms amibroker only once in five minutes, so was a waste for me.

now with all three brokerages above being an intraday trader using mainly scalping method, I found that my broker makes more than 90 % of all the moeny i earn when i have good days and they still earn substantially even when u are on the losing end. like you are only working for them with your expence.

this led me to look for cheapest brokerages and found that rkg was giving flat rate unlimited quantity for flat monthly payment of Rs 999/-. before opening with them, i searched for opinion and was mixed to negative and mostly disappointing.

but considering the brokerage i thought of going ahead with opening account with them, so first I opened account with HDFC bank ( since i had read that if using other banks, the transfer may be delayed etc), then openend with rkg through their nearest office to me (pollachi - later i found that they have office in my town). took 20 days for opening formalities and their coimbatore office called me one day, teamviewed, setup everything in my computer and got me going.

I must say I am very very happy with this decision, as the situation with the brokerage amounts which I had earlier totally reversed, i.e, now i earn more and every day i have to pay only the taxes on the trades and scalping now became a delight ( earlier i had to wait for price to move above breakeven and now breakeven is so low that even if i have to get out quickly i dont have to think twice).

now the main issue i faced was that the market watch updation freezes at times, so i compared the same with geojit platinum platform (which is modified ODIN) what i found that most of the time the freezing happens in both the platforms together, so i believe it is a common fault originating from the datafeeds to these brokerages).

But rkg odin i found was ligtning fast in order execution compared to others by which i started using an old technique for opening strategy which I used to use earlier and had discarded due to delay in order execution on market open split second).

now about back office , again I had read negative opinions more than positive, but i must say that i am getting excellant and prompt service from their coimbatore office who seems to be the incharge for my account).

another problem with odin is that if your broadband is down you cannot use GPRS from mobile for logging into odin as odin seems to require speedy connection. during such times I can log into through their web based platform using GPRS, I use this only to close any open positions if my broadband is down.

The other day when this happened (broadband down) I coulnt log on to their web platform, tried for few hours but was showing website service unavailable, finally called their coimbatore office and closed my position - in a huge loss as i had no other option)

now beggers cant be choosers - the huge advantage of brokerage is a real positive factor for an intraday trader like me and eclipses any negatives (although the only and major problem i faced until now was that i cudnt log in through their web service the other day as stated above).

regards

^ Thank you vinod. I didn't know they have branch in tamilnadu. I am from chennai. I thought would have branch in chennai. But, when I got a call from them, they said they don't have a branch in chennai but franchisee. I said, ok give me contact no. of your chennai franchisee. Now they are saying, they don't have one in chennai. I thought, their operating stations are only in mumbai, kolkata and delhi. Rather than contacting mumbai or kolkatta I can contact some nearest branch like coimbatore.

Guys, anybody have any comment on this????? And do anyone know is there any other branch of RKG in tamilnadu????

Please hurry.... Based on your reply I would call and ask them to send the application or I can download and take the printout of the same.
I really feel to have account with nearest branch rather than having account somewhere distant eventhough head office(mumbai)

I am sure during trading hours many don't come to forum. But still, if somebody surfing now please comment..........

these informations collected from rkglobal dot net.......
Suresh Ram S Door No. 78, Sivasubeamaniam Road, R.S.Puram Post, Coimbatore - 641002 09842430600
R Sundaram Basement Floor Shop No-20, Perrys Plaza-999, Kovai Road Karur - 639002 09994819457
A A Sarvana Raja Dindigul District Kodaikanal, - Town Old Convent Rd.Bearing, -Door No-4/15/6 Kodaikanal 9360020718
Suresh Ram S Door No.-36, Kamarajar Street, Mahalinga Puram, Kaspa Pollachi Town-642002, Pollachi Taluk, Tamilnadu 9842430600
A.A.Saravana Raja 1/217, B, The Raja Campus, Nr. Rasi Theatre Reserve Line, 9360020718
A A SARVANA RAJA Door No. 1528/1, Nehruji Road, Kottaikala M, Theni 09360020718
Suresh Ram S 112, SRC Mill Compound, B.S. Sundram Road, Tirupur - 641601 09842430600
P. Sivakumar 57- Super Bazaar, Singaratope, Trichy, Tamil Nadu - 620008 0431- 2708040, 9363023430,9488058581
N Ramasamy Room No - 1, 1st Floor, S P Building 47, V.O.C. Street, Udumal Pet Tamil Nadu - 642126, 9843330011.