RK Global Commodity charges

Hello traders,

I want to open a commodity account. After much research i have zeroed on RK Global and Achievers.

I would go for achievers commodity but I have figured out that the turnover charges of Achiever is high (Not confirmed though). As per a word file posted by Timepass it is mentioned that it is Rs. 500/- per crore in commodity. Don't know if that is correct or not.

Now as per my trading style my daily turnover in commodities would range anywhere between Rs. 50 lakhs to a Crore.

As per my past trading experience in commodity with Sharekhan/IIFL/Indiabulls etc. they all charge the Turnover fee as 0.0025% or Rs.250/- per crore. They are all clearing members with the exchange. But Achievers is not.

Now my query is how much RKG is charging as Turnover charges in Commodity? What is the stamp duty of RKG in commodity? Can anyone provide a sample contract note please.

One interesting thing I have discovered is that brokers are charging Rs.100/- per crore in commodity. I have checked both Sharekhan and Indiabulls ECN. While the same brokers are charging Rs. 200/- per crore in equity segment.

After going through some posts in TJ I found this link.

http://www.traderji.com/commodities...reater-than-commodity-charges.html#post749334

As per calculation of Mr. Manish it comes to Rs.450 per crore in RKG. Is it true?

Just now called up RK Global. They confirmed that it is Rs.450/- per crore. Given the fact that they are a clearing member of MCX they are just overcharging by Rs. 200/- per crore. The brokerage of Rs 9 per lot is just an illusion.

I understand why Zerodha and Achiever is overcharging, but what may be the reason behind RKG to do that. It's a sheer malpractice

We cant call it a malpractice, as these charges are mentioned upfront. But yes not a very transparent way of doing business.

btw, Zerodha is doing the same with all segments on NSE, overcharging on transaction charges, and pocketing the money.

Funny thing is they keep talking about their high ethical business standards

Cheers

Zerodha is charging high because it is not a clearing member of the exchange and it has to pay to it's clearing partner. But yes the charges are high.

But wondering what can the reason behind RKG to do that. They are clearing members of the exchange.

Not being a clearing member is just an excuse to make some extra money from levying higher transaction charges . . .

Anyway our broker choice is based on service, and cost that is all inclusive of brokerage / transaction charges taxes, etc

I think the next step for the Discount Brokers is to become a 'Clearing Member', then they would be able to provide better savings.

Is there any broker out there giving better than TransactionCharges 200/Crore, StampC 100/Crore & Brokerage 400/Crore ?

Pardon my limited knowledge, but how is 100/Crore TCharges even possible ?

Look bro I dont know what is overcharging/lowercharging. I just Know one thing about RKG that my crude (buying+selling) per lot cost total (brokerage+tax+charges) is lying between 60-80 depending on levels of crude. I dont find any broker who is charging such a low brokerage in single lot trading. If any body is aware then please tell me.
Hell to what is charged by Mcx. I am interested in what I am paying and saving. I have account with share khan too and traded 1000 transactions there but when crude is at this level there cost is between rs 150-180. So why not I tell RKG is cheaper. If I am daily saving rs 3000-6000 from RKG. Hope people can understand simple logic. If somebody give cheaper I will go to him.I have not married to RKG but the broker should be reliable. At RKG only one problem that they dont give margin and in small loss they start shouting for margin for this they are lol.

Thanks for that......

Can you tell me what they (RKG) are charging as stamp duty? Is it Rs. 100 per crore or Rs 200 per crore?

Can you post a sample contract note please.

Also I would assume that you are using ODIN. How is the service you are getting and are you satisfied with ODIN?

Ya I am satisfied with odin very rarest probs in 6 month.It may happen with another broker too. stamp duty I think rs 200. Ok I will.Their contract note format is not attachable so i am sending u my transaction on particular date compute it your self.





Daily MTM Bill




Company: R K GLOBAL COMMODITY BROKING LIMITED Client Code: IK35--N
-- Bill Date : 9/20/2012 0:0:0
-- Bill No. : DLYMTM/IK3596N-2009
--
--
----------------------------------------------------------------------------------------------------------
Contract Opt.Type Mult. Qty Trade Price Net Price Brok. Purch. Value Sale Value
----------------------------------------------------------------------------------------------------------
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5010.00 5010.00 9 0.00 500991.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5015.00 5015.00 9 0.00 501491.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5016.00 5016.00 9 0.00 501591.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5010.00 5010.00 9 501009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5010.00 5010.00 9 501009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5008.00 5008.00 9 500809.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5010.00 5010.00 9 0.00 500991.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5018.00 5018.00 9 0.00 501791.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5019.00 5019.00 9 0.00 501891.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5031.00 5031.00 9 0.00 503091.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5022.00 5022.00 9 502209.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5020.00 5020.00 9 502009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5024.00 5024.00 9 0.00 502391.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5019.00 5019.00 9 501909.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5017.00 5017.00 9 501709.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5025.00 5025.00 9 0.00 502491.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5024.00 5024.00 9 502409.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5021.00 5021.00 9 502109.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5032.00 5032.00 9 0.00 503191.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5033.00 5033.00 9 0.00 503291.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5058.00 5058.00 9 0.00 505791.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5049.00 5049.00 9 504909.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5047.00 5047.00 9 504709.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5043.00 5043.00 9 0.00 504291.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5043.00 5043.00 9 0.00 504291.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5036.00 5036.00 9 503609.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5050.00 5050.00 9 0.00 504991.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5040.00 5040.00 9 504009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5038.00 5038.00 9 503809.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5030.00 5030.00 9 503009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5035.00 5035.00 9 0.00 503491.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5035.00 5035.00 9 0.00 503491.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5040.00 5040.00 9 0.00 503991.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5044.00 5044.00 9 0.00 504391.00
FUTCOMCRUDEOIL15NOV2012 11 1 200 5040.00 5040.00 18 1008018.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5046.00 5046.00 9 504609.00 0.00





Daily MTM Bill




Company: R K GLOBAL COMMODITY BROKING LIMITED Client Code: IK35--N
-- Bill Date : 9/20/2012 0:0:0
-- Bill No. : DLYMTM/IK3596N-2009
--
--
----------------------------------------------------------------------------------------------------------
Contract Opt.Type Mult. Qty Trade Price Net Price Brok. Purch. Value Sale Value
----------------------------------------------------------------------------------------------------------
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5048.00 5048.00 9 0.00 504791.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5047.00 5047.00 9 0.00 504691.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5041.00 5041.00 9 504109.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5057.00 5057.00 9 0.00 505691.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5062.00 5062.00 9 0.00 506191.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5049.00 5049.00 9 504909.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5048.00 5048.00 9 504809.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5047.00 5047.00 9 504709.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5058.00 5058.00 9 0.00 505791.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5061.00 5061.00 9 0.00 506091.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5052.00 5052.00 9 505209.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5051.00 5051.00 9 505109.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5050.00 5050.00 9 505009.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5054.00 5054.00 9 0.00 505391.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5056.00 5056.00 9 0.00 505591.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5055.00 5055.00 9 0.00 505491.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5056.00 5056.00 9 505609.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5052.00 5052.00 9 505209.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5048.00 5048.00 9 504809.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5049.00 5049.00 9 504909.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5053.00 5053.00 9 0.00 505291.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5060.00 5060.00 9 0.00 505991.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5061.00 5061.00 9 0.00 506091.00
FUTCOMCRUDEOIL15NOV2012 11 1 -100 5061.00 5061.00 9 0.00 506091.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5059.00 5059.00 9 505909.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5058.00 5058.00 9 505809.00 0.00
FUTCOMCRUDEOIL15NOV2012 11 1 100 5059.00 5059.00 9 505909.00 0.00
Contract net: 7224.00 16123888.00 16131112.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 4997.00 4997.00 9 0.00 499691.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5000.00 5000.00 9 0.00 499991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5004.00 5004.00 9 0.00 500391.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5005.00 5005.00 9 0.00 500491.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4999.00 4999.00 9 499909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4997.00 4997.00 9 499709.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4994.00 4994.00 9 499409.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4994.00 4994.00 9 499409.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4989.00 4989.00 9 498909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 4995.00 4995.00 9 0.00 499491.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 4989.00 4989.00 9 498909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5000.00 5000.00 9 0.00 499991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5003.00 5003.00 9 0.00 500291.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5004.00 5004.00 9 0.00 500391.00





Daily MTM Bill




Company: R K GLOBAL COMMODITY BROKING LIMITED Client Code: IK35--N
-- Bill Date : 9/20/2012 0:0:0
-- Bill No. : DLYMTM/IK3596N-2009
--
--
----------------------------------------------------------------------------------------------------------
Contract Opt.Type Mult. Qty Trade Price Net Price Brok. Purch. Value Sale Value
----------------------------------------------------------------------------------------------------------
FUTCOMCRUDEOIL19OCT2012 11 1 100 5008.00 5008.00 9 500809.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5007.00 5007.00 9 500709.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5030.00 5030.00 9 0.00 502991.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5021.00 5021.00 9 502109.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5009.00 5009.00 9 0.00 500891.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5020.00 5020.00 9 0.00 501991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5019.00 5019.00 9 0.00 501891.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5022.00 5022.00 9 0.00 502191.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5020.00 5020.00 9 502009.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5020.00 5020.00 9 502009.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5019.00 5019.00 9 501909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5018.00 5018.00 9 501809.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5020.00 5020.00 9 0.00 501991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5021.00 5021.00 9 0.00 502091.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5016.00 5016.00 9 0.00 501591.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5020.00 5020.00 9 0.00 501991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5030.00 5030.00 9 0.00 502991.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5031.00 5031.00 9 0.00 503091.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5031.00 5031.00 9 0.00 503091.00
FUTCOMCRUDEOIL19OCT2012 11 1 -100 5033.00 5033.00 9 0.00 503291.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5031.00 5031.00 9 503109.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5029.00 5029.00 9 502909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5029.00 5029.00 9 502909.00 0.00
FUTCOMCRUDEOIL19OCT2012 11 1 100 5026.00 5026.00 9 502609.00 0.00
FUTCOMCRUDEOIL19OCT2012 BF 1 400 5015.00 5015.00 0 2006000.00 0.00
Contract net: 5658.00 10525153.00 10530811.00
FUTCOMLEAD31OCT2012 11 1000 -5 121.75 121.75 9 0.00 608741.00
FUTCOMLEAD31OCT2012 CF 1000 5 121.85 121.85 0 609250.00 0.00
Contract net: -509.00 609250.00 608741.00
FUTCOMZINC28SEP2012 11 1000 5 113.15 113.15 9 565759.00 0.00
FUTCOMZINC28SEP2012 BF 1000 -5 113.80 113.80 0 0.00 569000.00
Contract net: 3241.00 565759.00 569000.00
FUTCOMZINC31OCT2012 11 1000 -5 114.15 114.15 9 0.00 570741.00
FUTCOMZINC31OCT2012 11 1000 5 113.40 113.40 9 567009.00 0.00
Contract net: 3732.00 567009.00 570741.00
----------------------------------------------------------------------------------------------------------
Gross Amount : 19346.00 Service Tax : 117.91 Trxn. Chg : 0.00
S.tax(Trxn Chg) : 0.00 Clearing Chrg : 0.00 S.Tax Clearing Chrg : 0.00
OTHER CHARGES : 2412.78 S.Tax on OTHER CHARGES : 298.22 Net Amount : 16517.09
Total Brok. : 954.00 Tax2 : 0.00 Stax on Tax2 : 0.00
Total Turnover : 53617250.00
----------------------------------------------------------------------------------------------------------