RKSV - Unlimited Online Trading @ 1947/-

[timepass]

Hello RKSV,

a) If a member wants to suspend trading for some period for any reason (vacation etc..), will you continue to charge Rs. 1947 p.m. or do you have any provisions for suspend/ resume ?? And any charges for closing the account (for whatever reason).

b) What about your pay-in and pay-outs - Online for most of the banks as I see on your website ? Any charges for the same ?

c) How much money is needed for, say, trading 1 lot nifty intraday/ delivery, and the same for other scrips.

d) Do you auto-square off intraday trades or do they have to be manually squared off ? If yes, then at what time do you do auto-square off ?

e) You have illustrated a nifty trade with example and shown that the breakeven is Rs. 1.60. Can you also post some examples with options and equity also.

f) Can we use the same money for different segments or does one have to maintain separate margins for NSE & BSE ??

g) You said that you are a member of various exchanges so how come Currency and Commodity are not available for trading ? Will they be available in future ? If yes, when ?

h) How long will this scheme (Rs. 1947 pm) last ? You will increase the brokerage sometime in future, won't you ?


Thanks.

-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x-x

Comments :
Rs. 1947 pm - assuming 20 trading days a month it comes to about Rs. 100 per day. Fine for a regular trader.

RSKV posted that they gave 10 free accounts to TJ members. So, whoever is using it, please post your experience with this broker.

 

[kiranjakka]

Hi rskv,
hi i just have 5 questions for you
1.suppose i dont want to trade for a month do i need to still pay 1947
2.do you provide now online platform and will u reduce the required margin for spread postions
3.what are the charges if i trade 330000 worth options on buy and 330000 worth options for sell side?(tunrover ,educess,service tax,stt,stampduty and others?
4.do you offer any charting

 

[vaibhavstr5]

Hello RKSV,
RSKV posted that they gave 10 free accounts to TJ members. So, whoever is using it, please post your experience with this broker.

It would be appreciated if they post pics of contract notes for atleast few trades.

 

[vaibhavstr5]

RSKV posted that they gave 10 free accounts to TJ members. So, whoever is using it, please post your experience with this broker.

Would appreciate if the new users post pics of the contract notes

 

[vallabh_joy123]

My only one Que: Rs.1947 inclusive of service tax or exclusive...

????????????

 

[vallabh_joy123]

My only one Que: Rs.1947 inclusive of service tax or exclusive...

According to rksv authorised person. i.e Service tax is Exclusive of Rs.1947:thumb: including service tax charges will be Rs.2148/-:clapping:

 

[RKSV]

Hi timepass,

Answers to your questions are below. Some of these are already there in our FAQ.

a) If a member wants to suspend trading for some period for any reason (vacation etc..), will you continue to charge Rs. 1947 p.m. or do you have any provisions for suspend/ resume ?? And any charges for closing the account (for whatever reason).

Nope, we don't charge you the Freedom plan if you don't trade for the month. We debit the Freedom plan charges at the beginning of the month, and then credit it at month end (or account close) if there's no trading done. There are no fees for closing the account either.

b) What about your pay-in and pay-outs - Online for most of the banks as I see on your website ? Any charges for the same ?

This is a good question and was not listed in our FAQ. We will add it accordingly. Thanks for asking. Depositing money is free. Outward transactions are charged RBI rates, those are listed below.

For NEFT:

http://www.rbi.org.in/scripts/FAQView.aspx?Id=60

- For transactions up to Rs 1 lakh not exceeding Rs 5 (+ Service Tax)
- For transactions above Rs 1 lakh and up to Rs 2 lakhs not exceeding Rs 15 (+ Service Tax)
- For transactions above Rs 2 lakhs not exceeding Rs 25 (+ Service Tax)

For RTGS:

http://www.rbi.org.in/SCRIPTs/FAQView.aspx?Id=65

- Rs. 2 lakh to Rs. 5 lakh - not exceeding Rs. 30 per transaction.
- Above Rs. 5 lakh - not exceeding Rs. 55 per transaction.

c) How much money is needed for, say, trading 1 lot nifty intraday/ delivery, and the same for other scrips.

Here are our margin requirements:

Equity: We provide 5x exposure for all NSE and BSE securities that have products on the NSE-FO market. For other stocks that are not on this list but have a 20% circuit limit breaker, we provide 2x exposure.

NSE F&O: All derivatives are allowed to trade on 60% of applicable (span plus exposure) margin. To carry forward the positions, the customer would need 100% of the applicable margin. So if you want purchase 1 lot of NIFTY futures valued at Rs. 2,50,000 (Rs. 5000 for 1 lot of 50 shares), you would need Rs. 15,450 (60% of margin) for intra-day applicable margin or Rs. 25,750 (100% of margin) if you want to carry-forward the position.

d) Do you auto-square off intraday trades or do they have to be manually squared off ? If yes, then at what time do you do auto-square off ?

We do auto square off intraday trades around 3:15 PM. If you want to carry forward the position then you would need to convert the position delivery code before 3:15pm, otherwise it will be squared off by the system automatically.

e) You have illustrated a nifty trade with example and shown that the breakeven is Rs. 1.60. Can you also post some examples with options and equity also.

Sure, here is an example of a option priced at Rs. 100. You buy one lot and sell 1 lot at Rs. 100. Therefore, your total turnover done is 100 x 50 x 2 = Rs. 10,000

STT = Rs 0.85
Turnover charges = Rs 8
Service Tax = Rs 0.8
Other Charges = Rs. 0.24
Total = Rs. 9.89.

Therefore, your break-even point is 9.89/50 = 0.1978; rounded up, this becomes Rs. 0.20.

Here is an example of an equity priced at Rs. 100. You buy 50 shares and sell 50 shares at Rs. 100. Therefore, your total turnover done is 100 x 50 x 2 = Rs. 10,000

STT = Rs 1.25
Turnover charges = Rs 0.52
Service Tax = Rs 0.052
Other Charges = Rs. 0.212
Total = Rs. 2.034

Therefore, your break-even point is about 2.034/50 ~ Rs. 0.05

f) Can we use the same money for different segments or does one have to maintain separate margins for NSE & BSE ??

You can use the same margin.

g) You said that you are a member of various exchanges so how come Currency and Commodity are not available for trading ? Will they be available in future ? If yes, when ?

We are not member of commodity exchanges. As for currency, we don't have any plans to offer it for members. It will be offered in the future but we cannot promise you an exact date or time.

h) How long will this scheme (Rs. 1947 pm) last ? You will increase the brokerage sometime in future, won't you ?

No plans to change it anytime soon

Hope that helps.

Best,

RKSV

 

[RKSV]

According to rksv authorised person. i.e Service tax is Exclusive of Rs.1947:thumb: including service tax charges will be Rs.2148/-:clapping:

Hi Vallabh,

Yes it is 1947/- before service tax. It comes to Rs. 2147.54 after applying a 10.3% service tax of Rs. 200.54 (10.3%). This is mentioned in the account opening forms but not there in the FAQ. Will add it soon. Thanks for mentioning it.

Best,

RKSV

 

[RKSV]

Hi rskv,
hi i just have 5 questions for you

Hi kiranjakka,

Here are the answers to your queries.

1.suppose i dont want to trade for a month do i need to still pay 1947

No, we do not charge you if you don't trade for the month. You don't need to let us know either. We debit the monthly fee at the beginning of the month and credit it at the end of the month if you don't have a single trade.

2.do you provide now online platform and will u reduce the required margin for spread postions

We do provide NOW online platform. The margin is automatically reduced if you place from the spread window. If you place two manual orders between two individual contracts, you will also get the margin benefit once both orders have been executed. This is available to you because of the inherent way SPAN margining system works.

3.what are the charges if i trade 330000 worth options on buy and 330000 worth options for sell side?(tunrover ,educess,service tax,stt,stampduty and others?

Rs. 3,30,000 on buy-side and Rs. 3,30,000 on sell-side comes to a total of Rs. 6,60,000. Total fees are about Rs. 652.35.

STT = Rs. 56.1
Turnover Charges = Rs. 528
Service Tax = Rs. 52.8
Other Charges = Rs. 15.45
Total = Rs. 652.35.

4.do you offer any charting

NSE NOW offers you intraday charts on price and volume, and an OHLC chart. You can also use NSE TAME charts freely available at http://www.nseindia.com/ChartApp/install/charts/mainpage.jsp.

Best,

RKSV

 

[nilesh53333]

Originally Posted by timepass
Hello RKSV,
RSKV posted that they gave 10 free accounts to TJ members. So, whoever is using it, please post your experience with this broker.

It would be appreciated if they post pics of contract notes for atleast few trades.

yes i have opened account with them. i have send them my form. my account will open in 2 days. as soon as my account will open i will show my contract notes here for u people. :thumb: