Upstox - RKSV - Trade in Rs 20 Max

[marimuthu13]

One more thing. Look at the irresponsibility on UpStox side. They make code changes and dont inform/caution users. Neither do they test it properly. Read here : https://upstox.com/forum/topic/1290/api-optimisation-and-quicker-replies
So a VIP service is not going to help after you lose money due to infrastructure failure.

Yes ..I agree with you..

 

[FnOtrader80]

You should try Interactive Brokers api us free and discount brokerage
Most importantly full api and free

Are you using IB personally ? if yes please inbox me your experience

 

[AmitParmar]

Recently we had faced problem with wrong MTM calculations. I provided them screenshots from web and mobile along with timestamp. They had deducted 14k from my profit but no explanation from them. Even after explaining problem to their few executives, they don't bother to resolve issue. They don't know where money disappeared between MTM to ledger book.

 

[Snake.Head]

Recently we had faced problem with wrong MTM calculations. I provided them screenshots from web and mobile along with timestamp. They had deducted 14k from my profit but no explanation from them. Even after explaining problem to their few executives, they don't bother to resolve issue. They don't know where money disappeared between MTM to ledger book.

Post screenshot here
Just hide client ID

 

[Contra]

Recently we had faced problem with wrong MTM calculations. I provided them screenshots from web and mobile along with timestamp. They had deducted 14k from my profit but no explanation from them. Even after explaining problem to their few executives, they don't bother to resolve issue. They don't know where money disappeared between MTM to ledger book.

Upstox is a very cunning & irresponsible broker.
Keep all records and follow up with their compliance officer (their executives are useless).
14k is not a small amount.

 

[amateurtrader33]

Will get senior folks to take a look at this in the morning. Thanks for bringing this up.. didn't see the other thread.

@RKSV So I faced a problem with my margin slipping into negative on a trade last month, following which I got my funds and securities balance report which reflected that negative. Any advice on how to handle this? Not much knowledge here, could really use some help. Context on the thread here - http://www.traderji.com/community/threads/upstox-margin-slips-to-40k-on-an-intraday-position.106580/

 

[Contra]

@RKSV So I faced a problem with my margin slipping into negative on a trade last month, following which I got my funds and securities balance report which reflected that negative. Any advice on how to handle this? Not much knowledge here, could really use some help. Context on the thread here - http://www.traderji.com/community/threads/upstox-margin-slips-to-40k-on-an-intraday-position.106580/

Post your details & query on Upstox's forum and their Twitter account. That's the only way they'd be bothered to respond. Also, like I advised you on your thread, send a detailed email with facts & figures to RKSV's compliance officer. His email can be found on the top right of your contract note.

Upstox forum: https://upstox.com/forum
Upstox twitter: https://twitter.com/upstox?lang=en

 

[amateurtrader33]

Update: Connected with them on twitter, this is what they said -
"It was due to scrip movement in which was very spontaneous thus leading to such % of losses. We understand the concern, but cannot do much since the volatility in the scrip cannot be controlled. "

Does this sound right? I asked them to clear my negatives, they said it won't be possible. Their response is somewhat vague and sounds like they want to cover this

 

[deba72]

Update: Connected with them on twitter, this is what they said -
"It was due to scrip movement in which was very spontaneous thus leading to such % of losses. We understand the concern, but cannot do much since the volatility in the scrip cannot be controlled. "

Does this sound right? I asked them to clear my negatives, they said it won't be possible. Their response is somewhat vague and sounds like they want to cover this

IMHO, notwithstanding the robustness ( or the lack of it ) of Broker's RMS, primarily the responsibility of the trades executed by you lies with you. If the trade is going to wipe you out, you just can't wait the RMS team to close it... So in this case, if they failed to do so, its a failure of the risk management system on their part but that does not absolve you from paying the dues. As I understand ( I may be wrong ) , RMS is a safety tool brokers design for themselves... In case you don't pay back things might move to arbitration...

 

[Newbie Day-Trader]

IMHO, notwithstanding the robustness ( or the lack of it ) of Broker's RMS, primarily the responsibility of the trades executed by you lies with you. If the trade is going to wipe you out, you just can't wait the RMS team to close it... So in this case, if they failed to do so, its a failure of the risk management system on their part but that does not absolve you from paying the dues. As I understand ( I may be wrong ) , RMS is a safety tool brokers design for themselves... In case you don't pay back things might move to arbitration...

You're right that the trades are the responsibility of the traders, & it may be that the Law is on the side of the brokers but in the market, customer is king, & such instances won't be looked upon kindly by most traders. I could be wrong but I'm not sure if Upstox have said anything to him about arbitration.