Upstox - RKSV - Trade in Rs 20 Max

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...
How does the responsibility lie with me if the money that was lost wasn't mine? How am I supposed to anticipate it in the first place. I add margin keeping in mind that this is as much as I get to loose. That's why I took the risk in the first place - auto square off at 80% exposure being a thing. It has happened to me before where I lost 80% of my margin, and the RMS kicked in and squared of in time. If something like that doesn't happen, who is supposed to be put to the blame? If it goes into negative - who's money is it that goes into negative, mine? Whereas I already lost 100% of what I actually am responsible for, instead of 80% it's supposed to be, so I ended up loosing an extra 20% for their RMS failing. Now how does it make sense for me to pay them back, for the losses their systems let me slip into? Get my point?
 
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.
I didn't ask what happens in case I don't pay, and they never mentioned. But the negative balance did show up in my Funds and Securities balance report, which I believe is the one reported to BSE, in which case the stakes might be higher and there might be more complications. Not sure here. What happened with the PCJ guy? Were his negatives cleared or did he just end up forgetting about the whole thing and not pay?
 

deba72

Well-Known Member
How does the responsibility lie with me if the money that was lost wasn't mine? How am I supposed to anticipate it in the first place. I add margin keeping in mind that this is as much as I get to loose. That's why I took the risk in the first place - auto square off at 80% exposure being a thing. It has happened to me before where I lost 80% of my margin, and the RMS kicked in and squared of in time. If something like that doesn't happen, who is supposed to be put to the blame? If it goes into negative - who's money is it that goes into negative, mine? Whereas I already lost 100% of what I actually am responsible for, instead of 80% it's supposed to be, so I ended up loosing an extra 20% for their RMS failing. Now how does it make sense for me to pay them back, for the losses their systems let me slip into? Get my point?
While I am fully sympathetic to your cause, I would suggest you read the Risk Disclosure Document that you have signed with your broker in detail. I am only pointing towards the legal implications... Best of Luck !
 
I didn't ask what happens in case I don't pay, and they never mentioned. But the negative balance did show up in my Funds and Securities balance report, which I believe is the one reported to BSE, in which case the stakes might be higher and there might be more complications. Not sure here. What happened with the PCJ guy? Were his negatives cleared or did he just end up forgetting about the whole thing and not pay?
Go through that thread, it's hardly 9 pages.
 
Go through that thread, it's hardly 9 pages.
Yes went through it, seems he got his money back - since it wasn't his mistake at all. My case, I want my negatives to be cleared - I take full responsibilities of the margin balance I lost. Negatives, I'm not responsible for as I expect RMS to take over. Which didn't happen. They keep telling me that the scrip was too volatile, while you said it wasn't enough for the RMS to fail. Do you think I have a case here? How should I make my argument?
 
Unable to login to Upstox NEST trader. Says "Maintenance in Progress - Please try again after sometime". How come , maintenance during market hours. I use Nest Trader RTD to excel for charting and trading. Phone call is also not answered. Totally unreliable. This is pathetic.

Anybody else facing this problem? Or do I have to reload Nest Traders?
 
Unable to login to Upstox NEST trader. Says "Maintenance in Progress - Please try again after sometime". How come , maintenance during market hours. I use Nest Trader RTD to excel for charting and trading. Phone call is also not answered. Totally unreliable. This is pathetic.

Anybody else facing this problem? Or do I have to reload Nest Traders?
Yes, I am facing the same issue.

Thankfully, I have account with another broker too.
 
Unable to login to Upstox NEST trader. Says "Maintenance in Progress - Please try again after sometime". How come , maintenance during market hours. I use Nest Trader RTD to excel for charting and trading. Phone call is also not answered. Totally unreliable. This is pathetic.

Anybody else facing this problem? Or do I have to reload Nest Traders?

Hey,

We are sorry for the inconvenience caused to you.

We would request you to use our web portal pro.upstox.com or our mobile application Upstox.

Please contact us at [email protected] if you are facing any issue.
 
Unable to login to Upstox NEST trader. Says "Maintenance in Progress - Please try again after sometime". How come , maintenance during market hours. I use Nest Trader RTD to excel for charting and trading. Phone call is also not answered. Totally unreliable. This is pathetic.

Anybody else facing this problem? Or do I have to reload Nest Traders?

Hey,

We are sorry for the inconvenience caused to you.

We would request you to use our web portal pro.upstox.com or our mobile application Upstox.

Please contact us at [email protected] if you are facing any issue.
 
Hey,

We are sorry for the inconvenience caused to you.

We would request you to use our web portal pro.upstox.com or our mobile application Upstox.

Please contact us at [email protected] if you are facing any issue.
First, do not send stereotypes replies. WE ARE NOT MACHINES.
Second, promptly and clearly acknowledge that the problem was at your end. YOU DIDNT DO THAT, INFACT YOU NEVER ACKNOWLEDGED IN YOUR REPLY.
Third, specify the cause of the problem. It helps people to gauge if such problems could be repetitive in nature or one off kind of thing. SINCE IN THE FIRST PLACE YOU NEVER ACKNOWLEDGED THE PROBLEM, HOW COULD YOU DO THIS?
Fourth, add more phone lines. Do you think if you were a customer facing such issue, would you have written an email to a generic customer support email id to raise such kind of issue which needed the most urgent attention and revert or would you have picked up the phone. YOU DID ASKED US TO DO WHAT YOU YOURSELF WOULDN'T HAVE DONE.
Fifth, do not apologise if you do not mean it. YOU JUST DID THAT.


As I mentioned that I use Nest Trader RTD to excel for charting, what the hell do I do using your web portal without charts...play Sanjay Dhritirashtra??