Broker which provide 5x+ margin for selling option? Fed up of RKSV issues

headstrong007

----- Full-Time ----- Day-Trader
#32
Still, no one can compete with Prehistoric NSE NOW in terms of stability. :DD :eekk::rolleyess:

***************
The technical glitch can happen, but the most disturbing things are series of human errors followed by such tech glitches due to inefficient customer cares. Now, these are happening with all brokers very frequently. :oo:confusedd:
 
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headstrong007

----- Full-Time ----- Day-Trader
#34
I have account with them... check your stats......There is no extra charge for extra leverage....
You are certainly wrong with your stats, check your breakeven.

Extra Rs 150 charge/Cr is included inside the Turnover. :p It's 190+150=340.
That Rs 150 charge/Cr is the charge for extra leverage(included inside Transaction Charge cleverly).

https://wisdomcapital.in/brokerage-calculator/

The fact is, no broker is doing charity business.
You have to pay for such high extra leverage either directly(finvasia- optional) or indirectly inside turnover charge (fortune, ashta, wisdom).
Other brokers like Upstox, Zerodha, SAS, TradeSmart etc are charging it(add-on turnover tax) in the name Clearing Member Charge. Usually, more the leverage more the cost attached with breakeven. The choice is yours.
 
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#35
You are certainly wrong with your stats, check your breakeven.

Extra Rs 150 charge/Cr is included inside the Turnover. :p It's 190+150=340.
That Rs 150 charge/Cr is the charge for extra leverage(included inside Transaction Charge cleverly).

https://wisdomcapital.in/brokerage-calculator/

The fact is, no broker is doing charity business.
You have to pay for such high extra leverage either directly(finvasia- optional) or indirectly inside turnover charge (fortune, ashta, wisdom).
Other brokers like Upstox, Zerodha, SAS, TradeSmart etc are charging it(add-on turnover tax) in the name Clearing Member Charge. Usually, more the leverage more the cost attached with breakeven. The choice is yours.
If you trade there, you might be getting contract notes in which the bifurcation is there for transaction and clearing charges.....
we were discussing about high leverage and transaction charge... not the clearing charges, etc.....

Anyways, even if you include clearing charge it comes up 325/- per crore....

Don't you think its still better than paying 490/- per crore??? :angelic:


Just asking, I guess you have experienced alot of brokers which obviously I have not....:)
 

headstrong007

----- Full-Time ----- Day-Trader
#36
If you trade there, you might be getting contract notes in which the bifurcation is there for transaction and clearing charges.....
we were discussing about high leverage and transaction charge... not the clearing charges, etc.....

Anyways, even if you include clearing charge it comes up 325/- per crore....

Don't you think its still better than paying 490/- per crore???


Just asking, I guess you have experienced alot of brokers which obviously I have not....:)
We are just discussing the overall cost, in any name. What is in a name? It goes from traders pocket.

The fact is min charge is Rs 190, even zero brokerage finvasia offers that. Anything over it is extra whether in the name transaction or clearing cost- all are attached cost.

I don't trade with wisdom so can't verify. Even it is 325 not much difference from 340 (which brokerage calculator shows). 325-190=135.

You see only 490 but not much extra leverage the are providing? :angelic:
The leverage is more so the attached cost is more(already said). Their leverage is much higher than Wisdom. So obviously the charge is more. Those profitable traders who want extra intraday leverage don't care about one point extra breakeven on 25,000+ BNF. I share it for them as it is currently highest leverage available.

You must admit there are different kind of traders with different requirement. For some day traders, maximum leverage is one of the most important criteria.

If you think [email protected] with 135 extra is better than [email protected] with 300, then it's your choice. Simple. Some profitable trader may love to trade Nifty @5000 and increase volume with same capital. I share it with those. Whats your problem!
It's better to leave the topic. No more followup post from my side.
 
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#37
We are just discussing the overall cost, in any name. What is in a name? It goes from traders pocket.

The fact is min charge is Rs 190, even zero brokerage finvasia offers that. Anything over it is extra whether in the name transaction or clearing cost- all are attached cost.

I don't trade with wisdom so can't verify. Even it is 325 not much difference from 340 (which brokerage calculator shows). 325-190=135.

You see only 490 but not much extra leverage the are providing? :angelic:
The leverage is more so the attached cost is more(already said). Their leverage is much higher than Wisdom. So obviously the charge is more. Those profitable traders who want extra intraday leverage don't care about one point extra breakeven on 25,000+ BNF. I share it for them as it is currently highest leverage available.

You must admit there are different kind of traders with different requirement. For some day traders, maximum leverage is one of the most important criteria.

If you think [email protected] with 135 extra is better than [email protected] with 300, then it's your choice. Simple. Some profitable trader may love to trade Nifty @5000 and increase volume with same capital. I share it with those. Whats your problem!
It's better to leave the topic. No more followup post from my side.

Your post is sensible. I am a day trader too. Which broker are you with ?
 

headstrong007

----- Full-Time ----- Day-Trader
#38
Different brokers have different edge and week points. I am using multiple brokers.
I also split the trading cap with multiple brokers to cut the risk during a technical glitch.
But trading with multiple brokers is a little hazard, I need multi-monitors setup and mobile too just bcoz could not find any ultimate broker(with leverage and stable terminal both). :p

Trading with,
Mainly IB (I love Trader Workstation for seconds charts, they have little higher margin requirement)
and Finvasia [they are best for options trading (only long side)]. Transaction in Future also lowest with zero brokerage if u can compromise low intraday leverage.
and SAMCO(Stock Note mobile app one of the best mobile app, Samco have high leverage for day traders).

I have the accounts with Fyers (Fyers One has many useful tools) & Upstox.

Still searching for a good stable & trusted broker with high intraday leverage, the ultimate one. :happy:
 
#39
I recently opened account with Upstox trying to get better intraday margin for option selling.
Their normal plan gives 4X and priority plan says 6X (and you pay 30/- per order instead of 20/-).
The backend Keystone portal confirms this in T&C (see pic attached), checked with the support as well before subscribing.

1535836640665.png



This is so till you subscribe to the plan, and you see that your margin for Index Option selling is coming only at 5X.

When you raise this with Support, here is what they come back with.

------------------------------------------------------------------------

Thank you for writing to us.

This is to inform you that as per the new guideline from SEBI for span and exposure margin which client need to pay the margin we provide for option selling is 5 time under priority pack.

If you have any other queries, please do email to us on [email protected]. We will be glad to help you.
Regards,
Obaid Shaikh
Upstox | www.upstox.com
follow us on Facebook | Twitter | Google +
Visit our Help Center
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I have seen quite bad feedback raised by people here, but this looks downright ridiculous.
 
#40
kotak 999 intraday plan is good.. i m trading in it from 20th august... paying Rs.10 to Rs.13 approx for 1 lot of buy n sell
i buy n sell aprox 20 lots of options so total brokerage and tax come around 200-250 which is very cheap compared to my other broker zerodha where i could b paying 1200 in brokerage+tax @flat 20 ... so lots of saving
 

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