VPS Share - Good broker... Better plans... Best pricing...

[Qreous]

Hi VPS,

Why I am getting this error in the morning around 9 AM.
Due to this I am unable to enter trades early.
Any specific reason for this. Is it resolvable or it will come occasionally or it will come daily in the morning.

Thanks,
Qreous...

 

[VPS SHARE]

Hi Qreous,

This problem should not occur again, the problem has been resolved.

Happy trading

 

[VPS SHARE]

Re: Why margin requirement is very high in VPS?

Dear, VPS,

I am thinking for opening a new account because of your attractive brokerage. But there is only one serious problem: Very high margin requirement with VPS.
One of my friend complained that your margin requirement is very high comparing to other brokers.

Your margin requirement for bank Nifty is about 50,000. Is it true? For last 2 or 3 years overnight margin requirement from NSE is is only about 8-10% for Index Nifty & Bank Nifty. Are you charging 17% for Bank Nifty?

My present broker 5 paisa is charging only about 24,500. How can we trade with double margin. Also my is Nifty margin is about 23,000, you are charging about 30,000. Even discount broker Zerodha is charging below 25,000 for Nifty & Bank Nifty.

Please consider to reduce such abnormally high margin requirement in Bank Nifty & if possible for Nifty too. Otherwise it is impossible to open a account with you for many small traders like us. Below is the standard margin as per NSE followed by at least 5 or more discount broker.

http://5paisa.com/5pit/spma.asp

Please consider..

Hi,

Tx for your query.

Margin that are spelled by NSE are what we are reflecting. SPAN and Exposure Margin are given by NSE and every day brokers have to report shortfall in margin client wise against the margin given by NSE.

We can assure you that VPS is not charging any thing extra then what is laid/ calculated by NSE everyday. There are differences that one finds in Brokerage charged/ turnover charges/exposure given etc etc.. from Broker to Broker.

We take your point of lesser margin being asked by others but as of now we can only say that we are charging what is spelled by exchange and nothing more.

Happy Trading

 

[soft_trader]

@ VPS,

I am thinking of changing my plan. What's the process?

Also if I change the plan in a middle of the month how would be the max cap calculated?

 

[pioneer]

my friend want to open an account with you. But the problem is he doesn't have 6 months bank statement. He opened a new bank account and the earlier account is closed. So with less than 1 months statement will it be possible to trade in F&O

 

[VPS SHARE]

@ VPS,

I am thinking of changing my plan. What's the process?

Also if I change the plan in a middle of the month how would be the max cap calculated?

Hi,

Just send the mail to [email protected] stating that you want to change the plan. We will do it. MAX CAP for next plan will be calculated from the date new plan has been made effective.

Happy Trading

 

[VPS SHARE]

my friend want to open an account with you. But the problem is he doesn't have 6 months bank statement. He opened a new bank account and the earlier account is closed. So with less than 1 months statement will it be possible to trade in F&O

Hi,

Ask your friend to scan the current and previous a/c bank statement for six month and send it to us at [email protected] and we will get back to him.

Best wishes

 

[traderite]

@ VPS ,

Off late discount brokers are offering NEST TRADER or planning to do so . This helps in integration of NSE , BSE , MCX trading in one platform. Lot of trouble is reduced this way.

Do you plan to introduce NEST TRADER in near future ?

 

[VPS SHARE]

@ VPS ,

Off late discount brokers are offering NEST TRADER or planning to do so . This helps in integration of NSE , BSE , MCX trading in one platform. Lot of trouble is reduced this way.

Do you plan to introduce NEST TRADER in near future ?

Hi,

Yes for traders who trade in all segment this helps a lot and this will come as we grow, same way as our predecessors Discount Brokers offered this after settling down for sometime. We would not be able to spell out any timeline for this at this point of time. Once we have a definite timeline for introducing this we will let the forum know.

Best wishes

 

[Jai Mata Di]

Dear VPS,
Is it possible to consider intraday square off timing for 'MIS' position for Equity F&O atleast 3:20 PM onward like most other brokers instead of 3:10 PM in VPS?

Your Exposure margin for Bank Nifty is 10% !!! :lol: abnormally high comparing to other brokers. You can make up this partially with increasing Auto square off timing by 3:25 PM while others giving us 3:20. But square off time in VPS is 3:10 another 10 min less.

It is not fair that, margin is high and auto square off timing is 10 min less.
Your brokerage structure is interesting. At least give us a chance to trade in intraday if not positional in Bank Nifty. :rofl:
Please consider Auto square off timing for Bank Nifty 3:20 PM if not 3:25 PM.

Don't be so afraid, most of traders like us have less than 2 lakh in their trading a/c, hence low risk traders. 50,000 margin money for trading Bank Nifty is too much for them.

Thanks in advance.