Cheapest & Competent Brokerage
- Thread starter JINNY
- Start date
Hey Jinny
i am using ODIN for 4 months & i think its the best
My broker is religare & they charge me .03% which comes ot to .05% including everything
There r no resrictions on which scrips u can trade & daytrading till 3:30 pm
is allowed i.e no auto square up, levreage given is 10 times
Overall i am satisfied but i wanna reduce my brokerage bill
Two questions
1. Suppose u hv 10000 as margin & with 6 times levrage can take position worth 60k with RK, suppose u lost 1000, now in ue next trade what will be ur postion size 54000 or same 60k, In my case it remains the same.
2. did u have any problems with RK service & other charges come to hw much say 1 paisa 0r 1.2 paisa
Appreciate ur help
Naveen
i am using ODIN for 4 months & i think its the best
My broker is religare & they charge me .03% which comes ot to .05% including everything
There r no resrictions on which scrips u can trade & daytrading till 3:30 pm
is allowed i.e no auto square up, levreage given is 10 times
Overall i am satisfied but i wanna reduce my brokerage bill
Two questions
1. Suppose u hv 10000 as margin & with 6 times levrage can take position worth 60k with RK, suppose u lost 1000, now in ue next trade what will be ur postion size 54000 or same 60k, In my case it remains the same.
2. did u have any problems with RK service & other charges come to hw much say 1 paisa 0r 1.2 paisa
Appreciate ur help
Naveen
Hi Naveeva:
I'm sorry for late reply.
1.They have a surveillance watch system which would have reduced the exposure limit to 54000.
2. .03 % is abominable compared to Rs.9.00. RKG has not billed me for any other charges (like indiabull's Position Holding Charges) till now. My be they will get smarter soon as they are moving their registered office to Mumbai.
3. PROBLEMS I'VE FACED WITH RK GLOBAL.
a) They will send you an alert at 3.33PM to pay MTM loss by next morning or they will square of the position.
I received one such alert y'day and within 10 minutes i transferred the money online from HDFC. Funds view in Odin was updated immediately.
BUT one Mr. Ahuja called me today at 11.30 in thick of market action asking me brusquely and harshly (don't expect manners from these penny brokerage houses ) and asked to pay for MTM loss. When i told him that i've already transferred the money, he said they have not received it. Then I asked him to let me speak to their one Mr. Sanjay (maybe he is head of all these fellows) who after 5 minutes including lot of keyboard click sounds clarified that, yes, they have indeed received the money! That tell a lot about their back-office set up.
This is very very disturbing during market hours.
b)The equity i bought on 8th Feb. in delivery was not in my portfolio till 12th Feb. When i sold it i was required to call them up that this orders was against my buy order of 8th Feb.
AND when it gets sold you do not get immediate credit in your account. So in nutshell BTST is a big problem with RKG. So i bought the covering equity on PIB instead of RKG.
RKG appears to be a typical Marwari Business without optimum utilisation of automation in backoffice chores, relying solely on one trusted employee and in perpetual fear of client running away with their money
But then, when i see their brokerage bill against that of Indiabulls , i forgive them ...... till someone else come up with similar brokerage. After all we are here to make money.
thanks and regards.
I'm sorry for late reply.
1.They have a surveillance watch system which would have reduced the exposure limit to 54000.
2. .03 % is abominable compared to Rs.9.00. RKG has not billed me for any other charges (like indiabull's Position Holding Charges) till now. My be they will get smarter soon as they are moving their registered office to Mumbai.
3. PROBLEMS I'VE FACED WITH RK GLOBAL.
a) They will send you an alert at 3.33PM to pay MTM loss by next morning or they will square of the position.
I received one such alert y'day and within 10 minutes i transferred the money online from HDFC. Funds view in Odin was updated immediately.
BUT one Mr. Ahuja called me today at 11.30 in thick of market action asking me brusquely and harshly (don't expect manners from these penny brokerage houses ) and asked to pay for MTM loss. When i told him that i've already transferred the money, he said they have not received it. Then I asked him to let me speak to their one Mr. Sanjay (maybe he is head of all these fellows) who after 5 minutes including lot of keyboard click sounds clarified that, yes, they have indeed received the money! That tell a lot about their back-office set up.
This is very very disturbing during market hours.
b)The equity i bought on 8th Feb. in delivery was not in my portfolio till 12th Feb. When i sold it i was required to call them up that this orders was against my buy order of 8th Feb.
AND when it gets sold you do not get immediate credit in your account. So in nutshell BTST is a big problem with RKG. So i bought the covering equity on PIB instead of RKG.
RKG appears to be a typical Marwari Business without optimum utilisation of automation in backoffice chores, relying solely on one trusted employee and in perpetual fear of client running away with their money
But then, when i see their brokerage bill against that of Indiabulls , i forgive them ...... till someone else come up with similar brokerage. After all we are here to make money.
thanks and regards.
Last edited:
Tnx a lot Jinny
I wonder why any daytrader shud use anything else but odin .
now in continuity to my question: Wud there surveilance system upgrade limit i.e. if i make 1000 then wud my postion size be increased to 66000.
I see that most of ur problems with RK ppl are delivery based, I am a daytrader & only take postions spanning more than a day in options
Now religare creidts/debits my A/c same day evening so that it is reflected tomorrow
Hw is it with RK
Thnx agian
Naveen
I wonder why any daytrader shud use anything else but odin .
now in continuity to my question: Wud there surveilance system upgrade limit i.e. if i make 1000 then wud my postion size be increased to 66000.
I see that most of ur problems with RK ppl are delivery based, I am a daytrader & only take postions spanning more than a day in options
Now religare creidts/debits my A/c same day evening so that it is reflected tomorrow
Hw is it with RK
Thnx agian
Naveen
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