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..