RKSV - Upstock Brokerage Calculations

Alchemist

Administrator
Staff member
#1
I started trading with Upstox (RKSV) yesterday.

I have created an MS excel file for easy brokerage calculations.

List of basic charges:

Buy side:

Brokerage: 0.01% (Max 20)
Brokerage + Service Tax: (0.0115%) (Max Rs 23)

STT: 0
Transaction charges: 0.00325%
SEBI charges: 0.0002%
Stamp Duty: 0.002% (Maharashtra; may vary for other states).


Sell side:

Brokerage: 0.01% (Max 20)
Brokerage + Service Tax: (0.0115%) (Max Rs 23)

STT: 0.025%
Transaction charges: 0.00325%
SEBI charges: 0.0002%
Stamp Duty: 0.002% (Maharashtra; may vary for other states).

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If TB is the buy side turnover, total charges will be:

Min (23, 0.0115% of TB) + (0.00545% of TB)

If TS is the sell side turnover, total charges will be:

Min (23, 0.0115% of TB) + (0.03045% of TB)

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

One can use the following formula in MS Excel for the calculations:

Sell side expenses (SSE)

=0.03045%*A1+MIN(23,0.0115%*A1)

Buy side expenses (BSE)

=0.00545%*A2+MIN(23,0.0115%*A2)

A1 is the selling turnover cell.
A2 is the buying turnover cell.

Final profit figure = A1-A2-SSE-BSE

The broker's final figures will be slightly different as brokers round off charges.
 
#5
I think these charges are for intraday. For Delivery the brokerage is 0.1% or Rs 20 whichever is less. Other charges are same. I think sell side some demat charges are applicable, but dont know exact charges. For me first five trades in the month are free. I have an option to switch to unlimited delivery free but I have not opted so far as I am not using this account. I did only 3 trades so far in RKSV(1 delivery, and a Intraday(counted as 2 trades, 1 for buy and 1 for sell)
 

Alchemist

Administrator
Staff member
#6
If there is a referral benefit, share your referral id.
I am not sure, but I think the customer ID is the referral ID too.

Mine is 286941

I think these charges are for intraday. For Delivery the brokerage is 0.1% or Rs 20 whichever is less. Other charges are same. I think sell side some demat charges are applicable, but don't know exact charges. For me first five trades in the month are free. I have an option to switch to unlimited delivery free but I have not opted so far as I am not using this account. I did only 3 trades so far in RKSV (1 delivery, and a Intraday (counted as 2 trades, 1 for buy and 1 for sell)
Aren't all delivery trades free at RKSV?

The advertise "Free stock trading for life. Stop paying for your trades".
 
#7
Aren't all delivery trades free at RKSV?

The advertise "Free stock trading for life. Stop paying for your trades".
Yes it is unlimited free delivery trades now. But earlier it was first 5 trade free. I can anyway switch to unlimited free delivery trades, but as my trades are less than 5 per month, my existing option is more beneficial as intraday is also free.
 
#11
Right now, I am trading with both RKSV and Kotak.

I find Kotak's KEAT to be much more user-friendly than NEAT.

NEAT is faster. There is a small lag in KEAT and KEAT's data gets stuck sometimes too.

Upstox's web interface (https://pro.upstox.com/) has many charting tools, but again is not very user-friendly.
Thanks for the info. I intend to use it for delivery transactions. I had ICICIDirect which I closed recently. Using zerodha for other trades (which is very rare anyway for last few years).

Just wanted to get the opinion on what happens when the brokerage house shuts down? I mean how the demat account gets affected? I think since the demat a/c will be with CDSL/NSDL, so it will be pretty safe?
 

Atiker

Active member
#12
Thanks for the info. I intend to use it for delivery transactions. I had ICICIDirect which I closed recently. Using zerodha for other trades (which is very rare anyway for last few years).

Just wanted to get the opinion on what happens when the brokerage house shuts down? I mean how the demat account gets affected? I think since the demat a/c will be with CDSL/NSDL, so it will be pretty safe?
icicidirect - brokerage charges are very high, at times with STCG tax, the real profit becomes negligible.

Zerodha though has negligible brokerage, the yearly amc charges are a pincher.

Upstox appears good for the purpose of opening demat account on family members name, which will be used only for making multiple ipo applications.
 

Alchemist

Administrator
Staff member
#13
Just wanted to get the opinion on what happens when the brokerage house shuts down? I mean how the demat account gets affected? I think since the demat a/c will be with CDSL/NSDL, so it will be pretty safe?
When a DP shuts down, NSDL/CDSL asks its account holders to move their shares to another demat account or to remat the shares.

A demat account with holdings cannot be closed.

Many investors who are holding shares of delisted/defunct companies are not able to close their demat accounts because they don't know what to do with those shares. :motz:
 
#14
icicidirect - brokerage charges are very high, at times with STCG tax, the real profit becomes negligible.

Zerodha though has negligible brokerage, the yearly amc charges are a pincher.

Upstox appears good for the purpose of opening demat account on family members name, which will be used only for making multiple ipo applications.
What's the risk you see in keeping your long term cash trades with Upstox or Zerodha?

My real question is: People seem to have high faith on ICICIDirect when it comes to keep their shares for long term. Why so? In any case, the demat account is always with NSDL/CDSL.
 

Alchemist

Administrator
Staff member
#15
My real question is: People seem to have high faith on ICICIDirect when it comes to keep their shares for long term. Why so? In any case, the demat account is always with NSDL/CDSL.
That's because an online broker has a POA (Power of Attorney) to operate demat account on behalf of his client.

Whenever shares are sold and marked for delivery, the broker takes the shares from the DP and passes them to the exchanges for settlement. This is not possible with giving POA to the broker.
 
#16
That's because an online broker has a POA (Power of Attorney) to operate demat account on behalf of his client.

Whenever shares are sold and marked for delivery, the broker takes the shares from the DP and passes them to the exchanges for settlement. This is not possible with giving POA to the broker.
Ok. So here is my understanding after a bit research and how to protect our demat account.

1) POA is required only to sell your shares. i.e. Your brokerage house will be able to debit the shares from your demat account as mentioned above only if you have signed the POA.

2) Freeze the Demat: NSDL and CDSL both offers this freeze option which can be used for either few selected stocks or for the whole account. Freeze can be done on either Debit, credit or both. This is an excellent feature for high value holding in demat a/c for peace of mind. The option can be exercised by requesting to your DP. Oh and you can also specify the expiry date for the freeze option!

3) Opt for SMS and check the account independently with CDSL/NSDL.

Any other info, please update or correct me if I am wrong with the above information.
 
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