What is this fee added to the future price ? Can someone explain ?
Can you identify this charge in your fees documentation ? Screen shot attached below.
Other than the fact that, this charge that your levying is not mentioned or documented anywhere, it also doesnât reflect on any of your system produced reports ( atleast the ones that I have seen so far ) . This absolutely feels scammy unless there is a good explanation. Waiting now to hear from you guys.
It is not charges , it is showing price upward movement of 762.0 (1.05%) , Total charges is 61.77 only
Thatâs what it looks like it in first go but itâs not true. Why is the margin so high then ? Compare the same product margin in Zerodha. They are adding this figure multiplied by the lot size to the margin. So effectively for a silver product of 30 kilos you end up paying this fee ( 762 * 30 ) while buying and your sell price if you are selling will be ( - 762 * 30 ) which means you ended up buying at a much higher price and sold at a much lower price. They are pocketing the difference without any intimation or documentation of any kind atleast in the website.
Why is no one from upstox support replying to this ?
Hi @Gautam_Anand,
We went through your messages and here are our observations regarding the same:
- Please note that +762.00 (1.05%) is merely the price change.
- The margin required isnât a cost paid; it is merely a required capital held in reserve to account for risk of downside movement.
- A competitor that is referenced requires slightly lower margin than us, but we are far lower than many other brokers.
- Also, what is actually paid by you as a transaction expense is the brokerage fees, charges, and taxes
- Lastly, as you can see in the screenshots attached below, we are actually slightly cheaper than the competitor you have referenced.
If you still have more questions, let us know. Thanks.
hi @Ushnota thanks for your response. I will evaluate my last month trades and get in touch on this again.
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Ok. So I just attempted to verify my own understanding on this from before and I believe something has changed from your end in the meanwhile.
For futureâs margin reservation is understood but nowhere in your system its easy or clear to validate the exact buy or sell price of a future when I execute an order.
As for Options, I see that you are not adding that figure you show to the buy or sell anymore though it was the case before I wrote this thread. I think it was an error that was noticed in the meanwhile and fixed which is appreciable. But what I would really need is a refund on my option purchases from before. I would like to come back to the platform if this is resolved.
thanks,
Hi @Gautam_Anand,
You can track the exact buy/sell price from the âPositionsâ tab where the avg buy/sell price is shown. â You can also check the margin required to buy any option from the required amount.
Refer to the below pictures for the same:
Also, rest assured, nothing has been updated from our end. Additionally, we cannot process a refund, thanks.
I didnt expect anything better. Last time too when it was wrong spot price you were very right all throughout. So its understood and I wont touch upstox again. But people going through these threads will do too. thanks to upstox team for everything. good bye