Raised the issue some 6 days back. Still got no response from Upstox team.
If this is the kind of response and service the customers are getting, then we have no other option to switch to other brokers.
Hey @sundaresan_s, SGB FEB isnāt currently on the exchange approved list, so we have not added it as per our RMS Policy. Please check back in April when it may be included.
Thank you for your understanding.
Hi,
If SGB FEB isnāt included in exchange approved list, then how zerodha is allowing pledging for the same.
If you are having doubt about the screenshot I have uploaded earlier, kindly go through the link Iām sharing below and check for yourself in the zerodhaās website.
If one broker is allowing pledging for SGB FEB series, why the other broker is not able to do so.
Iām not here to blame any broker. I just need my fund in SGB as margin to trade.
Kindly check at your end and initiate the process of updating the allowed scrips.
Hi @sundaresan_s ,
Please note, it totally depends on brokers discretion and as per our Risk Management System (RMS) policy, it will be available once we receive the same in the exchange list. We appreciate your patience and understanding.
I cannot see margin option in my govt securities
Hi @Sandip ,
We are here to help you. Could please let us know where are you checking this and for which stock/government security you are checking this? Also, share your UCC or ticket ID with us so that we can check this. If you donāt have a ticket yet, you may raise it here: https://uptx.to/tikt Thanks.
Hey @sundaresan_s ,
We are pleased to inform you that SGB FEB is added to the list.
Yes sir. Thanks for the response from your team. It got updated. I have pledged the same. But the same is reflecting in collateral margin and not in cash margin.
Will I be charged interest for that?
Hi @sundaresan_s, we would like to share with you that cash margin and collateral margin are two different margins. Let us understand it in detail.
Cash Margin is the trading margin available to a trader in the following cases: When you add funds or withdraw funds from Upstox. When you sell your position or holdings, the margin will be added to the cash margin according to the settlement cycle.
Collateral Margin is the additional funds you receive for trading or investing by pledging securities held in your Demat account. This amount is made available for trading in Futures buying and selling as well as Options short selling.
Collateral margin includes cash equivalent + non cash equivalent and Cash Equivalent will be treated as Cash margin in case of shortage of funds and only if Margin shortage arises after consuming Cash Equivalent is when interest will be charged on the Margin shortage amount. You can visit the link : Breakdowns of the terms in the āFund/ Walletā page. - Upstox Help Center to know more about breakdown of funds in wallet page. Also, you can visit : How to check the updated margin after placing a Margin Pledge request? - Upstox Help Center and Margin Pledge Policy and FAQs - Upstox Help Center for more information on margin pledge policy.
If you have any further questions or concerns, please donāt hesitate to let us know.