Mumbai, India (PressExposure) June 11, 2013 -- MCX Trading To Be Provided To Clients
Mumbai, June 11, 2013: One of the fastest growing discount broking firms in India, RKSV Securities has now ventured into the commodities market. This will enable its users to trade in commodities on the Multi Commodity Exchange of India Ltd. (MCX). The company known for introducing some of the most economical trading schemes and flat fees in the Equity and Currency trading segments announced unmatched pricing schemes for trading commodities on the MCX today. To mark this new development they are also offering free account opening for customers signing up for Commodity trading until June 30, 2013.
RKSV Securities announced two online trading plans in this segment. The first is a 2999 Commodities Freedom Plan which is a flat, one time monthly fee plan of Rs.2999 devoid of any brokerage. A Revolutionary plan unlike any other, traders can do unlimited trading on commodities for a fixed monthly fee. The 2999 Commodities Freedom Plan is similar to the 1947 Equity Freedom Plan and 999 Currency Freedom Plan, presently being offered to traders for trading on Equity and Currency segments respectively. It allows unlimited commodity trading through the month and offers a full refund for any month that a customer chooses not to trade. Simultaneously, the firm is adding commodities as a segment to the existing Dream Plan: traders are charged a maximum of Rs.25 per order traded. The Dream Plan is more suitable for an investor or a novice as it caps the cost at Rs.25 with a minimum of 1 paisa brokerage per order traded irrespective of the quantity of order placed. So whether one trades one lot, 100 lots or even 10,000 lots the maximum cost incurred will not exceed Rs.25 for that order. The Dream Plan allows trading on Equity, F&O, Currency and Commodities.
"This is a major development for us. Many of our customers have been asking for the facility to trade commodities on a pricing model similar to our Freedom Plan and Dream plans, and now they will be able to do exactly that. It has been one of our goals to provide our clients with affordable, low cost trading options across all major segments under one roof. This not only makes it convenient for the trader to consolidate all their accounts but also for us to provision the best and lowest monthly fee for them," says Mr. Raghu Kumar, Co-founder, RKSV Securities. With the recent fluctuation in Bullions, especially Gold and Silver, trading volumes have shown a visible increase. Commodity markets provide traders the flexibility to quickly mark their positions and exit. Also, besides trading in metals, traders who have special interests in certain specific commodities like energy and petrochemicals can choose to trade in these. RKSV's Commodities Plan will offer all non-agricultural commodities in its fixed monthly fee plan.
"RKSV Securities is focused on making cost-effective, efficient and technologically advanced broking services viable for retail traders. The popularity of our schemes is evident by the fact that within two years of inception, we joined the exclusive club of brokerage houses that have crossed daily exchange turnover of Rs. 3000 Crores. Our entry at MCX will be marked by a substantial cut in brokerage fees and thereby making commodities trading more lucrative than ever before," concludes Mr. Kumar. About Multi Commodity Exchange of India Ltd: Multi Commodity Exchange of India Ltd. (MCX) is an independent commodity Exchange. It was established in 2003 and is based in Mumbai. Globally, MCX ranks #1 in Silver and Gold, #2 in Natural Gas, and #3 in Crude Oil, and overall the 3rd largest commodities exchange in the world in terms of futures contracts traded. More than 40 commodities are offered on the exchange, including bullion (such as gold and silver), metals, crude oil, agricultural products, and others. Also, MCX holds over 85% of the market share of the Indian Commodities Futures market.
RKSV Securities is an innovative discount broking house that is spearheading the online retail trading space in India. With memberships at all the principal exchanges in the country, including the National Stock Exchange, Bombay Stock Exchange, and Multi-Commodity Exchange Stock Exchange, the firm offers pricing plans across the Equity, Futures & Options (F&O) and Currency Derivatives segments. RKSV Securities comprehensively covers the participating need of retail traders in India and is quickly emerging and one of the leading discount brokers in the country.