Pegging currency derivatives as the next big growth driver in the financial securities trading segment, RKSV Securities has introduced two new schemes in the market. The Currency 999 Plan and the Dream Plan are two flat fee plans that offer tremendous flexibility and value for money for traders and investors.
“These plans will not only attract new clientele for our firm, but will go on to attract new traders to the currency vertical. We have substantially cut down the brokerage fees and thereby made currency trading lucrative. What we lose in margins, we hope to make up in volumes,” disclosed Mr. Shrinivas Viswanath, Co-Founder, RKSV Securities, one of India’s leading online discount brokers.
“The last few years have been witness to a huge spike in currency futures turnover in India. Daily volumes at NSE moved up from Rs.16,200 Cr in the first quarter of 2012 to Rs.25,900 Cr in the first quarter of 2013, registering an impressive 60% year on year increase,” he added.
Ever since currency derivatives trading was opened to retail traders in 2008, the market size has been steadily increasing. Traders have been opting for the currency market because the margin money required is lesser than for equity derivatives. In addition, currency offers better liquidity and volatility spreads.
The Currency 999 Plan introduced by RKSV Securities offers unlimited trading across the NSE currency derivative segments (Futures and Options) for one low flat fee of Rs. 999/- per month. The customer can trade as many lots as he or she wants in a month with this one-time fee. It also offers the flexibility of not paying for the months he or she does not trade. The Dream Plan on the other hand allows customers to trade across all segments irrespective of the quantity of order for just Rs. 25/- per order. In addition, the Dream Plan charges the lesser of 1 paisa brokerage or Rs. 25 per order- whichever is lower.
Currency trading, as the name implies is literally the buying and selling of various currencies including the INR, USD, EURO, GBP, JPY to name a few. Conceptually, considered as a hedging tool, currency markets have opened up a new avenue for traders to speculate on price differences in multiple currencies and a better prospect of earning profits.
About RKSV Securities: 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.