Is RKSV and Upstox Same or Different?
- Asked By
- Updated On:15-Dec-2020
- Replies:1
Short Answer
They are the same brand. There is no difference as since 2012, RKSV started offering retail broking. But in 2016, the company renamed itself Upstox. Every segment that Upstox has to offer is one and the same with the only different being in the name and nothing else.
Detailed Answer
RKSV and Upstox are the same. There is no difference whatsoever. However, it's important to note that RKSV is Upstox, and they have rebranded themselves to the name. Every company is looking for a new look or appearance to make them modern and feel more approachable. RKSV took the same initiative to offer more unique services, better customer care features, and more under their new name Upstox.
RKSV to Upstox - Reason Behind the Change
RKSV believed firmly that the company needed a substantial facelift to appeal to a greater audience. It wasn't only on paper but on the services and features they had to offer. For the same, they started targeting flat brokerage rates at 20 rupees with free equity delivery—quicker customer care responses with 30+ languages and less than 30 second waiting period.
However, the primary factor as to why the rebranding occurred was the trading software/tool. The company was hell bent on using a new software experience to provide a web-oriented trading tool and mobile software. It was to engage users in a whole new way of trading and getting the best experience possible.
The stock broker has rebranded itself but offering similar broking services. And thus, Upstox was born that encapsulated everything the company thrived on changing. It empowered many to use the platform and not think twice before choosing the platform. Moreover, Mr. Ravi Kumar, Mr. Shrinivas Viswanath, and Mr. Raghu Kumar took the initiative of rebranding RKSV to something approachable and convenient such as Upstox.
RKSV or Upstox - Is there any difference?
No, there is no difference whatsoever. The entire company has been rebranded to Upstox with newer brokerage fees, more unique trading tools, and much more. The brokers have compelling investors from the likes of Ratan Tata, GVK Davix, and many others.
Even if you compare the two side by side, the core necessary form and function are the same. Even the brokerage fees are similar. A few iterations might be different when it comes to the plans offered and the percentage taken with order delivery services. Everything else has been implemented in the same fashion as it was before but with a new name.
RKSV Securities Ltd. or Upstox
Though the two names are virtually one company, all of the attributes provided below are followed by the company and slight changes in the maintenance and rating categories. All of the categories in which the accounts are similar are provided below:
1.Brokerage plans
2.Plans types
3.Customer service
4.AMC
5.Trading platforms
6.Mobile app
7.Margin/exposure/leverage
8.Demat account
9.Investment options, and more.
It's important to note that the RKSV broker has been renamed as Upstox. All the accounts and trading options have moved under Upstox. Giving all the previously associated features and services but in a new alteration. To know more, customers can contact customer care to resolve any issues with the account or the features offered.
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Discussion (0)
Yes, the Indian discount broker is backed by Mr. Ratan Naval Tata. He held a 1.33% stake in RKSV Securities (popularly knows as Upstox) at the beginning of the year 2019. RKSV in RKVS Securities stands for the initials of the names of founders (RK for Ravi and Raghu Kumar, and SV for Shrinivas Viswanath).
Yes, Upstox is safe, good and a very reliable stock broker for trading and long term investing. Being registered with SEBI, NSE, BSE, MCX and CDSL the stock broker has built a good reputation and a decent customer base over the years.
Ravi Kumar, Kavitha Subramanian and Srinivas Vishwanath are the founders of Upstox . The company is also backed by a group of investors that includes Ratan Tata, Tiger Global, and other influential figures in the industry.
While looking for a discount brokerage firm for my requirements(Long term investments, intraday investments, F&O investments), I came across Wisdom Capital Discount Broker in India.
Demat accounts are not completely free in India. They come with different charges that are charged by the broker or Depository Participants (DPs). These charges vary from broker to broker and are charged quarterly or annually.
Talk of square off in Upstox or any other stock trading platform in India it points towards completion of your intraday transactions. Let's see how it is! The meaning of square off remains the same whether its Upstox or any other stock broker in India for that matter.
What happened, so you are looking to close your Upstox Demat and Trading Account? The reasons could be many and any. You are here means, you are searching how to close Upstox account. So, let's dig into the demat account closure process.
UCC ID in Upstox simply means Unique Client Code. Now, let's discuss all about UCC ID in detail. A unique ID for each client that can be used while you log in your Upstox account. Once you submit your application, and complete all the demat and trading account opening formailities, a UCC ID shall be generated for your individual account that's forwarded on your e-mail id and mobile number.
MTM in Upstox refers to "mark to market" and is used to determine the margin between the market value and the book value of an asset. It records the value of an account with respect to the change that takes place in its assets and liabilities due to price fluctuation in the market.
With every stockbroker, there are some advantages and disadvantages. The cons of Upstox are plenty but covers up through its advantages. However, its disadvantages are that the trade and call feature is charged 20 rupees, IPO & FPO investment opportunities are not available, under the delivery segment, GTC & GTD orders aren’t supported, etc.