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FAQs.
Here you'll find answers to frequently asked questions about our company and services.
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What is UpperCircuit?Upper Circuit is a Simulated / Virtual Trading Platform, offered for all types of traders to help them trade without risking their own capital. We make sure to reward consistent traders by giving Real-Money Payouts on the profits they make. Our aim is to provide traders an opportunity to trade & improve their trading skills.
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How does it work?Steps to start trading on Upper Circuit & get Real Money Payouts: 1. Browse through the different plans we offer & select the one which suits you the best. 2. Purchase the plan by making the payment. Within 24-48 Hours, you will receive credentials on the email ID provided while making the purchase. 3. There are 2 types of accounts- Demo & Prime. Demo accounts are the ones where you need to first achieve the target on the trading platform by making sure all the rules are followed. Prime accounts are the ones where you can apply for Real-Money Payouts for the profits you make. 4. There are 2 different types of plans with multiple options for starting balance - Evaluation & Rapid. In Evaluation, You will start with a phase 1 account, which can be upgraded to phase 2 account which can be upgraded to Prime account if all the targets are met and no rules were broken. Rapid plan directly starts with a Prime account. 5. Once you complete all the targets and are eligible for payout, you can apply for it through the Web Trader. Our team will then analyse your account and process the Real-Money Payouts to the Bank Account Details provided. 6. Payouts will be processed only after the KYC & Bank account verification. It generally takes around 5-7 Business days.
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Who can buy the membership plans?Since it is a Simulated Trading platform, there is no age barrier to start your journey with us.
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Which markets are covered?Initially we have launched Indian Stock Market on the platform consisting of large caps, midcaps & indices. We have plans to get commodities, crypto & forex Market on the platform as we grow. Trading for Indian Stock Market starts at 9.16am to avoid manipulation
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Is TDS applicable on payouts?Yes, 30% TDS is applicable as per Indian Tax Laws. TDS will be deducted and deposited in your respective tax account.
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How long is the trading cycle?Our general trading Cycle is of 30 Calender days, starting from the first day you take a trade from your account. There is a rule of 5 minimum trading Days as well in all our plans. This is to make sure traders are consistent & disciplined. Since its 30 calendar days, all the holidays and weekends will be included as well.
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Leverage & Margin usedWe have 1:1 trading leverage on the trading account balance, but we provide 100x the balance for the membership fees paid. For example, if you have 15,00,000 trading account, and you wish to buy 100 shares of Reliance.x whose current price is Rs2500. Margin Used will be 2500 X 100 = 2,50,000
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What is the maximum capital I can trade with?There is no limit to the number of accounts you can purchase under a single email ID. Total balance of all the prime accounts cannot be more than 30,00,000 at any given point.
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What are the types of trades i can take?You can take both buy & sell trades. Margin used for both side is the same to make sure there is parity between number of shares you can buy or sell. Example, for 2500 shares of Reliance.x, you can buy or sell both at a margin requirement of 2,50,000
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What is Account Liquidation?Account Liquidation means the account will be no longer active for trading due to breach of one of the trading rules. Our rules are very straightforward and necessary for a trader. If you feel you have not breached any rule and account was wrongly liquidated, please reach out to customer support orders@uppercircuit.in from your email ID and do mention the account number as well. No payouts will be issued for liquidated accounts
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Do I need a DMAT Account to sign up?No, since we are not actually in the business of facilitating share buy or sell, there is not requirement of DMAT account at UpperCircuit.
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What are the trading hours?Indian Stock Market starts at 9.15am till 3.30 pm from Monday to Friday. Hence trading will be active for those hours only or any other special time as decided by the Stock Exchange
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What is the max profit you can make on a Prime Account?Max profit eligible for withdrawal is 100% of the starting balance. Above that you can still trade but payouts will be calculated on max 100% of the starting balance
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Is there any limit number of payouts?One user can take unlimited payouts. However, Rapid and Evaluation plan both have limits on how many payouts can be taken on one account.
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Is Stop Loss mandatory?No, putting a Stop Loss to your trades is not mandatory but recommended for a disciplined trading process. We are trying to replicate exact trading conditions for our traders and hence there is no restriction which wouldn't be on the real capital markets.
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Can I short or sell a stock without buying first?Yes, short selling is enabled. Margin requirement will be the same as buying the stock to make sure there is parity in quantity.
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What (stocks) can trade on the platform?Here is the list of 900+ instruments available on platform on which you can trade
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What if account is in profit but daily loss limits are breached.Any type of account, in profit if hits daily loss limit, the account will be liquidated. For example, if you have a 15,00,000 phase 1 account, and you are in 1,00,000 Profit, if on any single day you incur a loss of 80,000 (i.e. greater than 5%), the account will still be in profit but since the daily loss limit is hit, the account will be liquidated and trading will be stopped. Once a loss limit is breached, account will be considered closed. Recovering the account or getting back the loss won't matter. For the same, both realised and unrealised losses will be considered. Note: It is possible that account doesn't liquidate automatically in real time as we are still building our systems, but during payout, entire tradebook will be analysed and accounts will be liquidated if loss limits are breached.
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What is a Glitch Trade?All the trades taken which result in either deviation from the real prices or result in usage of extra margin than allotted is a glitch trade. 1. There might be some difference in display price on our platform & the real price of the ticker. This can be due to various reasons like slow net or mobile device capacity. Your trades will always be executed at the REAL PRICES of the ticker, always. If there is a difference, its a glitch trade. 2. You have a proper margin and opening balance that is updated on closing every day. If you are able to use margin beyond that, its a glitch trade. 3. All your limit orders and Sls will be executed at real prices. If it doesn’t, thats a glitch trade. Any profit or loss generated by the glitch trades are not eligible for PAYOUTS. So if you come across an such trade, reach out to our customer chat support to get it fixed and avoid delays in your PAYOUT. Not updating your APP caould also result in glitch trade. Ultimately invalidating the payouts
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What type of trading strategies are allowed?Swing, Intraday and all other types are allowed. Trading strategies which are not allowed are as follows: 1. Hedging - hedging is not allowed within an account and or by using multiple accounts. 2. Scalping - Since we don't charge any brokerage or fees on trades, scalping is not allowed. 3. Algo / Bot trading - We only promote disciplined trades, hence we don't allow algo trading Scalping is considered in the original definition - entering and exiting trade quickly with a motive to make profits just off of the price difference. Its advised to hold the trades for at least 5 mins to avoid being ineligible for payouts. Continue to keep trading using disallowed strategies will disqualify your account. So please make sure to follow rules Scalp profit will never be counted while calculating eligible payout profit.
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Can illiquid stocks be traded?You can trade in illiquid scripts or scripts which are hitting upper or lower circuit but in real market there is no liquidity for that script, it will be counted towards your profit during payouts only if the entry was before the circuit hit or stock becoming illiquid. This above list also includes restricted scripts by NSE/BSE/SEBI For trades like these, it will require in-depth analysis of the trade book and it might take time for a response. Management holds the right to decide the eligibility for payout on case to case basis making sure it a level playing field for all. It will be best if a trader avoids these scripts for surety of their payouts. PS: Illiquid or circuit scripts change everyday depending on market conditions. It is advisable to look at volume indicator on tradingview or your charting platform to figure it out. It is possible that the stock might not be in any circuit but still remains illiquid. As a thumb rule, please make sure 1 minute candle volume of the stock is more than 5 times that size of your trade to be on the safer side.
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What is consistency rule?Consistency Rule: For payout eligibility, number of trades or volume in one script to not be more than 30% of total volume/trades.
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What is the Evaluation plan?Evaluation plan is a Big Capital consistent trader plan. Here the amount of starting trading balances are big, but you need to prove yourself as a trader before you get the Prime account. After you purchase the plan according to your balance requirement, you will receive the credentials for your Phase 1 account via email within 24 hours. You can use these credentials to log in on the Web Trader through your computer/mobile browser or the Upper Circuit Trading App on your phone.
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Targets & Trading Days for Phase 1 AccountThe profit target for the Phase 1 account is set at 10% of the starting balance. This target must be achieved within a 30-day trade cycle, starting from the day of the first trade. For example, if you opt for a trading balance account of 15,00,000, your profit target will be 150,000, making your account balance 16,50,000. Profits will always include unrealized profit/gain on open positions. Once you achieve the target, please close all positions and apply for an account upgrade through the WebTrader. After thoroughly analyzing your account and ensuring all other rules were followed, our team will provide the credentials for the Phase 2 account. Minimum Trading Days: 5 Maximum Trading Days: 30 If you achieve your profit target and have completed the minimum trading days, you can apply for an account upgrade immediately. There is no need to wait for the 30-day trading cycle to conclude.
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Target & Trading Days for Phase 2 AccountPhase 2 Accounts have a target profit of 5% on the starting balance. For example, if you get a 15,00,000 Balance Phase 2 Account, your target profit is 75,000 to be achieved with in 30 Days of taking the first trade. Once you achieve the target within given time, you can apply for account upgradation to Prime account provided none of the rules were broken. Please make sure to close all the positions before you apply for account upgradation. Minimum Trading Days 5 Maximum Trading Days 30 If you achieve your Profit target and Minimum Trading days are over, you can apply for upgradation of account right away. Don't need to wait for 30 day trading cycle to be over.
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Target & Trading Days for Prime AccountsThere are no Profit Targets set for Prime accounts. You can make as low as 2% profit or as high as 50% profit in a 30 Day Trading Cycle. As 30 Days are over, you can apply for Payouts if your account is in Profits and none of the rules are broken. Real Money Payouts on Prime Accounts are fixed at 75% of the profits made. Once you apply for Payouts, it will be processed within 5-7 Business days after due diligence and KYC Verification. Minimum Trading Days 5 Maximum Trading Days 30 You can apply for Payout only after 30 day Trading Cycle. Example: If you are trading with 15,00,000 Prime account and made a profit of 10% i.e. 1,50,000. After 30 Days has passed and all the rules are intact, you can apply for Payout. Real Money Payout Calculation: 1,50,000 x 75% = Rs. 1,27,500 will be paid out to your bank account after due process.
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What if the account is in profit but did not reach profit target?If your Phase 1 or Phase 2 account is in profit but you are unable to reach the profit target within the 30-day trading cycle, your account will reset to the original starting balance at the end of the 30-day period. If you have a Prime account, there is no profit target for the Evaluation Prime account. You can withdraw your share of the profits once the 30 days are completed.
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How many payouts can i take on single evaluation prime account?On 1 Evaluation prime account, you can take payout 2 times max. After that you need to sign up again.
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What if my target is achieved but minimum 5 days trading is not completed?If your target is achieved in Phase1 / 2 account and 30 days trading cycle is also over, but 5 Days minimum trading has not been done. The account will be active till you complete minimum 5 trading days or reach the loss limits, whichever happens first.
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What if my account is in overall profit but I hit Daily Loss Limit?If the daily loss limit is reached, the account will be automatically liquidated. For example, if you have a 15,00,000 phase 1 account, and you are in 1,00,000 Profit, if on any single day you incur a loss of 80,000 (i.e. greater than 5%), the account will still be in profit but since the daily loss limit is hit, the account will be liquidated and trading will be stopped.
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What if the account is in loss and trading days are over?If your Phase 1 or 2 account is in loss, but did not able to reach loss limits within the 30 Day Trading Cycle, your account will be liquidated at the end of 30 day period. If you have a Prime account which is in loss, you can keep trading till it reaches the loss limits or it comes in profit and then you can apply for payout since 30 day limit is not applicable for Prime Accounts.
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Till when can I hold open positions?Evaluation Plan accounts are weekly closing accounts. All the open positions will be closed on Friday after the market closes and profit and loss will be calculated accordingly.
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How many accounts can I buy under a single email ID?There are no restrictions to the number of account you can purchase but there is a limit of 30 Lacs for the Prime Accounts associated with your email ID. For example, you can have 10 x 5,00,000 accounts in Demo Phase accounts, but maximum 6 x 5,00,000 accounts in Prime. If you have more Prime accounts, the latest one will be paused for trading till you breach any of the existing accounts.
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