Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
Chart should be adjusted fast as well as the change in % as adjusted on economic times website chart...
My personal experience with Zerodha is that Zerodha attracts the college student and other newbies with low pricing. That's all they have to it.. once you dig in more details and find out that you have lost, only then you would realise the big mistake you made by sticking with zerodha.
Bracket order has been introduced recently in Kite.. after several months. .. I doubt that a basic technology (offerered by Sharekhan since a long time) to be brought by Zerodha takes such a long time.
There are data issues in intraday and basically I understood that intraday trades will often remain unexecuted, executed later, etc. Placing a market order with a discount broker can be disastrous.
When you speak to the Marketing team/ Account Opening Team, they say all facilities are available. Autotrading is part of the facility and thats why so many are opening their account with Zerodha; however, once the account is opened and their meter is running... they say that the best that can be offered to retail trader is semi automated trading along with additional monthly costs (Rs 500 PER MONTH for a pi-bridge plugin) and Rs 2000 PER MONTH for kite API enabling. The rest you have to figure out yourself, they will only enable it for you at their end.
Summary is .. zerodha is like a "TEST" trading account.. but for serious trading over Rs 2 lacs capital .. it is a Strict NO NO...
Thank you.
Bracket order has been introduced recently in Kite.. after several months. .. I doubt that a basic technology (offerered by Sharekhan since a long time) to be brought by Zerodha takes such a long time.
There are data issues in intraday and basically I understood that intraday trades will often remain unexecuted, executed later, etc. Placing a market order with a discount broker can be disastrous.
When you speak to the Marketing team/ Account Opening Team, they say all facilities are available. Autotrading is part of the facility and thats why so many are opening their account with Zerodha; however, once the account is opened and their meter is running... they say that the best that can be offered to retail trader is semi automated trading along with additional monthly costs (Rs 500 PER MONTH for a pi-bridge plugin) and Rs 2000 PER MONTH for kite API enabling. The rest you have to figure out yourself, they will only enable it for you at their end.
Summary is .. zerodha is like a "TEST" trading account.. but for serious trading over Rs 2 lacs capital .. it is a Strict NO NO...
Thank you.
I beg to disagree here on your summary.
Yes, there may be issues with them but saying that it is not for serious traders is a bit exaggerated.
In discount brokers Zerodha and RKSV are best in the industry and can match any top broker on reliability and credibility of services. Infact because of these two brokers, the ecosystem of discount brokers has been acknowledged by Trading Industry.
Though I am a new trader and learning each day on their software, and still I can tell you that a good trading software and data is important but that is NOT the ONLY thing that makes you a Winning Trader.
It's like saying that, You can take good pictures only if you got a DSLR.
Yes, there may be issues with them but saying that it is not for serious traders is a bit exaggerated.
In discount brokers Zerodha and RKSV are best in the industry and can match any top broker on reliability and credibility of services. Infact because of these two brokers, the ecosystem of discount brokers has been acknowledged by Trading Industry.
Though I am a new trader and learning each day on their software, and still I can tell you that a good trading software and data is important but that is NOT the ONLY thing that makes you a Winning Trader.
It's like saying that, You can take good pictures only if you got a DSLR.
Dear Timepass, the 80x leverage offered by Zerodha has come down to 55x leverage as per my info at the time of this writing (July 2016) using Bracket/Cover orders. Why would anyone want to trade with such leverage with a discount broker and not have complete tools available to him, basically I would say zerodha is ideal for a newbie or a non-serious trader (or maybe someone who would be attracted to the high leverage only to cover the losses made earlier ... and hoping for the best)
For really making a profit in the stock market, no doubt fixed cists should be minimised but if there are issues with data quality or lack of available tools in the software, it is not worth saving a cent by losing a pound.. hope i'm clarifying my stand without sounding pessimistic. Thanks.
For really making a profit in the stock market, no doubt fixed cists should be minimised but if there are issues with data quality or lack of available tools in the software, it is not worth saving a cent by losing a pound.. hope i'm clarifying my stand without sounding pessimistic. Thanks.
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Thanks for commenting, what you mentioned probably explains it all. Being discount broker is where the issue is.. "you get what you pay for".. definitely cannot be compared to full brokerages like ICICI Direct and Kotak Securities... real professional brokers with all facilities and no hanky panky.
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