Zerodha - Number One Discount Broker in India

deba72

Well-Known Member
Answers:
1. As per http://wisdomcapital.in/faq-safety-of-funds/ the directors mentioned are: Mrs Sudeshna Mukherjee and Mr Pralay Shankar Chakraborty are Directors/Owner of this Company among others.

2. Wisdom Capital seems to be sub-broker if i'm not mistaken. They partner with other brokers, eg Aliceblue, F6Finserve etc. so their names might not be in the NSE/BSE websites

They surely are registered with SEBI: SEBI Registration Numbers : NSE CM : INB 231467334, F&O : INF 231467334 • Dated : 25-10-2012, CDS : INE 231484739 • Dated : 17-04-2013.

3. I'm assuming (could be wrong) that after breaking up with F6Finserve, their analysis portal is not being updated. But, I so far have not seen any reports in newspapers that their clients have been duped.

If i'm not mistaken, their sister concern DPL Online now. DPL Online is quite active on TJ as well.. Rs 999 p.m. unlimited trading + DP a/c free.

Forget Wisdom Capital and DP Online... even SAS Online offers UNLIMITED trading per month @ Rs 999 + DP a/c free.

Please Note: I'm NOT trying to promote Wisdom Capital or DPL online. I'm just asking why not match those rates. I'm sure its feasible if one can offer those then why not the other. :):)
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1. Mere names are not enough. Why there is no section like "About Us" where details about promoters/managements are mentioned ?

2. Is there any mention in their website that they are sub-broker and also did they mention who are their principal ? If not, this is a serious violation and a case of misrepresentation. I don't think SEBI/NSE/BSE rules allow sub-brokers to pose as brokers.

3. Mere assumptions are no good. There need to be some concrete reasons.

So the doubts remain. Pricing is not everything. More important for retail traders and investors are safety and security of their funds.

All traders should do a detail check about the broker they are interested to open account with and should not only look at fancy pricing.
 
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Hello Zerodha,

Can your rates offered by Zerodha beat those of Wisdom Capital ? :thumb:

Wisdom Capital offers 4 different plans to suite your trading needs:

Rs 9 per trade Plan
This Wisdom Capital trading plan offers trading at flat Rs 9 per trade irrespective to the size of the trade. The brokerage is charged at Rs 9 per executed order. Trading is available at NSE and MCX stock exchanges in equity, commodities and currency derivative segments.

Rs 999 per month Plan
This trading plan offers unlimited monthly trading at flat Rs 999 per month per segment.

Rs 5555 per year Freedom Plan
This plan offers unlimited trading for flat Rs 5555 per year. Rs 5555 is the trading fee for one full year unlimited trading with unlimited exposure. Additionally you will get free demat account for one year absolutely free. This plan best suits to active traders.

Rs 9999/Segment Lifetime Freedom Plan
This plan offers unlimited trading for life time. 9999/- is the trading fee for lifetime unlimited trading with unlimited exposure. Additionally you will get a demat for lifetime absolutely free with this Plan.

Kindly respond Zerodha ....
I thought you were talking earlier about why "serious traders" shouldn't be trading with Zerodha, & then you offer some little known sub-broker as your alternative? Really? While you have raised some valid concerns about the issues faced by Zerodha-clients, I doubt that most "serious traders" would want to park a significant amount of their trading capital with some little known sub-broker just for the sake of saving a little bit of brokerage. Like deba72 has said, safety & security should be our main concern.

Others might have their reasons but one of the main reasons that I decided to open an account with Zerodha apart from their pricing was that they come off as genuine & honest. I had read horror stories about people having to cough up thousands of rupees on a single trade due to weird brokerage rules, about unauthorized trading & what not, so transparency & genuineness were/are very important to me, & after more than a year of trading with them, I can't say that I've seen any shady business from them. Sure, there are areas where they definitely need to up their game, & if they don't do that or if they become complacent then I'll leave them but for now, I'm hopeful that they are trying to improve as much as they can.
 
Why Qunta is not showing data after 13th July,
Also Q-Back office, P&L is not working properly?
 
dera zerodha ,

why it shows inflated account value in q.backoffice.. kindly fix this problems as soon as possible
 
Hi,

Today's big problem in Pi...

Since morning, Pi is giving "Incorrect transaction password". Tried changing again the same problem. Called up support and the support guy informs that they have updated pi. I need to update the current version and it should get resolved. As per him, in new Pi version, there is no need for transaction password.

Updated Pi and confirmed that there is no transaction password.

But there is no intimation from Zerodha for the same. Lost time in morning and trades also...
After update, the update feature list is as follows, ironically no mention of this change.

Features introduced in this release of Pi(Dated:07/18/2016):

1. Multiple MW (Shortcut Ctrl+W ,upto 250 scrips,50 by default).
2. Find Symbol to add multiple scrips in market watch (Shortcut Ctrl+F).
3. Chart Toolbar changes
a)Change Time frame to any periodicity (Min<->Hour<->Daily).
b)Duration added in Chart Toolbar (Days for Min/Hr and Years for Daily).
4. New indicators introduced:
a) Supertrend Indicator
b) Donchian Channel Indicator
c) Average True Range (ATR)
5. Edit Chart Tools on double and right click (Color/thickness).
6. Option Calculator (Shortcut Ctrl+O)
7. Layout Saving (Except Charts).
8. Addition of scrips from Default Workspaces and MW in Scanner.
9. Cover Order with Limit entry option.
10.Hide/Show Connection Logs on Default Market Watch (Shortcut Ctrl+Shift+W).


Don't know what to make out of this.
 

cloudTrader

Well-Known Member
@ Zerodha,

I was waiting for your 5th contest of articles to be announced on 23rd July but you have not still closed the 4th contest as was given on the Contest page so there is a confusion that have you ended the contest spree ?

Unfortunately I got to know about this contest on 23rd itself that was the announcement day for the 4th contest. So will you bring on the next question?

Thanks.
 
Zerodha ,

I wanted to change my primary bank a/c from corp to sbi.
I have recently opened SBI a/c about 3 months now. Can I change my existing CORP bank savings a/c to this new SBI bank a/c. I have updated passbook, micr cheques , and also savings in SBI a/c.

When I opened trading a/c with zerodha in 2012 , i think they told that passbook must have latest 6 months entry cant remember exactly..

What is the pre requisite to change bank a/c registered and how ?

Thank you
 

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