Zerodha - Number One Discount Broker in India

[Trade2Learn]

Just spoke to Mr. Bharath from Zerodha for around 40 minutes. He explained me how these COs got executed actually. All is well that ends well


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Do not know why the links are not working after a while. Here posting them again for those who want to see it.

http://www.imageurlhost.com/images/bbfu82hfwaf7p1hh7yfy_Cash-Limit.jpg

http://www.imageurlhost.com/images/r81riddpf4jjsij3l5jc_Order-Book.jpg

http://www.imageurlhost.com/images/7nrdrcqkelkb7dxt1v4r_Trade-Book.jpg

http://www.imageurlhost.com/images/d0pfiwj60c8qljspyuv_Admin-Note.jpg

http://www.imageurlhost.com/images/41ewk7pbltk2fdy2hr4_Contract-Note.jpg

U mentioned this in the post
"
I had a margin of 7786 rupees on Nov. 28th. (see this screenshot of Cash Limit http://www.2imgs.com/28995872a1 ) I knew one lot of Nifty futures can be bought with this amount using CO. At that time, according to Zerodha's margin calculator here http://zerodha.com/margin-calculator/Futures/ , the exact amount required to buy one lot of Nifty futures using CO was 7732.

So when I placed a buy order (@6105) of Nifty futures (Note: this was my first trade of the day. Before this, I have Not done Any trade. So No question of using my transaction password) and checked my order book, I got spooked to see that the order book is showing three already completed orders "

Hey as far i understood u mentioned that u had 3 orders executed bfore u made the trade.Now u r saying that u understood how the cover orders are executed.
Can u explain what was the issue ??

 

[Punter786]

So the net result after so many posts alleging mis conduct on part of Zerodha are now resolved, all in Zerodha's favor.

Kudos to them for spending hours explaning how orders are executed. Some other broker would have emailed an account closing form instead, and send the mails sent to him with the complaints to the trash box.

It was Not merely about 'explanation" of COs. If you care to check the screenshot links you will find there were legitimate doubts.

Anyway can you figure out from those screenshots that what actually had happened there??

 

[amsin21]

Yesterday I thought of not posting the screenshots / email conversation (name of executive removed purposely) for wrong chart data, but posting as I got irritated by the simple irresponsible reply from Zerodha executive. Posting for the Traderji traders who are on Zerodha platform, advising to take care and always double check the data reliability before execution.

Chart issue : Day 29 missing / wrong volume / wrong pivot,support,resistance

Nest with day 29 missing / wrong volume

ODIN with correct data

Wrong pivot / support / resistance

ODIN with correct data / opening / volume

MCX bhavcopy

Email conversation
Seems Zerodha executive doesn't know what a client is trying to communicate.

On Mon, Dec 2, 2013 at 12:11 PM, Me wrote:
Dear Zerodha,
Good day.
For me it's very sad to say that I'm really pissed off with the data integrity you guys are providing. I'm not sure how others are doing. Please find attached, the screenshots from ZerodhaTrader V3.10.57.100.11 and ODIN. Also attached are the data table from NEST for time frames 60 minutes and daily.
Regards,MeClient ID: xxxx

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On Monday, 2 December 2013 4:52 PM, Zerodha <[email protected]> wrote:
Dear Me,

As per your attachment we checked the information and see that you have taken the information for two different dates i.e you are comparing 29.11.2013 with 02.12.2013 which will definitely have difference in the opening prices.

We suggest you to check the attachments again sent by you.

Any queries kindly write to us.

Regards,
Removed

#175/175, 2nd Floor, Bilekahalli
Bannerghatta Road, Bangalore - 560076
Talk: +91-80-40402020
Z-Connect Facebook
Sharing Market Knowledge

-------
Me
To [email protected]
Dec 2 at 4:59 PM
Forget it as even you are not getting the point. Account closure requested to Mr. Hari.

 

[Trade2Learn]

It was Not merely about 'explanation" of COs. If you care to check the screenshot links you will find there were legitimate doubts.

Anyway can you figure out from those screenshots that what actually had happened there??

Sorry i m not so intelligent pls explain.

 

[prabit]

zerodha,
I have been with icicidirect, indiabulls, motilal, raligare, sharekhan. Never faced any technical issues, even with now software I don't remember any technical issue. Now there are other discount brokers coming up, so low brokerage is no more is an issue. But technology is a major issue. Instead of struggling with ztrader, high time you dump it, go for an established and reputed software. You are attempting many innovative things( eye catcher), but basic thing "technology" is weak. I say this, because I need a smooth software and I want to continue with zerodha.

 

[Punter786]

Sorry i m not so intelligent pls explain.

That was in response to our smart-alec friends here.

You have a legitimate query. They talked about logs etc.

And gave me a demo through remote connections on how those trades happened. In reality, I am buying the "seriousness" of their reply...That is it.

 

[Trade2Learn]

That was in response to our smart-alec friends here.

You have a legitimate query. They talked about logs etc.

And gave me a demo through remote connections on how those trades happened. In reality, I am buying the "seriousness" of their reply...That is it.

Pls stop talking in hints .
i m not able to understand,i just want to know , r u satisfied with ur solution with zerodha or not ?
if yes as u mentioned then pls reply how ??

 

[Zerodha]

They say when it rains it pours!! .. Phew!! last few days have been tough..

Guys, our focus is definitely not pricing, it is 100% on technology and tools, cause as a lot of you reading would have realized that pricing helps only to a certain extent.

A couple of things that I'd want to share, so that there is no confusion:

1. You might see one ID as Zerodha on traderji, but unlike all of you, we are a bunch of people writing reply on this side, right now it is me Nithin.

2. It is very tricky when we have to reply to pseudo names without knowing the client ID, email or phone numbers. Yes, we might have talked about it on the forum, and one of the many people(40 odd on support) would have interacted, but it becomes really tough to connect.

Coming back to the platform, Aug is our anniversary day, and we intend to be the best in every aspect of this business by then. As a low cost business, we had been forced to work with partners, rather than build our own products. But with all our client support, today we are at a stage, where we have put up an in house technology team, and looking to move away from all the so called vendors out there.

1. Our new website with a bunch of tools has gone live today, our blog Z-connect has been redesigned.

2. We will be calling for beta testers for our new front end very soon. We are hoping that this platform will do everything that an MT4, Ami, metastock can do and also be able to trade the markets. Going live on this will still take some time though.

3. Our new backoffice is getting ready, a lot more intelligent, and a lot more smarter.

These are a bunch of things on our list to do, we work in a heavily regulated environment, so it might take a bit to get approvals and etc, but we are all committed towards offering better technology, platform, and tools.

But this whole business of being on sites like traderji or social media, is definitely a double edged sword.. ... Do bounce off any suggestion you have to [email protected]...

Cheers,

 

[futures]

That was in response to our smart-alec friends here.

You have a legitimate query. They talked about logs etc.

And gave me a demo through remote connections on how those trades happened. In reality, I am buying the "seriousness" of their reply...That is it.

Punter,

When you were so elaborate and prompt when things went wrong, can you be little bit elaborate on how the issue got resolved?

You wanted to 'open our eyes' about the way Zerodha conducts the biz by letting us know the issue. In the same manner, please 'open our eyes' again on whose fault this is and how it got resolved?..Just an 'explanation of CO by Zerodha rep helped' is not opening our eyes, unfortunately.

you see, we owe it to ourselves to be fair sometimes.

 

[futures]

They say when it rains it pours!! .. Phew!! last few days have been tough..

Guys, our focus is definitely not pricing, it is 100% on technology and tools, cause as a lot of you reading would have realized that pricing helps only to a certain extent.

A couple of things that I'd want to share, so that there is no confusion:

1. You might see one ID as Zerodha on traderji, but unlike all of you, we are a bunch of people writing reply on this side, right now it is me Nithin.

2. It is very tricky when we have to reply to pseudo names without knowing the client ID, email or phone numbers. Yes, we might have talked about it on the forum, and one of the many people(40 odd on support) would have interacted, but it becomes really tough to connect.

Coming back to the platform, Aug is our anniversary day, and we intend to be the best in every aspect of this business by then. As a low cost business, we had been forced to work with partners, rather than build our own products. But with all our client support, today we are at a stage, where we have put up an in house technology team, and looking to move away from all the so called vendors out there.

1. Our new website with a bunch of tools has gone live today, our blog Z-connect has been redesigned.

2. We will be calling for beta testers for our new front end very soon. We are hoping that this platform will do everything that an MT4, Ami, metastock can do and also be able to trade the markets. Going live on this will still take some time though.

3. Our new backoffice is getting ready, a lot more intelligent, and a lot more smarter.

These are a bunch of things on our list to do, we work in a heavily regulated environment, so it might take a bit to get approvals and etc, but we are all committed towards offering better technology, platform, and tools.

But this whole business of being on sites like traderji or social media, is definitely a double edged sword.. ... Do bounce off any suggestion you have to [email protected]...

Cheers,

Very professional post..i wish to see more brokers participating in social media like this...good job, Zerodha.