Zerodha - Number One Discount Broker in India

[CougarTrader]

How about IB? has anyone in here been trading with them? Now that they've matched the pricing of Zerodha/Upstox? Their only drawback is they're just offering NSE EQ & FO. No other exchanges.

Moreover IB has stopped providing leverage. I can imagine lot of local gang-ism is restricting IB in India, otherwise they are the most preferred Broker Worldwide. Hardly anyone in Europe trades without IB (because local EU brokers/banks charge a lot compared to IB), needless to mention USA (where they face other competitors like TOS-TDAmeriTrade). IB have free Datafeed plugin for AmiBroker, using their high-end simple APIs you could built anything from their platform TWS, Untimed Free Demo Trial. What else does anyone need?

Instead of working towards Trader satisfaction, today's Discount Brokerages in India are mostly concerned on Account Openings, they just want you and me to trade and lose and give up, then a newbie will repeat the process again after all India provides a huge client bandwidth. Don't you think if strong emphasis would have been laid on OMS/RMS instead of showing-off with plastic features, the basic preliminary issues that we face day-in, day-out would have been resolved by now?

If IB realizes this and start facilitating services on leverage, products from various Indian Exchanges on top of their current Technological facilities, I think it will be game-over for many disorganized Brokerages. I have requested @Traderji to onboard IB such that we all could collectively discuss our concerns. Let's see how that pans out....

 

[NJ23]

Brokerages in India are mostly concerned on Account Openings, they just want you and me to trade and lose and give up

Yeah! I know how that goes. Was employed as a broker at Anand Rathi. SMH!

 

[Punter786]

Updated here. No further progress.

https://www.traderji.com/community/threads/zerodha-order-problem-updates.107250/#post-1321762

Maybe if you were present in person you could have presented your case in a better way and the order may have been different!!

But I would still suggest you Not to give up as you have got a strong case. It is surprising they have taken No cognizance of glitch in Zerodha's system and bizarrely accepted their blame that client's repeated orders are responsible for the glitch!! And just because you are an experienced trader it does Not mean you are also liable for the orders Not done by you!! Deeply flawed conclusion. Go for an appeal bro.

 

[Newbie Day-Trader]

Moreover IB has stopped providing leverage. I can imagine lot of local gang-ism is restricting IB in India, otherwise they are the most preferred Broker Worldwide. Hardly anyone in Europe trades without IB (because local EU brokers/banks charge a lot compared to IB), needless to mention USA (where they face other competitors like TOS-TDAmeriTrade). IB have free Datafeed plugin for AmiBroker, using their high-end simple APIs you could built anything from their platform TWS, Untimed Free Demo Trial. What else does anyone need?

Instead of working towards Trader satisfaction, today's Discount Brokerages in India are mostly concerned on Account Openings, they just want you and me to trade and lose and give up, then a newbie will repeat the process again after all India provides a huge client bandwidth. Don't you think if strong emphasis would have been laid on OMS/RMS instead of showing-off with plastic features, the basic preliminary issues that we face day-in, day-out would have been resolved by now?

If IB realizes this and start facilitating services on leverage, products from various Indian Exchanges on top of their current Technological facilities, I think it will be game-over for many disorganized Brokerages. I have requested @Traderji to onboard IB such that we all could collectively discuss our concerns. Let's see how that pans out....

Not sure if they're necessarily facing any restrictions or opposition in India (do you have a source?) but I think they're more used to developed, deeper markets with higher participation-rates, & hence, super-cautious about giving leverage in an undeveloped, shallow market like India due to the fear of it potentially crashing big time on some big global news, given the tenuous nature of the global markets as it is. Nonetheless, I think they definitely are looking to further penetrate the Indian retail market given that they lowered their minimum balance requirement from 2k to $500 fairly recently, & of course, last year itself they lowered the brokerage to match Zerodha's standard but I agree with you that they definitely need to consider leverage if they want to stand any chance of expanding in India, & IF they do that then, I could see them destroy a lot of the Indian brokers.

I hope your suggestion to get IB on-board goes through, & if they decide to participate on the forum & listen to what Indian traders want, then it will a win-win situation for both. I'm currently trading with IB, & fairly happy & haven't faced any issues but their margin-requirements are very annoying!

 

[TraderRavi]

IB call and trade charges Rs. 2000 per order

 

[timepass]

IB call and trade charges Rs. 2000 per order

Is it the same for auto-square off ??

I guess we should thank Zerodha for Rs. 20 + taxes

 

[Newbie Day-Trader]

Unlike many discount-brokers in India, IB has a robust system, so one will almost never have to call & trade. I've been with them for more than a year & I haven't required to call & trade even once!

I highly doubt it's applied to auto-squareoff since the purpose of the high call & trade charge is probably to dissuade human-intervention & automate as much as possible. Nonetheless, one can always call them & ask, if not sure. I almost exclusively trade in the morning, until 12 p.m. or so at most, so I have no personal experience in that regard.

 

[Loss_Lover]

I have requested @Traderji to onboard IB such that we all could collectively discuss our concerns.

Thanks.

I hope your suggestion to get IB on-board goes through, & if they decide to participate on the forum & listen to what Indian traders want, then it will a win-win situation for both

We all on same boat. I wonder why brokerages follow Zerodha's theme instead of IBs? One thing I like best about IB is their plugin that connects their TWS with AmiBroker for datafeed. Hope @Traderji brings IB for discussion.

 

[TradeJoker]

Please solve mobile app issue, facing problem since two weeks,

 

[timepass]

Please solve mobile app issue, facing problem since two weeks,

Did you write to them and raise a ticket ?