Zerodha - Number One Discount Broker in India

[love2trading]

HI ZERODHA,

**** 3.With the launch of our support centers in Tamil Nadu, Gujarat and Maharashtra, Stamp Duty will be charged according to the rate in the respective state you are residing in from September 16, 2013. If we don't have a support center in your state, Stamp Duty will be charged as per Karnataka state rates.****

oh my god. tamilnadu stamp duty rate is 600/croe.

pls close your tamilnadu support centre :clapping: :clapping: :clapping:

thanks.

 

[love2trading]

hi zerodha,

stamp duty rate is biggest advantage with zerodha for us (for tamilnadu traders)....

thanks

 

[Zerodha]

HI ZERODHA,

**** 3.With the launch of our support centers in Tamil Nadu, Gujarat and Maharashtra, Stamp Duty will be charged according to the rate in the respective state you are residing in from September 16, 2013. If we don't have a support center in your state, Stamp Duty will be charged as per Karnataka state rates.****

oh my god. tamilnadu stamp duty rate is 600/croe.

pls close your tamilnadu support centre :clapping: :clapping: :clapping:

thanks.

majority of the business today is in options trading, over 80% actually. Stamp duty will make no difference at all for this. But yes Tamil Nadu clients trading futures will be affected. This has got nothing to do only with the support center, it is also because of the fact that TN govt has sent out notices asking to pay for all clients based out of TN to TN. Guess everyone has to follow suit.

 

[milkyblack]

majority of the business today is in options trading, over 80% actually. Stamp duty will make no difference at all for this. But yes Tamil Nadu clients trading futures will be affected. This has got nothing to do only with the support center, it is also because of the fact that TN govt has sent out notices asking to pay for all clients based out of TN to TN. Guess everyone has to follow suit.

How will you decide on the location of clients in case of online trading? based on the address you have in records? or some other procedure?

 

[Smart_trade]

Started work on our new initiative "Opentrade" on Ganesh Chathurthi, with an objective to help you profit while trading the markets. Should be live by the year end.
http://opentrade.in/

What is opentrade > how does it work ? what is the advantage to traders ? can you please give some more information ?Is it something like "follow the successful trader" we have in overseas markets ?

Smart_trade

 

[arcus]

What is opentrade > how does it work ? what is the advantage to traders ? can you please give some more information ?Is it something like "follow the successful trader" we have in overseas markets ?

Smart_trade

Indian markets aren't liquid enough to "follow the successful trader".

Most overseas companies like ZuluTrade, eToro, Currensee are peer2peer online trading networks which deal with well established and deeply liquid markets like the Forex and the US Markets which have more than a trillion dollars in depth.

But in India, even if a few thousand people "follow a successful trader" in India and trade with 1L each, that would be sufficient to move the market and cause volatility

I dont think the Exchanges/Government would allow such things by a broker in India.

 

[love2trading]

What is opentrade > how does it work ? what is the advantage to traders ? can you please give some more information ?Is it something like "follow the successful trader" we have in overseas markets ?

Smart_trade

WE ALL FOLLOW THE SMART_TRADE :clapping::clapping::clapping:


THANKS

 

[bpr]

majority of the business today is in options trading, over 80% actually. Stamp duty will make no difference at all for this. But yes Tamil Nadu clients trading futures will be affected. This has got nothing to do only with the support center, it is also because of the fact that TN govt has sent out notices asking to pay for all clients based out of TN to TN. Guess everyone has to follow suit.

Zerodha
if you have Can you share the stamp duty rate for all the state with or without any cap?

 

[Zerodha]

How will you decide on the location of clients in case of online trading? based on the address you have in records? or some other procedure?

Yes based on the address proof for correspondence provided. This has suddenly become a nuisance with state governments starved for cash asking for stamp duty based on the address of residence and not based on brokers location. We have decided to comply with the state governments and don't want to risk this coming back to us and in turn our clients later on.

 

[Zerodha]

What is opentrade > how does it work ? what is the advantage to traders ? can you please give some more information ?Is it something like "follow the successful trader" we have in overseas markets ?

Smart_trade

Not exactly the way it works on etoro or zulu as arcus has mentioned, but on similar lines. Exchanges in India will never let auto trade kind of thing.

We will be putting out a brief on what exactly open trade is about very soon.