Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
Re: how come zerodha is costlier compared to sharekhan
more charging has to be explained by zerodha and not by sharekhan :annoyed:. coz what sharekhan is charging is being charged by every other broker in india :thumb: as far as my knowledge goes. one can correct me on this!
the problem is the claim of cheap brokerage or being a cheap broker is hollow when traders are trading only 1-2 lots/trade (TO less than 5lacs). it holds no ground at all coz the stamp duty charges which are not there in the brokerage calculator knocks off the benefits of 20/- per trade when the trader is only trading 1-2lots/trade (TO less than 5lacs)!
but i dont understand the logic of zerodha behind stamp duty charges at all
why can't they be more transparent!
more charging has to be explained by zerodha and not by sharekhan :annoyed:. coz what sharekhan is charging is being charged by every other broker in india :thumb: as far as my knowledge goes. one can correct me on this!
the problem is the claim of cheap brokerage or being a cheap broker is hollow when traders are trading only 1-2 lots/trade (TO less than 5lacs). it holds no ground at all coz the stamp duty charges which are not there in the brokerage calculator knocks off the benefits of 20/- per trade when the trader is only trading 1-2lots/trade (TO less than 5lacs)!
but i dont understand the logic of zerodha behind stamp duty charges at all
why can't they be more transparent!
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Re: how come zerodha is costlier compared to sharekhan
Sharekhan seems to charge minimum 100 per contract for options, so how can it be cheaper for small lots ?
This is what zerodha charged for 2 lots nifty options (@ ~30 premium)
Turnover Chrgs
2.48
Service Tax
2.78
Sebi Charges
0.00
Stamp. Chrgs
1.00
STT
1.00
Total Brokerage
20.00
So about 27 in this case
Sharekhan seems to charge minimum 100 per contract for options, so how can it be cheaper for small lots ?
This is what zerodha charged for 2 lots nifty options (@ ~30 premium)
Turnover Chrgs
2.48
Service Tax
2.78
Sebi Charges
0.00
Stamp. Chrgs
1.00
STT
1.00
Total Brokerage
20.00
So about 27 in this case
Re: how come zerodha is costlier compared to sharekhan
option volumes driven trader do get discounts
lets not get into hw much discount these traders get!
point is zerodha has to clarify once in for all on stamp duty charges and how its affecting the overall cost! their silence is throwing more doubts on the overall cost structure!
gud tht i didnt send the docs thru courier which i was supposed to do on this weekend!
option volumes driven trader do get discounts
lets not get into hw much discount these traders get!
point is zerodha has to clarify once in for all on stamp duty charges and how its affecting the overall cost! their silence is throwing more doubts on the overall cost structure!
gud tht i didnt send the docs thru courier which i was supposed to do on this weekend!
Hi,
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
------------------
Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
-----------------
But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
------------------
Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
-----------------
But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
Last edited:
dear Price Pattern Recognition :clap:
if this is hw it is. i am really very happy :thumb:
:thanx: for taking pains and explaining the same!
i really appreciate it :hap2:
if this is hw it is. i am really very happy :thumb:
:thanx: for taking pains and explaining the same!
i really appreciate it :hap2:
Hi,
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
------------------
Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
-----------------
But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
xsis,
Download the ZerodhaChargeList form their web site, all stamp duty is clearly mentioned there.
If you are from Gujrat, Stamp duty for Gujrat is only 0.002% for futures from Zerodha same as ShareKhan. Open a account with Rs 300 only, trade with Rpower again, see your contract note in your own eyes and believe it.
------------------
Here is the reason why you (and some other friends) find it difficult to understand their present stamp duty structure.
Many big brokers like ICICI, ShareKhan follows fixed stamp duty according to Maharashtra which is 0.002% as their main branch.
Zererodha followed 0.01% or Rs 50 which is rate of Bangalore [Karnataka]. Using that that they attracted high frequency & volume traders. Although their turnover charge is high, they got that extra Rs 150/Cr benefit. As their turnover is increased, some state Govt like TN, Guj, Maharastra send notice to them to apply higher stamp duty according to such states as such states has no max cap facility. Zerodha started to apply the Stamp Duty according to such 4 states which causes anger from their clients.
Now after a notice a broker is bound to obey the rule or the broker can challenge that rule in the court immediately.
Some other Maharastra based brokers like Aditya Birla Money, Geojit BNP Paribas Financial Services, Kotak Securities and Sharekhan already got notice from TN for sure. They challenged it to Madras High Court & has won an interim injunction against recent changes in the stamp duty structure in Tamil Nadu. So they are also currently charging as old rates.
I have posted the link here, it is for you again.
http://articles.economictimes.india...ecurities-and-sharekhan-tamil-nadu-duty-rates
Some brokers with less clients not got notice from such states so that they also charging fixed rate of 0.002%.
That is the reason that Zerodha is charging differently stamp duty for 4 states currently.
-----------------
But I personally feel Rs 600 [TN] or Rs 1000 stamp duty [WB] with no max cap is too much bcoz trading is not like reality business, here profit is not guaranteed. So Zerodha must also challenge TN in Madras High Court.
------------
Take pain to explain the fact bcoz zerodha explained my query well here.
Broker client relationship must be always give and take (in TJ also).
Cheers.
