My dear friend, I am obviously missing something which you see...but I did not understand what did I do which is "not expected "from me.
Let us do the maths now. Assuming Nifty Futures value of 8300. If a trader who was trading say 50 Nifty buy and sell in one buy and sell order was paying Rs 20 + Rs 20 = Rs 40 round turn brokerage. Now suppose he trades 50 but he buys in two separate orders of 25 each and sell in 2 orders of 25 each,he pays Rs 20+Rs 20 = Rs 40 for buying and similarly Rs 40 for selling so total he pays is Rs 80 round turn. And as most of the traders trade in Nifty ( Fut or options ) and that too in small order size, what is wrong in asking for reduction in brokerage of Rs 8 or 10 for Nifty order ? To accept that or not is entirely left to Zerodha.
For traders trading is a business..and brokerage is a cost. Any business person will try to reduce his costs. So I dont see anything wrong in asking for reduction in costs. Zerodha has not responded to my post but that could be because they are thinking on similar lines or just that they dont want to accept reduction in the per order brokerage even for nifty ( as there will be demands to reduce for other scrips too) and both these are fine .
Present condition of discount brokerage is not exactly a sellers market...competition is hotting up in this space...so the competition and economics will finally dictate the outcome.
I am getting my brokerage refunded in full for last over 1 year and it does not pinch me at all. But my request was for all the members. Any reduction in cost without reduction in service quality is welcome by all.
Anyways, please let me know if I am missing some important points /issues and have a great weekend ahead.
Smart_trade
Let us do the maths now. Assuming Nifty Futures value of 8300. If a trader who was trading say 50 Nifty buy and sell in one buy and sell order was paying Rs 20 + Rs 20 = Rs 40 round turn brokerage. Now suppose he trades 50 but he buys in two separate orders of 25 each and sell in 2 orders of 25 each,he pays Rs 20+Rs 20 = Rs 40 for buying and similarly Rs 40 for selling so total he pays is Rs 80 round turn. And as most of the traders trade in Nifty ( Fut or options ) and that too in small order size, what is wrong in asking for reduction in brokerage of Rs 8 or 10 for Nifty order ? To accept that or not is entirely left to Zerodha.
For traders trading is a business..and brokerage is a cost. Any business person will try to reduce his costs. So I dont see anything wrong in asking for reduction in costs. Zerodha has not responded to my post but that could be because they are thinking on similar lines or just that they dont want to accept reduction in the per order brokerage even for nifty ( as there will be demands to reduce for other scrips too) and both these are fine .
Present condition of discount brokerage is not exactly a sellers market...competition is hotting up in this space...so the competition and economics will finally dictate the outcome.
I am getting my brokerage refunded in full for last over 1 year and it does not pinch me at all. But my request was for all the members. Any reduction in cost without reduction in service quality is welcome by all.
Anyways, please let me know if I am missing some important points /issues and have a great weekend ahead.
Smart_trade
