Zerodha - Number One Discount Broker in India

[Brill]

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

I have seen so many thanks to this post of yours ST sir. I understand and accept the feeling of all.

But I Stand by Team Zerodha. Only because of them I am trading. and If such as small time trader like myself can afford Rs.20/- per executed order. Certainly everybody else can afford( I believe).

And I totally agree with your argument that, "as a business to ask for lower brokerage is your privilege"

But my argument is that we should not squeeze(kill!) a duck that lays golden eggs(in fact it is just starting to lay golden eggs/Pi).


Hope a few agree with me.

 

[market oracle]

Zerodha,

What is the difference between sweep to fill order and market order exactly? It seems like the same thing.

 

[NJ23]

In my opinion, Zerodha can charge Rs 20 and keep it that way. They will need the money for a constant improvement in the technology aspect (Back office & trading platform).

In fact, I would not mind paying up to Rs 30 if they provide a world class trading platform and back office.

Exactly! It's a discount broker. Least services should be expected from discount brokers. Zerodha is a pleasant surprise.

 

[MonyFx]

Here are a good few +ve observations that I noted on the second release in-contrast to the prev. version of Pi:

1. The second release is faster and better while starting & loading!

2. The scrolling of charts with Mouse/Arrows is a great feature!

3. Removing Indicators is simple & faster.

4. ZoomIn/Out feature is good as in MT4/Ami, fixed/improved from the prev. version!

5. UserPreferences-Orders window pre-definition is appended as requested!

6. Reconciling is faster than prev. version.

:thumb:

Regards,
Mony

 

[MonyFx]

Zerodha,

Your ideas & efforts in developing Pi is highly commendable and is itself pioneering in the disc-broking landscape in our country...:thumb:

And there is an improvement as far as I tested the newer Pi vis-a-vis the older one which is certainly a positive development and in the right direction!
Kodus Zerodha :clap:

And I also chime with what 'throwaway' has to say about delivering a no non-sense Quality Software platform... and It would take time and lot of refinements with user feedbacks in the live environment!

It took almost a decade to reach what Apple products are today... same with the world-class trading softwares the likes of which are for instance IB or modulus itself...

Please take your time in delivering a worthy product which would help increase in making profit, both for us traders and you zerodha aswell !

Thank you!

Regards,
Mony

 

[timepass]

There was a weird problem with ZT for me... After ZT was installed, when I created a shortcut to my desktop with the main exe being checked to run as administrator and compatibility changed to Windows 7, if I opened ZT from the desktop shortcut, the two green buttons that display the connection status would be red. But if I directly opened it from the installation folder, the connection would be green. Weird. I don't even know how this is technically possible. We could have a Ph.D in solving Nest problems and even win a Nobel Prize in debugging, first time ever...

And, surprisingly I haven't faced a login issue at all with Pi...

Probably this would help... Once Pi is installed, go to the installation directory, change the compatibility of Pi executable to Windows 7 or your current windows version. In addition, check the run as administrator box...
If the shortcut still has a problem, run it from the installation directory...

Please post how this works out...

I had a weirder problem .. My desktop shows two shortcuts - one for Ztrader and one for Nest trader... both of them work. I am not touching anything as long as it works

I have installed latest PI version. After logging in it is stuck at " Loading Expert Advisors ". What is the solution ?

If you are logging first time after NEW INSTALLATION... it will take little time to login...

COZ it has to DOWNLOAD all the SCRIPS.... and it takes some time...

But after that SCRIP download completed... things will take you to market watch..

If nothing else works, trader7, then try changing the windows theme. Don't use "Windows basic" theme. This weird problem also occurred with the previous version of Pi and I thought it was taken care of.

Meanwhile, Zerodha, will uninstalling delete (from Pi) my marketwatch and charts and other layouts ?? If not, why not ?

 

[rocky1.dgr8]

Zerodha trader is working fine but Pi is halted at this screen and not moving further to the 2FA questions.

 

[Strategist]

Zerodha trader is working fine but Pi is halted at this screen and not moving further to the 2FA questions.

Same problem here reported in the morning. Wait for the next release.

 

[Zerodha]

Same problem here reported in the morning. Wait for the next release.

That means that Pi is disabled, can u send an email with your client ID to [email protected] and [email protected]

 

[jyotixxx]

Zerodha,

Ummmm..!! Are the servers down for data cleaning or is this an error... Last time I got this, I had to reinstall my windows to set it right for Pi...

Trying to load charts and Pi gives this error, and it's todays update, 1st Nov release... And clicking on 'Continue' doesn't help...

View attachment 20000

Same problem here!
Windows 8.1/6GB RAM/1GB Radeon