Zerodha - Number One Discount Broker in India

[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.

I agree with you that the broker should make money to give service but I am certain that with lot size of 25 ,Zerodha will make much more brokerage on Nifty segments than it was making before. So there is no squeeze on the broker.

It is Zerodha's call and they have said that if they had to reduce brokerage, they would rather try to make it 0...but there are many steps between 20 and 0 like 15,12,10 etc and all that will be decided by competition.I would definately not like them to go to 0 brokerage....I want them to make money and give service to traders.

I am as much a Zerodha follower as anyone else ....but let us not get too sentimental in saying because of Zerodha someone is in trading business...etc.These are business relations and should be kept as business relations only. Zerodha is doing a good job in giving better trading platform but that is partly necessitated by need for retaining clients and to ward off competition, but still we are thankful to them.

Let us see what the future competition has in store and whether Zerodha finds some steps between 20 and Zero... I remember brokers were charging 1% and 0.75 % brokerage and saying that they cannot afford charging less than that but see where the brokerage rates are because technology and competition.

Smart_trade

 

[prabit]

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

very nicely said. This type of positive response will defenitely encourage zerodha to refine their product which will again benefit the traders. One thing I would like to add I find that in spite of criticism there is earnest effort on the part of zerodha to develop their product.

 

[ocil]

Zerodha thanks for new Release and fixing bug reported by me. Now PI is working very smooth. Pls note all above windows vista to windows 8.1 user. If you uninstall previous version of PI. Its only removed from your program file folder. But all the setting and other file still not removed from your profile. So when you log on many face same issue like earlier version. Make sure you removed PI folder from your user profile also.
Also when you log on first time if PI not ask for activation then your profile still has the old ver PI and you may face same issue. I have tested new ver not face any issue excluding the chart data. As chart data still not sync.

 

[manishchan]

@ Zerodha... the data in PI as well as ZT are still not corrected. It still shows candles starting from 10:27 for 31/10/2014.

 

[MonyFx]

Zerodha,

Is the MT4-Pi bridge ready...?

 

[manishchan]

Zerodha,

Is the MT4-Pi bridge ready...?

Bro..You are asking him about bridge.. nd they pulling all nighters just to get the basic PI out the door... I'm sure the bridging thing gonna take few more months.

 

[MonyFx]

Bro..You are asking him about bridge..

The Ami-Pi bridge is ready & out the door ..... so I was asking about MT4-Pi...!

 

[timepass]

Zerodha thanks for new Release and fixing bug reported by me. Now PI is working very smooth. Pls note all above windows vista to windows 8.1 user. If you uninstall previous version of PI. Its only removed from your program file folder. But all the setting and other file still not removed from your profile. So when you log on many face same issue like earlier version. Make sure you removed PI folder from your user profile also.
Also when you log on first time if PI not ask for activation then your profile still has the old ver PI and you may face same issue. I have tested new ver not face any issue excluding the chart data. As chart data still not sync.

Brother, where is the profile folder ??

Couldn't find it in c:\users\admin folder (nor in c:\users\public folder)

 

[MonyFx]

If Bridges are ready for Pi, then a lot of people could make use of well established charting platforms for charting while using Pi for Order Execution in the background... this in inturn would take off a lot of pressure & expectation on Pi being both the Charting-cum-Trading application in very small time-span to make it work as a world-class trading application while simultaneously giving some more room and time for Zerodha on its Pi's development qualitatively thereby making it free from being error-prone/issue-prone delivered... !

And this would also help most traders who are on Ami & MT4 (which most of Indian traders are on) work with what they are already familiar with, & trade as usual; taking advantage of Pi-Bridge for Order Execution (cutting time/labor as on manual switching/execution)...!

who knows; most traders would as well be using only the Bridge for Pi with their favorite charting app, never having to bother about Pi's charting functionality/abilities itself at all ! Just taking advantage of Pi's OM, be it Auto or Semi-Auto fired from the charting-app.....

Best Regards,
Mony

 

[Jai Mata Di]

We need automatic execution using Bridges but is that possible?

Bridges with Ami & MT4 from Pi will be ready soon, but only for Semi-Auto trading. A pop up window would not make much difference unless automatic execution. We (some of advanced traders) already have sound alert on Ami & MT4 which is doing same job, but it need a manual execution.

For automatic execution still we need a dealer terminal, we need to pass NSE certified exam, we need to give our strategies to NSE for review(by CA). :annoyed:.
Market is dynamic but, we can't change/modify new strategies whenever required (we need fresh review from NSE).
NSE is trying to do a School Master like job on professional traders.

We are profitable and we can afford a monthly charge for automatic execution, thats must be enough. It is our money, our risk. :annoyed:


Lets see whether Zerodha can get a permission for automatic execution using bridges (Pi to AMI-MT4) and . In that case we can easily change/modify/implement new strategies on Ami-MT4 instantly without revealing our strategies to NSE.
But, it is surely difficult. It is very unfortunate that, everywhere we find an Old School Master.

Happy Trading.
H.C.