Zerodha Part 2

[Zerodha]

Guys about the POA for demat account.

@dashr, sorry if the sales rep didn't give you a right explanation. Typically he is not really qualified to answer technical questions, they'd probably confuse you more. One of the reasons why we are going live on Zerodha connect the blog section on our website. The idea is to answer all queries , straight from the horses mouth..

Demat account is very similar to your bank account. If I know your account number, I can transfer money into your bank account, but can I withdraw??

Unlike a bank account, demat account would require both transfer in and transfer out for operating the account online. We don't need a POA to transfer shares into the demat account..

But when you sell the shares, it has to be debited from your demat and delivered to the exchange.. We need the POA to debit the shares from your demat account..

What is the other way out, if you don't want to use POA for this ?? The traditional way, you will have to transfer shares using the delivery instruction booklet to the brokers pool account.. This slip has to be sent physically.. The broker then debits the share and takes it to the pool.. And then you can sell it... I don't know think any online brokers let you do it this way today, if he is doing, then it is not really an online way..

Similarly, if you need to give stocks as collateral, that is pledge your stocks with NSCCL.. This POA is used to debit and pledge with NSCCL on your behalf..

And all similar activities.. It is next to impossible to draft different POA's for different clients and hence we have 1 uniform one for everyone..

 

[dashr]

You can't add nifty index on marketwatch. You can add it on the index box.

Press ctrl +I, you will see a white box on top of marketwatch. right click and select show indices dialogue , Right click on the index you want to add and say add index...

Actually, you can add Nifty Index in Market Watch. Instead of NFO, choose CDS.

CDS>Normal>Index>Nifty

 

[champaklal]

Guys about the POA for demat account.

@dashr, sorry if the sales rep didn't give you a right explanation. Typically he is not really qualified to answer technical questions, they'd probably confuse you more. One of the reasons why we are going live on Zerodha connect the blog section on our website. The idea is to answer all queries , straight from the horses mouth..

Demat account is very similar to your bank account. If I know your account number, I can transfer money into your bank account, but can I withdraw??

Unlike a bank account, demat account would require both transfer in and transfer out for operating the account online. We don't need a POA to transfer shares into the demat account..

But when you sell the shares, it has to be debited from your demat and delivered to the exchange.. We need the POA to debit the shares from your demat account..

What is the other way out, if you don't want to use POA for this ?? The traditional way, you will have to transfer shares using the delivery instruction booklet to the brokers pool account.. This slip has to be sent physically.. The broker then debits the share and takes it to the pool.. And then you can sell it... I don't know think any online brokers let you do it this way today, if he is doing, then it is not really an online way..

Similarly, if you need to give stocks as collateral, that is pledge your stocks with NSCCL.. This POA is used to debit and pledge with NSCCL on your behalf..

And all similar activities.. It is next to impossible to draft different POA's for different clients and hence we have 1 uniform one for everyone..

The PoA can certainly be made investor friendly and divided into parts - say Part A for cash delivery customers, Part B for cash+FnO and so on ......
This is not done 'cos the brokerages like to hide devils beneath a mountain of words ....

Also, why then the "lien"?

 

[poortrader]

I have bought those shares at the time of Listing only, In which Reliance petro and other such de-listed cos from the reliance group. I just got dividend cheque...In that warrant they (Reliance) have mentioned No. of shares 60...It means after bonus and splits they have issued the bonus (in Rs.) to me...

I am from Pune, can I contact Karvey for this purpose as a Transfer Agent ??? Are they do transfer agent's work ??

But any ways thanks for your valuable advise...

U might get the name and address of registrars and share transfer agent in the envelope where u got the dividend for 2012, or go to reliance group website, find out and email/call them with yr certificate number

 

[strongBuddy]

I am replying from my phone so can't a full essay but if u are
Worried about whAt can happen in India a broker doesn't even
Need to suffer a minor loss in some situation but still can make
U loose hevily u might or might not get the money back from
Court of law all i can say is when broker like HSBC religare who
Are my brokers cannot be trusted forget about online brokers

Only thing is risk 25 percent of your capital with these guys when
I wanted to open an account with these guys I clearly said will
Not risk a percentage more of my capital with RKSV OR ZERODHA

Though both of these guys are honest as of now and looks
Like will not run away with money I am assured of that

The problem are is they give huge leverage like one lot of nifty
With 7 k intraday now who can guarantee that there may not
Be any news in the world which. Can take nifty down 300 or 400
Points and they will be just lookin because this sort off fall can
Come in matter of seconds before even they can see which client
Is loosing how much

This loss can be much more then there company's net worth
And more then every one who works there where as religare and
HSBC can pay the money but these guys can't so who pays I
Guess u are intelligent enough

I am in markets from last decade make my living from it believe Me
Only god know when are lower circuits coming no one else u
Can't even react to it even algos fail the fastest computer fail

Only thing is that can they pay up I don't know I guess emkay
Has paid up 51cr for the errors can these guy pay

It's good it's cheap who knows the party may last for ever
In some time big guys will also come in discount broking till
Then save where ever u guys can but b cauitous

1.did anything like the probable disaster you are projecting happened anytime in the past affecting the clients?.

2. and if i had deposited an amount and didn't trade at all.... will i also receive the hit?

 

[summasumma]

Guys about the POA for demat account.

@dashr, sorry if the sales rep didn't give you a right explanation. Typically he is not really qualified to answer technical questions, they'd probably confuse you more. One of the reasons why we are going live on Zerodha connect the blog section on our website. The idea is to answer all queries , straight from the horses mouth..

Demat account is very similar to your bank account. If I know your account number, I can transfer money into your bank account, but can I withdraw??

Unlike a bank account, demat account would require both transfer in and transfer out for operating the account online. We don't need a POA to transfer shares into the demat account..

But when you sell the shares, it has to be debited from your demat and delivered to the exchange.. We need the POA to debit the shares from your demat account..

What is the other way out, if you don't want to use POA for this ?? The traditional way, you will have to transfer shares using the delivery instruction booklet to the brokers pool account.. This slip has to be sent physically.. The broker then debits the share and takes it to the pool.. And then you can sell it... I don't know think any online brokers let you do it this way today, if he is doing, then it is not really an online way..

Similarly, if you need to give stocks as collateral, that is pledge your stocks with NSCCL.. This POA is used to debit and pledge with NSCCL on your behalf..

And all similar activities.. It is next to impossible to draft different POA's for different clients and hence we have 1 uniform one for everyone..

Does it mean that the person who don't have demat a/c with zerodha and do only FnO trading don't need to sign POA?

 

[megapixel]

Ideally the onus is on you to square off any intraday position if you are short margin, we typically do it for you, but the onus is still on u... The auction process usually takes T+3 days and will happen based on the price on the T+3 day..

Are you admitting auto-square off sometimes does not work ? Please immediately you need to fix this software bug.

This is going to be dangerous if a user purchased 1000 barrels of crude oil using leverage .....somehow/accidentally he missed to square off ....auto-square off failed at 6 PM on expiry day .......bingo.

He has to supply 1000 barrel crude oil ....omg ...its scarey

please fix this bug at the earliest.

 

[shri_r3]

Hi Zerodha,

I have a question. Suppose I buy 1 lot Nifty Futdx at market price and MIS order.
Next I want to square off the position by selling 1 lot Nifty Futdx and I press F2 to sell and by default its NRML order and without changing to MIS if I place a Sell order at say 20 points higher than my buy price and this NRML order is executed.
Now when I check net positions by pressing F11, I have two orders 1 buy as MIS and another sell as NRML order.

How can I convert executed NRML order to MIS or vice versa and what is the procedure to do so..
Also if I convert executed NRML as MIS will this square off my open positions as its met with equal qty buy and sell even before auto square off time at 3.20 PM

Thank you.

 

[prabit]

Hi Zerodha,
A simple query. In commodity I buy 2 lots under mis. Now before auto-square off time, can I convert 1 lot to normal for position carryover? And similar situation from normal to mis.

 

[columbus]

Are you admitting auto-square off sometimes does not work ? Please immediately you need to fix this software bug.

Most of the brokers AUTO SQUARE your transaction at appointed time ,if it
is GAINING but keep it open till market ends if it LOSING.I do not think ZERODHA
is not different.