Zerodha Part 2

[calic]

zerodha,
Can you provide this facility ?

I too wish if this tool was there in ZT.I am unable to monitor my trades throyghout the day.So after entering the trade if I get busy,the dilemma I face
is if I place both the orders for SL and TP both may get executed one after another.If one order gets cancelled automatically while the other gets executed
it will resolve the issue.Once you enter a trade if you can place such an order you are riskfree(From both the trader's as well as boker's point of view,provided the stoploss order must be a marketorder) and you can move on to the next trade. I believe many of your clients as they are working elsewhere also would need this facility.A minute change in you cover order tool would suffice.
Thank you in anticipation

 

[rockey784]

brokers never go bankrupt(only 1% chance), its traders who go bankrupt(99% chance).......

Ravi actually I'm new here I wanna know is it safe to trade with zerodha or compositedge for long time invest.

 

[shekharz]

I want to know, HOW DOES ZERODHA DEDUCT THIS AMOUNT FROM ONE'S ACCOUNT, examples are as below :-

(1) After every trading day, Zerodha calculates everything described above and then deducts the balance amount from one's account (for example, if one has a traded value of around 75 Lac (below 1 Crore) on a specific day, then Zerodha will deduct the required amount (around 75%) from him/her that day itself OR Zerodha will wait for 1 Crore to reach and then it will do the deduction, whether it reaches the next day or in next couple of days.

(2) Zerodha calculates these transactions on a Weekly or Monthly or Yearly basis and deducts the amount after everything is settled.

I think that Option (1) suits best here but an answer from some experienced persons would be much better.

Zerodha & Friends,

I think you might have missed this query ............

Please respond

 

[TraderRavi]

Ravi actually I'm new here I wanna know is it safe to trade with zerodha or compositedge for long time invest.

see I m trading with zerodha since last two years, zerodha is good for day/swing traders.....but for long term investing with zerodha , they have ILFS as DP partner, so some two party arrangement, but they have applied for DP.

 

[Subhadip]

From the limited knowledge I have...I would like to know in intra-day equity segments...what needs to be cleared..that the charges are more than NSE prescribed structure...If its buying and selling of share I can understand this....similarly being a novice I would again like to understand what role does a DP like IL&FS have in futures and options? Because I do not know...what needs to be cleared by a DP in Derivatives segment as well as Equity intra-day? Even I agree that the charges may be unwarranted...except for the delivery traades...you have put up a right question....one standard reply of Zerodha for this is that they are not a clearing member ...and so these extra charges...but still from my limited knowledge I am unable to understand what needs to be cleared in an intra day equity as well as derivatives....Please enlighten us...

The circular being quoted is correct....and since Zerodha is not a clearing member itself it has to pay charges other than what has been put up by NSE Circular and they are perfectly within their rights to do so...and this extra charge is charged by every broker which is not a clearing member itself...Hope it clarifies to some extent:thumb:

NSE Circular No: NSE/F&A/13028 and Circular No: NSE/F&A/13029 makes it clear that in futures the charges are Rs.190/crore and in Equity Rs. 325/crore.......Zerodha charges Rs. 500/crore in futures as well as equity...Since Zerodha is not a clearing member it has to pay extra charges to IL&FS ...and so they charge this much extra...at the same time no doubt this is on the higher side...and Zerodha would be doing great favours by reducing these charges because I do not think they would be paying more than Rs. 50-60/crore as clearing charges...to IL&FS...so net net in every one crore of transaction in futures Zerodha is charging at the minimum Rs. 250 more....equivalent of placing at least 12 orders at Rs. 20 per order...I am not aware whether for a broker it is correct to make Transaction charges as part of revenue stream....only Zerodha can tell how much they are paying to IL&FS as clearing charges....and what I feel that in the Indian context the only revenue stream is supposed to be brokerage...and Zerodha has decided to go with Rs. 20/order model....so its their choice...still I do not think that transaction charges can be a revenue stream for any broker....it can be definitely a revenue stream for a clearing member...but how appropriate is it for Zerodha or any other entity charging more than what they pay to a clearing member in addition to NSE charges only Zerodha can tell...I do think that additional charges in the name of Clearing charges other than what is paid to the clearing Member....may be Technically correct but ethically wrong....and It applies to all the entities including Zerodha....Legalities are not clear in this...Even SEBI's directive or NSE's directive regarding the same I have been unable to find....still will make an attempt to find out restrictions placed by any regulatory body regarding the same and will update if I find them...

Clearing charges differ from broker to broker....for us it is equal to brokerage cost...so before choosing check Transaction charges also. RKSV having very low clearing charges (For Future only Rs 40/ Crore 190+40=230).

If you are trading in NIFTY FUTURE, Zerodha will cost you Rs 300 /Crore , it is equal to Rs 19.89 per lot for both lag(50x5900) but if you trade with RKSV it will cost you Rs 40/Crore, it is equal to Rs 2.65 per lot.

Both have clearing with ILFS.

Even Bezel charges Rs. 250/crore in futures...Rs. 60 extra than what NSE has prescribed...and from this I conclude that even Bezel is not a clearing member itself...otherwise they would have to charge Rs. 190/crore....From whatever understanding I have from my short stint in the stock markets...RSKV most probably started after Zerodha...and I do have a feeling that Zerodha 's volumes should be on a higher side compared with what RSKV or even Bezel does....so considering that Bezel has been able to negotiate a clearing charge of Rs. 60 (190+60=250)....I am just giving it a benefit of doubt that it does not charge anything extra from clients ...facts may be otherwise also....and RSKV has been able to negotiate a clearing charge of Rs. 40 (190+40=230) as intimated by Traderj.....I do not see any reason as to how Zerodha (which I suppose would be doing more volumes than either RSKV or Bezel)....would have negotiated any charge in excess of Rs. 50 per crore as clearing charges....rather I do feel that they may have negotiated better clearing charges than either RSKV or Bezel from IL&FS and Rs. 50 per crore is the maximum I can think of what Zerodha would be paying per crore ...so ideally the clients should be charged Rs. 240 maximum in the futures segment...thus saving Rs. 260 per crore for the customers....and it would come as a big relief for each one of us...and Rs. 260 saved is like putting 13 orders at the rate of Rs. 20 per order...I may be incorrect also...as I am writing based on some assumptions....and I do have a feeling that a broker's only revenue stream ought to be brokerage rather than transaction charges...Zerodha has taken a choice to become a discount broking firm by offering Rs. 20/order...and this is a conscious decision thry have taken.....so how correct is it for Zerodha to charge so heavily on the pretext of giving some clearing charges...I have doubts....I have also doubt whether even Technically or legally also it is correct for any Trading member to collect extra transaction charges than what it is
paying... Anyone who can resolve my querry is most welcome....:thumb:

Zerodha please clarify

 

[soft_trader]

see I m trading with zerodha since last two years, zerodha is good for day/swing traders.....but for long term investing with zerodha , they have ILFS as DP partner, so some two party arrangement, but they have applied for DP.

Zerodha applied for their own DP?? Are you sure about it?

 

[TraderRavi]

Zerodha applied for their own DP?? Are you sure about it?

somewhere read it ...sachin can you confirm....

 

[megapixel]

Zerodha

I started getting this suddenly today ...I can not view charts.

Do you have any solution to this ?


I am very much annoyed with this Nest Plus charting for a long time. Do you have any alternate charting facility ?

 

[Taiki]

Hey Guys,

I need your help & suggestion on deciding before opening account with Zerodha. I choose Zerodha from RKSV, RKGLOBAL and Zerodha.

Now my queries are,

1. How is the ZT terminal, Is it better than NOW ?
2. How is the ZT Web Trading terminal, Is it as fast and reliable as ZT terminal?
3. Does the Zerodha web platform include the charting facility?
4. Does it have sms tarade confirmation service (on taking trade) ?
5. Does it give any Buy/Sell calls, Pre/Post market summary etc. ?

Right now I have demat account with Ventura Sec. I am quite happy with their service, but their Web platform is not that good for tarding F&O segment. Not all the option contracts are available there, and it lacks charting tool too. Otherwise Pointer(Window based terminal) is good. I am not saying great, but good.

I am much concerned about the web platform as that is what i need most for trading.

 

[soft_trader]

Now another xerox copy of Zerodha. Alice Blue Securities. Brokerage same as Zerodha. Seems like everyone want to copy Zerodha's business model