Zerodha Part 2

[Trader J]

Sachin...Please look into this. I was trying to sell 5900 CE via cover order for Rs. 19.00............the system wanted me to keep an SL between 19.20 & 19.30..........isn't that strange...most likely both my original order and SL order will be executed together......1.5% range for SL for options is too less...Cover order then absolutely doesn't make any sense.....it should be 1.5% of strike price ideally instead of the LTP in case of options...only then would it make any sense....if this is not possible, you should come up with something more rationale...I dont think it makes any sense for me to sell option at 19 and put a stoploss of 19.20.......I am sure you will agree....

No they will not agree...I tryed many times...but they ignore my question...Zerodha flying high......now sure they will down very soon......

 

[hayerpa]

You are correct...Zerodha has definitely delighted us with their offerings..and agree with Timepass also...so before taking up this matter with Regulatory Authorities I also think it would be better on our part
to give them time to respond...and again instead of replying in a logical way..if Zerodha comes up with answers which are not logical and convincing..one can always move ahead....

And I am very clear on this...

Transaction charges should be Transaction charges as specified by NSE+COST incurred by Zerodha as Clearing Charges...anything extra can be said to be unfair trade practice

and many people have negotiated better charges with their established and reputed broking firms once Zerodha started charging Rs. 20/order flat as brokerage..

So Zerodha should not feel bad that once realizing that even Discount Broking Firms are charging less transaction charges..We will definitely demand from Zerodha also to reduce their Transaction charges...

Earlier Established Broking Firms were at the receiving end and now its going to be Zerodha...because of what is being charged by its peer group..Zerodha sholud welcome this competitive spirit...and charge legally and Technically correct Transaction charges from its customers....

I welcome this another wave of competitive bidding in the Broking Business..Its beneficial for all traders..Big and small alike

Regards and Happy Trading:thumb:

i hope all the zerodha members are reading this forum and should respond to it but i think i haven't seen any prompt response from them so we can say they are at fault, actually i opened zerodha account few days ago and few days back i received mail from nitin that blah blah we are so and so , i hope every new menber received that well i would say i was impressed with the success of nitin of his hard work and any one who is trading wants to be succed like him one day , but recently i came to know about this transaction charges from following this forum from couple of days about this matter i would say i'm loosing confidence in nitin words .
it would be like "bhed ki khal mein bhediya" we all came to zerodha just for one reason and that is we have to pay less our hard earned money to brokerage and other charges but i doesn't look so.

so i request fellow zerodha members to come up with some conclusion and make us HAPPY

till then happy trading

 

[My investmentz]

No they will not agree...I tryed many times...but they ignore my question...Zerodha flying high......now sure they will down very soon......

Rightly said Trader J they agree to only one thing and that is you have to agree with them in every thing they say if you dont then you dont matter

@sachin you said in above post that i save in stamp duty trading with you
so i need to pay higer Charges

Sir i pay Govt huge STT so i am compensated to a lesser extent by paying karnatka stamp duty

You dont have to do tit for tat as you charges lower brokerage that you will charge higher Brokerage

In the end it means GOVT gets taxes Zerodha puts unjustified charges which are twice the charges of other brokers and the traders Get screwed

 

[Trader J]

@ sumit:

Yes... I appreciate your effort to take this matter up to SEBI/NSE. Let's join our hands and stop this malpractice. I also want to take it up to the regulatory bodies. Please PM me the process.

Dear Soft and All,

Please make a list of discount brokers in India, I know following

Action Fin : Rs 190 /Crore
Smarttradeonline: Rs. 240/crore
RSKV :Rs. 230/crore
Zerodha :Rs. 490/crore
Composite Edge : Rs 490
Achiivers :

Please add....Thanks

 

[timepass]

Dear Soft and All,

Please make a list of discount brokers in India, I know following

Action Fin : Rs 190 /Crore
Smarttradeonline: Rs. 240/crore
RSKV :Rs. 230/crore
Zerodha :Rs. 490/crore
Composite Edge : Rs 490
Achiivers : Rs.190/ crore, but there is something called "Clearing charges on futures - Rs. 200 per crore."

Please add....Thanks

Do the others also charge these clearing charges on futures ?

 

[cinderblock]

Transaction charges are NOT statutory in nature, as someone mentioned. Please refer to the NSE working paper.

"Statutory levies
Transactions on exchanges attract four different types of statutory levies; they are: Securities Transaction Tax (STT), Service tax on brokerage, Stamp duty and SEBI turnover fees. STT and service tax on brokerages are revenues of the Central Government, while stamp duty is collected by respective state governments."

 

[megapixel]

Transaction charges are NOT statutory in nature, as someone mentioned. Please refer to the NSE working paper.

"Statutory levies
Transactions on exchanges attract four different types of statutory levies; they are: Securities Transaction Tax (STT), Service tax on brokerage, Stamp duty and SEBI turnover fees. STT and service tax on brokerages are revenues of the Central Government, while stamp duty is collected by respective state governments."

lo ...govt toh pura paisa le liya ...upar se annual tax on gain bhi lega ...aur kuch bacha kaya ?

 

[soft_trader]

Dear Soft and All,

Please make a list of discount brokers in India, I know following

Action Fin : Rs 190 /Crore
Smarttradeonline: Rs. 240/crore
RSKV :Rs. 230/crore
Zerodha :Rs. 490/crore
Composite Edge : Rs 490
Achiivers :

Please add....Thanks

Do the others also charge these clearing charges on futures ?

In Achiievers they are charging Rs. 390/- per crore. Rs. 190/- per crore is the original NSE charge and the rest is clearing charges. In Achiievers they have shown the breakup of Turnover charges.

Say for example Zerodha is charging 490 per crore. So 190 is the NSE charge and the rest 300 per crore is the clearing charge and so on for every broker.

I think the regulatory bodies should come up with a circular that the TCM can't charge more than Rs. 190/- per crore and the TM can't charge more than a specified amount. That will solve the problem rather than shouting at every broker to reduce it's charges.

 

[cinderblock]

I think the regulatory bodies should come up with a circular that the TCM can't charge more than Rs. 190/- per crore and the TM can't charge more than a specified amount. That will solve the problem rather than shouting at every broker to reduce it's charges.

Correct.

It's clearly stated that brokers can charge a maximum of 2.5% as brokerage and no more. Statutory charges are what they are. You can charge neither more nor less.

Is that the case with transaction charges? I don't see it MENTIONED anywhere that "Members can charge only a maximum of x% as transaction charges". I will be happy to know if there is.

Else, we are barking the wrong tree.

 

[megapixel]

Hi Zerodha/Fellow traders,

when I login to zerodha web , I'm getting this

By default Lots is preselected.

If I select Weights here , what this will mean and what impact will be in the trading ....(if possible ..give an example please)?

IMO weigh means qty of lots....means when in lots crude shows 1 qty...if selected weigh then shows 100 in qty field...

VIJAY, Thanks ....It is ok for Web version...I would prefer 1 lot (default)

However , I don't get such pop up in ZT Terminal......through ZT Terminal , If I want to buy 1 lot Crude ...shall I input 1 or 100 ?