Zerodha Part 2

[sr114]

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

Pls , also make the list of traditional brokers and how much they are taking along with the brokerage they are charging. otherwise we can conclude that the traditional brokers are good anf discount brokers are not up to that level.

pls make the list asap (chalo i have made the list and u guys pls fill it - these will help us to make a better conclusion)

1. Sharekhan - .........(brok) .........(TXN Charges) .......Hidden Charge
2. IIFL
3. MOSL
4. ICICI Direct
5. Religare
6 Unicon
7. Bonanza
etc etc

rgds
Subroto

 

[cinderblock]

Agreed I may be wrong in referring them as Statutory charges...My simple proposition is that Transaction charges are not Profit making avenues....By this I mean that Transaction charges should be only what is clearly stipulated by NSE and in addition to what a broker has to pay as clearing charges...My specifics do not belie the need for a broker to charge only what is expected to be charged....

Are you trying to justify Rs. 490/crore charged by Zerodha?
There is an NSE Circular regarding this..which I have posted on this forum..please go through it...only bone of contention is clearing charges...and its very clear that if other Discount Broking Firms charge half of what is being charged by Zerodha...and Zerodha does a business which most probably all of them put together do..

where is the justification for Zerodha to charge more? Please do not hide behind specifics..come with concrete logic..

Or do you want to tell that Zerodha has to pay more as clearing charges and that all these discount broking firms have negotiated better clearing charges? The truth can not be farther....Zerodha has indulged in incorrect practice to charge more under the heading Transaction charges..and there is a man called Arvind Kejriwaal who has been exposing everything...I sincerely hope He exposes this blatant violation of NSE Guidelines and how Broking Firms..Zerodha is not the only one..have indulged in these practices..

Come up with a logic Dear...Do not hide behind what is statutory and what is not? Point is can a broker charge more than what he has to pay as Transaction charges? Thats it and the answer is clear no...

And I will do you all a favour....NSE/SEBI will have to come up with strict guidelines regarding the same....very soon

:thumb:

Can you show me where is it stated that Zerodha CANNOT charge transaction charges of Rs.490/crore?

Otherwise it's empty rhetoric.

 

[cinderblock]

If there is not a circular regarding this then shall we assume that every Broker has a right to charge wjatever he thinks fit...

No..certainly not..its very clear that if RSKV charges Rs. 230/crore as Transaction charges..it means at max. they have negotiated a clearing charge of Rs. 40/crore..similar with Bezel/Smarttradeonline/Achievers..

and does Zerodha wants to tell that they have negotiated a clearing charge which is 5 times what has been negotiated by RSKV/SMARTTRADEONLINE/BEZEL....

Come on get the Maths right...No one is barking at a wrong tree...
Instead of seeing the logic intent is to give a different direction to these correct questions and I will soon post what I will be writing to SEBI/NSE as well as Ministry of Corporate Affairs....Truth will take some time...But falsehood cannot be defended by any type of spirited argument...

NJOY:thumb:

Look forward to it

 

[timepass]

Agreed I may be wrong in referring them as Statutory charges...My simple proposition is that Transaction charges are not Profit making avenues....By this I mean that Transaction charges should be only what is clearly stipulated by NSE and in addition to what a broker has to pay as clearing charges...My specifics do not belie the need for a broker to charge only what is expected to be charged....

Are you trying to justify Rs. 490/crore charged by Zerodha?
There is an NSE Circular regarding this..which I have posted on this forum..please go through it...only bone of contention is clearing charges...and its very clear that if other Discount Broking Firms charge half of what is being charged by Zerodha...and Zerodha does a business which most probably all of them put together do..

where is the justification for Zerodha to charge more? Please do not hide behind specifics..come with concrete logic..

Or do you want to tell that Zerodha has to pay more as clearing charges and that all these discount broking firms have negotiated better clearing charges? The truth can not be farther....Zerodha has indulged in incorrect practice to charge more under the heading Transaction charges..and there is a man called Arvind Kejriwaal who has been exposing everything...I sincerely hope He exposes this blatant violation of NSE Guidelines and how Broking Firms..Zerodha is not the only one..have indulged in these practices..

Come up with a logic Dear...Do not hide behind what is statutory and what is not? Point is can a broker charge more than what he has to pay as Transaction charges? Thats it and the answer is clear no...

And I will do you all a favour....NSE/SEBI will have to come up with strict guidelines regarding the same....very soon

:thumb:

Ok.. I get it. Transaction charges and clearing charges are two different headings and should be stated as such. Maybe Zerodha has combined them.

Hello Zerodha, won't it be more transparent if you were to mention them separately ? e.g. here is the breakup as given by another broker.

 

[Zerodha]

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....

Yes, presently there would be that 1.5% rule for putting a SL when you are writing options. We are working with the tech team to set this right, where we can give a bigger range for people who choose to write option and give the 1.5% range for people who trade futures.

 

[timepass]

..one can ask from SEBI for a copy of it under Right to Information Act 2005...Doodh ka doodh ..paani ka paani ho jayega

NJOY:thumb:

Is SEBI covered under RTI ?? I didn't know that.

 

[hayerpa]

hello brothers just in BW the transactions queries please solve my problem also as mentioned below .

Hi zerodha,

Today first time I traded in zerodha just to check the functions and I was confused and needed some help from you , I’ll post my query one by one and hope to see the answers soon.

I placed my order as follows :
short sell Jpass , qty=1 , price 98.15 , order type = Limit
my order was executed at this price, now my questions are:
1) How to place a stoploss order when the order is executed e.g lets say I want to place SL-limit order as ,trigger price = 98.35, limit price = 98.40.
2) And further I want to square off the position at 98 so where I have to look in your trading terminal to place the order.
3) Suppose the SL order is been put and acc to movement of market I need to change the SL order,so where I can edit the SL order or cancel it. As zerodha does not support algo trading so need to cancel all SL order if target is met.


thankz.

 

[cinderblock]

My Dear friend..just a few times back...It was not mentioned how much should be charged as AMC on DP...sometimes back SEBI came up with a directive regarding the same...

So in a similar way..This will happen here also..and its not empty rhetoric...Its Truth..and plain truth..Nothing but the truth...

Anyway whats the reasons for you trying to defend unjustified charges...and my logic is there..but what is your logic,,,...

writing words like empty rhetoric and a circular regarding this ..or that ...can not take away the fact that Zerodha is wrong in Charging the Transaction charges they have been charging...Thats the plain and simple truth

NJOY:thumb:

More empty talk and still no answer to my question.

Who says Zerodha cannot charge Rs.490/crore as transaction charges?

 

[quinox]

More empty talk and still no answer to my question.

Who says Zerodha cannot charge Rs.490/crore as transaction charges?

To answer your query.....

As the law stands today....it is perfectly legal for zerodha to charge 490/crore ( transaction + clearing charge).

People might discuss whether it is fair/unfair, mild/harsh etc...and hence accordingly might switch their broker, but as far as legality is concerned...it is completely LEGAL ( as on today).

 

[Zerodha]

hello brothers just in BW the transactions queries please solve my problem also as mentioned below .

Hi zerodha,

Today first time I traded in zerodha just to check the functions and I was confused and needed some help from you , Ill post my query one by one and hope to see the answers soon.

I placed my order as follows :
short sell Jpass , qty=1 , price 98.15 , order type = Limit
my order was executed at this price, now my questions are:
1) How to place a stoploss order when the order is executed e.g lets say I want to place SL-limit order as ,trigger price = 98.35, limit price = 98.40.
2) And further I want to square off the position at 98 so where I have to look in your trading terminal to place the order.
3) Suppose the SL order is been put and acc to movement of market I need to change the SL order,so where I can edit the SL order or cancel it. As zerodha does not support algo trading so need to cancel all SL order if target is met.


thankz.

Check this blog out: http://www.zerodha.com/z-connect/blog/view/stop-loss-orders-limit-market