Zerodha Part 2

[timepass]

@Sumit,

This thread is for us to help client queries and you are just crowding this place up with your rant. As I mentioned earlier, how much we charge is our business and you wanting to use our service or not is your decision. I was just checking for your emails and very surprisingly you haven't sent any email asking us about any of these questions over the last few days from when you are repeatedly just commenting here. If you are unhappy with us, I guess you should move to the other brokers you have mentioned, I suppose you would appreciate that you/me are spending time posting/answering on the same topic.

@mayank, brother, you are a special trader who gets a special deal from your broker and you'd probably appreciate that not everyone can pay Rs 50,000 as a fixed brokerage per month. We as Zerodha cannot match the deal you are getting with your broker, I have stopped pitching you to become our client a long time back, so I don't see any point in us discussing about our charges. Because you are using algo's from your broker, I might ask you a few details about that and I'd be happy to get your feedback and do let me know if you don't want me to.

@everyone else, As I have mentioned earlier, our focus today is technology to give you an edge. Every client of ours knows how much we charge before taking a trade and you'd all appreciate that we were the first brokers to do so, by our brokerage calculator or charge list. If you think our charges are higher and makes a material difference to your trading, it is freewill and you have every right to choose a broker of your choice. But before you take that decision do understand, NOW as a trading platform gave us a very good start, but moving to our own trading platform was very crucial. With our own platform, we will over the next year offer tools which will delight you. Giving the technology edge without increasing the costs for you is our challenge now..

Zerodha, while you are addressing this, can you please clarify whether the "Transaction Charges" actually include 2 components : Transaction charges (statutory) and Clearing charges (discretionary).

Thanks.

 

[VJAY]

Good discussion by sksingh...still zerodha no answering
cinderblock=zerodha? (suuporter)
sksingh=?
Though if get any benefit from it then we (clients of zerodha) are happy...

both are not trading with zerodha :d

 

[Zerodha]

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)?

In the software version, default is lots. So if you are buying 1 lot of crude, you mention 1 and not 100.

 

[cinderblock]

Good discussion by sksingh...still zerodha no answering
cinderblock=zerodha? (suuporter)
sksingh=?
Though if get any benefit from it then we (clients of zerodha) are happy...

both are not trading with zerodha :d

At this rate I will soon be called Nithin :rofl:

Zerodha Beware!

 

[quinox]

Can they charge this under a single heading of "Transaction Charges". There is no mention of "Clearing charges" in the contract note.

Bhai, I dont know about this.

 

[Zerodha]

Zerodha, while you are addressing this, can you please clarify whether the "Transaction Charges" actually include 2 components : Transaction charges (statutory) and Clearing charges (discretionary).

Thanks.

Transaction charges include: Turnover charges(Statutory) and clearing charges(discretionary)..

 

[timepass]

Transaction charges include: Turnover charges(Statutory) and clearing charges(discretionary)..

Thanks. Now we know why there is such a wide gap in the charges levied. Of course, the discretionary charges can not be questioned.

 

[timepass]

Transaction charges include: Turnover charges(Statutory) and clearing charges(discretionary)..

Thanks for at least replying...and thanks for your suggestions Dear...to switch brokers...but please do answer the questions on Transaction charges...good that you checked my mails...Bad that you did not check the mail I have written to Nithin your CEO and to compliance Officer....
and further bad that I am going to ask SEBI to furnish information regarding TM-CM Agreement entered by Zerodha with IL&FS....Please ask your CEO and compliance officer..

and now instead of replying to questions you have started giving a different dimension to it...so I will oblige further...

Just wait and watch...

Broking is definitely a challenging business and you can not charge Transaction charges which is more than Clearing charges you pay +Rs. 190/crore in futures thats my contention

NJOY...and wait for some good news from SEBI for the trading community..

and be prepared to pay taxes on Extra Transaction charges you have charged all these years....for this Income Tax Dept. is the right wing I guess..

You can not have the privilege of not answering my genuine querry and giving suggestions...both together....

Happy Trading:thumb:

Sumit, Zerodha has clearly replied about the Clearing charges being discretionary. How can discretionary charges be challenged ? I don't think that you will have a basis for your contention, unless there is some law about it. Two different vendors can charge differently for the same / similar service provided.

 

[PartTime_Trader]

Zerodha, while you are addressing this, can you please clarify whether the "Transaction Charges" actually include 2 components : Transaction charges (statutory) and Clearing charges (discretionary).

Thanks.

Transaction charges include: Turnover charges(Statutory) and clearing charges(discretionary)..

Ok, so what we understand from all the above discussion is that . . .


The Statutory Turnover charges is Rs 190/ Cr


The Discretionary Clearing Charges charged by Zerodha is Rs 300 /Cr


What i don't understand though is . . . . why not mention it clearly and why club it under one head . . . does not come out as very transparent way . . . . . . . .

 

[PartTime_Trader]

Sumit, Zerodha has clearly replied about the Clearing charges being discretionary. How can discretionary charges be challenged ? I don't think that you will have a basis for your contention, unless there is some law about it. Two different vendors can charge differently for the same / similar service provided.

When other broker seem to be charging just Rs.40 (230-190=40) for this discretionary component, Zerodha's Rs 300, well is just 8 times, no big deal

Anyway discretionary does mean meri marzi. . .

Baki Saab Teek Hai :thumb:


PS: No Hidden Charges, Totally Transparent :rofl: