Zerodha Part 2

[TradeRaid]

All systems are functioning fine (superbly) and I've been able to place orders on my mobile.

 

[Zerodha]

"quantity should be in multiples of mull"- This came in putting order quantity.

@svasudevan - We've tried reaching you on your mobile to help you out with your mobile issue. The mobile version is working well and our RMS team has confirmed that a lot of orders are coming through from the MOB platform.
Do call us if you need assistance - Hari from Zerodha

 

[sridhar]

RE: National Spot Exchange

Dear Zerodha,

I had previously enquired re E-Silver & E-Platinum offered by National Spot Exchange.

I find that IL&FS is an empanelled DP with NSEL for these items. So only thing remaining is whether Zerodha can empower us to trade on National Spot Exchange. As you already have MCX trading access I feel it should be possible without much problems.

Pls clarify asap.

Link re emapanellment:
http://www.nationalspotexchange.com/NSELUploads/Trading_Doc/2010/Circular067_2010.pdf

 

[hayerpa]

hi Zerodha,

is there any way i can see P/L details in the main window and also amount holding in my account.

 

[amudha]

Regarding brokerage, agreed, it is cheapest. But they have put up some hidden cost which nobody seems to be aware. The turnover tax levied by Nse ranges from Rs.1.75 to Rs.1.90 per lakh turnover for Futures (Ref Nse Circular NO. NSE/F&A/13029 dated 7-9-2009). Even assuming that Zerodha pays at the maximum rate, it should not be more than Rs.1.9 per lakh (i.e. Rs.190 per crore) for futures.But Zerodha charges clients @ Rs.490/crore. So more than 50% of Nse transaction charges collected by Zerodha is kept with them . Similarly for Options segment, Nse charges a flat rate of 0.05% of premium which comes to Rs.5000 per crore. But Zerodha charges Rs.8000 per crore. They could have simply charged the clients the correct NSE transaction charges and increased the brokerage, if they wanted to be transparent. Hiding such vital info is not in the best interest of a growing organisation. I have nothing againt Zerodha. I only wanted to share with members that the brokerages advertised by them is not to be taken at face value only.

 

[soft_trader]

Regarding brokerage, agreed, it is cheapest. But they have put up some hidden cost which nobody seems to be aware. The turnover tax levied by Nse ranges from Rs.1.75 to Rs.1.90 per lakh turnover for Futures (Ref Nse Circular NO. NSE/F&A/13029 dated 7-9-2009). Even assuming that Zerodha pays at the maximum rate, it should not be more than Rs.1.9 per lakh (i.e. Rs.190 per crore) for futures.But Zerodha charges clients @ Rs.490/crore. So more than 50% of Nse transaction charges collected by Zerodha is kept with them . Similarly for Options segment, Nse charges a flat rate of 0.05% of premium which comes to Rs.5000 per crore. But Zerodha charges Rs.8000 per crore. They could have simply charged the clients the correct NSE transaction charges and increased the brokerage, if they wanted to be transparent. Hiding such vital info is not in the best interest of a growing organisation. I have nothing againt Zerodha. I only wanted to share with members that the brokerages advertised by them is not to be taken at face value only.

The extra charge you are talking about is known as clearing charge. Say for options it is Rs.5000 per crore but Zerodha is charging Rs.8000 per crore. The extra Rs.3000 per crore is the clearing charges. Every broker will charge you some clearing charges, and it varies from broker to broker. At Zerodha this is on the higher side.

 

[ganapathi]

Does Zerodha allow shorting in CNC? I mean selling today and buying tomorrow.

 

[teampower2]

Does Zerodha allow shorting in CNC? I mean selling today and buying tomorrow.

No. But you can buy today and sell tomorrow.
http://www.zerodha.com/Test/connect/blog/2012/11/btstatst-buyacquire-today-sell-tomorrow

 

[ganapathi]

No. But you can buy today and sell tomorrow.
http://www.zerodha.com/Test/connect/blog/2012/11/btstatst-buyacquire-today-sell-tomorrow

Thanks teampower for swift reply.

 

[calic]

Hi all
Is the SL-M facility available for anybody in ZT as they claim.I don't see any option available.