Zerodha....

[sumosanammain]

dear sunny1,pls give the link , we will know, why the difference made by broker..?:thumb:

The following is based on a trader who trades 200 Nifty... ( 4 lots ), 5 times a day, which is normal for a day trader. At least most day traders.


Transaction charges charged by Indiabulls is 600 per crore.
Zerodha is charging 530 per crore. You save a small amount here in zerodha

Stampduty is 500 per crore in Indiabulls. On a good turnover day you pay more than 550 rs in stamp duty to Indiabulls

Stampduty is 1000 per crore in zerodha , BUT MAXIMUM of rs 50 per day. So, you save a lot on stamp duty. Roughly 500 rs per day.

As for brokerage, least is 1 paise at Indiabulls,and if you trade 200 nifty, 5 times a day, you end up paying about 1350 to Indiabulls as brokerage alone. In zerodha, you pay a maximum of 200. Here you save about 900 rs per day.

Some brokers charge 350 per crore as transaction charges, because that varies with the brokers turnover, and reduces over a period of time. Hence the small difference.

Also, if you trade just 1 lot at zerodha, you are going to have to pay higher stamp duty, as you have not reached critical mass to take advantage of max 50 rs per day as per Karnataka laws.

Whoosh. Zerodha, I need you to reduce my bkg to 15 per order, after this post

I am sure Sachin knows for sure who I am by now

 

[Zerodha]

dear sunny1,pls give the link , we will know, why the difference made by broker..?:thumb:

Thanks Sunny!!

@option trader,

here is how it works, have been with Zerodha from conception, so am able to answer these questions which most of the relationship managers, V.P's etc don't have a clue about... If you ask them, they probably give you an answer which is a product of their imagination...

You trade options i suppose....

In the Exchange when you trade options, there are a few things that happens at the exchange level..
1. Your trade is executed by the trading member..
2. Your trade is settled by the clearing member, the clearing member makes sure that your trades are settled. Clearing is basically like a backoffice work for your trades..

Today, most of the brokers outsource the clearing job to professional clearing members, the reason they outsource is because clearing is like a very low margin business and only if your volumes are really really high does it make sense to do it....

So ILFS is India's largest clearing member, followed by edelweiss and a few others...Most of the mid sized brokers and a few big brokers have outsourced the clearing. Even Indiabulls outsources their clearing....

You as a client will have no idea on who is clearing your trades, because the broker doesn't have to share that detail with you...

Every trade you do on NSE, NSE is a business it has to make some money right?? So NSE charges what is called as NSE transaction charges, which again reduces as and when the broker's volumes increases on the exchange... So Zerodha which is a newer member will have higher transaction charges to pay the exchange than icici who has huge volumes... Secondly, when you are using a clearing member, the clearing member has to make some money?? again the clearing member keeps reducing his charge as and when the volumes of the broker goes up....

What is the difference?? could be anywhere between Rs 100 to Rs 300 per crore, CRORE!!! ...an icici charges you 0.05% , Rs 5000 per crore.. They self clear their trades, and hence their transaction charges(NSE+clearing) will show the least... But what you need to realize is they are making so much brokerage anways....

Because you trade options let me give you an example...

Assume you buy 10 lots of options premium at 50(nifty options) and sell 10 lots at Rs 51....

Rs 2500 premium per lot, for 10 lots Rs 25000 is what you buy...
Selling premium is Rs 25500...(@51)...

Brokerage with us : Rs 40 (20 +20)
With others: Rs 200 to Rs 1000 ...

Transaction charges: Rs 40 with Zerodha..
With others: Rs 32 to Rs 45 ...

Can you understand how insignificant it looks...

Hopefully I am able to make you happy atleast by this answer... ...

Cheers...

 

[Zerodha]

I am sure Sachin knows for sure who I am by now

... Sumo... atleast some people are havin fun doing this... ...

 

[sumosanammain]

... Sumo... atleast some people are havin fun doing this... ...

Dint understand this post

 

[Zerodha]

Dint understand this post

I meant, 95% of the traders seem on the edge all the time, they forget the fun part of trading and life... It is nice to have you here who can see the fun in everything... ..

 

[jyotixxx]

Hi zerdha
plz answer my doubt:

Suppose i sold 5 lots of nifty 10 days back strike 5550 @30 and intending holding the position till expiry.

Now today market turned bullish and nifty jumped back to 5470 level and price surges back to 35

my position is still out of the money and i still want to hold my position with a view that nifty will expire below 5500 mark and i will get the profit.

Will there be any change in margin requirement to continue my position?

How do i know in zerodha what is my amount of margin currently blocked and any extra if i need to add during changes in market??

How do i know my square off trigger price depending on my current margin??(in icici we see a trigger price which is very help full)

does all mis order get squared off same day? Can it be hold?

I cannot place a nrml order from my mobile now application, shows order rejected no permission!!!!

Plz reply..............

 

[jyotixxx]

hi,

a few phones of nokia have the symbian which is not supported... Try to get a blackberry or an android phone... You could probably get a blackberry in your budget.... Works nice on a blackberry...

disagree....

I found nokia e series is more responsive than android....htc desire...as i hav both...even it works well on n8

 

[Trading Sag]

NOW 1.5.7.1 available on Zerodha's website

 

[newbie12345]

NOW 1.5.7.1 available on Zerodha's website

Flashes an error when I exit - "Error while destroying hotkeys window"
and the windows send error dialog pops up. Is it just me or are other users also facing a similar problem?

I am using Windows XP SP-2.

 

[Sunny1]

Flashes an error when I exit - "Error while destroying hotkeys window"
and the windows send error dialog pops up. Is it just me or are other users also facing a similar problem?

I am using Windows XP SP-2.

No problem here. I am using vista.