Zerodha....

rookitrader · Sep 15, 2011

Hi Sachin,
MCX trading is the one thing everyone is waiting for.Since you already got approval of MCX it shouldn't be much longer for FMC approval ain't it?
Disappointed as may about charting facilities for NSE, is there any chance of providing it for atleast comm. trading? ( there are not many approved for mcx data vendors and should not be problem for mcx if you get it from the beginning itself)
Wishing for the trading facilities as early as possible.

Newbie Day-Trader · Sep 15, 2011

Zerodha said:

I understand that your structure is most appealing to "big/bulk traders" & not so much to "small traders" but my point was that there are plenty of "intermediate traders" like as I've said, if I buy a SilverMic for 65,000 then I'd be better off with 0.01% brokerage (6.5+6.5) rather than (20+20) while very next moment I may trade Crude at 4,00,000 & then (20+20) becomes more appealing than 0.01% (40+40)

So my point is that with your current structure, you'll be losing out on the brokerage generated for "smaller trades" by "intermediate traders" because they'd be better off arranging another broker for their "smaller trades" at 0.01% & only do "big trades" with you at 20+20.

So with your current structure neither will you be getting the optimum brokerage nor will the (intermediate) traders like myself be able to get the optimum service that you'd be able to offer if you'd just merge your plans into "0.01% or Rs.20" sort of thing.

Just my two cents, I hope I'm not being offensive in any way.

Zerodha said:

Well, I wouldn't hold my breath till then

Who knows whatever will come out of that when one considers the fundamental nature of politics & government!

Zerodha said:

What about commodities & currencies? (just curious)

Zerodha said:

I'm not necessarily suggesting that you set up an office in Maharashtra, if I'm not mistaken, even Gujrat has SD @0.001% & they don't have any impending hike concerns. There may be other states too, who might have SD at 0.001%

Zerodha said:

Does an "average trader" have a DAILY turnover of 50 lacs to be able to get that good deal? May be, I don't really know but my point is that by setting up another NOMINAL office somewhere you could potentially divide your traders into "below-50 lacs" & "above-50 lacs" everyday & then charge the former at 0.001% while the latter could be charged according to Karnataka's SD & they'll STILL be able to avail its Rs.50/- cap. Just a suggestion.

Setting up a NOMINAL office (may be like just one or two guys sitting there

) in a state with an SD of 0.001% could make your cost-structure EVEN MORE appealing to "small" & "intermediate" traders. You've seen enough worried queries from smaller & intermediate traders in this thread about SD & there'll be many many more to come I'm sure so I'll leave it that.

Zerodha said:

I understand & respect what you people are trying to do but I wish you'd at least consider what I'm saying reagrding your brokerage-plans. It's just an honest suggestion that'll benefit the traders as well as your company.

Zerodha said:

I understand that but the question was whether I'll be charged AGAIN for opening commodity A/C, if I open an equities A/C with you right now? Same question for currencies A/C, will I be charged AGAIN for opening that as well?

Zerodha said:

And those are? Sorry, I'm a newbie so don't know :down:

Again, I'm NOT expecting specific numbers but whether margins for intraday will be above or below the MCX-specified margins, & where the overnight margins will be.

Zerodha said:

:cheers:

Zerodha said:

And those are? Again, I'm a newbie :down:

It has basic OHLC charts & volume-info, right? What is the range of time-frames offered? Sorry, just don't know.

Zerodha said:

The question was whether I'll be eligible for it if I sign up for an equities A/C right now?

Zerodha said:

Yeah, it's in my nature to be descriptive (verbose if you will :lol

& inquisitive.

And it seems you people are definitely having fun (well, average daily turnover of 1000 in the first year :clapping

& so are a lot of your traders it seems. Looking forward to it.

Newbie Day-Trader · Sep 15, 2011

Just to put this whole Stamp Duty thing into context, I'm NOT talking about saving a few Rs. for people who trade Rs.10,000 or Rs.50,000 or Rs.1,00,000 (loss of Rs.0.90/-, Rs.4.5/- & Rs.9/- respectively for each) once in a blue-moon or once in a week or a month or several months; I'm talking about "intermediate traders" (those with average daily turnover of many lacs) with decent turnover.

So for example, an "intermediate/mid-size trader" with a daily turnover of 25 lacs will be paying Rs.50/- as per Karnataka's Stamp Duty while he could be paying Rs.25/- for the same turnover as per Maharashtra, Gujrat (?) & possibly some other states' Stamp Duty, which means a trader with a daily turnover of 25 lacs is suffering an unnecessary loss of Rs.25 every day. Imagine that :down:

Similarly, if a trader's daily turnover is 20 lacs, he's suffering an unnecessary loss of Rs.30/-, it'd be Rs.40/- for a trader with a daily turnover of 10 lacs. These smaller losses every day can add up pretty quickly for regular traders & can really eat into the profits. :down:

As I've clarified before, the "benefit" of Karnataka's Stamp Duty cap at Rs.50/- is only realized by those having a daily turnover of 50 lacs or more, everyone else below is losing out on upto Rs.45/-

amit_15 · Sep 15, 2011

There are some illogical criticisms of Zerodha on this thread.

At the moment, ZO is the cheapest and most ethical broker in the industry with super fast customer service. I did some calculations for last 5 months and found that I would have paid roughly Rs.70,000 more brokerage with another broker!!!!!!

Everytime, I send ZO an email, I receive a reply within 2 hours!

The NSE NOW software is reliable and fast....much better than ODIN. It hasn't crashed once in the last 3 months.

Lastly, there is always a feeling of satisfaction knowing that ZO is following all the exchange rules and my trading account money is safe.

Long live Zerodha :clapping:

hc9001 · Sep 15, 2011

Re: Stamp Duty & outside office..

The DTC[Direct Tax Code from 2012 APRIL 1, only another 6 month] proposes:
1. Uniform stamp duty for stock market transactions through all states.
2. To abolish Securities Transaction Tax[STT].

So there is NO NEED to setting up any offices outside Bangalore for Zerodha I think.

With uniform Stamp Duty zerodha'll attract more traders like me soon

[who trades 2 to 5 lots]

Zerodha · Sep 15, 2011

Newbie Day-Trader said:

Hi Newbie,

They say "still waters run deep".....

What I meant was, what looks like a simple task from the outside is actually a very tough one, especially when we are working at our kind of margins...

The regulatory framework in India for making these kind of changes....hmmm.. what can I say, with all these regulators on our head!!! damn!!! is heavy!!!

priceaction · Sep 15, 2011

http://www.traderji.com/advanced-trading-strategies/54976-price-action-set-up-10.html rock on

reks · Sep 15, 2011

4 points I mentioned in my earlier post and people who raised their query.

5) Is there any alternative for webcam verification.

I still think Zerodha/ ILFS to find the alternative for people who do not have internet facility at home as often as you guys think.

If you arereally business minded then you guys should think about the mass population of India. Not just for those who are sitting in front of computer.

Of course you can not lie to people.

But at least you should mention to newbies that such facilities are not available with us. So they think twice to go with you guys or not.

Believe me newbie can not go directly in equity and FNO trading. FNO of course is too risky item.

Do you guys take responsibility if newbies trade in FNO and take huge losses, Its very common and high risk?

In this situation I am sure you will show them that the documents that he signed during his a/c opening.

I never say you need to lie people.

Simple, if you don't have facility just mention to people so that everyone knows about it.

Why trading a/c is opened without webcam verification while demat a/c is not

I see here lots of people facing problem in this issue.
SEBI rules should apply for both?

Now you agree that Zerodha and ILFS do not coordinate each other. In another way ILFS does not believe Zo ?

You can not make your own rule for documentation.

Let me ask, can you open an a/c without PAN card. I am sure "no".

This is not your rule. I agree with it that newbies must submit required documents which are under rules We all know this is under "RULES" for every brokers and banks.

if you make your own rule . Ok you can but you must have alternative for that so people can access easily

SEBI/RBI did not ask such unauthentic verification process.

This is created by individual which is unacceptable at least for me. and I am sure lots of other people faces such problem too.

You guys should come up with an alternative as I deeply thinks.

Read above, your statement agrees with this even.

Thanks. otherwise you could ask me to send a personal mail again for any query.

Guys, is it the waste of time to keep open debate with Zerodha?

This I leave up to readers to answer if they wish.

It's just for people to aware before going with any new brokers.

Newbie Day-Trader · Sep 15, 2011

amit_15 said:

IF you're referring to my posts regarding Stamp Duty then let it be clear that it is NOT a "criticism of Zerodha", they're not charging the Stamp Duty, government is so there'd be no point in blaming them. Mine is just a suggestion & a query to them whether they can implement my suggestion or not but it is NOT a "criticism".

hc9001 said:

Well, Lokpal bill was first introduced in 1969 & well....you get the point, right?

This is how governments work so as I'm not really privy to all the details regarding DTC & its progress, is it now written in stone or something? Is there no chance that it'll be delayed or postponed or anything like that as it usually happens with government matters?

Zerodha said:

Well, I can understand, you truly are running on thin margins (kudos to you for that :clap

. As I've said, it is just a suggestion & I certainly won't claim to being privy to all the variables involved in implementing something like that, you people will always be in the best possible position to judge whether its feasible or not while still keeping yourselves profitable. It was a query like "can you do this to further cut our costs?" rather than a demand like "oh, you must do this or you're not providing a good service".

Please address other queries in my previous post.

hc9001 · Sep 15, 2011

Re: Web Cam verification....

Only one who sitting in front of computer(with Internet) can able to use NSE Now Terminal (hence Zerodha).
And when one have a PC with internet, what is problem with web cam? (WebCam costs only Rs 200-350.) Is it a big problem? :rofl:

Thread starter	Similar threads	Forum	Replies	Date
N	Coin app by Zerodha	Exchange Traded Funds	1	Jun 8, 2023
B	Signed up for zerodha using aadhaar	Brokers & Trading Platforms	2	May 17, 2021
C	Does margin requirement change 5 times a day (for put or call option selling) with all the brokers or just few brokers like Zerodha?	Options	2	Mar 16, 2021
	Zerodha get caught here	Members Discussion Forums	0	Mar 13, 2021
P	Finvasia or Zerodha	Brokers & Trading Platforms	56	Jan 4, 2021

Zerodha....

rookitrader

Member

Newbie Day-Trader

Well-Known Member

Newbie Day-Trader

Well-Known Member

amit_15

Well-Known Member

hc9001

Well-Known Member

Zerodha

Well-Known Member

priceaction

Active Member

reks

Member

Newbie Day-Trader

Well-Known Member

hc9001

Well-Known Member

Similar threads