Zerodha....

[ushasunil]

Hi Zerodha,
I have demat account and an online terminal from another broker. Can i open an account with you since you provide less brokerage on options. Should I have to open demat account again with you? is it alright to have 2 demat accounts? I personally prefer to have only one demat a/c. Please clarify and send me the details if i can be your customer.
Thanks.

 

[VJAY]

Hi Zerodha,
I have demat account and an online terminal from another broker. Can i open an account with you since you provide less brokerage on options. Should I have to open demat account again with you? is it alright to have 2 demat accounts? I personally prefer to have only one demat a/c. Please clarify and send me the details if i can be your customer.
Thanks.

Dear ushasunil,
You no need to open another DEMAT a/c with zerodha....you can connect your present D a/c with zerodha..... buy only equities...unable to sell it through Zerodha....but you can trade f&o in zerodha.....without demat a/c with them......

 

[avrocker143]

Hello sir,

I am a new trader of now express. So please solve my problems.
1. If i buy 1 lot of 5400CE at 15rs and again i buy 2 lots of 5400CE at 17rs then if i want to square off only 1 lot (my first lot 5400CE at 15rs) so how do i do it in Now Express(web version).

2. Please tell me what is work of this button ( position co...)


Thanks

 

[Newbie Day-Trader]

Hi Sachin, how are things?
Would it be safe to assume that commodities trading could take around Oct end to kick off?
Haven't been following this thread for a while and checked to see the latest on your MCX offering. I can see some serious bawling by the usual suspects.

Am butting in to add my two cents - I live in Bangalore and had recommended Zerodha to a friend of mine as his wife was planning to quit her day job and take a shot at trading. The IL&FS folks went to her workplace for verification as she couldn't take time out to pose in front of a web cam. This has happened with a lot of folks(in Bangalore) who couldn't get in front of a web cam for verification. I don't know how IL&FS goes about its business of verification in other cities. For those who trade multiple times and on multiple scrips would certainly value the flat Rs.50 stamp duty. A few lots of nifty here and there... a couple of lots of Axis bank, SBI, TCS , INFY, L&T and other F&O index heavyweights etc can really add up had it not been for the flat stamp duty Zerodha charges us. A rupee saved is as good as a rupee earned. A lesson I learnt the hard way..

It was very kind of ILFS guys to have done so much for your friend's wife but we're not all in Bangalore you see

As for Stamp Duty of Karnataka goes, as I've explained before, all you need is an understanding BASIC MATH to realize that considering the rates of some of the other states, unless you've a daily turnover of above 50 lacs, you'd be overpaying on Stamp Duty. So you've a turnover of above 50 lacs? Great! But what about others who don't?

Further, nowhere have I suggested that people above 50 lacs shouldn't benefit from Karnataka's Rs.50 cap (I, as a commodity-trader, would be one of those on many days); all I've suggested is that if it's possible then Zerodha could open a NOMINAL office in another state with lower SD & then charge traders below 50 lacs as per that state's SD at 0.001% while traders above 50 lacs could STILL avail the benefit of Karnataka's cap This could help Zerodha to get more smaller & intermediate traders on-board by optimizing their costs further.

Moreover, I've also said that I'm NOT privy to all the variables involved in implementing such a thing & that this is just a SUGGESTION & definitely NOT a "criticism of Zerodha".

And since you so very well understand the value of every rupee saved, you should sympathize with the fact that -

a trader with a daily turnover of 25 lacs is suffering an unnecessary loss of Rs.25 every day. Imagine that

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.

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/-

 

[ushasunil]

Dear ushasunil,
You no need to open another DEMAT a/c with zerodha....you can connect your present D a/c with zerodha..... buy only equities...unable to sell it through Zerodha....but you can trade f&o in zerodha.....without demat a/c with them......

Hi vijay,
Thanks for the info. Can I trouble you more?
1. Then can I not buy equities from Zerodha?
2. If I have equitites purchased from another broker, then can I not sell it through zerodha?
3.I can trade only in f and o with zerodha caz I have 2 accounts?
4.for intraday is it acceptable to buy from one broker and sell through another?
5. Thanks and Regards
~usha~

 

[Newbie Day-Trader]

Hi vijay,
Thanks for the info. Can I trouble you more?
1. Then can I not buy equities from Zerodha?
2. If I have equitites purchased from another broker, then can I not sell it through zerodha?
3.I can trade only in f and o with zerodha caz I have 2 accounts?
4.for intraday is it acceptable to buy from one broker and sell through another?
5. Thanks and Regards
~usha~

1. You CAN buy and sell equities intraday but you can ONLY buy for delivery but NOT sell them IF you don't have a demat with Zerodha because Zerodha wouldn't be able to debit demat that belongs with other broker, only that broker can debit (sell) from it.
2. NO, if you don't have a demat with Zerodha but if you want to sell them through Zerodha then you'll have to open a demat with Zerodha & transfer equities from the other broker's demat to Zerodha's demat (which'd be quite unnecessary unless your other broker is charging much higher charges)
3. Yes, you can have 2 demat or trading accounts with 2 different brokers.
4. There's no such concept as "buying/selling FROM a broker" in intraday, you buy/sell on the "market".

In short, you can open only a trading A/C with Zerodha (no demat A/C) & buy and sell equities intraday (& F&O) but you can only buy equities FOR DELIVERY but can't sell them through Zerodha because they'll be credited in your demat with another broker which Zerodha can't debit (sell) from.

 

[ushasunil]

1. You CAN buy and sell equities intraday but you can ONLY buy for delivery but NOT sell them IF you don't have a demat with Zerodha because Zerodha wouldn't be able to debit demat that belongs with other broker, only that broker can debit (sell) from it.
2. NO, if you don't have a demat with Zerodha but if you want to sell them through Zerodha then you'll have to open a demat with Zerodha & transfer equities from the other broker's demat to Zerodha's demat (which'd be quite unnecessary unless your other broker is charging much higher charges)
3. Yes, you can have 2 demat or trading accounts with 2 different brokers.
4. There's no such concept as "buying/selling FROM a broker" in intraday, you buy/sell on the "market".

In short, you can open only a trading A/C with Zerodha (no demat A/C) & buy and sell equities intraday (& F&O) but you can only buy equities FOR DELIVERY but can't sell them through Zerodha because they'll be credited in your demat with another broker which Zerodha can't debit (sell) from.

Hi,
Thank you for the useful info. Now I have decided to open both demat and trading account with zerodha, because it may be easy for me in all the transactions. Thanks again.
usha

 

[columbus]

Hello sir,
2. Please tell me what is work of this button ( position co...)

POSITION CONVERSION for converting intraday position to delivery position
and useful for Equities mainly.

 

[reks]

Regarding this webcam verification and internet access. When I opened my account, I had a friend take a video of me with the pan card visible clearly on a digital camera, transferred it to the computer, and e-mailed it to Zerodha. Account was opened in 1 day.

I agree with you and hope this applies for everyone who are facing such problem now a days.

That is what exactly I asked Zerodha/ ILFS to come up with alternative earlier too.

To my surprise now ILFS/Zerodha says, they only require webcam verification for many of the newbies.

I am just wondering tomorrow they will say your PAN card/or bank statement might be fake.

They love to see face of their clients and that is the only documents they require. They don't care about other documents.

This is too funny to me at least.

You (zerodha) might make your own rules but you are not as big as RBI/ SEBI. You should come up with alternatives.

Who knows tomorrow you might shut down your shop and run away if your business get huge losses.

Hence we people should be aware of such things.

I still remember (not me) some of my friends are asked only to come on webcam for verification.

Many of them mentioned its not possible to come online and do such webcam verification. (agree with this because they have more committed to their work [mentioned one of the fellow people here about a Doctor too)

Other reason he/she might be business person and might be a remote area etc etc.

Zerodha knows how many cases still pending because of this.

But this is a small issue and if they don't come up with alternative they will loose their business one day.

I am more concern about the charges that they mentioned and attract people.

I still want to highlight to readers to be more careful with such so called cheap brokers.

This applicable on those brokers ( e.g Zerodha is one of newly borned) who attract customers just Rs 20 to 25 less than other brokers.

Which I basically things not a great deal when your hard earning is with unsecured place.

rgds,

 

[Aarav11]

Not able to Login NOW. Getting Stuck at 35%. Any one facing the same problem.