Zerodha....

[reks]

Well said PGDIMES. Some are trying to take advantage of the positive criticism in this thread, by waiting to see if someone posts any cons about Zerodha.
Though I am waiting for my demat account to be opened with ILFS for more than a month now, I agree with all your points.

Few experience with my current demat account provider-
I never got a reply from my current demat account provider for any of my emails. After sending followup emails and waiting for long days, I tested if their email id works by sending from a new email id saying, "I like to open an account with you, Can you tell me the procedure?".
Gues what ?
Within few minutes, I received 2 emails from different people telling me what all I need to submit.
I replied them asking will they maintain the same level of response if I become the customer ? and asked them if they could reply to my earlier emails. Thats it, they disappeared.

They have a customer service number, but none picks up the call. Once in a blue moon someone picks it up, and say please send email. They don't understand if I say nobody is replying to that email id.

I changed my residence and tried changing my address at my demat account. I submit the change of address form directly to the office where I submitted the Account opening forms. It got rejected saying the address proof (my Indian Driving License) is not proper because there was not a pin code printed in it. They are the only one who didn't accept my Driving license copy as address proof.
Then after few days, I submitted my bank passbook copy as address proof. This time the guy said, we need a signature from the bank manager that this is the exact photo copy of the passbook. I had my passbook at hand and asked him to verify the copy himself. But he only need the bank manager's sign and seal. The funny thing here is, the account of bank passbook I gave them and the demat account provider are the same. I could see the demat holdings online at my bank account. I fed up and gave up the address change process.Till now the address has not been changed, and missed few cheques from stocks. I need to followup with the stock company to resend me the cheque proving them that I havn't received the cheque.

ZERODHA looks far far better.

Sorry for the long post.

Regards,
Sameer.

In the beginning every mail or phone calls were attended and now its getting worst. That is how Brokers works after few years.

You have rightly said that when you ask them to open account then they immediately reply.
But thye dont address the pending issues of the customers.

Lots of people are having demat account pending or other pending cases.

If Zerodha knew that ILFS would not let you fly far away, then why did not you come up yourself providing the Demat cum trading a/c facility?

I think its time to kick ILFS for providing Demat service and Zerodha itself should start their Demat service.

 

[sam2trade]

You have rightly said that when you ask them to open account then they immediately reply.
But thye dont address the pending issues of the customers.

I was mentioning about my current broker, not ILFS or Zerodha.

 

[reks]

I was mentioning about my current broker, not ILFS or Zerodha.

This also true with Zerodha too.

It's common with all brokers to do so after some time

So we must be careful.

 

[shekharinvest]

Sorry Dear....and you were telling ICICI and KOTAK to be typewriters...instant transfer between accounts...within seconds...and people are going to Zerodha for brokerage....Its like getting a discount on HAMAM soap...point is whether we can get a discount on DOVE ....THE SYSTEMS AND processes at both these firms are excellent.....and till now I have not encountered most of the problems people have been facing in NSENOW...let their system mature a bit...till then try to stick with tried and tasted....

Yes, Zerodha needs to have a look at Kotak website as well as their Keatpro desktop version. They are quite user friendly.

I am not tech savy yet it is quite easy to use. I never had any issue with respect to understanding and using the facilities offered by Kotak.

After being with zerodha for more than 6 months I am still to have the feel of the back office and web based version. Somehow I have managed to use NOW this too is a bit complex in comparison to Keatpro.

I am sure ppl at Zerodha must be aware of all these things and they shall be offering an enhanced experience in trading some time soon.

But at Zerodha brokerage and customer service is something to cherish about ( Which I frequently use to unblock the user ID) :clap:

SHEKHAR

 

[Zerodha]

HI ZERODHA,
I have a query, I cant trade online so I would like to know whether I will be able to trade if i open an account with you?? How reliable is your offline or call and trade service?

We prefer online clients... You can also use the mobile app which works very good... But, if you wish, you can always call n trade... Pretty decent sized desk, so you shouldn't have any issue as such...

Cheers...

 

[respectinvestor]

Did I ever say that Zerodha's pay in facility is not instant!!! I have seen enough of this b******t systems and processes of ICICI and Kotak. :rofl::rofl::rofl:

One of the members of TJ known as Iatma has shown us glimpses of the best trading platform of Kotak... Last year ICICI took a whole trading day( maybe two) to maintain their so-called well-established system... so on and so forth...

Don't have doubts on the following points:

1) NSE NOW is the fastest trading platform I have ever used from Indian brokers.
2) Zerodha is the most responsive broker I have ever encountered with.
3) They are also honest in their dealings.
4) Mails sent to them or calls made are properly addressed.
5) Almost all of the Zerodha customers are satisfied regarding the trading experience (demat account is a separate thing).

Whatever we suggest in this thread are mainly to help them make things better. It should be taken as positive criticism where we ask them to plug the minor loopholes for the most pleasurable trading experience.

A few more advices that can be given to Zerodha:

1) The ledger balance is some kind of hotchpotch to understand. In ODIN one can have clear idea of the amount that can be withdrawn at the end of the day. This thing is missing in NOW.
2) Pay in and Pay out should be added to the NOW Platform.
3) Charts!!!
4) ILFS lazy bums... :rofl::rofl::rofl:
5) Turnover charges!!!
6) Reduction in brokerage for single lot options traders

Agreed PGDIMES....AGAIN the point is exceptions do not make a rule...if someone has shown glimpses of keat prox it does not mean everyone is having same problem...for that matter every now and then through my trader friends I keep on listening about problems in NSENOW....for which again ZERODHA can not be held responsible...Technology can not be perfect...I agree with you 100%...every platform has issues...u name it...I have been privy to most of them....point simply boils down to which of these has least of problems....and reliability is another issue of course....Zerodha...they are definitely good peaople...I will be opening an account with them soon...and what I write is not to bring down Zerodha...point is simple...at every platform u will have issues...the least the better...Kotak has least of it...and I am a full time trader...9-3.30 type...

K

 

[Zerodha]

Sorry Dear....and you were telling ICICI and KOTAK to be typewriters...instant transfer between accounts...within seconds...and people are going to Zerodha for brokerage....Its like getting a discount on HAMAM soap...point is whether we can get a discount on DOVE ....THE SYSTEMS AND processes at both these firms are excellent.....and till now I have not encountered most of the problems people have been facing in NSENOW...let their system mature a bit...till then try to stick with tried and tasted....

@respect,

we have had one instance of downtime in the last year and a half on NOW... NOW is a dealer terminal and definitely takes getting used to... A dealer terminal has so many more features compared to a client terminal.... But as I said, once you are used to a gearless vehicle, if you start off on a geared one, it takes getting used to.... If anyone needs help understanding, we are open to getting online and taking you through a complete demo... You need to ask for it though....

Customer service, I have traded with a lot of brokers and I can vouch that we provide a better customer service than anyone else...

Most of us today have a point of view on a product, even if you haven't used them or don't even know how it works... I am totally open to taking any criticism from a client of ours who wants an improvement in any aspect of our business....but it is like saying, without even opening an account with say an icici bank, telling that they are bad...

We are focussing our business for active traders and in that sense it is a niche product... An average f&o trader has 1lk in his account and puts atleast 2 to 4 trades a day... sums upto 10 lots of nifty futures or probably 20 lots on options.... This is an average... with an icici or kotak you would probably pay atleast 1000 in brokerage and probably Rs 100 with us.... If you consider 250 trading days a year, you would have paid 2.5lks as brokerage compared to just 25k with us...

Can an average trader make 2.5times his capital just to breakeven??? You would be paying 25k with icici/kotak just as service tax on this 2.5lks brokerage and that would be all the brokerage you would be paying with us...

Now if you are not this average trader, you buy 1 mininifty/nifty once a week and do 10 trades a year, we may not really save you a lot of money, because you don't really generate any brokerage...

We haven't sent 1 spam sms, made 1 telemarketing call, spam email, advertising asking anyone to join us... Our business is focussing on giving an edge to an active trader beat others in the market, by giving a good(fast and reliable) trading platform, good customer service at the lowest cost........ If we are not sticking to this commitment, give us a shout...

Cheers...

 

[respectinvestor]

Well said PGDIMES. Some are trying to take advantage of the positive criticism in this thread, by waiting to see if someone posts any cons about Zerodha.
Though I am waiting for my demat account to be opened with ILFS for more than a month now, I agree with all your points.

Few experience with my current demat account provider-
I never got a reply from my current demat account provider for any of my emails. After sending followup emails and waiting for long days, I tested if their email id works by sending from a new email id saying, "I like to open an account with you, Can you tell me the procedure?".
Gues what ?
Within few minutes, I received 2 emails from different people telling me what all I need to submit.
I replied them asking will they maintain the same level of response if I become the customer ? and asked them if they could reply to my earlier emails. Thats it, they disappeared.

They have a customer service number, but none picks up the call. Once in a blue moon someone picks it up, and say please send email. They don't understand if I say nobody is replying to that email id.

I changed my residence and tried changing my address at my demat account. I submit the change of address form directly to the office where I submitted the Account opening forms. It got rejected saying the address proof (my Indian Driving License) is not proper because there was not a pin code printed in it. They are the only one who didn't accept my Driving license copy as address proof.
Then after few days, I submitted my bank passbook copy as address proof. This time the guy said, we need a signature from the bank manager that this is the exact photo copy of the passbook. I had my passbook at hand and asked him to verify the copy himself. But he only need the bank manager's sign and seal. The funny thing here is, the account of bank passbook I gave them and the demat account provider are the same. I could see the demat holdings online at my bank account. I fed up and gave up the address change process.Till now the address has not been changed, and missed few cheques from stocks. I need to followup with the stock company to resend me the cheque proving them that I havn't received the cheque.

ZERODHA looks far far better.

Sorry for the long post.

Regards,
Sameer.

Well no one is trying to take advantage of any criticism ...point is very simple...when people in this forun have been quite vocal in expressing their opinion do you think ZERODHA should be left out of it...it creates a doubt in my mind whether someone has purposely foated this forun and giving great reviews.....any criticism appears to be a conspiracy against ZERODHA....NSENOW still needs to mature as a trading platform...this is the reality heard thrugh my trader friends who trade through ZERODHA...good thing about them is their responsive nature...their transparent brokerage structure....and some people have been trying to tell the world that ZERODHA ..does not give margin on shares...and so it is safe...this is pure crap....they do not have systems and processes at place to offer this facility...its as simple as that....not because they wont like stock exchanges to go down under....do u want me to believe these craps also...come on everyone has its plus and minuses...overall from what I have heard ZERODHA has more plusses than minuses....and it needs to be encouraged for bringing a revolution in brokerage...now more and more of broking firms will have to charge less brokerage thus benefitting we...the customers...

 

[Zerodha]

Did I ever say that Zerodha's pay in facility is not instant!!! I have seen enough of this b******t systems and processes of ICICI and Kotak. :rofl::rofl::rofl:

One of the members of TJ known as Iatma has shown us glimpses of the best trading platform of Kotak... Last year ICICI took a whole trading day( maybe two) to maintain their so-called well-established system... so on and so forth...

Don't have doubts on the following points:

1) NSE NOW is the fastest trading platform I have ever used from Indian brokers.
2) Zerodha is the most responsive broker I have ever encountered with.
3) They are also honest in their dealings.
4) Mails sent to them or calls made are properly addressed.
5) Almost all of the Zerodha customers are satisfied regarding the trading experience (demat account is a separate thing).

Whatever we suggest in this thread are mainly to help them make things better. It should be taken as positive criticism where we ask them to plug the minor loopholes for the most pleasurable trading experience.

A few more advices that can be given to Zerodha:

1) The ledger balance is some kind of hotchpotch to understand. In ODIN one can have clear idea of the amount that can be withdrawn at the end of the day. This thing is missing in NOW.
2) Pay in and Pay out should be added to the NOW Platform.
3) Charts!!!
4) ILFS lazy bums... :rofl::rofl::rofl:
5) Turnover charges!!!
6) Reduction in brokerage for single lot options traders

pgd....

There are certain limitations that we have and hopefully you guys understand the same...

DP forms less than 1% of our business and we don't want to focus our energy on demat accounts.. atleast for now... eventually we will move to our own dp...

Payin is already incorporated, go to market, weblinks and payin.... if you don't see payin, reinstall the platform... you will see it there...

Other bits, should slowly start off...

Cheers...

 

[my investment]

@akash, the new SEBI rules on margins has become a pain in the _ _ _ .... All the brokers are pushing to revise the same.... waiting for some clarity from the exchange to figure a workaround for this....

Even Edel, if the SEBI rules stay, will revise the margin rules set for you... The penalty is 10% for the margin short more than 1lk...

Waitin for some clarity, will get back to you on this...

Hi Zerodha i also wanted margin like him but not to trade stock futures but to sell nifty futures/options against RIL /ONGC SBI ECT

As far as I understand there is no requirement for 50% cash margins as asked by u i currently trade with Religare yes the margin has to be completely there
but SEBI does not say any where that it needs to be in for of 50 % cash

Zerodha pls try to provide the facility to two of us and also other people who might be intrested

I am sure there is no problem other that readiness from your side :thumb:

REGARDS
MAYANk