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Zerodha

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Re: new cheapest broker is here. Zerodha

@zerodhaonline

hi in my initially post I was writing to one of the members and you probly posted the same time as I was a posting a post directly to you so it looked repeated sry fr it but I felt its better to get the things cleared....

I have some more queries.....



1. The NSE NOW software that you are providing. Is the software version NEAT I read in one post where you wrote (web NEAT). I did not understand it sry but can you explain.

2. How will you give training to your clients such as me. There is no manual on the site nor any videos to how to use the software.

I request you to see the Power Indibulls site as they have done pretty good job with addressing each and every feature of the software. Please see the link you will understand what I mean.


http://power.indiabulls.com/PIBHelp/Index.html

Also see Angelbroking website as they have done good jobs with the videos on how to trade with the software.

3. Sometimes what broker such as mine Indiabulls do is they cut of their default limit of 12 times or any other limit to half i.e 6 times and it will be halfed in FnO segment too I guess without informing their clients about it ( I have no idea what does RM do and why he is getting paid by us if they cant even do that you obviously dont have any RM system ).

My question is do you have any such case where you will half the exposure limit in nse cash market and FnO without informing us ??

4. In any circumstances will you start the auto sq off before 3.10 or 3.15 by yourself ? please mention the situations if that can arise and will the client be informed before you do that ??
In case of Indiabuls it arises only and only if client looses 80% of their a/c bal.

5. Where can we get info on the ppl that are working with you in your management team yes I know its on the website but how can we confirm the same that what its written about them its there and they are actually associated with have interest in the company.

6. You are undoubtedly the cheapest brokerage service provider currently in the country now....because of that you will obviously have rapid increase in your client base I am also thinking to shift to you too completely but only think is say you in 1 to 3 yrs you get say 1 million clients will you able to assure :

Qualty of your service is not hammered
Speed/breakdown while trading wont happen (I guess that wont happen since sofware is connected with nse)

Quick redressal of the queries or complains as you are doing it now.....

there is another co. before you it was the cheapest now its the second cheapest lol.....RK Global but they have low quality service and top of that disconnection from terminals specially during peek hrs.....that is pretty much the reason they lost clients and new ppl are not willing to trade with them so nothing like this in your case right :D






If I do a simple search I can easily get info on the ppl and all kind of co. info. on the known brokers in India or even abroad but I couldn't get much as I tried searching the names in your management team...

The above doubts sum up my queries and I am ready with a/c opening with you :-D



thx
Hi Karan,

you can look at a glass as half full or half empty.. I am looking at it in the optimistic way( half full), my typing speed is going up with every reply.. :) ....

1. explained in previous post..

2. We are working on the video, It is a very basic dealer terminal and very easy to understand. F1 for buy, F2 for Sell, F3 for order book, F8 for trade Book, alt F6 for net position( netwise and daywise(positions of the day)) .. f11 for admin positions(total positions) and surveillance+Rms limits+ view limits for seeing the margin available... :) .. that is how simple it is .. We have a user manual on our website(TRADE NOW and then you can see user manual on the right bottom)
We are working on the video though, should be up by 18th Dec..

3. Intraday margins on futures is based on SPAN margin decided by exchange.. Today span margin for nifty is 20k, tomorrow if market gets really volatile it can go up to 25k .. But it will not happen on an intraday basis.. Exposure limit is set before markets.. To answer your question, no we will not increase exposure margin intraday...

4. We do intraday square offs between 3.15 and 3.30pm.. But I can't guarantee you when it will happen exactly..

5. Not a very fair question to ask.. But you are welcome to visit our office anytime and fix appointments with whoever you want to meet...

6. You solve a problem when you encounter them.. We are having no issues in regards to customer service, so if you ever have a problem with us will be happy to address them then...

7. why do u want our promoters to be visible on the internet?? The problem in India today is that businessman are egoistic.. Big for a businessman is more offices, more people , plush offices, acknowledgement from anyone and etc... We are doing business differently today, even Nithin who heads will go and open an account for a trader with 5k in his account if all the other executives are busy...
I understand your concern, but the same question you are asking one too many times... Looking forward to have you as a client... Cheers...
 

Zerodha

Well-Known Member
Re: new cheapest broker is here. Zerodha

Zerodha,

Would like to know the following:

1. I would like to transfer from my wife account with ICICI to my account with you though I had given my ICICI account in the forms, would it matter.

2. Alternate, could I deposit the Cash in your HDFC Account at Mumbai Branch.
Funds can be transferred in and out of the trading account from the bank account of the holder of the trading account... So if your wife has a trading account with us, we would have mapped her bank account to the trading account.. Anytime you want to transfer funds in or out of the trading account, you need to use the same bank account..

No Cash can't be deposited..

Cheers...
 
Re: new cheapest broker is here. Zerodha

Your back office zerodha

even though volume analysis gives some idea of profit loss,, it does not give any idea of the net profit loss because it does not take into account the stt and other statutory charges.....pl do something in this regard (profit loss statement for cash segment )
 
Re: new cheapest broker is here. Zerodha

:clap: i love that words !

The same question, I asked to one of the leading brokerage houses. The manager, just smiled.. he asked me not to ask these qeustions in front of clients...

Hi Karan,

If you just read what I posted, it is like repeating the same thing over again...anywys..

It is not about why we are charging so less, it should be why the others are charging so much.. When an online trader never visits a brokers office even once in his life, .......
But it is cool to have these queries, as it is your money... :) ... Have a good weekend... Cheers... Sachin
 

Zerodha

Well-Known Member
Re: new cheapest broker is here. Zerodha

Your back office zerodha

even though volume analysis gives some idea of profit loss,, it does not give any idea of the net profit loss because it does not take into account the stt and other statutory charges.....pl do something in this regard (profit loss statement for cash segment )
We are already working on it... The profit loss statement should be updated in the next 15 days...
 
Re: new cheapest broker is here. Zerodha

Dear Zerodha,

I have opened an account with you and started trading in a small way....my experience of your service so far has been excellent.

All the money received from the clients have to be deposited in a separate " clients' account ". Broker cannot use this money for his expences . But this account is meant for meeting the payout obligation towards clients and aslo meeting margins/M to M of various trading clients . Please clear my following doubts :

1) I understand that the "clients' account " is a separate account but it remains with the broker. The broker can easily remove all amount from this account if he likes (though at later date he will have trouble with SEBI and NSE audits) .Do NSE /SEBI have any control on this account on day to day basis ? ( something like the cash cannot be withdrawn from this account or the account is enabled for transfer of funds only to NSE settlement account ?)

2) Is this account used for settlement obligations of the client to the extent of that client's credit and other clients money is not at risk if a large client suffers huge M to M losses which he cannot honour. Is there any control on how much amount is used for each client and ensuring that the amount exceeding clients credit is not used to fund his M to M losses. In other words what is the safety of other clients' money ?

These questions are more relevent as the clients donot have personal contact with you/your set up and also they are not very important when one is trading with margin amount of less than say Rs 1 Lakh but they become very important when we have to think of putting in larger margins to trade in larger volumes.

Neither doubting your intentions nor capabilities but answers to these questions will go a long way in developing a trust between client and the broker which is the base of our business.

Best wishes,

Smart_trade
 
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superman

Well-Known Member
Re: new cheapest broker is here. Zerodha

is he is talking about il&fs dp transaction charges 15 + dp charges...

is every dp charges it ? why ?
Thats delivery out charges from DP..(if shares of a particular company/scrip present in demat account gets debited)
Dont know about others but NDSL charges 11rs per delivery out

Didn't knew this before but geojit told me this 6 months ago
Please be informed that every client has to pay Delivery Instruction charges to the NSDL for selling the shares and the amount will be debited from your trading account every week .

Shares selling from Holding- Rs 11/- per scrip

Shares selling from Pool- Rs 10/- per scrip
 
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