Zerodha....

[gingee]

I think if zerodha could put all these nse mcx currency on metatrader 4 platform and give it to us it will make life of a trader very easy

as metatrader will help in charting etc and is a very popular software

zerodha instead of zeroing on nest and now and so on should just give mt4 and rock on with great brokerage

Time for management to act

 

[coolcorner78]

@zerodha, do they have NEST for iPhone?

 

[GTji]

Below is an excerpt from wikipedia Day_Trading. Is it true?

Brokerage
Day traders do not use discount brokers because they are slower to execute trades, trade against order flow, and charge higher commissions than direct access brokers, who allow the trader to send their orders directly to the ECNs. Direct access trading offers substantial improvements in transaction speed and will usually result in better trade execution prices (reducing the costs of trading).

 

[msa5678]

Below is an excerpt from wikipedia Day_Trading. Is it true?

Brokerage
Day traders do not use discount brokers because they are slower to execute trades, trade against order flow, and charge higher commissions than direct access brokers, who allow the trader to send their orders directly to the ECNs. Direct access trading offers substantial improvements in transaction speed and will usually result in better trade execution prices (reducing the costs of trading).

That is true, But it is for HNI clients , who trade in thousands of lots for a gain of few points. I beleive none of us here come under that category so NOT applicable to us.

 

[Zerodha]

Below is an excerpt from wikipedia Day_Trading. Is it true?

Brokerage
Day traders do not use discount brokers because they are slower to execute trades, trade against order flow, and charge higher commissions than direct access brokers, who allow the trader to send their orders directly to the ECNs. Direct access trading offers substantial improvements in transaction speed and will usually result in better trade execution prices (reducing the costs of trading).

What wiki is talking about is traditional discount brokers, who used to have technology which was lacking .... Today the scenario has changed... internationally charles schwab, etrade, zecco and others have changed how broking happens in the west... Retail broking of big banks like citi, GS etc, are as good as shut with no volumes happening... The only clients who trade with citi, GS etc are hni's who do it for advisory and etc...

In my view, India is heading there... What we have started will become the norm in a few years from now... There are a few guys who are trying to imitate, but remember if someone is asking for brokerage upfront, it is not the right practice or if someone is asking for software charges, not the right practice...Discount broking ideally should come with no riders attached...

I know a few brokers who charge between 2k to 10k and give free trades a month or charge very nominally... An average guy today has 1lk in his account, if he pays 3k upfront a month, he starts his account being down 3%.. To cover this, he needs to make 4% to be just breakeven... The best traders can't do this on a consistent basis!!! Trading is a sport and very important to analyze every aspect of it...

 

[msa5678]

What wiki is talking about is traditional discount brokers, who used to have technology which was lacking .... Today the scenario has changed... internationally charles schwab, etrade, zecco and ........ Trading is a sport and very important to analyze every aspect of it...

This line has boosted my confidence. Now I am feeling as a sportsman.

 

[GTji]

That is true, But it is for HNI clients , who trade in thousands of lots for a gain of few points. I beleive none of us here come under that category so NOT applicable to us.

I do not understand. How slow is slow, and who are the Direct Access Brokers? I always thought our orders went directly to the exchange, doesn't it work like that?

Edit: P.S. I posted this before reading Zerodha's reply above.

 

[Zerodha]

@zerodha, do they have NEST for iPhone?

Yes for Iphone, Ipad and the works..

 

[akash2004]

As long as we use a third party dp, the issue faced will be the same...

We don't like to keep any stocks in the pool and give margins, like a lot of other brokers because it is not compliant and an experienced person will tell you how risky it is to keep your stocks in the pool... It is like mortgaging your property without even owning it...

We are already in the process of applying for dp and April is when we are looking at giving you an online module like an icicidirect etc who provide a complaint way of pledging your shares...

Till then, way out is by manually pledging the shares...

Hi sachin i have got an idea i have stocks worth 3 lacks A category and also i have mutual funds which i dont need to sell before 2050

What we can do is that i manually pledege these shares after shifting to your DP ILFS after opening an account with you so if 30 % is the haircut i get margin for 4-5 lots of stocks futures to sell

For buying cash i deposit cash in my trading account from where i buy stocks
and also pay MTM ( is this workable )

Now my questions is who will provide me margins after manually pleding my stocks will it be provided by you or will it be provided by ILFS

 

[Zerodha]

Hi sachin i have got an idea i have stocks worth 3 lacks A category and also i have mutual funds which i dont need to sell before 2050

What we can do is that i manually pledege these shares after shifting to your DP ILFS after opening an account with you so if 30 % is the haircut i get margin for 4-5 lots of stocks futures to sell

For buying cash i deposit cash in my trading account from where i buy stocks
and also pay MTM ( is this workable )

Now my questions is who will provide me margins after manually pleding my stocks will it be provided by you or will it be provided by ILFS

Akash, Possible!! We have actually worked out another solution for this, Can you shoot an email to [email protected] with your phone number with attention to sachin