Zerodha....
- Thread starter bharath.mang
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- Tags bakwaas now cheapest brokerage nest nest plus new broker zerodha zerodha trader
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@ Zerodha
I have a techno-legal query. A friend of mine was working with a reputed broker before the market crash of 2008 and there was a system of giving a cheq to the broker and getting instant margin even before the cheque was credited. The story and fate of the friend is obvious..he got trapped in the mkt fall and also bounced the cheque. Now my question is
1) can a broker give credit for nifty futures even before clearing the cheque
2) how much leverage maximum can be given for a positional (after the intraday) to take home the loss making nifty futures
3) what are the present fines/rules of exchanges for you brokers regarding the leverage in Nifty
4) finally who is at fault the broker or client?
I have a techno-legal query. A friend of mine was working with a reputed broker before the market crash of 2008 and there was a system of giving a cheq to the broker and getting instant margin even before the cheque was credited. The story and fate of the friend is obvious..he got trapped in the mkt fall and also bounced the cheque. Now my question is
1) can a broker give credit for nifty futures even before clearing the cheque
2) how much leverage maximum can be given for a positional (after the intraday) to take home the loss making nifty futures
3) what are the present fines/rules of exchanges for you brokers regarding the leverage in Nifty
4) finally who is at fault the broker or client?
..In the greed of getting business, brokers bend their a** and you know what happens when you do it...
.. 1. Can a broker give credit?? ... Absolutely not... But do they give?? Yes they do... Why do they give??? To get the client generate brokerage.. Typically most of these guys who give have short memories, money that is made for years as brokerage can be lost in a few mins of market crash...
2. Today SEBI has brought in rules saying how much margin is minimum required.. If not they charge penalty.. How much penalty, could be as much as 1% of the shortfall for every day the margin is short... SEBI considers shortfall as any margin which is less than the SPAN specified by the NSE...
So for eg, if nifty span is 18k and broker lets a client hold a position for 15k, he has to pay 1% penalty for 3,000 for everyday short... Other than this, the broker also has a penalty based on total short positions by clients..
3. I'd say mistake is with the broker... Broker knows the rules and the business.. The client typically doesn't and gets lost in anxiety of greed and fear... More fear because, usually the positions which are held with lesser margins is 99% because of loosing positions rather than winning...
A broker is like a traffic signal, he has to enforce rules.. If he doesn't and there is an accident, you have to blame the traffic signal and not the cars...
...Happy trading guys...
Looking forward to it.
I can't keep things to myself and blurt it out before we make it public..
... Firstly, we would never do fixed fees upfront a month kind of thing, it might look rosy, but starting down on an account the first day of your trade, is not the most profitable setup... 90% of our 7000 odd clients are people having less than 2lks in the trading account and if the first day they are down 1 -3% just paying an upfront fees, hmmm... Trading is all about the mind, Personally when I was trading actively, whenever my account goes to debit for whatever reason, my style of trading used to change... Anyways, this is to set things clear, that we won't have any upfront pay a month kind of thing...
Secondly, we don't believe in treating customers differently, be it a guy with 10k in the account or 1 cr in the account... So what we would offer again, will be uniform to every client... One deal for everyone...
Zerodha, was conceived with the idea of actually charging Zero brokerage... Like someone has said earlier, not even the Rs 20 per trade... Today we are at a size where this dream can be a reality... But nothing comes free of cost does it?? So I am going to build up some suspense to this( saw don2 and the only thing running on my head was, I could have probably done a better job writing and directing the movie)...
SUSPENSE ! SUSPENSE ! SUSPENSE. Zerodha ke suspense ko jaanna mushkil hi nahin, namumkin hai. But u have made trading 'mumkin' which was 'namumkin' to many FnO traders. So eagerly waiting to know your client friendly suspense. CARRY ON ZERODHA!
Too many plans, too many terms and conditions to spice things up will lead to too many calculations on part of Zerodha and too much confusion on part of clients. So keep things as simple as possible. For now it is ZERO BARRIER and ZERO CONFUSION.
Still, there is room for improvement and the expectations from Zerodha is very high. Wish Team Zerodha all the very best
Too many plans, too many terms and conditions to spice things up will lead to too many calculations on part of Zerodha and too much confusion on part of clients. So keep things as simple as possible. For now it is ZERO BARRIER and ZERO CONFUSION.
Still, there is room for improvement and the expectations from Zerodha is very high. Wish Team Zerodha all the very best
I was about to close my HDFC bank account but Zerodha tie-up resisted me on time.
Any hope of tagging ICICI bank accounts for immediate PAYINs?
Any hope of tagging ICICI bank accounts for immediate PAYINs?
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