Zerodha....

[Zerodha]

... ... ...

Assume you bought a prepaid for 500 mins which is valid for 2 months... At the end of 2 months does your prepaid get recharged automatically for another 500 mins and debited from your account?? Ideally, you would go back to the shop whenever you wish and recharge for another 500 mins..

There are a lot of such cases pending at SEBI, you could browse through the SEBI websites.. Most of the brokers from the R money guys who started it to many others , debit it automatically... So if you pay 1lk upfront for a year, after a year if you have 1lk in your trading account, they would debit another 1lk without your authorization... When a person has suffered a loss, the easiest thing to do is to not look at the trading account, this is what general retail does... A lot of so called big brokerage firms are misutilizing this loophole and the fact that they have access to client funds....

This is all my conversation was about, I think this banter we are having has taken 3 pages.. ... I think best to stop it now... EXPIRY TIME!!!

 

[timepass]

Assume you bought a prepaid for 500 mins which is valid for 2 months... At the end of 2 months does your prepaid get recharged automatically for another 500 mins and debited from your account?? Ideally, you would go back to the shop whenever you wish and recharge for another 500 mins..

There are a lot of such cases pending at SEBI, you could browse through the SEBI websites.. Most of the brokers from the R money guys who started it to many others , debit it automatically... So if you pay 1lk upfront for a year, after a year if you have 1lk in your trading account, they would debit another 1lk without your authorization... When a person has suffered a loss, the easiest thing to do is to not look at the trading account, this is what general retail does... A lot of so called big brokerage firms are misutilizing this loophole and the fact that they have access to client funds....

This is all my conversation was about, I think this banter we are having has taken 3 pages.. ... I think best to stop it now... EXPIRY TIME!!!

Not stopping at YOUR last words, brother. It's a choice the customer consciously makes - does he want his phone to get disconnected at the end of the due period, or does he want automatic payment and continuation.

 

[TheDreamer]

Assume you bought a prepaid for 500 mins which is valid for 2 months... At the end of 2 months does your prepaid get recharged automatically for another 500 mins and debited from your account?? Ideally, you would go back to the shop whenever you wish and recharge for another 500 mins..

There are a lot of such cases pending at SEBI, you could browse through the SEBI websites.. Most of the brokers from the R money guys who started it to many others , debit it automatically... So if you pay 1lk upfront for a year, after a year if you have 1lk in your trading account, they would debit another 1lk without your authorization... When a person has suffered a loss, the easiest thing to do is to not look at the trading account, this is what general retail does... A lot of so called big brokerage firms are misutilizing this loophole and the fact that they have access to client funds....

This is all my conversation was about, I think this banter we are having has taken 3 pages.. ... I think best to stop it now... EXPIRY TIME!!!

As you have mentioned Reliancemoney, I can assure you that they used to refund the advance brokerage if a person did not trade within the said period. You could also re-negotiate with them for the advance brokerage slab or choose it online...

As all my options positions will be kept open till expiry, I have enough time to talk to you as well as with Angel Brokers' sales team... :rofl::rofl::rofl:

 

[sakiv]

wow! all this b/c of my question? lol!
if i will start posting regularly what will happen?

lot of people discussing about legal, ethical. zerodha can charge prepaid, and refund the money at the end of the month if no trade. or maybe they can do postpaid like telecom companies charge for internet. whether we will use it or not, there is a minimum charge or maybe they can do prepaid like mobile operators do, in 300rs. 2GB in 3G, we purchase a product consiously, it is not their problem whether we will use it or not.

zerodha is a shop and myself a customer, if what they are providing i am not liking, there are many others shops and there will be.

 

[sakiv]

There is no software charges, account opening for commodities is Rs 300 if we courier the forms and Rs 200 if you print the forms...

Even if you get brokerage of 0.01% with Sharekhan( for which I think you have to pay upfront brokerage of Rs 1lk), if you buy and sell 1 big lot of gold, for 1 lot you will pay Rs 500, with us you would be paying Rs 40..

thanks for answering my question.
are you a spokesperson of zerodha? or just a supporter?

FYI, didn't paid any upfornt fees, and my brokerage is 0.01% (1 paisa), at this rate for BIG gold my brokerage would be 570-580rs at current price. maybe you don't trade in gold.

i don't trade in all big lots. only crude and other mini ones. 8 months before started with 1.5 lakh capital. trading thru mobile most of the time b/c of work. brokerage + taxes etc total, currently paying per month around 7-8k.

when compared zerodha calculator figures to my account, joining zerodha doesn't seem having worth the effort.

attaching images of Zerodha calculator, and my sharekhan account. compare and plz tell me what is the benefit, and also what is tran charges, is it same as in sharekhan under head <to tax>, if yes then why it is so high?-
(in zerodha calculator, they didn't included stamp duty, so added it.)

 

[GTji]

Hey you can charge us the fixed brokerage after the month ends, instead of the beginning of the month, now that would not be considered as an advance would it?

 

[TheDreamer]

Hey you can charge us the fixed brokerage after the month ends, instead of the beginning of the month, now that would not be considered as an advance would it?

What if there is no money in the account at end of the month!!!

 

[timepass]

thanks for answering my question.
are you a spokesperson of zerodha? or just a supporter?

FYI, didn't paid any upfornt fees, and my brokerage is 0.01% (1 paisa), at this rate for BIG gold my brokerage would be 570-580rs at current price. maybe you don't trade in gold.

i don't trade in all big lots. only crude and other mini ones. 8 months before started with 1.5 lakh capital. trading thru mobile most of the time b/c of work. brokerage + taxes etc total, currently paying per month around 7-8k.

when compared zerodha calculator figures to my account, joining zerodha doesn't seem having worth the effort.

attaching images of Zerodha calculator, and my sharekhan account. compare and plz tell me what is the benefit, and also what is tran charges, is it same as in sharekhan under head <to tax>, if yes then why it is so high?-
(in zerodha calculator, they didn't included stamp duty, so added it.)

Sakiv, Welcome to Traderji.com, hope you will find a lot of interesting material and contribute to various threads in the forum :thumb:

For attaching images, it is best to use an external service and paste the link here. Using "Manage Attachments", you may run out of attachment space soon.

Please find below, in my signature, the instructions for uploading images on an external site.

.

 

[Zerodha]

thanks for answering my question.
are you a spokesperson of zerodha? or just a supporter?

FYI, didn't paid any upfornt fees, and my brokerage is 0.01% (1 paisa), at this rate for BIG gold my brokerage would be 570-580rs at current price. maybe you don't trade in gold.

i don't trade in all big lots. only crude and other mini ones. 8 months before started with 1.5 lakh capital. trading thru mobile most of the time b/c of work. brokerage + taxes etc total, currently paying per month around 7-8k.

when compared zerodha calculator figures to my account, joining zerodha doesn't seem having worth the effort.

attaching images of Zerodha calculator, and my sharekhan account. compare and plz tell me what is the benefit, and also what is tran charges, is it same as in sharekhan under head <to tax>, if yes then why it is so high?-
(in zerodha calculator, they didn't included stamp duty, so added it.)

Hi Sakiv,

The stamp charges at Zerodha is per contract note and not per trade, so yes if you do only 1 lot of trading per day then the stamp duty might look quite big and hence distort.. But the commodity note you have attached, you have done multiple trades and so on a whole you would have paid around 60% of what you have paid there and almost same stamp duty....
I work at Zerodha...But that said the real difference would be when you do the bigger lots than the smaller ones... If you are trading only 1 mini at a time and if sharekhan is giving you it at 0.01%, then don't think you would be saving big with us...

 

[Trader J]

I was not pointing out to any one broker on this forum.. .. Today brokers like S_Khan, U_CON, BM_ _ Creators, and so many more are taking 50k to 1lk upfront to give a deal... Most of their sales people are pushed to sell these products and so many gullible traders are being taken for cleaners...

People have 3lks in their account and they pay 1lk as an upfront brokerage!! Do you think it is right.. Your argument would be that if he is paying he is a fool.. But does that mean that just because he is a fool, a company can do what it wants?? Why have a regulatory body then??

You and I(the ones who research before buying a product) just belong to probably less than 1% of the population...

When you buy prepaid mobile, bus ticket, gift vouchers, you pay and get a product which is valid for a particular period of time.. Does your prepaid recharge itself beginning of every month?? most of the upfront packages running in broking business does that.. I can keep saying a lot of things, but I might be considered as a person who has a vested interest, so will keep quiet...

The issue though is, educated Indian is probably the toughest customer in the world.. ...

As I had said before, for now our focus is to get all exchanges on one platform and give all the tools that might aid you in being profitable in the markets.. We will keep doing interesting things in between to bring in some fun into trading.. ..

Brokers like S_Khan, U_CON, BM_ _ Creators are not ZERODHAS competitor, even they all are far away from discount broking.

The main competitor of Zerodha is RKSV, who has freedom plan Rs 1947 per Month for NSE Cash, F&O and BSE, so if some one doing more than 100 trade per month, they should go for pre paid brokrage plan of RKSV, otherwise Zerodha is good for less than 100 trade per month.

Zerodha has advantage of stamp duty (Max 50 per day per ontact note)

RKSV has advantage of Lower transaction charges for Future Rs 230 v/s Zerodha 490 per crore. (If u trade in One lot of Nifty @5000 , RKSV charge Rs 13 , Zerodha charge Rs 28)