Zerodha....

[Zerodha]

@vikrit, can you pm me your client id, I would want to see what issues you are facing with Zerodha Trader, I definitely can fix it for you.. We have more than 1000 clients who are trading with us on commodities using Z trader and we hardly ever get any complaints.. Even if there is an issue, we can resolve it for you...

So if you wish for me to have a look and fix it please leave me your client id..

@everyone else, who is comparing trading platforms to MT4 and etc, let me tell you something which will be an eye opener!! I have held this back till now because a lot of you here might be trading on these platforms...

Most of the platforms which require you to transfer money abroad and then let you trade on EURUSD's, international indices, metals etc are supposedly spread betting platforms or also called CFD's(Contract for difference)..

Basically what is supposed to happen is, when you buy a particular contract on their platform, they in turn are supposed to take the same view in the underlying exchange, their profit is based on the spread between the contract on their platform and in the underlying exchange..

A lot of these firms are based out of mauritius, UK, Portugal, Spain etc, because these are the only places where spread betting platforms are legal..

Now to the most interesting part of the story...Do these platforms really take a position in the underlying market?? No!! In the sense they are just being the opposite side to every trade you put and betting on the fact that you will loose all the money...

How do you guarantee a trader loses money in the market?? Just give him insane leverage and inevitably he will burn out if not today then tomorrow...

That is what these platforms do.. They provide you 100 to 500 times leverage, give a platform where you think that you are trading on an exchange... None of these softwares are exchange approved, basically it is the same platform which different companies white label and sell it.. You would be very surprised to know that the top 3 such platforms are run by a keralite sitting in Dubai.. He just brands them separately and runs it... They even say things like you put 1000 bucks and they will put another 1000 bucks on your behalf, coz they know that eventually you will lose it all to them...

Why am I telling you all of this??

That platform MT4 or other variants of that are not real trading platforms.. If an order is placed on that, it doesn't have to go to an underlying exchange and get a confirmation and reconcile and etc... It is basically a fancy video game designed by a proficient programmer.. They can add or remove whichever features without any exchange approvals.. So, please don't compare these platforms which are illegal and are basically just demo's(even if you put real money into it) to platforms which have to communicate with exchange for quotes, orders, trades etc...

The crazy thing about these guys running this business is, today if you make money in India which is white you have to pay 33% taxes.. If you make it black, big businesses have to hawala it abroad to spend it... The crazy thing about this business is that you yourself send the money abroad where the firms most likely don't have to pay any tax and can spend it.. RBI has gotten very strict and it may not be too long before RBI comes and says money can't be gotten back into the country which was sent this way and ban money going out like this completely... For all those doing it, please stop it...

About NOW, as all of you know it is not under our control. We talk to NSE IT team everyday with any issue that you forward to us... Today a lot of brokers are switching to NOW and this is pressurizing the systems.. We are told by their IT team that they are ramping up.. For those who are telling that I keep quiet, I just can't keep answering the same thing every page on this thread...

Zerodha Trader is our answer to this.. We have been getting very good reviews from most of our clients except for a few in between.. If there is an issue it can be fixed, because this is under our control.. A lot of big brokers today are either with Omnesys for NEST or FT for ODIN.. These are the only two major companies licensed to vend trading platforms... There are 2 or 3 smaller players as well...

If you are expecting an interactive brokers platform with our brokerage model, hmmm.. I'd say it is not possible for now atleast... At Zerodha Trader we will give you a very stable platform with a good charting tool and some very interesting features like Pulse and also introduce automated trading which is affordable to all of you...

All of this with our brokerage model should be a winning proposition to a lot of you and that is what we believe at Zerodha... If someone thinks otherwise, as I said before it is freewill, you could always go ahead and do what seems right to you....

Zerodha Trader should be up with all exchanges on it, NSE , BSE and MCX by this month end... You will be able to use the same margins across exchanges.. This has gotten delayed for various reasons again which is out of our control, but we are trying our best to have it up at the earliest, because at the end of the day it is we who will be affected the most...

Happy trading guys, this week looks like a volatile one, trade safe...

 

[sr114]

Zerodha

the only problem faced with Zerodha Traders is that in Nest Pulse, the intraday data contains lot of zeroes in either O/H/L/C which makes the chart backfilling a nightmare.
if something could be done in this matter.

Overall Z Trader is more stable than NOW

sr

 

[pravkshp]

Thanks for the detailed info Zerodha, by the way can you tell me the difference between NOW & Zerodha trader? Are they one & the same?

 

[soft_trader]

@ Zerodha:

Today when I tried to place an order in a new account, error coming was "Account deactivated".

Called up Zerodha, and that smart guy fixed the problem within 5seconds :clap:

Zerodha, are your employees ROBOT???

 

[Shailu]

as brokrage of zerodha is less than 1 question aries suppose if any 1 deposit 4-5 lac for trading and he had fear that this company remains or not for that safety anything is there?

plz reply waiting for ur reply.

 

[Sunny1]

plz reply waiting for ur reply.

this question has been already answered in this thread.

Amount is not deposited to personal account but to a client NSE account. this account is protected by SEBI and NSE . therefore no broker can run away with clients money.
:thumb:

 

[vikrit]

this question has been already answered in this thread.

Amount is not deposited to personal account but to a client NSE account. this account is protected by SEBI and NSE . therefore no broker can run away with clients money.
:thumb:

please read details about safety of client money deposited at 'brokers'. sometimes truth is different what we assume. it can't be answer in one line. depends what happen with broker.

about money depositing in to a client NSE account, to understand whether this a/c is with broker or with any exchange, giving a simple logic - if your a/c and money is with nse/or any particular exchange then how come you can use same money to buy stock/scrips at other exchanges. or do you think exchanges divide the money b/w them? then plz tell me the percentage

 

[TradeRaid]

please read details about safety of client money deposited at 'brokers'. sometimes truth is different what we assume. it can't be answer in one line. depends what happen with broker.

about money depositing in to a client NSE account, to understand whether this a/c is with broker or with any exchange, giving a simple logic - if your a/c and money is with nse/or any particular exchange then how come you can use same money to buy stock/scrips at other exchanges. or do you think exchanges divide the money b/w them? then plz tell me the percentage

I don't know much about how exactly these transfer of funds between exchanges happen, but here's my two cents on it.
Let's say you transfer 100000 rupees each to your NSE and MCX accounts with your broker... These funds are deposited in the respective exchanges in the broker's pool account. From here the funds are utilized for entering positions. Assume you've used up 50000 in one exchange. Now, you wish to take an additional position in another exchange... and transferring funds there would be a problem for you... So your broker, as a favor for you, will give you that cash as ad-hoc margin and allow you to take that position... He can do this because he would have placed margin money already in any exchange he's a member at...

 

[vikrit]

@vikrit, can you pm me your client id, I would want to see what issues you are facing with Zerodha Trader, I definitely can fix it for you.. We have more than 1000 clients who are trading with us on commodities using Z trader and we hardly ever get any complaints.. Even if there is an issue, we can resolve it for you...

So if you wish for me to have a look and fix it please leave me your client id..

@everyone else, who is comparing trading platforms to MT4 and etc, let me tell you something which will be an eye opener!! I have held this back till now because a lot of you here might be trading on these platforms...
.................................

Dear, I am not looking for any special treatment. and maybe 'you' definitely can fix it, but other executive gave me 'relogin/restart' as a solution. anyways, it is common phenomenon, problems don't inform before coming. so, rather then forcing your company to solve, i use web based in those critical moments. it's simply give less headache. and also if you checked, i rarely post any problems regarding terminal opening etc. b/c i prefer to call directly. next time when will face i will call and definitely ask for 'sachin' if market will agree to wait for solution. (i mean less volatile )

still, to make you aware about recent problem, i am sending id my cousin using (if you read my post clearly he faced SL canceling problem and opening problem). around 10:30 am today also, he faced same opening problem, so he used web based to punch SL order, while letting the terminal open.

about many clients don't complaint, if ever you surveyed consumers, normally client complaint only if thing is not working at all. they know customer care exec. always have something at consumer end to blame like bharat said to upgrade or net problem.

about mt4, it is lamest excuse for your software problems. any member who is telling mt4 like system, their point is about less resource hungry and bandwidth hungry software. in fact no single indian software is good compare to international ones. my cousin who lives in USA, and trade in NYSE stocks, i don't remember the name of software , but it was also running smooth and neat. and graphs was so good.

nest plus is just for charting, ok? it is more resource hungry b/c it is better. ok? then why our system never hang or terminal freeze, when we open TT + MT4 + MT5 (since last week) + mozilla firefox 5-6 tabs + excel. Whatever mt4/mt5 designer/seller do, are not charts look better than any indian software/terminal available?? if clubbing of nest plus is problem then you could able to design it as separate software for charting purpose only.

you know what, rather than finding solution, you are blaming others, trying to justify your shortcomings by telling others negative side. then why you didn't ever open up about your 4 times total transaction charges it would be better if you took the mt4 advice in positive way. at least i will not mind if you will provide mt4/mt5 type software for charting and for punching order a lighter terminal separately. some of us doing same since zerodha start. using TT for charts and now for orders. but we want/think you can provide better at this type of 4 times charges, and also once sharekhan start realizing this happening, they will definitely do something about it. in between got a msg on TT, 'in trade tiger, today onwards basket order and trailing stop loss is available for NSE also'.

 

[vikrit]

I don't know much about how exactly these transfer of funds between exchanges happen, but here's my two cents on it.
Let's say you transfer 100000 rupees each to your NSE and MCX accounts with your broker... These funds are deposited in the respective exchanges in the broker's pool account. From here the funds are utilized for entering positions. Assume you've used up 50000 in one exchange. Now, you wish to take an additional position in another exchange... and transferring funds there would be a problem for you... So your broker, as a favor for you, will give you that cash as ad-hoc margin and allow you to take that position... He can do this because he would have placed margin money already in any exchange he's a member at...

suggested sunny1 to know in detail, b/c i got a impression from his statement that NSE/exchange/SEBI will refund the money if broker broke or something else happen. do you think same?

as per rules they need to transfer the money at least internally for using same fund b/c there should be minimum required money to take position on margin also. after recent commodity fraud, now authorities are looking into this also, may be soon they will make compulsory money transfer from bank itself.