Zerodha....

[Zerodha]

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 )

Brother, every situation in life you can look at it as glass half full or half empty.. It is basically how you look at it..Right now, it seems like you look at whatever I write as half empty, so you will find fault in whatever I write..

People in India are getting conned for millions of dollars everyday on the so called forex platforms and we have people who vouch for them.. Spoke to a guy today who decided to trade on them thanks to some people on this forum who vouched for it.. He has lost everything he has in his life and he didn't even realize that he has just been conned.. I understand you all like the MT4 or whatever platform, but there might be some newbie who gets carried away by all of your talk on how amazing the platform and ruin himself.. You might be using a demo account, but there might be others who may get influenced into putting real money... So when you guys talk about MT4 etc, also ensure to put a disclaimer that, use it only for charting and nothing else...

Sharekhan is an amazing platform, was checking their platform just the other day..
http://www.sharekhan.com/Common/Brokearge/Brok_struct_char.html
that is what they charge for that.. Yes this is their standard brokerage structure and you might get it at reduced charges based on your turnover.. But this is what they charge by default..

Have you seen the interactive brokers platform?? It is crazy, but have you seen the charges?? It is not fathomable that anyone can do intraday trading with those kind of charges..


As I said, we are doing our best to put forward a proposition that we think will improve your chances of winning..

So yes, I love the sharekhan platform, no we cannot provide you something like that at our charges for now... Yes MT4 etc are good, but we would never vouch to even use the demo, because a demo might induce you to go live on it sometime...

You seem like a nice guy but I know what your reaction to this post would be.. You will probably write something really long and saying what I have written wrong... We have already had discussion on everything n number of times, I don't think anything left to discuss about... You know about our charges, the platform, I will try my best to ensure your platforms works well, but nothing much we can do after that.. You wanting to trade or not afterwards is your call.. Will call your cousin and check out the issue..

Happy trading...

 

[Zerodha]

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

Both NOW and Zerodha Trader(NEST), have been developed by Omnesys technologies.. So the look and feel might be a little similar.. But Nest is a much more advanced version of NOW in terms of the architecture.. .

http://economictimes.indiatimes.com...ty-stake-in-harsa-it/articleshow/14050528.cms

Harsa it are the guys who had developed our backoffice and today with omnesys taking over harsa it, we should be able to provide you a lot of additional features.. Might take a couple of months before it materializes..

 

[Zerodha]

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?

Shailu,

How much brokerage you are paying has nothing to do with if the company will go down or not..

You might have seen how some of the biggest firms in the US just melted away.. You might go the biggest and well established firm and tomorrow he might just disappear..

The right question to ask is what are the practices that can lead to a broker disappearing..

NSE has an Investor protection fund, which will refund you money in case a broker defaults..But the good thing is NSE has never really had to deploy this.. The same cannot be said about BSE and MCX, because it is easier to become member on them, some issues have happened, especially in MCX....

The practices that can cause trouble today are:

Excessive leverage, it is alright when market is going smooth, but one volatile session can screw it up for the broker.. There are brokers who give 4 to 5 times margin on commodities.. Gold already requires just 4%, now if you give him 5 times over that, the client has to put in less than 1 % margin to take a position.. Gold can very easily move a couple of percentage points, what happens then?? You need to find out if the broker has different margin policies for different clients.. Today this is very rampant.. The so called HNI is spoilt by all the goodies which can in turn cause havoc.. A case of a very popular commodity broker going down because a really big gold jewellery company was allowed to take huge positions with hardly any margin and then defaulting... So check on if your broker is doing this, call the RM and tell him you will put 1cr in your trading account, ask him if he will let you take unlimited position?? The guy who has 1lk in the account will never cause the system to break, it will be the guy who probably has 10cr....

In case of equities, trouble can come in if margin funding is done on illiquid mid and small caps.. A lot of popular brokers do it and this caused their terminals to be blocked in 2008..

These are some of the questions for you to ask a broker to ensure that the chances are reduced of your terminals being blocked.. Money might come back because of the INvestor protection fund, but a blocked terminal may cause you a missed opportunity that may never come back...

 

[mendi_1983]

Hi Zerodha,

I opened a new account with Zerodha and as first trade, I bought and sold Nifty (1 lot) on the same day. When I checked the backoffice @ the end of the day, I see the stamp duty @ 50/- while as per http://www.stockmarketindian.com/stock_exchange_market_india.php the stamp duty shd have been ~10/- (@0.002%)

Am I missing something.
I bought the lot @ 5054/- and sold it @ 5069/-

 

[timepass]

Hi Zerodha,

I opened a new account with Zerodha and as first trade, I bought and sold Nifty (1 lot) on the same day. When I checked the backoffice @ the end of the day, I see the stamp duty @ 50/- while as per http://www.stockmarketindian.com/stock_exchange_market_india.php the stamp duty shd have been ~10/- (@0.002%)

Am I missing something.
I bought the lot @ 5054/- and sold it @ 5069/-

5054 x 50 = 252700

the stamp duty was levied on two and half lac rupees.

 

[newbie12345]

Amazing post, Sachin. People have lost so much money on these Forex and Nymex scamsters that its not even funny. Worst thing is none of these companies are regulated. I got an SMS some months back from my Bank saying I cannot use my card to open an account with any Forex trading company as it violates FEMA. What I do not understand is why are they allowed to have offices in India? I don't wish to name any, but there are a few BIG ones in Mumbai who indulge in some serious publicity.
Trading is indeed very dicey. At least for amateurs like me. I made close to 5 lakhs within two days of my options trading and I got so carried away, I had lost the 5 Lakhs plus 1.97 Lakhs of my trading capital by the end of the week. I was left with only 3k. It was extremely distressing but I had learnt my lesson. Most traders I know trade purely on technicals. Not one of them has a background in Finance. They have reasonably big accounts but are successful because they learnt their lesson in their early days of trading. They hedge their overnight positions. None of them use extra leverage provided by the broker. Its tempting but a small profit is better than an astronomical loss.

Coming to the platform and its charting woes, I asked you if Zerodha can provide a plugin with backfill facility for NEST(Zerodha Trader) to Amibroker for a fee. I know there are no free lunches. Right now, am using excel to stream data into Amibroker and I manually do the backfilling and merging the two scripts. It works like a charm but backfilling is a bit cumbersome. The excel tool was shared by Josh1 and he has truly done an admirable job.

 

[newbie12345]

There's a lot of griping w.r.t Plus charts. MCX backfill data for crude/silver/copper is usually about 1.5 megs and it takes a little time to download. A minor freeze is common during this period. Am using an antiqued Dual Core system with 2 GB of ram so it tends to turn a little sluggish for a few seconds. I have an I5's on my other workstation and laptop with 8 gigs of ram each and I don't even notice a flicker while getting the backfill data from the Data Table.

As far as MT4/MT5 goes, the platforms are fairly stable with some very good, tried and tested indicators to help in trading decisions. I have made some seriously profitable trades on Nifty, Crude, Silver and Copper by following the charts on GCI. I know rupee volatility plays spoilsport till 5 but post that, there is some semblance of parity in Nymex and MCX charts.
Don't wish to bait you, but MT4/MT5 purely from a charting point of view is darned good. As far as one is watchful about the data accuracy and consistency in MT4/MT5, I don't see a reason why they should be considered taboo. I've been using GCI alongside Amibroker because there are certain indicators that work very well with GCI. Two charting platforms just give me that much more confidence to enter/exit a trade. Don't want to diss NEST Plus, but there is little or nothing one can do with the charts. The only redeeming feature is the 30 days backfill.

 

[sansarva]

Amazing post, Sachin. People have lost so much money on these Forex and Nymex scamsters that its not even funny. Worst thing is none of these companies are regulated. I got an SMS some months back from my Bank saying I cannot use my card to open an account with any Forex trading company as it violates FEMA. What I do not understand is why are they allowed to have offices in India? I don't wish to name any, but there are a few BIG ones in Mumbai who indulge in some serious publicity.
Trading is indeed very dicey. At least for amateurs like me. I made close to 5 lakhs within two days of my options trading and I got so carried away, I had lost the 5 Lakhs plus 1.97 Lakhs of my trading capital by the end of the week. I was left with only 3k. It was extremely distressing but I had learnt my lesson. Most traders I know trade purely on technicals. Not one of them has a background in Finance. They have reasonably big accounts but are successful because they learnt their lesson in their early days of trading. They hedge their overnight positions. None of them use extra leverage provided by the broker. Its tempting but a small profit is better than an astronomical loss.

Coming to the platform and its charting woes, I asked you if Zerodha can provide a plugin with backfill facility for NEST(Zerodha Trader) to Amibroker for a fee. I know there are no free lunches. Right now, am using excel to stream data into Amibroker and I manually do the backfilling and merging the two scripts. It works like a charm but backfilling is a bit cumbersome. The excel tool was shared by Josh1 and he has truly done an admirable job.

Seriously I have my doubts, will sachin ever provide that plugin, I have requested in earlier post somewhere, if he can at least release the plugin he has developed on some other thread on an annonymus id and thus do a great service to his clients. He has maintained the silence which for all i know he will continue to do so.

In josh utility, backfilling I agree is semi manual, but not so cumbersome, may be because I only use nifty future for charting. The trading symbol from nest data table and in ambibroker is same , I do't have to merge symbol (except for new series, Aug, Jun etc). That way it takes few seconds to backfill.

 

[vikrit]

......................

People in India are getting conned for millions of dollars everyday on the so called forex platforms and we have people who vouch for them.. Spoke to a guy today who decided to trade on them thanks to some people on this forum who vouched for it..... So when you guys talk about MT4 etc, also ensure to put a disclaimer that, use it only for charting and nothing else...

Sharekhan is an amazing platform, was checking their platform just the other day..
http://www.sharekhan.com/Common/Brokearge/Brok_struct_char.html
that is what they charge for that.. Yes this is their standard brokerage structure and you might get it at reduced charges based on your turnover.. But this is what they charge by default..

As I said, we are doing our best to put forward a proposition that we think will improve your chances of winning..

So yes, I love the sharekhan platform, no we cannot provide you something like that at our charges for now... Yes MT4 etc are good, but we would never vouch to even use the demo, because a demo might induce you to go live on it sometime...

You seem like a nice guy but I know what your reaction to this post would be.. You will probably write something really long and saying what I have written wrong... We have already had discussion on everything n number of times, I don't think anything left to discuss about... You know about our charges, the platform, I will try my best to ensure your platforms works well, but nothing much we can do after that.. You wanting to trade or not afterwards is your call.. Will call your cousin and check out the issue..

Happy trading...

thanks for compliment and reply, but dear, did i asked you to do something? did i ask you or begged you to give any particular platform? even i didn't replied to your msg untill you directly asked my id. if i would have avoided it then you will say i am posting all this just saying negative about zerodha. i was sharing my views with fellow members. if you have owned this thread or/and there is any rule that whatever people writing here that mean they are asking you. plz tell.

i never said what anybody should use or not. don't know which particular post you are talking but now i edited one where i forgot to mention 'i' before 'use mt4'. if you think anybody can be misguided by specifically telling 'i use mt4 for charts', then please talk to owner of this forum and tell them to ban/stop all members/mods who are giving tips and telling their trades and profits. all market having risks. Tell me by seeing those type of posts people not get motivated??? but by telling i am using mt4 for charts can lead them to bankruptcy. or did you never find a single guy who lost everything they have, in our markets??? plz look around in this forum. or you think this forum also doing wrong by providing a platform to talk b/c there is a chance people can get wrong impression about trading at all.

'will improve your chances of winning..' plz don't use this line, b/c in my view a company whether betting against clients or one hoping 80% client will be in loss so introduce a competition, having little difference on ethical path. ultimately for both, loser client means profit.

ok! all these forex co.s are fraud, but people are illiterate? they can't read terms and risk disclaimer, they knowingly want to go against RBI. as no one blame you for not discussing/mentioning about high charges, as you mention it in calculator. these brokers mention everything on their website. i don't trade in forex, but as per my limited knowledge, ECN brokers also there. so it is user's choice and wish to take risk, anybody is stupid who is not calculating risk b/c of margin trading or trading at all.

about sharekhan brokerage, don't know what their standard brokerage. they never charged anything for TT, or asked for minimum brokerage or advance brokerage. started trading with 60,000 rs 2 years back, and negotiated for brokerage 1 paisa. 1 month watched their tips, but didn't found good accuracy so trade by my untrained brain, lost everything in 3 months time, i talked to sharekhan rm, he told me to attend their free training programs, then started again with 30,000 rupees b/c didn't want to loose more, in next 4months recover all losses, also get basics clear and till now earning good enough.

i never said you to give TT, the member who mentioned mt4 meant only mt4/mt5 type, like newbie12345 asked for plugin to amibroker. do you find amibroker also doing something wrong. dear there are many good softwares, mt4/mt5 just was an example. b/c people can't understand why it is impossible for developers to design a less resource hungry software! and if you are saying at this cost it is impossible to give good software, tell me what make a software costly? for making their architecture light on resource, is a gold plating required???

 

[VICKKY]

Shailu,

How much brokerage you are paying has nothing to do with if the company will go down or not..

You might have seen how some of the biggest firms in the US just melted away.. You might go the biggest and well established firm and tomorrow he might just disappear..

The right question to ask is what are the practices that can lead to a broker disappearing..

NSE has an Investor protection fund, which will refund you money in case a broker defaults..But the good thing is NSE has never really had to deploy this.. The same cannot be said about BSE and MCX, because it is easier to become member on them, some issues have happened, especially in MCX....

The practices that can cause trouble today are:

Excessive leverage, it is alright when market is going smooth, but one volatile session can screw it up for the broker.. There are brokers who give 4 to 5 times margin on commodities.. Gold already requires just 4%, now if you give him 5 times over that, the client has to put in less than 1 % margin to take a position.. Gold can very easily move a couple of percentage points, what happens then?? You need to find out if the broker has different margin policies for different clients.. Today this is very rampant.. The so called HNI is spoilt by all the goodies which can in turn cause havoc.. A case of a very popular commodity broker going down because a really big gold jewellery company was allowed to take huge positions with hardly any margin and then defaulting... So check on if your broker is doing this, call the RM and tell him you will put 1cr in your trading account, ask him if he will let you take unlimited position?? The guy who has 1lk in the account will never cause the system to break, it will be the guy who probably has 10cr....

In case of equities, trouble can come in if margin funding is done on illiquid mid and small caps.. A lot of popular brokers do it and this caused their terminals to be blocked in 2008..

These are some of the questions for you to ask a broker to ensure that the chances are reduced of your terminals being blocked.. Money might come back because of the INvestor protection fund, but a blocked terminal may cause you a missed opportunity that may never come back...

Poor guy was only asking that if he deposit 4 to 5 lakhs rupees with you, if that money is safe. Instead of giving straight forward answer in no or yes, you have given a long sermon. Question is if your RMS system is so full-proof as you boast of many times, why don't you say by thumping your chest that no need to worry about 4 to 5 lakhs even 40 to 50 lakh of rupees are absolutely safe with us. Do you have a doubt about your own RMS system.Very next question arise that if you can not give guarantee about safety of 4 to 5 lakhs rupees with you how can you expect one can benefit from your brokerage model ( for trading 10 lots of nifty in a single order, margin needed is rs 2.7 lakhs and if you put a simultaneous S/L and target order then margin required will be around 4 lakhs) or your brokerage model is only for option trader ( by keeping 40 to 50 thousand one can trade in 10 lots of option).
What is most funny and amazing that instead of giving straight forward assurance to a genuine concern, you are finding faults of others. It is like saying that i can not guarantee about safety of your fund but some day if i pull down my shutter, NSE investor protection fund is there.