Zerodha....

[zaptrader]

For NRI/NRO, SEBI has suddenly gotten very strict on the regulatory aspect of it.. We had some issues with HDFC, with whom we had a tie up for the PIS accounts..

The issue is, if you are an NRI, any money that comes into the market has to be routed through your PIS Bank account,

So assume you want to invest Rs 1lk, HDFC suddenly informed that the money from your bank account can be transferred to the trading account only at the end of the day after the bill is sent to the bank..

What happens if a client buys stock for 1lk and sees the market dip and withdraws money from his NRI account?? It is a big risk management issue..

By brining this rule, SEBI has almost made it mandatory that the banks to be the only brokers who can serve NRI/NRO clients( like hdfc sec, icici sec) etc..

We are trying to tie up either of these banks such a way that, the money in the bank account is blocked instantly the shares are bought.. Sharekhan has a similar tie up with HDFC... Once done, we will start catering to NRI clients again...

i didnt understand the explained scenario because tradings limits will be given to clients only after realizing deposit in your respective PIS account.and anyways NRIs allowed only invest but not intraday trade,so timelines for delivery will not affect.

so,is this tie-up in progress? any near announcements? so i could wait and migrate the account.

 

[Zerodha]

Zerodha

Order qty is two lots eachtime but in contract note it is consider as one by one. ref trade book shows 31 no of trades but ECN says 38 trades.

How it will happen???

Hi Hari,

Can you PM me your client id..

 

[Zerodha]

i didnt understand the explained scenario because tradings limits will be given to clients only after realizing deposit in your respective PIS account.and anyways NRIs allowed only invest but not intraday trade,so timelines for delivery will not affect.

so,is this tie-up in progress? any near announcements? so i could wait and migrate the account.

Money is sitting in your PIS and you are buying shares in ZERODHA, without the funds actually reaching us... What if you remove the funds before the end of the day when we send you the bills for the day??

Tie up is in progress, but might take a while before we are live..

 

[megapixel]

i am currently moved out of india on work so neither i can maintain any indian bank accounts nor zerodha doesnt accept NRI/NRO accounts like rkglobal sad i may have to move all my delivery shares to another broker now.

what is the rule here ?

suppose if I go outside india for 6 months ...will I not be able to trade from abroad ?

 

[zaptrader]

what is the rule here ?

suppose if I go outside india for 6 months ...will I not be able to trade from abroad ?

you always can trade using any broker irrespective whether you are in india/outside but as per law, if you stay outside india for employment greaterthan 182 days your status changes to NRI , so you cannot maintain your resident indian bank accounts, either change them to NRE/NRO accounts or close them.which currently zerodha not acepting funds from NRE/NRO accounts reason is as per RBI,all secondary market investment funds from outside india should route through a PIS account ( only banks provide this account ,best recommended by most other brokers is axis bank PIS,this step is to have clear difference between local and outside funds and also,rbi has restrictions on companies to accept only a % of total share capital as outside funds(bad! same indians gone outside country,are totally treating as different and eliminated lol) )

so you have to plan all this if you stay outside country for morethan 6 months in year..there are some exceptions to argue on this NRI status, but better to follow the process to avoid all troubles from taxation perspective.


currently zerodha is in tie up process with one of such banks who provide PIS accounts for their clients.

the funniest thing i just now came to know from zerodha is , clients will receive trading limits without transferring actual cash to broker account !!!
not sure how this complete PIS will work...

 

[VJAY]

Few unanticipated delays.. We are working very hard to have this up and running at the earliest..

Please update this ....when can we use it ?

 

[Lambuking]

Hi Zerodha,

I am facing a problem with NEST. Please look into it. The problem is suppose I logout of NEST. Then after I login I cann't see my earlier executed Trades in the trade book. Normally this is not an issue as I can see them in my Admin positions or RMS limits but the trouble is I cann't convert them. For ex I had a MIS buy on copper yesterday and I wanted to carry it overnight. I tried to convert it to NRML but the trade was not shown in the trade book. I tried to do it from Admin positions but that gave me a message that this facility is not availaible for MCX. Please look into this.

 

[supaTrade]

To update your tradebook, go to "User Settings" under "preferences".

Then go to "General" and press on reconcile. Then all your trades for the day will be updated in the trade book.

Hi Zerodha,

I am facing a problem with NEST. Please look into it. The problem is suppose I logout of NEST. Then after I login I cann't see my earlier executed Trades in the trade book. Normally this is not an issue as I can see them in my Admin positions or RMS limits but the trouble is I cann't convert them. For ex I had a MIS buy on copper yesterday and I wanted to carry it overnight. I tried to convert it to NRML but the trade was not shown in the trade book. I tried to do it from Admin positions but that gave me a message that this facility is not availaible for MCX. Please look into this.

 

[thatsalok]

Hi Zerodha,

I have small query, Say i bought 40 lot of Nifty Option, and put on the sell by then the 26 get executed, rest still waiting for execution. Now, i bought more say 28 lot and modify the earlier open selll position for 42 (14 prev and 28 new). after this sell is completed what would be my brokerage

Rs60 (3 trades) or 80 ( if you consider selling as two trade)?

 

[sansarva]

Hi Zerodha,

I have small query, Say i bought 40 lot of Nifty Option, and put on the sell by then the 26 get executed, rest still waiting for execution. Now, i bought more say 28 lot and modify the earlier open selll position for 42 (14 prev and 28 new). after this sell is completed what would be my brokerage

Rs60 (3 trades) or 80 ( if you consider selling as two trade)?

when you trade in 68 lot buy and sell does rs 20 really matter, what would matter is trasaction charge, (would't sell limit price difference by .1 from your earlier orders not cover the rs 20 difference you are thinking about) which will pretty well be same in one order or multiple order.

untill ofcourse your are discussing about the nifty option in far out of money value or on day of expiry at re 1 or so.

still an interesting question, would like to know from zerodha, my bet is it would be rs 80