Zerodha....

[fxgood]

Close to 55 lakhs per year for NSE for first year, plus 300 per user per exchange segment monthly.

From second year onwards its about 25 lakhs per year, plus 300 per user per segment per month.

PLUS, around 75 lakhs for Data Centre charges and bandwith expenses. Add another 15 lakhs for Vendors hardware, and around 20 lakhs per year more for qualified team of engineers to run the same.

All in all , a very money intensive venture, with NO guarentee of the user renewing subscription, as usually, clients do not renew for more than 3 months, before they quit trading. Only about 15 % of clients are retained beyond 6 months.

The last para has facts that have been verified by a legal vendor.

So,m even after this investment, you are CONSTANTLY looking for customers, whereas, by investing this money in some other business, you have at least some chance, that over a period of a few years, you build up a loyal clientile that comes to you at regular intervals for either your goods or services.

This really looks hell expensive to operate as a legal vendor

 

[del_66]

A new broker in town providing 25 per order with comparably less transaction charges.. have their own DP and seems they have gone live on BSE FUTURES AND OPTIONS from today.

Dear Zerodha when is your Tuesday coming??

 

[poortrader]

zerodha, some transaction costs in BSE are less than NSE, we are hoping that you will pass on the additional benefits n lower your transaction costs, already there are some brokers who are chargin rs 250 transaction charge and rs 20/traded order in commodities and maybe in equities too..so check that out..

 

[timepass]

Hello Zerodha, here's a thread you should pursue. Posting the results so far.

http://www.traderji.com/general-tra...-s-2012-15th-aug-2nd-birthday.html#post713723

 

[Sunny1]

Hello Zerodha, here's a thread you should pursue. Posting the results so far.

http://www.traderji.com/general-tra...-s-2012-15th-aug-2nd-birthday.html#post713723

Are bhai....top 2 thing in the polls...are Ztrader and transaction charges...

Ztrader...they are already on full swing ....awaiting nse approval ..

for transaction charges .....its not in their hand....they have already clarified it..

what else you want ...?

ahh...monthly fixed brkg...this is only thing they can look into...but its their call

 

[Punter786]

As an ex-banker, I can suggest the follwing:

1. Firstly, have internet banking facility for both the accounts. Most of the
things can be done from home, without even visiting the bank/s.

2. Now almost all the banks offer you the facility of transacting from any of
their branches without any charges. As such, you can go to the HDFC bank
nearer to you, deposit your cheques or withdraw cash. It's like you have the
account in that branch itself. For them, the account number is unique and
the account number contains the details of the branch etc. So, you can
transact from the nearest branch, without having to transfer the account.

3. Keep your HDFC account as the major operational account. Since you have
internet banking facility with SBI, keep transferring the funds from SBI to HDFC
via NEFT (which is free upto 1 lakh now and which is going to be free for any
amount in a short while) and withdraw from HDFC. The NEFT transfer takes
about 2-4 hours. You can transfer in the morning and draw through ATM by
evening.

4. With internet banking, you don't have to face the computer-illiterate
employees anymore, and you are saved of that irritation!

--

On last Saturday I visited my bank after a period of one year, thanks to the
debit card and internet banking!

Hope this helps.

Thanks for the reply, Sire. Appreciate your time. Both my bank accounts already have the internet banking facility. But still you have to visit your branch one day for some reason or another. All bank related work cannot be done from home, at least in India. Banks will stop opening new branches if it can be . By the way I myself try to visit the SBI branch as less as possible because of my past bitter experiences.

Just to give an example, a personal account of my personal experience with the bank in short.

SBI does Not allow fund transfer of any amount to any bank or branch if the SMS alert service is not activated for your account. Some time even the online buying with SBI net banking also not works if the alert service is not activated for your account.

And just to activate this damn SMS alerts service for my account, SBI took full one month, two application forms, my 7 visits of the branch and hours of my time which I wasted there waiting on their request at the branch.

But it took a 829 words complaining letter in a threatening tone to their Mumbai headquarter by me to get this service activated. As they say laato ke bhoot..Also surprising is that unlike other banks this baba aadam ke zamane ka bank does not allow SMS service activation through ATM.

Every time I used to visit the branch, they used to make the excuses like: their system is not working, have to install "new system", bade sahab has changed sys password and he is not present in the branch, we have to install a new system, username & password of our news sys has not come from the top so the alert service cannot be activated today, madam is currently in ATM and like that.

As a nice & unassuming guy I kept trusting her words and keep giving them (now the branch manager has also joined in) time to activate the service. Because as much as possible I avoid creating a scene anywhere. Also the person responsible for the alert service was a widowed lady. Her last name is Rehmaan.

I opened the account with SBI because it was near to my home and people say it is good to have an account with a sarkari bank. Never knew my experience would turn out to be this terrible..

So, you know, this is the kind of head banging things happen in sarkari banks. There services are also unreliable and I want to get rid of them anyhow..

Disappointingly, so far, I have not got the kind of reply I was looking for in the forum. Perhaps there does not exist one...

 

[Punter786]

As far as i remember, your bank account number should not chnage when you move out of branch.

But the IFSC code and MICR code may change.

And those things are recorded at Zerodha end when you have a given a Cancelled blank cheque to them at account opening.
So I guess these info needs to be updated.

Even if from Zerodha sends a money transfer with correct account number and wrong IFSC/MICR code the money will still find your way to your account.
But it is better to update.

So during the migration you should not do any money transfer to and fro between Zerodha and bank account.
Also the last time I checked during the migration the bank may not allow you to withdraw any cash from your debit account.
So check all these things and plan accordingly.
Lastly You most likely do not need a branch change at all.Do all your work online and do not visit the branch and get tortured.

And if I were you I would not close the SBI account and it is just too much hassle.

Many thanks for the most helpful post. Have almost forgotten about the MICR and IFSC aspect and did not know about the problem during migration.

Updating the record of companies is the one thing I am most concerned about. Do all companies update their record like Zerodha does? Will sending a mere cancelled cheque do? I do not need to do anything else?

 

[comm4300]

@Zerodha:

why don't you have an option in Back office to transfer funds from my NSE ledger balance to MCX ledger balance?

I understand that these two [NSE,MCX] are treated separately, however, I should be able to do it at EOD basis atleast.

Instead, now i have to place withdrawal request, wait for it to reach my bank and then transfer it to MCX commodities.

 

[augubhai]

I am having issues with NOW, for the past 10 minutes.
Quotes refreshing very slowly, orders not updating.

Anyone else facing issues with NOW?

 

[augubhai]

Logged in again, but the login is also slow, and I get some heartbeat messages ????