Zerodha....

Re: new cheapest broker is here. Zerodha

I wish one could just sign up online and start trading. Imagine that! The whole process of opening an account is quite painful with so many signatures and so many documents to submit.
However, once the account is open, trading is so much more interesting now. There is a whole new way to trade. Zerodha has changed the game in options trading for regular people.

Re: new cheapest broker is here. Zerodha

Hi Mr Kanitkar,

The NEFT and RTGS payment gateway has been working fine with all the online banks. As far as payment gateway on the terminal is concerned, we would love to have it with all the banks but unfortunately we have no control over this. NSE NOW team is tying up with various banks for payment gateways directly on the terminal. New banks are being added, presently HDFC, AXIS and SBI(latest one) are enabled. With these 3 banks, transfer of funds into your trading account happens instantly. Pretty soon, we are looking at having all the popular online banks on the gateway.

For now, even if the bank account is with any online bank, we can have a smooth operation of transfer of funds into and out of your trading account. Transfer of funds into your account can take anywhere between 1 to 6 hrs(based on RTGS or NEFT) and withdrawals take the same time(we process withdrawal request at 6pm every day).

Cheers...

Re: new cheapest broker is here. Zerodha

Hope these rates are available to investors not as a account opening gimmicks and hope these rates are not for 6 months or 1 year, wish you best

Re: new cheapest broker is here. Zerodha

One query ...
Assume that I have opted for Plan A while opening account.And I trade for one month with good volumes.But due to some reason I am not able to trade for entire next month.And after that I start trading again .So my brokerage charged would be as per Plan A and not B , right ?

Re: new cheapest broker is here. Zerodha

since zerodha team is answering directly

ilfs is now hsbc so your demat is with hsbc. pl reply

Re: new cheapest broker is here. Zerodha

Hello Zerodha, can a customer change his brokerage plan? At present I am a small timer, so I would be interested in Plan B. But later if I want to change to Plan A.. any charges, restrictions etc?? And if one wants to change from Plan A to Plan B..

TY

Re: new cheapest broker is here. Zerodha

Thank you TradeRaid.....! Are you trading ?

Re: new cheapest broker is here. Zerodha

We are trying to introduce the concept of discount broking and our rates will remain same.. We will be giving a lot of value adds over the course of next six months, some of the things would be: comprehensive training videos from active professional traders, programmable charting software, an option of high volume traders to automate their trades and etc....

Re: new cheapest broker is here. Zerodha

Your plan remains the same which you have opted for while account opening until we receive a written or online request from you to change the plan..

Re: new cheapest broker is here. Zerodha

ILFS has sold the trading business( ILFS investmart) to HSBC, because they felt it was conflict of interest to be running the biggest DP in the country and also to be running a trading business... ILFS now provides pure DP services which comes with a lot of value adds: a. E Kool facility, where you can transfer shares online from one demat to the other b. IPO funding at rates lower than market rates.. c. Loan against securities .. d. for all those who want a continuous margin for delivery position, a margin funding account can be opened (2.85 times of the cash margin, will be available for delivery positions) at 14%/annum while the market rates are between 18 to 21%.. . For all those who go directly to ILFS to open a dp account, they would have to pay 600 upfront and 600 amc for only ILFS account.. For all those going through us, account opening is Rs 600(including dp and trading account) and amc of Rs 400( for both dp and trading).

Cheers...