Zerodha vs RKSV ( for currencies)

T

The Outlier

New Member
#1
#1
Hi friends,
Planning to open a currency trading account at one of the discount brokers , hence focused on Zerodha and RKSV. This is what I came up with :

Assumptions :

1. Around 2000 lots turnover per day. 10 buys of 100 contracts each and 10 sells.
2. Net difference between buy and sell average of 1 paisa ( more or less does not make any difference to edge of any broker)
3. Trading via Rs.20 per trade for Zerodha and 999pm unlimited trading for RKSV
4. 20 trading sessions in a month

I used their brokerage calculators from their sites for calculations, screenshots follow
 
T

The Outlier

New Member
#2
#2



RKSV - P&L is 11,502. Taking 20 trading days in a month, brokerage for a single day is Rs.50 only ( 999 unlimited for a month). Hence actual profit is 11,452.
TO for RKSV is Rs.160 per crore, stamp duty is Rs.200 per crore ( maharashtra)





ZERODHA - Let us say we did 10 buys and 10 sells for 100 contracts each. Then brokerage would be 400. Stamp duty of Rs.50 also needs to be given. Hence, Rs 360+50 = 410 needs to be subtracted from profit.
Net profit is then 8958-410 = 8548
 
T

The Outlier

New Member
#3
#3
Analysis

34% more profit in RKSV as a daytrader

MAIN REASON - Zerodha charging Rs.440/cr as TO and 12% of that as service tax ( obvious). This is pushing up costs like hell. Hence, even after paying Rs.200/cr as stamp duty in RKSV ( compared to Rs.50 in Zerodha), a medium volume daytrader wins at RKSV for currencies


Would like to see ZERODHA and RKSV representatives participate in this thread, would appreciate if anyone points out any mistake in my calculations.

Hope to do the same thing and check for futures and options on NSE

Rgds,
The Outlier
 
T

The Outlier

New Member
#4
#4
Hence, net costs are :

390/cr for RKSV and 506/cr for Zerodha

Moral of the story : Whatever looks cheap is not always cheap, it could be a visual illusion :D
 
timepass

timepass

Moderator
#5
#5
If you are doing 10 buys + 10 sells per month, then you can also consider VNS Finance's Rs. 15 per order option. Their brokerage calculator is not very reliable for currency futures, but you can ask them in their thread too.

Edit : I think RK Global also have a Rs. 999 unlimited plan for currency. Have you considered it ? And then there is Achiievers Equities who also have very competitive monthly unlimited plan.
 
T

The Outlier

New Member
#6
#6
Just did an analysis for Nifty futures, there also RKSV has a slight edge ( negligible) in terms of costs.

However, Zerodha by virtue of innovative margining like Cover orders and all makes up for that. Zerodha offers much more at a very slight higher cost ( negligible as I said earlier) by stock margins, cover orders etc.

As a volume based daytrader, I would choose RKSV for currencies and Zerodha for stock/index futures. Commodities cannot be compared as RKSV does not have commodities
 
T

The Outlier

New Member
#7
#7
timepass said:
If you are doing 10 buys + 10 sells per month, then you can also consider VNS Finance's Rs. 15 per order option. Their brokerage calculator is not very reliable for currency futures, but you can ask them in their thread too.

Edit : I think RK Global also have a Rs. 999 unlimited plan for currency. Have you considered it ? And then there is Achiievers Equities who also have very competitive monthly unlimited plan.
Click to expand...
I am talking about 10 buys ans 10 sells per day ( at the very minimum)

I would stay away from R K Global, some of my friends have very bad experience

Achievers Equities - I know nothing about them, Zerodha and RKSV both win on the trust issue I guess ( purely personal opinion)
 
Last edited:
timepass

timepass

Moderator
#8
#8
The Outlier said:
Just did an analysis for Nifty futures, there also RKSV has a slight edge ( negligible) in terms of costs.

However, Zerodha by virtue of innovative margining like Cover orders and all makes up for that. Zerodha offers much more at a very slight higher cost ( negligible as I said earlier) by stock margins, cover orders etc.

As a volume based daytrader, I would choose RKSV for currencies and Zerodha for stock/index futures. Commodities cannot be compared as RKSV does not have commodities
Click to expand...
Subscribing to Omnesys Nest Plus @Rs.125 per month (or is it less??) will get you all the facilities of the software that Zerodha offers.
 
soft_trader

soft_trader

Well-Known Member
#9
#9
The Outlier said:
Hi friends,
Planning to open a currency trading account at one of the discount brokers , hence focused on Zerodha and RKSV. This is what I came up with :

Assumptions :

1. Around 2000 lots turnover per day. 10 buys of 100 contracts each and 10 sells.
2. Net difference between buy and sell average of 1 paisa ( more or less does not make any difference to edge of any broker)
3. Trading via Rs.20 per trade for Zerodha and 999pm unlimited trading for RKSV
4. 20 trading sessions in a month

I used their brokerage calculators from their sites for calculations, screenshots follow
Click to expand...
For your turnover look no further than RKSV's 999 plan. Just go for it. For Currency unlimited plan, RKSV is the cheapest broker available. :)
 
timepass

timepass

Moderator
#10
#10
soft_trader said:
For your turnover look no further than RKSV's 999 plan. Just go for it. For Currency unlimited plan, RKSV is the cheapest broker available. :)
Click to expand...
I think VNS finance is marginally cheaper (They have priced everything accordingly). Also, VNS is the only broker who offers 50% intraday leverage even on currency futures. That could be a big incentive too.
 
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