Zerodha - Number One Discount Broker in India

superman

Well-Known Member
Frustrated with zerodha!

Perhaps this is the only brokerage firm which charges separately for square off !!
Today when I tried to cancel all pending intraday orders, Kite UI hanged.It took me 5 mins to cancel all orders but I started getting message saying orders blocked by RMS square off

Seems like Zerodha starts RMS block at 3:19 or whenever they like and they will charge 20 rs per order cancellation. If this is not daylight robbery, what else is ??

I remember when Nitin said long back when he started Zerodha

"Why should broker charge % or a different amount for electronic order. It doesn't matter whether its 1 or 100 orders cost will be same."

Same applies for RMS. It doesn't matter if I close it or RMS closes it. Cost should be same !!

Please don't give me crap saying our RMS orders are overflowing and the system can't handle !! Every broker in India handles these auto cancellations with ease!!

I am planning to take this to SEBI since I feel it's not legal. You can't consider auto square off orders as call and trade !!
 

Zerodha

Well-Known Member
Frustrated with zerodha!

Perhaps this is the only brokerage firm which charges separately for square off !!
Today when I tried to cancel all pending intraday orders, Kite UI hanged.It took me 5 mins to cancel all orders but I started getting message saying orders blocked by RMS square off

Seems like Zerodha starts RMS block at 3:19 or whenever they like and they will charge 20 rs per order cancellation. If this is not daylight robbery, what else is ??

I remember when Nitin said long back when he started Zerodha

"Why should broker charge % or a different amount for electronic order. It doesn't matter whether its 1 or 100 orders cost will be same."

Same applies for RMS. It doesn't matter if I close it or RMS closes it. Cost should be same !!

Please don't give me crap saying our RMS orders are overflowing and the system can't handle !! Every broker in India handles these auto cancellations with ease!!

I am planning to take this to SEBI since I feel it's not legal. You can't consider auto square off orders as call and trade !!
There was no any UI issue that we spotted, send an email to [email protected] with your client ID, we will have this charge reversed. The idea behind this is to ensure clients square off MIS/BO/CO on their own.

Cost does go up, check this: https://www.nseindia.com/membership/content/connectivity.htm

A 400 message per second line costs between Rs 12lks to Rs 15lks per year. 10 such lines will cost between Rs 1.2 to Rs 1.5 crores per year. And this is just for one exchange.

At 3.20 pm, we are having tens of thousands of MIS/BO/CO orders that we are having to place at the same second . Even the above budget is not enough for this.

If all clients squared off on their own, this would never have been required for us to implement.
 
Why not stagger it segmentwise between 3 - 3:20pm ?
There was no any UI issue that we spotted, send an email to [email protected] with your client ID, we will have this charge reversed. The idea behind this is to ensure clients square off MIS/BO/CO on their own.

Cost does go up, check this: https://www.nseindia.com/membership/content/connectivity.htm

A 400 message per second line costs between Rs 12lks to Rs 15lks per year. 10 such lines will cost between Rs 1.2 to Rs 1.5 crores per year. And this is just for one exchange.

At 3.20 pm, we are having tens of thousands of MIS/BO/CO orders that we are having to place at the same second . Even the above budget is not enough for this.

If all clients squared off on their own, this would never have been required for us to implement.
 

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