Zerodha has silently ended it's 60-days challenge

[amrutham]

Being a technology company, I would believe that the process is all automated, so-called backoffice staff is almost non-existent in Z ...

They have mentioned that "Digital winner certificates will continue to be issued." Hence no work load reduction. I think its the case of too many traders are profitable now.

 

[headstrong007]

They have mentioned that "Digital winner certificates will continue to be issued." Hence no work load reduction. I think its the case of too many traders are profitable now.

Only Digital winner certificates se kya hoga? Digital profit se pet bharega kya? If so, then paper trading se bhi to pet bhar jayga! Just kidding.

Rs 6000 don't have any value? You can buy data feed using it and low-cost Internet like Jio(FY) too. Almost 20,000+ return per year.

Many winner traders are disappointed! Now without brokerage refund, there is no real incentive.
The digital certificate has no value, u can't buy a cup of tea using it.
Currently no difference with other Rs 20 brokers except fyers who has a challenge with full brokerage refund.

There are many f&o winners who generate less than 6000 brokerage refunds bcoz they are selectively trading/positional trader. So, they are getting full brokerage back. Z mainly targeted such large chunk of profitable traders who are getting full brokerage refund. Such traders would shift to brokers like Fyers where the brokerage return is there or similar Rs 20 other brokers with better infrastructure. The workload would be reduced when some traders shift to other brokers.

 

[amrutham]

Only Digital winner certificates se kya hoga? Digital profit se pet bharega kya? If so, then paper trading se bhi to pet bhar jayga! Just kidding.

Rs 6000 don't have any value? You can buy data feed using it and low-cost Internet like Jio(FY) too. Almost 20,000+ return per year.

I agree that certificates have no value and 6K is not a small amount.

My post was regarding workload reduction. Since anyway they are going to calculate P/L of the traders to issue certificates, there is no work load reduction in this case.

But if some traders are going to move to other brokers due to this move, the question is, is it only the winners ? Winners are not always constant and everyone starts a challenge to be a winner.

 

[msdtime]

is it only the winners ?

As we all know the prosoects of winning has much more psycological weight rather than the incidence of winning in itself. So yeh the people who have not won even a single 60 days challenge or those who have never subscribed to it until now are going to be pissed out more than the regular winners.
Also regular winners win a lot of money that 24k is not that much for them.

 

[timepass]

My challenge has 4-5 sessions left, and my brokerage so far is less than 5000. But that winning is a big factor, and will be tasteless without the monetary incentive.

 

[Trader_PK]

Mine finished on 18th , won but still no refund.. mailed them .. no reply... will I get 6000 back or not?

 

[amrutham]

Mine finished on 18th , won but still no refund.. mailed them .. no reply... will I get 6000 back or not?

You will get it, but its always delayed. I get mine after 1-2 months generally.

 

[headstrong007]

I agree that certificates have no value and 6K is not a small amount.
........
But if some traders are going to move to other brokers due to this move, the question is, is it only the winners ? Winners are not always constant and everyone starts a challenge to be a winner.

Yes, not only winners but some beginners too as msdtime said.

But, surely most of the regular winners generating brokerage below or around 6000, who were getting periodical full brokerage refund have the valid reason to shift to other brokers with better options.

 

[okabira]

don't worry ,...

they will charge for annual account maintenance and for delivery too

 

[superman]

don't worry ,...

they will charge for annual account maintenance and for delivery too

AMC is already there ! 300+ rupees for demat