Zerodha - Number One Discount Broker in India

[Zerodha]

Stamp Duty is to be paid depending on in which state the broker has his Registered Office...and not where clients live. If you are charging extra stamp duty because you have some representative offices in Tamilnadu, Gujrat, Maharashtra etc...then you can think of closing these offices if they are only for helping new customers in filing the aplication forms. All earlier accounts were opened with only Bangalore office.

This is going to be a major issue and we request you to see what the correct legal position is and not give in to the unfair demands of few State Governments.

Smart_trade

Smart,

http://www.ncdex.com/CustomerServices/faqpop.htm#stDu02,

This is something where there is complete confusion in the broking community also, but you would probably appreciate that we can fight but if the government wins it can then kill a business like ours with the extremely thin margins we work at..

Remember the vodafone case, vodafone makes potloads of money so they could take that hit, but our business of low margins, hmmm...

 

[doshiv]

Please reply this with working solution.

Sachin, Why you are ignoring this Q. ? :annoyed::annoyed:

 

[Zerodha]

Sachin, Why you are ignoring this Q. ? :annoyed::annoyed:

Searching for an answer..

 

[Zerodha]

Please reply this with working solution.

Vipul, here's your answer...

The scrip that you traded, BIRLAPOWER, is in the BE category and needs to be treated differently while placing orders. This belongs to the Call Auction category and has to be treated differently for order placement. This circular will give you more details about it.

In your specific case, your order was placed at 8:59:54, which is 6 seconds before the market opened.

 

[doshiv]

Vipul, here's your answer...

The scrip that you traded, BIRLAPOWER, is in the BE category and needs to be treated differently while placing orders. This belongs to the Call Auction category and has to be treated differently for order placement. This circular will give you more details about it.

In your specific case, your order was placed at 8:59:54, which is 6 seconds before the market opened.

Thanks for reply. But it's wrong answer as BIRLAPOWER though is in the BE category is not an illiquid scrip as per the criteria of illiquidity provided in the circular. So it doesn't belong to call auction category.
In my specific case, the order was placed at 9.00.01 am which got rejected while another 3 orders got accepted (open) with the same exchange entry time.
Anyway I got the probable answer from NOW team though placed in NEST.
Thanks again !

 

[doshiv]

For trading in nifty50 future if I place only intraday orders ( not cover orders ) , can I get margin same as CO if I allow you to remove CNC option from my ZT & permit you to square off it if in 1.5 % loss. CO have many drawbacks e.g. market order etc.

 

[Price Pattern Recognition]

I dont know what the fuss is about stamp duty.

Hi aracus,

I think you forgot about the High Volume Traders for considering the Stamp Duty fact completely. :annoyed:
Present Stamp duty structure means a lot for volume traders.

After Zerodha's recent decrease of Turnover charge from Rs 490 to Rs 390 [A master stroke]. Zerodha is clearly No. 1 broker in India regarding to transaction cost for high volume traders in Equity Futures [50 lots or more Nifty] when max cap Rs 50 Stamp Duty rule is applied. :thumb:

Anyone can see below how Stump Duty Rule make Zerodha No. 1 cost effective broker for volume traders from many states (still they are charging no max cap rate for TN, GUJ, MH only).


---------
Any one can download that excel from below thread. It is bcoz of nice effort from two members here bpr and nac. For high volume traders presently ZERODHA is number one for Equity Futures. And VPS is Number one for Currency Traders.

http://www.traderji.com/brokers-trading-platforms/89681-discount-broker-comparision-18.html

Cheers.

 

[Smart_trade]

Stamp Duty makes a big difference . We are doing trading as a business and stamp duty is a cost in our business and any businessman would like to achieve saving in his costs. We understand Zerodhas stand as they dont want any contingent future liability, but no one should say that we are making a fuss over small issue....it will amount to few lakhs in a year, certainly not a small amount ....

Smart_trade

 

[tradetolearn]

hi Zerodha,

Few queries-

1-The 60 day challenge u have started does that mean for eg. at the end of 60 days a trader makes total of 100 trades and even if his NET PROFIT after the completion of 60 days is Rs 100 only u will be refunding the full brokerage with service tax of all the 100 trades?
Am i right in understanding this?

2-Can we convert a carry fwd position of our future into MIS after 1 or 2 or 3 days to release margin for intraday trading.If yes can we again convert it to NRML after sqauring the intrday trades?

3- Do u provide cover orders for all the futures or only for few of them ??

 

[Zerodha]

For trading in nifty50 future if I place only intraday orders ( not cover orders ) , can I get margin same as CO if I allow you to remove CNC option from my ZT & permit you to square off it if in 1.5 % loss. CO have many drawbacks e.g. market order etc.

this would not be possible for now..