Zerodha - Number One Discount Broker in India

[Raj232]

Yes,
Dont know will trust any other broker like that.

So again this is your personal opinion.... whether you would be able to trust any other broker like that.
All brokers and intermediaries are SEBI registered and have to place the margin money as per the norms, it is not broker specific. What is the criteria you used to choose this broker ? I would say you took it for the low brokerage and then because they made a lot of money so now you feel safe.

I used to trade with RK Global and did not face any issue there. They were only intermediaries and offered Rs 9 per lot in FNO over 2 years back. Never had payin/payout or contract note problems. Contact note for the day used to come by 7.30 Pm sharp.

Probably you are not a frequent trader so you feel safe with a name, but that would not be good advice to others who are looking for a stable platform.. my 2 cents.

 

[timepass]

Different people at Zerodha deal with the problems. The initial reaction from their side was denial ("We do not ask the profits back so we will do nothing about the losses"). As this problem escalated, it reached the higher officers, who reacted in a different way.

Of course, this does not mean that they are problem free.

@cinderblock , I don't think that my position at TJ had anything to do with the resolution.

 

[traderniftybull]

Yes,

They are trustworthy. Number of times larger amount of money in one of my portfoilio accounts remains uninvested, never had a problem of RM trading and depleting funds happened.

Dont know will trust any other broker like that.

On other hand for regular day trading there is no harm in having account somewhere else too.

Bhai, these days you can transfer money to your trading account in 2 minutes, if broker has that arrangement. And most of the brokers have made arrangement with most of the major banks for instant transfer.

 

[maneverfix]

Bhai, these days you can transfer money to your trading account in 2 minutes, if broker has that arrangement. And most of the brokers have made arrangement with most of the major banks for instant transfer.

Actually planing open account with Tradejini in April, they are having single account for NSE & MCX.

 

[Raj232]

Actually planing open account with Tradejini in April, they are having single account for NSE & MCX.

SEBi has cleared single account for NSE and MCX so all brokers would follow shortly, Tradejini has been the first.
Dont forget Finvasia who is charging "Nil" brokerage for all trades.

 

[traderniftybull]

WisdomCapital is also charging NIL under their freedom plan. But if you want some particular/extra leverage or facility then have to opt for paid plans. Payin and payout never had a problem. Instant payin with a few major banks.
Similarly with Finvasia.

 

[timepass]

Bhai, these days you can transfer money to your trading account in 2 minutes, if broker has that arrangement. And most of the brokers have made arrangement with most of the major banks for instant transfer.

Not if you have an account with Union Bank
It takes NEFT 4-5 hours.

 

[Raj232]

Not if you have an account with Union Bank
It takes NEFT 4-5 hours.

That seems to be more like the Bank problem. Coming to Union Bank:
CBI has registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by Union Bank of India

 

[timepass]

CBI has registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by Union Bank of India

Yes, I posted about that in General Trading Chat.

I have been banking with UnionBank for nearly 20 years and have no reason to change my routine banking to any other bank. NEFT is ok. 4-5 hours delay is ok.

 

[traderniftybull]

Bhai, I said for major banks. But you can do IMPS, within 30/60 min, money will be transferred to the trading account, though one reminder may be required in such cases. (by IMPS/NEFT)
BTW, Z has instant transfer facility, with UnionBank ???