Zerodha....

[Zerodha]

Re: new cheapest broker is here. Zerodha

What's your (ILFS) DP out charges and do you have one-time charge for AMC (life-time no charge) ?

The DP out charge is Rs 15 and charged by ILFS. There is no AMC you have to pay for the trading account with us, the AMC is Rs 400 for the ILFS account. Presently there is no offer of a one time charge for AMC. But since ILFS is purely a DP service provider, it comes with a lot of additional features as mentioned in one of the threads..... Cheers.....

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Got a doubt...

There is a discussion about opening demat account.

Should we open demat account cum trading account with you?
If yes, why can't we link our existing demat account?

Here you were saying, no demat needed if we are do only day trading in cash and trading in derivatives...
Do we get exposure/leverage for day trading (we don't have demat with you)?

Note: This question is not meant to zerodha alone. Since you represent a broking firm (zerodah), we are asking. Anyone who represents any other broking firm can reply or inform us...

If you already have a demat account and don't intend to do delivery based trading, then you don't need to open an account with ILFS. Even if you don't open demat, you will get the leverage to trade intraday in cash. For trading derivatives there is no role of a demat account as the positions you take in f&o remain in the trading account.

Note: When you take a delivery position, on T+2(settlement cycle in India) the shares have to be settled into the client dp account. If you open an ILFS with us, it will go sit there. When you sell the same position, since ILFS is our partner, the shares are debited from the ILFS account and delivered . But assuming you link any other demat account(say karvy), we will not be able to debit the shares from your (karvy )dp since we can't partner more than 1 dp.

So basically, if you want to do delivery based trading through us, we would need you to open an ILFS demat account.
In case you don't intend to do delivery based trading, we can link the zerodha trading account to any of your existing account. You will get leverage to trade intraday, leverage to trade intraday futures and any other such features we offer....

Cheers.....

 

[timepass]

Re: new cheapest broker is here. Zerodha

Hello ZeroD,
Thanks for quick and complete reply to my earlier query.

- Now, my sharekhan account offers me some margin against the stocks in my DP. Do you provide any similar facility? Can you elaborate.

- Also, if I want to simply open an account and not pay in any monies for trading yet (do so at a later date), is it ok with you?

- Do you provide service to clients all over India or are any areas not covered?

TY

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Visited their office on Monday, had cordial interaction with 2 of their staff members, the senior fellow was good in explaining their teething problems.allthough small in size they have high hopes.
I had raised some very important queries which r very important for "positional trader"
for "day trader" i found to be very useful platform. I am waiting for their positive response.

Thanks a lot for taking the time and effort to visit our office. Looking forward for a long term relationship.
As far as size goes, Rupert Murdoch had once said: The world is changing very fast. Big will not beat small anymore. It will be the fast beating the slow.
We are small, trying to be efficient and super fast. We are looking at creating a win-win proposition for traders and ourselves.

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Hello ZeroD,
Thanks for quick and complete reply to my earlier query.

- Now, my sharekhan account offers me some margin against the stocks in my DP. Do you provide any similar facility? Can you elaborate.

- Also, if I want to simply open an account and not pay in any monies for trading yet (do so at a later date), is it ok with you?

- Do you provide service to clients all over India or are any areas not covered?

TY

Yes we do provide margin against stocks on similar haircuts like your sharekhan account does.

Yes, you can open an account and trade anytime you wish. we are alright with it.

We provide service to all clients who are online across the world...The key word is online clients...

Cheers...

 

[BIJU ABRAHAM]

Re: new cheapest broker is here. Zerodha

Yes we do provide margin against stocks on similar haircuts like your sharekhan account does.

Yes, you can open an account and trade anytime you wish. we are alright with it.

We provide service to all clients who are online across the world...The key word is online clients...

Cheers...

Howmany times ?At IIFL I enjoy 10 times intraday exposure against DP holdings,ofcourse on the amt after haircut

 

[udi1970]

Re: new cheapest broker is here. Zerodha

hi, ZerodhaOnline,

I was reading this thread of 18 pages since now. In one of the earlier post it was asked by a user that "Online broker may run away with your deposit money. It is like Small bank offering huge interest rate on your deposits". This take on a Online broker has gripped me in fear. Please clarify your stand. I am very new to trading and a very small investor and my knowledge is limited on the current craze of Online broking.

Thanking you

 

[sanjay_arora]

Re: new cheapest broker is here. Zerodha

But assuming you link any other demat account(say karvy), we will not be able to debit the shares from your (karvy )dp since we can't partner more than 1 dp.

So basically, if you want to do delivery based trading through us, we would need you to open an ILFS demat account.
In case you don't intend to do delivery based trading, we can link the zerodha trading account to any of your existing account. You will get leverage to trade intraday, leverage to trade intraday futures and any other such features we offer....

Cheers.....

Can you please explain this a bit more? I have just recd. your forms. Now I have a trading account with Indiabulls which has a linked NSDL DP account, which is free for life.

Now, can I link this DP account account with your trading account because it is a NSDL account? ILFS and Indiabulls are both NSDL DP participants. I have no objections to giving you POA over my demat account with NSDL (the one opened through Indiabulls).

This will save me annual DP charges. Can this be done?

And second, having done this...can I sell shares lying in my DP through you instead of through Indiabulls?

Third, If I buy delivery based shares through you, will they land in the same DP account with NSDL that I opened through Indiabuls or will I not be able to buy shares through you?

Will talk about margin after this part of response. Top floor running a bit slow today

Sanjay.

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Howmany times ?At IIFL I enjoy 10 times exposure against DP holdings,ofcourse on the amt after haircut

Same with us....

 

[sanjay_arora]

Re: new cheapest broker is here. Zerodha

hi, ZerodhaOnline,

I was reading this thread of 18 pages since now. In one of the earlier post it was asked by a user that "Online broker may run away with your deposit money. It is like Small bank offering huge interest rate on your deposits". This take on a Online broker has gripped me in fear. Please clarify your stand. I am very new to trading and a very small investor and my knowledge is limited on the current craze of Online broking.

Thanking you

Any broker may run with your money. You cannot force anyone not to declare bankruptcy Everyone is free to go bankrupt

When you give credit or a deposit, there is always a default risk, and that covers even the bank deposits

Why do you think we had that run on ICICI stock, when the US financial news landed. It was feared that their US losses may cause them to fold....that goes for newbies like zerodha or Indiabulls or other biggies.....if they bet wrong...lose money....of course your money is at risk.

Nobody runs away, without cause, unless its their business model!!!