Zerodha....

[Zerodha]

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

No NSE member till date has ever been able to run with any client's money... Documented fact.. Being a NSE member is no piece of cake, interviews with NSE and SEBI and a lot of money and securities that get blocked. We are always monitored by NSE and SEBI. With a lot of smaller brokers, the problems that have been faced by clients before is because of the broker overleveraging for competing against bigger brokers. When the market turned around these brokers were overleveraged and a lot of clients would not stick to their commitments which would cause problems for the clients who don't leverage...

In this regard, we are probably the safest brokers in the country to trade with as we don't give any leverage for overnight positions. We let a client carry forward a position only if he has money. If a client needs leverage for delivery positions it is done through ILFS(who have upwards of 10000 crores in cash with them) and no risk is taken from our side.

The question a lot of people are asking us is how can you charge so less??? The question has to be, why are others charging so much???
I am saying this in regards to clients who trade online on their own and who don't need relationship managers(trying to meet their brokerage targets) to be telling them what to buy and sell.

Cheers

Sachin

 

[udi1970]

Re: new cheapest broker is here. Zerodha

thanks sanjay,

i see that you are also going to open a/c with zerodha. So therefore, I will proceed keeping in mind that lending money is always at risk with anyone.

big thanks

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

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.

Hi Sanjay,

Yes you can link your indiabulls dp account to our trading account.

When you take a delivery buy position, it will go and sit in your indiabulls dp after 2 days.

The problem happens while selling these shares. Even if you give POA, we will not be able to debit the shares when you sell through us from your indiabulls dp.

Hope this clarifies.

Cheers

Sachin...

 

[udi1970]

Re: new cheapest broker is here. Zerodha

thank u Sachin at Zerodha Online,

thank u very much for restoring my faith in Online trading. Thanks to every one out here...Let Zerodha become a brand name in India for their innovative ways and great contribution to fraternity of small traders like us. best wishes

 

[udi1970]

Re: new cheapest broker is here. Zerodha

thank u sachin at zerodha. thanks very much for clarifying..

 

[sanjay_arora]

Re: new cheapest broker is here. Zerodha

The problem happens while selling these shares. Even if you give POA, we will not be able to debit the shares when you sell through us from your indiabulls dp.
...

May I ask why? What's the problem if you have a POA and the same is deposited with NSDL?

Can you revert with the technical problem stopping this or is it only clerical inertia of the system.

You see I have been think of writing NSDL a letter on this issue and so would like to know more on the problem.

 

[daanfar]

Re: new cheapest broker is here. Zerodha

I have been with Bajaj Capital for past one year and my plan is going to end Dec 21, 2010. And I was tensed how am I going to trade huge volumes in Index Options, ZERODHA seems to be a saviour. Just today and 10.30pm I got to know about this and the excitement has no bounds. Hope to meet personally in Bangalore very soon and very eagerly hope that trading with them increases the excitement without any hassles in the NSE NOW Platform and increases profitability too.

Farooq, Chennai

 

[sanjayspeilberg]

Re: new cheapest broker is here. Zerodha

need clarification.

As per Zerodha, brokerage for Intraday is 0.01 and for delivery it is 0.1.

If i buy shares for 1000Rs. for intraday my brokerage will be 0.01*1000= Rs.10

or

(0.01/100)*1000 ????

 

[timepass]

Re: new cheapest broker is here. Zerodha

It's on days like today that one appreciates the importance of lower brokerage.

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

May I ask why? What's the problem if you have a POA and the same is deposited with NSDL?

Can you revert with the technical problem stopping this or is it only clerical inertia of the system.

You see I have been think of writing NSDL a letter on this issue and so would like to know more on the problem.

Hi Sanjay,

Got a little more info for your query..

Firstly, POA if given in favor of Zerodha, Indiabulls would probably not accept it.

Secondly, even if they do, their efficiency levels will probably not be at the levels where it should be if they are not the trading member.

Also, the way we at Zerodha can offer at this price is by automating the entire system. Same uniform model for everyone. Even if I have to trade, we get no extra privileges. Monitoring what is happening in a DP where we have no access to would take time and effort which will not fit into the business model..

Cheers...