Discount Broker Comparison

which is good for option selling? and which give decent margin in intraday for option selling in index? Finvasia or Prostocks? brokerage is not a issue for me, among Finvasia, Prostocks which is good for option selling?
 

travi

Well-Known Member
Zerodha added 20 level market depth as a new feature to keep differentiating from the small players.
This is a good strategy this is not something others can catch up immediately and without spending money.
Yes, rightly put.
I think the L3 feed costs around 1.5L+tax per month. ( Could have bargained but this is approx cost )
Plus the server/data/load overhead to broadcast more per sec.

Currently, it's limited only to customers who have generated inr.100 or more in brokerage in the last 4 weeks.
Also comes with a fine print of possibly charging as a premium feature in the future
 

bpr

Well-Known Member
Yes, rightly put.
I think the L3 feed costs around 1.5L+tax per month. ( Could have bargained but this is approx cost )
Plus the server/data/load overhead to broadcast more per sec.

Currently, it's limited only to customers who have generated inr.100 or more in brokerage in the last 4 weeks.
Also comes with a fine print of possibly charging as a premium feature in the future
The most interesting thing is Zerodha is claiming it is not a level 3 feed but a TBT feed.
They are parsing the TBT feed to derive these 20Level depth. Mind you TBT is more expensive. Using TBT feed to derive these 20 levels is sheer waste of TBT feed as it has so much more to offer.
This raises several questions.

Q1) if they indded subscribed to the feed. then they should register themselves as a data feed vendor at NSE
They are yet to make the list may be it will be updated in future.
http://www.nseindia.com/content/press/List_data_Vendors.pdf
If not did they find a loophole to access the data without being a datafeed vendor.

Q2) if they indded subscribed TBT feed why not start datafeed vending business on the side ?? AFAIK nobody else has TBT

Q3) Are they using TBT feed for their own internal propiertry trading and giving these 20 level depth to the retailers as a side thing.

Q4) Will they use this feed to imprve kite charts ??
 
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travi

Well-Known Member
I think they meant its L3, in few places, maybe someone knowing a little bit less would have called L3 as L4.

L4 or TBT as per NSE domestic tariff is

1572761799290.png

fat jayegi bhai :DD
and thats way too much data anyway.
What you mentioned about prop trading, could be, but this data can only be consumed within co-lo.
co-lo costs are also very expensive.

Official blog calls it L3
https://zerodha.com/z-connect/featured/introducing-20-depth-or-level-3-data-beta-on-kite


L3 rates as per latest doc are: ( These seem to include tax )

1572762018144.png


https://www.nseindia.com/content/press/Download_Real_Time_Tariff_Domestic_New.pdf

Still L3 is pretty steep

Edit: Correction regarding the blog. Yes, they have mentioned that their L4 data is converted to mkt depth 20 and then broadcasted to clients.
Anyway, didnt want to make many changes to the post, but it does make one wonder. A lot of questions to ask :DD
 
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bpr

Well-Known Member
I think they meant its L3, in few places, maybe someone knowing a little bit less would have called L3 as L4.

L4 or TBT as per NSE domestic tariff is

View attachment 38405
fat jayegi bhai :DD
and thats way too much data anyway.
What you mentioned about prop trading, could be, but this data can only be consumed within co-lo.
co-lo costs are also very expensive.

Official blog calls it L3
https://zerodha.com/z-connect/featured/introducing-20-depth-or-level-3-data-beta-on-kite


L3 rates as per latest doc are: ( These seem to include tax )

View attachment 38406

https://www.nseindia.com/content/press/Download_Real_Time_Tariff_Domestic_New.pdf

Still L3 is pretty steep

Edit: Correction regarding the blog. Yes, they have mentioned that their L4 data is converted to mkt depth 20 and then broadcasted to clients.
Anyway, didnt want to make many changes to the post, but it does make one wonder. A lot of questions to ask :DD
TBT is always called as TBT ...nowhere it is refered to as L4 feed. Please stop calling it L4.

The way I see it anybody who can afford to subscribe to L3 might as well subscirbe to TBT not much difference and u get a superior feed but u also need more storage,processing overhead..

Maybe zerodha got this feed as a trading member meaning they cannot resell it as data vendor so they might have gotten this for way cheap.
 
onething even many experts are not realizing that it wont make much difference in manual trading ... Algos can flash orders and take out the quotes before they r filled ... u cant make ur decisions based on that... what they have done is tremendous and deserves appreciation but it wont be of much help to manual trading...
 

balab

Active Member
Is there any broker to compete with Alice Blue? 10x MIS margin in MCX and NSE, with 375 and 305 Rs turnover fees in the segments respectively. Anyone know of a better deal overall? For high volume traders? Fees is one time lifetime but I think they don't offer it now.
Also anyone offering combined NSE+MCX ledger?
 
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TraderRavi

MM is the holy grail
Is there any broker to compete with Alice Blue? 10x MIS margin in MCX and NSE, with 375 and 305 Rs turnover fees in the segments respectively. Anyone know of a better deal overall? For high volume traders? Fees is one time lifetime but I think they don't offer it now.
Also anyone offering combined NSE+MCX ledger?
Finvasia is offering combined NSE+MCX ledger. Brokerage is free but for leverage you have to pay additional/subscribe one of their plans.
 

bpr

Well-Known Member
onething even many experts are not realizing that it wont make much difference in manual trading ... Algos can flash orders and take out the quotes before they r filled ... u cant make ur decisions based on that... what they have done is tremendous and deserves appreciation but it wont be of much help to manual trading...
In US one datafeed is now supplying entrie depth of market
and here we are debating why we need more than 5.
Also there is new bunch of traders(OFA type) who plot historical DOM on charts and analyze
1573016837937.png

There is certainly some extra info ...but to what extent the trader can extract will depend on the trader
But we can all agree Zerodha is pushing for innovation and while others just playing catch up.
As long as that happens zerodha will remain the leader.
 

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