Problems Facing With Zerodha Client Services.

[Zerodha]

Sorry. This is a misleading reply. I have tried your Zerodha trader. It is hardly a satisfactory platform. It is just another name of NOW. It is also wrong to say that there is a margin problem with most brokers and Zerodha is the first to fix it. You have not been able to fix it at least a of now. There is total confusion at your terminal.:annoyed:

Ravi, I understand the issue you had with the fund transfers and the reason is because the instant payment gateway for equity on ZT is still not live. Migrating to a new platform is a big exercise and hence we are moving people in small trenches.

SPAN calculator tells you the margin requirement upfront,

If it is the margin statements that you are finding confusing, this was done as per 100% accordance to NSE guidelines.. We are trying to make this easy..

Would love to hear any suggestion that you may have on improving this for you, you can email me on [email protected], also put a c.c to [email protected]

 

[Anillal]

Sorry. This is a misleading reply. I have tried your Zerodha trader. It is hardly a satisfactory platform. It is just another name of NOW. It is also wrong to say that there is a margin problem with most brokers and Zerodha is the first to fix it. You have not been able to fix it at least a of now. There is total confusion at your terminal.:annoyed:

Hello sir
When it comes to their trading platforms I am no fan of Zerodha either. It is worst practical joke omnsys or whatever circus played on them, in turn on us. But then all the brokers in India lack one thing or the other. I have been with oswals, religare, icicidirect, they are all useless. And they all lie. Compared to others I still like zerodha. At least they sometimes genuinely try to help their clients. However I wish that along with opeining doors to FDI in retail we should also consider letting metastock running brokers to enter. And in a week you will see that all these angel, indiabull, oswal would go begging outside some railway station.

 

[mrkanitkar]

Hello sir
When it comes to their trading platforms I am no fan of Zerodha either. It is worst practical joke omnsys or whatever circus played on them, in turn on us. But then all the brokers in India lack one thing or the other. I have been with oswals, religare, icicidirect, they are all useless. And they all lie. Compared to others I still like zerodha. At least they sometimes genuinely try to help their clients. However I wish that along with opeining doors to FDI in retail we should also consider letting metastock running brokers to enter. And in a week you will see that all these angel, indiabull, oswal would go begging outside some railway station.

I think, you may not be aware of CTCL rules and business. Exchanges in India have own software units who makes terminals. Brokers have to use aprpoved software only and not like MT4,MT5 or what ever. Govt. has no role to play in CTCL. It's decision of exchanges and Sebi only. NSE, MCX, BSE all are private companies and not officially owned by Govt. If they allow products like MT4, MT5, I am sure brokers do not have any issue to have it for clients. There is no way any one angel, indiabull, oswal would go begging outside some railway station due to this. That's just not possible in reality.

 

[mrkanitkar]

Sorry. This is a misleading reply. I have tried your Zerodha trader. It is hardly a satisfactory platform. It is just another name of NOW. It is also wrong to say that there is a margin problem with most brokers and Zerodha is the first to fix it. You have not been able to fix it at least a of now. There is total confusion at your terminal.:annoyed:

I am not supporter or do not have stake in NEST. There are more than 2 lac NEST terminals being used in live markets by people every day. NSE owns 26% stake in Omnesy- NEST and only 2 OEM companies are there for CTCL business, one Omnesy and second Financial Technologies (own by MCX).
Brokers except Indiabulls, Sharekhan, IIFL ( and two more), all have to use either ODIN, NEST (or now).
NOW is freely offered by NSE to brokers to make better offer against ODIN.
I am not supporting Zerodha trader against some other product. NOW is stripped down version of NEST. NEST have lot many features as compared to NOW and is also much stable product. To implement many things in online terminal broker needs NSE,BSE,MCX, Sebi approvals. It's not something he can enable overnight. Lot of features in NEST are as of now not enabled for clients as Exchange need to allow it, e.g. Bracket orders, trailing SL.

 

[Anillal]

I think, you may not be aware of CTCL rules and business. Exchanges in India have own software units who makes terminals. Brokers have to use aprpoved software only and not like MT4,MT5 or what ever. Govt. has no role to play in CTCL. It's decision of exchanges and Sebi only. NSE, MCX, BSE all are private companies and not officially owned by Govt. If they allow products like MT4, MT5, I am sure brokers do not have any issue to have it for clients. There is no way any one angel, indiabull, oswal would go begging outside some railway station due to this. That's just not possible in reality.

That is infrormative post sir, thank you. But like every trader I know all about this already. My post was to highlight the buggy and substandard trading platforms of which zerodha signs praises all the time but which in reality is just bad workmanship. People here split hair over brokerage and transaction charges but fail to understand that because of this bad workmanship they pay far more both mentally and financially in the end due to system freeze and what not which make them lose concentration and eventually money. I do not know about others but I hate to be distracted by this niggles when I trade. Couple of examples from Now. Start it and first thing it asks is to choose the service provider with this check box 'make it default'. Well I have been checking this box ever since but still the annoying question faces me first thing with check box always empty. The keyboard shortcut for options calculator ctrt pageUp (I think) never ever worked. I have to pull down the whole menu and then go for tools and so on. The system disconnects in the middle of trade, then reconnects and if you ask them why it happens, they become wise guys and try to blame it on your computer temp cache or ISP connection or put it all on to fancy term Latency. An ordinary computer user accepts all this yarn but never asks why does all the other trading platforms run smoothly while NOW is stuck. Odin for example runs without a glitch. There are many more issues I am sure. These are software issues sir, bad workmanship it is. I do not think SEBI and Exchanges etc have issued orders to Zerodha that they are forbidden to get these bugs fixed. A regular issuing of patches in few Kbs can fix such problems as they get reported by the clients. But they do not get them fixed because of the ever present 'chalta hai' attitude instead of professionalism. Except for this buggy trading terminal zerodha people as a whole are excellent individuals. And thanks to their entry in the market that people like religare or RKglobal or angel or oswal have come to their senses. By the way although I said brokers becoming beggers just as a metaphor but still I wouldn't be as sure of it never happening in reality as you are sir. Let's not forget that arrival of a tiny Maruti car made the pride of india, Ambassdor and Fiat, junk overnight. Once people earned decent living by working in Panama cigarette company. One tiny change in the regulation and company went bankrupt and those workers started selling bidi and paan outside the railway and bus stations. Anything is possible anytime sir.

 

[sr114]

That is infrormative post sir, thank you. But like every trader I know all about this already. My post was to highlight the buggy and substandard trading platforms of which zerodha signs praises all the time but which in reality is just bad workmanship. People here split hair over brokerage and transaction charges but fail to understand that because of this bad workmanship they pay far more both mentally and financially in the end due to system freeze [using ZT for last 1 year and never faced the situation u mention - no system freeze ever] and what not which make them lose concentration and eventually money. I do not know about others but I hate to be distracted by this niggles when I trade. Couple of examples from Now. Start it and first thing it asks is to choose the service provider with this check box 'make it default'. Well I have been checking this box ever since but still the annoying question faces me first thing with check box always empty. [actually there is no provision to save - but if u use 1 ISP for at least 3/4 days it never ask the choice of ISP]The keyboard shortcut for options calculator ctrt [not CTRT but CTRL]pageUp (I think) never ever worked. I have to pull down the whole menu and then go for tools and so on. The system disconnects in the middle of trade, once in a blue moon it freezes - today it freezes after 1.5 years]then reconnects and if you ask them why it happens, they become wise guys and try to blame it on your computer temp cache or ISP connection or put it all on to fancy term Latency. An ordinary computer user accepts all this yarn but never asks why does all the other trading platforms run smoothly while NOW is stuck. Odin for example runs without a glitch. [DIET ODIN have its own problem - and i think u ever used ODIN - its different ball game [ multi client code - not single code]] There are many more issues I am sure. These are software issues sir, bad workmanship it is. I do not think SEBI and Exchanges etc have issued orders to Zerodha that they are forbidden to get these bugs fixed. [Bugs will be fixed by Omnesys - not the provider like Zerodha who provides ( like the reseller of system who r to blame and not the developer) ]A regular issuing of patches in few Kbs can fix such problems as they get reported by the clients. But they do not get them fixed because of the ever present 'chalta hai' its same for all other brokers - attitude instead of professionalism. Except for this buggy trading terminal zerodha people as a whole are excellent individuals. And thanks to their entry in the market that people like religare or RKglobal or angel or oswal have come to their senses. By the way although I said brokers becoming beggers just as a metaphor but still I wouldn't be as sure of it never happening in reality as you are sir. Let's not forget that arrival of a tiny Maruti car made the pride of india, Ambassdor and Fiat, junk overnight. Once people earned decent living by working in Panama cigarette company. One tiny change in the regulation and company went bankrupt and those workers started selling bidi and paan outside the railway and bus stations. [strange that Panama Cigrette cos people were laid off and they started to sell bidis (who made the bidis - ITC or GTC or ??) and sold paan outside railway station. ]Anything is possible anytime sir. Really - anything is possible anytime

hope that u understood (blue colored words are the explanation)

 

[mrkanitkar]

That is infrormative post sir, thank you. But like every trader I know all about this already. My post was to highlight the buggy and substandard trading platforms of which zerodha signs praises all the time but which in reality is just bad workmanship. People here split hair over brokerage and transaction charges but fail to understand that because of this bad workmanship they pay far more both mentally and financially in the end due to system freeze and what not which make them lose concentration and eventually money. I do not know about others but I hate to be distracted by this niggles when I trade. Couple of examples from Now. Start it and first thing it asks is to choose the service provider with this check box 'make it default'. Well I have been checking this box ever since but still the annoying question faces me first thing with check box always empty. The keyboard shortcut for options calculator ctrt pageUp (I think) never ever worked. I have to pull down the whole menu and then go for tools and so on. The system disconnects in the middle of trade, then reconnects and if you ask them why it happens, they become wise guys and try to blame it on your computer temp cache or ISP connection or put it all on to fancy term Latency. An ordinary computer user accepts all this yarn but never asks why does all the other trading platforms run smoothly while NOW is stuck. Odin for example runs without a glitch. There are many more issues I am sure. These are software issues sir, bad workmanship it is. I do not think SEBI and Exchanges etc have issued orders to Zerodha that they are forbidden to get these bugs fixed. A regular issuing of patches in few Kbs can fix such problems as they get reported by the clients. But they do not get them fixed because of the ever present 'chalta hai' attitude instead of professionalism. Except for this buggy trading terminal zerodha people as a whole are excellent individuals. And thanks to their entry in the market that people like religare or RKglobal or angel or oswal have come to their senses. By the way although I said brokers becoming beggers just as a metaphor but still I wouldn't be as sure of it never happening in reality as you are sir. Let's not forget that arrival of a tiny Maruti car made the pride of india, Ambassdor and Fiat, junk overnight. Once people earned decent living by working in Panama cigarette company. One tiny change in the regulation and company went bankrupt and those workers started selling bidi and paan outside the railway and bus stations. Anything is possible anytime sir.

Sr has give all right info.
Just one point, brokers are like car dealers, they will not become beggars.
Have you seen dealers of Ambassdor or Fiat gone out of business? No, they took dealership for other cars and started selling new cars. An car dealer is not responsible for defects in car, he just makes his living by selling and servicing car. Even today Brokers own BSE, when BSE lost 70% market share to NSE, brokers did not go out of business, all of them are also members of NSE and now will become members of MCX equity exchange.

Trading is risky business for traders but not for vendors in trading industry (i.e. all business channels, business papers, analysts, anchors, brokers, exchanges, Govt, data vendors, software vendors, ISP, telecom cos).

I understand your frustration, no car dealer will say my car is bad having 100 defects, it all depends on market segment. If you expect Merc, BMW service then you can have Interactive brokers but then don't think about brokerage charges. Even with interactive brokers the quotes freeze as internet links is just not good enough in India. You need leased lines for trading. i.e. one of reason NSE do not allow complete automated algo trading from client terminal from home. Clients are allowed to do auto trading but from broker's office.

 

[RAVI1952]

Hello sir
When it comes to their trading platforms I am no fan of Zerodha either. It is worst practical joke omnsys or whatever circus played on them, in turn on us. But then all the brokers in India lack one thing or the other. I have been with oswals, religare, icicidirect, they are all useless. And they all lie. Compared to others I still like zerodha. At least they sometimes genuinely try to help their clients. However I wish that along with opeining doors to FDI in retail we should also consider letting metastock running brokers to enter. And in a week you will see that all these angel, indiabull, oswal would go begging outside some railway station.

I hope you are right and agree with you to a great extent,if not entirely. At the moment my concern is who is safe and best. My view is that "It is risky to trade Short options with Zerodha where Margin is a critical issue. Just think of a situation. You do not know the correct margin requirement by Zerodha as it is incorrectly displayed for overnight trade. Another situation"you have transferred the funds to Zerodha account but it is not updated. At the end of the day your positions are squared and you incur loss.
How will you feel? Will you like the Broker where positions are squared without intimating and all other conditions prevail as mentioned above. This is exactly Zerodha is. I have faced this music in my first trade and understand the difference between Zerodha and some others. I am trading with Indiabulls and have traded with religare. I would say that they have some other issues,but certainly not as risky to trade as Zerodha

 

[RAVI1952]

Ravi, I understand the issue you had with the fund transfers and the reason is because the instant payment gateway for equity on ZT is still not live. Migrating to a new platform is a big exercise and hence we are moving people in small trenches.

SPAN calculator tells you the margin requirement upfront,

If it is the margin statements that you are finding confusing, this was done as per 100% accordance to NSE guidelines.. We are trying to make this easy..

Would love to hear any suggestion that you may have on improving this for you, you can email me on [email protected], also put a c.c to [email protected]

I would have certainly liked to share with you. In fact I had prepared a draft to send it to you yesterday. Unfortunately, everyday, I get some new surprise from your office. Now I have begun to believe that there is no point in wasting my time and I should stick to the brokers where I get comfort. Those who believe that small saving in brokerage is good for them even at the cost of bigger risks elsewhere will certainly like to be your client but NOT ME.

 

[GTji]

Hello sir
When it comes to their trading platforms I am no fan of Zerodha either. It is worst practical joke omnsys or whatever circus played on them, in turn on us. But then all the brokers in India lack one thing or the other. I have been with oswals, religare, icicidirect, they are all useless. And they all lie. Compared to others I still like zerodha. At least they sometimes genuinely try to help their clients. However I wish that along with opeining doors to FDI in retail we should also consider letting metastock running brokers to enter. And in a week you will see that all these angel, indiabull, oswal would go begging outside some railway station.

You can use Metastock and still trade with NOW. Fancy disco lights on your trading terminal is not going to make you money. You need a platform with fast order entry and execution, and fast RT data which NOW.exe does an excellent job of. Nobody is stopping you to use Metastock or Amibroker for your analysis or charting needs. I am sure there is room for improvement, but I think currently this is the best we got, and its much better then what was available just a couple of years back. If you think there are other trading terminal (Indian), which are better for order entry & execution and RT Data, and don't stress your CPU too much then let me know. (Other than SK TT, ODIN DIET, IIFL TT, which I have tried and cannot compare with NOW in this regard.)