Zerodha call-and-trade charge of Rs 20 on MIS/BO/CO (intraday) orders

PRITESH

Algo Trader @ stocksdeveloper.com
#1
Zerodha now charges (20/- + taxes) on every intraday position that is not squared off before 3.20pm. Their system auto squares off each open position, and they charge 20/- per order.

Here is the link with full details:
https://zerodha.com/marketintel/Bulletin/363

Now this is the first time I have seen something like this. Are there any other brokers which apply such charges?

I am an intraday trader, and this is a worry for me, as I may have many positions open and as per my strategy I need to square them off as late as possible. So sometimes, I end up with open positions after 3.20 and have to pay "call-and-trade" charges.

Note that there is no "call made by me to the broker", zerodha simply applies call and trade charges for all open positions that are squared off automatically by them after 3.20pm.
 

cloudTrader

Well-Known Member
#2
Zerodha now charges (20/- + taxes) on every intraday position that is not squared off before 3.20pm. Their system auto squares off each open position, and they charge 20/- per order.

Here is the link with full details:
https://zerodha.com/marketintel/Bulletin/363

Now this is the first time I have seen something like this. Are there any other brokers which apply such charges?

I am an intraday trader, and this is a worry for me, as I may have many positions open and as per my strategy I need to square them off as late as possible. So sometimes, I end up with open positions after 3.20 and have to pay "call-and-trade" charges.

Note that there is no "call made by me to the broker", zerodha simply applies call and trade charges for all open positions that are squared off automatically by them after 3.20pm.
SAS Online also follow the same policy and that too since a long time. Zerodha adopted this policy a fortnight ago, almost.
 

MDK

New Member
#3
Zerodha now charges (20/- + taxes) on every intraday position that is not squared off before 3.20pm. Their system auto squares off each open position, and they charge 20/- per order.

Here is the link with full details:
https://zerodha.com/marketintel/Bulletin/363

Now this is the first time I have seen something like this. Are there any other brokers which apply such charges?

I am an intraday trader, and this is a worry for me, as I may have many positions open and as per my strategy I need to square them off as late as possible. So sometimes, I end up with open positions after 3.20 and have to pay "call-and-trade" charges.

Note that there is no "call made by me to the broker", zerodha simply applies call and trade charges for all open positions that are squared off automatically by them after 3.20pm.
My broker does not have such charges for auto square up of MIS orders by RMS team - but going thru the fine print in the Bulletin it seems Zerodha is putting its deficiency in infra as a reason (which it does not want to upgrade for reasons best known to them) - whereas it would literally mean I will start squeezing you from wherever possible once you enroll with me.

As a businessman if i find that my servers are not upto the requirement due to increase in traffic I would very well upgrade that and ensure that I get more business and not put brakes on it.

It is akin to IRCTC site a few years ago when you could not log in and when asked they would site huge traffic as an issue - today with the traffic multiplying the site is good enough just because they have upgraded their infra

With more traffic expected due to increase capital market activity they may ration the number of trades you can put -
God help them
http://www.traderji.com/images/icons/icon9.gifhttp://www.traderji.com/images/icons/icon9.gif
 

headstrong007

----- Full-Time ----- Day-Trader
#4
but going thru the fine print in the Bulletin it seems Zerodha is putting its deficiency in infra as a reason
Charging customer for their own fault like a deficiency in infra.. Previously capped brokerage refund to 1st 30000 then 6000 blaming to scalpers...now delaying the refund too..
Active Traders are intelligent species. No so stupid what Z.. think... :annoyed:
Losing their reputation fast...
 
#5
Many brokers charges call and trade charges, if their RMS team square off MIS orders
My broker levies such a charge.
And I do not find anything wrong in this.

Why not traders are so careful to close their MIS trades within time, and if they want to trade till 3.30, then they should pay full margin and take their trades for overnight.
 

kaly422000

Well-Known Member
#6
fyers is only one that dont charge call and trade but their brokarage cap is rs 100/ but some problem with their demat partner IL&FS. they are adding one ecs form or rather NACH option to debit bank account directly and that is minus point. better to attach ur another demat account with fyers.
 

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