Zerodha has silently ended it's 60-days challenge

msdtime

Active Member
#1
Just found out that Zerodha has ended it's 60 days challenge. The sneaky decision came after the through bashing by trader community for the hasty release of the bug ridden and completely unreliable trading platform marketed as Kite 3.0.
Zerodha, which recently celebrated being #3 Broker on D-Street, and announced the achievement on every platform possible including browser notifications to kite users, this time remained completely tight lipped.
The sources close to the development pointed out towards 3 possibilities.
1. Either Zerodha is going deeper and deeper and increasing competition is really burning into it's skin.
2. Zerodha has become behemoth without any substantial increase in infrastructure, which resulted in tremendous problems and large losses to traders. Hence it wants to cut size of the customer base while forcing remaining customers to pay more.
3. After facing ever increasing criticism for problems faced by traders on virtually daily basis, esp. the disaster called Kite 3.0 - overall HR load on Zerodha increased manifold. Firstly the current Development recruits are so pathetic that they can't handle even simple features which the free brokerage firm like Finvasia and Upstox also offer. So there was a growing need to hire some real coders. Also to avoid bad publicity zerodha have to decide to start a new dept of Official Stooges to get any critical comments on any social platforms esp. tradingqna deleted immediately (Nithin gave new meaning to word of mouth publicity!)
This over all increased the outlay and Zerodha is forced to milk as much brokerage from customers as possible.

At last it seems that the prophecy of someone called Kotak or someone else I don't remember is about to become reality in near future.
 
#3
Zerodha had capped its 60 days challenge brokerage refund to Rs 6000....from 25 April that also is stopped ? reason ? Too many profitable traders ? or too much of extra work on the back office staff ?

Smart_trade
 

msdtime

Active Member
#4
[QUOTE="Smart_trade, post: 1282223, member: 59422"..from 25 April that also is stopped ? reason ? Too many profitable traders ? or too much of extra work on the back office staff ?

Smart_trade[/QUOTE]
1. Yes, that also stopped including affiliate program
2. Reason - Only God and Nithin knows reasons behind anything that happens at zerodha.
3. Profitable traders?? With such a horrible platform called kite 3.0? I doubt.
4. The only active dept currently at Zerodha is Mods of Tradingqna. Nay they are hyperactive.
 
#5
There has been no mail or even terminal notification.

But it seems that all the existing challenges will be honored. Only the challenges STARTING after 25th April will not get any cash refund.

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https://zerodha.com/60-day-challenge
 

Raj232

Well-Known Member
#6
Zerodha had capped its 60 days challenge brokerage refund to Rs 6000....from 25 April that also is stopped ? reason ? Too many profitable traders ? or too much of extra work on the back office staff ?

Smart_trade
Being a technology company, I would believe that the process is all automated, so-called backoffice staff is almost non-existent in Z ...
 

headstrong007

----- Full-Time ----- Day-Trader
#9
Zerodha had capped its 60 days challenge brokerage refund to Rs 6000....from 25 April that also is stopped ? reason ? Too many profitable traders ? or too much of extra work on the back office staff ?

Smart_trade
I think the reason is too much load on their infrastructure(manly terminal) by increasing number of clients day by day. It is going out of their hand now. So, they want to reduce Active Traders desperately.

60 Day Challenge End and they also stopped referral program which is only good to new attract active F&O clients bcoz a delivery based client doesn't generate any referral income.
So it is clear they want to cut new active clients also, who log in to their system for longer times. They are quite happy with delivery based clients who don't monitor stocks all the time hence giving less workload to their inferior infrastructure.

We saw whenever there is extra volatility in the market Zerodha System starts giving the problem.
I find a new volatility indicator after India Vix, it's Zerodha Terminal. Whenever it creates a problem in the morning, I expect a big move is coming. The success ratio is very good. :p
 

headstrong007

----- Full-Time ----- Day-Trader
#10
Being a technology company, I would believe that the process is all automated, so-called backoffice staff is almost non-existent in Z ...
Yes, it is easy for them to increase back office stuff. But, changing terminal/tech infrastructure or boosting the performance of the terminal with increasing clients pressure is not possible(at least in near future).