Zerodha - Number One Discount Broker in India

[Bane]

They already have a cap of 30000 , if they think 60 day challenge is proving costly then reduce cap further to 15000, but dont stop it.
90% traders lose so zerodha refunding brokerage to small group of traders.

Forget about 30000 they aren't refunded my 2500 brokerage for the competition which i won 25 days back.When i called they are saying they have some technical issue and will refund in 3 days.That 3 days also gone and there is no brokerage or certificate.

So it's better to stop the competition and focus on their services .:thumb:

 

[gvnarendra]

I am not able to make payin to my account. from the page we have noted to payin it does not open the banks page. So I am not able to make payment either through the pi or through old back office both tells cannot open the bank page. But if i go to banks page directly I can open the bank page. If I try to contact the support they are not lifting the phone at all.
gvnarendra

 

[vijkris]

Strange, becoz I too received a mail from them about the challenge, but it doesn't say anything about discontinuing the refund

congrats tp bhai:clap:
now u r a star trader and soon many will follow u ( if u participate in opentrade).
:clap:

 

[ocil]

Zerodha what is new update in PI? today i have received the update.

 

[bpr]

Zerodha's Email Forwarded my friend...........

60 day challenge with the entire brokerage refund bit was introduced to give us a strategic advantage over our competition when we had to offer the same vendor based trading platforms as everyone else.

But today, we have a huge competitive edge because of Kite, Pi, Q, Quant, and more. The time has come to stop the brokerage refunds on 60 day challenge, especially more with investing becoming absolutely free.

Starting April 1st 2016, all new 60 day challenges will entail the participant to win certificates, but no brokerage refund.

Cheers,

Is this for real or some hoax?

I did not receive any mail yet.

 

[Vipul_84]

Hi Zerodha & seniors, need one important clarificaion.
I am SAR type trader (always in market kind of strategy). So when I buy one lot of NIFTY futures with NRML carry forward I need around Rs. 45K as margin. Now when I have to place sell order, in that case I have to place sell order for 2 lots as I want to get out of my existing long position and also I have to initiate new short position. In this case, I am required to have margin of 90K. So essentially I have to keep 90K as margin for trading 1 lot of NIFTY Fut. Can you tell some better solution to this problem? Will using cover order work out in this case? Please answer.

 

[Vipul_84]

We have just joined Zerodha and this is a surely bad news if its true. One possible solution could be allowing first XX number of challenges with 100℅ refund and then reducing refund after every YY challenges. It should not be totally stopped as any stage. Newcomers will be sevrely discouraged.

We thought 60 days challenge was started for making traders consistently profitable by giving incentive to small traders and not for giving Zerodha any advantage over its competitors.They must have got big increase in their clientele due to 60 days challenge.Kite,Pi,Q and Quant is no reason for discontinuing 60 days challenge.The real reason could be increase in trading lots in F&O and Zerodha is getting Rs 20 for 75 nifty future now as against 3 small lots of 25 earlier from small traders netting Rs 60 for the same volume earlier as 90 % of Zerodha traders are small traders with less than Rs 1 lakh capital and they were trading 25 nifty at different time netting more brokerage.

Anyways,it is their decision but a good initiative is getting discontinued.This may make some of their traderrs shift to RKSV and other brokers. Better alternatively was to run 60 days challenge with a cap on brokerage refund at say 5,000, 10,000 or 15,000 per challenge.

Smart_trade

 

[timepass]

We have just joined Zerodha and this is a surely bad news if its true. One possible solution could be allowing first XX number of challenges with 100℅ refund and then reducing refund after every YY challenges. It should not be totally stopped as any stage. Newcomers will be sevrely discouraged.

or, stopping / scaling it down after a person has maxed out the 30K limit for 3-5 consecutive times.

 

[bpr]

Hi Zerodha, need one important clarificaion.
I am SAR type trader (always in market kind of strategy). So when I buy one lot of NIFTY futures with NRML carry forward I need around Rs. 45K as margin. Now when I have to place sell order, in that case I have to place sell order for 2 lots as I want to get out of my existing long position and also I have to initiate new short position. In this case, I am required to have margin of 90K. So essentially I have to keep 90K as margin for trading 1 lot of NIFTY Fut. Can you tell some better solution to this problem? Will using cover order work out in this case? Please answer.

no 45k will do ...RMS will take care...
make sure u have money for MTM though..

 

[Vipul_84]

NO BPR, RMS doesn't take care.

Say if I have 50K as margin and if I am already sold 1 lot NF, the available balance it will show is just 5K. Now I have to place another order of SELL 2 lots of NF , so thats not accepted quoting margin issues.

Zerodha, waiting for your answer....

no 45k will do ...RMS will take care...
make sure u have money for MTM though..