Zerodha - Number One Discount Broker in India

[Newbie Day-Trader]

In my view, I am attached with smoothness of mobile platform of zerodha.
As I seldom trade with them but using Kite for seeing quote, so not withdrawing all money.

Also, I have not found any discount broker with these number of good facilities. Although this signifies that I m having split minded as withdrawing 75% of fund but still continuing some small trading there at Zerodha.

I've not traded off of different mobile-platforms a lot but yes, mobile-Kite is pretty good so far as mobile-platforms are concerned; although I'm not sure if you have to have money with them to be able to access their platforms (except Pi I think but even that's like Rs.10,000)

Right, I agree. I've never seen any nefarious practices by Zerodha in all of these years I've been with them, I also like their customer care, I feel like I can always rely on them for most things but it's unfortunate that they're failing consistently at providing the MOST IMPORTANT thing for a trader, that is, a stable & reliable platform. Fortunately, I've never lost any significant amount of money due to their platform-glitches but I've seen posts of other members here, whereby they couldn't close their open positions, SL's not working, etc. while the market is going against them, it's horrible enough just to think about it; such things are absolutely unacceptable.

 

[kingsmasher1]

Why not, especially when two accounts in Zerodha show different prices? http://www.traderji.com/brokers-trading-platforms/89121-zerodha-part-3-a-1546.html#post1227244

Zerodha has stooped to a new low today. Two accounts with them both have different prices for future and spot. And for options. Both the accounts having mismatched prices that are 30-40 points difference in bank nifty. God help traders that are using this junk of a program called pi.

This sounds like a one-off incident to me. There are so many other people using this platform, if there was such a brazen mistake, it should have come to light much earlier.

Pardon me, though i know you guys have been with zerodha and familiar with them much longer, but tell me -
- How many broker you see, starts innovative and exciting stuffs like tradingqna forums?

- How many brokers you see did even 1% effort to share knowledge about the intricacies of trading like zerodha varsity?

- How many brokers you see, have started stuffs like 60-day challenge etc?

Though i am new to them, but seems to me Zerodha tries to do things much differently than others. There might be some one-off issues, or some technical glitch which should be highlighted to them.

Again, if there is a mismatch between two different instruments in two accounts, i would be more interested to know, what zerodha has replied to it - Was a ticket opened with them? What was their response? Posting here in the forum instead of letting them know, won't help i guess.

In this short span of time, a month back, even I suffered a loss with zerodha due to a technical glitch (kite "exit" not responding), and the loss i suffered was more because i was trading with futures, but their way of addressing things and their different initiatives (forums, varisty, 60-day-challenge, competitions like "share your trading strategy" etc), made me think that they are perhaps new, and if we have some patience, it would be much rewarding the way they are progressing, and i tried with them after a long gap again, with the kite platform, with some low risk equities, and i found it great !!

 

[timepass]

In this short span of time, a month back, even I suffered a loss with zerodha due to a technical glitch (kite "exit" not responding), and the loss i suffered was more because i was trading with futures, but their way of addressing things and their different initiatives (forums, varisty, 60-day-challenge, competitions like "share your trading strategy" etc), made me think that they are perhaps new, and if we have some patience, it would be much rewarding the way they are progressing, and i tried with them after a long gap again, with the kite platform, with some low risk equities, and i found it great !!

Their way of addressing things ???

Like the phones and emails not being responded to ?? Great.

Have some patience ??
6-7 years it has been.

 

[kingsmasher1]

Their way of addressing things ???

Like the phones and emails not being responded to ?? Great.

Have some patience ??
6-7 years it has been.

Agreed, 6-7 years definitely sounds too long, and high time to start reacting more proactively.

 

[ankur07090]

 

[ap*]

This sounds like a one-off incident to me. There are so many other people using this platform, if there was such a brazen mistake, it should have come to light much earlier.

Pardon me, though i know you guys have been with zerodha and familiar with them much longer, but tell me -
- How many broker you see, starts innovative and exciting stuffs like tradingqna forums?

- How many brokers you see did even 1% effort to share knowledge about the intricacies of trading like zerodha varsity?

- How many brokers you see, have started stuffs like 60-day challenge etc?

Though i am new to them, but seems to me Zerodha tries to do things much differently than others. There might be some one-off issues, or some technical glitch which should be highlighted to them.

Again, if there is a mismatch between two different instruments in two accounts, i would be more interested to know, what zerodha has replied to it - Was a ticket opened with them? What was their response? Posting here in the forum instead of letting them know, won't help i guess.

In this short span of time, a month back, even I suffered a loss with zerodha due to a technical glitch (kite "exit" not responding), and the loss i suffered was more because i was trading with futures, but their way of addressing things and their different initiatives (forums, varisty, 60-day-challenge, competitions like "share your trading strategy" etc), made me think that they are perhaps new, and if we have some patience, it would be much rewarding the way they are progressing, and i tried with them after a long gap again, with the kite platform, with some low risk equities, and i found it great !!

What makes you think i have stuck to posting it here and not sending them a mail ? a friend of mine lost 30k in this mess. I myself in the past have lost almost a lakh thanks to zerodha. This isnt a joke. Trading is a very serious business and not some timepass hobby for us to be casual about such a screw up. Giving different prices on two accounts is an inexcusable crime. Is zerodha doing us this service for free ?

I was one of their first customers in town. I have taken part in and won their challenges in the past. I appreciate all their efforts and innovations. None of it matters or makes any sense when they screw up in such a manner.

There is far better information available here for free compared to zerodhas trading qna or varsity. If they could stick to their basic job and do it right it would make me and all of their customers far happier than any of the PR nonsense they do while still messing up on a customers fundamental right of correct information and prices. And yes i got an apology via email in reponse to my "ticket".

 

[Subhadip]

Agreed, 6-7 years definitely sounds too long, and high time to start reacting more proactively.

I think ur new.

Better to wait till u know everything in details.
U will experience like everyone..just wait some days.

Zerodha was best.that is why so many people with them..

Now divorce process started..it will take time.

I have already divorced.

Rather Zerodha is now my half ex girl friend....could not find any better word than this " half ex girl friend".

 

[josefjohny]

There is far better information available here for free compared to zerodhas trading qna or varsity. If they could stick to their basic job and do it right it would make me and all of their customers far happier than any of the PR nonsense

This so true.

 

[traderniftybull]

Can someone please cite the reasons/cases,
- When exchange will/may impose penalty on broker, in case of misconduct or breaking of rules by a client/trader and
- Can broker recover that penalty from client
and/or
- Broker will/may impose penalty/fine on a client misconduct or breaking of rules

Thanks

 

[Smart_trade]

Can someone please cite the reasons/cases,
- When exchange will/may impose penalty on broker, in case of misconduct or breaking of rules by a client/trader and
- Can broker recover that penalty from client
and/or
- Broker will/may impose penalty/fine on a client misconduct or breaking of rules

Thanks

Yes,any charges/penalties which exchanges/Depositories impose on a broker because of misconduct or breaking rules by the clients the broker is entitled to pass on the same to the concerned client. But it has to be proved that the client was responsible for such penalty.

Examples : Suppose you have Rs 50,000 in your account and you bought shares worth 60,000 ( most brokers except online brokers will allow this ) and you are supposed to pay before pay-in date and time ( meaning your money should reach the brokers bank account by that time...merely giving cheque wont help) so the broker is entitles to charge interest on this shortfall and also the demat charges which he incurs because he has to hold this delivery in his account and transfer to you only on receipt of full payment.

In case the client sells shares and he delivers less or no shares...then the shortfall is auctioned.The entire auction bill the broker can pass on to the client and recover from him with penalty if exchange has charged some penalty.

In case of T to T shares if someone sells the shares and covers them on the same day, still being T to T they are required to give delivery of shares sold and pay for the shares bought..no netting is allowed....such shortages have huge penalty and broker recovers the same from the client. Hence most of the brokers either wont trade in T to T shares or will flash a message that share is in T to T which will alert the client before he places the order.

But the fines and penalties exchange imposes on a broker for shortfall in margins,bank guarantee,failure to submit information in time etc broker cannot pass to the client.

NSE fines are substantial and a normal broker ends up paying few lakhs per year as fines/penalties to NSE.

Smart_trade