Zerodha - Number One Discount Broker in India

[Zerodha]

ZERODHA is the biggest fraud in indian markets. they should be banned immediately. had it been USA they would have been in jail. believe me,these Zerodha guys are trying a lot of web marketing efforts etc but i am telling you by my past experience as i was a zerodha customer. if anyone wants more proof i will happily share all details.

Web marketing? we haven't put one advertisement(except for a banner on traderji which we were asked to initially) anywhere till date, no google ads, nothing... The way we have been marketing is by giving tools and starting new initiatives like the 60day challenge, brackets, Trading Q&A, algoZ, Zconnect posts, and so many more. Buy if there has been any issue, do post it and will be very happy to clarify.

Cheers,

 

[sumitalwar]

dear zerodha

i have come to know that unicon has frauded many customers .

how can we rest assured about zerodha . ?

ps this is not an allegation but a request for clarification

 

[Zerodha]

dear zerodha

i have come to know that unicon has frauded many customers .

how can we rest assured about zerodha . ?

ps this is not an allegation but a request for clarification

Sumit, I can understand your concern and here are some of the things that will hopefully soothe your nerves about us:

1. We are debt free and profitable business, zero debt from the start and the last financial year we made over Rs 10 crores in after tax profits, much higher than pure retail brokerage plays out there (profits made from pure retail trading business).

2. We don't get into any margin funding activity, so we don't lend any money as well.

3. We are among the first companies in India normally to file our IT returns, usually companies that are going through trouble will first start delaying filing their IT returns or avoiding it completely.

4. There are probably just a couple of complaints that were ever filed against us on NSE, and nothing that has been moderately serious.

5. Finally the boys who run the business are from brahmin middle class families with a vision of building a technology business that also does broking, the vision is to become what https://www.robinhood.com/ (a google funded business) is trying to do.

Can keep writing more, but yeah these are a few...

 

[Trader J]

Sumit, I can understand your concern and here are some of the things that will hopefully soothe your nerves about us:

1. We are debt free and profitable business, zero debt from the start and the last financial year we made over Rs 10 crores in after tax profits, much higher than pure retail brokerage plays out there (profits made from pure retail trading business).

2. We don't get into any margin funding activity, so we don't lend any money as well.

3. We are among the first companies in India normally to file our IT returns, usually companies that are going through trouble will first start delaying filing their IT returns or avoiding it completely.

4. There are probably just a couple of complaints that were ever filed against us on NSE, and nothing that has been moderately serious.

5. Finally the boys who run the business are from brahmin middle class families with a vision of building a technology business that also does broking, the vision is to become what https://www.robinhood.com/ (a google funded business) is trying to do.

Can keep writing more, but yeah these are a few...

Dear Zerodha,

Thanks for reply. You have very large no of traders, how you control there trade by RMS ? On 16 may you block margin to 110 % but that day there was no volatility.

On 26 May lot of volatility, Nifty Down 250 Points in few minits frim its top, and that Day you have charging only 40% margin. I mean, no one know which day become volatile ?

Do you have few traders with debit account ?

 

[doc1987]

Web marketing? we haven't put one advertisement(except for a banner on traderji which we were asked to initially) anywhere till date, no google ads, nothing... The way we have been marketing is by giving tools and starting new initiatives like the 60day challenge, brackets, Trading Q&A, algoZ, Zconnect posts, and so many more. Buy if there has been any issue, do post it and will be very happy to clarify.

Cheers,

web marketing doesnt mean paid banners necessarily. it can mean starting affliate programs, promoting on forums etc

 

[doc1987]

scan proof and all later just tell us the matter....

BTW if you tell us about your favorite color then we will make the comment in that color and present... for now please adjust with pink :lol::lol::lol::lol::lol:

buddy, we will all take things in right spirit BUT lets take it lightly first as its nothing but just a blame that you making :thumb:

oh thanks bro! actually am new to this forum.ok i will tell the matter. i had opened a commodities account with zerodha few years back. i had deposited Rs 7,000 in it. now it was the first time i had traded on commodities then.
now i bought few lots of nickel, etc assuming that 1 lot means 1 unit i.e if nickel is 200 rs then i assumed i am buying rs 200 worth.
so i traded and saw the loss/ profit being shown was huge so i called their customer team and asked them and i was told that i need not worry as the loss/gains cant be huge as the positions get squared off automatically once loss of a certain % of my fund occurs.so i got relaxed as i had got some similar kind of error with that software with a different broker when i traded equities. but later i checked my online trading account and was shocked to see a loss of more than 2 lakhs rupees. i found that i was given limits of around 7 crores and even more!!! and i realised later that it is traded in lots where 1 lot means a big quantity of unit.i called zerodha and got the worst and unprofessional reply from their team: "computer se nikal ke chaku marke khun karege", "first thing in the morning u will be behind bars", "kisko ullu bana raha hai tu? paise de hamare" and many more things which i dont remember now.
i was tensed and couldnt sleep that night. i got a letter from them saying i owe them some 2 .4 lakhs and then suddenly i started getting letters from them since last year december threatening me with legal action,etc
i want to tell u all boarders here: i have clearly written in the kyc account opening form of nil experience in commodities before so how do they allege that i am lieing?
they allege that no rms system is foolproof and so its my responsibilty but what do they say about the call which i made to their team and asked about it and was told that its not at all possible to have loss more than a fixed % of my funds in account.
moreover its not my responsibilty to ensure their rms system works correct.
i had written to their ceo,customer care etc but no reply.
they dont have an answer and are saying false things to MCX where the matter is going to be heard.
i told them to produce the telephone records where their customer team had said the abuses when they say "they have not made any unprofessional comment"
friends its all lies and dont ever open a account with them.
i am writing coz of u toughard and others who are really interested else i wouldnt have.

 

[doc1987]

Dear Zerodha,

Thanks for reply. You have very large no of traders, how you control there trade by RMS ? On 16 may you block margin to 110 % but that day there was no volatility.

On 26 May lot of volatility, Nifty Down 250 Points in few minits frim its top, and that Day you have charging only 40% margin. I mean, no one know which day become volatile ?

Do you have few traders with debit account ?

u are asking about their rms!! thats a good question. just read my above msg and u will understand it. no company will tell their weakness. i am a consumer like u. we can ensure these companies dont take us for a ride by sharing experiences with each other

 

[doc1987]

Dude why dont you admit that you are an RKSV agent using cheap tactics.:rofl:

I have seen your previous posts. :rofl:

what posts have u seen? pls tell me. before alleging always come out with proofs. i am no agent.i am a doctor by profession. but i doubt u might be an agent thats why u r writing like this. zerodha has many agents in many other communities i have seen. if one analyses closely one can find there are many blogs which are promoting it.u know why? its coz that is affliate marketing and the blog owner gets money from the accounts opened by clicking the links.

 

[doc1987]

Yes please do post. everyone here is eager to find out how zerodha is a fraud.

if you didn't have the time to make the post , then you shouldn't have made the claim in the first place.

Next time, please post the proof and then come to the conclusion.

you dont want to believe dont believe i dont care,okay? i am not obliged to show proofs to u. u can "request" but not "order" as i am doing this for the help of other people.

 

[doc1987]

U do not make any sense.....Zerodha must be credited with bringing transparency in this Broking World and coming out with a value proposition unmatched earlier....with a better trading platform than majority of the established Brokers....

I have strong objections to whatever you have written If you have any issues be free to bring it forward...but using words like fraud raises suspicion to your real objective without giving Zerodha an opportunity to redress your grievances if any

hmm well bro nzerodha has written all kinds of false things in their MCX complaint. i can show u here. i can understand that as i myself believe only on proofs. i have already contacted them and i have posted in this thread about the kind of replies i got from them