Zerodha - Number One Discount Broker in India

I don't get it why you guys are talking about charges for Pi? Why do we(traders) have to pay for basic things that are essential to trade? If Zerodha also start charging us for the new platform then how they are here to change the current scenario?

I am not saying that they should give us everything for free but instead they can let us use basic things for free and only charge for premium/extra stuff.
 

megapixel

Well-Known Member
Zerodha ,

Is it possible to place GTC / VTD / GTD order for Stocks ?

want this facility in online version. Sharekhan has MyGTC order for Equities.

How ?
 
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megapixel

Well-Known Member
Zerodha is going to kill other broker's business :)

after PI ... other brokers will find hard to get a berth in the competition ....zerodha miles ahead of them.


Zerodha should now concentrate on building world class back-office .... others are miles ahead of zerodha in terms of back office :)

two things that require immediate attention ..

(a) real time rate integration in back-office
(b) analytics part in back-office

Hope zerodha will put an end to this issue.

Thanks for all of your hard work
 
I don't get it why you guys are talking about charges for Pi? Why do we(traders) have to pay for basic things that are essential to trade? If Zerodha also start charging us for the new platform then how they are here to change the current scenario?

I am not saying that they should give us everything for free but instead they can let us use basic things for free and only charge for premium/extra stuff.
i also agree with this statement even tradetiger also provide similar kind of platform . and they are not charging from old customer i used their chart earlier.even intractive broker dont charge..and they provide plugin to amibroker..
 

manojborle

Well-Known Member
Yes, But check IB's transaction charges..we will all faint. So, every business has some chargeable feature that attracts the customers. Zerodha already doing 20Rs trades with lowest trx charges on the industry and now, we want free software(or close to free).

God bless them for this innovation. All big brokers have no chance now and discount brokers have already spent a sleepless night yesterday(after this announcement).

Having said all this, they should have a real robust server without any disconnection in vending data during market hours(extremely important - more than the charges and all fancy features). So, we are all in 'hurry up and wait' mode. Lets see how it unfolds.

Is the charges too much ?
 
i also agree with this statement even tradetiger also provide similar kind of platform . and they are not charging from old customer i used their chart earlier.even intractive broker dont charge..and they provide plugin to amibroker..
Are you sure of this? I had requested that some provision be made for an Amibroker feed but some members said it is not possible as they are not data vendors.
A plugin for Amibroker is also fine.
 
I don't get it why you guys are talking about charges for Pi? Why do we(traders) have to pay for basic things that are essential to trade? If Zerodha also start charging us for the new platform then how they are here to change the current scenario?

I am not saying that they should give us everything for free but instead they can let us use basic things for free and only charge for premium/extra stuff.
They will HAVE to charge for Pi because data feed is very expensive. This is one of the reasons why we have only two or three authorized data feed providers in India.

Zerodha will have to

1 .cover the data feed charges
2 .Provide PI application support.

These two will cost them and they have to charge us to sustain these two costs. Support of PI application will be ongoing because the numerous issues it will have and new features they will have to add.

you really think you will get everything from your broker for Rs 20. What kind of world are you living in? Wake up my friend.

and for Zerodha, please don't try to act like there will be no issue with PI as you will try to do it shortly after release. Many people know and understand the business of application support, me being one. So if you try and do that i will catch you. No harm in admitting mistakes. Take it in best interest and improve on it. This way you will earn more respect from community. Even esignal/amibroker/metastock has it own share of issues and these are supposed to be best in class after many many versions.

I also hope that you will do a proper BETA release of PI , so that you can avoid a lot of headaches and frustration for users after official release. I know you will do it if you are smart. i don't expect it from you though since you are not a software company. But since it is built in house you can afford to do it.

It would also be nice if you could mention the charges in advance. I just hope it will be cheaper than say esignal/amibroker/metastock + data feed charges.
 
They will HAVE to charge for Pi because data feed is very expensive. This is one of the reasons why we have only two or three authorized data feed providers in India.

Zerodha will have to

1 .cover the data feed charges
2 .Provide PI application support.

These two will cost them and they have to charge us to sustain these two costs. Support of PI application will be ongoing because the numerous issues it will have and new features they will have to add.

you really think you will get everything from your broker for Rs 20. What kind of world are you living in? Wake up my friend.

and for Zerodha, please don't try to act like there will be no issue with PI as you will try to do it shortly after release. Many people know and understand the business of application support, me being one. So if you try and do that i will catch you. No harm in admitting mistakes. Take it in best interest and improve on it. This way you will earn more respect from community. Even esignal/amibroker/metastock has it own share of issues and these are supposed to be best in class after many many versions.

I also hope that you will do a proper BETA release of PI , so that you can avoid a lot of headaches and frustration for users after official release. I know you will do it if you are smart. i don't expect it from you though since you are not a software company. But since it is built in house you can afford to do it.

It would also be nice if you could mention the charges in advance. I just hope it will be cheaper than say esignal/amibroker/metastock + data feed charges.
What makes you think that Pi will be so attractive that most of the traders will want to pay for it ? All of them are doing without it at present, and the charges may be just enough to put them off Pi, and maybe continue with the other options. I am not using Amibroker, but a lot of people are using the unlicensed version as you are aware.

I think that Zerodha being expert marketing professionals, will offer it free for a certain period, while working out their costs and how much they can milk the market, and then will come up with the final decision.

Already there are a lot of competitors in the discount brokerage field, after Zerodha started it (not counting RKG @999 per segment).
 
Is the charges too much ?
Well, It is definitely high if we include their brokerage commission as well. I should have mentioned that in the previous post. Lets see the big picture with an example.

For convenience purpose, we will assume that the trader trades futures and the turnover for the day is 1 crore. With the currrent price of Nifty, just 600 shares(12 lots) would get us 1 cr turnover approx.

1. Ib's trx charges are 190/leg..So, for a round trip trade,it is 380/trade/cr

2. Commission a.k.a brokerage = 0.01% of 1 crore = Rs.1000 for overnight trades. But if a person, opens and closes the position intraday, then it is Rs.500 (for intraday trades, they charge only on the opening leg)

3. For cost tier plan, it is actually 0.012% if turnover less than 50 crores for the month. For fixed plan, it is 0.01%.

Other charges are govt charges..so, they are all the same across brokers.

So, with IB, if a trader trades 12 lots and trades intraday(and the turnover is 1 cr), then he would pay 380+500 = Rs.880. If he carries over position, then he pays 380+1000 = Rs.1380.

With zerodha, if a trader trades 12 lots and trades intraday (and the turnover is 1cr), then he pays 210+40(brokerage) = Rs.250. If he carries over position, it is still the same Rs.250.

So, essentially we are talking about - Rs. 880 vs Rs 250 intraday and Rs.1380 vs Rs.250 for carry overs in a day. If a trader trades everyday in a month once and his turnover is 1cr/day, then we are talking about huge difference - approx. Rs.10000 intraday trades saving and Rs.22000 swing trades savings (for 12 lots)

Now, you tell me if the charges are high with IB. Am not supporting Zerodha here and i have no vested interest with them (ofcourse i trade via Zerodha). Just trying to answer your question on the charges.

Different brokers charge differently and they have a business reason for that. As a customer, we should choose our brokers based on our needs. Costwise - IB is ridiculous. Feature wise, Zerodha is not that far behind with this new 'pi' software. So, thats why i was telling in the other post that Zerodha should have a real robust server without any disconnection in vending data during market hours. If they could give uninterrupted data with good s/w(for nominal costs -maybe 1000/month) and trading off the charts, nothing like it.
 
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manishchan

Well-Known Member
Loads of speculations/predictions while Zerodha people might just be high on booze celebrating their anniversary over this weekend :D

I'm sure Zerodha would already have all the technicality, charge or don't charge, provide beta or don't provide beta etc things planned out. If they have shown the trailer, the movie might not be far away and I am doubtful that they will change anything at this point of time. Why not we let them publish it officially and then like it, hate it or protest it. ;)
 

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