Zerodha - Number One Discount Broker in India

[throwawayacc123]

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).

What makes it attractive will be

1. Cheaper cost.
2. Ease of usage(Focusing on trading rather than issues with application)

Like you said many are using "free" data usage. you think that data is reliable. you don't even have an idea if your trading strategy is giving you the right or wrong signal because of wrong data feed. This reason alone is enough to not use the "free" data provided by many illegal data providers and other hack utilities. But many do simply because they don't care about correct data and how it impacts their strategy. They just want free signal on their chart and make money. They are just too lazy to do the hard work like the rest of the traders.

yes Zerodha will have to make some profit out this otherwise why would they start this and if you call it "milking" then i don't know what world you are living in. By your definition then every business is out there to "milk" you. LOL.

Look it doesn't matter what you think or i think about it. Time will tell if PI is worthy to the trading community and if it is worthy and i we have another option apart from amibroker/esignal/metastock and god knows we need more options in this area.

There is practically no competition in the data feed + application in this country. As internet penetration is growing in the country and trading becoming cheaper, Zerodha will be the leader in this area at least few years down the line and many brokerages will shut shop.

I can tell you that Zerodha is trying hard to survive in this cut throat business. if they don't keep innovating and adding value , they will have the fate of many other failed brokerage business and they know it. This is true not just for a brokerage business like Zerodha, it's true for ANY business including trading.

 

[timepass]

What makes it attractive will be

1. Cheaper cost.
2. Ease of usage(Focusing on trading rather than issues with application)

Like you said many are using "free" data usage. you think that data is reliable. you don't even have an idea if your trading strategy is giving you the right or wrong signal because of wrong data feed. This reason alone is enough to not use the "free" data provided by many illegal data providers and other hack utilities. But many do simply because they don't care about correct data and how it impacts their strategy. They just want free signal on their chart and make money. They are just too lazy to do the hard work like the rest of the traders.

yes Zerodha will have to make some profit out this otherwise why would they start this and if you call it "milking" then i don't know what world you are living in. By your definition then every business is out there to "milk" you. LOL.

Look it doesn't matter what you think or i think about it. Time will tell if PI is worthy to the trading community and if it is worthy and i we have another option apart from amibroker/esignal/metastock and god knows we need more options in this area.

There is practically no competition in the data feed + application in this country. As internet penetration is growing in the country and trading becoming cheaper, Zerodha will be the leader in this area at least few years down the line and many brokerages will shut shop.

I can tell you that Zerodha is trying hard to survive in this cut throat business. if they don't keep innovating and adding value , they will have the fate of many other failed brokerage business and they know it. This is true not just for a brokerage business like Zerodha, it's true for ANY business including trading.

Yes, I believe that they would add value to their Rs. 20 per trade plan, rather than bring it down. I think they will absorb the cost of Pi.

 

[aman.sharma0091]

What kind of world are you living in? Wake up my friend.

1. First of all keep your judgmental bullshit away from me.

2. Second, Zerodha is not a data vendor. They will get the data for Pi in same way they get for Nest.

3. And please read my comment again I didn't ask everything for free. Were you not to able comprehend two of those terms I talked about : "Basic", "Premium"?

4. If you charge for a basic tool which allows to place the orders and analyze the market activity then there's no need to call yourself a discount brokerage. In fact it was Zerodha itself who claimed that they aspire to become like https://www.robinhood.com/. I hope you remember.

5. Moreover they're launching it because at present almost everyone here hates Nest for its problems. Everyone here only have requested Zerodha to provide them with a terminal which doesn't crash frequently during market hours, doesn't have problems such as needing to reconcile and doesn't takes too much time to load. Have we asked too much from Zerodha? Is it not their duty to fulfill their customer's basic request? Or are they like Indian Government who says to its citizens,"Go figure out yourself"?

 

[megapixel]

What is a correct data feed ?

 

[Jai Mata Di]

Zeroda's long time stance:"Why should U pay in advance & then force urself to trade?"

Cost I don't think will really be a factor..

I just want to remember, following is Zerodha's long time stance. Every time they say this..

"We believe that we should never charge advance brokerage. You should use our services and then pay us a very nominal fee...
This is the only way you and I both will benefit....
Why should you pay in advance and then force yourself to trade?
On the other hand, if you have traded, you don't mind paying a small Rs. 20. " :thumb:

- Zerodha.


No need to change stance & charge advance payment for PI & force old clients to trade more.
So, easiest option for Zerodha, within previous stance is they can increase brokerage little more.
If PI is good enough, we can give you Rs 25 easily instead of Rs 20 which is 25% increment. A fair deal. :clapping:


Best Wishes.
Happy Trading.

H.C.

 

[market oracle]

So In this platform Pi, Zerodha is using data feeds from NEST providers? I have used NEST and ODIN Diet, and I so see that there us a vast difference in usage. ODIN ranks far better in features and performance in my opinion. The vast discussion on NEST and NSE NOW on traderji baffles me. It is as if they are some crazy ass rocket science platforms.

Coming to the new platform Pi, traders expect a decent all in one platform which is reliable. Features such as click on chart to trade sounds great. But when a platform like Pi is built on APIs and is reliant on NEST. I'm expecting a lot of glitches as it seems to be yet another retail level fancy looking stuff..

P.S - Migrating from one platform is a pain.

 

[timepass]

Re: Zeroda's long time stance:"Why should U pay in advance & then force urself to tra

I just want to remember, following is Zerodha's long time stance. Every time they say this..

"We believe that we should never charge advance brokerage. You should use our services and then pay us a very nominal fee...
This is the only way you and I both will benefit....
Why should you pay in advance and then force yourself to trade?
On the other hand, if you have traded, you don't mind paying a small Rs. 20. " :thumb:

- Zerodha.


No need to charge stance & charge advance payment for PI & force old clients to trade more.
So, easiest option for Zerodha, within previous stance is they can increase brokerage little more.
If PI is good enough, we can give you Rs 25 easily instead of Rs 20 which is 25% increment. A fair deal. :clapping:


Best Wishes.
Happy Trading.

H.C.

The customers may not see an increase of 25% as attractive. Quite a few may decide to continue with whatever their present solution for charting, and move over to other discount brokers, like the ones offering Rs. 15 or Rs. 9 or Rs. 1 per trade or something of offering fixed monthly fees. Zerodha will have to factor in how many traders will really opt for higher brokerage.

It's all in future anyway. Let's see what they come up with.

 

[age_of_turbulence]

For what it's worth - I would be shocked if Zerodha does charge anything for Pi. I personally don't really care - I use Reuters Xenith/Metastock and won't be shifting out because I get plenty of other stuff which Pi won't be able to give me. But yea - I'd rather execute using Pi than this dodgy Nest stuff - which isn't always reliable. Zerodha's model is closer to IB and they provide a lovely platform and a reasonable deal. If Zerodha wants to make an executing software chargeable, I'll be off to enjoy IB's services and I'm sure I won't be alone. I think Nithin's a smart, long-term vision kinda guy - so I'd place a wager on Zerodha not increasing charges.

 

[Jai Mata Di]

Re: Zeroda's long time stance:"Why should U pay in advance & then force urself to tra

The customers may not see an increase of 25% as attractive. Quite a few may decide to continue with whatever their present solution for charting, and move over to other discount brokers, like the ones offering Rs. 15 or Rs. 9 or Rs. 1 per trade or something of offering fixed monthly fees. Zerodha will have to factor in how many traders will really opt for higher brokerage.

It's all in future anyway. Let's see what they come up with.

Probably you are right. But, as long as 60 challenge & brokerage return scheme is going on, they can charge higher brokerage [IMO]...
Also they can refund 50% brokerage for winners take rest for cost of PI.
Anyway we want flexible option, no advance payment and less over head cost on traders when they clearly said they will charge for PI.
Lets hope for the best.

Happy Trading.

H.C.

 

[seetharamank]

sirs u r providing nestplus what are the service provided under that.can u please enlighten me please. and i am told u r launching ur own trading software does it have charting facilities