Zerodha - Number One Discount Broker in India

Firstly it is tough to determine what is a technical issue and who is responsible for this. So if you pass the buck to the brokerage, he might pass it onto the leased line guys,and so on.. Also what happens when there is a profit made because of any such technical issue?

The rule says that brokerages have to cover (not just in India, but any exchange around the world) if he has made any gain out of the error. So yeah the only thing a brokerage is liable to pay back in case of an error human or technical is if the brokerage made any gain out of it (basically the brokerage).

We at Zerodha, if there is a human error which is completely because of our dealer do reimburse as a goodwill, but we don't have to do it by law. Traders have to account for this risk while trading/investing in the markets. Technical risk at the brokerage, your internet, exchanges, wherever. You can look at so many incidents at the exchange level also which was never compensated.
Human error like say on call and trade, your operator punches a wrong order inspite of client giving correct instuctions , you are bound by law to compensate the client. I have recovered such loss from Sharek*** few years back after fighting for 6 months as the taped conversation with their dealer proved that I told then to sell my long position and asked them 3 times to make sure they have understood the order...they confirmed that they are selling...and actual contract showed they bought instead of selling...

But if the loss is due to server hanging, line failing etc brokers are not required to compensate...as it is written in risk disclosure document.

Smart_trade


Smart_trade
 

kiran_thiru

Well-Known Member
@ zerodha,
as small learning trader. i took trades only on capital of Rs.2000. so i generate brokerage from 30 to 50 on daily basis. if i got zerodha challenge, and may be i win, then you have no brokerage from me. how can this situation considered?

i think this is a silly question. but if i not reached brokerage that month, is there any penalty charges?

another, if an active trader stops trading for a month as his personal problems, or he did not reached your brokerage target, how is you took that situation?
not get answer from zerodha. posted my query @ 26/8. i think you missed it.
 
Human error like say on call and trade, your operator punches a wrong order inspite of client giving correct instuctions , you are bound by law to compensate the client. I have recovered such loss from Sharek*** few years back after fighting for 6 months as the taped conversation with their dealer proved that I told then to sell my long position and asked them 3 times to make sure they have understood the order...they confirmed that they are selling...and actual contract showed they bought instead of selling...

But if the loss is due to server hanging, line failing etc brokers are not required to compensate...as it is written in risk disclosure document.

Smart_trade


Smart_trade
So does the broker have any liability for anything apart from human error?
 
If i think Zerodha as a hot broker then having assumption of 50000 users with Rs 300/- per month , it would be generating 15000000 (1.5 Crore) per month !! This itself start the competition to start a new similar software !! AND what about users who are actively trading on zerodha but already have software on yearly subscription . I hope there would be optional to choose or not to use BUT still they would be missing such features :(
 

ryan4ucar

Well-Known Member
Don't know why people are getting fixated with 300 or 500rs as monthly fees ... its not like they will force the software upon you u can still go in with the old software for free if u dont want the new one. Its the old Indian mentality of trying to grab everything for free i guess. If the new software is really that good than it should help to raise your monthly pnl by some significant amount.

Generally in my opinion consistent losers and under financed traders cry about small charges like software and what will happen if broker makes a mistake the few rest just suck it up and focus on the process to make money. sorry to be crude but yeah the truth always hurts.
 

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