Zerodha - Number One Discount Broker in India

[shekharinvest]

If wrt Nifty, then GCI and XTB have been providing free data in MT4 for long.
GCI will have a 4 point difference, while XTB will have 2 point difference - that should be their brokerage.

GLS was providing good data - almost accurate, free until recently, but now being charged - again MT4 format.

GCI: Other than Nifty Future they also provide data/chart for few stocks as well ! REAL TIME. And it is such a breeze to use.

The only issue is the quoted price is at a little variance from the actual price i.e. it is inclusive of brokerage, for NF difference is 4 pt, and it differs with every security, it takes a while to comprehend wr.rt to actual price diff is .5 for one and .75 for other, kind of thing.

If GCI can provide for free why can't you, Even at a nominal price trader will love to use MT4 (for charting purposes only).

SHEKHAR

 

[Jai Mata Di]

Anyone here who use MT4/5, can you let us know of a reliable company selling MT4 and data for it?

Bangalore based firstcharting.com is providing good realtime MT4 data since 2012, it is reliable enough(except sometime few minor problem with opening data), but cost is on higher side (about 30K for both NSE & MCX).
They have stopped their MT5 service after few initial months, which was faster & better than MT4.

Best Wishes & Happy Trading.

H.C.

 

[Brill]

Installed the Nest Charts!!!

and my humble request - PLEASE ENABLE SHIFT+C CHARTS WITH 1m, 5m, 15m and 30m TF. THAT IS ALL


PS: (with all respect)We are not here to find and report the problems in the charting software. as i mentioned earlier Omnesys is making all of us(including Zerodha) just jokers or whatever.

 

[Jai Mata Di]

we can't give data from NEST/Pi to power amibroker/MT4 or any other charting platform, it is one of the most simplest things to give actually. If we do, that would mean we will kill exchanges's data vending business, and all these data vendors in the country http://www.nseindia.com/content/press/List_data_Vendors.pdf.

Just a thought, is there any problem if Zerodha give us 1min Live data export facility from Pi to Amibroker/MT4/MetaStock for ANY 3 or 5 or 10 Symbol?
Many Demo account have such facility with limited No of Scripts and exchange don't have a problem with it.
By doing this you'll not kill exchange's data vending business, but still can help many traders.
For example, if you give us data export facility (within Pi) for any 3 symbol like Nifty Spot, Nifty Future and Bank Nifty Future then lot of traders will be more than Happy.

Best Wishes & Happy Trading.

H.C.

 

[throwawayacc123]

Suresh, Metatrader is like a video game, they don't talk with any exchange, so of course it will be very light. A trading platform has to constantly talk with exchange for ticks, orders, order confirmations, trades, trade confirmations, snapquote data, and more. All this talking would mean that a trading platform will consume more data than a pure charting platform. A charting platform because of this is also more nimble than the trading platform.

@throwaway just saw your comment, we can't give data from NEST/Pi to power amibroker/MT4 or any other charting platform, it is one of the most simplest things to give actually. If we do, that would mean we will kill exchanges's data vending business, and all these data vendors in the country http://www.nseindia.com/content/press/List_data_Vendors.pdf.

About bandwidth consumption on Pi, like I had said earlier that would reduce as soon as our new data servers are up. We are all presently working on the last few issues on Pi. We should have the launch before the end of this year.

Why release it to clients and get feedback when there are many good ones in house? Our list of things to do on the trading platform side is too many, many of them are probably too early for India. We wanted to prioritize what has to be done based on client requests.

Does the NSE/MCX exchanges force you not to provide data to other charting platforms. Is there any law against it.

If there is such a condition put on by exchanges , then you cannot provide data feed to Pi as well.

How will data vending companies go out of business if you give provide data plugin to amibroker for your customers?

and how many indian data vendors are there may be 2 or 3 companies. So data vending is not even full-fledged industry.

US and other countries do this all the time. e.g. many brokers in the US provide data feed to esignal/tradestation/Metastock..etc , which have their own data feed service along with charting.

So who says that you cannot provide data feed to charting platforms like ninjatrader/amibroker/esignal...etc?

I think if there is a broker consortium in india , you should petition for doing this, as it is in the best interest of the customers.

Someone somewhere is greasing the wheels in NSE/MCX, as a result we are paying for data fees..:annoyed:

 

[LivetoTrade]

Can you address this issue please..

TP, did you install the new set of files? You need to download a fresh set of files as per their email, sent yesterday.

 

[srtrader]

Suresh, Metatrader is like a video game, they don't talk with any exchange, so of course it will be very light. A trading platform has to constantly talk with exchange for ticks, orders, order confirmations, trades, trade confirmations, snapquote data, and more. All this talking would mean that a trading platform will consume more data than a pure charting platform. A charting platform because of this is also more nimble than the trading platform.

@throwaway just saw your comment, we can't give data from NEST/Pi to power amibroker/MT4 or any other charting platform, it is one of the most simplest things to give actually. If we do, that would mean we will kill exchanges's data vending business, and all these data vendors in the country http://www.nseindia.com/content/press/List_data_Vendors.pdf.

About bandwidth consumption on Pi, like I had said earlier that would reduce as soon as our new data servers are up. We are all presently working on the last few issues on Pi. We should have the launch before the end of this year.

Why release it to clients and get feedback when there are many good ones in house? Our list of things to do on the trading platform side is too many, many of them are probably too early for India. We wanted to prioritize what has to be done based on client requests.

Zerodha,

See the below link,
http://www.aamaadmisoftware.com/subscription

They are providing data from NEST ODIN (Diet/Client), Angel Diet, NEST, NOW and IIFL TT to MT4 / Amibroker for Rs. 300 per month (SQA Package - 4).

If it is illegal then how these type of vendors are available in the market?

Please consider the interest of your clients. Even though your brokerage is low we spend extra money on other resources like charts.

 

[manjunnovates]

Zerodha,

See the below link,
http://www.aamaadmisoftware.com/subscription

They are providing data from NEST ODIN (Diet/Client), Angel Diet, NEST, NOW and IIFL TT to MT4 / Amibroker for Rs. 300 per month (SQA Package - 4).

If it is illegal then how these type of vendors are available in the market?

Please consider the interest of your clients. Even though your brokerage is low we spend extra money on other resources like charts.

Its outright legal. Its like selling pirated dvds, someone like me can go out and sell them but Yashraj or Eros wont. What the above guy is doing is just that,selling pirated dvds.

 

[agsuresh]

Yes this is most important thing. :thumb:

1. Pi can download 40,000 scrips or more, but only once a month after expiary and save it on our hard disk, then only incremental download when any new contracts are added.

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2. Already said here, Meta Trader uses very less bandwidth mainly due to it updates only incremental data in the database on our hard disk for every open charts (with time frames) on our workspace.

Unless we open a new script or new time frame there is no need to download fresh data again and again.

When we first install Meta Trader, the data base size on our hard disk is very small, but after using 6-10 months it gradually increases to 300-500 Mb. Bcoz it saved all required data on hard disk once downloaded, after that only incremental updating happens.

Due to very efficient database organization and only incremental update, MT consumes very less bandwidth.

Anyone can see the secrets of Meta Trader:- :clapping:

All opened charts in work space is already saved in Database on our Hard Disk (See Below). Thre is only incremental download.

View attachment 20049

View attachment 20050

View attachment 20051

Pi must use similar database design method. It'll also enhances its efficiency even on moderate bandwidth connection like Tata Photon/Photon Plus etc on our laptop.

If Pi uses Internet Data like 10GB+ per month, it can cost us more than most of charting data provider.
So Zerodha must design Pi for 'Incremental Data Update' only.


Best Wishes & Happy Trading.
H.C.

This is exactly what I mentioned by re-looking at the design. It may not be possible or easy to change the core design later.

I had pointed out errors that occur when consensus report is run. Zerodha assured me that it will be taken care of in this release. It was not. The error still occurs and the program shuts down. I have to log in two times, first time, I will be shown the boot, because I was already logged in and was not properly logged out. The second time takes the usual anything around 20 minutes or even above, if lucky. Buy that time one will get frustrated and leave without having any idea about the scrip he is tracking.

The same happens if you unfortunately do something a few times, like trying to change the indicators or apply template etc etc.

I am not saying that Zerodha should not develop software on their own and provide plugins to ami etc etc. If ami can develop good software, zerodha or anybody else too can. So Zerodha is fully justified there. Similarly there could copyright issues etc with the exchanges for the data they provide. Exchanges charge huge amt for the data and we must thank Zerodha and those brokers for giving it free along with their software. But then that works in reverse too. Traders might prefer those brokers who provide the maximum facilities at cheap rates.

 

[Zerodha]

Does the NSE/MCX exchanges force you not to provide data to other charting platforms. Is there any law against it.

If there is such a condition put on by exchanges , then you cannot provide data feed to Pi as well.

How will data vending companies go out of business if you give provide data plugin to amibroker for your customers?

and how many indian data vendors are there may be 2 or 3 companies. So data vending is not even full-fledged industry.

US and other countries do this all the time. e.g. many brokers in the US provide data feed to esignal/tradestation/Metastock..etc , which have their own data feed service along with charting.

So who says that you cannot provide data feed to charting platforms like ninjatrader/amibroker/esignal...etc?

I think if there is a broker consortium in india , you should petition for doing this, as it is in the best interest of the customers.

Someone somewhere is greasing the wheels in NSE/MCX, as a result we are paying for data fees..:annoyed:

As a brokerage we are allowed to give data only on a trading platform which is approved by the exchange. There are a bunch of circulars on that.

Every exchange in the world charges for data, some of them even charge for data on the trading platform. Atleast it is free for the trading platform in INdia.

Buying and selling unauthorized data is piracy. NSE sent out notices recently to a bunch of websites selling unauthorized data.

And throwaway you are wrong about the US thing you have mentioned. Esignal/tradestation charge is between $ 200 to $ 300 per month for datafeed. What you see on metatrader is like I mentioned earlier not even real data, they are basically like videogames and hence very popular for currency trading where orders are not sent to a central exchange and data you see is basically for CFD's contracts that mirror an underlying contract that trades on an exchange. US is probably among the most expensive places to buy data.