Zerodha - Number One Discount Broker in India
- Thread starter Traderji
- Start date
Zerodha equity trading terminal was down for more than half an hour and forget about making any compensation, they do not have the basic courtesy to send an apology note to customers. Zerodha has become so rude and arrogant and this is clearly reflected the way their customer care executives speaks and replies to mails they send.
This is the right time to change this untrustworthy discount broker.
This is the right time to change this untrustworthy discount broker.
Unfortunately, this has been all too common with them. I almost always have to remind them several times to send me the brokerage-refund. And, you're right, it's not just about the money, it's about being true to your words & being responsive to your customers.
Which discount-broker would you say is most reliable in your opinion?
I think Zerodha is probably the best amongst the discount-brokers in terms of security since they're the largest discount-broker, very profitable, & hence, unlikely to go down very easily BUT I don't think they're the best when it comes to platform-stability, problem-resolution, etc. Of course, every person will have different priorities, & therefore, have a different opinion on who the best broker is for THEM.
Right, holding their feet to the fire might be necessary to make them try harder to resolve some of the issues their customers have been facing very regularly.
Which discount-broker would you say is most reliable in your opinion?
I think Zerodha is probably the best amongst the discount-brokers in terms of security since they're the largest discount-broker, very profitable, & hence, unlikely to go down very easily BUT I don't think they're the best when it comes to platform-stability, problem-resolution, etc. Of course, every person will have different priorities, & therefore, have a different opinion on who the best broker is for THEM.
Some times leg pulling also required to make them more efficient 
Last edited by a moderator:
Being biggest by what standards? Number of clients? That doesn't make a broker safer than others.
Well upstox is backed by Kalari capital and Ratan Tata. Should that not make it safer? As some big names are backing them and have put good amount of money in the core business.
Infact there are many brokers not so well known, but are there for many decades now, but still doesn't have many clients. But service wise cannot be compared by any means with zerodha.
RK Global which actually started the discount broking business in India, has been pretty good when it comes to service. Initial hiccups were there, but it's wonderful now when it comes to customer service.
Technology wise nothing much to boast, standard back office, ODIN or NOW trading platform. But works all the time, not most of the time.
Sent from my Redmi Note 4 using Tapatalk
Well upstox is backed by Kalari capital and Ratan Tata. Should that not make it safer? As some big names are backing them and have put good amount of money in the core business.
Infact there are many brokers not so well known, but are there for many decades now, but still doesn't have many clients. But service wise cannot be compared by any means with zerodha.
RK Global which actually started the discount broking business in India, has been pretty good when it comes to service. Initial hiccups were there, but it's wonderful now when it comes to customer service.
Technology wise nothing much to boast, standard back office, ODIN or NOW trading platform. But works all the time, not most of the time.
Sent from my Redmi Note 4 using Tapatalk
Well, that's precisely why I said "PROBABLY the biggest" because different people might define it differently. Of course, things like number of clients, financial backing, etc. matter but I don't think it's unreasonable to say that profitability is one of the most important factors indicating the potential longevity of a business, & in that regard, I think Zerodha has been doing really well since inception (which COULD change in the future but of course, future is inherently uncertain but so far as probabilities go, FOR NOW, they might be on Zerodha's side).
Right, I was thinking about RKGlobal too but for some reason, they don't always get a mention in the list of discount-brokers. I've thought about opening an account with them in the past but I was never sure about what their service would be like, I guess I've been more comfortable with opening an account with brokers on Traderji because it seems like a place where traders, as a community, can try to hold brokers accountable, & where we might have a greater chance of being heard but perhaps, I need to broaden my horizons (which I sort of have tried to do recently, by initiating account-opening procedure with Interactive Brokers).
Right, I was thinking about RKGlobal too but for some reason, they don't always get a mention in the list of discount-brokers. I've thought about opening an account with them in the past but I was never sure about what their service would be like, I guess I've been more comfortable with opening an account with brokers on Traderji because it seems like a place where traders, as a community, can try to hold brokers accountable, & where we might have a greater chance of being heard but perhaps, I need to broaden my horizons (which I sort of have tried to do recently, by initiating account-opening procedure with Interactive Brokers).
Last edited:
RK Global was pretty good, but there seems to be some charges for the interface. In case you trade a certain quantity or brokerage amount monthly (e.g. brokerage crosses Rs 500 per month) then you can get that amount back.
They offer ODIN as well as a web interface and hardly faced any issues with their infrastructure.
I switched to Zerodha because they were offering Algo/auto trading, etc which I soon realised what a trick for me to just open the account. The so called RM probably gets a "lead fee" of Rs 100 for every account opened (Account opening was Rs 300). Soon after opening the account, the RM did not call me back for demo nor did he respond to my calls.
At one time his colleague took my call and flatly told me that algo trading cannot be done. You need to signup for additional .. blah.. blah.. etc by paying Rs 299+ taxes Plus development fees etc etc.. and just tried to make things more complicated hoping that I will stop calling them up.
Such are the part time college student staff kept by Zerodha. No responsibility, no truth in their words, just saying something to get an account opened, and some commission in their pocket.
They dont care if you lose Rs 1 Lac while they get Rs 10 out of it.
RK Global (Rs 9 per lot/ Rs 9 per trade), Upstox (api for Rs 1250 instead of Rs 2000), TradeSmartOnline (low cost discount broker), Finvasia (zero brokerage all segments) , etc are competitors to Zerodda (many clients, but on a volatile day, if all try to login, the server crashes).
They offer ODIN as well as a web interface and hardly faced any issues with their infrastructure.
I switched to Zerodha because they were offering Algo/auto trading, etc which I soon realised what a trick for me to just open the account. The so called RM probably gets a "lead fee" of Rs 100 for every account opened (Account opening was Rs 300). Soon after opening the account, the RM did not call me back for demo nor did he respond to my calls.
At one time his colleague took my call and flatly told me that algo trading cannot be done. You need to signup for additional .. blah.. blah.. etc by paying Rs 299+ taxes Plus development fees etc etc.. and just tried to make things more complicated hoping that I will stop calling them up.
Such are the part time college student staff kept by Zerodha. No responsibility, no truth in their words, just saying something to get an account opened, and some commission in their pocket.
They dont care if you lose Rs 1 Lac while they get Rs 10 out of it.
RK Global (Rs 9 per lot/ Rs 9 per trade), Upstox (api for Rs 1250 instead of Rs 2000), TradeSmartOnline (low cost discount broker), Finvasia (zero brokerage all segments) , etc are competitors to Zerodda (many clients, but on a volatile day, if all try to login, the server crashes).
Last edited:
Thanks for bringing out your experience, all traders should be informed about such things. It's really unfortunate what has happened to you, & I hope @Zerodha is watching.
I'll look into RKG, Upstox frequently seems to be having issues along with Zerodha & both of them are too focused on OTHER STUFF & not enough attention to the basic needs of traders like a stable platform & fast customer-care, Finvasia's staff seem helpful but mostly clueless so I'm not sure about them, & while I haven't traded a lot with TSO it has been a decent experience with them so far & their support seems fairly responsive on Traderji as well as on live-chat.
I'll look into RKG, Upstox frequently seems to be having issues along with Zerodha & both of them are too focused on OTHER STUFF & not enough attention to the basic needs of traders like a stable platform & fast customer-care, Finvasia's staff seem helpful but mostly clueless so I'm not sure about them, & while I haven't traded a lot with TSO it has been a decent experience with them so far & their support seems fairly responsive on Traderji as well as on live-chat.
as you quoted my message and to avoid further fight with other Zerodha users here(who had bad experiences) haha,let me clear-
I said Zerodha is the Best for me.Because-
I used NOW all the time since I became their client.When ZT users and later Pi/Kite users were shouting over many things like technical glitches,server issues etc,NOW had no such prob as it was directly from NSE.So I never feel the heat when others were registering their complaints here.I was just wondering why not they just stick with NOW and get a paid data from outside instead of becoming a part of Pi/Kite test..then loosing and then shouting on a broker?Let the platform little stable.
I just migrated to ZT(NOW to Nest migration process as NSE started charging something??)
If I face any issues using ZT/Kite etc,I'd simply switch back to NOW
Zerodha is the best as compared to my 4-5 brokers so far.
I said Zerodha is the Best for me.Because-
I used NOW all the time since I became their client.When ZT users and later Pi/Kite users were shouting over many things like technical glitches,server issues etc,NOW had no such prob as it was directly from NSE.So I never feel the heat when others were registering their complaints here.I was just wondering why not they just stick with NOW and get a paid data from outside instead of becoming a part of Pi/Kite test..then loosing and then shouting on a broker?Let the platform little stable.
I just migrated to ZT(NOW to Nest migration process as NSE started charging something??)
If I face any issues using ZT/Kite etc,I'd simply switch back to NOW
Zerodha is the best as compared to my 4-5 brokers so far.
