Zerodha - Number One Discount Broker in India

VJAY

Well-Known Member
Dear zerodha,
When can we expect sl limit for entry order in BO order?as IMO many successfull traders only put sl limit for entry.....:) ...or you are avoiding them to use BO order :D(just kidding)
 
Omnesys provides the feature, for which they charge us extra.


Why is entry split?

Assume you have placed an order to buy 10 lots of Nifty, 5 lots get traded and there is 5 pending. Now, do you want the target/Sl to be placed immediately after 5 got placed or do you want to wait till the entire 10 lots gets traded.

You will realize that it will need to placed as soon as the first 5 is bought. So if we place it on the exchange, an order number is generated. When the remaining 5 lots get executed, we have to place another set of target and square off, now this has to be placed as a separate order again.

This is how brackets and TSL work across the world
Fair enough. But why the extra charges , since we consider a BO as a single order, if you need to split that is internal to your system.

If i do the same thing without BO , there is no extra charge. We are doing the same thing here except for BO we just give additional instruction in the order sheet. THAT IS THE ONLY DIFFERENCE from a traders perspective.

About TSL , i agree they have to be modified , but then there are hundreds of FOREX brokers who do the same and they have no issues handling them and they don't charge extra for it , SO WHY DO YOU? Is it something mandated by the NSE Exchange.

The workings between NSE and brokers is not transparent enough and hence you can give pretty much any reason and expect us to believe it and you just have another reason to increase your brokerage.

I have no problem increasing your brokerages / order, but at least give some value/benefit.

You can give any explanations/reason for BO being that way they are currently , that doesn't benefit us as trader. It only benefits YOU.

So i m not satisfied with the half-assed implementation of this feature and being charged for it. :mad:
 

Zerodha

Well-Known Member
Fair enough. But why the extra charges , since we consider a BO as a single order, if you need to split that is internal to your system.

If i do the same thing without BO , there is no extra charge. We are doing the same thing here except for BO we just give additional instruction in the order sheet. THAT IS THE ONLY DIFFERENCE from a traders perspective.

About TSL , i agree they have to be modified , but then there are hundreds of FOREX brokers who do the same and they have no issues handling them and they don't charge extra for it , SO WHY DO YOU? Is it something mandated by the NSE Exchange.

The workings between NSE and brokers is not transparent enough and hence you can give pretty much any reason and expect us to believe it and you just have another reason to increase your brokerage.

I have no problem increasing your brokerages / order, but at least give some value/benefit.

You can give any explanations/reason for BO being that way they are currently , that doesn't benefit us as trader. It only benefits YOU.

So i m not satisfied with the half-assed implementation of this feature and being charged for it. :mad:
:) , if this explanation doesn't help, I don't know what will.

The forex brokers that you are talking about are mostly dark pools/ CFD's, basically orders are never sent to any underlying exchange. Most of those platforms are like video games, where if you loose the forex broker makes, and is regulated by nobody. There are no exchange servers to send/receive messages/quotes/orders/trades, basically they run the entire business probably of 1 server and they can do anything they want. So don't know if they can be called transparent..

Anyways, this point is discussed in length here: https://zerodha.com/margin-calculator/BracketCover/
 
:) , if this explanation doesn't help, I don't know what will.

The forex brokers that you are talking about are mostly dark pools/ CFD's, basically orders are never sent to any underlying exchange. Most of those platforms are like video games, where if you loose the forex broker makes, and is regulated by nobody. There are no exchange servers to send/receive messages/quotes/orders/trades, basically they run the entire business probably of 1 server and they can do anything they want. So don't know if they can be called transparent..

Anyways, this point is discussed in length here: https://zerodha.com/margin-calculator/BracketCover/
Second attempt at diverting from the main issue. I never said anything about transparency of FOREX brokers. Where did you bring that in.

Again , to reiterate why charge additional for BO?

you have to understand zerodha, now traders will simply not use BO because


- BO does not guarantee order fill, so i have to monitor my orders during trading hours.
- I cannot place limit/stop orders with BO , which is what is really required.
- Additional brokerage for no benefit of using BO.


So a normal order with SL and target will do.

Name ONE substantial benefit of using BO over a normal order?

P.S - Please do not try to divert from the issue this time. :)
 

Zerodha

Well-Known Member
Second attempt at diverting from the main issue. I never said anything about transparency of FOREX brokers. Where did you bring that in.

Again , to reiterate why charge additional for BO?

you have to understand zerodha, now traders will simply not use BO because


- BO does not guarantee order fill, so i have to monitor my orders during trading hours.
- I cannot place limit/stop orders with BO , which is what is really required.
- Additional brokerage for no benefit of using BO.


So a normal order with SL and target will do.

Name ONE substantial benefit of using BO over a normal order?

P.S - Please do not try to divert from the issue this time. :)
U said we are not transparent and u said forex brokers offer this with no additional costs.. :)

Anyways, if you think it is not beneficial, and if normal order with SL works for you, you don't really have to use this..

Why is the charge extra if order is split into parts, I have already explained it.

Cheers,
 
Anyways, if you think it is not beneficial, and if normal order with SL works for you, you don't really have to use this..



Cheers,
So you admit that BO offer no advantage then. Glad i didn't switch over to new version. This is all i wanted to know.

The charges are not justifiable. Makes no sense to pay additional brokerage to you for just an automated order cancellation from your side, which i can do manually with a click of a button. :)
 

VJAY

Well-Known Member
So you admit that BO offer no advantage then. Glad i didn't switch over to new version. This is all i wanted to know.

The charges are not justifiable. Makes no sense to pay additional brokerage to you for just an automated order cancellation from your side, which i can do manually with a click of a button. :)
switch to new version not make any issue ...its only when we put order in BO :)...version change always help as its remove bugs from earlier versions....my view
 

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