Zerodha - Number One Discount Broker in India

No technical glitches are not really compensated by brokers (including us). Even the account opening document that you sign with whichever broker covers this, this is actually a mandatory document that exchanges/SEBI asks for from every person trading online.
What about losses occurring due to human errors like wrong orders placed by dealers? If human errors can be refunded why not technical? I am paranoid about this.
 

manojborle

Well-Known Member
Dear Zerodha

I am marine Engineer and can trade only when I am on leave(Unavailibility of internet on Ship).
As you said you are considering 300-400 per month brokerage to define active trader, my brokerage is far more than that even if I trade only in Leave period (4-5 months in a year).

What will be your criterion in my case ?
 

Zerodha

Well-Known Member
What about losses occurring due to human errors like wrong orders placed by dealers? If human errors can be refunded why not technical? I am paranoid about this.
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.
 

Zerodha

Well-Known Member
Dear Zerodha

I am marine Engineer and can trade only when I am on leave(Unavailibility of internet on Ship).
As you said you are considering 300-400 per month brokerage to define active trader, my brokerage is far more than that even if I trade only in Leave period (4-5 months in a year).

What will be your criterion in my case ?
Manoj, we will come back on this, and even if we charge for inactive clients it won't be more than 300 to 500 rupees a month...
 
Guys 50000 candles at one time is what we are aiming at. So if it is 1 min (around 360 candles per day and hence around 100 days). If it is 5mins around 80 candles per day, so around 600 days.. and so on..
will there be a "data table" like feature in pi(like there is in nest trader). am asking this coz i usually import data from nest trader's data table into amibroker.
this way i manage to get as many days of 1 min ieod data as i want instead of just 100 days. 100 days is very good but it wud be nice to be able to have more
 
:thumb:Thanks for the reply Zerodha. Appreciate it.

I am curious to know what is so great about the ice bucket challenge? It is so wannabe.. "oh let's put this on facebook and become cool" types. There are so many incurable diseases in the world. Have you guys ever thought about AIDS, Cancer, Ebola virus etc.?

What's your take on this Zerodha? I don't mean to offend you, but just thought i'd be "against the trend." All criticisms are welcome in advance
https://www.youtube.com/watch?v=b8m_5-gZaIE
 
If a client is inactive for a month/quarter and has not used Pi, i think he should not be charged
Maybe make a rule that if a trader logs in more than 50% sessions in a calendar month then he is an active trader (chargeable), else not chargeable. Or make it quarterly.
 
Manoj, we will come back on this, and even if we charge for inactive clients it won't be more than 300 to 500 rupees a month...
Charging 300 or 500 for inactive clients is as good as forcing them to trade. But all this while you guys were preaching that fixed charges are not a good thing for a trader. You were always a critic of brokerages who have prepaid plans.
Now, you want to do the same thing but in a different way. What is so different after all?

Moreover, in your previous post, you have mentioned that brokers are not to be held liable for any glitches and errors & that all risks need to be borne by traders. So, what is the proof that your new platform "Pi" will not cause such unforseen losses? Because it is clearly not a proven product yet. So if traders face a loss because of "Pi", then you will raise your hands and say, It's your problem, you chose the platform??? :clapping:
 

Zerodha

Well-Known Member
will there be a "data table" like feature in pi(like there is in nest trader). am asking this coz i usually import data from nest trader's data table into amibroker.
this way i manage to get as many days of 1 min ieod data as i want instead of just 100 days. 100 days is very good but it wud be nice to be able to have more
We have export to excel directly from the chart.. so yeah, I guess that should be covered..
 

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