Zerodha Part 2

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Trading account opening form is pretty much standard across the brokers..

Can you tell me which exact document you are referring to, page number will help... I can let you know why it is required..

Account opening forms are not standard. A brokerage might add its own devil(s) to the SEBI guided version.
Starting with the conditions in a PoA to an explicit lien (as proposed on Page 28 of the Zerodha form TDForm V2 (latest version))

MUST READ FOR ALL INVESTORS

http://www.moneylife.in/article/bro...i-instructions-on-power-of-attorney/5465.html

http://www.moneylife.in/article/wip...umer-court-but-got-shafted-by-sebi/28666.html

http://foundation.moneylife.in/article/faqs-for-common-investors-by-sebi/12553.html

Even the terms in the PoA (page 12 of the ILFS-Zerodha DP agreement) are draconian. Why does Zerodha need the right to "pledge" shares?
 

megapixel

Well-Known Member
Zerodha

If I have two trading a/c from different brokers.....

Is it possible to transfer F&O open position from one trading a/c ( BROKER X ) to another trading a/c (BROKER Y) ?
 
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Hi Zerodha,

Today I made a short sell of few stocks using MIS order.. I expected the positions to get auto squared off at 3.20 pm but it did not happen..Can I please know the reason. When and for what price will the stocks be bought in an auction..

Can you please throw more light on the auction process. Does is happen during the market hours? The stock will be bought at market price? what is the penalty?how much margin will be blocked till the short sold stock are bought in the auction.
 
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Hi Zerodha,

Today I made a short sell of few stocks using MIS order.. I expected the positions to get auto squared off at 3.20 pm but it did not happen..Can I please know the reason. When and for what price will the stocks be bought in an auction..

Can you please throw more light on the auction process. Does is happen during the market hours? The stock will be bought at market price? what is the penalty?how much margin will be blocked till the short sold stock are bought in the auction.
Sorry to say but you are pretty much screwed if quantity was large
But I think zerodha will bear the loss as it's ther fault do update
Us
 

megapixel

Well-Known Member
Yes it's possible close the position with one broker and simultaneously
Open at other Broker JUST Kidding. But this is the only way
I asked this query to know safety of our F&O positions....

assume Broker A declares bankruptcy .... Is there any way I can transfer F&O open positions to Broker B and square it off there ?

DanPickup has posted these are highly possible in USA. Is it also possible in our land ?
 
I asked this query to know safety of our F&O positions....

assume Broker A declares bankruptcy .... Is there any way I can transfer F&O open positions to Broker B and square it off there ?

DanPickup has posted these are highly possible in USA. Is it also possible in our land ?
I am replying from my phone so can't a full essay but if u are
Worried about whAt can happen in India a broker doesn't even
Need to suffer a minor loss in some situation but still can make
U loose hevily u might or might not get the money back from
Court of law all i can say is when broker like HSBC religare who
Are my brokers cannot be trusted forget about online brokers

Only thing is risk 25 percent of your capital with these guys when
I wanted to open an account with these guys I clearly said will
Not risk a percentage more of my capital with RKSV OR ZERODHA

Though both of these guys are honest as of now and looks
Like will not run away with money I am assured of that

The problem are is they give huge leverage like one lot of nifty
With 7 k intraday now who can guarantee that there may not
Be any news in the world which. Can take nifty down 300 or 400
Points and they will be just lookin because this sort off fall can
Come in matter of seconds before even they can see which client
Is loosing how much

This loss can be much more then there company's net worth
And more then every one who works there where as religare and
HSBC can pay the money but these guys can't so who pays I
Guess u are intelligent enough

I am in markets from last decade make my living from it believe Me
Only god know when are lower circuits coming no one else u
Can't even react to it even algos fail the fastest computer fail

Only thing is that can they pay up I don't know I guess emkay
Has paid up 51cr for the errors can these guy pay

It's good it's cheap who knows the party may last for ever
In some time big guys will also come in discount broking till
Then save where ever u guys can but b cauitous
 
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Account opening forms are not standard. A brokerage might add its own devil(s) to the SEBI guided version.
Starting with the conditions in a PoA to an explicit lien (as proposed on Page 28 of the Zerodha form TDForm V2 (latest version))

MUST READ FOR ALL INVESTORS

http://www.moneylife.in/article/bro...i-instructions-on-power-of-attorney/5465.html

http://www.moneylife.in/article/wip...umer-court-but-got-shafted-by-sebi/28666.html

http://foundation.moneylife.in/article/faqs-for-common-investors-by-sebi/12553.html

Even the terms in the PoA (page 12 of the ILFS-Zerodha DP agreement) are draconian. Why does Zerodha need the right to "pledge" shares?
When I joined Zerodha, I expressed my concerns about these and some other t&c, on telephone with Zerodha representative. But that representative didn't care about me (of course like any other Indian sales rep). Representative didn't know whether those documents are compulsory or not. He/She told me to just sign all the papers and send otherwise my account will not be opened. Also said- no need to fill the form. When I said that I will fill the form for myself, he/she tried to persuade me not to.

Good customer service is a nice thing. What is even nicer is to protect and educate your clients.

SEBI has made it clear that brokers cannot refuse services to clients who do not sign PoAs in their favour.
Your views Sachin? Also tell the members here how they can revoke PoA for those who would like to.

Thanks
 
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