Zerodha Part 2

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onlinegtrash

Well-Known Member
hello i am new in commodity market and i had lost rs: 60000 . now i have 40,000 in account. any one know how to compansate the loss... plzz reply////////

or mail me : [email protected]
one way to avoid further loss is: stop trying to compensate previous losses and halt all your trading activities!
but that's not what you wanted to hear...so I know you are going to blow up your account anyways...
go back and do your homework first!
 

GTji

Active Member

Zerodha

Well-Known Member
Sachin,

I appreciate you for coming on tj and taking all the heat every single day even though you have an option to not show up. I am one of your very satisfied customers inspite of few minor issues but i would definitely hope that you would resolve all these issues sooner.

You should come up with a poll and take inputs from your members directly so that you can understand what they are expecting from you in a better way and what things matter the most to them.

thanks,
srinivas
Scaling up issues, but we are trying our best.. Doing business at 20 bucks is not very easy.. ;) .. What has to be done to make Zerodha the best place in India to trade, this is the vision shared with everyone at Zerodha. The list probably includes what you wish for, we might take some time to get there.. we are putting up an interesting and simple section called Zerodha Connect on our website.. A Simple blog kind of place, where we have some positive discussions running, including taking your feedback..
 

Zerodha

Well-Known Member
I think this is the height of cust service, where as answering cust queries in forums is a great initiative from zerodha, the problem is some anonymous people with ulterior motives, they could be non-clients ,competitors posing as clients, taking oppurtunity to make complaints, create controversies, try to defame etc.

Where as clarifying queries here is convienient to some clients, least zerodha can do is confirm the identity of the client.
What can I say, a client/prospect is a king, so he must be right always.. ;)..

But I guess the +'s of being an open forum is much more than the -'s ..
 

Zerodha

Well-Known Member
Today I came across this article on the net. http://www.moneylife.in/article/wip...umer-court-but-got-shafted-by-sebi/28666.html

It is kind of unsettling. How can our stocks be safe with any broker if they can be easily sold off without our knowledge, and why do we need a broker in this age of electronic online trading? Zerodha being a broker can you comment on the safety of our stocks in demats?
Not everyone appreciates what we do and not saying that we are the perfect. We have our -'s, but what we have started hopefully is tomorrow's order of broking business.

No one of the 60 people at Zerodha has a brokerage target,

If you were to look at a very similar setup with another broker, 90% of the company has a brokerage target. 3 times, 4 times , 5 times of the salary to be generated as brokerage otherwise lose the job.

Every person has atleast 3 people above him putting pressure if he is not meeting the targets. .

This itself is a recipe for disaster.. Human's are inherently very selfish, they want to first take care of themselves before worrying about what the other person has to go through. What also encourages this behavior in the broking business is that the people around you are already doing the same.

I have always told, you guys on this forum are probably just 0.5% of the trading community, the part of community which is educated and upto date with what is happening around. There are people out there who are being taken for a ride by sub-brokers, relationship managers and so on and forth, claiming that they can make money and so on.. I have seen cases where people still pay 0.1% as futures brokerage and pay Rs 200 per lot on options. Are they foolish, maybe not, but they are ignorant.. Stocks never hit demat account, it always sits in the pool( a very popular broker who has heroine advertising, is known for this ) and so many such things..

I don't know if it is Zerodha or someone else, but it is required that broking business in India has to be changed. I wish that we are in the forefront of this change, but you never know. Broking today has to be run more like a BPO rather than broking.

Back to the question, can a broker sell the stocks and do unauthorized trades? Yes, if the intent is to do it, he can.

What can you do as individuals? Be careful and not associate with anyone who has such records. Consistently monitor your stock holdings and cash positions.

And hopefully tomorrow a lot more brokerages will follow our model of giving the onus of decision making completely on the clients.

Hoping the day happens sooner than later..

Good night..

Good night guys,
 
An issue we hadn't expected while migration..

We use atom payment gateway and it works perfectly fine on our BO. The equity gateway on ZT was supposed to work with the same merchant ID as the BO.

But our ATOM boys in a bid to make a little more wanted us to get a new ID as they would probably make some money on it. Once the Purchase order was sent , they took forever to process it.. Everything is set and the equity payment gateway should be live by tomorrow..

@preethi, if fund transfer took 2 days, it was probably because of a weekend, if not, please ping me your client id. The withdrawals never take more than 1 day after being placed. Sorry if any inconvenience caused..
It is irrelevant to the concern I posted. If you are migrating, then you can simply either disable the service or display a warning message. You could have asked your web development team to do it in 15 minutes. But what you have done was removing the drop down options to redirect the payment straightly to MCX segment. The worst part is that you keep the service alive even after several complaints and reversal requests. Now you are blaming ATOM guys for the problem. Please be advised that its not a monkeys play.

To make it more clear, I have not requested for fund withdraw. My pay-in request via online trading portal was successfully executed; but the credit has not been given to my equity/derivative segment. It took 2 business days to get my money back.

I read that your new system would be ready by tomorrow morning and I believe there will be no such pathetic issues anymore.

ya pls check her client id and check whether there was a prob with fund trf, as i doubt that not only any such ID exists , but also the existance of preeti itself is doubtful.He looks more from your compititor broker firm than u r client.
If what is mentioned here is true then pls post it here, i will apologise to preeti.
It is not necessary to be a competitor to point out the existing problems. I am a Zerodha user and so only I am able to find out the problems.

B/w @The Monk, Are you a zerodha employee?
 

comm4300

Well-Known Member
Amid all the sympathizers for Zerodha, let me stick my neck out and agree with preethi's POV.

@ zerodha: what prevented you from posting/sending sms asking users NOT to use the payment gateway on Ztrader?
OR
updating here at the forum [which you are not required to, but a preemptive measure]

Guys: loosing money at trading is fine. But NOT knowing where your money has gone is emotionally devastating!
Even more irritating is the silent treatment from your trusted broker on the issue. This issue spanned at least a week before Zerodha responded/realized/cooked up Atom's role.

and the way Zerodha handled this issue - blaming the Atom guys and their "plan" to over charge poor Zerodha is not an acceptable story. oh..poor Zerodha...!

@ Zerodha: when you have such aggressive RMs who want the 1st deposit to be minimum 5k in client's a/c...why can't you show some [some] of the aggression with your vendors [omnesys, atom ] so that the clients are not disturbed?

And lastly: anyone who wants to know if iam really a zerodha customer or an ID created by some rival firm, kindly ping me and i'll share my client id with you guys...or Sachin may confirm my identity, if he so desires.
 
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sudris

Well-Known Member
Today I came across this article on the net. http://www.moneylife.in/article/wip...umer-court-but-got-shafted-by-sebi/28666.html

It is kind of unsettling. How can our stocks be safe with any broker if they can be easily sold off without our knowledge, and why do we need a broker in this age of electronic online trading? Zerodha being a broker can you comment on the safety of our stocks in demats?
An interesting find.

I wonder how many traders here verify their trades on a daily basis. Of course the broker sends an SMS to summarise the respective day's trade(s) if there is any along with the ECNs. Additionally, both NSE and BSE do offer a trade verification service on daily basis as well. Not sure about MCX though. So one can cross check the trades/transactions from the Exchange's book as well.

for instance, NSE dispatches the total turnover for the day via sms and other details via mail.

Trade Verification : NSE

Trade Verification : BSE

this way one can find any suspicious activity from the broker's end on the same day itself

Have no idea if this system could be loopholed as well. would like to know Zerodha's take on it.
 
And few more suggestions to Zerodha...

1) Account Access Section
Except the home page, all pages contain link to http://nowonline.in/now_home.html with the anchor text "Trading Login". Please make it common to all pages to avoid confusion.

2) Update the payment options page to current - http://www.zerodha.com/funds-transfer

3) Remove/Cleanup the download links from here -https://www.zerodha.com/download/index.html. Don't confuse the starters with lot of trading tools (like NOW, ZT). Point out a single application what they really need.

4) Develop a advanced mobile trading platform and application. At present, I have to execute all trades only from my windows application. NOW mobile app asks me Member Id which you never provided.

5) Develop a advanced web based trading platform. Current one is really useless in terms of design and usability. Probably you might have implemented the current platform in early 2005.

6) Usually I hesitate to do bank transactions with IE as it is more prone to security attacks. But your back office is working only in IE. Make sure that your platform is compatible with all browsers. Its really important.

I am not from a rival group to destroy your business. I am just asking to give the user a pleasant experience who trusted you and don't get them into trouble. These are the things annoying me most apart from payment problem I posted. Please consider these things in your future development plans.

Good nite. Bye.
 
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