Zerodha - Number One Discount Broker in India

I had found both TSO (used to be VNS then) and RKSV to be good brokers, very professional. Never a problem with withdrawals or anything.

Stuck with Zerodha because of the leverages.
I used TSO few years ago. I quit using them because of two reasons:

1. At that time they had horrible backoffice (box wasn't available then), even viewing the ledger was painful experience.

2. I don't like their withdrawal policy. It takes a hell lot of time for the withdrawal request to get processed. I remember sometimes it took 2-3 working days for them to process the withdrawal. Few times my withdrawal request got deleted so had to place a new request again.

I have used more than 10 brokers till date and several of them are discount brokers. Zerodha, RKSV (Upstox), TSO, VPS shares (now defunct), achiievers etc... What I can say regarding payout is that RKSV has the best and fastest withdrawal policy among discount brokers. It is very smooth and they process withdrawal 2 times a day, one before market opening and another around 8pm.

I am currently in talks with fyers for account opening and going to give it a try. Got a demo account of their platform and by the first look I can say that I am quite impressed.

One thing I wish to add:
In today's day and age it is important to have 'ease of doing business'. What I mean is flexibility of the brokers to adopt to the needs of the clients. For example RKSV allows us to change primary bank account by just printing and filling up the bank change form and then taking a picture of the form and cancelled cheque and mailing them without the need to physically send the form to their office. This is what I like about RKSV. I am yet to see such flexibility from other brokers.

I like RKSV but the only reason I am currently not trading with them is the lack of tax compliant backoffice. Last week I thought of moving back to TSO, so called them up and asked them that I want to change the primary bank. They asked me to send a cancelled cheque and 6 months bank statement. Yes that right, they need 6 months bank statement too!!! No other broker asks for 6 months bank statement for changing the primary bank, only cancelled cheque is sufficient for other brokers. This might sound like a small thing or one-time thing, but it just left a bad taste.
 

wabuf

Well-Known Member
NEST OEM failure .. again ... in profit cannot exit ..

" exit will cancel , limit order .. what bull Sh!it "':mad::mad::mad::mad:


EDIT : NOW UP..after 15 Mins.. working
 
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vijkris

Learner and Follower
I always experienced fear of pulling the trigger as I was never confidant of my strategy/plan. It took so much of hard work to overcome that.

now I am having fear of pulling the trigger bcos of the unreliable service of Z.:annoyed:
Somewhere in the corner of heart there is fear, what if order freezes and I am unable to put sl. :(:(
 

vijkris

Learner and Follower
Please use some other broker vijikris ji. Down network is one issue. Price disparity is unforgivable. Can cause tremendous loss for no mistake of ours. Have taken a 5 minute video and multiple photos of it. Will upload if someone doubts it.
yes ap and jd bhai, I was having bma as backup , but I didn use it since 1 yr, they blocked the a/c, though their nest terminal is working. now trying the rtd from that terminal. Its 3.13.0., so facing some issues in rtd 1.5
 
Please use some other broker vijikris ji. Down network is one issue. Price disparity is unforgivable. Can cause tremendous loss for no mistake of ours. Have taken a 5 minute video and multiple photos of it. Will upload if someone doubts it.
Don't wait, please upload it. Whatever the issues, better to complain about it upfront. I myself have often reported the problems with multiple screenshots. Video is a much better way.

The forum is for the benefit of the members, and I am sure that, criticism apart, your experience will add to the others' experience. Thanks in advance.
 

wabuf

Well-Known Member
Zerodha has stooped to a new low today. Two accounts with them both have different prices for future and spot. And for options. Both the accounts having mismatched prices that are 30-40 points difference in bank nifty. God help traders that are using this junk of a program called pi.
Really OMG ..:eek:
 

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