Zerodha....

[TradeRaid]

Re: new cheapest broker is here. Zerodha

I am trading with RKGLOBAL since six months. I have three accounts. All diet odins. Upto this day i have not faced any problem with the trading platform. I am a full time professional trader. I am using online terminals since 2000 march. But RKGLOBAL is the best. I trade minimum 10 lots per day in each account.

I think the technology is so good these days that we shouldn't really have any issues with the software. However, trading is not just about software. It's also about the costs... I would personally trade where it would cost the lowest to make a profit. Wouldn't you?

 

[TradeRaid]

Re: new cheapest broker is here. Zerodha

What about Order modification? many times I modify my limit order's price in a day. will it be also charged like a new Order?

That's an interesting question. Logically, I think they shouldn't charge for order modification. I'll start using my Zerodha account from Monday, so I should have answers by then.

 

[alroyraj]

Re: new cheapest broker is here. Zerodha

I am trading with RKGLOBAL since six months. I have three accounts. All diet odins. Upto this day i have not faced any problem with the trading platform. I am a full time professional trader. I am using online terminals since 2000 march. But RKGLOBAL is the best. I trade minimum 10 lots per day in each account.

Neat way of preventing any breakdown/issues in any one account. Which 3 do you use?
Still inspite of being satisfied with RK you have 2 backups,so....

 

[alroyraj]

Re: new cheapest broker is here. Zerodha

I have confirmed with them... The charge is Rs 20 per 'ORDER' placement, not per order execution... which means that we will pay only Rs 20, irrespective of when our orders get executed, and irrespective of the size of our orders. Sounds unbelievable... but it is true.

That's an interesting question. Logically, I think they shouldn't charge for order modification. I'll start using my Zerodha account from Monday, so I should have answers by then.

Logically it should be the same.
Good ,am interested in knowing your experiences,especially the order execution. Not much is known here on NSE Now.

 

[alroyraj]

Re: new cheapest broker is here. Zerodha

for nifty future...?

Nifty:
Span margin 7.10%
Exposure margin 3%

So at nifty 6000.4
Span Margin :21304.5
Exposure margin:9000.6
Total:30305.1

So for overnight positions Nifty margin needed is 30305.1
But for intraday positions Nifty margin needed is only 21304.5

 

[TradeRaid]

Re: new cheapest broker is here. Zerodha

There is a slight risk of misconduct, fraud by the brokerage firm. There can be many malpractices and shady activities going on there of which we may no knowledge. SEBI and other govt. agencies can only take action against them after they have done anything wrong but they can not prevent them from doing any wrong.

Agreed. But let's not forget that a broker can lose his license if he does any malpractice and then that is the end for him. I don't think any broker who goes through the trouble of getting something started will try a small malpractice. If anything, it has to be BIG!

 

[smartboy1jan1982]

Re: new cheapest broker is here. Zerodha

That's an interesting question. Logically, I think they shouldn't charge for order modification. I'll start using my Zerodha account from Monday, so I should have answers by then.

Do update us on this issue on Monday night after you get ECN's in your email.

Btw, How did you apply for a new account with them? The link on their website to open an new account is broken. So I can't find and download their new account application form.

 

[smartboy1jan1982]

Re: new cheapest broker is here. Zerodha

Agreed. But let's not forget that a broker can lose his license if he does any malpractice and then that is the end for him. I don't think any broker who goes through the trouble of getting something started will try a small malpractice. If anything, it has to be BIG!

Of course it has to be big and that is exactly why I am concerned about them. You get to hear a lot of horror tales about financial firms, that lured people with high returns, paid the early investors handsomely and garnered more funds after gaining confidence, and in the end ran away with the investor's money after filling their coffers.

The zero brokerage offer is as tempting to us traders that was to money depositor's tempted by higher returns on capital offered by small firm's.

 

[TradeRaid]

Re: new cheapest broker is here. Zerodha

Do update us on this issue on Monday night after you get ECN's in your email.

Btw, How did you apply for a new account with them? The link on their website to open an new account is broken. So I can't find and download their new account application form.

Well, I called them on their number. And it really helps that I'm based in Bangalore.... Call them on xxxxxxxxxxxxxx.
Good luck with everything...

 

[mrkanitkar]

Re: new cheapest broker is here. Zerodha

Guys,
I got sample ECN from them, which confirms they charge per order only.
Secondly they were sub brokers of Reliance money.
The plus point is NSE -SPAN software, NSE TAME, NSE NOW and NSE server only. The web version is hosted at NSE's server and not any private server.
This will make sure that we will not see any RKG type issues.
I will open account in next week.
It's Sebi's & NSE's job to keep watch on brokers and our's job to trade.