Zerodha....

[Zerodha]

Re: new cheapest broker is here. Zerodha

Zerodha,

1. I believe I have to give only one cancelled cheque is it, or is it two cancelled cheque 1 for Zerodha and 1 for ILFS, please advise.

2. I want to nominate my wife but has not made her Pan Card, is Pan Card Number necessary for nomination.

Please advise.

Only 1 cancelled cheque leaf is enough...

The nominee needn't have a PAN card.. So you can definitely nominate your wife..

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Thanks Zerodha,

just got a call and everything is resolved. i will get an application form soon. going to open trading account with u.
must have to say now ... cheers....

upendra

Cheers.. Sachin...

 

[shabsaif]

Re: new cheapest broker is here. Zerodha

The contract note you see has the client buying and selling 600 lots of options and paying a brokerage of 160 rs.. The reason transaction charge looks high because the amount of trading that has happened... 5000rs/crore of premium what exchange charges as transaction charges is not the only charge that we have to pay as transaction charges... There is a cost of clearing also which is around 2500/crore of premium... 600 lots bough and sold even with RK Global would have costed 12000 Rs and you would have paid service tax on this brokerage of Rs 1200.. Whereas with us he has paid 160 rs brokerage and a Service tax of Rs 16.. Cheers...

Dear ZERODHAONLINE,

you mean other boker havnt charge 2500/Crore because they will charge higher brokerage. Also I assume that sebi charges, you have to charge because of same reason. Thanks for clarification.

 

[eey0069]

Re: new cheapest broker is here. Zerodha

... 5000rs/crore of premium what exchange charges as transaction charges is not the only charge that we have to pay as transaction charges... There is a cost of clearing also which is around 2500/crore of premium...

Could you shed more light on the clearing cost which is mentioned as INR 2500/crore of premium? Is it a charge that a customer would have to pay irrespective of which broker he is trading with, as it a mandatory charge?

Thank you.

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Could you shed more light on the clearing cost which is mentioned as INR 2500/crore of premium? Is it a charge that a customer would have to pay irrespective of which broker he is trading with, as it a mandatory charge?

Thank you.

Every broker incurs a clearing charge.. This cost keeps reducing as the trading volumes keeps going higher.. The bigger brokers like icici etc don't charge this separately because they are already charging 50 to 100 rs/lot as brokerage.. Smaller brokers charge anything between 6500 to 10000 rs /crore of premium... Even religare which is a big broker charges closer to 9500rs/crore.. People never really notice these charges because no broker comes out in open and talks about his charges... We are trying our best to keep this most open platform in terms of charges.. Cheers...

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Could you shed more light on the clearing cost which is mentioned as INR 2500/crore of premium? Is it a charge that a customer would have to pay irrespective of which broker he is trading with, as it a mandatory charge?

Thank you.

And one more thing, if for the contract note that is attached.. if the brokerage paid was 20000 Rs , no one would have bothered about 1500 rs as transaction charge.. It seems insignificant... With us the brokerage you are paying is only Rs 160, 1500 Rs suddenly seems like a big component.. Cheers.. Sachin...

 

[eey0069]

Re: new cheapest broker is here. Zerodha

And one more thing, if for the contract note that is attached.. if the brokerage paid was 20000 Rs , no one would have bothered about 1500 rs as transaction charge.. It seems insignificant... With us the brokerage you are paying is only Rs 160, 1500 Rs suddenly seems like a big component.. Cheers.. Sachin...

Correct me if I'm wrong, but as 'shabsaif' has mentioned, out of the 1694 that has been charged, 1058 will anyway be incurred as Transaction charges. It is only the balance 636 which is charged as 'clearing charges' for ~21 lakh premium turnover, right?

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

Correct me if I'm wrong, but as 'shabsaif' has mentioned, out of the 1694 that has been charged, 1058 will anyway be incurred as Transaction charges. It is only the balance 636 which is charged as 'clearing charges' for ~21 lakh premium turnover, right?

Yes, the balance 636 would be the clearing charge for around 21 lk of premium turnover..

 

[kaushikbanerjee]

Re: new cheapest broker is here. Zerodha

@ Zerodhaonline :

Wishing Zerodha all the best.
Zerodha, RK Global, Bezel, etc are already causing big brokers to worry.
Religare's recent advertisement says "Big is always better than Small. Always go with the big specially while riding the stock market."

Can you highlight what is the exact risk in dealing with small brokers ?

Presently I'm investing/trading equities with Sharekhan and trading FnO with RK Global. Interested in Zerodha for equities at 0.01% intraday & 0.1% Delivery.

 

[Prashant Patel]

Re: new cheapest broker is here. Zerodha

@ Zerodhaonline
Sir how many signatures are to be done?