Zerodha....

[Zerodha]

Re: new cheapest broker is here. Zerodha

So I assume one should not fear of losing any money from trading account or shares from demat account. With all due respects to your business model and it's risk management procedure, what will happen to your clients in case you go bankrupt or quit from business and one has Rs. 10 lacs in your trading account excluding shares in the demat account ? After all that is enough money for a retail investor. Is there any risk of money vanishing at all with any other small brokers ?

Hi Kaushik,

All the clients funds sit in the NSE client account which is monitored by NSE, SEBI and which belongs solely to the clients. So even if we go bankrupt as a company, the funds in the NSE client account still belongs to the clients. Broker has no rights over it..
What has happened is a lot of Sub-brokers who have done trading on clients account, a lot of tipsters offering portfolio management etc... who have lost money for the clients. A lot of money of clients has been lost by these kind of guys and as I have already mentioned, we are absolutely not into the space of having subbrokers, franchisees etc who can place orders on behalf of clients...
Your concern is absolutely valid, but what you need to understand is that the scenario that you have mentioned has never happened in the history of NSE.
NSE is at the end of the day one of the best exchanges in the world and they keep the end users interest way above anyone else's.

Cheers...

 

[ltnikhil]

Re: new cheapest broker is here. Zerodha

HI zerodha.
first of all i must appreciate the promptness with which you respond.
secondly while i agree that the position is not fully hedged but the client can go wrong only on one side and not both the sides hence reducing the margin required to trade.

 

[ltnikhil]

Re: new cheapest broker is here. Zerodha

HI zerodha.
can we apply for IPO online if we open a demat and trading a/c with zerodha.

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

HI zerodha.
first of all i must appreciate the promptness with which you respond.
secondly while i agree that the position is not fully hedged but the client can go wrong only on one side and not both the sides hence reducing the margin required to trade.

Thanks .....
So here is how it is, the margin required to short options keeps reducing as and when the strike keeps going out of money.. So for eg today, if you had to short 5900 call and hold overnight, margin required is 31000, 6000 call is 29000 and so on and 6500 call is 18000 Rs... Same way the 5500 put the margin required for overnight position is 18000Rs.
Together it is 36000 Rs that is required, which is very close to what is required to short 1 in the money option(32000)... So, yes there is a margin benefit, but not as much...
What we are trying to work with the NOW team is to set in rules where, assuming you are short 5500 put and 6500 calls, but you are also long 5300 put and 6600 calls.. basically a position where the maximum risk is 100 points on nifty( Rs 5000).... We are trying to set rules where you can get this benefit.. with 5000 you should be able to setup the entire strategy... Cheers...

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

HI zerodha.
can we apply for IPO online if we open a demat and trading a/c with zerodha.

Presently online is not possible as the NOW platform still doesnt have that facility....

 

[ltnikhil]

Re: new cheapest broker is here. Zerodha

hi zerodha
i have opened an a/c recently. the details of linked bank a/c in user profile of NOW are incorrect. my e mail to zerodha has not elicited any response. further the pay in facility is not working inspite of having linked a SBI a/c. maybe it is due to incorrect name of bank in user profile. please look into the matter and do the needful as the delay is preventing me to start trading with zerodha.

 

[Taurus1]

Re: new cheapest broker is here. Zerodha

What we are trying to work with the NOW team is to set in rules where, assuming you are short 5500 put and 6500 calls, but you are also long 5300 put and 6600 calls.. basically a position where the maximum risk is 100 points on nifty( Rs 5000).... We are trying to set rules where you can get this benefit.. with 5000 you should be able to setup the entire strategy... Cheers...

:thumb::clapping:
Would be even better if this can be applied to all hedged positions where the amount of risk is known before placing the trade.

 

[stocksplacement]

Re: new cheapest broker is here. Zerodha

Zerodha,

It seems there is a new rule which i came to know day before yesterday, which requires that I have to send a photo that too with my pan card holding. Is it a new rule according to SEBI/NSE/BSE

As it is we are submitting all documents which is a proof in intself

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

hai zerodhaonline.com

i am a non resident indian,is i can trade in your platform in both intraday and delivery in both cash and f&o market.

thankx in advance

Hi siraj,

You can trade delivery but futures and options is something that you can't presently as an NRI.

Cheers..

 

[Zerodha]

Re: new cheapest broker is here. Zerodha

hi zerodha
i have opened an a/c recently. the details of linked bank a/c in user profile of NOW are incorrect. my e mail to zerodha has not elicited any response. further the pay in facility is not working inspite of having linked a SBI a/c. maybe it is due to incorrect name of bank in user profile. please look into the matter and do the needful as the delay is preventing me to start trading with zerodha.

Hi Nikhil,
Must be a goof up if no one responded to your mail. Will have someone call you back tomorrow to sort it out for you. As far as the SBI gateway is concerned, it is still not live from the NSE side. Should happen in the next 10 days. Till then you can trade by transferring funds through NEFT or RTGS.. You can look at the following link for more : http://zerodha.com/main/zerodhafundaccount.html