Zerodha....

[tallmaster]

Wow...I just dont understand how could an admin behave like this !!!!!!!!!!!

If this thread is violating any forum rule....first an admin should put a warning in the thread itself. Give some time for the thread owner to respond. Otherwise lock the thread so that new posts cant be posted till the thread owner gets a chance to respond. Only after getting a response from the thread owner or after giving sufficient time to respond, the thread should be deleted...not like this.....this is very childish behaviour...seems like some admin is close to some other brokers and acting on his behalf.....please give a fair chance to the thread owner to respond and then delete the thread if you are not satisfied by his response. Grow up admin.....

 

[nac]

I guess, the said thread should have been removed because of violation in one or more of the following things

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[Zerodha]

dear zerodha

pl reply on back office....how to get net profit excluding stt and other statutory charges...........your idealx backoffice gives only profit without taking statutory charges into consideration............

Hi Gainloss, your wish is our command ... .... Have spoken to our tech team, we will include a statement excluding stt and statutory charges.. Give us 5 days time, the next monday you should have it available...

 

[tradersuraj]

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[Zerodha]

Dear Zerodha,

I have opened an account with you and started trading in a small way....my experience of your service so far has been excellent.Keep it up...

All the money received from the clients have to be deposited in a separate " clients' account ". Broker cannot use this money for his expences . But this account is meant for meeting the payout obligation towards clients and aslo meeting margins/M to M of various trading clients . Please clear my following doubts :

1) I understand that the "clients' account " is a separate account but it remains with the broker. The broker can easily remove all amount from this account if he likes (though at later date he will have trouble with SEBI and NSE audits) .Do NSE /SEBI have any control on this account on day to day basis ? ( something like the cash cannot be withdrawn from this account or the account is enabled for transfer of funds only to NSE settlement account ?)

2) Is this account used for settlement obligations of the client to the extent of that client's credit and other clients money is not at risk if a large client suffers huge M to M losses which he cannot honour. Is there any control on how much amount is used for each client and ensuring that the amount exceeding clients credit is not used to fund his M to M losses. In other words what is the safety of other clients' money ?

These questions are more relevent as the clients donot have personal contact with you/your set up and also they are not very important when one is trading with margin amount of less than say Rs 1 Lakh but they become very important when we have to think of putting in larger margins to trade in larger volumes.

Neither doubting your intentions nor capabilities but answers to these questions will go a long way in developing a trust between client and the broker which is the base of our business.

Best wishes,

Smart_trade

Hi Smart trade,

Most of the brokers today have various debits on ledger which doesn't really make sense..When I was trading with a broker, he was charging me late payment charge .. All of us usually look at our contract notes and never really bother to look at the ledger...This is a form of cheating, when the intention is to do that that is when the question of integrity has to be put up...
A lot of clients would vouch for the fact that you cannot see 1 extra debit on the Zerodha ledger.. Whatever is the debit or credit of contract note is all that shows up.. What I am trying to say is that we are trying to do the business neat and clean, we give spreadsheets to show the actual charges even before a trade is put..As far as your questions are concerned..
1. Client account is separate and cannot be used for any general expense of the broker. NSE and SEBI keeps doing audit and monitoring on live basis, any such activity leads to huge penalty on the broker.. We are very strict on our compliance as a lot of clients would have realized by now... We don't accept funds from any bank account of the client other than the one that is linked...We actually transfer the money back if client does it from other accounts( no broker transfers money back in this case ) ... No third party transfers... no D.D's .. nothing..... The system in place is for collective benefit for everyone involved...
2. All the settlements happen through what is called NSE settlement account.. Funds go from client account to settlement account and vice versa... For risk management we have standard set of rules for everyone.. For us a big trader is not someone who buys 300lots of nifty futures at a time, it is the scalpers who buy and sell small quantities a lot of times during the day... Big traders are a spoil lot in the market, they get extra leverage, weekend parties etc etc ... With us, risk management rules are standard, so unlike other brokers we don't have to bend our back to the so called big traders... ...
The problem usually comes to brokers for the margin funding positions on shares( mid caps, small caps).. As already told before, we don't take this risk on our books, we pass it on to ILFS who is India's biggest dp (upwards of 10000cr in cash) and who can take it on their books without any issues.. In short, we are actually much safer than most of the other mid sized brokers in the country because our risk management rules are uniform..

Will probably take a while before people start asking these questions I suppose... .... But it is cool, as it is your money... Cheers...

 

[Zerodha]

i also wanna open an account so thinking seriously with zerodha. but if it is little bit true that you don't cater small account or don't think this small amount is his hard earn money, than it scares me. or one think i also wanna know this offer is (20 rs) is for momentary lasts for years . i mean i had account with reliancemoney for 1 paisa but they change there terms and condition like 15 rs per side trade and many more. i wanna to said what happen when you hit target of millions account than you will also apply same strategy any one who wanna open a account with zerodha he will not ask there charges. he asked how long that charges will remain . what happen after 6 months of account opening they change their plans !!!!!!!!!!

Hi darkstar,

Whoever said we don't cater to small accounts.. If you read the previous post, for us a small account or big account doesn't really matter.. Every client is uniform to us, just because a client buys 300 lots of nifty we don't kiss ass or just because you trade 1 lot we neglect you... We are the only brokers today, who don't charge a minimum brokerage... You buy equity for Rs 100 for a day in our percentage plan, the only amount that will show in the contract note would be Rs 0.01 ... If we didn't care about the small traders, like every other broker we would have had a minimum Rs 20 per contract or etc..... Our name Zerodha stands for ZERO + RODHA( barriers in sanskrit) or Zero Barriers... We wouldn't name our company this if we intended to acquire clients and then increase charges... We are planning to have interesting things that can be done on the pricing from the next financial year, which could save you costs even from the present levels..... Cheers...

 

[Zerodha]

Traderji Moderators, Pls answer the allegations that Zerodha thread has been removed. At least give us answer why it was removed or was it that some other brokerage had complained hence it was removed or is it that somebody else had it removed.

Anyways, the brokerage model brought by Zerodha will itself ensure that all the other brokerage think about clients profit first before their own and it will be of no use removing Zerodha messages because they have already impacted the Stock Market in India, the way we trade.

Zerodha, one thing is assured, your business model is a win win situation both for the clients as well as you. Only issue for you is to get as many clients as possible within a short period span before other brokerages start to go your model route. Best of Luck

One thing is for sure, we are going to change the way stock broking is done in India. Businesses in India know how to grow big by playing dirty. We are trying to do it by playing it clean.. Nithin was telling the other day in a meeting that if tomorrow we get a lot of business that can't be managed with the present setup, we will stop opening new accounts until we are scaled up and won't compromise any bit on the existing clients... I have worked with a lot of brokers for years and haven't really ever heard a broker say something like this.. Brokers will scale up the business even if they can't serve the clients, goof up and pretend that everything is alright...
When I told about this incident to him, he said that I might have been assumptive that someone deleted the thread intentionally to stun our rate of growth..We have got a good exposure because of traderji and we need to thank this forum for being able to express our thoughts... we will take the biggest banner ad at traderji for a year and also am trying to figure out how we can have a sponsored thread... Any inputs will be valuable...
But if it is done intentionally even though we hadn't done any solicitation, then I suppose even this thread would be deleted very soon. But, what the person deleting has to realize is that we have come up with a business model that can create a win-win scenario for both traders and us and we are doing it in a nice-clean way...Competition is good, forces the people involved to be in shape.... Cheers....

 

[RAMDAS]

Thread restored

problem resolved

 

[darkstar]

One thing is for sure, we are going to change the way stock broking is done in India. Businesses in India know how to grow big by playing dirty. We are trying to do it by playing it clean.. Nithin was telling the other day in a meeting that if tomorrow we get a lot of business that can't be managed with the present setup, we will stop opening new accounts until we are scaled up and won't compromise any bit on the existing clients... I have worked with a lot of brokers for years and haven't really ever heard a broker say something like this.. Brokers will scale up the business even if they can't serve the clients, goof up and pretend that everything is alright...
When I told about this incident to him, he said that I might have been assumptive that someone deleted the thread intentionally to stun our rate of growth..We have got a good exposure because of traderji and we need to thank this forum for being able to express our thoughts... we will take the biggest banner ad at traderji for a year and also am trying to figure out how we can have a sponsored thread... Any inputs will be valuable...
But if it is done intentionally even though we hadn't done any solicitation, then I suppose even this thread would be deleted very soon. But, what the person deleting has to realize is that we have come up with a business model that can create a win-win scenario for both traders and us and we are doing it in a nice-clean way...Competition is good, forces the people involved to be in shape.... Cheers....

friend zerodha you stop account momentarily if is it true when will again open pls tell me . send me private message . you closed your your pm ! i realy appreciate if you continue this clarity continuity in your plan in history of indian corporate world no one follow the continuity not even R or bank ICXXI you understand whom i about talk .
thanks

 

[superman]

One thing is for sure, we are going to change the way stock broking is done in India. Businesses in India know how to grow big by playing dirty. We are trying to do it by playing it clean.. Nithin was telling the other day in a meeting that if tomorrow we get a lot of business that can't be managed with the present setup, we will stop opening new accounts until we are scaled up and won't compromise any bit on the existing clients... I have worked with a lot of brokers for years and haven't really ever heard a broker say something like this.. Brokers will scale up the business even if they can't serve the clients, goof up and pretend that everything is alright...
When I told about this incident to him, he said that I might have been assumptive that someone deleted the thread intentionally to stun our rate of growth..We have got a good exposure because of traderji and we need to thank this forum for being able to express our thoughts... we will take the biggest banner ad at traderji for a year and also am trying to figure out how we can have a sponsored thread... Any inputs will be valuable...
But if it is done intentionally even though we hadn't done any solicitation, then I suppose even this thread would be deleted very soon. But, what the person deleting has to realize is that we have come up with a business model that can create a win-win scenario for both traders and us and we are doing it in a nice-clean way...Competition is good, forces the people involved to be in shape.... Cheers....

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