Zerodha Broker Review and Discussion

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20. Niraj kumar  Aug 28, 2016 11:12:36 PM IST Reply
Hi friends
I am new trader ,i am bit confusion to open accout, please suggest me which is better SAMCO(ITL) or Zerodha?
I have no more detail knowledge about market ,
For learning point of view please suggest me.
Thank you.
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20.1. Pratyush Singh  Aug 29, 2016 6:56:52 AM IST
I think between Zerodha and SAMCO, you should choose Zerodha because Zerodha not only have high tech tools and platforms but also they have lot of innovative ideas and discussion forums where you can get all sorts of information and answers to all your questions as a beginner in market. Brokerage wise both are same but definitely overall Zerodha is a better choice.
You can also think about Discount Broker like ProStocks as their brokerage is Rs 15 per trade and they have zero account opening for Trading and Demat, no AMC, also lowest stamp duty and transaction charges compare to Zerodha and SAMCO.
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19. rajat batra  Aug 23, 2016 11:50:52 PM IST Reply
Had been using Zerodha and ICICI Direct for past 1 month.
Following are my observations -

Differences -

Costing - Zerodha scores in this aspect as it provided trading at lower brokerages.
Technology/Platforms - Zerodha has surely done its homework in making its platforms ‘easy to use’ and ‘light’ (on bandwidth).But Zerodha platforms have certain glitches like refreshing page multiple times to view orders/holdings, orders not placed/placed multiple times due to server errors, funds not updated on closing (leading to dealyed availability of funds on next day), inability to login.

But ICICI Direct shows professionalism here as the performance of website is ‘glitch free’.
I prefer ICICI Direct as I have lost money on Zerodha due to server issues.
Customer Support - ICICIDirect is clear winner here as it provides u a dedicated advisor who can advise you and carry out your transactions.Most importantly you have a certain point of contact in case you have some issues.

Zerodha fares poorly here as their servers face frequent technical issues. Contacting technical support or customer support (for carrying out transactions) is a headache due to long waiting. Also there is single point of contact for complaint handling,i.e. Email. If your complaint does get resolved here, you wont be directed to some other person/manager. Your complaint will be closed without mentioning the solution provided by Zerodha. Rather, closures will simply mention that based on conversation with customer support executive, your complaint has been resolved.

My experience - I had traded intraday on L&TFinHolding. I sold 1000 shares in morning and wanted to square off the position by purchasing back the shares at lower price in the evening. I was unable to do so. So, I called the technical team but they were also unable to exit the position. My position could not be closed at that day and went to auction market. I lost some 800Rs for this transaction. I repeatedly mailed and contacted customer support team. They accepted that it was a technical issue but did not reply to any of my mails with the solution they provided becathey didnot provide any solution at all. All they did was assure me that such issue wont happen again.


Verdict-

For investment - ICICI Direct (or any other credible broker) as you will be invested with large amount for long term and Zerodha is less reliable.
For intraday trading - If trading for very small profits for eg. upto 500 or 1000, you may Zerodha as amount put at stake is less (in case you lose due to technical issues like myself and many others did).
If trading targetting profits higher than 1k, reliable brokers.

Rajat Batra
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19.1. Sanjeev K  Aug 25, 2016 8:58:06 AM IST
I Personally disagree with Mr Rajat, Max discount brokers are using very high end technologies, all software are same except the look and feel. We are in India and we know we don''t have 100% reliable infrastructure, so issue can come with ICICI also. Zerodha is trying to fix the technical issue in trading terminals and s/w.
Future of % base brokering is over and now ICICI should have to seriously think about moving to flat fee model.
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18. bhatnagar  Aug 8, 2016 2:55:10 PM IST Reply
in case i open only trading account with Zerodha and pay Rs 5000 as margin money,will it be possible for me to trade nify option and nifty future at least one lot.is there any margin calculator for Zerodha
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18.1. Vijay  Aug 9, 2016 8:21:44 AM IST
No, To Buy NIFTY Future 1 Lot which is equal to 75 Shares, Approx total Margin requirement is 66,000. You need approx. Rs 20,000 Exposure margin and Rs 46K as SPAN. As this is MIS order, positions must be squared off on trading day itself or will be square off by 3:20 by broker. Its advisable to have 70,000 in your trading account so in case you need to convert your position.
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17. Prakash R  Jun 28, 2016 8:58:35 PM IST Reply
Zero Brokerage for Delivery is nice to have. I joined Zerodha with this offer which suits my need well.
But I am not understanding the DP charges that''s been charged every time I sell my stocks from my holdings DP. Is this a trick played to bypass the brokerage and collect the similar amount as DP charges. is there any way to get rid of this as I am paying heavily on this.
I buy 100 shares @100 rs, exit 50 @125 and exit the balance 50 @150. I pay DP charges twice which is nearly 40 rs. This increases which I exit my positions slowly on profits. Kindly explain on this. Thanks.
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17.1. Vijay  Jul 2, 2016 9:40:23 PM IST
Hi -
Demat Approx) are going to be charged. If you do this for 1 share or 100 shares, this charges is going to be fix. For multiple transaction as you have done 2 trades for same share, you got charged 2 twice.
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17.2. Vijay  Jul 2, 2016 9:47:24 PM IST
If you have done the transaction for same script on same day, you are going to be charges, one time onlyDP Charge.

For example you have sold 100 Share for XYZ @10 AM and [email protected]:00 PM, in this case you are going to be charge Rs 14 only.

If scripts are different then you are going to be charge as may scripts you have sold.
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16. S Nivas  Mar 28, 2016 6:51:36 AM IST Reply
How much margin Zerodha is providing on Intraday Cash?
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16.1. Vijay  Mar 28, 2016 6:53:30 AM IST
Zerodha is giving upto 12 times exposer, its depend on script you want to trade.
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16.2. Priya  Jun 7, 2016 4:22:35 PM IST
the indian stock brokers site article says the exposure is only 10 times. But you say 12, which is correct?
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16.3. vijay  Jun 7, 2016 9:36:27 PM IST
Margin on Intraday square off is depend on marker condition and varies script by script, in some script you will get 3x margin and in some you will get 9x,10x, and so on. This is just a range between 3x to12x.
For more detail you need to see specific script which you want to trade.
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15. Naveen  May 26, 2016 7:40:03 PM IST Reply
Is Zerodha suitable for first time traders?
I am first time trader so is it suitable to go with discount brokerage firms or with full brokerage firms. Please suggest.
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15.1. Vijay  May 27, 2016 3:32:52 PM IST
Yes Naveen, Discount brokers are the best fit for first time investors.
1: Low brokerage
2: No Minimum Brokerage
3: You can do small trades like buy 10 and sell 10 shares and so on.
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15.2. Santosh  Jun 7, 2016 4:16:20 PM IST
I think you can also invest in mutual funds.
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15.3. Vijay  Jun 7, 2016 9:22:36 PM IST
Yes you can invest in Mutual Funds with Zerodha - Please read detail article https://www.topsharebrokers.com/article/mutual_fund_investment_with_zerodha/26/
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14. sajan  May 13, 2016 11:43:53 PM IST Reply
Zerodha is having lost of issue with there connectivity...Thats not good for investors.
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14.1. Kunal  May 13, 2016 11:47:21 PM IST
I am also having a lot of problems with them and I wanna switch to a new discount broker. Could you please tell me which broker you are using at the moment ? Would really appreciate your advice and suggestions.

Thanks and awaiting your response..
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14.2. Sajan P  May 13, 2016 11:48:34 PM IST
I suggest go ahead with small brokers who are using traditional tools like NSE NOW, ODIN.
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13. vijay  May 13, 2016 11:44:32 PM IST Reply
After all of this management is replying like this:
Dear Traders,

Over the last 10 days multiple leased line and data centre faults have affected us.We have clients distributed across multiple leased lines connecting to the exchanges from our data center. Each line has one line as well. After almost 1 year of no issues, we have had issues crop up in rapid succession.

1. Tuesday, 3rd May at 3.20 pm, one of the lines along with the failed. It was too near to the closing of the market, hence we couldn''t switch clients from this line to another.

2. Wednesday, 4th May at around 10.20 am, again the same lines with the failed. Since the exchange technology in India doesn''t support active failover, took us over 20 minutes to move clients manually from one to another. Orders placed before this incident wouldn''t get a status update since the clients were moved to a separate line. Hence the orders placed earlier couldn''t be cancelled and status was shown pending until around 2 pm, when we could connect the old lines and reconcile.

3. Monday, 9th May at around 9.20 am. Our team worked right through the weekend to ensure the best is done so that we are ready if the leased lines were to fail again. We flew some of the team to Mumbai and worked with two different data centres and ISPs. We were also super excited about releasing the new Kite web app on Monday into which a lot of love and hard work has been put in.

You can call it extreme misfortune that our second data center in Mumbai, where Kite servers are located, developed issues with internet connectivity (although we have multiple ISPs peered to it). So connectivity was on and off for almost an hour, probably also causing an impression that it was due to the new launch. All the other platforms were working perfectly fine.

In times when there are issues, our support team is subjected to exponential increase in work and pressure, hence slower response time. I acknowledge that we can do better to proactively inform you with regular updates in such times. We will do the same from now on https://zerodha.com/marketintel/Bulletin/

I am sorry for the inconvenience and heartache this has brought. It''s extremely unfortunate that it was completely out of our control, despite all the failsafes we have in place to avoid scenarios such as these, as is the case. I want to assure all of you that, we have been doing everything possible to ensure that you have the best experience, and we will continue to do so.

Thank you for your continued support.

Nithin Kamath
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13.1. Sandeep  May 13, 2016 11:46:17 PM IST
This is real time problem i have faced - There Kite platform was showing order placed successfully , but it reality nothing was happening . My order was not placed. Shame on Zerodha service.
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12. SURAJ  May 13, 2016 10:49:40 PM IST Reply
is zerodha provides exposer on Delivery, also when i transfer money from my bank to zerodha, what is the charges? how many total company listed with zerodha where exposers can be used...
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11. Sandeep  Apr 12, 2016 3:15:15 AM IST Reply
How much time it will take to trasferring funds from- and to- Zerodha trading account?
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11.1. Balachandar  May 12, 2016 11:12:16 PM IST
In general Instantly, the fund will hit your trading account. General better to transfer during banking works

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