Yeah apologies.They did mention this in their pricing plans.But hidden somewhere.I used atleast 5-6 brokers accounts till now.Now where did i see charges for bracket orders.Hmm
.Also their UI seems pretty naive. Atleast a couple of times i have seen angular errors in console.I dont know what to say .
I have seen brokerage charge issue even with Z
But I know deep inside that Z is genuine and will handle billing issues professionally
I donât have the same confidence with others
The person matters.
Donât you notice how Upstox screwed after Raghu left? They have account opening centric approach instead of their previous customer centric approach.
Till date I have never seen any product like Trade academy!
I am not aware
I Believe Thatâs f cheap trick. Firstly, they or any broker itself dont have a fine product were bracket order quantity fill in one packet. When I chatted with Nitin, said BO will work that way. So itâs a very hectic and devastating moments to close the 1000s of orders when itâs going negative or even positive. Top of that, Here comes unethical, who makes business out of it. Seriously thatâs insanity CHARGING BO IN SUCH WAY
Any reviews on Fyers?
Check it on traderji site.
There is plenty of them.
Fyers is pretty good in my opinion, they already have trading from charts similar to tradingview which is very neat for intraday trading.
I am actively using AliceBlue (and its API) from last 1 year. Here is my honest review:
1. Account Opening:
Not so smooth. Took around 15 days to open. They have regional presence of the contact person in Mumbai, who helps openning the account. I dont know why they did not go with Aadhaar based system, just like other brokers. But, once accoount is opened, never faced any issues.
2. Platform:
Mobile & Web: Compared to other discount brokerâs (except Zerodha), both platforms are good and simple. But overall bit slow in terms of ading symbols, placing orders etc.
In the past 1 year, faced issues 6-7 times mainly related to logins. Few times, it did not allow to login from both the platforms with the message username or password not correct. This resolved after sometime. Other than that, I have never faced any issues.
As far as Zerodhaâs platforms goes, there is no match for Kite. It is very simple, super fast. Zerodha have done commendable job to improve the platform and kept it that way.
As far as technical issues goes, no one is immune from that. I have account with almost 6-7 brokers and faced issues with all of them. It is not just the brokers faults, there are many layers in between connecting to exchange, Anything goes down no matter whatever redundancy you put in between, no one can claim 100% uptime for their platforms. Just accept this fact and choose a broker who does not breaks so often.
3. Leverage:
I chose AliceBlue speciifically for the leverage for Option Writing, They provide 10x on normal days, and 5x on Wednesday/Thursday under Freedom 20 plan. You can request 10x on Wed & Thu but it is charged rs 20 per lot. Rs 20 / lot is too much of a brokerage. Once, I did request 10x on expiry but seeing the contract note, never opted again.
However, since now with New Margin framework, I dont see a need for the leverage, even this June month, I did not use the leverage at all. All my strategies are now hedged and positional, I now do not plan anything specially for Expiry day hence no need for the extra leverage. Having said that, extra leverage does help if you get good opportunity on the expiry day (just keep your greed in check).
4. Hidden charges
I did not see any hidden charges.
5. OTM Strikes
One of the other reason to move away from Zerodha, You can buy any strike which is away some % from spot (For Nifty I guess it is 3%) which is more than enough. In fact I rarely faced issues placing buy for OTM strikes. SASOnline even allows all strikes.
6. API
I am a software developer and try to automate as much as possible. I started with Zerodha Kite API, but cost is high (2000/- for the api), when compared to Upstox I moved to Upstox (now upstox do not accept new API account request).
When I opened account with AliceBlue, I requested the API access, and it was enabled in just few days. Its totally free (api & streaming data). But there were challenges integrating with my system. They dont have .Net client, I had to write complete .net core wrapper for their REST based APIs. Also, even though, API documenation is good it is not complete, it lacks few of the API endpoints, which I found from other sources.
I never faced any issues executing orders through the AliceBlue API nor with their streaming data. I never validated the latency of the streaming data but it did not matter to the type of strategies that I execute. Few seconds latency here and there I can live with that.
7. Support
I interacted few times with the support. It is slow and they reply with usual template messages. I can not comment more on this as my interaction with the support was limited.
I think, overall I would give 4 out of 5 to AliceBlue. Specialy for the leverage (whoever need them) and APIs. Mobile & web plaforms are not bad either.
@siva
Also, a suggestion to Zerodha, when now almost all brokers are providing free access to the APIs, Zerodha still charging insane amount, they should at least bring down the API charges if can not make it free, at least price it under 500-700/-, that should be reasonable I guess. Just my suggession.
I understand OTM strike issues with Zerodha, please try to find a way to allow all OTM strikes, otherwise there will be no use of new margin framework on Zerodha platform. I am aware of routing through Orbis or something but I dont know how seamless this process is and this applies to orders placed through API as well?
no no 2000 is fair because zerodha has such high quality data and infrastructure even exchange buys data from them
I hope it was a sarcasm 
I hope so tooâŚthanks for taking the time to write the detailed review, my main issue with them is reliability of execution (stops not getting triggered) and reliability in general(safety of capital) thatâs why on the edge if I should open account or not
Frankly speaking, have not faced many issues with execution. May be because, most of the time my orders went thrugh their APIs.
For safety concerns, as they say, dont put your eggs in one basket 
When we keep reading about scams by even biggest brokersâs , our trust gets shaken.
Why not open account with them and experience first hand?
have actually started process to open acct with ICICI direct their leverage is much more than anyoneâŚalso âiciciâ so donât have to worry about loss of capitalâŚbut with upcoming SEBI cap on intra leverage ( who knows when ), luxury of leverage seems short lived
Hmm⌠with new margin framework, is there any need for extra leverage now?
May be, for cash or other segments needed if you have built a good system, but for options based strategies, I think life is now sorted?
Depends on systems, I do intraday naked selling on atm weeklies no benefit for me
5paisa is good ,option writing 10times on expiry day with 2rs per lot brokerage and no issue of otm strike
Will look into it thanks, lot of options now haha
We want APIs to be used by clients who really understand trading and has some decent capital and experience, more chances of new users to wipe out their account if they try APIs with out proper understanding also for small investors APIs are absolutely not necessary.
We have seen many scammers and tipstars asking clients to take APIs and selling their algos, if they are cheap many will buy them and eventually become victims, we are okay if only few uses them but donât want newbies and small investors buying them. Few genuine people many feel prices are little high but canât help with this.
Thanks @siva for responding.
I hope these are your genuine concerns for new users otherwise there are many ways Zerodha could help get new user comfortable with APIs.
How to do you decide whether a new user has enough experience and really understand the trading.?
Do you expect them to submit copy of their ceritifications before enabling the APIs?
A better way, in my opinion would be:
If a new user determined, he can also go with another broker, access free APIS, code their algos and wipe out their account, How does Zerodha helping here with pricing API access at 2000/-?
At least, if you could follow above recommenation and bring down the cost, at least new user can test the water in the tub before jumping into the sea.
You have got amazing API with a world class documentation and client libraries for different plaforms, coding algos with Kite API in not that difficult anyone with decen programing knowledge can get started in no time. Your technical team has already done a great job here.
However, pricing is the real barrier to entry, Its time to seriosuly give a second thought on the pricing.
@siva @nithin
