Can the forum, help me find a better broker/interface that exists in India, or any proven broker outside of india to trade indian markets, considering that connectivity and execution issues persists, in spite of capital availability to get resources and resolve these. Even the exchanges are at fault.
For me its high time to have some alternatives to zerodha, upstox, hdfcsec, astha, samco.
Would be glad if anyone can suggest seemless experience they have come across (even at higher prices/costs)
Or if all else fails, I have to change my trading strategy!!
So far havent come across any one who discusses these problems/restrictions ever in their methods/books/courses/lectures on FA/TA/PA/scalping-etc!!!
Time for one?! or everyone knows these things already except me?
as per my view,
reliable brokers like zerodha can face these types of problem due to hevy load. other small brokers may not, but how one can trust on them? (remember unicon,bma).
even karvy was big broker who cheated very badly.
big brokers like motilal oswal are not good for trader due to high brokerage.
trading at astha trade, tso, or any small brokers is some what risky.
Try interactive brokers. Have heard good things about them. Brokerage is similar to zerodha, slightly more. But it’s not a margin account so need to maintain cash to trade, cannot pledge shares to get margin
i’ve personally tried hdfc sec, icicidirect, idbi, kotak, upstox…all were bad due to bad user interface, system issues, transaction failures, hidden charges etc…i would prefer zerodha
@eaglem@Praksy@CoolBird
I could try various other brokers to experience their platforms 1st hand. But the KYC and other details get leaked repeatedly and the formalities have to be done repeatedly.
May need to pay the price this-way or that-way, but not getting any best-of-both worlds anytime soon.
Probably thats the reason for people to go for investment banks/AIF/hedge funds to do it for them, even at a reduced efficiency, which is way better than the situation I am facing with suboptimal solutions.
To overcome such incidence, becoming a member is best way, but which is not possible for retail trader.
second option is to minimize intraday trading on event/ on increase of volatility, & do positional trading.
third one is to develop a safe strategy which can protect from loss in such cases like like server down, power/hardware/network failure.
alongwith this you can open a/c with other broker with some hedging margin, so if main broker’s terminal become unresponsive you can at least hedge your position to stop more loss if trend goes wrong, & can’t exit from loosing position.
personal data in kyc has became a commodity in finance sector & is getting sold everywhere, we can’t protect it.
@eaglem, yes well said, suggesting what I noted earlier that ‘to change strategy to address these kind of problems’. Thanks for putting it out here. I hope you do practice these suggestions 2nd, 3rd and alternate broker account!
These are better than expecting something from someone which wont be available for a loooong time.
@economiconed yes, expections are no limits but reality has. so we should to be changed.
i have already alternative accounts but the experience is same.
i have designed a positional trading strategy, tested on historical prices, now checking on live trading from last 7 months.
i avoid or trade less when volatility increases. And options are hedging tools they aren’t safe in volatile market as a main trade. they must be used to hedge the futures. so if traders deal in only options the risk is always there. anyway thanks for sharing your knowledge & time to help traders.
yes bro, its on futures.
BTW, its hard to get exact expected profit in equity as low liquidity (with big qty, we face big difference in buy/sell price), which affect profit %.