Zerodha started - perhaps pioneered - cheap or discount brokerage model successfully. So many have sprouted now. Though technical glitches are to be taken into consideration as an inevitability it is still prudent to look for not just the reduced brokerage. The downtime and the frequency of the glitches (Again not published by SEBI/Exchanges for obvious reasons) should be the criterion. Shoonya which attempted the zero brokerage model has since changed to 5 rupees per order model as it might have been forced due to changes in the market. Unfortunately it is one of the worst sites because they cannot rectify the glitch till end of day in most cases. Today the service is practically down and their support is either shut or they just copy paste inconsequential reply. So my suggestion to future account opening individuals to not just look at the brokerage only. What is saved in brokeraged for a long period may be lost in one single such technical glitch day. And it is also not possible to know whether it is technical glitch or inadequate infra or incompetent IT team or something else or a combination of many factors. So better do research on the down time and the duration of such down times.
Very interesting, why does the regulator or the brokerages not share this information?
I did look it up the status/uptime page for Zerodha when I was looking into the possibility of using the API for intraday trades (shelved that plan since) but I was not able to find it, I would’ve thought as a tech-first company it would’ve been available.
As for Shoonya, I didn’t like their interface or API so never used them even though I signed up for an account with them as their support seemed knowledgeable enough to differentiate between a covered call and a naked one, they were the only broker among the many I contacted to not require maintaining cash margin for covered calls.
Still, I ended up using Zerodha for CSP/CC since the interface is much better and there is Sensibull integration. No point trying to pick up pennies in front of the steamroller!
I think they do not allow it. And as per the support answer from Zerodha the requirement of 50% cash margin is mandated by authorities. My guess is the opaqueness of the broker is what lures a prospective client to sign on. They will trade and thus generate money for the broker which in turn gernerates money for the exchanges and perhaps exchanges share it with SEBI apart from the huge taxation involved. So if they publish this information the number of total users will come down and affects their cash flows. I think the exchanges do not even come under RTI.
Thought of trading on US exchanges under the LRS scheme of RBI but then the bank commissions will be far more than the profits we can get if we are frequent trader. Again I understand that they will not let everyone to trade in derivatives. They may not be as intelligent as increasing taxes and lot sizes will do the trick!
But interface wise zerodha has no match. The ease of getting the info we need is intuitively presented that any zerodha user will treat them as the benchmark.
If we have to talk philosphy or religion or spirituality this may not be the right forum but i would say that these Gods and religions are all manufactured by possibly well meaning people of those times to establish some order in the society when law enforcement was difficult or expensive. Looking out for oneself is self interest and that is permissible under law or justice or religion. But grabbing something from others to hoard for oneself is the problem. Whether we profit or loss in the trade is our luck or competence perhaps. But we do not deliberately lose money. At least market participants come here to make money only. Of course what you said is absolutely true as a time series - from ethics in personal life to public life are all accelerating to hit the floor.
Respectfully @TitanTrader This is not the right forum to talk spirituality. I would appreciate if you could strictly keep topics neutral and on-point and not bring mystic beasts and flying people into the forum.
well… lol i simply used the word “kali-yuga” and curiously, everyone believes it to be “spirituality.” i’m only talking about the way things are thought out. in addition, this era which gore loag refer to as the 21st century, is known in Sanskrit as yuga/age, and kali is simply another term for a time cycle. religion and spirituality are not present here. i stand by what I said; this is how most business owners think.
Well, you are wrong. This is the Doraemon era also known as Dorayuga.
I do like Zerodha for their transparency and philosophies but to say their platform is a benchmark is a sort of overstatement. Kite WAS a benchmark at one point in history.
Sometimes try out AngelOne or Dhan and the benchmark set in your mind is likely to go even higher.