Why only for their ID’s? I’m also facing this issue occasionally. I check my margin after placing order and also after the order is executed. So I know exactly when there is a negative margin requiring additional brokerage charged. Sometimes, even though the margin in account is positive, an extra Rs. 20 gets charged as brokerage.
Other times, when only 1 order has been placed when margin was negative, an extra Rs. 40 or Rs.60 (instead of Rs. 20) has been charged?
If additional brokerage is charged, there needs to be a mechanism in place to show for which order the additional brokerage was charged.
Clients should not be told to just take the word of the broker without any proof being offered showing that the margin was negative, since there is clearly a conflict of interest at play here.
An extra 20 or 40 rupees here and there will add up quickly over a long period of time.
cc @nithin
Exactly my question. Why would you fix it by individual client IDs if it the need be to fix the calculation logic.
@nithin Please help
The support executive mentioned that each time margin goes negative, double brokerage is charged on 2 orders ie one immediate prior order and one immediate post order when margin goes negative.
Is this true @nithin @ShubhS9
This support article mentions
“A brokerage of ₹40 per executed order will be charged instead of ₹20 while placing an F&O order if the Zerodha account has a negative balance”
A plain read of the article doesn’t indicate that for each time margin turns negative, double brokerage will be charged on 2 different orders, not just 1!
I recently got mail for provisional margin shortfall of about 2 lakh. I carry only short position in options. Margins might have increased due to increase in SPAN margin in EOD file. If I don’t bring money today by 11:59 PM, there should be following consequences:
- Charging of interest on negative balance @ 0.05% per day
- Brokerage @ 40 till account remains in negative
- RMS squareoff tomorrow and call and trade charges.
@shubhS9 will I be charged margin penalty ??? It should be upfront margin penalty according to what has been discussed above and hence cannot be passed on to me. Am I right ?? moreover will there be any other consequence(s) ??
No, there won’t be margin penalty. There won’t be any other consequences than those mentioned above.
I also got charged extra brokerage even though I haven’t placed any order after my account goes -ve . So , I think they charge you 40 Rs for order prior if account goes negative. I think this Article needs to be updated or if its the bug then it should be fixed.
Dear Zerodha Team, When I placed AMO to Buy ULTRACEMCO, it shows required margin 1.31 L (approx). After placing another AMO order to Sell ULTRACEMCO, the required margin is zero.
If so, even after these orders, can I use my total margin (as nothing is used) for further trading ?
You might have place sell order under CNC, hence it would show zero margin required. The margins for AMOs that you have placed will be blocked once these are submitted to the exchange. At the time, if you do not have sufficient funds in your account, these orders will be rejected.
Checking this,
Hopefully, once this order is implemented, we will get to know exactly how much brokerage we will be paying per order; before placing the order rather than having to check the contract note at the end of day to figure out the actual brokerage charged.
So , its the the system has to be fixed for this circular to impmement as currently we are being charged for before order after account goes -ve.
Much needed. Even with all the transparency initiatives, zerodha is still not comfortable displaying brokerage as a separate line item in the funds statement.
Currently its quite random actually. Sometimes before, sometimes after and sometimes on both the order before and on the order after margin turns negative.
#20230125792907 : Charged extra yesterday as well ,even though account didn’t get to negative margin during market hours. My account went negative after market hours for expired contracts( as Zerodha systems doesn’t release margin at 3:30 for expired contracts but at EOD so any new margin files comes will reflect -ve margin so I have been charged extra brokerage.
Its clear from multiple cases that we are being charged Rs 40 for Order before account goes negative. So , either update and be transparent that you charge extra brokerage for previous order as well or fix the system or reverse every bodies brokerage who are have been charged extra.
Also , below screen doesn’t fixed this issue as told by support guys last month moreover this screen doen’t show Rs 40 brokerage when account is negative.
