Dear Mr. Nithin Kamath,
I hope this email finds you well. First and foremost, I would like to commend Zerodha for the excellent trading platform and services you provide to traders like myself. The user-friendly interface and transparent pricing have truly transformed the way we participate in the financial markets.
I am writing to you today with some suggestions for enhancements that can further reduce the mental stress experienced by traders using your platform. These suggestions aim to streamline processes, improve efficiency, and provide a more seamless trading experience. I believe implementing these changes will greatly benefit the trading community. Let me outline each suggestion below:
Option to Specify Stop Loss and Target Value (not percent) while placing normal Orders:
Currently, traders need to constantly monitor their trades and manually cancel orders if one is fulfilled. It would be highly beneficial if we could set stop loss and target values in absolute terms (not just percentages) when placing an order. Furthermore, incorporating these options into OCO (One Cancels the Other) orders would automate the process, reducing the need for constant monitoring.
Integration of Mutual Funds and Other Investments from Coin App into Kite Platform:
To facilitate a holistic view of our investments, it would be immensely helpful if the Kite platform could display information about mutual funds and other investments made through the Coin app. Having all investment details in one place would simplify tracking and analysis, thereby reducing tracking at multiple places.
Display Margin Utilization for Individual Positions in Options Selling:
For traders involved in options selling, it would be advantageous to have a breakdown of the margin utilized for each individual position. This feature would allow us to have a better understanding of our risk exposure and make informed decisions, ultimately reducing mental stress associated with margin management.
Ability to Close Long-Term Option Contracts When Counterparty is Available:
Currently, some traders face difficulties in closing long-term option contracts, even if the counterparty is available at the desired price. It would be greatly appreciated if the system could address this issue, enabling traders to efficiently manage their positions and exit them when necessary. Additionally, ensuring that the Good Till Triggered (GTT) functionality works for such contracts would further enhance the trading experience.
Eg: This trade:
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Treating Different Orders as Separate Entities, Even with the Same Instrument with multiple orders in same day (Considering one position is closed and fresh position taken)
In certain scenarios, traders may need to place multiple orders for the same instrument in single day. However, the current system may treat these orders as a single entity, leading to confusion and potential complications. By treating each order as a distinct entity, even if it involves the same instrument, traders can better manage their positions and avoid mental stress arising from order management complexities. May be option can be given to ask for merge or treat at new.
Introduction of GTT-OCO Orders in Commodity Trading:
Extending the Good Till Triggered (GTT) functionality to OCO (One Cancels the Other) orders in commodity trading would be a valuable addition. This feature would empower commodity traders to predefine entry and exit points, automatically placing orders based on their trigger conditions. Such automation would reduce mental stress by eliminating the need for continuous monitoring and manual intervention.
Transfer of funds and Positions from one account to another account
I currently hold two separate accounts with Zerodha, and I would like to merge them into a single account for better management and convenience.
Account Consolidation:
Currently, there is no way to merge or transfer securities/F&O positions/ Funds from one account to another. By consolidating these accounts, I aim to streamline my trading activities and have a unified view of my investments.
Mutual Fund Transfer from Groww:
Additionally, I have investments in mutual funds through the Groww platform, which I would like to transfer to my Zerodha account. I understand that Groww does not store mutual funds in demat form, which may pose a challenge for the transfer. Therefore, I kindly request the support of your team in facilitating the transfer of these mutual funds from my Groww account to my Zerodha account. I am willing to provide any necessary information or complete any required documentation to initiate this process.
I believe that incorporating these enhancements into the Zerodha system would significantly alleviate mental stress and enhance the overall trading experience for your clients. I am confident that your team possesses the technical expertise to implement these changes effectively.
Thank you & I greatly appreciate your commitment to improving the trading ecosystem, and I look forward to witnessing Zerodha’s continued growth and success.
If required, you or your team can connect me at the below given number.
If proper BRD is required for these, I can facilitate that as well.
Thanks
Amit
