Good brokers other than Zerodha?

Trading
1

Good evening everyone…
Can you please suggest good brokers other than Zerodha?
I primarily am dealing in fno, and use pledged instruments (basically gsecs, and some shares) for trading in fno…
I have a relatively small account, and the fact that I have to sell lots first and then only I’m able to buy lots for hedging is killing me in brokerage…
The thing that can be done in under 100 rs brokerage, is being done in multiple times this amount…
I like Z a lot, but this is just killing me.
Can someone please suggest where I should shift to?
I need pledging of gsecs and shares, basket orders for fno and good order executions.
Thank you…

6 Likes
2

You seem to have a cost problem. Im not sure shifting would address this. Although you can check out Kotak Neo. It’s creating some buzz lately. With others, just don’t fall into the BNPL trap.

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3

The only problem I’m facing is that I have to sell lots first when I have to create a strategy…due to oi problem in Zerodha…
Otherwise if I can buy lots first, I get the margin benefit and the whole order can be executed in one go…
But due to OI problem in Zerodha, I have to sell say 10 lots, then buy hedge 10 lots…then repeat, then repeat…
This process is just killing me in brokerage…
So, if anyone can please guide me the solution for this problem…
Thank you

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4

Hey you can buy in MIS and then change to NRML Later if you have equal sell positions

eg, buy hedges MIS, sell positions (Eg strangles) in MIS

Then if you have available margin to take naked sell positions, you can change couple of sold positions to NRML first using the convert option, then it will allow you to change the hedges to NRML since you have open naked sell NRML position

in simple words for an IC

  1. Buy hedges Atm+/- 500 in MIS (full qty)
  2. take sell positions atm +/- 100 in MIS (full Qty)
  3. Change eg 2 lots of sold MIS to NRML
  4. Change 2 lots of hedges from MIS to NRML
  5. Repeat 3 and 4 till it gets over

Although little time consuming, its worth the time if you dont want to move out for this reason

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5

Thank you for the responses…
What are viable options if I want to move out?
I need pledging, basket orders and good order executions for fno…

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6

For f&o you should try Finvasia/shoonya. They offer brokerage free trading which can help you save a lot on monthly basis if you are a frequent trader or trade in large amount.

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7

@Hardeep You can try Orbis as your clearing member. But as of now pledging wont work if you choose orbis.
But Zerodha is promising that they are in the process of getting their CP code as well. That would solve the problem of trading on pledged margin.

@VenuMadhav @mohitmehra
Folks are askng fot it.

How long will it take?

Ive been asking for it for six months now.

Please look into it!

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8

Thank you for your responses.
Orbis won’t work for me…
I need pledging.
I also need basket orders and good order executions…
I’ll look into finvasia as suggested…What can be other alternatives?
How is fyers, if someone has used it?

9

iam personally using 5paisa, it is best in my opinion after zerodha.

11

Much needed alternatives. The timing seems so right.

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12

It all depends on your taste and what you prefer.

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13

Reliability On Platforms At Same Price @247NH

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14

Yes please…reliability is important…

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15

This might help. You can do everything you want and still be a zerodha customer. Or shift to any of the other top ten brokers by users, will be more or less as reliable as Z.

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16

I thought had to mention what platform preference is yours, but you are right anyway.

17

Good evening…
As I requested earlier, I need pledging facility, basket orders for fno and reliable order executions for fno…
I have used 5 Paisa and angel one in the past, but my experience with Z has been superior to these…
But this OI restriction is literally killing me in brokerage now…
So just thinking of alternatives…
Like Z a lot…don’t want to go…but…I don’t know.

18

Check out tradejini
Similar UI to zerodha

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19

Close eyes and switch to SAS Online. No Angel, No One else

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I would love to know more about SAS online. Users please share your comments, experience and reviews about SAS online.
Also how is their customer support?

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21

Much better than Zerodha. They provide NEST Trading platform which all the 77000 FIIs use in Mumbai. Transparent. Zewrodha stopeed NEST & provides useless Kite. Even Groww, Upstox don’t have facilities like SAS Online. 1 word RELIABLE, rest UNRELIABLE