HUGE MARGIN INCREASE by Zerodha in 1 DAY

Zerodha
33

I tell you my problem.
I have a position in Finvasia, and only 37000 mnargin is used for MIS. For carry forward 79000.
I also have a position in Zerodha. I am paying 85000 for MIS and for carry forward 1,40,500.

Even if the stock is in BAN, it does not matter for people who have positions before it was in BAN. to carry positions to the next day, I had to put additional 90000 into the account. Whereas my position for the same BAN period stock is intact in Fivasia. No margin requirements were increased.

That’s all I wanted to say.

34

if that is the case then there is some serious problem with Finvasia…
and i am 100% sure we cant trade in f&o ban stocks in MIS

35

In MIS intraday trading, nothing is banned from trading as stock should be squared off same day. Intraday Trading in banned Future scrips is totally allowed.i think you are a bit confused.you may read one of my comment for this.What is FNO ban?

36

Zerodha don’t allow this, Can check this.

37

I know yes…but the discussion is not about zerodha and it’s rules I suppose …but trading in general…and therefore intraday trading in banned f&o is still possible till date… irrespective of whether zerodha allows it or not @siva

38

I want you to go through this new circular which came in to effect from this expiry, margins are dynamic and change accordingly with open interest along with volatility.
We charge as per exchange prescribes, not more or less, if some other brokers are not following that then we don’t have anything to comment about, if still you have any more doubts please ping me your ID privately, I can arrange a call back to explain you in detail.

2 Likes
39

Dude…these days we traders have lots of options and it is wise of you to having opened trading account with other brokers as well or else you would have never know the differences in this case…just compare and choose the one which fits your situation and needs the best … afterall both trading and broking is all business and always exercise your options and eliminate the rest which doesn’t suit your needs or situations…

40

Yes, buddy. I have trading accounts from Upstox, Finvasia, Wisdomcapital, Zerodha, Fyers, etc.
Have been using Finvasia since 3 years now and that too with 0 brokerage. Not even a single issue like this happened.
I still like KITE of Zerodha very much as there is no doubt that Zerodha platform is very good and easy to use.
I love using Zerodha. The only problem is that I mentioned about the margin changes to 140000. more than double in 2 days time. This is not acceptable.

41

Who told you that we can’t trade in ban f&o? If you have a position in a stock and it goes in ban, your position stays. You can only squareoff your position. Just squaring off trade is possible. We cannot trade a new position.

I am saying that I have a position in a stock before ban. Then on the ban date, I still maintain my position. But, Zerodha makes the margin from I guess 67000 to 118000. To not get out of funds, I poured money to maintain my oposition. Then another day they raised the margin requirements to 1,45,000.

I again poured money to maintain my Position. I have money and I can keep on adding till they keep on increasing.

Problem is to those people who trade based on the margin details and when 90000+ cost gets increased suddently the next day in the morning before 9:15, they won’t have money to put in the account…

Poof, their position would get square off as the money would fall less than the margin requirements!!!
A great loss for people who have limited money.

I am saying that I have a position in finvasia for the same stock. I am happy not to worry that margins keep on getting changed.

Other point: The gentleman said that we do not change margin requirements. It comes from the exchange. Could you please share us the link for the same?

Please share the link of NSE’s ANDHRABANK FUTURES MARCH margin requirements for CARRY FORWARD.

Same is low with other brokers as I mentioned earlier.

If you are right, I will apologize in this group.

Let me tell you personally, that I love using Zerodha. I feel that when we traders share the details just to make Zerodha more and more great!
I am sure Nithin will appreciate that our criticism is just to make our Zerodha platform better and better.

Thanks.

42

True that is…the better zerodha gets ,the more money we and nithin make💰 there is no self survival in this game for any broker , at least not for long…

43

Hi Siva, please call me tomorrow. Once this gets sorted out, I will appreciate and mention in this forum about the issue taken care very nicely. Thanks. skype: angelrishi

44

Please drop a mail to [email protected].

45

Siva, I must say that Zerodha customer support is amazing! Never seen any company match this that even at 10:24 pm you are actively replying! Bravo!
I will email you. Please help our situation. Thanks.

46

Last thing I want to say is that I read again the margin increase details by NSE’s link shared to me by your team:

If you are following this, then maybe your increase of margin might be a right following the rules exactly.

I am just saying that maybe every company has it’s own way to do business - but somehow I find the margin increase really a lot when I compare other brokers. But, if you say that it has to increase as per the circular, then we traders will have to accept it.

47

It really is appreciable…but team zerodha should really look more into addressing customer crysis during the trading hours when u guys are needed the most.especially in situations like yesterday and daybefore.I can understand it’s difficult to manage such a huge customer base but still u guys need to do something wrt.and we criticise you because we do love your job,afterall

48

…and please increase your employees for call&trade. It has happened many times that it takes ages to reach an executive. Many times I reach in time, but many times, it takes ages!!!

49

And please make sure that u don’t have any arrogant pot heads in your team ,like the one I talked to yesterday who really pissed me off…and evoked the outrage in me… because it’s really disappointing to bear arrogance when ur call is connected after 1hr wait and when u loose money not because of you…but I must also add that all my issues were resolved by team zerodha today ,though a bit late and the top management is really polite and humble…

50

ofcourse we can square off the postion , otherwise how can OI will go down and come out of F&O ban ?
by trading i mean , intraday trades…

google about the recent margin requirement when the stock goes in F&O ban …

that is true for carry over trades … if it is not , you share any proof otherwise …
**
you said you have position with Finvasia , can you share the margin statement ?**
In my previous post i shared the margins required in 5paisa and samco …

you really dont need to apologize to anyone … nothing wrong in it , and it will clear others doubt as well

51

i use to trade in anand rathi earlier … they dont allow intraday f&o trades on the stocks which is in f&o ban …

52

Yes… things are different for different brokers and that’s what brings us choices