Hi Has any one Migrated to Orbis Financial , due to strike price issue ?
If yes how is your trading experience , and anything important to note.
The migration to Orbis will allow you to trade all strikes of Bank Nifty and Nifty throughout the week. We’ve helping few of our clients to shift to Orbis at the moment. This will reduce our OI levels which cause the trading range restrictions. In this setup, while you continue to trade with us using Kite, your trades will be settled by the custodian, in this case, Orbis.
You need to open a custodian account with our partner, Orbis Financials Limited, which we will help you with. If you’ve received a call from our team and submitted your documents, we will get the ETA for your account checked. You can DM me your client ID and contact details.
Although you will still be able to use Kite, there are some restrictions:
- The Orbis custodian account can be opened by Individuals who have a net worth of at least 1 crore.
- Only F&O trades are allowed in this account.
- You will not be able to pledge holdings for collateral while trading.
Due to the restrictions, only some of our clients might be able to shift to Orbis. However, once these clients have been onboarded by Orbis, the problem will also be resolved for other clients as well (since the overall OI levels at Zerodha would reduce).
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Hello @mohitmehra & @siva I was migrated to Orbis few days back & during my migration i was told my brokerage fee will be waved off for 1st month. I wanted to check if that waved off money will be credited back to my account exactly one month after we moved to Orbis or is it on the month end?
Also will we be intimated on the brokerage fee reversal through email? Spread some light on this topic. Thank You.
Hey Abhijith, at the end of your first month with Orbis, the brokerage charged will be reversed. You’ll be able to check the balance in your Console ledger. We’re running the refunds around the middle of the month for all clients who’ve completed their first month as on that date. The last refunds were run on September 15th.
@siva @mohitmehra
I migrated to Orbis recently from then onwards I have observed many problems
Today the avg price in my positions shown wrong so my total P/L displayed wrong.
When I contacted to customer support in the morning they said like they are troubleshooting the issue but till the end of the day they did nothing.
They said like orbis clients will be connected to customer support quickly but I waited for 17 min on call but still not connected.
As I’m addicted to zerodha I migrated to Orbis…but in recent times the customer relation is not good.
Hi Laxman, could you DM me the other issues you’ve faced? We’ll have this checked.
how will i withdraw my brokerage reversal from zerodha…as withdrawable balance always remain -ve as charges are deducted daily @mohit
Hi Mohit mehra,
If we move to Orbis can we buy Far month contracts like next year June 2021 (Leap options)?
Does it cost anything extra? Like increase transaction charge or clearing charges?
Any plan in future to allow collateral margin using ORBIS?
I have submitted my Orbis migration form on Dec 11th, have got no response so far. Can someone let me know by when can i get a reply
Can you give ticket number?
Ticket #20201204666864
Thanks
submitted my google forms to move from Zerodha to Orbis on Dec 11th. I have not received any communication so far. I have raised my concern and shared my ticket number on tradingqna aswell, but no one responds. It is concerning to see no response even before opening the account. Not sure how the support staff functions at Orbis. Opening a demat and trading a/c is faster than enhancing an existing zerodha a/c on orbis. Can anyone respond atleast on the status. My ticket is #20201204666864 Thanks
I can see below message to your ticked posted on 11th itself. After that there is no reply from you.
Why don’t you reply to that ticket saying your issue.
I did reply my ticket number as requested by you. There has been no response atall from any of you…
Can you give ticket number?
Here is my ticket number again Ticket #20201204666864
I have posted above reply for that ticket only. Why don’t you go to your email and check last response to that ticket.
Why dont you reply on this forum itself as you have done for previous queries, you could have atleast mentioned to check mail on this forum, how are we to assume that you have mailed the response. Either mail responses to all queries or respond here. It is quite confusing otherwise…