Although your question is meant for Z, thought of taking a jab at this since several years back when @Sensibull was not into existence, I used to think exactly like you!
Me have no one living in USA, but was pretty fascinated by watching YouTube for hours wherein I used to observe the westerners using the tools that you mentioned.
Anyways, I am not affiliated to Sensibull - just few words only - in case you haven’t tried their features, then you must, since they are the only provider in India who have accurately come this far when it comes to option trading. Have heard of IBKR too - but never used their products. I like to deal in monthly (occasionally weekly index) options - often liquid stock options and for my strats Sensibull is enough!
And please do not compare American and Indian markets. Our markets are still very nascent! Just a decade or so back it was confined to only a specific group of high class Indians. Thanks to cheap internet and discount brokerages, we retailers can howl now-a-days.
American markets exists for centuries, and they are the pioneers of free-markets since early 16th century after the Japanese. Evolutionary competition and massive participation has created a more liquid, free market demanding more sophisticated tools. Over 55% of American population somehow interact with their markets, ours not even 5%!
Having this said, there remains a lot of space for improvement for us and eventually things will happen but that’s
a factor of time…
To give you best example forget margin rule do you know about pattern day trading it helps a ton many people come to market they overtrade and revenge trade n eventually blow thier account PDT is such a rule which should be implemented immediately
With all due respect plz tell one feature in sensibull that is not available for free.
Also there are better (wayyyyyyyyyyyyy…) platforms out there with much much more features.
As a zerodha customers, we all want sensibull to grow. But you know, when cat closes its eyes and think world cannot see it.
If I start to refer to other platforms, it is highly possible that I may get banned. @Sensibull is audacious enough to block even paying customers in tweeter just because they praised other platforms.
@siva Reduction in margins for hedged option strategies is welcome step but the major concern is will Zerodha customers be able to take advantage of that? For Example we sell Iron condors 1.5 to 2 std deviation away so that POP is high but Zerodha rejects buy orders beyond a certain range in Nifty and Banknifty which in most cases is very narrow. Also there is need for basket order on kite otherwise there will be lot of slippage while trading multi-leg strategies specially in highly volatile underlying like Banknifty.
Agree with you . For purpose of saving new traders Zerodha makes policies which many time hurt professionals. Since most of stock options are illiquid it doesn’t make sense to block those ,may be block extra margin for them or whatever ,disable market orders but at least allow to place limit order on them or make a disclaimer on that .
I was not able to place sell orders on IndusIndBank 800 CE, 900 CE for next month (April) series when the stock was trading around 350 to 500 Rs. during 2nd half of March. There was a high premium for it due to implied volatility but system rejected sell orders.
There are other cases also for RBLBank 160, 170, 180, 190 CE for next month series when the current series was only halfway through. I observed this during 2nd half of April.
@nithin If we need to have full required margin for each leg before placing order as reduced margin will applicable only after placing the order, then how can I take advantage of this reduced margin. Please help if anyone can throw some light on that.
Then if in sensibull I place basket order with buying order on top and sell order below that…would that work assuming that there is enough liquidity and both order get executed?
Sensibull is not good. The application is damn slow. I have more or less the same functionality created over an excel sheet and adding more features in it.
