Option chain in kite

[Vij]

I am also going to move some to fyers. No point troubling the nice guys at Zerodha. They have achieved a lot and now are in relax mode.

I don’t think its fair to badger them. So peacefully moving out.

[Jason_Castelino]

I was actually checking out features of fyers today. But for me the major problem is transfer of stocks. I have to close all my positions here since i have pledged them for margin. It may easily take more a month for me to completely shift my holdings there.

[TradeB2B]

i done slowly slowly , whwnever i have free margin like 5 lakhs , i will unpledge and i am transfering those securities to fyers

[Jason_Castelino]

I will need more than 4 months at this rate

[Jason_Castelino]

Plus I guess. There are transfer charges also. Not sure of the exact rate. But I think its 0.25 percent. So am wondering is it really worth.

Edit: Just checked. Its 0.03percent. Will do my math very soon and start transferring.

[CoolBird]

@teenscm @TradeB2B thanks a lot for the info. Is the transfer of mutual funds from coin to fyers online via cdsl? how many days does it take…when customers start moving out of zerodha they would wakeup like what happened with icicidirect

[teenscm]

@CoolBird

how many days does

It takes a day for the transfer.

[CoolBird]

@teenscm

no cash component required for overnight FNO.

@nithin @siva how come there’s no cash component required with other brokers for overnight positions. i thought SEBI’s had mandated 50% of overall margin in cash component…pls clarify…thanks

[MohammedFaisal]

@TradeB2B

1-pledging member wise limit ( securities rejected to pledge )

These are restrictions put in by the exchange on brokers. We have escalated this to them and they have increased limits on a lot of popular ETFs from Jan 2022. Our list will be update tomorrow evening and you should be able to pledge them.

@TradeB2B

2-No option chain for option semeeless trader

We have option chain on both Kite web and app and are working to optimise this further so that you don’t have to add individual scrips to the market watch and much more.

@TradeB2B

3- option strike freezed (not allowed to trade )

We have this restriction on Nifty and Banknifty to ensure that we dont hit the SEBI restriction of 15% OI per broker. However, there are no restrictions for option buy for hedged strategies.

@TradeB2B

4- DPC charges 20% + very high , its higher then personal loan
5- cash component 50% accurute to be maintained ( I dont know how its possible )Zerodha is silently taking money from our account

It was 0.05% per day or 18%/year, we have reduced this to 0.035% per day or 12.7%/year from Dec 2021 if there is a shortfall in the cash component for collateral utilised F&O positions.
Regulations require that 50% of the margin can come from collateral and 50% from cash which, if funded by the broker can charge an interest fee on it. Most brokers charge in the range of 15-24%, the ones who don’t recover this from higher brokerage, etc

@TradeB2B

6- Can’t sell pledged shares directly before unpledging.

This is in the works and will be live in the coming months.

[nithin]

@CoolBird

@nithin @siva how come there’s no cash component required with other brokers for overnight positions. i thought SEBI’s had mandated 50% of overall margin in cash component…pls clarify…thanks

Mandatory 50% cash margin rule for trading impacting the pledged collateral margin trading

if this 50:50 rule has been there already, then how come few brokers are able to by-pass this rule? I do have a trading account with an another broker where I have only pledged equity MF and I use entire 100% margin amount for f&o intraday and overnight positions.