I think I need to keep a backup trading account. I don’t want to go about how the Zerodha system is stable/unstable. Would be great if you could name one other broker with all pro/cos. Just see if they wont log you out of live trading session, and say ‘system under maintenance’ or get locked when volatility increases, or your AMOs wont be executed or send you message at 9:05 about no-AMO and a followup SMS at 1.05 PM!
Thanks and if the PARROTS are seeing this post, you won’t see it, will be DELETED.
Hi All I just saw details. If the Internet connectivity is not good then no software will work properly. However ODIN is the best software or even as i see web based platform of zerodha. KITE is good did u used it.
Free Demat and trading account opening.
Truth: they will charg ₹199 for POA. POA charges are their own invention. So in reality opening charges are there.
No brokerage - absolutely.
Truth: They have very different model of generating revenue.
Here upstox zerodha give 14x normal leverage and upto 20x in BO, CO.
But in Finvasia, they give only 10x leverage. For additional leverage thay will charge interest at 18% pa.
Say you have 1 lakh in account. scrip LTP is 100. So in zerodha you can take position upto 14 to 20 lakhs. but in finvasia if you take a postion say 14 lakh. you will pay interest on additional 4 lakh(remember 10 lakh is free).
Which is nearly 200 rs per day
I have opened another account with upstox. I have opened it considering following two reasons:
I am trading in equities for few years and I have been learning options for few months now. I just wanted to start options trading with small amount and wanted to keep it separate from equities. Since zerodha does not let you open two accounts I was searching for second discount broker.
I wanted to test some strategies using historic data and upstox developer API is very cheap. 750/- per month as against 4000/- for zerodha (2k for basic and 2k for historic data). (Account opening just costs ~500/- at upstox so I am just arbitraging expenses as well )
When I was doing MBA, my finance teacher said he dont trust discount brokers and advised me to use full broker but looking at cost of trading at full brokers, it does not make sense.
Also, zerodha has better risk control and they don’t provide margin to users (its provided by IL&FS) so zerodha has much safer, I dont know about upstox