Can we have blogs on how brokers work. Such information is not given by many and in India no information is available.
As tech person, there r many who read zerodha tech blogs. We love if more information on backend and working and systems of broker information is given
Dear @nithin
If we have margin, let’s say Rs 3,00,000.
And I want to sell following PE:
Abc Ltd (margin required let’s say Rs 1,00,000)
Bcd Ltd ( as above)
Cde Ltd (as above)
Efg Ltd ( as above)
Fgh Ltd (as above)
Total margin is Rs 5 lacs, then only 3 orders gets placed (not executed, assuming limit order) and remaining 2 rejected due to insufficient margin.
But one can easily put all 5 orders with GTT order. There is no shortfall of margin till gtt order tigger.
Can you provide this facilities to even normal limit order also, i.e. all 5 orders placed at normal limit order and when any of 3 orders executed, the remaining 2 orders get cancelled.
Thanks
@Nsingh
GTT was introduced due to the limitation in the first place. Now you are asking for the exact opposite.
Remember, GTT orders exist on Z server, while L/SL orders exist on the EXCH server (Exchange orderbook).
There is no way to control risk once order is on Exch servers.
As per existing Margin rules, what you want is not possible.
Considering bringing steak and tijori into zerodha for free of cost.
Many brokers offer fundamental check like revenue also in there app. While we have to buy subscription of these apps separately and use it
What Chirag mentioned is correct. GTT isn’t technically an order, it is more like an alert that triggers an order. Hence the margin required is only when the order is placed. In the case of normal orders, it has to be placed on exchange and it can’t be done without sufficient margin.
Streak scanners are free for Zerodha users. Backtesting and taking strategies live is hard to make free as the cost of running backtesting or keeping strategies live is quite high. There is a lot of computing power required for this.
We are soon introducing Tijori on Console like a widget and a timeline. Give it a few more days. All the basic info will be for free and the charges will be only for those that are available exclusively on Tijori.
Thank you for the response.
I only do fundamental analysis and long term investment, I use number of websites and brokers just to check fundamentals.
Just a suggestion, because many people I know have to use third party just to get information of economics of share.
Even simple integration of ticker tape is also good. Not pro one.
Below is fundamentals.
We’re working on something. Give us some time.
@nithin - this is truly appalling. The team doesn’t respond on tickets, or here. I’ve beed paying DPC on upfront margin penalties but then on some random days also letting my positions get auto squared off. Your systems all are flawed and if you’ll go through the above thread, would realise neither your team has any clarity on what is upfront/ non-upfront margins.
High time you guys start hiring competent people for critical work streams, rather than giving the culture excuse for not hiring from top colleges. I’ll gradually move to another broker soon (you couldn’t care less I know, but you should still do it for your other traders). Also I know this industry is full of crooks, but at this point of time I’m just trying to avoid hypocrites.
Had a lot of admiration for the work you guys were doing, but have come to realise you’ll are no different.
Hi @abcd5662
Sorry for not matching up to the expectations that you had from us in this case. Getting this checked with the team on a priority basis.
I believe your refund had come through or at least it was going to at the time. I had the same issue, and despite pointing it out, nothing happened in my case.
Had got Nithin involved, and the Zerodha representative from this forum had said it was being “checked”, that was 5 weeks ago…
And before this, had raised this issue in June as well…
Hi @SachinSingh
Getting this checked. Team will sort this out and give you an update over the ticket. Sorry for the delay.
Lol, I remember seeing an interview where he was explaining why they don’t hire from IITs & IIMs - because they don’t fit in culturally. Why? Because, he specified, they question growth prospects and ask for money. Turns out being money minded doesn’t go well with India’s 40th richest entrepreneurs. Reminds me of what our hon’ble PM once said: “Maine kaha, hypocrisy ki bhi seema hoti hai”. I feel you need them more than they need you.
Just to be clear, I don’t think all smart people go to top colleges, or that all top college graduates are great problem solvers. It’s just a comment on this mentality that would rather have a team of people who’ll not question you when you buyback shares at a valuation of $1B of a firm that industry people are valuing at >$5B, than hiring aspirational people with a growth mindset.
Disclosure in case the above observation seems personal: Later this year, I’ll be graduating from one of India’s top B schools. In fact, it’s just a stone’s throw away from Zerodha’s HQ.
Yeah exactly. Have seen them mention this thing about having a small team or not hiring from top tier colleges in multiple articles etc.
It’s not really the flex they think it is…
While Zerodha’s initial innovations were groundbreaking, their current pace of feature implementation seems sluggish. Everything in life is relative, right? They may have been the best a decade ago when competing with dinosaurs like ICICI and HDFC Securities, but I don’t know that time period. I have never used those websites. When they emerged, they were pathbreaking. Then, they continued with slow but steady innovation, which was fine. However, the same comparison is a double-edged sword. New-age brokers (like Dhan) are surpassing them in UI and faster feature deliveries.
The main factor keeping everyone loyal to Zerodha is that there hasn’t been a significant price disruption like Zerodha did to the oldies. The new and innovative feature set of brokers like Dhan is not sufficient to pull away the trusty old clients of Zerodha. The zero-cost brokers (like Finvasia) are too unreliable. I don’t think a price disruption is currently possible, which is in Zerodha’s favour. But If Groww, Dhan, or Fyers introduced a flat monthly plan, then combined with their features, it might just be enough to cause a swift migration away from zerodha.
Don’t doubt for a second that people are not taking notice. Having an extremely small team in 2019 and maintaining almost the same in 2024 is not a flex. Paytm Money for mutual funds 3 years ago was ten times better than the app that Coin is today. Coin gets the job done, but Paytm Money (as it was then, for mutual funds only) looked beautiful with many features, graphs, and sections. Even today, I would use Paytm Money if I didn’t need to pledge funds with Zerodha. When I feel the need of browsing mutual funds and comparing their performance with peers, I instinctively open Paytm Money.
Why is Zerodha proud of allocating one guy to an app and creating an app that just gets the job done? It’s like swallowing mashed food through a pipe because the purpose of food is to keep you alive, right? Why not do more? Don’t apply higher logic to things like XIRR, which took forever to bring because of XYZ philosophical reasons.
Consider bringing in more people. Consider faster development times. Consider more people on each team. Your team seems overloaded. Why is it so bad to significantly increase the team size? It can be cut down later if it’s not helping. Having a smaller team, disappointing many clients, and losing clients is a much worse outcome than potentially letting some people go because they’re redundant. The second scenario might not even happen, but the first is occurring.
I can implement features i need via api anyway, so stability is the main factor for me by far.
Pledging options too. And the fact that they make plenty of money and have capital to spare which reduces broker risk.
From past experience, small brokers start facing execution issues once their client count starts rising rapidly. Has happened too many times.
Charging brokerage is much more transparent vs hidden costs like pledging restrictions and similar. Eventually, zero/flat brokerage brokers will have to find some way to make money.
No idea on development team size, but i would strongly prefer that they take extra time to make sure things are stable before deploying it for all. ( something like their in house OMS ). Perhaps have some sort of beta links for those who want to try new stuff out - Interactive Brokers does that.
Exactly, its high time Zerodha need to pivot their strategy before its too late.
Everything seems to be in your favour until one day something disruptive innovation comes into the market, be it an existing or new player. Sebi comes with ease of transfer to mover your share/mf to other platform/brokers.
Lets say Jio+Blackrock + Jio Financial are already on it, they come up with zero(literal) fee strategy (why not they did in Jio case/ deep pocket) here they have BLACKROCK too. Jio is a household name, the amount of people they can onboard will be immense.
Too keep valuation of the giant consistent, they to need to re-deploy their revenue. Invest in team(real assets) in any tech company, Yes Zerodha is just a tech company solving problem of stock market and its area.
@nithin is owner of the Zerodha, it is his brain child company. More than us he must be thinking about it, sticking to his philosophy have took him so far and may he go more.
As a customer we acknowledge the efforts zerodha team is putting in to solve as many problem as they can. I believe they are not in any race, but time might race against them once something disruptive happens (hopefully not, I have my lifetime saving in zerodha)
While typing I realised Im writing doomsday story 
, well duopoly will always be welcome and being with best or second best is always safe (think about time zerodha have sailed through these regulations in such large scale 
)
If you have used thise 2 above mentioned apps then shed some light on your experience with them.
@Stonecold
Zerodha keeps it simple with essential features and excellent optimization. On the flip side, Dhan packs in a ton of features but falls short on optimization, dealing with quite a few bugs and glitches. If your goal is straightforward buy and sell orders, either platform works fine.
