I would appreciate an honest review on Alice Blue.
I am not talking about exposure but about trust and reliability.
In my opinion, Zerodha is an honest broker and transparent and encourages risk management, but falls flat in terms of execution/ trade fulfilment.
Would you choose Alice Blue over Zerodha? If yes, why?
Thank you for the read.
John
Can you be more specific on this?
sure @siva
The greatest reason why I love Zerodha is the promise of a better trading experience as time goes.
Zerodha is a wonderful broker as far as positional/ swing trades are concerned.
As far as intraday, especially on event days, crucial market moments, zerodha is a rabbit in the traffic lights.
I understand you’ll are helpless and you cannot do much given you are a discount broker and user experience is not so important.
This is why, we traders need to use more than one broker… one for investing, the other for expiry day trading or even scalping.
As far as education and communication is concerned, it’s wonderful on normal days, but leaves traders very sorry on volatile days.
I am not complaining Siva… I understand that you cannot do much to change things.
What do you mean by discount broker? also if you follow social media closely you will notice how many times so called big/traditional brokers systems are broken in last two months alone. You can yourself check their twitter handles, if we are down by a minute we get more highlighted compared to others going down by hours.This is the fact.
How can you come to that conclusion, our sole aim is to create impeccable user experience and all our teams are striving hard to achieve that alone.
No one can guarantee 100% up-time, yes I agree we faced few times few years back but lately do you remember anytime you faced any login issue? unfortunately couple of months ago we hit one due to the system palced at exchange and nithin has explained it here.. This could have happened to anyone/ anytime with one in one billion probability but unfortunately we faced this,after which other brokers and exchanges took corrective measures. Also I have to mention here that we process upto 4 million orders in a day, maybe 20 to 30 times higher than so called big brokers and by far we are the biggest in terms of orders in retail in entire world.
Not boasting about ourselves by I have to say it and also I understand that you came to this conclusion based on what you see or hear in media but my point is others are broken for hours with out much attention just because we are too big to fail.
Thank you @siva for the swift replies.
I am encouraged by these replies but that does not answer my question.
Anyways, I have much respect for you as a broker but I have always been left put down when it mattered most.
I don’t doubt Zerodha as far as most things are concerned, but as far as knowing that my trading is in safe hands, Zerodha needs a lot to do.
To be honest, I have stopped trading in your platform for a while, especially intraday cash/ options.
Your reassurances mean so much to me but with every assurance comes the burden of accountability.
Honestly speaking I am not trying to run you down… I have spoken to you several times and you know I’m a thorough gentleman.
I will take your assurances seriously, if you feel there have been concrete steps taken to minimise latency issues/ order flow issues.
I do not wish to draw comparison with any broker, with an intent to defame Zerodha, I am only trying to clarify if AliceBlue is an honest broker. I know Zerodha is among the best in transparency, but at the same time, I need a different broker for intraday trading.
My apologies if this caused you to feel grieved.
Maybe he is referring to leveraging restriction that is placed on expected volatile days.BO/Co corders are blocked. Or maybe that limit on BankNifty far OTM options limit due to open Interest restriction of 15% laid on each member.
I know zerodha can’t do much in either case. @siva
We are doing everything of what we can, having backups and backups to that but there are lot other dependencies involved in this full chain of trading to have a smooth run, there is oms vendor, leased lines at various levels, limitations to bandwidths and line capacity, ISPs, exchanges,data centers etc break at any point of cycle can effect trading but most of these are out of our control and when shit hit anywhere in this chain clients get effected and assume that has directly to do with us. I am not passing blame on others but just letting you know the structure after-all client deposit money with us to trade and pay us the brokerage. I am reiterating that we have taken necessary steps and constantly striving on improving user experience.
Also can you say little bit more about latency issues? are you referring the ones which you faced couple of times when we have issues in the past or you are facing them regularly?
Right, we can’t do anything about these, 15% restriction is from the regulator.
No worries… thank you for letting me know. Such patient replies goes a long way in assuaging any fears.
As I already mentioned, I have stopped trading on your platform for a full six months.
In between I have placed test trades well knowing what I am trying to deduce.
So, if things have changed much in 6 months, then I’m really glad and happy for the Zerodha team and traders.
Sometimes as a trader, one tends to overlook the overall process flow and its domino effect downstream.
I intend to start trading with Zerodha with a bigger amount, in that case.
Much more than anything, I wanted to know if Zerodha cares, and I believe it does.
-ves…
+ves…
Very grateful to you for your time and input.
I am posting my experience with AliceBlue (2nd day)
Gives me one more reason to stick with Zerodha.
A pending BO left at 3.10 PM gets executed miraculously at 3.23 PM and the exit leg gets cancelled at 4.24 PM
Alice blue says that there was a rush of sellers and so they allowed my BO to execute outside intraday hours.
They say that the onus is on me to find a seller within the next 7 minutes.
After a long argument and a call back from a manager level customer care rep, I’m told that they will execute my exit leg tomorrow morning and that next time I should be careful not to place trades close to 3.15 and if so, I have to manually close them, to prevent execution.
In terms of politeness- AB is better than 0’dha
In terms of product knowledge- 0’dha is better than AB
@siva Have you seen such issues with Zerodha and how would it even take place? In fact the opposite holds true- legit orders placed during market hours fail due to tech issues.
Zerodha also unrelaiable I faced many situation were zerodha has let down in order execution, margin policy and stopping important features like BO when ever they wish… this is stupidity…
its all for your protection bhai , even if they allowed BO definetely its will hit SL , you will loose money continusely . all are for good only, cheers
I’ve been trading full time for 3 years now and have tried almost every discount broker on the market. In terms of web UI,UX, low latency (super fast market depth data), nobody even comes close to zerodha. In aliceblue your positions sometimes dont even show up. You’ll have to constantly log out, login, clear cache etc. I have a free acount with aliceblue, fixed brokerage plan with sas online and yet trade with zerodha majorly and use sas online only as a backup. UPSTOX UI is something I never understood. For scalping on a browser and not nest or any software, nothing comes close to zerodha.
I find Zerodha extremely unreliable with limit orders going through instantly as market orders, causing me to stop trading for the day.
No one will acknowledge the issue
If you are using Aliceblue, it’s the worst.
They converted a BO into CNC and I had to suffer
I love the kite interface but as I said it’s just show piece. A trading platform should be so reliable that you should have the confidence to scalp without fear