@MohammedFaisal Any updates on this?
So who all are coming back to zerodha for 0.04% per day MTF?
Maybe their cost of capital is high. Really disappointed though. All this wait turned out to be for nothing.
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But Noone Is Charging Less Except Bank Based Brokers
I didnāt know that, but still. Eventually theyāre competitors.
Loan rates are more similar than theyāre different despite the cost of capital being significantly different for different lenders.
So why should MTF be any different?
(This is just my take)
They Will Definitely Look For Revenue Source From Each Of Their Product, I Mean If NBFC Is Charging Say For Example 10% ,They Will Charge Extra Few %age To Meditate These Things, They Are Doing Business Afterall, But Anyway I Learned Somewhere That They Will Charge 0.035% Per Day But Now They Came Up With Higher Rates Thatās Disheartening
Wait until you hear Upstox MTF Rate.
ā¹40 for every ā¹40001 borrowed. That equals to a whopping 36.5% annualized. My credit card has lower revolving rate than this.
Great news! I opened angel one and Bajaj Broking only for MTF for swing trades. That said, Iām still using Zerodha for investing.
Hope MTF will be active on Zerodha and can wholeheartedly transfer for funds from others brokers and use them here for Swing trades. Since Zerodha is my first demat account and I remember I opened them by submitted the application personally to JP nagar office coming from Tumkur.
Finally canāt wait for the MTF to be launched soon! Cheers
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MTF is live for beta, if you want to participate in it you can DM me your id, for beta mtf is not allowed for single ledger and NRI accounts.
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@sn88, A charge of ā¹20 per ā¹40,000 borrowed is applied in slabs of 40k. So, if you borrow ā¹40,001 or ā¹40,100 up to ā¹80,000, you will be charged ā¹40.
Thatās why @thisisbanerjee mentioned ā¹40 for borrowing ā¹40,001.
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Oops, i missed Re1 extra. Thanks for correcting. % is better.
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Thank sir for activating my MTF. Took position few days back and the process is pledging is so easy compared to other brokers. But only thing is v need place the order from kite web and also exiting the position. I guess once this feature roll out, it will be available in kite app also.
Yes.
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It is really interesting to see that people are willing to pay 50% higher interest cost for MTF as compared to the lowest interest rate available in the market, just for using Zerodha platformā¦
This is astounding! however is it wise or foolishness varies person to person, but it really negates the old saying in stock market that the investors and traders should only love profit, if they want to make money.
There are platforms charging brokerage in % and there is customer addition every month. Why? There is something always which a group of user loves. It is beyond P&L. This is good for a healthy brokerage market. At present the platform usage are quite concentrated. Atleast Top 10 12 brokers should have comparable user base for a healthy market growth in future and lesser risk.
What you are saying is equally true.
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Let me quote about this , i did MTF swing trade in mStocck , being one of the lowest interest charging entity , but their integrity is questionable , they make pledging process not work properly while executing the trade and simply charge more then 18% on MTF trade by sendinga mail that pledging on CDSL is failed. Every one is expecting MTF facility in Zerodha will be good.