A correction will happen and things will get back to normal - businesses charging a fee to offer a service.
I hope that happens soon.
We believe that people use us because our product is superior and not just the fees. But 0.5% with us and 0 at someone else won’t work. Hardly any will be ready to pay 0.5%
There isn’t any other broker in India with a usable stack like Zerodha. So, even if you start charging quite a few will stay.
My dad still pays 0.25% (one side) for his trades with an old school broker. He calls his broker whom he knows since decades, talks about politics, market and some other random stuff and then places an order. Same stuff happens when he wants to sell some shares.
I have setup a Zerodha account for him and he likes using the app, yet over 90% of his portfolio is still with that old brokerage firm.
Hardly any will be ready to pay 0.5%
I pulled that 0.5% number randomly Is that close? With all those complicated products gone, fewer engineers (< 30) will be required. Fewer RMS people will be required. And removal of BO/CO/ Other complicated stuff, fewer support queries will be raised.
Will a brokerage firm charging a flat fee (say 12k a year) be operationally viable? A lot of us pay much more that annually to products like Github / Basecamp / AWS, etc.
If the concern is safety, I don’t think you should be bothered with us, like I have explained in the original post above (have updated it now).
I ain’t concerned about safety. Just wondering if there is a market for niche premium brokerage a la Apple / Basecamp.
@nithin
Hi Nithin,
Such a mismanaged and unfortunate case,only good thing…I could interact with you directly.
In between, based on facts available…Which we know :
Trade hours were reduced
Indian exchange does not have negative pricing strategy
It is not at all acceptable to settle price in such a way, market was closed at 965 and this is the price , settlement should be followed.
People can come up with some rules of exchange but that all void once they made changes in timings of trade hour and again negative pricing is not part of indian software.
I clearly ask for refund of my amount !
Another question, why zerodha did not get involved in petition filed in high courts, please clarify.
Moreover, please share your official email id, so that I can have proper communication and resolution rather on this open plateform.
Hi Nitin, I am one of victim of crude failover and lost Rs400000 and don’t know how to explain my situation as I have no money and to pay for no reason…
Is this fair to customers when most of the items were not proper Trade timing, close price etc .,
Then we can trade only in international trade systems. Why indian systems are mirroring nydex. They are doing physical delivery, can this be implemented here too, so we can mimic. You should have join raising issue in court.
If company is separate, why both equity and commodity accounts blocked and not allowed to with draw…
Think of poor retail investor like us.
@mchinnansm i am feeling very bad of your loss made, firstly you want to understand about the risk of futures ,
Futures is always risk on taking overnight position , without hedging we cannot trade a future contract to carry forward in any segment , first of all read about BLACK SWAN event ,
In my First mentor explain in DUBAI to me , - If you Trade FUTURE you don’t have a FUTURE ,
I still following the rules in trading ,
What has happened is unprecedented and unfortunate. The exchanges have already paid out to the counterparty, there is going to be no refunds. All the international exchanges which were open but couldn’t allow trading in a negative value also settled at -$37.
We are part of the commodity broker association and we are trying hard to see what can be done. But our lawyers have very clearly said that nothing will come out of going to the court. But, we will still try. Like I have explained earlier, our Rs 10 crores have been already debited by the exchange on behalf of our customers.
I remember the another Monday crude black swan where crude opened around 1000 points down, for no reason people longed on friday just because the prices were low and burnt their fingers.clearly i see psychological things take over them than the real picture.i was able to save some but how can we save everybody im confused that should i work with individual traders or with brokers to support their clients.individual traders no matter how sure we are they never listen up.
That means my extra account amount of 1 lac already deducted and now showing still minus 2 Lac in negative balance. I bought for rs 2450 now -2884.
Total 550000.
How you are going to help me to clear my burdens.
charging interest on top of that.
Anything can help me like payment nullify, Pro rate basis, emi for 2 years. How I can survive with this.
I don’t believe this , This is a wrong assumption , I traded commodity futures too in the fast , One precaution needed is to have the (net worth) money/ capital equal to 1 full contract value , if one is trading 1 lot of future at least.
Brokers association should now put pressure to incentivize hedging. You have not done that for a long time…
Unless you are dead serious about getting that done… People will continue to trade in futures… And futures are inherently risky due to blackswan events…
Please push for speedy implementation and also… Further reduction in margins for hedgers.
If options market world wide has the highest volume… And obviously is the biggest revenue generator for brokers … Why are you so late to push for this… Not blaming nithin or Zerodha… But the broker community as a whole failed to act for so long…
Really appreciate your response, but it is a Mistake from exchange, why they did everything in such a hurry by ignoring each and every fact !
When zerodha blocked all payout for a day, probably other brokers too, why not for longer till proper and justified solution, why everything concluded in such bizarre manner.
It is not just a small case, people who suffered with this may have and further go for their life losses.
I requested your official email please , I don’t want to discuss everything here on this open plateform please.
And they are just delaying that in stock Options… The margin benefit that they said they will give from 1 May is still not as good as US… But I agree with you @the_rock, implementation is surely the need of the hour. In fact implementation of this will be a better measure than any other that Sebi has taken in March.
Is that close? 
With all those complicated products gone, fewer engineers (< 30) will be required. Fewer RMS people will be required. And removal of BO/CO/ Other complicated stuff, fewer support queries will be raised.
, I don’t want to discuss everything here on this open plateform please.