Why zerodha charges more brokerage?

In your website you told "“Brokerage at Zerodha is Rs 20 or 0.01% whichever is lower per executed order".

But I am attaching a screenshot for 3rd November (this is not the first time I can send you more than 10 examples where you charge more brokerage) where you charging brokerage Rs 140,

Now you tell in your previous post (Check this post http://zerodha.com/z-connect/zerodha/bulletin-latest-at-zerodha/lot-sizes-reduced-for-various-nse-fo-contracts)

 hgdgj

If u buy
nifty of lot 50 assume it will trade 25 once then 25 totally how much brokerage u will pay


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    avatar

    31 Oct 2014 at 05:27 AM
    Nithin Kamath

    Still Rs 20, we charge per executed order and not trade.

Then why in my case its Rs 140/-, it should not be even Rs 40 (Rs 20 + Rs 20). Because my total valuation is Rs 41601.25, so it will be Rs 4.160125.

And I am attaching screenshot and again I say this is not the first time you have charged more brokerage every time. I can show you screenshot if you needed.



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Zerodha not charges more RS.20 per executed order.

In your case, only two things should have happened.

  1. You could have placed 7 different orders.

or

  1. You could have used bracket orders. Even a single bracket order placed can be executed in different orders. Bracket orders charged this way differently. Check zerodha blog for bracket orders information.

Zerodha specific questions will be answered if you mail them at [email protected]

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Arijit,

Copy pasting the same from Zconnect. This is the same way we have been charging from day 1 of our business.

I guess you have some confusion.

We charge Rs 20 or 0.01% of the contract value per executed order. If you buy 1 lot of 8300 CE at 150, the contract value would be (8300+150) * 25 = Rs 2.1lks. So unlike what you are thinking contract value is not 150*25(this is just the premium value). I am looking at your order book and you have placed 7 executed orders each with a contract value of more than Rs 2lks. Hence you are charged Rs 20 x 7 = Rs 140.

Hope this clarifies.

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Yes… I too think zerodha is charging more brokerage now a days…

Its not only now a days, its from begining, we have not noticed that.
Reply from Zerodha Support, its totally opposite wht Nithin Kamath say in this thread http://zerodha.com/z-connect/zerodha/bulletin-latest-at-zerodha/lot-sizes-reduced-for-various-nse-fo-contracts#comment-14587 (really confused, who is right and who is wrong, you guys charges brokerage more than you mention in the website)
– do not edit –
Zerodha
Dear Arijit,
Thank you for writing to Zerodha Support.
For options the Turnover is calculated as Strike Price + Premium x Quantity, so for your trade it will be (the lowest we will take) 8300 + 134.90 x 25 = 210872.5, so if we calculate it as 0.01% it will come to Rs.21.09 and we charge 0.01% or Rs.20 whichever is lower, so it is charged as Rs.20 for your option trade.
We see that you have place 7 different trade and not single order for all the trades, so it is charged Rs.140. Kindly check the attached contract note for more details and check the order numbers. If you place for 50 qty and the order gets partially executed as 25 qty and 25 qty, it will be considered as only one and charged Rs.20 and not Rs.40.
Do get in touch with us if you have any other questions or concerns. You can always visit http://www.zerodha.com/z-connect to learn more about our products and services. Check out http://www.tradingqna.com, India’s only Q&A website for trading.
Regards,
Team Zerodha
To view/respond the ticket online, please click here
Zerodha © 2014 - 175/176 2nd floor, Bannergatta Road, Bilekhalli, Bangalore 76

Exactly my point, I can bet he used Bracket Orders, without knowing its consequence.
Now that Nifty lot size is 25, 150 units are nothing but 6 lots and while selling again 6 lots,
Total 12 lots x 20 = 240 rupees also is possible to get incurred as brokerage charges
I think better Bracket Orders should be avoided.

Cover Orders are better in a way, since they execute as a single order charging 20 rs for Buy of 6 lots and 20 rs for sell of 6 lots, total 40 rupees.

IMHO, NRML is the best for options buying.

yes sir same happened with me i was charged 320 Rupees as a brokerage charge…

They are charging more ,my roommate having different broker charging less.If I make meager 150rs profit also in CO,130 is going for all charges and in remaining money half is deposited.

I also observed that Zerodha has been charging too much of brokerage & other charges compared to other players. The funny part is, even if I’ve got profits in the trade, overall I was always into losses due to this high brokerage & charges. I’m fed up now and a big bye bye to trading on Zerodha till the time they revise the charges at par with other players.