Zeeodhas initiative of 60 days challenge was a commendable efforts. This challenge motivated us to come up winner at the end of 60 days… but unfortunately due to exchange regulations zeeodha has to discontinue this challenge wherein they refund the brokerage upto some limits.
@nithin , zeeodha can re introduce this challenge with a modification where in there may be no brokerage refund but instead giving client free brokerage trades of the equivalent amount like they offer during muhurt trading…or they feel some other ways and doesn’t comes under exchange regulations.
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We had tried to figure all alternate ways. We were asked not to have any kind or form of competition.
https://www.nseindia.com/content/circulars/COMP31391.pdf
Point number 26 of Annexure II states this point:
It is just a matter of time that everyone is asked to stop it, if someone else is already doing it.
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But this circular was issued by NSE in 2015, why did you wait for 3 years or why did you chose to implement in 2018? I believe this circular was against SAMCO running trading competition on channels.
We didn’t do it on our own. We were asked to by the exchanges during an inspection.
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Please introduce alternative for brokerage refund which does not come under exchange regulations but benefits trader. @nithin
Fyers is still having 30 days challenge with brokerage refund. Wonder how they are able to continue still. Don’t the same rules apply to all brokerages
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