10% brokerage refund on referrals has also been done away with
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Zerodha and it’s services really sucks these days .
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How is it “silently” when they clearly mention it there? Also maybe they are losing too much money in brokerages? If they have the right to start such competitions they reserve the right to close it any time. Why to make a fuss about it and put it like they owe us this challenge?
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then are majority of traders ending up with profit after 60 days. that is fantastic.
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Had mentioned that people consistently winning 60 day challenge is very very less. Considering this statement, could you please explain why the money return component was removed? Was this really causing a dent on operational profitability?
Considering Zerodha has the one of the largest trader base (if not the top one) - I would be interested to know some facts and figures for this.
- Of the total trader base - usually what %-age register for 60 day challenge
- What is the median number of 60 day challenge participation among total client base - aka, how many times an average Joe has registered for the challenge
- What is the median win rate (number of 60 day wins/no. of 60 day participation)
- How many trader (I would guess <100) has more than 6-8 wins that trades on a reasonable frequency
@nithin - being a data guy I would really love to know this if it’s not a business secret 
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We were asked to stop this for regulatory reasons. This could be construed as scheme/league/competition, which isn’t allowed by regulators. Is it really that is debatable, but if we are asked to stop, we have to. We never advertised this for the last 3 years, so the participation was limited to only people who knew about it - less than 10% of our clients.
I will probably share a post on zconnect on all major trends we could spot with 60 day challenge participants.
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@nithin sir but ICICI markets something like pay only when you make a profit on intraday trades. is the regulator going to stop this for the largest broker in the country? If not, why the partiality?
@nithin @siva Is 60 day challenge closed only who try to opt after 25-April?
I am already in middle of the challenge & is to completed in few more days? Will I be eligible for refund?
Terms should not change in the mid of challenge! May be the benefit should not be given after announcement date, but not for the challenges pre-initiated. I may loss considerable brokerage amount if it is not applicable for me now. Please comment.
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Yes, for them who opted only from 25th April refund is not there but will issue winner certificates.
so i will be eligible for refund?
That makes sense. I had been very satisfied with clear communication from you and your management -however, closing down affiliate and 60 day program without much details was little off putting.
Thank you for your time - would wait for the 60 day stats on zconnect.
If no refund of brokerage then you need to add anyother reward such as no brokerage or nominal amt charged for next 100 trades or so.There will be no regulations on that. @nithin Could you do anything like that if money was not the reason you shut down the competition rewards? If there is no reward then the competition itself will have no meaning.Its not as motivating anymore.
@nithin @siva
How come Zerodha stop such challenges and other brokers still have it, with lesser time frame.
Fyers are running 30-Day challenge similar to zerodha, why aren’t they under SEBI’s scanner?
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https://www.nseindia.com/content/circulars/COMP33643.zip
https://www.nseindia.com/content/circulars/COMP31391.pdf
https://www.nseindia.com/content/circulars/COMP32988.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 it is a really small broker who is still not on the radar, maybe it will take longer.
Ok Ok agreed. But it also states that it should not involve competition medals etc. Why you guys still provide certificates? Close that down completely if you care so much about the rules. 
We have got clarification on that, by medals they mean to say 1st prize, 2nd prize etc. Which we don’t as part of 60 day challenge. 
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Aaaah… then let me tell you… this is not a contest in anyway… you are not giving money from your pocket to the winners techincally… its simple reversal of brokerage… not a bonus or any winning amount. And reversing of brokerage is your personal choice… if this doesnt work for you or as per law. You can set of particular winning brokerage amount with the future transactions on platform for winner after winning of particular challenge… that should be fine right? Curious for your reply on this. Do reply please 
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Like I said earlier, we were asked to stop this. We are regulated, have to follow what is asked of us.
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Smart!! asked to stop only the winning perk not the challenge… lol… everybody in India makes fool out of customer you are no different anyway… first closing time exit charges (by saying you need manpower to exit the order hence charging. reality is everything is automated procedure for system scheduler) and then this… you are aiming to be more and more profitable thats it… admit it… anyway if you would have been interested to keep the challange then you would have find out some way anyway… sorry if my words were harsh coz i cant stand fake justifications atleast
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This 60 days challenge is only to earn more brokerage from Customor by luring them…to trade more…so that you will succeed.