Comment on We are now the 3rd largest stock broker in India
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14 Apr 2018, 06:21 PM
I am not denying that Zerodha software doesn’t have good features, My point is that to be world class still Indian brokers needs to have updated features like Interactive Broker has. Zerodha needs to improve on its desktop software to be ahead in competition what we have on kite is not there on PI and it needs to be improvise for intraday trading or scalping.
Zerodha got larger client base because first of all it is discount broker and less brokerage and few advanced features but to be no 1 it needs to improvise a lot on software features to be world class and customer care.
(I am basically practicing intraday trading and hence have comparison on that basis.) Now a days many sites/brokers are coming with similar features and Zerodha needs be much ahead from them to be top in competition. also it should consider its services and compare themselves from world rather only in India. Though I congratulate them to gaining their position.
few points if you like to consider .
1, Customer care not support when we need it most. Like I lost my most of the capital on a trade where in BO order only Buy order executed and sell and SL orders cancelled because Zerodha’s lease line connection was dropped with exchange(what has been told to me by Zerodha support). After placing order it all freezes and when I saw issue, I tried 2 hrs to connect to Zerodha customer care with no success and then finally was not able to square off my position by myself but was done by Zerodha risk management team.
2. As I said Pi Software is lacking features in terms of kite. I know people moving on cloud but practically we need to have fast analysis of our position, stock scanning, fast entering of orders (with shortcut keys of course). Latest indicators etc.
3. Kite has advanced features but not that easy and fast to trade and to see charts.
4. combining everything on a portal rather different sites would be a much easier for user point of view.
5. Zerodha mention that they want to educate traders so expecting updates related to education on different plateform like intraday, scalping, technical analysis for short term trading etc more frequently then what they have right now.
But I should mention that Zerodha has one of best reporting for P&L, TAX, positions and light weight software. I don’t know if I am contradicting myself and how Zerodha will make its software light but powerful.
No1 position holder is charging much higher brokerage but actually what I personally feel that people trust on its services so far…..
I know I am not explaining in better way but I hope all experienced trader and even Zerodha should be able to get the point I am trying to make.
Not a complaint but advise…… 🙂
Regards
Nitin