Comment on Same day fund withdrawals & update on quarterly settlements

Shailesh Raval commented on 11 Dec 2019, 01:26 PM

“SEBI requires brokers to send back unutilized client funds from trading accounts to the clients’ bank accounts at least once every quarter.”

Can Active Traders have an option to choose when this unutilized fund is send back to our bank account? In other words, if we have such option, we can plan our trading activities and can make 2-3 days window available to zerodha so that zerodha can send back our so-called unutilized funds to our bank accounts.

Make sense?

At present, Zerodha randomly and arbitrarily performs this process without considering any adverse impact for traders. Active traders may get margin call and may suffer margin closeout if they have open positions and market decides to go against their positions.

Zerodha claims to have block extra margin amount but that may not be enough. And if such margin closeout does happen to you, you are the sole victim of the process which was there just to protect you.

I hope zerodha understands our pain and work something out to help reduce our pain.

thanks.

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