Comment on Zerodha - Margin Policies

AnilKumar commented on 20 May 2013, 04:15 PM

Hello Zerodha Team,

Thanks for responding!

By ‘evading answering’ I meant actually what it literally means. Same query was posted about 3 weeks back along with a query on algoZ where I also mentioned that Zerodha seems to be ignoring the basics. While answering that query you assured to get back on the margin query but never came back.

I always want to play by the rules. That is the reason I also want that rules are being enforced in spirit and the mechanism to enforce them is not faulty. Helpdesk at one time has said that I can rely only on margin statement. Now that is not just impractical (but unfair too), as positions have already been taken relying on your trading platform.

By ‘enough’ I meant that if I have funded my trading account with 500K, I leave 40-50K unused (at the close of trading hours) to provide for the market fluctuation. The positions are always taken with ‘NRML’ order type. But the strange and worrying part is that while your trading platform shows withdrawable balance of 100+K (at 3:30pm) and also the next day morning at 9:15am, your margin statement shows just about 25K. And, this keeps happening for many days for without any change in the underlying positions. Obviously, this is not due to extreme movements in the stock/index. Snapshots of discrepancies have been sent to compliance dept multiple times.

I strongly feel trading platform (at EOD) and margin statement should reflect the same status (except for situations like T+1 credit, ITM options and violent market movements in between). It would be worth checking your systems for bringing them in sync.

Anil Kumar

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