60Day Challenge Yearbook and Reduction in Turnover Charges – Sep 17, 2013

September 17, 2013

Traders,

The objective of the 60-Day Challenge is to be a constant reminder that we are all in this business of trading to make profits and not just for the heck of trading. The profitability of our clients during the period of the challenge has notched up considerably (over 60%) and this has given us an added incentive of continuing the challenge until December 31, 2013!

 

We have been profiling some of our special winners who have made stupendous returns in the challenge and getting them to share strategies on Z-Connect to help us all grow as a trading community.

For all those who think there are no profitable traders, here is a list of over 400 winners from the first installment of the challenge. If you are a winner and don’t appear on the list, write a review, upload your photo and send an email to [email protected] to get yourself featured on the exclusive list.

Thanks to all your support, we have been able to grow our business in terms of volume on the exchange even in an environment which has not been conducive to the brokerage business. We have reduced transaction/turnover charges by up to 25% on all exchanges and all segments effective today. The reduced charges are updated on our brokerage calculator.

If there are topics that you want us to cover on Z-Connect, do send your suggestions over to [email protected].

We are looking at launching our revamped website with a couple of very interesting tools for all of you by Diwali this year, will keep you all posted.

Happy Trading,

Nithin Kamath

CEO @ Zerodha and partnering startups through Rainmatter to help grow and improve the capital market ecosystem in India. Love playing poker, basketball, and guitar. @Nithin0dha on Twitter.

17 comments

  1. Mandar says:

    Trader’s knowledge is very practical and personal. however, if people (especially winners) can share what has worked for them, it can be a great insight for those who are yet to hit the winning ways. towards this, can we set-up a monthly/bi-monthly connect program – where people can come together in a conf room/ webex and share there experiences?

    i know z-connect is an effort towards that. but interactive medium like face-to-face meetings or webex can be more effective.

  2. Das.Fuhrer says:

    Never knew you guys could delete my comments that’s very cheap.!!!!

    • Nithin Kamath says:

      Das,

      The main purpose of this blog is to educate our clients on various aspects of trading business at Zerodha and markets generally. You would probably appreciate that we can’t have discussions on other brokers on this, we are running a business and can’t run promotions for others.

      Hopefully you will understand this,

      Cheers,

    • Das.Fuhrer says:

      I wasn’t promoting anybody….As I said you guys are really good but need to bring some unlimited plans….Then no body can beat ya guys down…you’ll soon be Number 1…Wish all the best to Zerodha…thanks

    • Nithin Kamath says:

      Das,

      Thanks for understanding and wishes.

      You are looking at it as a client, we as a business feel that unlimited trading per month for a fixed fees is a flawed logic and won’t really workout for the business in the long run. The idea is to have a business that can sustain and be profitable so there could be many other things that can be done.

      Discount broking across the world works on a fixed fee per trade, the reason is because in today’s online world, the cost of executing a trade doesn’t go up with the size of the trade. Since the cost doesn’t go up, we charge a fixed fees.

      With the unlimited plans, it is like saying that cost of a client doing 10 trades a month and 1000 trades a month is the same. It is a flawed logic and this business model in broking hasn’t worked out anywhere in the world.

      Again that is our personal view and you might disagree.

      Best of luck.

  3. ArunK says:

    Thanks Zerodha for sharing the benefit of increase in volume to us in terms of reduced turnover charges. Good move! Keep making such changes 🙂
    -Arun

  4. Vijay22 says:

    Thanks for reducing the transaction charges. Could you post the new transaction charges for the NSE segment? I believe its 0.0039%, but I came up with that on trial and error.

  5. seenu.ii says:

    Dear Nithin,
    You list is not displaying? when we click on the winners list hyperlink, its trying to open in new window and saying Please Wait.. but it never showing list in all the browsers. Any other way to see..?
    Regards,
    Srinivas

  6. Jegan says:

    Nithin,

    Zerodha had mentioned that 60 day challenge winner may get these benefits (brokerage refund, star trader in opentrade and protrading).

    I had been winning 60 day challenge consistently and got my brokerage refunded. Heard that will be star trader again once new reporting tool crux is ready. Thanks for your support.

    However it is not clearly mentioned how I can participate in pro trading. Can you throw some lights on it? I called customer care, but did not get clear information.

    Congraz for completing 7 years and doing wonderful job.

  7. Mayur Chavan says:

    My client id is YX6647. I am new to trading so by mistakenly i selected the 60 days challenge option. Now I don’t know about this scheme & its details but still, my brokerage is charging as per the scheme. Kindly let me know this scheme in details or else please deactivate this scheme & refund my amount.

    • Matti says:

      Mayur, the 60 day challenge doesn’t have a separate brokerage scheme. The brokerage you’re being charged is what is charged to all users. If you’re in a net profit at the end of 60 trading days, all the brokerage charged to you is reversed back to you (subject to a max of Rs. 6000). You stand nothing to lose here. 🙂

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