Zerodha – Plan of Action – FY 2014/15

Traders,
Firstly, here’s wishing you a lot of health, wealth, and happiness for the new financial year – FY 14/15. It is our constant endeavor to create an intellectual and profitable trading community at Zerodha. Over the last 6 months, we have put in a lot of effort to innovate in terms of technology, which will start bearing fruit over the next few months.
I am sharing our Plan of Action for FY- 14/15, so that we are pushed as a team to achieve it on time.

  1. The immediate good news is that the clearing member charges which form a part of total turnover charges will drop by upto 70% bringing it to among the lowest in the industry. This has been possible because of all your continued support and our increased turnover on the exchanges and hence the total turnover charge at Zerodha for Futures would now be 0.0025% (Industry average: 0.003%) of contract turnover and for options 0.059% (Industry average: 0.07%) on the premium turnover. Check out the charge sheet for all the new rates. This will be effective from April 3, 2014 and would increase your cost savings at Zerodha.
  2. Our new Backoffice is a work- in-progress. The basic reports are ready to be used, but we hope to make it the most user friendly trading journal and statistical analysis tool that can actually help improve your odds of winning in the next couple of months. The image below shows, how on login, you can visualise the value of your entire account, and easily access all menus and generate reports. We also have an alert menu for any correspondence like intimation of short delivery and others.  We will soon have an Android app and a tax ready P&L report to help you file IT returns for FY 13/14. To access the new BO visit: https://bo2.zerodha.com/.
  3. We have gotten approvals from the exchange for Bracket and Trailing SL orders, and this should be available on ZT in the next couple of weeks for NSE – Equity and F&O. We will be the first brokerage to offer this on both the exchange segments. This will be free for now for all our clients.
  4. Work on our new trading platform has slowed down a bit because of the regulatory process, but we should have some good news on this in the next couple of months.
  5.  We have extended the Zerodha 60-Day challenge in its current form until December 31st, 2015 by popular demand. The challenge is helping traders by giving them that extra motivation to stay disciplined, the overall profitability of all our clients gone up from when we started the challenge. Check out some of our latest winners.
  6. We have just started Trading Q&A, a crowd-sourced, community curated Q&A system to help you get the most up-to-date, insightful, and valid answers to all questions on trading and markets. We look forward to your active participation there.

These are just some of the few things I’ve mentioned, but this is the year by end of which we want to be your best brokerage firm not just in terms of cost and support, but with better tools, technology, new initiatives, and more, which can help you profit trading/investing in the markets.
I am always available on [email protected] for feedback and suggestions, and don’t forget to refer your friends by visiting here.

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. “You don't have to be a hero to accomplish great things---to compete. You can just be an ordinary chap, sufficiently motivated to reach challenging goals.” - Edmund Hillary

141 comments

  1. loke4300 says:

    thank you Nithin. good news.

    keep up the good work.

    • Suresh says:

      Are we coming with VTD valid till order feature also.

      Can bracket order will work as 2 leg conditional order OTA one tiggers another, means, Placing limit buy and limit sell in single order, condition limit sell gets activated automatically only when limit buy has executed completely and if limit sell didn’t get executed by eod of market consider it as delivery based trade as normally happens. sufficient balance is availiable in trading account.

  2. Great news. Keep up the good work.

  3. what is meant by transaction charges

  4. jayaraj says:

    Simply Love You … Zerodha !!!

  5. vamseekrishna says:

    Nice job!!! all the best

  6. Alok says:

    Thanks….Why “Traders” not “Partners” this Time……………..

  7. Simple is passion “Zerodha” ……. I am Welcome this charges

  8. Mahesh says:

    Hope Price ladder option in z trader will be back soon !!!!

  9. rav.prasad says:

    wow what a great news its very very happy news for all traders

  10. SRINIVASA says:

    Dear Nithinji, go for monthly brokerage charges of Rs.750

  11. rav.prasad says:

    you are mostly thinking about trading persons it is useful to all of us

  12. Hi Nithin,

    Good to hear about bracket and trailing stoploss orders. Recently joined zerodha on recommendation from one of my friend. Hope zerodha, as it grows, does not lose its customer-centric and cost-effective approach in future and set high standards to meet for other brokerages.

    Wish you success.

  13. Ketan Lad says:

    SIMPLY SUPERB !!!

  14. Vinit says:

    Simply awesome 🙂

  15. Milind Wagle says:

    Why not charge a package like Rs 5555/- per year per segment or monthly Rs 750/- per segment

    • Milind, the business will have to earn to survive, the kind of plans you are talking about will not be possible for the brokerage to survive for long. Also earning is important for the business to be able to spend on new technology.

  16. arpit says:

    Can you please elaborate upon Bracket and Trailing SL orders

  17. Karuna says:

    bracket order!!! hurrrrray! thanks so much. i was desperately wanting this feature. just can’t wait for it…. thanks once again

  18. Rajesh says:

    can the new BO be opened in Chrome or works only in IE?

    Rajesh

  19. manish says:

    Thanks !! Great news.. What is the plan on the Price Ladder please.. ?

  20. Debasish says:

    Is the brokerage calculator updated to reflect the reduced charges ?

  21. s b sen says:

    Transaction charges reduced from .0039% to .0025%. How can it be called as 70% down.

  22. shivkumar says:

    Great Going Nitin.

  23. DM0969 says:

    This is Superb Nithin 🙂 … QQ on http://tradingqna.com/ … can we post questions/ comments related stocks and their technicals?

    Mahesh

    • The idea is to maintain quality and not let tipsters crowd the place up, like on every other site. But yeah as long as the discussion benefits the community, we can definitely discuss on stocks and their technicals.

  24. Mike says:

    That’s good news. I hope, in the future, you will tie up with foreign discount brokers so that trading will be possible in international markets as well!

  25. mkk157 says:

    Reports are not working fine on new BO interface. Please check.

  26. venkatesh says:

    waiting for bracket order,, and trialing stoploss order for delivery traders.. its very useful

  27. ASHOK says:

    THAT’S A GOOD NEWS !

  28. murugappan. says:

    Bracket and Trailing SL orders are for mcx too?

  29. abullaise says:

    Avail VTD facility?

  30. @ Nithin better upgrade the Trading platform also with with some more easy options.

  31. kumar says:

    please develop 64 bit new trading platform application.

  32. priya bajaj says:

    great news on bracket orders and trailing stop loss orders.. thanks!!

  33. s b sen says:

    How weightage of a stock of bank nifty or Nifty is calculated. Say, HDFC Bank weightage is 24.12 as on 4-04-2014. How the calculation be made for arriving at 24.12.

    • Most of these indices are managed by someone, so for example Nifty/Bank nifty is managed by IISL (India Index services and Products Ltd), and they determine the weightage of each of the stock on Nifty, and it is based on free float market capitalization.

  34. debasish says:

    Hi,

    The live feed in zerodha trader is not working today.Could you please have a look?

  35. M.PARAMAGURUPARAN says:

    Hi,

    zerodha trader not working why??? any reasion?

  36. MURUGAPPAN says:

    hello nithin sir, if you think something asked by someone is a foolish question ,why dont you spare one second for replying that?
    if he knows the answer he wont ask it here.na?the same thing you ppl are doing in traderji too.i thought atleast you will anwer here.but no use.sorry…

  37. Udaya says:

    Sir,

    whether Zerodha plans to offer “Unlimited trading” at a monthly fixed rate brokerage like many other brokerage houses? This kind of fee structure will be helpful for many regular traders. Please answer

    • No Udaya, Fixed monthly brokerage is not something that we are looking at, we don’t think it is a viable business model, we are working on giving a lot more without increasing the charges.

      • Veer says:

        The reason why u need to think of fixed brokerage is because in commodity CTT is high and if I do 10 trades I end up paying 400rs brokerage on single day and in addition to CTT will be around 1000 rs..so total cost is more than 1500.. That is the reason why I have stopped trading in commodity

  38. nn says:

    Hi Nithin,

    I am intrigued that zerodha would be launching a new trading platform…which makes me wonder which one.
    The few exceptional trading platforms available today are
    1. zerodha/ neat owing to the speed of execution
    2. Sharekhan owing to the integrated charting solution
    3. Likes of IIFL but offers a pretty slow execution rate
    4. And Diet..

    There is also TWS by interactive but the broker demands a USD 2000 margin upfront.

    I really do not think you are eyeing a software close to what is available in the market. Which leaves us to more developed platforms such as scott trade/ etrade/ ninja and the likes…

    So, which one is it? And the bigger question, would there be a charge for it?

    Regards

    • Something we are building in house, but when I say building it is not ground’s up, it will be on lines of some of the popular international platforms. Atleast to begin with, we don’t intend to charge our active clients.

  39. nn says:

    Nithin,

    Look forward to it. Let me know if you you need a client’s participation on UAT testing and feedback. I am happy to be part of this project.

    Regards

  40. Das.Fuhrer says:

    Presently there is no option to open charts for spot index, So will you guys gonna add this feature in your upcoming version of trading platform. I would really appreciate a quick reply.

  41. Skann says:

    Hi Nithin,
    Curious to know if we will have options for TICK charts in the new platform with 1 or 2 days backfill atleast.

  42. pawan kumar says:

    how to see intra day chart on ur web apps pc version

  43. sathish says:

    hi.. when the new platform will be launched? will it be on par on with Sharekhan?

  44. Prabhanshu says:

    Hi Zerodha, I could not find any appropriate place to ask this questions, so commenting here. Will appreciate a quick response on these. I am travelling to US for a month and will be back to India.
    Q1. Is it legal to trade in NSE (in India) from USA?
    Q2. Is it legal to open an trading account in USA and trade in US stock’s/currencies?
    Q3. If ans for Q2 is Yes, then is it legal to trade in US Stock’s/currencies from India?
    Q4. Generic Query for NSE CCY and Commodity trading in India – From where I can download EOD prices for these and see intraday real time charts? Unlike Equity, there are many options and free websites for seeing real time prices and many options to download EOD rates, I am not finding these options for CCY and Commodities.

    Thanks
    Prabhanshu

    • 1. Yes you can trade from anywhere, if there is any restriction it won’t be from India, it might be the country where you are trading from. For example Dubai and countries in the gulf have blocked most trading websites.
      2. Are you allowed to open a trading account in USA, guess you would have to speak to a brokerage there. But you should be able to.
      3. Yes you can trade on US Stocks from India, ICICI direct gives you that option presently.
      4. Our trading platform (Zerodha Trader) has live feeds on Currency and Commodity. For EOD prices search for NSE Currency Bhavcopy and MCX Bhavcopy on google, you will find the links.

      You can ask question which are not related to Zerodha on TradingQ&A

      Cheers,

  45. Shashi says:

    Hi,

    I read in blog above that you are developing an android app for backoffice. Can we expect it to be rolled out this month? Please let me know the release time planned for the same.

  46. SKann says:

    Hi Nithin,
    Eager to know the release date for the new platform and can we trade from charts in the new platform.

  47. Shrikant Soni says:

    Hi Nitin, just wondering, is a mobile app for the Windows Platform on cards soon ?

  48. dc0267 says:

    hi nithin sir BO kab tak Active Hoga plz tell me

  49. nn says:

    Hi Nithin,

    Just wanted to check if we can expect online application for public issues such as IPO/ OFS/ NCDs through zerodha in the near future? Is this something that will be part of the new platform?

    Thanks

  50. Tuhin Paul says:

    The new Back Office really Looks good.. But when I try to login with the current BO credentials It gives me error. Wanted to have a preview of it 😉

  51. rohitpatil says:

    Nithin Sir
    when can we expect our hands on new platform which is under construction?
    u said on April may be two months .
    eagerly waiting

  52. nn says:

    1. When is Zerodha expected to have its own DP? What will be the benefits to clients once that happens vis a vis against the disadvantages the clients currently face (if any)?
    2. What will be the documentation requirements from the client’s end to ensure the transition?

  53. Gautam says:

    Hi Mr.Kamath,

    Have u started with the bracket order system in the trading platform yet. If yes, could you tell me if orders are prone to slippage. I am currently trading with another broker and experiencing slippage issues. One of my strategies requires me to get the perfect fill for trade execution/stop loss/targets in order to work.

    for eg: In the pre market open, If I place a bracket order – buy @ 200/- with stop loss @198 and target of 204/- it should execute at these exact prices as mentioned in the bracket order otherwise if there is a lag it won’t work out. That is, if my buy order is triggered and price happens to move in my anticipated direction for eg: upto 204.25, the profit should be booked. Currently with my broker, the price goes past the 204, yet the profit never gets booked until it travels quite a bit in the same direction, however stop losses get triggered very easily.

    • Gautam, yest Brackets are already live, check this post,

      When you place an order, it is sent to the exchange immediately (in milliseconds). If you place an order to sell at 204, as soon as the price hits 204 and all orders before you are filled it will definitely get executed. Don’t understand why the price should go much higher for your limit to get executed.

      There is no such lags with us.

  54. sandeep says:

    If nobody refers me I myself open an account do I get 10% referral for myself on the trades which I do?

  55. palani kumar says:

    WHEN THE NEW PLATFORM “PI” COMES OUT?

  56. RAJESH says:

    zerodha is doin a fine job ,hope in a few years it grows to india’s best brokerage firm, my request to you guys is to make the traders platform more simpler and precise…..all the best

  57. DM0969 says:

    Hi Nithin,

    1) This is the Nth time I am congratulating 🙂 Zerodha for all services you are providing further I am earning because of referral services and in the process for applying for the “Associate program”, also was one of the cash reward winners in the first week of Crowd.in 🙂

    QQ> I was not able to locate any client testimonial link where I can post these comments?

    2) Always dil mange more.. and expectations are always going up :), I know for every new feature there are huge cost associated. Here is some of my wishlist from zerodha and maybe you can advise if on the drawing board or Coming soon or on the anvil?

    a) Integrated stock research site.. something like moneycontrol dot com
    b) Single login across all sites . (trading login, Crowd.in , trading Qna and z-connect)
    c) IPO bidding via terminal
    d) Online charting tool… something like chartink dot com

    Thanks,
    Mahesh

  58. Hems says:

    Hi Nithin..

    1) Do we have bracket orders executed from the chart as Sharekhan does ( for OTA Students ). On Sharekhan… when a bracket order is executed from the chart… All the values..Entry, Stop Loss and Target PLUS the Position sizing is automatically filled and the order can be executed manually . THIS SAVES A LOT OF TIME FOR FAST INTRADAY TRADERS.
    2) There is a setting in Sharekhan ( for OTA students) where a trader can decide his risk per trade…and accordingly his position size is calculated in the Bracket Order Automatically.

    Regards.

  59. Harish says:

    Hi nitin,
    if possible plz think on unlimited trade package like Rs1500-2000 monthly per segment, you have already existing plans with you plz add with unlimited trade plan too, your clint can choose the plan as per requirement. Plz

    Thanks

    • Harish, cost of executing a trade for a broker doesn’t go up with the size of the trade, and hence we charge a flat fee per trade. Charging a monthly fixed fees according to us is a flawed business model, as if there is one client trading 10 times a month, and another 100 times a month, the effort goes up proportionately.

  60. Muzammil Sharief says:

    Hello,

    Please advise when IPO facility would be available on zerodha taking into consideration a huge IPO lined up in coming months or a year.

    Any time frame on getting the service q2 or q3 2015.

    Thanks
    Muzammil

    • IPO is not really on our priority list, we have a bunch of other things working on right now. You can still apply for IPO offline.

      • Patel Parth Bharatkumar says:

        How can I apply for IPO offline if I don’t have any other trading account except Zerodha?

        • The IPO application forms are usually available at most banks, you can enter the demat (DP ID) details in the form and apply using a cheque leaf.

          • Patel Parth Bharatkumar says:

            There are so many IPOs in pipe line in near future…Why don’t you take IPO on your priority list? Every time we have to apply from other’s account.

            • Venu says:

              Unfortunately, the IPO process isn’t online yet. Starting 1st January 2016, SEBI has made it mandatory that all applications be made by ASBA. This is why only such broking houses who also have a banking license are able to provide you this facility.

              We’re in touch with the Exchanges and are hoping something is done in this regards so as to get increased participation from the retail community for IPO’s.

  61. vijaya says:

    Hi Nitin,
    1. On a candle stick chart where are the open,high,low,close of the candle displayed when cursor is placed on any selected candle.
    2. Due the charts have cross-hair and tracker ball mouse pointers. These are very helpful.

  62. vijaya says:

    Pl do include day separators on charts

  63. sreejithc says:

    sir,
    what is diffence between Demat Account in IL & FS and Demat Account in Zerodha Securities Ltd ?
    Can exisiting Demat Account in IL & FS transferd to Demat Account in Zerodha ?

    • Venu Madhav says:

      No difference except that the service is being offered by 2 different Depository participants. However there are a few benefits that you’re entitled in the future by opening a demat account at Zerodha. Yes, you can close down your existing demat account and open a new one at Zerodha.

  64. SK says:

    Hi Nithin,
    With my current broker (SK), sometimes stoploss does not execute if the price suddenly shoots up/down. I have to be at the desk, with price alerts to make sure this does not happen. Can Zerodha guarantee that my stoploss will execute w/o too much slippage?
    Thanks

  65. Patel Parth Bharatkumar says:

    Hello sir,

    Just wanted to know when I will be able to apply for IPO online???

    It should be on your top priority list so that Zerodha client don’t have to find other’s demat account for IPO.

    • Venu says:

      It’s a little difficult to automate IPO’s. With SEBI making ASBA compulsory for all IPO’s, brokers who are not banks can’t automate it. We’re finding out ways in which it can be automated.

  66. SK says:

    Hello,
    Government has announced Krishi Kalyan Cess effective today on all taxable services.

  67. SK says:

    Other brokers have introduced it (Krishi kalyan Cess) w.e.f. today. Is Zerodha’s service exempt in some way from this?
    Thanks.

  68. Raja Rajan says:

    Congratulation Mr.Nithin Kamat for being choosen Bootstrap Champ 2016 at ET Startup awards, Would you mind explaining what is meant by Bootstrap Champ.?

  69. Manjunath says:

    Sir, is there any plan for start unlimited monthly plans because its help for active traders.

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