@Prasad_India As our bank accounts are held with HDFC, the Zerodha + HDFC combination would be the best as transfer of funds between the trading and bank account would be quicker since inter-bank transfers take less time.
@Yogesh_s What youâre suggesting is called Smart Order Routing (SOR). SOR is essentially an algo product that weâd need to get approval from exchanges to implement. Getting approvals for it though is quite difficult; this is on out list of things to do though.
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Thanks Nikhil. Another query - Zerodha offers to buy either from NSE or BSE. Once bought, the shares need to be sold on the same exchange or can be sold on another exchange also? Looking at your software I feel you should sell at same exchange. It is not clear how d you take care of arbitration?
Prasad, once you have the shares in your demat account, you can sell them on either exchange.
@Nikhil.A Any updates on the âvalid till cancelâ order feature? when is it going to be introduced?
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Hey. Canât commit to a timeline as our focus has been elsewhere (ramping up software infra to support users on days with high volatility and the new backoffice).
Do we have to open Demat account with you also for delivery based transactions?
Not mandatory, but recommended for smooth operation. Buying shares is never an issue, but whenever you wish to sell shares from your demat, weâd require PoA over your account to execute the sell instructions.
I can always give delivery slip in your a/c, as I am doing at present - why to have poa?
Definitely possible, but that wouldnât be operationally practical for an online broker like ourselves, and so donât offer the service.
@Nikhil.A I have a question on buying / selling mutual funds on Zerodha platform.I have gone through your mutual fund website and the related FAQs.
My question is very simple. Will I be able to sell my stocks and buy mutual funds (mostly ultra-short term liquid debt funds) on the same day or do I have to wait for proceeds from my stock sale to show up in Q (on T+2 day) and then place my MF buy order?
Similarly and more importantly, Will I be able to sell my MF units and buy stocks on the same day or do I have to wait for the payout from AMC (assuming, on T+1 day) to show up in Q and then place my stock buy order?
I know that these transactions settle on different days and with different entities but as a broker to all these transactions will you be able to manage the settlement process seamlessly? I am currently using LIQUIDBEES since these settle as stock but looking for a better alternative.
I am trying to explore HDFC bank Demat account. I tried contacting their customer care and local office. I was looking for the information regarding Speed-e but clarity did not emerge. I believe they do not have their own transfer facility similar to E-Instruction by ICICI Bank Demat.
They could not explain how Speed-e works. Do I have to buy digital signature?
If someone has experience of using token based Speed-e (where user can transfer shares to any CDSL/NSDL account) facility and share his/her experience it will be enlightening.
Thanks in advance.
Please dont get your account with HDFC Bank / Securities.
I was charged a crazy brokerage of 0.55% even after having a substantial account with them. Plust their trading website is very heavy, not user friendly and goes down when you need it the most.
Eventually I moved to Kotak Securities who gave me a brokerage rate of 0.25%.
I hope it is not too late!
Hi Gaurav,
I have a Non-PoA Demat Account with HDFC Bank for which token based Speed-E has been activated. Zerodha has been kind enough to configure my brokerage account in such a way that all my purchases through them go to this HDFC Bank demat account and all my sales happen from the Zerodha demat account. This is basically a copycat implementation of @Yogesh_sâs idea mentioned by him earlier.
Speed-E comes in two forms -
a. One is username and password based. You do not need to buy a digital signature for this. But if you choose this option then your ISINs can be transferred only to pre-approved demat accounts. These can be any demat accounts but you will have to mention them when applying for Speed-E. Also, I think you cannot freeze your ISINs if you choose this option.
b. The second one is username and digital certificate based. If you go in for this then you can transfer your ISINs online to any other demat account. You can also freeze individual ISINs or the entire account. But you will have to get a digital signature certificate from e-Mudhra and renew it every couple of years.
I went about this whole process of activating Speed-E by:
a. Applying for a standalone HDFC Bank demat account on their website.
b. Once the demat account was opened I wrote to them (using their website) about activation of Speed-E. (You could probably request for Speed-E activation at the time of opening the demat account itself)
c. I got a detailed email with instructions (applying for a token, preparing agreements with adequate stamp duty, other forms etc)
d. I submitted all the forms etc. to my local HDFC Bank branch for activation of Speed-E.
It took me a few months to get all this done. At the end of it all, I got a username from HDFC Bank using which, along with the token, I can login to the Speed-E website.
Attached please find two screen-shots of the interface of Speed-E portal.
Please let me know if you have any specific questions. Most HDFC Bank branch personnel donât really know much about Speed-E. In fact, my local branch didnât even have a Securities Desk and so that had to forward my application to/through another branch.
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Do you have any news on VTC orders in Zerodha? Zerodha is doing all good with light weight products and very good features. But due to lack of this option, it is making us to depend on Sharekhan etc for many shares. I feel, It is a must feature for a investor.
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Canât agree more. Unfortunately, Zerodha has been promising it for a long but nothing concrete has happened on that as yet. So far itâs just that, A Promise.
I wish mgmt wakes up and does something concrete on this promptly. Whatâs the point in opening your shop when market gets closed?
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I once threatened ICICI guy that VTC was the only reason I still maintained my account with them. He said they had a team of 200 people just to cater to this functionality as a lot of manual effort goes in providing VTC. If this were true, one can forget about VTC on Zerodha.
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@Yogesh_s you can purchase MF units from share sale proceeds the same day, but for the redemption of MF, youâll need to wait for the AMC to process the redemption and give you credit.
@indumouli, @cool_aksh and @sood We are currently in talks with our OMS vendors, Omnesys, to provide VTC orders. Iâve stayed mum on the topic here because though this is something we are working on, I wouldnât be able to provide you with an ETA since the feature needs to be built by an external entity (Omnesys).
I am new to zerodha and hence asking this question (may be dumb)âŚIn Zerodha, when you buy or need to add a scrip in your market place from where you place the buy. While doing so, you explicitly mention whether it is in NSE or BSE. Once you have got the share and while you want to sell, does it give you options to chose whether to sell it on BSE or NSE? I did not find this option and hence askingâŚThanks in advance for your helpâŚ
@tbhavesh If you buy on NSE, and wish to sell on BSE, youâll just need to add the BSE ticker to your marketwatch and place a sell order from there.
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