Selecting a broker

(Nikhil.A) #203

@tbhavesh If you buy on NSE, and wish to sell on BSE, you’ll just need to add the BSE ticker to your marketwatch and place a sell order from there.

(Gaurav Agarwal) #204

Recently I had a very unusual experience with Zerodha. This is at time of Quarterly Settlement. We know their software (Kite & Q) has glitches from time to time and we live with it. They also accept that softwares have problem and they are always building a new one.

But this time around, backend Q changed the option for Quarterly Settlement from Transfer back to bank account to invest in overnight liquid fund on its own without my consent.

Now, they do not send you any confirmation (email/letter) on the option you have chosen for Quarterly Settlement neither do they ask you before doing quarterly settlement. Also, I had send them a mail few days back asking for the dated of Quarterly Settlement, they did not have dates in advance.

Now I am surprised as to why the system is lopsided in favour of Zerodha and in my case they can easily say that I did not choose to transfer funds to my bank account and get away with it.

I am quite disappointed, looking for the advise of fellow borders as what should I do? Should I send a complain to SEBI? How we can fix this?

I am little more concern by overnight fall in NAV of Taurus Debt funds. In this case we do not know where our money in invested, which mutual fund, how is the performance? etc.

(Nikhil.A) #205

Gaurav, our team will get back to you on why your preference changed. What I can tell you is that by March 31st we are moving from our vendor backoffice platform (which manages the Quarterly settlement and trade process related work) to in house. Once done, we can alert you one day before that quarterly settlement is due. You will have an option to do whatever you wish. The liquid fund used is usually something which has 1000’s of crores AUM and not a small debt fund like of Taurus where risk is higher. But I get your point, nothing should happen without your consent. We will check and get back to you.

([email protected]) #206

I like Zerodha - slowly increasing my exposure at Zerodha. Very soon, most of my trading will shift to Zerodha - have some issues with Kite (it doesn’t stay updated during non-trading times; Q-back office isn’t too great!), but is a great trading platform.

I prefer it over ICICI Direct, though most of my invested capital still lies with ICICI direct.

(Gaurav Agarwal) #207

We have explored Zerodha on the forum, we need to explore other discount brokers also. Here is the list I could find

  1. RKSV renamed Upstox

  2. Fyers

  1. ProStocks

We need to share our experiences on these platforms.

UpStox is backed by Ratan Tata, Kalaari Capital & GVK Davix. Their pricing is similar to Zerodha. Anyone used their platform. Enlighten us about quality of their software.

(eyesice) #208

I am looking for a broker with light weight interface and easy to use. I won’t be doing intra day trades or FNO and mostly my trades would constitute of delivery over the long term. Is Zerodha reliable enough? I have read a lot of reviews outside valuepickr like this - and it seems the system is highly unreliable and the customer care is pathetic in solving issues. Would like to hear opinions of VPers here who use Zerodha as their main platform.

(Gaurav Agarwal) #209


Read Rajat Batra’s answer to What is your review of Zerodha? on Quora

I will concur 100% with Rajat Batras views. His review and my experiences are similar.

In addition you can also read my latest experience with Zerodha here.

(eyesice) #210

Thanks @Gaurav_Agarwal, this helps me in taking an informed decision

(Raj) #211

May i ask which one did you go for?
I personally thinking between Zerodha and RKSV, difficult to decide.

(eyesice) #212

I have to do it this week and will mostly go with HDFC Sec / ICICI Direct. I usually buy and hold stocks and I am okay to pay a little more brokerage if that will give me peace of mind.

(csteja) #213

@Nikhil.A If I buy a share on NSE, can I sell it on BSE ? I guess it wont work. Kindly clarify.

(Nikhil.A) #214

Yes, you can sell on BSE when you buy on NSE. Only thing is, you’ll have to wait to get delivery (T+2) to do it. When you’re selling, sell from the marketwatch by adding the BSE ticker and invoking a sell order from there.

(Dr Kurian Joseph) #215

Hi I been using zerodha for more than 2 years. Zerodha Pi is very simple and easy to use. You can get daily and minute chart in any time frame.
I trade daily in F&o. Did not face any problems uphill.
For delivery they have zero brokerage and for transfer a share to DP- DP charges is just rs 5 but other brokerage take around Rs 14 and brokerage…

I feel they are providing great software, good customer service at a very rock bottom price.
Extremely satisfied with zerodha.
Most other discount brokerages trying to follow zerodha but they are also cheap enough.

In icici direct, F&o you have yo pay around Rs 500 for one contract but in zerodha it’s Rs 20 per order… Even you put order for 100 contracts also just 20.
F&O most of the money is taken up by brokerages…

(raviraj2018) #216

Upstox is a decent option. They have easy to use interface on both mobile and web platform. Charting options are also available. But the most frustrating part for me is neither platforms display the cost price in the profile. So u end wondering what is profit / loss you made.

(Raj) #217

I am planning to open with upstox. Do you find their customer service prompt and responsive? Does the app/web portal work smooth without glitches?

(raviraj2018) #218

Upstox customer service is prompt and responsive. Their portals also work well. Frankly I have been using this account sparingly because of the unavailability of the feature I mentioned.

(Raj) #219

Thanks. I spoke to the helpdesk, they said an update to the software is planned over next few days to implement this feature to show avg cost of buy.

(Sandeep Singh Rawat ) #220

I have been using Zerodha for last 5-6 years after migrating away from ICICI and I haven’t had any issues with it. Customer care is also prompt in my experience. I mostly do delivery and occasional options and I like the platform but then again I am not a heavy user as I simply buy and forget.

One thing I liked for sure is the way they focus and continuously work on improving the user experience. They have improved a lot from the original ugly backoffice and not so great frontend to the current ones.

(Gurjot) #221

Has anyone participated in a stock buy-back using Zerodha? If yes, please share the details on what/how to do so?

Read on google - just scan the tender form and send it to them. However no e-mail ids were provided.

@Nikhil.A - Can you guide?

(Aksh) #222


I’ve also received a similar email stating that my unused funds have been parked in some overnight fund and that’s also as per my request which I’ve obviously never made. I consider this to be a serious violation and breach of trust and it needs prompt corrective action on the mgmt part. I’ve already sent an email to support at zerodha. Kindly do the needful or I’ll have to initiate a legal action.