Hi @Yogesh_s Your suggestion & expectations from Zerodha are what one would generally expect. But given the present state of their technology I would rather suggest them to first improve upon what they already have instead of venturing to newer technologies and platforms.
@gurjota u just need to email a scanned copy of the tender form to support@zerodha.com.
@cool_aksh Can you please share your client ID with me in a PM or email me on nikhil.a@zerodha.com?
@Yogesh_s The settlement cycle remains the same for now.
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In general, for trading Zerodha is simpler, faster and better. Not yet fully understood reliability when it comes to investing. Some of the glitches still remain (more of irritants than show-stoppers)
- After market hours, verifying your positions is complex and error prone. Kite resets prices to zero or some illogical numbers and your positions show some crazy numbers. This will leave you puzzled about what happenedā¦
- The problem is more acute if you are also in commodity trading - in the morning, you will have some astronomical number as your net positionā¦ though you will learn to live with it, I still hate that and I canāt understand why the last traded price shouldnāt be taken as a referenceā¦
- Updates on your stock doesnāt happen (ban from F&Oā¦) and therefore isnāt for someone who depends on the dashboard as the place of update
But there are several great things that help you, which are typically not available elsewhere:
- Topclass charting software thatās available to you
- Structured products for your own equity investmentā¦
- Outstanding reading material in varsity (Compare it with ICICIā¦!)
- Good quality webinars (Compare it with ICICIā¦!)
- Off-course low cost brokerage
For a young company, this company is doing pretty well and I have already started my investing activity also there. Once I am fully convinced, trading activity in line with the investments will increase.
With all the irritants, I am close to being a fan of Zerodha! - love the purpose!
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@Gaurav_Agarwal I am actually quiet happy with Zerodha. Yes there are glitches and further scope for improvements but I have seen their platform improve and evolve and they have added more features in last 2 years than what ICICIDirect did in last 18. I have been with ICICIDirect since 1999.
Moreover, as a long term investor what matters is safety of your assets and cost of transactions. I get both with Zerodha. Everything else is immaterial.
One has to realize zerodha is a broker and their R&D budget is geared towards providing tools for traders not investors. They donāt make money from investors. Other brokers are exact opposite. They charge more to investors and subsidize traders.
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My experience with Zerodha has been very poor - still feels like it is rough and has to get itās act together.
My demat account opening was delayed, had to constantly follow up and no call back.
And the funds transfer does not work reliably - conflicting advice from different customer care reps, I thought I had finally figured out something that works for me, when a funds transfer goes missing. I am currently struggling with getting my money back into my linked savings account - it has gone from my savings account, but Zerodha claims that they have not received it and are blaming Atom. It is a large amount (for me), so wondering if this has been the normal experience for other folks on the forum.
Money transfer part has been smooth for me. I have not faced any problem in this area.
- What is Atom?
- How many days have passed since your money transfer is stuck?
Atom is the payment gateway Zerodha uses.
The funds transfer is supposed to be real time, but stuck for 2 Days now.
Can you share a ticket number so I can have this looked into?
Is there a bank transfer limit while using zerodha. While using platforms like invezta banks like ICICI have a limit of only 5L per day.
We donāt impose limits at all. Banks may limit the transfers being made though.
Have sent you a message.
yes that is a problem right now. Banks have no limits on their own brokerage sites
The best way to circumvent the limitation is to get the RTGS details from the broker, and then transfer using RTGS. Your bank may still impose daily limits, but they are much higher and negotiable based on your relationship with the bank.
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Feedback for Zerodha:-
- Your mobile app has no provision for giving feedback or raising a ticket.
- The total amount for an order is never shown. The user had to open a parallel calculator app.
- Limit Order is allowed to be placed even when amount available is insufficient. Naturally the order was rejected.
- No notification to user when order is rejected. If the user checked notification tab he will come to know, otherwise your app is not bothered that the user wants to buy but order has been rejected.
- No facility to modify a rejected order. the entire process has to be done again, just to change one digit of text.
Overall very poor experience.
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If itās through the PIS route itāll be done from the bankās end. For Purchase Trades, itāll be done within T+2. For a Sell trade, the settlement will be done from the brokers end on T+2 and the credit to your PIS account happens on T+3 after deducting the TDS.
If youād linked the NRO account with the trading account then itād work the same way as a resident account where you could transfer funds and then purchase stocks, the money gets debited from the Trading account. The same when you sell, the funds get credited to the trading account and you can then transfer those funds to your bank account after the T+2 settlement cycle.
Is selling in BSE and buying in NSE possible on same day?
Or the trade has to be on same exchange?
Thanks @Nikhil.A
In case of Multiple demat accounts, FIFO method for calculation of holding period for STCG/LTCG will be applied separately to each account.
Now this has some interesting implication for calculation of LTCG in case an investor keeps some shares for more than 12 month in his demat account A and later transfer to his demat account B and sell it say after keeping it for a month in his demat account B.
How will the calculation proceed, according to CBDT circular 768 dated 24 Jun 1998? I think he cannot avail LTCG!!
Intra day has to be on the same exchange