I am well acquainted with the trading giant Zerodha , but while writing this bit on this sleeping giant I also got a bit awestruck. When and how did Zerodha silently decimate the bigger brothers start, left me gaping , to say the least.
Let this article not be like the older news programs , barely listing the points, the pros, the cons. Rather let this article be a lively piece on the changes that Zerodha has brought about in the day-to-day trading .
I will not be talking about the exotic features of Zerodha that may sound too good, but in reality may not be so attractive. Rather let's discuss the products of Zerodha which has shaken the complacent, more powerfull broker institutions.
Direct Mutual Fund Platform- Now connect directly to the Fund Houses
Let's take the coin platform, for example. Zerodha sites it as an improvement over the distributor format of mutual fund collection. It says that the older distributors, whom you had to engage, for creating a mutual fund, fleeced you more than the new format where you engage directly with the fund house, courtesy Coin. It has specifically created the Coin application for it.
Yes, over rupees 25,000 it has a fee of rupees 50 per month of use of this platform. However, have you considered the advantages in lieu of this little amount? You do not have the hidden charges of paying commission, from your accumulated amount, to the distributor all through the life of that MF. Elimination of this commission results in a greater corpus of your matured amount. Next, consider the ease of viewing your MF in all its glory (i.e. the units, NAV per unit on any day), with all its ups and downs at any times. Forget running to the agent or the distributor to calculate your total amount or waiting to find the NAV from ET, BS, once they arrive the next morning.
Kneel no more before the agency to release your mutual fund. Stop biting nails to know the final amount. Log into Coin, file the exit form online in a few clicks for your MF. All the details, e.g. current nav, exit load, your matured amount will be visible to you while you fill in the data. The payment would be there in the Zerodha account in a matter of days, or directly credited to your preferred bank account that you had linked while creating it.
Kite – Immerse yourself in the beautiful HTML5 UI as the rates live stream on your screen. Trade effortlessly
Have you traded on Kite versus the other applications or browser-based platforms of other brokers? Well , allow me to use the term “butter smooth “ for Kite. It is an HTML 5 browser-based platform, which is so uncluttered and simple that you would fall head over heels in love with it. Adding a new script whether it is of commodity or equity is utterly simple. Just type in the first 3 words of the script and see the magic. The addition in watchlist is instantaneous with minimum clicks.
The Android version of Kite is as good and simply interfaced like the browser version.
In the browser interface of the kite itself, there is a simple integrated price chart, which helps you determine the current price vs. the historical price curve, at one glance. Compare it with other platforms in which you have to open a separate screen for the price graph.
Seamless integration of Backoffice
Do not connect to the separate back office. Zerodha has provided the back details like total margin, margin locked by open position, margin free in the kite itself.
One very attractive feature I noticed, which is immensely helpful and different from others, is the calculation of open positions. Other brokerages show the current profit or loss based on previous day’s closing price. And we wonder what our actual profit or loss is! But Zerodha shows the actual profit or loss. This eliminates the error of squaring off the position at a perceived profit while actually, it may be at a loss to the actual acquisition price.
News at Hand- Continuous
Pulse is integrated into the Kite interface. Pulse is a continuous news stream of curated items from business newspaper like ET, BS, Reuters, Livemint and HT. Search for the latest news item on a particular script or commodity with one-click from the main screen of Kite.
Trading University via Varsity
Kite is like a mini-university in itself. It integrates a knowledge bank known as Varsity which can be accessed with one-click . Scrap thought of costly e–books from Amazon to start trading. Varsity is a free collection of articles on hot topics of trading. Whether you are a trader interested in Technical analysis, or a big-shot dealing in currency and commodity futures or a options trader, Varsity has knowledge articles for all of these. Want to read at peace when offline? Yeah, as you expected they are downloadable in PDF format.
Queries? Have them solved
Zerodha has another ace on its sleeve. The Q&A session powered by a completely dedicated lot of traders. Other big brothers also have a set of FAQs but they are mostly mechanical. But the Q&A section of Zerodha is live and responsive. Mark my words when I say that chances of finding answers to your worries like taxation issues for individual products like derivatives, currencies, are the highest in Zerodha. What else do you expect when the sometimes the CEO of Zerodha himself take note of your problem and answers your trading related queries.
This is not all. Zerodha has a few more aces in its sleeve. It's not a flesh in the pan, but its technology from grounds up approach that has propelled it to be the largest discount broker and be among the top four brokers of India.
More of this when we meet again, Meanwhile, Try out this brokerage platform. Start with the knowledge bank Varsity and ride on the technological advantages Kite provides. Get your queries solved fro nTradingQ&A section. Happy trading .
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