Ninja technique for a no annual maintenance cha...

Ninja technique for a no annual maintenance charge requiring Demat cum Trading account (SEBI guidelines)(edit: free Zerodha trick)

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Deal Subedar
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Many of you covet to have an account with reputed brokers, yet you back off after seeing the annual maintenance charges.
Sebi has made this scheme for yaa. You read it right. And the link is here.
https://www.sebi.gov.in/media/press-releases/au...

Gist of the topic in the link is
1. BSDA Basic Services Demat Account is a kind of account aims at small investors. You must have only one demat account. If you possess two or more then you aren’t eligible. But if that demat account is in your family members’ name n you open your own then you are eligible.
2. If your net amount of your stock portfolio ( say you have 10 sbi shares, 2 eicher shares, like that. Add the total value) in a financial year is less than 50000 then no annual maintenance charges will be charged from you.
3. If your portfolio value is from 50001 to 200000 then you ll be charged within 100. Maybe GST ll be added on top of that. I am not sure. Ask the broker.
4. Who are the eligible participants? All the depository participants have to obey it. 🙂
I ll not say which broker you should have. There are a few tip I would like to give.
1. If you are a newbie forget about intraday, Futures n Options, commodity n currency( futures n options). You won’t be successful. But in special events such as election you gonna make crazy money. But that’s it. Beyond it don’t even think about it. In the last election, I remember I withdrew my position at 10:45. After 11 both side came down. It was expiry week for banknifty n Nifty. Man it was scary. Those who joined the return of Modi band wagon celebration returned with 0 money that day. Modi got majority seats n both put n call side of bank Nifty n Nifty reduced to 0. Experienced traders sold on both side. They looted common traders. So think wisely. Those who bought some call option of bank Nifty on that day for the next week made crazy money too, I mean the next day. That’s how these things work. Nobody gonna tell you these things. Mark my words. Stay away until you are ready.
2. Tips don’t work that well. I can remember Motilal Oswal securities’ Ramdeoji saying loss in Tata Motors is nominal. Some people gave crazy targets. When it was trading at 200+ people were like you won’t get these levels anytime soon. You know what’s the truth. 🤪
3. A lot of people keep on talking about brokerage charges. They ll hurt you if you are taking a huge quantity. If you are still testing the water, pay the premium. It’s worth it.( I use Zerodha. I won’t prescribe it to a new commer)
4. Make NSE n BSE your best friend. Read those reports. Big players disclose about their trades. So, you ll get an idea about where is the trend at.
5. Don’t get disheartened with loss. It’s a part of the game. Say I am poor I can bear with 5₹ losss n you are rich n you can bear with 50₹ loss. Then be prepared to take that loss.
6. If I post a deal about a dell laptop with core i3 7th gen, costing only 30000, would you take it? Most of you gonna kill me in comments section. And you should because the deal is a bad one. In the same manner ask yourself about the price at which the stock is available. Don’t try to buy a stock when it has made a fresh high. HUL made fresh high yesterday. Shall I buy it now? I should have bought it 3-4 months ago. But not now. A Common issue about shares is, when a stock is making highs after highs people think, this ll not gonna come down. But they do. Similarly when a stock is good but down nevertheless, people think no it’s shit. But it goes up 10-20% in next few months. It becomes a hot pick. For ex when Avenue Supermart came down to 1100 level few months back people were like oh no. They exited their position, some ignored. Those who took it at those levels are seating at 900₹ profit per share. I am not one of those people. I also ignored it. But these things are the lessons you need.
7. One good universal thing Zerodha has done is by making Varsity free of cost. https://zerodha.com/va...y/ you ll get everything about how stock, fno, bourses work. Educate yourself there. It’s a solid learning platform.
8. Look around you. Look at your Pulsar motorcycle’s rear suspension gas canister. You can see a name Endurance. Google em. https://www.moneycontrol.com/stocks/marketinfo/... this is an exhaustive list of stocks traded in our bourses in each segment. Try to invest with market leaders only. That’s your stock tip. I started like that only.
That’s all I wanted to say. Stay positive. Nobody makes money with a negative attitude. 🙂
Edit
If you want to open free Zerodha acc, I don’t recommend anything but since I use it I can share a bit of info. Just open your acc online. Complete the profile but don’t pay anything. Goto a local branch of you have any. Give the necessary docs. They ll open an account for yaa. And while opening don’t opt for FNO n Commodity n Currency. In a week you have your acc ready. They ll say that they ll deduct the acc opening money from your account. In my case they did not take any money, neither from my friends who opened account using this technique. If you are interested in fno n Commodity, you should enable them though to exploit certain market conditions, then latter give em an application that’s it. They ll say they gonna deduct 200-300 money for commodity section but they neither charged from me nor from my friends. In my opinion Zerodha is a sniper rifle which comes with less guides n relies upon your expertise. You ll be a bit uncomfortable at first. So, if you are genuinely interested in Zerodha then follow the trick. And may be the trick won’t work for you, if it happens then please have my sincere apology.

26 Comments  |  
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Deal Subedar
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You got this right. No offence, but many people, having experience of 4-5 years in stock market, don’t know about this. plus1

+kg pending, for digging so much into it. Only few ones do.

Also, for additional info Discount brokers themselves categorise such eligible accounts as bsda at the end of the fy. But the big fuckers like Sharekhan, edelweiss, they just want to Suck the money out of small retail. They don’t follow the norms. I’m in middle of one such case, the demat where I sold irctc recently, is in Sharekhan. My friend has only 1 demat on his pan card across all the DPs. Suckers charged 2 years AMC, around 1k. I’m so furious rn, I called up the cc and I’m yet to receive call from the Sharekhan branch head.
The thing is such minute detail isn’t communicated so much in public coz ofcourse vested interest in form of huge revenue. Genuine People need to be aware.
That’s the reason I like Zerodha and Upstox and opened dozen accounts of my family members in them, that they categorise your account automatically if it falls under the criteria.

P. S. – If one wants to read the notification in detail , simply google
~ BSDA CIRCULAR 2012
~ BSDA CIRCULAR 2015

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BubbleBoyChickenLittle wrote:

You got this right. No offence, but many people, having experience of 4-5 years in stock market, don’t know about this. plus1

+kg pending, for digging so much into it. Only few ones do.

Also, for additional info Discount brokers themselves categorise such eligible accounts as bsda at the end of the fy. But the big fuckers like Sharekhan, edelweiss, they just want to Suck the money out of small retail. They don’t follow the norms. I’m in middle of one such case, the demat where I sold irctc recently, is in Sharekhan. My friend has only 1 demat on his pan card across all the DPs. Suckers charged 2 years AMC, around 1k. I’m so furious rn, I called up the cc and I’m yet to receive call from the Sharekhan branch head.
The thing is such minute detail isn’t communicated so much in public coz ofcourse vested interest in form of huge revenue. Genuine People need to be aware.
That’s the reason I like Zerodha and Upstox and opened dozen accounts of my family members in them, that they categorise your account automatically if it falls under the criteria.

P. S. – If one wants to read the notification in detail , simply google
~ BSDA CIRCULAR 2012
~ BSDA CIRCULAR 2015

They ll show some intraday profit results with huge grin n polite voice. They don’t communicate these details to anyone. When I opened my account with Zerodha, they asked me to attend a seminar. A trader started talking about Mini Crude 😁😁. He talked about RSI and parabolic SAR instead of walking us through basics. When I opened my account, I read the fine print on the application form. The Zerodha executive explained me about the BSDA scheme. He was talking about automatic detection of BSDA accounts. So, while opening an account one must specify explicitly about these things, if the broker agrees then fine else one ld look somewhere else. 🙂

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@bikidas2060580 you seem to have good knowledge on this topic.
i have account in angel broking but they were charging huge brokerage , in many cases total brokerage in options trade was more than actual profit . when i noticed it on the contract note, i called and they said this was old brokerage and now they have 15 / 30 rs flat brokerage called iTrade and i can switch to that plan.
when asked why they did not automatically move to this one, there was no satisfactory answer.

and you are right about the FnO trades, it’s not for newcomers. I have been trading from quite some time but always in cash equity segment – delivery or intraday.
I recently went into some depth on FnO and discovered its very fast moving stuff. It is rightly called Hero or zero.

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Deal Subedar
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BSDA this word is enough to keep away charges

Roger federer photos 9 150x150
Deal Subedar
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good find

but the risk is too much in direct trading without in depth market research.

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rogerthat wrote:

good find

but the risk is too much in direct trading without in depth market research.

Bhai agreed. But I see posts like 500 reward per refer for some acc, and they run in hot deal section. I thought people must know, there is way to have a free acc with reputed brokers too. 🙂 And bhai without research or advice one should not touch stock market directly. Mutual fund jindabaad

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hackerboys wrote:

BSDA this word is enough to keep away charges

Yes sir. 🙂😍

Desi
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Thanks for the info, though I was aware about this BSDA thing but not completely, as I never felt the need.
Because the broker (finvasia) I trade with doesn’t charge any AMC, it is free for lifetime. Plus there is no condition on the holding amount (like in BSDA), it is zero for all.

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JmaDesi wrote:

Thanks for the info, though I was aware about this BSDA thing but not completely, as I never felt the need.
Because the broker (finvasia) I trade with doesn’t charge any AMC, it is free for lifetime. Plus there is no condition on the holding amount (like in BSDA), it is zero for all.

In Zerodha trading platform, delivery charges are zero. In your case you gotta pay for your platform, bracket order etc. I was looking at your broker’s page.

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JmaDesi wrote:

Thanks for the info, though I was aware about this BSDA thing but not completely, as I never felt the need.
Because the broker (finvasia) I trade with doesn’t charge any AMC, it is free for lifetime. Plus there is no condition on the holding amount (like in BSDA), it is zero for all.

I love Chacha Chaudhary n rocket

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Good post.

Desi
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Thanks stuck_out_tongue smile

Desi
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bikidas2060580 wrote:

In Zerodha trading platform, delivery charges are zero. In your case you gotta pay for your platform, bracket order etc. I was looking at your broker’s page.

Zerodha give zero brokerage for delivery only and finvasia is giving zero brokerage in both delivery as well as intraday. And for platform, I think they have not updated their website, as their platform charges are also zero and I don’t use BO so no extra cost of me.

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JmaDesi wrote:

Zerodha give zero brokerage for delivery only and finvasia is giving zero brokerage in both delivery as well as intraday. And for platform, I think they have not updated their website, as their platform charges are also zero and I don’t use BO so no extra cost of me.

Zerodha gives very good tools, indicators etc. But I will definitely look for your broker. smile

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JmaDesi wrote:

Zerodha give zero brokerage for delivery only and finvasia is giving zero brokerage in both delivery as well as intraday. And for platform, I think they have not updated their website, as their platform charges are also zero and I don’t use BO so no extra cost of me.

and bhai if possible please post some photos of the trading platform

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thank u for all the inputs… appreciate it

Desi
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bikidas2060580 wrote:

Zerodha gives very good tools, indicators etc. But I will definitely look for your broker. smile

They are offering two trading platforms ATM, Scalpert (their in-house trading platform) & omnysys NEST.
Earlier I was using scalpert only, since now they have made NEST also free so I use both (not simultaneously though).

And can’t attach screenshots as I don’t see any such option here, you can check tutorial videos of their platform on youtube if you want.

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JmaDesi wrote:

They are offering two trading platforms ATM, Scalpert (their in-house trading platform) & omnysys NEST.
Earlier I was using scalpert only, since now they have made NEST also free so I use both (not simultaneously though).

And can’t attach screenshots as I don’t see any such option here, you can check tutorial videos of their platform on youtube if you want.

Take some photos the . If possible.

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I didn’t get it where is trick to open basic services demat account ? How to open ac ?

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iamshashikant wrote:

I didn’t get it where is trick to open basic services demat account ? How to open ac ?

First you create an online account with Zerodha.
Don’t pay them anything.
Complete the process by visiting them personally
This is the trick. You ask them for BSDA n you ll get one.
After the procedure you ll pay zero rupees for acc opening 😁🙂

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bikidas2060580 wrote:

First you create an online account with Zerodha.
Don’t pay them anything.
Complete the process by visiting them personally
This is the trick. You ask them for BSDA n you ll get one.
After the procedure you ll pay zero rupees for acc opening 😁🙂

Their office in Bangalore can’t visit personal

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iamshashikant wrote:

Their office in Bangalore can’t visit personal

Search in the google.

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For the interested people…they can go for UPSTOX….it is similar like Zerodha…but works better then Zerodha…

Delivery brokerage is ZERO.
Intraday and FO is 20 rs per trade…

I am an authorized partner…and if you open the account with my ref id then account opening is free…

Also use promocode NOV300 to get first 300 brokerage back as well…

Ping me if you are interested…I can share my partner code

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asaus8 wrote:

For the interested people…they can go for UPSTOX….it is similar like Zerodha…but works better then Zerodha…

Delivery brokerage is ZERO.
Intraday and FO is 20 rs per trade…

I am an authorized partner…and if you open the account with my ref id then account opening is free…

Also use promocode NOV300 to get first 300 brokerage back as well…

Ping me if you are interested…I can share my partner code

Why bhai is it better than Zerodha? I know Upstox is a good broker. I need to know, the reason too

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bikidas2060580 wrote:

Why bhai is it better than Zerodha? I know Upstox is a good broker. I need to know, the reason too

You might have seen Zerodha going down multiple times during market hours…I know atleast 3 instances in last 4 months…

If you are an investor then you wont mind…but if you are a trader then definitely it is a big thing

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asaus8 wrote:

You might have seen Zerodha going down multiple times during market hours…I know atleast 3 instances in last 4 months…

If you are an investor then you wont mind…but if you are a trader then definitely it is a big thing

Naah. Other brokers go down too. 🙂 And people should avoid trading on volatile days. Anything might happen.

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