Setup 2factor Security Zerodha

[Elwanda Menhennett]

Zerodhais SEBI regulated, meaning it complies with the trading regulations and standards set out by the Securities and Exchange Board of India. It is also a member of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India, providing traders with access to thousands of stocks.

Kite is the proprietary trading platform offered by Zerodha, which is integrated with the algorithmic trading platform Streak. Kite is the platform used by all Zerodha customers, as the previous platform Pi is no longer supported. Though Kite is a web-based platform, it can also be turned into a desktop app, including for Mac and Windows 7.

Trading on the Zerodha Kite platform is straightforward, due to its clean user interface and intuitive layout. The charting tools are impressive and comparable to the industry-favoured MetaTrader 4 and 5 platforms. Kite offers 6 chart types and over 100 indicators at various timeframes, including the popular 4-hour chart. Traders also have access to Level 3 (20 depth) as well as Level 2 data.

Good Till Triggered (GTT) orders are a feature developed for the Kite platform that allows traders to create triggers to enter and exit stock holdings. They can be used in combination with a stop loss, where the triggering of one cancels the other. There are no charges for using the GTT feature.

Integrated into Kite is Streak 4.0 which replaced Streak 3 at the end of 2020. The software offers algorithmic trading, allowing traders to set up automatic trades, even without programming knowledge.

Console is the back office trading account platform that has replaced the Q profile system. It provides a centralised dashboard and reporting tool for account information, analytics and visualisations.

Traders have access to IPOs using Console; previous examples include the Yes Bank and Zomato IPOs. However, customers cannot check IPO application status for upcoming company IPOs. Console is also the place where users can update personal information, such as email ID.

Coin is a platform that allows traders to buy direct mutual funds online through their demat account, without paying commission charges. Clients can invest in New Fund Offerings (NFOs) directly from the Coin platform. Similarly to Kite, Coin is rated highly for its ease-of-use and smart interface, also receiving positive reviews from Quora users.

Traders are not able to invest in foreign stock exchanges (including US and UK stocks and indices, such as the S&P 500), but can invest in international mutual funds to gain exposure to foreign markets.

The charting functionality available through the app is impressive, and Zerodha has focused on developing an application that is responsive and intuitive. However, there are still reports of bugs in the latest releases.

Traders can use the eMandate functionality to automatically deposit funds from their bank account to their trading account, for which currently there are no charges. There are also no minimum deposit requirements imposed by Zerodha.

Zerodha has a referral program where traders can earn 10% of the brokerage paid by the friend that they refer, which can be withdrawn to a bank account. Referrers also get 300 reward points for each registration of a new account.

In the past, Zerodha has held challenges such as the 30, 50, 60 and 90-day trading challenges, where the aim is to be profitable at the end of the respective time periods. After these events take place, winners receive a digital pdf certificate for their efforts. Note that the challenges are non-refundable.

Zerodha is regulated by SEBI, The Securities and Exchange Board of India. SEBI is a highly rated regulator that mandates the Know Your Customer (KYC) process, which can be done on the Zerodha Re-KYC page. SEBI also requires In-person Verification (IPV), which requires traders to have access to a webcam or mobile camera.

Varsity is an educational platform that provides in-depth information about trading, through a series of 12 university-style modules. It is an excellent resource for learning new trading concepts, for both beginners and more experienced traders. For example, it explains concepts such as the clearing and settlement process (which covers T+1, T+2 and T+5 trading days), F&O shorting, 52-week highs and lows, and tips for putting up a strong defence.

Traders can also pledge approved securities (stocks and ETFs) as collateral margin for trading futures and options. Margins are provided after a specified deduction, called a haircut. The applicable haircut for each stock is listed on the Zerodha website.

Kite Connect provides HTTP/JSON APIs that can be used to build personalised trading platforms, using Kite live market data. This means traders are not necessarily restricted to using the Kite platform and data in its current format.

Sentinel is a notifications service that creates market notifications for a variety of assets including stocks, futures and options. Notification can be set up via email, on Kite Web, or by mobile push notification.

Traders can open a demat account by entering their mobile number on the website. Opening a Non-Resident Ordinary (NRO) or Non-Resident External (NRE) account is also possible for non-resident Indians (NRI), though the process involves approaching a Zerodha partner bank to obtain a Portfolio Investment Scheme (PIS) permission letter.

The Zerodha IDFC FIRST 3-in-1 account is a single account that combines a trading, demat and bank account, for seamless investing. Usually, stockbrokers only offer a 2 in 1 account consisting of a trading and demat account. The key benefits of the 3 in 1 account are the ability to carry out fast and free fund transfers, with no upper limits.

Each demat account comes with a unique Beneficiary Owner (BO) 16 digit client ID, where the first 8 digits are the user Depository (DP) ID for the depository participant member. Customers can open joint accounts with a maximum of three account holders. To add a nominee to a trading account, clients must submit a nomination form.

Traders can activate their TPIN in Zerodha (a six-digit password) which is an alternative to the Power of Attorney (PoA). This permits Zerodha to withdraw shares from the 3 in 1 account when they are sold.

Trading hours are dependent on the market being traded, for example, normal currency trading is 9-5 pm. Traders can find the full trading hours including a 2024 trading holidays calendar on the Zerodha website.

Alternatively, customers can call the telephone helpline (10 am-7 pm) or find the head office (H.O.) and mailing address on the website (located in J.P Nagar, Bangalore). There are also Zerodha branches across India including in Kochi and Bengaluru.

Zerodha has two different bank accounts to maintain separate balances for Equities and Commodities accounts, as per SEBI regulations. Customers can also enable two-factor authentication (2FA) using the Google Authenticator, or a Time-based One-time Password (TOTP).

Zerodha is a technology-first brokerage, best known for its Kite trading platform, Coin mutual funds platform and Varsity educational program. It is regulated by the Securities and Exchange Board of India.

Zerodha is a great option for traders looking for an easy-to-use platform, across a wide range of assets. Zerodha is also registered with SEBI, meaning it has to comply with standards set out by the regulator.

To sign in to Zerodha online, visit the console.zerodha.com and kite.zerodha.com websites for Console and Kite respectively. On the following page, enter your login ID and password, and answers to your 2 Factor Authentication (2FA) security question if required.

Traders can look up the answers to a huge range of questions on the Zerodha support portal, including for any login issues. Unfortunately, Zerodha does not provide a live chat support service, though customers can call the support line or write to the Zerodha address in India.

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