India’s largest stock brokerage platform, Zerodha, has good news for options traders. Starting July 24, Sensibull will be 100% free for all Zerodha users, forever. Taking to Twitter Zerodha’s Nithin Kamath on Monday announced that Sensibull will be free for all Zerodha options traders.
“We have good news for all @zerodhaonline option traders,@BeSensibull will now be completely free. We cover the costs so that @abidsensibull & Team can focus on only one thing: Help option traders do better,” Kamath tweeted.
Sensibull CEO and co-founder Abid Hassan said in a tweet on Monday.“This is the biggest and the most exciting news since we started Sensibull in 2017. Starting today, Sensibull will be 100 per cent free for all Zerodha users, forever.”
He added that users get access to the country’s best options trading platform for free, Zerodha gives their options traders the best user experience, and we get paid too as a business. “Everyone wins!”
What is Options trading
Options are a form of derivative contract that gives traders the right to sell or sell the equity at any time during the duration of the contract i.e. one has the right but not an obligation to buy or sell the security. Option buyers are charged an amount called a premium by the sellers for such a right. There are two types of options: the ‘call’ option where a trader has the option to buy the stock at the predetermined price anytime during the contract and the ‘put’ option where the trader has the option to sell the stock when it reaches a specific price.
Zerodha- Sensibull deal: FAQs
Is this free forever?
Yes
Are there any other charges at all?
No, there are no charges at all for using Sensibull for Zerodha users. For trading, you have to pay the normal charges that you pay Zerodha – Rs.20 per order – whether you trade from Kite, or directly from Sensibull
Why is it good for the user?
Very simple. Sensibull does not have to think of making a yearly profit from subscriptions or selling more of our product. We only have one mission – Improve the lives of traders, try to make them profitable, and do what is truly good for our users.
Sebi working on instant settlement of stock market transactions
The Securities and Exchange Board of India (Sebi), announced that it will move to a T+1 settlement cycle for all scrips, effective October 1, 2023. This means that trades will be settled one day after the date of the trade, instead of the current two-day settlement cycle.
Sebi Chairperson Madhabi Puri Buch also said the capital markets regulator is working on instant transaction settlement in the stock markets. Buch said the day is not far off when stock market transactions will be settled instantaneously.
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Updated: 25 Jul 2023, 10:09 AM IST