Zerodha Nest Download

sir,

I am new to zt, and before reading this blog, I installed and registered nest plus. (However, note that if you register with Nest Plus on your own as an individual, you will not get to use algoZ for free) can i cancel that registration and in anyway can i get the nestplus features (including algoz) available for zerodha clients.

I have recently opened an account with you .I installed the ZT software and made a nest plus ID of my own as I dint knew that zerodha automatically maps it. I supposed I had to register for Nest plus myself. So I wont be able to use algoZ and other softwares ? Is there any other way to use algoZ for free ? Also what other features I will be missing out on ?

Download Zip 🔥 https://urlgoal.com/2y3iBj 🔥

I just got my Zerodha trading account last week. Loving it.

I hope Zerodha registers me for my nest plus account. I understand from Zerodha support there is some server issue in registering. Any tentative timelines by when this would be resolved?

Hi Nitinji

I am with jirodha from a year but not explored nest plus earlier. I installed the ZT software and made a nest plus ID of my own as I dint knew that zerodha automatically maps it. I supposed I had to register for Nest plus myself. I want it through zerodha only. please help.

I am getting log in failure error in Nest plus.

day chart is also not working.

I tried re-installed Zerodha and Nest plus same problem. And followed zerodha mail. to copy and pasted the nest folder still no use.

From the past three days i am unable to use the nest plus charts for NSE AND CDS Scrips. It works well for MCX But nse scrips it works only for one minute chart if i try to select a higher time frame above that . The software crashes with a error report with the following log ,

I have opened my ZT account. How will i know that my ZT trading account is mapped with Nest Plus? What is the username and password for Nest Plus? i have tried login nest plus with my Zerodha id for both username and password but it does not work. Please help.

Hi NITHIN,

As you said , Pi will be good only after 1st January ,leaving us with no other option than to use ZT.

On top of it ,with the new update of zerodha trader and nest plus , everything has gone out of place.

sir,

how to backtest strategies in nest trader v 3.11.4 (i downloaded from the downloads section).

i chked in youtube, but the strategy option in right click menu is not present.

and also tell how to use it in pi for a longer time frame.

I have account in zerodha I need to use zerodha nest plus trader tool but I cant register. When click register link it automatically redirect to -services/financial/nest/retail.html this page what is the procedure to register zerodha nest plus trader tool.

Support service seems to be slower than its expected in stock markets. i have open ticket which is not being replied. Timely Technical guidance is expected where even the client should be happy and even zerodha by generating revenues of clients trades. Feeling sick looking at slow response.

1. ZT has charting will suffice from beginner to intermediate charting. It has almost 50 different indicators. But note that the charting on ZT and Z5 is completely different. on Z5 there is very basic charting , hence I mentioned above that ZT should be your first priority. [Click here]( -connect/blog/view/charting-nest-starter-pack)

Hai zerodha,

The very most important chart for Nifty and bank nifty not available in zerodha trader platform. Equity stock chart can see history chart, like this nifty chart is present it will be better. Kindly provide possibity to view nifty history chart. Thanks in advance

dear sir

i have a little inconvenience while squaring off.my position through zt .i use to buy options of underlying. but there is no option of squarring off my postion directly from admin position toolbar .like if i hold carryforward reliance 840ce 1 lot.and some day i think that is available at cheap price i buy one more lot .than total postion becomes 2 lot 840 ce like wise other positions accordingly.b ut at the time of selling my position i need to be very careful to square off same option and same lot i hold. To avoid any short position .if zerodha trader had a option of square off button if infront of every position at admin position that would simplify trader (like me) work without any error .i am always afraid of while squaring off my position .kindly look into this matter

Hello Nithin,

Firstly reduced charges is a great news. thanks. My query relates to nest charting. When I tried to add 3EMA and 15 EMA in a daily live chart, 15 ema not seen in the chart. How to solve this. I want a crossover of 3EMA and 15 EMA in a Daily live chart. Please help me out.

Can i expect zerodha trader with interactive charts with all the indicators for intraday on an android tablet sooner??? I work in a s/w org and cant install the zerodha trader tool to watch the live interactive charts and in the zerodha mobile as well i dont have this option.

i hAVE downloaded updated version 2.9 of nest plus and SUCCESSFULLY run it on my system still when login into zt either i got the message about updating nest plus or give password to login. called to customer care 2 /3 times but no no one is there to receive

1 )yesterday i got email from zerodha that my trading account is open after that i installed zerodha trader b i changed my passsword it just open nsefo & cds script not equity script is that because trading account cant possible to trade in equity

2 ) how much day still needs to open dmat account

3)before i using nest3 with nestpluse thats why i already have nest plus id &

Dear Mr.Rajandran,

I using zerodha trading platform with nestplus, could you pls. give the afl code for ichimoku strategy for nifty futures for zerodha algo z , as you know that it is different from amibroker code.

IN 2013, STANFORD UNIVERSITY students Baiju Bhatt and Vlad Tenev came together to build a mobile stock trading app, Robinhood, which proved to be an instant hit among retail investors in the U.S. In an industry plagued with high transaction and broking charges, Robinhood created a niche for itself since its commercial launch in 2015. But the saga did not make for a happy reading.The company, which raised $5.6 billion from private investors prior to the IPO, is floundering. From its public issue price of $38 a share in July 2021, the stock is down 90% from its high of $85 and 73% from its IPO price to $10.39 (January 27, 2023).For an app that has notched up 22.9 million users with 12.2 million monthly active users, the meltdown has its reasons.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/4621bf4b-c957-4a4e-9d49-0ec736d043ba","type":"text","family-id":"3f041192-97f3-49f4-992d-2027c0422f60","title":"","id":"4621bf4b-c957-4a4e-9d49-0ec736d043ba","metadata":[],"subtype":null,"text":"IN 2013, STANFORD UNIVERSITY students Baiju Bhatt and Vlad Tenev came together to build a mobile stock trading app, Robinhood, which proved to be an instant hit among retail investors in the U.S. In an industry plagued with high transaction and broking charges, Robinhood created a niche for itself since its commercial launch in 2015. But the saga did not make for a happy reading.The company, which raised $5.6 billion from private investors prior to the IPO, is floundering. From its public issue price of $38 a share in July 2021, the stock is down 90% from its high of $85 and 73% from its IPO price to $10.39 (January 27, 2023).For an app that has notched up 22.9 million users with 12.2 million monthly active users, the meltdown has its reasons."},{"description":"","amp-html":"The pandemic-fuelled boom in retail trading is fizzling out. Further, Robinhood\u2019s revenue stream from cryptos is in question. Not just that \u2014 it is blowing away money. In 2021, the brokerage firm incurred a $862 million loss on a net revenue of $978 million in the nine months of 2022.The deep red is on the back of unbridled operating expenses of $1.3 billion. Neither a FAANG challenger nor a Salesforce in the making, yet the company spent half a billion ($529 million) on technology and development, and general and administrative expenses cost it another $728 million. Irony is that these numbers come amid a layoff of 31% of Robinhood\u2019s workforce (now at 2,400). Though Tenev took the blame by stating, \u201cthis is on me\u201d in August 2022, the turn of events was expected from a firm whose ambitions were given wings by hungry VCs, including the likes of Andreessen Horowitz, DST Global, New Enterprise Associates, and Tim Draper.Back home, the Bengaluru-based Kamath brothers, Nithin and Nikhil, have done something similar by leveraging tech to disrupt the broking industry with their no-frills app, Zerodha.But the difference between the two is how the brothers have built their business. Robinhood\u2019s free commission compromised the interest of its clients as the U.S. Securities Exchange Commission revealed that the company sold order flow to the market maker that gave it the best rebate rather than the one that offered the best price for its clients. The Kamath brothers, on the other hand, have avoided all the pitfalls made by Robinhood in its quest for supremacy.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/1ca5a578-6555-4778-8331-fe77771eefc6","type":"text","family-id":"c41201e3-4174-473c-a5f0-58da79124dbd","title":"","id":"1ca5a578-6555-4778-8331-fe77771eefc6","metadata":[],"subtype":null,"text":"The pandemic-fuelled boom in retail trading is fizzling out. Further, Robinhood\u2019s revenue stream from cryptos is in question. Not just that \u2014 it is blowing away money. In 2021, the brokerage firm incurred a $862 million loss on a net revenue of $978 million in the nine months of 2022.The deep red is on the back of unbridled operating expenses of $1.3 billion. Neither a FAANG challenger nor a Salesforce in the making, yet the company spent half a billion ($529 million) on technology and development, and general and administrative expenses cost it another $728 million. Irony is that these numbers come amid a layoff of 31% of Robinhood\u2019s workforce (now at 2,400). Though Tenev took the blame by stating, \u201cthis is on me\u201d in August 2022, the turn of events was expected from a firm whose ambitions were given wings by hungry VCs, including the likes of Andreessen Horowitz, DST Global, New Enterprise Associates, and Tim Draper.Back home, the Bengaluru-based Kamath brothers, Nithin and Nikhil, have done something similar by leveraging tech to disrupt the broking industry with their no-frills app, Zerodha.But the difference between the two is how the brothers have built their business. Robinhood\u2019s free commission compromised the interest of its clients as the U.S. Securities Exchange Commission revealed that the company sold order flow to the market maker that gave it the best rebate rather than the one that offered the best price for its clients. The Kamath brothers, on the other hand, have avoided all the pitfalls made by Robinhood in its quest for supremacy."},{"description":"","amp-html":"","image-metadata":{"width":1908,"height":2379,"mime-type":"image\/jpeg","file-size":663589,"file-name":"Zerodha 4.jpg"},"page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/cd9f1ac4-d88a-4d63-b9f7-8c5e4e61ab88","type":"image","family-id":"fc75ed2b-3e3a-474c-ae7e-48512569facb","image-attribution":"","title":"","id":"cd9f1ac4-d88a-4d63-b9f7-8c5e4e61ab88","hyperlink":null,"image-s3-key":"fortuneindia\/2023-02\/9d30c923-8716-48dc-bb1e-48e6ee192d97\/Zerodha_4.jpg","metadata":[],"subtype":null},{"description":"","amp-html":"Bootstrapped from Day Zero, Zerodha has not only outsmarted traditional brick and mortar broking firms, but is also way ahead of other online rivals, Upstox and Groww. What makes it stand out is its financial performance \u2014 raking in profits of \u20b92,094 crore on a revenue of \u20b94,964 crore in FY22 (See: Neighbour\u2019s envy, owner\u2019s pride).Having beaten bank-backed brokerages, including ICICI Securities, Kotak Securities and HDFC Securities, Zerodha is a case study of how new-age consumer tech businesses can be built profitably instead of the burn-your-way-to-growth VC model. Not surprising Nithin, too, had VCs reaching out to him for a tango. \u201cI have spoken to almost all VCs, but hearing our philosophy around raising capital and running the business, the conversation never reached valuation talks,\u201d says the 43-year-old, whose father was a branch manager at Canara Bank and mother a music teacher.The \u201cphilosophy\u201d in some sense is the invisible moat around Zerodha, whose founders, including 36-year-old younger brother Nikhil, have been valued at \u20b914,130 crore in the Fortune India-Waterfield Advisors 2022 ranking of dollar billionaires.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/73358594-ad60-4bd4-aa51-ed5760bcaee6","type":"text","family-id":"c0c9074d-aeb1-41dc-84d5-003fe2014892","title":"","id":"73358594-ad60-4bd4-aa51-ed5760bcaee6","metadata":[],"subtype":null,"text":"Bootstrapped from Day Zero, Zerodha has not only outsmarted traditional brick and mortar broking firms, but is also way ahead of other online rivals, Upstox and Groww. What makes it stand out is its financial performance \u2014 raking in profits of \u20b92,094 crore on a revenue of \u20b94,964 crore in FY22 (See: Neighbour\u2019s envy, owner\u2019s pride).Having beaten bank-backed brokerages, including ICICI Securities, Kotak Securities and HDFC Securities, Zerodha is a case study of how new-age consumer tech businesses can be built profitably instead of the burn-your-way-to-growth VC model. Not surprising Nithin, too, had VCs reaching out to him for a tango. \u201cI have spoken to almost all VCs, but hearing our philosophy around raising capital and running the business, the conversation never reached valuation talks,\u201d says the 43-year-old, whose father was a branch manager at Canara Bank and mother a music teacher.The \u201cphilosophy\u201d in some sense is the invisible moat around Zerodha, whose founders, including 36-year-old younger brother Nikhil, have been valued at \u20b914,130 crore in the Fortune India-Waterfield Advisors 2022 ranking of dollar billionaires."},{"description":"","amp-html":"Playing It StraightA combination of English and Sanskrit words \u201czero\u201d and \u201crodha\u201d (obstruction),\u201d Zerodha began 12 years ago by offering equity trades both for traders and investors at \u20b920 per trade, becoming the country\u2019s first discount broker. Down the line, they made delivery trades free and limited \u20b920 to only equity and F&O trades.In doing so, between FY11 and FY12, Zerodha\u2019s customer base grew from 1,500 to 110,000. But the twin effect of Jio\u2019s aggressive data plans and Aadhaar-enabled verification proved to be a turning point from 2016. Physical forms paved the way for seamless onboarding of customers. The effect was visible when in just one year (FY17), new customer additions stood at 170,000 \u2014 more than what Zerodha had cumulatively added since its inception. Since then, there has been no looking back, with the brokerage seeing a 10x jump from 1 million in 2019 to 10.2 million users as of September 2022.Nithin, who initially started out as a franchisee of Reliance Money, is cognisant of the fact that the fortunes of his business are intricately linked to market sentiment. \u201cIf you map the mid-cap index and our customer addition graph, it is very clear that when there is a market frenzy, there are more sign-ups,\u201d he admits.Hence, in a business where sentiments can change overnight, the only way to keep growing profitably is to keep costs under control.As a rule, the firm stayed away from two big cash guzzlers \u2014 especially for start-ups \u2014 advertising and marketing spend, besides aggressive hiring.Nithin knows the game well when he says: \u201cOne can stop marketing costs at any point of time but not your human cost. You can\u2019t be just hiring and firing. So, we\u2019ve been very conscious of that aspect.\u201d","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/a4313a50-1bea-446f-9296-f748446a63c5","type":"text","family-id":"a28fa86a-acaf-40bf-9eee-8ba9141ed65a","title":"","id":"a4313a50-1bea-446f-9296-f748446a63c5","metadata":[],"subtype":null,"text":"Playing It StraightA combination of English and Sanskrit words \u201czero\u201d and \u201crodha\u201d (obstruction),\u201d Zerodha began 12 years ago by offering equity trades both for traders and investors at \u20b920 per trade, becoming the country\u2019s first discount broker. Down the line, they made delivery trades free and limited \u20b920 to only equity and F&O trades.In doing so, between FY11 and FY12, Zerodha\u2019s customer base grew from 1,500 to 110,000. But the twin effect of Jio\u2019s aggressive data plans and Aadhaar-enabled verification proved to be a turning point from 2016. Physical forms paved the way for seamless onboarding of customers. The effect was visible when in just one year (FY17), new customer additions stood at 170,000 \u2014 more than what Zerodha had cumulatively added since its inception. Since then, there has been no looking back, with the brokerage seeing a 10x jump from 1 million in 2019 to 10.2 million users as of September 2022.Nithin, who initially started out as a franchisee of Reliance Money, is cognisant of the fact that the fortunes of his business are intricately linked to market sentiment. \u201cIf you map the mid-cap index and our customer addition graph, it is very clear that when there is a market frenzy, there are more sign-ups,\u201d he admits.Hence, in a business where sentiments can change overnight, the only way to keep growing profitably is to keep costs under control.As a rule, the firm stayed away from two big cash guzzlers \u2014 especially for start-ups \u2014 advertising and marketing spend, besides aggressive hiring.Nithin knows the game well when he says: \u201cOne can stop marketing costs at any point of time but not your human cost. You can\u2019t be just hiring and firing. So, we\u2019ve been very conscious of that aspect.\u201d"},{"description":"","amp-html":"","image-metadata":{"width":1908,"height":1728,"mime-type":"image\/jpeg","file-size":270621,"file-name":"Zerodha 2.jpg"},"page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/670b8249-c879-4c99-af16-7926b332e6fb","type":"image","family-id":"bd82a054-c260-459e-889b-7a8f3f051ae7","image-attribution":"","title":"","id":"670b8249-c879-4c99-af16-7926b332e6fb","hyperlink":null,"image-s3-key":"fortuneindia\/2023-02\/e60eae6b-a9ca-4ca4-a496-c5ee5ea91302\/Zerodha_2.jpg","metadata":[],"subtype":null},{"description":"","amp-html":"For instance, take the case of Upstox, which claims to have crossed 10 million customers in June. The Mumbai-based company became a Unicorn last November when it raised $25 million in a Series C round led by Tiger Global at a valuation of $3.5 billion. While financials for FY22 are not available, a five-time jump in business promotion expenses to \u20b9113 crore saw losses widen 89% to \u20b972 crore even as revenue nearly tripled to \u20b9429 crore in FY21. One of the big costs was advertising and marketing as the firm tied for cricketing events with the ICC, BCCI and Tamil Nadu Premier League. \u201cWe have a plan of getting profitable in the next two years. We can speed that up or we can slow that down. It\u2019s just a matter of how much you also want us to scale up,\u201d one of its three co-founders Shrini Viswanath was quoted as saying. But given the start-up\u2019s ambitious plans of adding 20-30 million users by FY23, and 100 million in 5 years, the road to profitability is far from easy.Similarly, in October 2021, Bengaluru-based Groww raised $251 million as part of its Series E round led by IconiQ Growth and other investors, including Tiger Global, almost tripling its valuation to $3 billion in a little over six months. The company, which claims to have over 20 million users on its platform, has around 2 million users on its stock investment platform, Next Billion Technologies, which was launched in July 2021. Though Next Billion clocked revenues of \u20b940 crore in FY21 and turned profitable with \u20b92.73 crore, the parent entity, Billionbrains Garage Ventures, posted losses of \u20b9107 crore on a consolidated revenue of \u20b952 crore.Nikhil, who primarily spends time on treasury and risk management at Zerodha, points out that while they take competition seriously, the writing on the wall is clear. \u201cToday you have a new entrant, tomorrow there might be another. However, to be honest, if you earn \u20b920 on a transaction but spend \u20b910K to acquire a client, it\u2019s a tough business model as you may need to monetise the transaction by selling some other product, which may not be in the interest of the user,\u201d says Nikhil.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/fe0ae113-a648-4e90-8054-8b2659038a3a","type":"text","family-id":"af09dc8a-1e22-474f-a9ed-0dee0dac169c","title":"","id":"fe0ae113-a648-4e90-8054-8b2659038a3a","metadata":[],"subtype":null,"text":"For instance, take the case of Upstox, which claims to have crossed 10 million customers in June. The Mumbai-based company became a Unicorn last November when it raised $25 million in a Series C round led by Tiger Global at a valuation of $3.5 billion. While financials for FY22 are not available, a five-time jump in business promotion expenses to \u20b9113 crore saw losses widen 89% to \u20b972 crore even as revenue nearly tripled to \u20b9429 crore in FY21. One of the big costs was advertising and marketing as the firm tied for cricketing events with the ICC, BCCI and Tamil Nadu Premier League. \u201cWe have a plan of getting profitable in the next two years. We can speed that up or we can slow that down. It\u2019s just a matter of how much you also want us to scale up,\u201d one of its three co-founders Shrini Viswanath was quoted as saying. But given the start-up\u2019s ambitious plans of adding 20-30 million users by FY23, and 100 million in 5 years, the road to profitability is far from easy.Similarly, in October 2021, Bengaluru-based Groww raised $251 million as part of its Series E round led by IconiQ Growth and other investors, including Tiger Global, almost tripling its valuation to $3 billion in a little over six months. The company, which claims to have over 20 million users on its platform, has around 2 million users on its stock investment platform, Next Billion Technologies, which was launched in July 2021. Though Next Billion clocked revenues of \u20b940 crore in FY21 and turned profitable with \u20b92.73 crore, the parent entity, Billionbrains Garage Ventures, posted losses of \u20b9107 crore on a consolidated revenue of \u20b952 crore.Nikhil, who primarily spends time on treasury and risk management at Zerodha, points out that while they take competition seriously, the writing on the wall is clear. \u201cToday you have a new entrant, tomorrow there might be another. However, to be honest, if you earn \u20b920 on a transaction but spend \u20b910K to acquire a client, it\u2019s a tough business model as you may need to monetise the transaction by selling some other product, which may not be in the interest of the user,\u201d says Nikhil."},{"description":"","amp-html":"Zerodha, though, has not been burning cash to acquire customers either. In fact, the sign-up fee of \u20b9200 that it charges per customer while on-boarding partly contributes to its overall revenue. \u201cWe make money on customer acquisition unlike competition which is losing money. So, it\u2019s almost like a negative customer acquisition cost (CAC),\u201d says Nithin.That\u2019s a big deal.Krishnan ASV, analyst at HDFC Securities, mentions that despite being a capital-light business, high customer acquisition costs incurred by fintech brokers have resulted in losses. He, however, expects these costs to decline once the industry matures and operating leverage drives profitability.The reason behind Zerodha\u2019s success, besides the first-mover advantage, is that it adhered to a philosophy of not chasing growth at any cost. \u201cWe never started a year saying we need to get to these many users. That\u2019s also a reason why we didn\u2019t go for external funding. Because once you raise money, you are obligated to run the business in a certain way which, in turn, will make it hard for you to acquire customers without having to spend,\u201d says Nithin.In fact, while most businesses talk of customer-centricity, walking the talk in a digital era \u2014 where data can reveal more about a customer \u2014 is tough. Zerodha chose not to bombard customers with offers and updates. In fact, the company moved its sales team \u2014 that would call back customers who signed up but didn\u2019t finish onboarding \u2014 to a support role. The move paid off as it didn\u2019t make any difference to the onboarding rates.In keeping with that ethos, Zerodha has also not been pushing its margin funding business, which is currently a separate entity. \u201cMargin funding is a very lucrative business and can easily make up for 25% of revenues for large broking firms. But it\u2019s really a horrible product for customers as you are just enabling their greed,\u201d says Nithin. The company is now offering the services as a counter to any potential outflow of assets under management. \u201cWe don\u2019t want our customers moving out to another player to just pledge their securities for a loan,\u201d he adds.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/06ad7c20-4dca-4fbd-b6ce-b7fb36ad1a7a","type":"text","family-id":"7072b256-04a5-42d0-a076-695138f354d4","title":"","id":"06ad7c20-4dca-4fbd-b6ce-b7fb36ad1a7a","metadata":[],"subtype":null,"text":"Zerodha, though, has not been burning cash to acquire customers either. In fact, the sign-up fee of \u20b9200 that it charges per customer while on-boarding partly contributes to its overall revenue. \u201cWe make money on customer acquisition unlike competition which is losing money. So, it\u2019s almost like a negative customer acquisition cost (CAC),\u201d says Nithin.That\u2019s a big deal.Krishnan ASV, analyst at HDFC Securities, mentions that despite being a capital-light business, high customer acquisition costs incurred by fintech brokers have resulted in losses. He, however, expects these costs to decline once the industry matures and operating leverage drives profitability.The reason behind Zerodha\u2019s success, besides the first-mover advantage, is that it adhered to a philosophy of not chasing growth at any cost. \u201cWe never started a year saying we need to get to these many users. That\u2019s also a reason why we didn\u2019t go for external funding. Because once you raise money, you are obligated to run the business in a certain way which, in turn, will make it hard for you to acquire customers without having to spend,\u201d says Nithin.In fact, while most businesses talk of customer-centricity, walking the talk in a digital era \u2014 where data can reveal more about a customer \u2014 is tough. Zerodha chose not to bombard customers with offers and updates. In fact, the company moved its sales team \u2014 that would call back customers who signed up but didn\u2019t finish onboarding \u2014 to a support role. The move paid off as it didn\u2019t make any difference to the onboarding rates.In keeping with that ethos, Zerodha has also not been pushing its margin funding business, which is currently a separate entity. \u201cMargin funding is a very lucrative business and can easily make up for 25% of revenues for large broking firms. But it\u2019s really a horrible product for customers as you are just enabling their greed,\u201d says Nithin. The company is now offering the services as a counter to any potential outflow of assets under management. \u201cWe don\u2019t want our customers moving out to another player to just pledge their securities for a loan,\u201d he adds."},{"description":"","amp-html":"","image-metadata":{"width":1908,"height":880,"mime-type":"image\/jpeg","file-size":195225,"file-name":"Zerodha 5.jpg"},"page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/f4167582-c286-4a15-81d8-43f7abc2db1d","type":"image","family-id":"4a6c91e5-0804-433b-831b-1f26e31cfe29","image-attribution":"","title":"","id":"f4167582-c286-4a15-81d8-43f7abc2db1d","hyperlink":null,"image-s3-key":"fortuneindia\/2023-02\/9a70ae9b-dc71-4a92-a733-27a103c769ba\/Zerodha_5.jpg","metadata":[],"subtype":null},{"description":"","amp-html":"The Tech EdgeEven as Zerodha is playing it by the ear when it comes to product offerings, the constant endeavour is to create better user experience by leveraging on its tech stack.Nithin credits Kailash Nadh, CTO at Zerodha, who has a PhD in Artificial Intelligence, for keeping the tech engine running. \u201cThe only reason we are where we are today is because of our tech and products. Kailash doesn\u2019t like to be called a co-founder as he joined late, but he is as much a founder in the business as I am,\u201d says Nithin.For someone who doesn\u2019t invest in the market, Nadh has perfected the tech of investing by evangelising free and open-source software (FOSS). \u201cFrom the outside, all modern trading apps kind of look similar, but what would be unique about us is the scalability of the systems we have built. I met Nithin in 2012 and we started the tech company in 2013, so we had, thankfully, had the luxury of time, nearly a decade, to build things from the first principle,\u201d says Nadh.Right from support tickets to sales CRM (customer relationship management) to HRMS (HR management systems) and even the e-mail utility everything is built on the FOSS platform. \u201cIt saves us tens of millions of dollars. I think FOSS is the truest form of art, where you build something for the greater good of the community and give it away for free,\u201d says Nithin.The tech architecture is not only good in terms of performance given the number of users it can handle, but also by the number of people engaged in building it. \u201cWe built the entire business internally with a tech team of just 30 people,\u201d mentions Nadh. Of the 30-member team, just four members manage the entire trading platform that processes over 10-15 million orders a day.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/1f2bc697-a656-44ef-b263-ee164f50491b","type":"text","family-id":"81d19e3e-1009-442a-90bd-b38246902858","title":"","id":"1f2bc697-a656-44ef-b263-ee164f50491b","metadata":[],"subtype":null,"text":"The Tech EdgeEven as Zerodha is playing it by the ear when it comes to product offerings, the constant endeavour is to create better user experience by leveraging on its tech stack.Nithin credits Kailash Nadh, CTO at Zerodha, who has a PhD in Artificial Intelligence, for keeping the tech engine running. \u201cThe only reason we are where we are today is because of our tech and products. Kailash doesn\u2019t like to be called a co-founder as he joined late, but he is as much a founder in the business as I am,\u201d says Nithin.For someone who doesn\u2019t invest in the market, Nadh has perfected the tech of investing by evangelising free and open-source software (FOSS). \u201cFrom the outside, all modern trading apps kind of look similar, but what would be unique about us is the scalability of the systems we have built. I met Nithin in 2012 and we started the tech company in 2013, so we had, thankfully, had the luxury of time, nearly a decade, to build things from the first principle,\u201d says Nadh.Right from support tickets to sales CRM (customer relationship management) to HRMS (HR management systems) and even the e-mail utility everything is built on the FOSS platform. \u201cIt saves us tens of millions of dollars. I think FOSS is the truest form of art, where you build something for the greater good of the community and give it away for free,\u201d says Nithin.The tech architecture is not only good in terms of performance given the number of users it can handle, but also by the number of people engaged in building it. \u201cWe built the entire business internally with a tech team of just 30 people,\u201d mentions Nadh. Of the 30-member team, just four members manage the entire trading platform that processes over 10-15 million orders a day."},{"description":"","amp-html":"Further, by adopting FOSS as its mainstay, Zerodha has been able to foster a culture of innovation through strategic investments. For instance, developers are free to create securities-related APIs that can be plugged into its IT architecture. \u201cLaunching a securities-related app can be tedious as it involves a lot of legal hassles given the tight regulatory framework. At Zerodha we do the dirty work of dealing with the paperwork and legalese, while the developer can just focus on building the application,\u201d says Nithin. One such initiative is Small Case, which allows customers to create a basket of stocks or ETFs that reflects a strategy, idea, or theme. Then there is Coin, an app for mutual fund investment, Varsity, a portal with free modules on markets, trading and information. To sensitise customers against the pitfall of penny stocks and stocks with poor fundamentals, there is also an intuitive intelligence software, Nudge, that forewarns clients about risky trades. Importantly, none of the initiatives tries to promote the broking business \u2014 overtly or covertly.Not surprising that Zerodha has been able to onboard millions of users without having to double tech expenses. \u201cIn my view, competition lacks the tech to support such a scale of business today. We have been able to go from 2 million to 10 million customers without increasing our team size, because we have used tech to optimise and improve every single process. We didn\u2019t hire more people to solve these problems like our competitors did over the past two years,\u201d says Nithin.Continuous iteration has ensured that the tech platform is free of legacy issues and any new offering does not face glitches. \u201cThe probability of something going wrong in an unknown way reduces greatly if you don\u2019t pause often to fix old things. Ironically, the result is that you end up building a lot of new things easily and safely. In fixing all the problems, you might lose three or four months now, but the end result is that you might end up saving two years of pain in the creation of new product or features, whatever that is,\u201d explains Nadh.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/89f5c2f7-2e96-4249-b3df-12a4a76dded2","type":"text","family-id":"98316327-8030-4a78-9fdd-2d0599f2cf22","title":"","id":"89f5c2f7-2e96-4249-b3df-12a4a76dded2","metadata":[],"subtype":null,"text":"Further, by adopting FOSS as its mainstay, Zerodha has been able to foster a culture of innovation through strategic investments. For instance, developers are free to create securities-related APIs that can be plugged into its IT architecture. \u201cLaunching a securities-related app can be tedious as it involves a lot of legal hassles given the tight regulatory framework. At Zerodha we do the dirty work of dealing with the paperwork and legalese, while the developer can just focus on building the application,\u201d says Nithin. One such initiative is Small Case, which allows customers to create a basket of stocks or ETFs that reflects a strategy, idea, or theme. Then there is Coin, an app for mutual fund investment, Varsity, a portal with free modules on markets, trading and information. To sensitise customers against the pitfall of penny stocks and stocks with poor fundamentals, there is also an intuitive intelligence software, Nudge, that forewarns clients about risky trades. Importantly, none of the initiatives tries to promote the broking business \u2014 overtly or covertly.Not surprising that Zerodha has been able to onboard millions of users without having to double tech expenses. \u201cIn my view, competition lacks the tech to support such a scale of business today. We have been able to go from 2 million to 10 million customers without increasing our team size, because we have used tech to optimise and improve every single process. We didn\u2019t hire more people to solve these problems like our competitors did over the past two years,\u201d says Nithin.Continuous iteration has ensured that the tech platform is free of legacy issues and any new offering does not face glitches. \u201cThe probability of something going wrong in an unknown way reduces greatly if you don\u2019t pause often to fix old things. Ironically, the result is that you end up building a lot of new things easily and safely. In fixing all the problems, you might lose three or four months now, but the end result is that you might end up saving two years of pain in the creation of new product or features, whatever that is,\u201d explains Nadh."},{"description":"","amp-html":"","image-metadata":{"width":1908,"height":1636,"mime-type":"image\/jpeg","file-size":300907,"file-name":"Zerodha 3.jpg"},"page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/98ecfeef-cfe5-4427-aa55-4aec4a4106de","type":"image","family-id":"2d6bb9a0-29b6-4044-91a8-926161d8d8b9","image-attribution":"","title":"","id":"98ecfeef-cfe5-4427-aa55-4aec4a4106de","hyperlink":null,"image-s3-key":"fortuneindia\/2023-02\/70edb6b2-f4bc-4c67-aaa8-d46d752f808b\/Zerodha_3.jpg","metadata":[],"subtype":null},{"description":"","amp-html":"Though the tech team has been around for more than a decade, Zerodha has built its platform in a way that any new person joining the team can come up to speed within a short span of time. \u201cThe technology has been built keeping in mind the eventuality that at any point in time it will be easy to hand over the reins to someone else. Everything is automated, well-documented, and well-screened. So, tomorrow, even a beginner can come up to speed in a matter of weeks,\u201d says Nadh.The Way AheadDuring the cyclical uptick seen over FY21 and FY22, discount brokers added 75% of incremental customers with Zerodha at the top (See: The select club). According to Krishnan of HDFC Securities, this shows the preferences of new-to-market clients. More importantly, the revenue market share analysis suggests that discount brokers have gained at the cost of smaller standalone brokers. It\u2019s a clear giveaway that the broking game is today concentrated in the hands of a handful of online and full-service brokers.Nitin Aggarwal, group CFO & CEO - broking, Religare Enterprises, believes trading online has become a way of life. \u201cIn fact, we were the first full-service broker to have launched a mobile trading app 13 years back, but it never took off. But today more than 70% of our volume comes from the digital medium,\u201d says Aggarwal, whose retail firm has over a million customers.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/87c20e09-ba47-48e3-ac1f-64c9545a31a5","type":"text","family-id":"202a4462-db80-47a0-8349-925c626316bc","title":"","id":"87c20e09-ba47-48e3-ac1f-64c9545a31a5","metadata":[],"subtype":null,"text":"Though the tech team has been around for more than a decade, Zerodha has built its platform in a way that any new person joining the team can come up to speed within a short span of time. \u201cThe technology has been built keeping in mind the eventuality that at any point in time it will be easy to hand over the reins to someone else. Everything is automated, well-documented, and well-screened. So, tomorrow, even a beginner can come up to speed in a matter of weeks,\u201d says Nadh.The Way AheadDuring the cyclical uptick seen over FY21 and FY22, discount brokers added 75% of incremental customers with Zerodha at the top (See: The select club). According to Krishnan of HDFC Securities, this shows the preferences of new-to-market clients. More importantly, the revenue market share analysis suggests that discount brokers have gained at the cost of smaller standalone brokers. It\u2019s a clear giveaway that the broking game is today concentrated in the hands of a handful of online and full-service brokers.Nitin Aggarwal, group CFO & CEO - broking, Religare Enterprises, believes trading online has become a way of life. \u201cIn fact, we were the first full-service broker to have launched a mobile trading app 13 years back, but it never took off. But today more than 70% of our volume comes from the digital medium,\u201d says Aggarwal, whose retail firm has over a million customers."},{"description":"","amp-html":"","image-metadata":{"width":1908,"height":1437,"mime-type":"image\/jpeg","file-size":365584,"file-name":"Zerodha 6.jpg"},"page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/684bb68f-dc2f-4a77-b18f-b68ec58930fe","type":"image","family-id":"4459c817-8e51-4624-b898-12822fc4856e","image-attribution":"","title":"","id":"684bb68f-dc2f-4a77-b18f-b68ec58930fe","hyperlink":null,"image-s3-key":"fortuneindia\/2023-02\/e28d040a-e728-4cc8-8b38-f117eb414e70\/Zerodha_6.jpg","metadata":[],"subtype":null},{"description":"","amp-html":"While for traditional brokerages its business as usual, the likes of Upstox and Groww have VC money fuelling their growth. But unless they turn profitable, their growth is just a chimera. For now, Zerodha\u2019s numbers are striking \u2014 their profit in FY22 makes up for the cumulative profits of full-service brokers for FY22. Yet, Kamath is under no illusion. \u201cThe last two years were peak bull markets. We are unlikely to be able to grow over and above last year\u2019s revenue and profits for a while,\u201d says Kamath.The numbers do show that the frenzy is slowing (See: Grin and bear). Hence, the caution is not without reason.Currently, 70% of Zerodha\u2019s revenue comes from broking and trading fees, 15% from treasury (the company\u2019s own funds invested mostly in debt and fixed deposits), float (unused customer funds) generates 3-3.5% as they are parked as short-term FDs with clearing corporation and, and the remainder (15%) comprises account opening fees, annual maintenance charges, DP charges, and others. Since equity investing is free, it\u2019s the active trading clients that end up subsidising non-paying equity investors. Nearly, 85% of Zerodha\u2019s trading revenue comes from 10-20% of the traders.While most full-service broking firms have advisory services, Zerodha has, thus far, stayed away. But now with depositories and asset management companies, too, expected to join the account aggregator framework, it will be easier to gather financial data about a customer. Nithin wants to make the most of the new tech paradigm. \u201cThe first and most important step of advisory is to be able to profile a customer correctly. Currently, the biggest problem with risk profiling is that I need to know your financials to be able to draw a balance sheet of sorts to understand and correctly advise. Once the aggregator account framework comes through, it will be the right time to attempt this,\u201d he adds.Also in the works is a mutual fund \u2014 passive products targeted at long-term investors, especially millennials looking at a nest egg. \u201cIndia today needs a passive-only AMC as all existing AMCs are sailing in both the boats \u2014 active and passive. So, there is an opportunity to be a thought leader in the passive-only space as 25-30 year olds do not know what is the right investment for them. We need to simplify the investing experience and take the noise away from the likes of hybrids, balanced, and index funds. We will offer goal-oriented funds with a targeted date wherein equity and debt allocation will keep rebalancing as the customer ages,\u201d says Kamath.","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/c2e5efd6-b096-49b4-9ec0-6633ac927a09","type":"text","family-id":"c82fc4ea-d547-48f9-8e61-3f2205e60cd2","title":"","id":"c2e5efd6-b096-49b4-9ec0-6633ac927a09","metadata":[],"subtype":null,"text":"While for traditional brokerages its business as usual, the likes of Upstox and Groww have VC money fuelling their growth. But unless they turn profitable, their growth is just a chimera. For now, Zerodha\u2019s numbers are striking \u2014 their profit in FY22 makes up for the cumulative profits of full-service brokers for FY22. Yet, Kamath is under no illusion. \u201cThe last two years were peak bull markets. We are unlikely to be able to grow over and above last year\u2019s revenue and profits for a while,\u201d says Kamath.The numbers do show that the frenzy is slowing (See: Grin and bear). Hence, the caution is not without reason.Currently, 70% of Zerodha\u2019s revenue comes from broking and trading fees, 15% from treasury (the company\u2019s own funds invested mostly in debt and fixed deposits), float (unused customer funds) generates 3-3.5% as they are parked as short-term FDs with clearing corporation and, and the remainder (15%) comprises account opening fees, annual maintenance charges, DP charges, and others. Since equity investing is free, it\u2019s the active trading clients that end up subsidising non-paying equity investors. Nearly, 85% of Zerodha\u2019s trading revenue comes from 10-20% of the traders.While most full-service broking firms have advisory services, Zerodha has, thus far, stayed away. But now with depositories and asset management companies, too, expected to join the account aggregator framework, it will be easier to gather financial data about a customer. Nithin wants to make the most of the new tech paradigm. \u201cThe first and most important step of advisory is to be able to profile a customer correctly. Currently, the biggest problem with risk profiling is that I need to know your financials to be able to draw a balance sheet of sorts to understand and correctly advise. Once the aggregator account framework comes through, it will be the right time to attempt this,\u201d he adds.Also in the works is a mutual fund \u2014 passive products targeted at long-term investors, especially millennials looking at a nest egg. \u201cIndia today needs a passive-only AMC as all existing AMCs are sailing in both the boats \u2014 active and passive. So, there is an opportunity to be a thought leader in the passive-only space as 25-30 year olds do not know what is the right investment for them. We need to simplify the investing experience and take the noise away from the likes of hybrids, balanced, and index funds. We will offer goal-oriented funds with a targeted date wherein equity and debt allocation will keep rebalancing as the customer ages,\u201d says Kamath."},{"description":"","amp-html":"Even as the company is awaiting approval from Sebi for the MF, it plans to join the NSE IFSC Exchange based out of Gift City in Gujarat. The idea is to offer U.S. stocks to Indian investors given that the NSE IFSC trades in 50 popular U.S. stocks such as Apple, Amazon, and Tesla in the form of unsponsored depositary receipts. \u201cFrom a relative standpoint, some companies in the U.S. have more value to offer. They are not as frothy and expensive,\u201d feels Nikhil.While there are no financial targets that Zerodha\u2019s team strives to achieve, the singular focus is to improve profitability. \u201cEvery year we allocate 10-15% of our profits for bonuses and hikes. So, everyone in the company is focused on the profitability of the business and no other metric,\u201d says Nithin.That also means Zerodha is judicious about its staff strength. \u201cOur team size has been constant at 1,100. Barring a couple of senior management exits, attrition is largely confined to the support function level,\u201d says Kamath.The reason for the high level of stickiness is also because of the culture. In the absence of any business pressure, the 30-member tech team is not only the smallest but also the most productive. \u201cThey have done well because the business team never interfered or pushed the tech folks to create a product or a feature. Even in other functions, there is hardly any interference. For example, Nikhil manages treasury. I have never interfered in his decision, nor has he interfered in how I run the business. It\u2019s similar for Venu Madhav, who manages our operations,\u201d says Kamath. Agrees Nadh, \u201cThe core team of Zerodha is not staying on because we have ESOPs. It\u2019s more like a social club\u2026of people who like to hang out and work together.\u201d","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/aa9c261d-d837-4163-97a4-f4673aff3bef","type":"text","family-id":"a47ecb80-36d6-4573-86fe-e8b389f4ac66","title":"","id":"aa9c261d-d837-4163-97a4-f4673aff3bef","metadata":[],"subtype":null,"text":"Even as the company is awaiting approval from Sebi for the MF, it plans to join the NSE IFSC Exchange based out of Gift City in Gujarat. The idea is to offer U.S. stocks to Indian investors given that the NSE IFSC trades in 50 popular U.S. stocks such as Apple, Amazon, and Tesla in the form of unsponsored depositary receipts. \u201cFrom a relative standpoint, some companies in the U.S. have more value to offer. They are not as frothy and expensive,\u201d feels Nikhil.While there are no financial targets that Zerodha\u2019s team strives to achieve, the singular focus is to improve profitability. \u201cEvery year we allocate 10-15% of our profits for bonuses and hikes. So, everyone in the company is focused on the profitability of the business and no other metric,\u201d says Nithin.That also means Zerodha is judicious about its staff strength. \u201cOur team size has been constant at 1,100. Barring a couple of senior management exits, attrition is largely confined to the support function level,\u201d says Kamath.The reason for the high level of stickiness is also because of the culture. In the absence of any business pressure, the 30-member tech team is not only the smallest but also the most productive. \u201cThey have done well because the business team never interfered or pushed the tech folks to create a product or a feature. Even in other functions, there is hardly any interference. For example, Nikhil manages treasury. I have never interfered in his decision, nor has he interfered in how I run the business. It\u2019s similar for Venu Madhav, who manages our operations,\u201d says Kamath. Agrees Nadh, \u201cThe core team of Zerodha is not staying on because we have ESOPs. It\u2019s more like a social club\u2026of people who like to hang out and work together.\u201d"},{"description":"","amp-html":"With age on their side, the Kamath brothers have a long runway to nurture their legacy. \u201cEven if revenue goes to zero, we have over 13 years of runway. Our net worth as a percentage of total customer funds is now more than 25% \u2014 the highest globally. Everyone on our team also holds significant stock options and is invested in the business doing well, which can only happen if you have a happy customer,\u201d says Nithin. There are no plans to go public with the company, wherein the brothers own 85% and the rest comprises ESOPs. \u201cIf you don\u2019t need the capital, it (listing) becomes an exercise in vanity,\u201d says Nikhil.In a business that thrives on greed and fear, the Kamath brothers are an exception \u2014 underscored by the launch of the Young India Philanthropic Pledge, which comprises signatories under 45 years of age willing to pledge 25% of their wealth. \u201cProfit and valuation are by-products of us having accidentally built our business around the time that India was seeing its biggest bull market. If the bull market dies, so will our profit and valuation. But what will be a constant is our philosophy,\u201d says Nithin. And as long as Zerodha remains true to its ethos, it will remain the true Robinhood of India\u2019s retail investors. ","page-url":"\/story\/0a7060d8-1563-4e4c-ae78-f2ebfa1d1aa1\/element\/1ec683f5-f44e-42c2-b0f7-fb516e05e4fd","type":"text","family-id":"1ce931bd-7836-402a-a795-543342681e99","title":"","id":"1ec683f5-f44e-42c2-b0f7-fb516e05e4fd","metadata":[],"subtype":null,"text":"With age on their side, the Kamath brothers have a long runway to nurture their legacy. \u201cEven if revenue goes to zero, we have over 13 years of runway. Our net worth as a percentage of total customer funds is now more than 25% \u2014 the highest globally. Everyone on our team also holds significant stock options and is invested in the business doing well, which can only happen if you have a happy customer,\u201d says Nithin. There are no plans to go public with the company, wherein the brothers own 85% and the rest comprises ESOPs. \u201cIf you don\u2019t need the capital, it (listing) becomes an exercise in vanity,\u201d says Nikhil.In a business that thrives on greed and fear, the Kamath brothers are an exception \u2014 underscored by the launch of the Young India Philanthropic Pledge, which comprises signatories under 45 years of age willing to pledge 25% of their wealth. \u201cProfit and valuation are by-products of us having accidentally built our business around the time that India was seeing its biggest bull market. If the bull market dies, so will our profit and valuation. But what will be a constant is our philosophy,\u201d says Nithin. And as long as Zerodha remains true to its ethos, it will remain the true Robinhood of India\u2019s retail investors. "},{"id":"00000000-0000-0000-0000-000000000000","description":"","title":"","subtype":null,"type":"text","text":" Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. To buy a copy, visit Amazon.","metadata":{"promotional-message":true},"amp-html":" Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. To buy a copy, visit Amazon."}],"card-updated-at":1676565176761,"content-version-id":"e2ff285f-2839-4d43-a2f6-16c6d5becf89","card-added-at":1676518166295,"status":"draft","id":"689a7dbf-de4b-4f04-99bf-dee88fb62db4","content-id":"689a7dbf-de4b-4f04-99bf-dee88fb62db4","card-updated-at-human-readable":"February 16, 2023 at 10:02 PM","version":79,"metadata":{"social-share":{"shareable":true,"title":"How Zerodha Went from Zero to\nHero","message":"The Kamath brothers\u2019 broking venture is a case study of how new-age tech businesses can achieve scale \u2014 profitably.","image":{"key":"fortuneindia\/2023-02\/9d30c923-8716-48dc-bb1e-48e6ee192d97\/Zerodha_4.jpg","url":null,"attribution":"","caption":null,"metadata":{"width":1908,"height":2379,"mime-type":"image\/jpeg","file-size":663589,"file-name":"Zerodha 4.jpg"}}},"attributes":[]}}],"url":"https:\/\/www.fortuneindia.com\/long-reads\/how-zerodha-went-from-zero-tohero\/111627","story-version-id":"0ee19be6-e18b-4145-97a2-527a990c0ba4","content-type":"story","content-updated-at":1676565185569,"author-id":1587299,"owner-id":1614228,"hero-image-amp-html":" Nikhil Kamath and Nithin Kamath","linked-story-ids":[],"access":null,"promotional-message":" Follow us on Facebook, Twitter, YouTube & Instagram to never miss an update from Fortune India. To buy a copy, visit Amazon.","asana-project-id":null,"first-published-at":1676536709278,"hero-image-caption":" Nikhil Kamath and Nithin Kamath","redirect":false,"version":90,"story-template":"text","sequence-no":111627,"created-at":1676565176752,"authors":[{"slug":"v-keshavdev","social":[],"name":"V. Keshavdev","contributor-role":null,"avatar-url":null,"bio":"vkeshavdev@fortuneindia.com","id":1587299,"avatar-s3-key":null,"twitter-handle":null}],"metadata":{"story-attributes":{"storytemplatetype":["Big Picture Story Template"]},"card-share":{"shareable":true}},"publish-at":null,"assignee-name":"Gadadhar Padhy"}) + " min read"); }); IN 2013, STANFORD UNIVERSITY students Baiju Bhatt and Vlad Tenev came together to build a mobile stock trading app, Robinhood, which proved to be an instant hit among retail investors in the U.S. In an industry plagued with high transaction and broking charges, Robinhood created a niche for itself since its commercial launch in 2015. But the saga did not make for a happy reading. ff782bc1db