That makes Zerodha second only to ICICI Direct. Of those, about 700,000 actively trade, he says. “The zero brokerage idea caught the imagination of people,” says Nithin, and clientele jumped from about 70,000 people then to a million users today. In December 2015, they decided they would take no fee at all for trades on equity shares. In mid-2015, they also launched a minimalistic, clutter-free product called Kite, allowing users to trade on the web and on the mobile web using their smartphones.Ĭlients liked its simplicity, but the founders realised that their addressable base remained low. Zerodha invested in a startup called Tradelab, which built a desktop trading platform that became popular among clients.
![cabal code zero cabal code zero](https://d3fa68hw0m2vcc.cloudfront.net/f42/210717898.jpeg)
In 2011, they upgraded technology to allow clients to trade outside the NSE as well.īy 2013, competition had started using the discount broking model, too, and it was clear to the brothers that the future was about becoming a technology company that offered a superior platform for multiple financial services. “We were the first to come up with a utility that showed all costs upfront, before a single trade was initiated by any client,” Nithin recalls. The brothers also paid attention to earning trust, because a client still had to transfer money to the broker to put in a trade. They would easily save 90-95 percent of that by switching. Those in the business immediately recognised the value of this proposition otherwise they would be paying a percentage of the value of the trade as fees in the conventional broking system. “There was an active futures and options trading community and we started out charging `20 per trade irrespective of the size of the trade,” says Nithin. The brothers wanted to position themselves as facilitators of zero-barrier trading for their clients. The name was a play on zero and the Sanskrit word ‘rodha’, meaning barrier. That was how Zerodha came into being, going live in August 2010.
![cabal code zero cabal code zero](https://i.ebayimg.com/images/g/fT0AAOSwwq9gfGyc/s-l300.jpg)
It was then that they decided that Nikhil-who turned out to have a real penchant for trading-would continue to trade, while Nithin would build a brokerage firm.
#CABAL CODE ZERO FULL#
Click here for the full Tycoons of Tomorrow list “We lost out on a really big opportunity to make a large amount of money,” says Nithin, adding that he felt he was “hitting my shelf life in terms of day trading”. They had squared off all their positions ahead of the poll results.
![cabal code zero cabal code zero](http://i.epvpimg.com/bjWrdab.jpg)
That year, however, Nithin, now 38, and younger brother Nikhil, 32, who had joined his brother in 2006, did something they would come to rue a bit. Through his firm Kamath and Associates, which he set up a few years earlier with his brother, the duo had also been franchisees for large broking businesses, including Reliance Money. He’d started his career when he was 17 and had managed money and traded stocks on behalf of wealthy clients. In 2009, an election year in India, Nithin Kamath, then 29, had been a day trader for over a decade. Image: Selvaprakash Lakshmanan for Forbes India Brothers Nikhil (left) and Nithin Kamath believe nobody can teach you trading one learns from their mistakes and tries to avoid them