Zerodha Pi is a trading terminal software from India’s leading discount stock broker, Zerodha. It is an installable file that users can download onto their desktops or laptops and install for trading usage.
Zerodha Pi Review
Zerodha Pi suits intraday traders the best for the simple reason that this is a high-performance software and provides real-time tips from expert advisors (majorly technical in nature). It consumes low internet bandwidth and at the same time, requires less CPU and memory usage (more details ahead).
Within a few years of its launch, Zerodha Pi has seen major upgrades with each update bringing in new features and digital advancements. There are, at the same time, few concerns as well that Zerodha needs to address on a regular basis to make sure the user experience of trading stays optimal.
Zerodha Pi allows you to trade and invest across different indices such as BSE, NSE, MCX, NCDEX etc. Here are the details on some of the features offered in this terminal based trading application:
Advanced charting functionality with a provision of using up to 50,000 candles in a single chart with an option to change the timeline from minute, hour and daily options. Furthermore, you can change the duration to year-level as well.
Users can employ 10 types of different chart types (including Candle Volume, Point & Figure, Heikin Ashi, Three Line Break, Bar Chart, Candle Chart and so on), 30+ drawing tools along with 80+ indicators for detailed technical analysis
You can pull out intraday data for the last 365 days, Historial data for last 5 years to perform your analysis. This historical data is also available for equity stocks, derivatives, indices, commodity and currency segments as well.
Direct order placement provision directly from the charts provided.
Backtest Strategies allowed – this helps traders to optimize their strategies, figure out any technical errors in their technical and fundamental analysis.
In-built stock screener feature allows clients to concentrate specifically on the trading products, stock options etc. the client is interested in.
Pattern recognition feature allows clients to draw personalized patterns on the user interface. This can be done simply by drawing a pattern on the screen and the platform will look for similarity within the charts.
Even though Zerodha is a discount stock broker, Zerodha Pi provides real-time tips from its experts
Zerodha Pi also offers personalized themes to clients where users can customize dashboard, filters, colour coding as per preferences.
Market watch feature within Zerodha Pi allows its clients to add up to 250 scrips.
Third party integrations allowed with strategy based platforms such as Amibroker, Ninjatrader, Metatrader etc.
Shortcut keys provided so that users can quickly perform their operations while trading, thus, saving valuable trading time. For example:
Change Password – Ctrl+Shift+F9
Buy Order – F1 or Alt+F1
Sell Order – F2 or Alt+F2
After Market Order Buy – Ctrl+F1
Stock Holding – Alt+F9
Advanced traders have the option to code advanced strategies using the scripting language. There is a provision to backtest these strategies within the tool itself.
Apart from all the above-mentioned features, you also get access to Zerodha Pi Scanners. These scanners help the traders to set-up alerts and notifications based on some pre-conditions. With these alerts in place, you get a large number of opportunities to place trades in the stock market.
The tool also provides real-time trading signals from an automated back-end engine (no human experts).
If you are looking to place an After Market Order or AMO, you can do so between 4:00 PM to 8:59 am for trading in Equity, by 9.59 am for commodity trading and 9:09 am for futures and options segment.
The application provides you with algo-trading and AI-based optimization tools and a provision to integrate it with external softwares. This set-up is directly beneficial to expert traders.
If you are looking to download Zerodha Pi, that can only be done from the broker’s website through the Q tool.
Zerodha Pi Charges
If you are a client of Zerodha, only then you are allowed to use this terminal based trading application. However, there are no charges levied on its usage.
You can use this application for free.
Zerodha Pi Comparisons
Let’s compare Zerodha Pi with some of the other prominent trading platforms in India with respect to different features each of these applications offer:
If you go ahead and use this trading platform from Zerodha, you will have to face some of these concerns:
Since Zerodha is a discount stock broker, Zerodha Pi does not offer any fundamental analysis or reports to its clients like full-service stock broker’s trading platforms do.
Fewer options as far as backup is concerned, few concerns raised during times of high trading traffic.
Experience using trend lines is not that great and Zerodha can definitely work on that aspect.
Stability is another concern that has been highlighted by some of the users of this terminal platform, especially when it comes to high-traffic situations and order submissions.
No Mac version available.
Zerodha Pi Advantages
At the same time, you will get the following benefits if you use Zerodha Pi for your trading needs:
Zerodha Pi uses very low Memory & CPU resources of your desktop or laptop. This helps you to trade with a laptop or desktop that has a basic configuration. Although, higher configuration based laptops allow trading at much better speed and performance.
It is known to be one of those trading platforms that works well at a low internet bandwidth. This helps clients even from smaller cities or towns with low internet bandwidth connectivity to trading with ease and convenience.
You can place orders directly from the charts post analysis, which helps you to save time especially if you are into intraday trading.
Zerodha Pi with its quantitative tools is suitable for intraday traders who prefer performance, quick tips and high usability.
A wide range of features are at disposal for the trader, be it a beginner-level one or an expert.
Easy fund transfer process and now with the introduction of the 3 in 1 account, this process will become even simpler.
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More on Zerodha:
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