Zerodha 60 day Challenge is more of an opportunity for the existing clients of Zerodha to put their trading skills to a test for 60 market days. Till April 2018, clients had a chance to get the brokerage rewarded back to their trading account from Zerodha for those 60 days.
However, post that only digital certificates are issued to the winners.
When a user becomes the part of this competition, in a way, he or she is committing to making sure all the effort and time spent becomes worthwhile once the challenge is over.
There are no specific rules as such that need to be followed.
However, you must be a Zerodha client to enter the rule and need to be profitable at the end of 60 days. If you stay profitable at the end of this duration, you are declared a winner and a digital certificate is sent to you.
Zerodha 60 day Challenge Cancel
In case you have started the Zerodha 60 day challenge and want to cancel it, unfortunately, there is no provision to do so.
You are not allowed to cancel the challenge and are required to wait for 60 days for the challenge to complete. Nonetheless, it is a free-to-join program and you will not be charged for starting the challenge anyway.
So, you may ignore the challenge altogether.
Zerodha 60 day Challenge Brokerage Refund
Before April 2018, there was a provision where the winners of the Zerodha 60 day challenge used to get their brokerage refunded to their trading account.
However, since then, the broker has pivoted from that monetary incentive and only issues a digital certificate acknowledging the fact that the client has successfully been able to stay profitable in his/her trades overall for the period of 60 days.
Now, you will not get your brokerage refunded anymore.
Zerodha 60 day Challenge FAQs
Here are some of the most frequently asked questions or queries around this concept of this 60-day challenge by Zerodha:
What does the user get post winning the Zerodha 60 day Challenge?
Complete brokerage generated for the 60-day duration (max limit ₹6000) is transferred back to the client’s account.
Recognition across multiple channels such as Zerodha website, Social media including Facebook and Twitter, Winner’s page etc.
An opportunity to become a full-time pro trader at Zerodha and be part of Zerodha Open Trade where other clients follow you and you get paid for each follow.
Am I supposed to perform regular trading?
Yes, the expectations are that you must be trading on a regular basis.
Are there any rules in this competition of Zerodha 60 day Challenge?
Its a pretty flexible competition but you have to take care of a couple of things:
You must pick one or more segments as per your preference
You must be profitable at the end of the 60th day in your total portfolio
Is there anything fishy about this Zerodha 60 day Challenge?
Well, does not seem like. They will not charge you or ask anything in return. Basically, the idea is to promote trading among the client base with an emphasis on staying profitable. So there are only 2 options from here:
Either you stay profitable and actually win the competition, OR
you fail to stay profitable and lose out on some money during the period
Nonetheless, there are no extra charges or penalizations added. The only part where Zerodha wins is that users taking part in the competition, start trading regularly and thus, start generating much more brokerage for the broker. Thus, in a sense, it certainly is an initiative to increase its revenues at the same time.
If this is a competition, is there only one winner?
No, the concept of the challenge is pretty simple. Every member that stays profitable at the end of the 60th day, is declared as the winner of the Zerodha 6o day challenge. There is no limit on the number of winners every day.
I am a beginner, how can I become part of the competition?
To get started with the challenge, you are required to open your account with Zerodha. To open your account, provide your details in the form below and the executive of Zerodha will call you back:
Post this, there are 2 ways to get started.
If you have an Aadhar card, then the account opening process can be completed in a few minutes.
Otherwise, you need to provide a few documents to start your account opening process. The documents required are as follows:
An address proof
Bank statement for the last 6 months
AMC fees (if applicable)
Trading Account cheque
Once you are done with this, your account gets opened within 2-3 business days.
Zerodha Membership Information:
Here is the membership information of the broker with different exchanges and intermediate parties:
Zerodha, #153/154, 4th Cross, Dollars Colony, Opp. Clarence Public School, J.P Nagar 4th Phase, Bangalore - 560078, Karnataka, India