Zerodha 60 day Challenge

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.

Zerodha 60 Day Challenge

Users can pick one or more trading segments such as Equity, Future and Options, Currency trading and Commodity trading to be part of it.

At the same time, the concept seems to provide an extra kick to users to stay profitable during the entire course of the challenge.


How to Take Zerodha 60 day Challenge?

The idea of the challenge is to focus on winning and making profits, rather than just trading.

To get started, you need to go to Zerodha 60 Day Challenge home page (of course you need to have a Zerodha Demat Account in the first place), click on ‘Start Challenge’ button.

The day you click on the button, it becomes your 1st of the total 60 days. However:

  • If the day you start is a weekend, then the next business day becomes your first day of the challenge.
  • Also, if the day you start is a market holiday, then the next business day becomes your first day of the challenge.

From the day you start until the next 60 trading days, your progress will be monitored. These 60 days, in a way, imply 5 business days a week (unless there is any public holiday).

To win the competition, you will have to be profitable once the duration ends. Thus, if you are profitable* at the end of the 60th day, you will be declared as a winner of the competition.

*Profitable here implies Net Profit after deducting all brokerage charges, taxes, transaction charges etc.

To get started, here are the steps you need to follow:

Zerodha 60 day Challenge

For your reference, here are the steps involved:

  • Click on the ’60 Day Challenge’ link on the left of the screen displayed above.
  • If you’d like to run the challenge, you need to click on the ‘Start’ button against the segment you are looking to enter the challenge of. You may choose to click any number of segments.
  • Once clicked, your challenge starts and you can monitor the profit and loss reports of your trades for the next 60 days till the challenge gets completed.

Zerodha 60 day Challenge Charges

In order to be part of this Zerodha 60 Day challenge, you do not need to pay any charges. This program is free to join for Zerodha clients.

The only charges you need to consider while being part of this challenge is your conventional brokerage charges and other related taxes that need to be paid in trading.

For more information, you can check this detailed Zerodha Brokerage Calculator as well.


Zerodha 60 day Challenge Rules

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:

Open Free Demat Account
Enter basic details here and a Callback will be arranged for You!

 

Post this, there are 2 ways to get started.

  1. If you have an Aadhar card, then the account opening process can be completed in a few minutes.
  2. Otherwise, you need to provide a few documents to start your account opening process. The documents required are as follows:
    1. ID Proof
    2. An address proof
    3. Bank statement for the last 6 months
    4. Passport-sized photograph
    5. AMC fees (if applicable)
    6. 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:

 


More on Zerodha:

 

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