How To Take Zerodha 60 Day Challenge

If you are a new trader in the stock market and want to test your trading skills, then Zerodha's 60 Day Challenge is a great way to do it. This challenge allows you to trade with real money and earn brokerage refunds if you meet the challenge criteria. In this article, we will guide you on how to take the Zerodha 60 Day Challenge step by step.

Table of Contents

• Requirements
• Registration
• Terms and Conditions
• Trading
• Completing the Challenge
• Brokerage Refund
• Tips to Ace the Challenge
• FAQs
• Pros and Cons

Requirements

Before registering for the Zerodha 60 Day Challenge, make sure you have the following:

• A Zerodha trading account
• A minimum balance of Rs. 10,000 in your trading account
• Aadhaar Card linked to your trading account
• PAN Card linked to your trading account

Registration

To register for the Zerodha 60 Day Challenge, follow these steps:

1. Login to your Zerodha account
2. Click on the '60 Day Challenge' banner
3. Read and accept the terms and conditions
4. Pay the registration fee of Rs. 200

Once you have completed the registration process, you will receive an email confirmation from Zerodha.

Terms and Conditions

Before starting the challenge, make sure you read and understand the terms and conditions. Some of the key points to keep in mind are:

• The challenge period is 60 trading days
• You can trade in equity, commodity, and currency segments
• You need to maintain a minimum balance of Rs. 10,000 throughout the challenge period
• You need to achieve a minimum turnover of Rs. 100,000 during the challenge period
• You need to achieve a net profit of Rs. 10,000 or more during the challenge period

Trading

Once you have registered for the challenge, you can start trading in the equity, commodity, and currency segments. You can use any trading strategy and take any number of trades during the challenge period. However, make sure you maintain the minimum balance requirement and achieve the turnover and profit targets.

Completing the Challenge

If you achieve the turnover and profit targets within the 60 trading days, you will be considered as a 'winner' of the Zerodha 60 Day Challenge. Zerodha will refund the brokerage charges incurred by you during the challenge period.

Brokerage Refund

The brokerage refund will be credited to your trading account within 7 days of completing the challenge. The refund amount will be calculated as:

Brokerage refund = Total brokerage charged during the challenge period - (20% of the net profit earned during the challenge period + Rs. 200 registration fee)

Tips to Ace the Challenge

• Plan your trades carefully and avoid overtrading
• Stick to your trading strategy and avoid impulsive trades
• Keep a track of your turnover and profit targets
• Keep some buffer cash in your trading account to avoid margin calls
• Stay updated with the latest market news and trends

FAQs

1. Can I participate in the Zerodha 60 Day Challenge multiple times?

Yes, you can participate in the challenge multiple times.

2. Can I withdraw my registration fee?

No, the registration fee is non-refundable.

3. What happens if I fail to meet the challenge criteria?

If you fail to meet the challenge criteria, you will not be eligible for the brokerage refund.

Pros and Cons

Pros

• Allows you to test your trading skills with real money
• Offers brokerage refund if you meet the challenge criteria
• Helps you to improve your trading strategy

Cons

• Requires a minimum balance of Rs. 10,000 in your trading account
• Registration fee is non-refundable
• Requires you to achieve a minimum turnover and profit target

Now that you know how to take the Zerodha 60 Day Challenge, go ahead and give it a try. Who knows, you might end up as a winner and earn a brokerage refund!