Zerodha Adds Privacy Mode on Kite to Help Prevent Overtrading and Protect Data

Nitin Konde

Aug 24, 2024 — 3 min read

Zerodha Launches New Privacy Mode on Kite

Zerodha, the most prominent broker in India, has recently implemented a new privacy mode option on its website. This feature allows customers to protect sensitive information such as details, profit and loss (P&L), and other sensitive elements.

As a result of the fact that constantly seeing real-time changes in the profit and loss statement can frequently be distracting and may be enticing to overtrade, Zerodha claims that the feature will assist investors in avoiding overtrading.

To help people against heavy losses

"At Zerodha, our primary objective has always been to assist individuals in improving their financial situation". In a blog post, the broker stated that this can take the shape of warnings and nudges that assist customers in increasing their chances of winning when trading, as well as the development of features that can assist in preventing excessive trading.

The urge to engage in an excessive number of trades, particularly when things are not going as planned, might result in an endless cycle of trading losses. It developed Kill Switch, which enables users to instantly shut one or more segments on Kite, so compelling investors to take a break. This was done with the intention of assisting users in avoiding the risks associated with overtrading.

Traders are able to get a comprehensive view of their charges throughout the day, which enables them to make more informed trading decisions and encourages them to be more mindful of their trading activity. Zerodha introduced the virtual contract note on Kite as the next step, which displays charges for all of the orders that were placed during the day period.

Major benefits of the feature

It is now possible for users of Kite to effortlessly conceal all of these figures thanks to the privacy mode, which enables them to concentrate on a trading strategy without becoming distracted by the day-to-day swings of their accounts.

It is also helpful for users to have this functionality in circumstances where they are presenting their device to friends or family members and want to conceal important financial information.

Already accessible on the Kite online, the privacy mode will soon be made available on the Kite mobile app as well. In order to engage this feature, investors can activate it by clicking on the user ID on Kite and selecting the toggle button for the privacy mode.

In the past, Zerodha has introduced to its trading platform, Kite, features that are similar to those that are helpful to investors. The first of them was the Kill Switch, which gave users the ability to instantly disable one or more trading segments on Kite. This was done to encourage users to take a break from trading and to prevent them from making rash choices. Based on this, Zerodha produced the Virtual Contract Note, which gave traders a comprehensive view of the charges for all orders submitted throughout the day along with a detailed breakdown of expenses. This was created to provide traders with a comprehensive picture of the charges.