In India, there are two sorts of stockbrokers. There are two types of brokers: full-service brokers and discount brokers. The full-service brokers provide both a trading platform and consulting services.
Their brokerage fees, on the other hand, are quite hefty. HDFC Securities, ICICI Direct, Motilal Oswal, and others are India’s top full-service brokers.
|Trading AMC [Yearly]||Rs 0 (Free)|
|Demat AMC||Rs 300|
Discount brokers, on the other hand, provide trading platforms with low brokerage fees. Despite this, they do not offer consulting services.
In terms of trading volume, growth, and customer base, Zerodha is India’s top discount broker. This evaluation covers all aspects of this discount broker, including its goods, services, and offerings.
What is Zerodha exactly?
Zerodha is India’s largest discount broker, ideal for traders and investors looking for cheap commissions, a simple interface, and a dependable trading platform.
Moreover, for delivery equities and direct mutual fund investments, it charges no commission.
It charges $20 for all intraday, Futures & Options, currency, and commodity trades on the NSE, BSE, and MCX, regardless of the trading volume.
Charges for Creating a Zerodha Account
|Account Opening Fees|
|Trading Charges [One Time]||Rs 200|
|Trading AMC [Yearly]||Rs 0 (Free)|
|Demat Charges [One Time]||Rs 0|
|Demat AMC [Yearly]||Rs 300|
|Margin Money||75% Margin|
Pros and cons
- For stock delivery, there are no charges of Rs. 0
- On intraday trades, impose a brokerage fee of Rs. 20.
- Platforms for advanced trading
- For MIS/BO/CO positions that the customer does not square off, there is an additional charge of Rs 50 per executed order.
- For an extra price of Rs 50 per executed order, Call & Trade is offered.
- Because Zerodha does not provide banking services, a 3-in-1 trading account is not available.
Zerodha Flat Brokerage charges
|Equity Delivery||Rs 0 (Free)|
|Equity Intraday||Rs 20 per executed order or .03%, whichever is lower|
|Equity Futures||Rs 20 per executed order or .03%, whichever is lower|
|Equity Options||Rs 20 per executed order|
|Currency Futures||Rs 20 per executed order or .03%, whichever is lower|
|Currency Options||Rs 20 per executed order or .03%, whichever is lower|
|Commodity Futures||Rs 20 per executed order or .03%, whichever is lower|
|Commodity Options||Rs 20 per executed order or .03%, whichever is lower|
How to Create an Account?
Our account was accepted after a considerable wait because the account opening process is not entirely computerized.
Expect the report to be opened in 5 business days on average. We had to send various paperwork for clearance; thus, it took us more than a month.
The account opening process is as follows:
- By providing your email address, you can create an account.
- Fill up your PAN number (Permanent Account Number)
- The account opening cost must be paid.
- Connect your identifying information to the Online Government website (Digi Locker Facility), and the website will pull the required online documents for you.
- Your bank statements should be uploaded.
- Sign your documents with a digital signature and a Webcam IPV (In-Person verification)
- Finally, provide the necessary paperwork to Zerodha.
Zerodha Trading Platforms
The following are the ways in which a customer can trade with Zerodha:
3.0 Kite (Web-based Trading Platform)
Zerodha Kite Web is a web-based quick trading platform that may be used for a variety of purposes. Kite was created in-house by Zerodha and has seen numerous modifications since its first release.
Zerodha now offers the Kite 3.0 web platform. Trading on the BSE, NSE, and MCX includes a full market watch, six chart kinds, sophisticated order types such as Cover, GTT, millisecond order placements, and much more.
Kite for Android and Kite for iOS (Mobile Trading App)
An Android and iOS smartphone application. Customers can trade from their phones using this app.
Kite offers its customers a free mobile app for trading and monitoring stocks and commodity markets in India.
Moreover, Kite Mobile App is India’s most advanced trading app, with live streaming data from the BSE, NSE, and MCX.
Zerodha Console (Reporting Dashboard)
Zerodha’s back-office platform is called Console. It’s a transaction and reporting dashboard where customers of Zerodha can see and track all of their investments, including stocks, derivatives, and mutual funds.
Zerodha Sentinel (Price Alert Tools)
Customers of Zerodha can use Sentinel, a cloud-based application, to set up price alerts on stocks, futures, and options.
Every time a price alert is activated, Kite and email notifications are sent.
Moreover, a trader can use Sentinel to create real-time price alerts on 80,000 stocks, derivatives, and bonds, among other things, across exchanges.
Zerodha Coin (Mutual Fund Investment)
Zerodha Coin is a Zerodha Mutual Fund investment platform. Moreover, people can use coins to invest in Direct Mutual Funds. This means you might invest in mutual funds without paying a commission.
Call & trade
Customers who do not have the access to the internet can use the Call & Trade service for an additional fee of Rs 50 per trader.
Read: Paytm Money vs Zerodha
What makes it better than Others?
- This is the largest stockbroker with the most active clients, market volume, and new customer acquisition.
- Considered to be the safest, most dependable, and trustworthy broker.
- Access to the most cutting-edge online trading tools.
- For equity delivery and mutual funds, there is no brokerage fee.
- The highest brokerage fee is Rs. 20, which means you can save 60 to 90 percent on brokerage fees.
- Direct mutual funds have no commissions.
- Its services are appropriate for all types of investors, including active, passive, beginning, active traders, and Algo traders.
Zerodha has earned the trust of the trading community by providing dependable and technologically advanced trading services.
It is the largest discount broker without a doubt. Zerodha is one of the best places to open a brokerage account with a reputable firm that offers low commissions and a simple trading interface.
Is Zerodha suitable for newcomers?
Zerodha charges a cheaper brokerage fee of Rs 20 or 0.03 percent to cater to the needs of novices.
Other bargain brokers demand a fixed cost of Rs 20 or a minimum brokerage fee of 0.05 percent. As a result, Zerodha is preferred by both novice and experienced traders.
Is Zerodha required to use Digilocker?
To register an online account, you must give Aadhaar information. The approach of Digilocker and then sharing the Aadhaar with Zerodha was allowed by SEBI.
Is it possible for me to have two Zerodha accounts with the same name?
No. With Zerodha, a customer can only open one trading or Demat account. Zerodha does not allow you to register two trading accounts with the same PAN number.
You can open another trading or Demat account with another broker using the same name and PAN number. However, this cannot be done with just one broker.
Is Zerodha a secure platform?
Zerodha is as safe as any other Indian stockbroker. It is a reliable and trustworthy stockbroker that ranks among India’s lowest-risk brokers. It is a debt-free firm that only provides brokerage services.
There hasn’t been a single significant breach in the last nine years. As a result, it is India’s safest stockbroker.
Amit Gupta is the creator of FreeDematAccount.in, a website that specializes in Demat accounts and provides assistance to all its users in navigating through complicated decisions. After completing his high school certification, Amit spent half a decade learning about Demat accounts from brokerages. Before forming FreeDematAccount.in, Amit worked for a Demat account brokerage.