by admin | April 22, 2024
Zerodha is one of the best stock broker, and one of the largest and highly respected broker in India. It is a leading brokerage platform among all, Zerodha offers a user-friendly interface, low fees and innovative tools. Zerodha is the top choice for both beginners and experienced traders.
Let’s begin this Zerodha review with a brief overview of the company.
Table of Contents
Zerodha overview
Zerodha is biggest stockbrokers in India that offers trading and investing in stocks, derivatives, mutual funds, and more. Zerodha was founded in 2010 by Nitin Kamat, Nikhil Kamat, and Dr. Kailash Nadh. The platform was born to break all the barriers that traders and investors face in India.
Further, to cater to the diverse needs of investors, the platform provides a range of modern platforms and apps such as Kite, Coin, Console, Varsity, and more. By charging flat fees and by offering price transparency, Zerodha has pioneered the concept of discount breaking in India. We have mentioned all the charges of the platform below in this Zerodha review.
Features of Zerodha
- Diverse investment options including stocks, currencies, and commodities.
- Zero brokerage in Zerodha on equity delivery.
- Advanced and user-friendly trading platforms.
- Maximum Zerodha brokerage rate of Rs 20 per trade.
- Up to 20x leverage for intraday trades.
- Zerodha Varsity for comprehensive investor education.
- Among the top stockbrokers in India with a transparent and secure trading environment.
- Kite 3.0 for a seamless mobile trading experience.
- Real-time price alerts and notifications with Sentinel.
- Dedicated customer support and Call and trade options.
Zerodha brokerage charges
| Trading Segment | Brokerage Charges |
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Rs 20 or 0.03%/order (whichever is lower) |
| Equity Future | Rs 20 or 0.03%/order (whichever is lower) |
| Equity Options | Rs 20/order (on Turnover) |
| Currency Futures | Rs 20 or 0.03%/order (whichever is lower) |
| Currency Options | Rs 20 or 0.03%/order (whichever is lower) |
| Commodity | Rs 20 or 0.03%/order (whichever is lower) |
| Mutual Fund | Rs 0 (Free Unlimited Direct MF) |
Zerodha margin
| Equity | 4 to 10 times for Intraday |
| Equity Futures | 40% of exchanged prescribed margin in Zerodha |
| Equity Options | 40% of exchanged prescribed margin for selling. No margin on buying |
| Currency Futures | 100% of exchanged prescribed margin in Zerodha |
| Currency Options | 100% of exchanged prescribed margin in Zerodha |
| Commodities | 50% of exchanged prescribed margin in Zerodha |
Demat account charges and AMC charges in Zerodha
| Transaction | Charges |
| Trading & Demat account opening charges Zerodha | Rs 200 |
| Trading account AMC | Rs 0 |
| Demat account AMC | Rs 300 per year |
How to open a Zerodha Demat account?
To open a demat account with the best stock broker in India that is Zerodha, follow the given steps:
- Go to the official Zerodha website.
- Click on the ‘Open an Account’ button on the website.
- Provide your mobile number in the designated field. An OTP (one-time password) will be sent to your mobile for verification.
- Enter the OTP received on your mobile to verify your number.
- Fill in your details such as name, date of birth, PAN number, and Aadhar number. Aadhar is mandatory for online account opening.
- Upload scanned copies of your address proof (e.g., Aadhar card, passport, driving license) as per the instructions provided.
- Input your bank account details for linking with the demat account.
- Provide details about your annual income for trading in derivatives.
- Electronically sign the application using an Aadhar-based e-sign process.
- If you wish to authorize Zerodha to debit shares from your demat account, e-sign the PoA form.
- Complete the IPV process through a video call where an agent will verify your identity and documents.
- Sign the required forms and courier them to the Zerodha office within a specific period, usually within a week.
- Once Zerodha receives and processes your forms, your demat account will be activated.
People also read:- Best Demat Account in India
Zerodha trading platforms
- Kite web:- Zerodha’s Kite Web is a browser-based trading platform that uses HTML 5 technology. It is fast and easy to use on any device, whether it is a laptop, tablet, mobile phone, or desktop. With Kite Web, users can trade and invest in various markets, such as stocks, futures, options, commodities, and forex, with minimal hassle and maximum efficiency.
- Kite app:- With Zerodha’s Kite app, users can enjoy India’s top mobile trading app that has a user-friendly, smart, and easy interface. The Kite app is designed to work fast even with low internet speed. It also provides a great charting package with ChartIQ and TradingView charts, various chart types, trading from the chart, and many technical indicators and drawing tools. The Kite app lets users trade on their Android and iOS devices with convenience and flexibility.
- Zerodha coin web and app:- Zerodha’s Coin is a free platform for investing in mutual funds, both on the web and on mobile. Coin lets you invest in direct mutual fund schemes from over 40 well-known fund houses like Axis, HDFC, SBI, Mirae, Edelweiss, and Aditya Birla, without any fees, commissions, or subscriptions. You can also redeem your investments for free. You can pick any scheme from thousands of open-ended direct options and start a SIP or make a lump sum investment. By investing in direct mutual funds on Coin, you can save up to 1% commission every year.
- Zerodha console back office:- Zerodha’s Console is a reporting dashboard that lets you access all your reports, such as P&L, portfolio, trading, fund transfer, and tax reports. You can also apply for IPOs online through UPI for free using the Console reporting backoffice. You can log in to the console dashboard with your Kite credentials.
- Zerodha third-party trading platforms:- Here are some Zerodha third-party trading platforms:-
- Zerodha sentinel price alert tool:- Zerodha’s Sentinel is a tool that lets you set up free price alerts for any number of stocks. You get notified instantly when the alert is triggered. You can make alerts for different scenarios, such as simple, complex, long-term, F&O, and SIP.
- Zerodha Smallcase:- Zerodha’s Smallcase is a platform with which you can invest in a theme or idea that suits your goals. You can choose from over 500 ready-made Smallcase or make your Smallcase portfolio by picking stocks that you like.
- Zerodha Sensibull:- The Sensibull platform helps traders find the best options trading strategies for their requirements. It offers several features like strategy research, wizards, virtual trading, and strategy builders that let clients make their customised strategies.
- Zerodha Streak:- With Zerodha Streak you can algo trading in three steps, firstly make your algo strategy then test it, and use it on real trades. You don’t need to know much programming or coding to use Streak.
- Zerodha Stockreports:- You can access in-depth research reports on over 3000 Indian stocks across different sectors and markets with the Stockreports platform of Zerodha. Stockreports+ ratings, such as industry and proprietary ratings, are regularly updated to give you the most accurate and current reports.
People also read:- best trading app in India
Pros and cons of Zerodha
| Pros of Zerodha | Cons of Zerodha |
| A leading discount broker in India. | There are a few complaints about customer service. |
| Provides a user-friendly platform. | Does not offer research or analysis tools. |
| Offers features, resources, and tools that are useful for both new investors as well as experienced ones. | |
| Offers very low brokerage fees. |
Zerodha Vs 5Paisa Vs Upstox Vs Fyers Vs Paytm Money
| Broker | Zerodha | 5paisa | Upstox | Fyers | Paytm Money |
| Service Type | Discount Broker | Discount Broker | Discount Broker | Discount Broker | Discount Broker |
| Brokerage Range | Rs 20 | Rs 20 | Rs 20 | Rs 20 | Rs 20 |
| Account Type | 3 in 1 | 2 in 1 | 3 in 1 | 2 in 1 | 2 in 1 |
| Equity Delivery | 0 | Flat Fee Rs 20 | 2.5% or Rs 20 whichever is lower | 0 | 2.5% or Rs 20 whichever is lower |
| Equity Intraday | 0.03% or Rs 20 whichever is lower | Flat Fee Rs 20 | 0.05% or Rs 20 whichever is lower | 0.03% or Rs 20 whichever is lower | 0.05% or Rs 20 whichever is lower |
| Equity Futures | 0.03% or Rs 20 whichever is lower | Flat Fee Rs 20 | 0.05% or Rs 20 whichever is lower | 0.03% or Rs 20 whichever is lower | 0.02% or Rs 20 whichever is lower |
| Equity Options | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 |
| Commodity | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | NA |
| Currency Futures | 0.03% or Rs 20 whichever is lower | Flat Fee Rs 20 | 0.05% or Rs 20 whichever is lower | 0.03% or Rs 20 whichever is lower | NA |
| Currency Options | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | Flat Fee Rs 20 | NA |
| Rating | 4.5 | 4 | 4.5 | 4 | 4 |
People also read:- Zerodha Vs. mStock.
Zerodha Reviews and Rating By PaperTradingApp
Reviews of Zerodha
Charges Review
- No brokerage on equity delivery and a flat fee on other segments.
- Their call & trade fees are more than other low-cost brokers.
- They have only one plan, but it has extra charges like pay per order, auto square off (if Zerodha closes your position), and so on.
Customer service review
- Customers can contact Zerodha by email or phone, but the support is often unsatisfactory (tickets are not resolved).
- Zerodha does not assign a Relationship Manager to new accounts.
Ease of use review
- Zerodha has user-friendly trading platforms, but they have different platforms for different investment products, which can be confusing.
- Sometimes, the order execution speed is slow, especially when the market is busy.
Zerodha Rating
| Criteria | Ratings |
| Brokerage Charges & Fees | 9.5 / 10 |
| Research & Advisory | 9.3 / 10 |
| Product & Services | 9.5/ 10 |
| Trading Platforms | 9.2 / 10 |
| Broking Experience | 9.7/ 10 |
| Overall Rating | 9.2/10 |
Conclusion
In conclusion, Zerodha is one of the most preferred options amongst traders and investors as it offers technologically advanced tools and features. It also offers low brokerage charges and flat fees. So, if you are looking for a broker with the lowest brokerage charges then Zerodha is the one for you. However, there are a few complaints about Zerodha’s customer service, and sometimes the order execution takes time. Therefore it is recommended to consider all the above factors and do your own diligence to choose the best broker for you.
FAQs on Zerodha Review
Check various FAQs regarding Zerodha review here.
1. Does Zerodha provide investment in mutual funds?
Yes, Zerodha has a dedicated platform named Coin for mutual fund investments. The coin allows users to invest directly in mutual funds without any commission fees. It provides a user-friendly interface for managing mutual fund portfolios within the Zerodha platform.
2. Is Zerodha free?
Yes, Zerodha offers free equity delivery trades, but there are fixed charges of Rs. 20 or 0.003% for intraday trading.
3. What are the documents required for opening an account with Zerodha?
You require the following documents for opening an account with Zerodha:
- PAN Card
- Aadhar Card
- Bank account statement or passbook
- Canceled cheque
- Income tax return or Form 16
- Address proof (utility bill, rent agreement, etc.)
4. Is it good to invest in Zerodha?
Yes, Zerodha is considered a reputable and popular brokerage platform in India. It is known for its low brokerage fees, user-friendly interface, and innovative features. Many investors find it a good choice for their investment needs, especially for those focused on cost-effective trading.
5. Can I withdraw all my money from Zerodha?
Yes, you can withdraw the funds from your Zerodha account. Zerodha allows users to withdraw their available funds at any time. The withdrawal process typically involves initiating a request through the platform, and the funds are transferred to the linked bank account.
6. Is Zerodha safe for the long term?
Zerodha is considered safe for the long term. It is a well-established brokerage firm and follows industry-standard security measures. However, like any investment platform, it’s essential to stay informed about its services, fee structures, and any updates that may impact your investment strategy.
7. Is Zerodha brokerage fee high?
Zerodha is known for its low brokerage fees, especially for equity delivery trading where it charges zero brokerage. The platform’s transparent fee structure and competitive rates make it attractive for cost-conscious traders. However, specific fees may vary depending on the type of trades and the segment.
8. Does Zerodha charge monthly?
Zerodha does not charge a monthly fee for maintaining an account. However, certain services may have associated charges, such as Call & Trade charges for placing orders over the phone. It’s advisable to review the latest fee structure on the Zerodha website or contact their customer support for detailed information on any charges associated with specific services.