Zerodha Stock Trading Review 2024
Zerodha Account Opening Enquiry:
Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account online with Zerodha and start trading today.
Zerodha is India’s largest stockbroker in terms of clients. It is largest and most popular broker offering online flat fee discount brokerage services to invest in Equity, Currency, Commodity, IPO and Direct Mutual Funds.
Zerodha charges Rs 0 brokerage for equity delivery trades and direct mutual funds. For intraday and F&O, it charges flat Rs 20 or 0.03% (whichever is lower) per trade. With Zerodha, the maximum brokerage you pay for any transaction is Rs 20 for an order (of any size, amount or segment).
Zerodha Review:
Zerodha is one of the best stock broker at this time. This company offers an excellent online trading platform, they have lower brokerage fee, and are the most transparent stock broker. Continuous improvement and innovation made them the fastest-growing fintech company in India. Here are the key strengths of Zerodha:
- The largest stockbroker by active clients, market volume and new customer acquisition.
- One of the safest, most reliable & trustworthy brokers.
- Offers the most advanced online trading tools.
- Charges zero brokerage fees for Equity Delivery and Mutual Funds.
- The maximum brokerage charged is Rs 20 per trade. You save 60% to 90% on brokerage in comparison to traditional brokers.
- Offers up to 20x leverage on intraday trading.
- Offers Zero Commission Direct Mutual Funds.
- Suitable for all kinds of investors including active and passive investors, beginners, active traders and algo traders.
Zerodha is the most technologically advanced stock broker in India. Zerodha has built it’s own trading software Zerodha Kite (web and mobile trading app), Coin (mutual fund investment platform), Varsity (investor education program), Trading Q&A and many other tools. Zerodha also offers Smallcase (thematic investment platform), Streak (algo & strategy platform), Sensibull (options trading platform) and GoldenPi (bonds trading platform).
Zerodha is safe for investment because:
- Its ratio of complaints to active clients is among the least on the exchange.
- It is a zero-debt company.
- It doesn’t offer Margin Funding.
- It doesn’t keep client securities in the pooled account.
- It doesn’t do proprietary Trading with client funds.
Free Equity Delivery Trading and Mutual Funds
- Brokerage-free Equity Delivery and flat Rs 20 per trade for Intraday & F&O +
- Brokerage-free Direct Mutual Fund investment +
- Trade with the best trading platform in India.
This is a limited-time offer. Open Instant Zerodha Account online and start trading today.
Zerodha Account Opening Charges:
Zerodha account opening charges are Rs 200 for online account opening. If you choose to open an account offline, you will be charged Rs 400. The demat account AMC is Rs 300 per year.
| Transaction | Charges |
|---|---|
| Trading & Demat Account Opening | Rs 200 |
| Trading Account AMC | Rs 0 |
| Demat Account AMC | Rs 300 per year |
Zerodha Brokerage Charges:
Zerodha follows a fixed brokerage model wherein it charges a flat Rs 20 or 0.03% (whichever is lower) per executed order. It charges zero brokerage on equity delivery. The maximum brokerage chargeable per order is Rs 20.
| Trading Segment | Brokerage Charges |
|---|---|
| Equity Delivery | Rs 0 (Free) |
| Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Future | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Currency Options | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Commodity | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Mutual Fund | Rs 0 (Free Unlimited Direct MF) |
Zerodha Equity Charges:
Zerodha charges Rs 0 (no brokerage) for equity delivery trades. For intraday trading, they charge flat Rs 20 per executed order or 0.03% (whichever is lower) on both sides.
| Charge Type | Equity Delivery | Equity Intraday |
|---|---|---|
| Brokerage | Rs 0 (No Brokerage) | Flat Rs 20 or 0.03% (whichever is lower) |
| Securities Transaction Tax (STT) | 0.1% on both Buy and Sell | 0.025% on the Sell Side |
| Transaction / Turnover Charges | NSE: 0.00325% | BSE: 0.003% per trade (each side) | NSE: 0.00325% | BSE: 0.003% per trade (each side) |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | Rs 5/Crore | Rs 5/Crore |
| Stamp Charges | 0.015% (Rs 1500 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Zerodha F&O Charges:
Zerodha F&O brokerage charge is flat Rs 20 per executed order or 0.03% (whichever is lower). You also have to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
| Charge Type | Equity Futures | Equity Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
| Securities Transaction Tax (STT) | 0.01% on Sell Side | 0.05% on Sell Side(on Premium) |
| Transaction / Turnover Charges | NSE: 0.0019% | BSE 0.003% (each side) | NSE 0.05% | BSE 0.003% (each side) (on premium) |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | 0.00005% (Rs 5/Crore) | 0.00005% (Rs 5/Crore) |
| Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Zerodha Currency Charges:
Zerodha currency brokerage charge is flat Rs 20 per executed order or 0.03% (whichever is lower). In addition to brokerage, the customer has to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
| Charge Type | Currency Futures | Currency Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
| Securities Transaction Tax (STT) | No STT | No STT |
| Transaction / Turnover Charges | NSE: 0.0009% | BSE: 0.00022% | NSE: 0.035% | BSE: 0.001% (on premium) |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | 0.00005% (Rs 5/Crore) | 0.00005% (Rs 5/Crore) |
| Stamp Charges | 0.0001% (Rs 10 per crore) on buy-side | 0.0001% (Rs 10 per crore) on buy-side |
Zerodha Commodities Charges:
Zerodha commodity brokerage charge is flat Rs 20 or 0.03% (whichever is lower) per executed order. Along with this, customers have to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
| Charge Type | Commodity Futures | Commodity Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
| Securities Transaction Tax (STT) | 0.01% on sell side (Non-Agri) | 0.05% on sell side |
| Transaction / Turnover Charges | Group A: Exchange txn charge: 0.0026% Group B: Exchange txn charge: Pepper – 0.00005%, Castorseed – 0.0005%, Rbdpmolein – 0.001% | Rs 0 |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | 0.00005% (Rs 5/Crore) | 0.00005% (Rs 5/Crore) |
| Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Note: SEBI charges for Agri products is 0.00001% (Rs 1/Crore).
Zerodha Fee Structure:
- Securities Transaction Tax (STT): This is charged only on the sell side for intraday and F&O trades. It is charged on both sides for Delivery trades in Equity.
- Transaction Charges (Exchnage Turnover Charges): This fee charged by the stock exchanges for using their trading platform.
- Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus transaction charges.
- SEBI Charges: This is charged at Rs 5 per Crore.
- Stamp Duty: Eq Delivery – 0.015% (buy side), Eq Intraday – 0.03% (buy side)
Zerodha Hidden Charges:
Zerodha brokerage hidden charges include call & trade charges, position squared-off by broker and SMS trade alerts as explained below:
- Call and Trade feature is available at an extra cost of Rs 50 per call.
- Additional charge of Rs 50 per executed order for MIS/BO/CO positions which are not square off by the customer.
- Digital Contract notes are sent via Email. Physical copies of contract notes can be ordered at additional charge of Rs 20 per contract. Courier charges are extra.
- Trade SMS alerts (optional) are charged at Rs 1 for Equity, F&O, and Currency trade alerts and Rs 0.50 for Commodity trade alerts.
- Instant payment gateway charges for over 22 banks: Rs 9 per fund transfer.
- DP charges for delivery based equity selling: Rs 13.5 + GST per transaction.
Visit Zerodha Brokerage Charges Review for more detail.Special Offer: Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account online with Zerodha and start trading today.
Zerodha Online Account Opening
For online trading with Zerodha, the investor has to open an account. Fill in an online account opening form to open an instant account and start trading the same day.
Zerodha Trading Software (Zerodha Trading Platforms)
A customer can trade with Zerodha in following ways:
Kite 3.0
Kite 3.0 (Web-based Trading Platform)Launched in November 2015, Zerodha Kite Web is a web-based HTML 5 lightweight & fast trading platform which can be used for trading on mobile, tablets as well as on a web browser. Kite is developed in-house by Zerodha and since its launch has undergone various updates.
Currently, Kite 3.0 web platform is offered by Zerodha. It offers full market watch, extensive charting with over 100 indicators and 6 chart types, advanced order types like Cover order, GTT order, millisecond order placements, and much more for trading at BSE, NSE and MCX. Kite Web 3.0 is available for free to all its customers.
Kite Android / Kite iOS (Mobile Trading App)A smartphone application for Android and iOS. This app allows customers to trade from their mobile phones. Kite Mobile app is available for free all its customer for trading & monitoring stocks and commodity markets in India. With live streaming data from BSE, NSE and MCX, Kite Mobile App is the most advanced trading app available in India.
Zerodha Console (Reporting Dashboard)
Console is the back-office platform of Zerodha. It is a trade and reporting dashboard wherein Zerodha customers can view and monitor all their investments- stocks, derivatives and mutual funds etc. They can also access various reports, get account statements, place withdrawal requests and download contract notes. The ‘Console’ also offers analytics tools such as tradebook and heatmap.
Zerodha Sentinel (Price Alert Tools)
Sentinel is a cloud-based tool which allows Zerodha customers to set up price alerts on stocks, futures and options. The unique feature of Sentinel is that unlike other similar price alert tools that are machine dependent and only trigger when the computer is on, here price alerts can be triggered for any time, even when the computer is off. Notifications are sent on Kite and e-mail every time a price alert is triggered. With Sentinel, a trader can set real-time price alerts on 80,000 stocks, derivatives and bonds etc., across exchanges.
Zerodha Coin (Mutual Fund Investment)
Zerodha Coin is a Mutual Fund investment platform by Zerodha. Coin allows people to invest in Direct Mutual Funds. This means you could do commission-free direct MF investment. It offers savings of over 1.5% on commissions every year. Mutual Funds are deposited in Demat account linked with Zerodha trading account.
Call & TradeCustomers who are not online; can use Call & Trade service for an additional cost of Rs 50 per trader.
Partner Products From Zerodha
Zerodha not only gives its customers access to its proprietary trading platforms and tools but also to products developed by other companies using the Zerodha platform. The tools can be integrated with Zerodha’s Kite platform. Trading platforms and tools offered by Zerodha partners are-
- Smallcase- It is one of its kind thematic investment platforms that enables users to invest in a ready-made portfolio of stocks created around a theme/idea or a strategy. There are several choices in smallcases like Top 100 stocks, Electric Mobility, Insurance etc., for an investor to choose as per his investment strategy and invest in a single click.
- Streak- An end-to-end cloud-based platform for retail traders to create algorithms without coding, Backtest it on historical data and execute them live in the market. It offers other features like real-time information, alerts and manage positions.
- Sensibull- It is an options trading platform that suggests trading strategies to traders based on their market view. With Sensibull, traders can compare various strategies, evaluate their profitability, understand risks and then execute it from the platform. It also allows traders to create custom option trading strategies.
- GoldenPi- It is an online bonds & debentures trading platform. The automated, and technology-enabled platform provides real-time updates on new investment options, incoming interest payments to your A/C, and personal assistance. GoldenPi doesn’t charge any fee from customers. The minimum investing amount in bonds Rs 10,000.
Visit Zerodha Trading Software Review for more detail.
Zerodha Pins
Zerodha customer gets 3 pin numbers (passwords or pass codes) for different purposes:
- Kite PIN (for Login to Kite)
- Zerodha Telephone Code (for calling Zerodha)
- Zerodha CDSL TPIN(for Demat Sell Transaction)
Zerodha Short Selling
- Equity F&O Segment – Zerodha allows intraday and overnight short selling in the F&O segment.
- Equity Cash Segment – Zerodha allows short selling only for Intraday, but not for overnight positions.
Zerodha Pros and Cons
Zerodha Pros (Advantages)
The following are the advantages of Zerodha. You must read Zerodha advantages and disadvantages before opening an account with Zerodha. Zerodha pros and cons help you find if it suits your investment needs.
- Most popular Broker – Zerodha is the largest stock broker in India (by the number of active clients and daily trading volume).
- Safest, most reliable & trustworthy broker in India
- The best trading platforms & tools in the industry – Kite, Console and Coin
- Brokerage free Equity Delivery Trades – You don’t pay any brokerage when you buy shares using cash-and-carry (CNC). Delivery trade has no leverage. Once bought, shares get delivered to your demat account and if sold, shares will get debited from your demat account.
- Cheapest share broker in India – They offer services under a simple pricing model. They charge 0.03% or Rs 20 per executed order, whichever is lower, regardless of the trade size. The maximum brokerage paid by the customer is Rs 20 per trade.
- Zerodha Referral Program – Refer a friend and earn 10% of brokerage share.
- Self-Clearing Broker – Zerodha is a self-clearing broker. They don’t charge clearing charges from customers.
- Pay as you go Brokerage Plans – Zerodha has simple pay-as-you-go brokerage plan. There are no prepaid brokerage plans available.
- Zerodha GTT orders – Set long-standing stop loss and target orders for your stock investments.
- Zerodha Kite 3 mobile – An all-new mobile app built for both, passive investors and active day traders, with significant speed and user experience enhancements.
- Online IPO Application – You can apply for new IPOs (Initial Public Offerings) directly with a Zerodha account.
Zerodha Cons (Disadvantages)
The following are the cons of Zerodha. Check the list of Zerodha drawbacks.
- Doesn’t provide stock tips, research reports or recommendations.
- Monthly unlimited trading plans are not available.
- Lifetime free AMC demat account plans are not available.
- An additional charge of Rs 50 per executed order for MIS/BO/CO positions which are not square off by the customer.
- Call & Trade is available at an additional fee of Rs 50 per executed order.
- 3-in-1 trading account is not available as Zerodha doesn’t provide banking services.
- Unlike most 3-in-1 accounts providers, Zerodha Back Office (console) is not integrated with its trading platform. The data in the back office gets updated overnight.
Zerodha Margin Exposure
Zerodha margin for intraday trading is up to 6x based on the stock. Zerodha F&O intraday trading margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. There is no additional margin offered for Zerodha F&O carry forward positions and equity delivery trades.
| Segment | Margin |
|---|---|
| Equity Delivery | 1x (no margin) |
| Equity Intraday | Up to 6x (based on the stock) |
| Equity Futures & Options | Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure) |
| Currency Futures & Options | Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure) |
| Commodity Futures | Intraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure) |
Note: As per the new margin policy by SEBI, the margin for trading will be decided by the exchange from Sept 01, 2022. Brokers cannot offer ‘additional margin’ like 20x in any segment at BSE, NSE, and MCX. All full-service and discount brokers will provide the same margin exposure to customers.
Zerodha Complaint
The number of Zerodha customer complaint received by the exchanges. The Zerodha consumer complaint report helps understanding the Zerodha quality and relibility of service.
| Exchange | Financial Year | Number of Clients* | Complaints** | % |
|---|---|---|---|---|
| NSE | 2022-22 | 4,304,501 | 217 | 0.01% |
| NSE | 2020-21 | 3,602,074 | 868 | 0.02% |
| BSE | 2020-21 | 452,471 | 19 | 0% |
| NSE | 2019-20 | 1,414,376 | 432 | 0.03% |
| BSE | 2019-20 | 451,299 | 25 | 0.01% |
| NSE | 2018-19 | 887,267 | 265 | 0.03% |
| BSE | 2018-19 | 234,716 | 24 | 0.01% |
| NSE | 2017-18 | 540,905 | 339 | 0.06% |
| BSE | 2017-18 | 259,642 | 28 | 0.01% |
| NSE | 2016-17 | 165,586 | 99 | 0.06% |
* The number of active customers reported by the broker.
** The total number of complaints received against the broker at the given exchange.