Zerodha Review 2023
is India’s No.1 stockbroker and one of India’s premier brokers offering online flat fee discount brokerage services for investing in stocks, currency, commodities, futures & options, bonds and Govt Securities as well as direct mutual funds.
Zerodha offers equity delivery trades at zero brokerage fees and direct mutual fund investments with zero brokerage costs, while for intraday Futures trades they charge either Rs 20 per trade or 0.03% (whichever is lower), as well as for Options trades they charge Rs.20 per executed order – meaning your maximum brokerage per order at Zerodha cannot surpass Rs 20 for any size amount or segment!
Zerodha Review 2023
Zerodha is currently India’s top stockbroker, boasting an excellent online trading platform and charging low brokerage fees compared to competitors. They strive for continuous improvement and innovation within their company – becoming India’s fastest growing fintech firm over time. Here are the main strengths of Zerodha:
- Stockbrokers with active customers and market volume among their client base; with most new customer acquisition.
- One of the safest, most reliable & trustworthy brokers
- Discover some of the world's leading trading tools available online today.
- Equity Delivery and Mutual Funds incur no brokerage fees from us.
- Maximum brokerage charges per trade is Rs 20; users save 60-90% in comparison with traditional brokers.
- Up to 20x leverage can be offered in intraday trading.
- Offering Zero Commission Direct Mutual Funds.
- Ideal for all investors - active and passive alike; beginners; active traders and algo traders.
Zerodha is an attractive investment because:
- Complaint ratio among active clients on exchange is amongst the lowest.
- At present, it operates debt free.
- Margin Funding is not offered through this source.
- No client securities are held within the pooled account.
- No proprietary Trading is conducted with client funds.
Zerodha Pros & Cons:
Zerodha offers many advantages that should help make up your mind as to whether opening an account with them suits your investment requirements or not. Please read up on their pros and cons before opening one for yourself.
Pros
- Kite, Console and Coin are among the industry's premier trading platforms and tools.
- Broker-free Equity Delivery Trades - When buying stocks using cash-and-carry (CNC), no brokerage charges apply, nor is any leverage involved; once bought, shares get delivered directly into your demat account while any time they are sold off they will get debited directly out.
- Cheapest share broker in India - They operate under an easy pricing structure with rates set at either 0.03% of executed order size, or Rs 20 depending on whether smaller volumes trade, regardless of trade size; with customers incurring maximum brokerage payments of Rs 20 per executed trade order executed.
- Zerodha Referral Program - Refer a friend and earn 10% of brokerage share value as reward!
- Zerodha Is A Self-Clearing Broker Zerodha is a self-clearing broker, meaning they don't charge customers clearing fees when trading stocks with them.
- Pay as you Go Brokerage Plans - Zerodha provides an uncomplicated pay-as-you-go brokerage plan; no prepaid plans are offered.
- Zerodha GTT Orders - Set long-term stop loss and target orders on your stock investments with Zerodha's GTT orders.
- Zerodha Kite 3 mobile is an all-new mobile application developed to serve both passive investors and active day traders with significant speed improvements and user experience enhancements.
- Online IPO Application - Zerodha now makes applying for initial public offerings (IPOs) easier with their Online IPO Application feature. Applicants can make applications directly via Zerodha accounts.
Cons
- Does not provide stock tips, research reports, or recommendations.
- Monthly unlimited trading plans are currently unavailable.
- Lifetime-free AMC demat account plans are no longer offered.
- There will be an extra charge of Rs 50 for all executed orders that do not fulfil customer specifications and do not square off all MIS/BO/CO positions by themselves.
- Call & Trade is offered for an extra cost of Rs 50 per executed order.
- Zerodha does not offer multi-in-1 trading accounts due to its limited banking services offering and due to the nature of the Zerodha Back Office being separate from its trading platform, its data updates overnight in its back office console.
- BSE SME IPOs are currently unavailable while NSE SME IPOs may be found here.
Zerodha Brokerage Charges
Zerodha is the first broker to introduce Zero brokerage for demat account. Any delivery based transaction will have no brokerage. All the other trades like intraday and derivatives (Future and Options) are charges flat Rs20 per trade.
Below Table captures the segment wise brokerage charges of Zerodha. It is important to note the clause “0.03% or Rs 20 which ever is Lower“ This is beneficial to smaller traders.
For example, if one buys shares worth Rs1000 intraday then the brokerage will not be Rs20 but 0.03% of Rs 1000, that is 30paisa.
| Segment | Brokerage Charges |
|---|---|
| Equity Delivery | Zero |
| Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
| Equity Options | Flat Rs 20 per executed order (on Turnover) |
| Currency Fututres | 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 offers equity delivery trades at zero brokerage fee; for intraday trading they charge either Rs 20 per order executed on both sides or 0.033% (whichever is lesser).
| 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: 0.00375% per trade (each side) | NSE: 0.00325% | BSE: 0.00375% per trade (each side) |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/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 Futures brokerage charges start from Rs 20 or 0.03% (whichever is lesser). Options charges start from flat Rs 20 for every executed order or trade executed and flat 0.03% when selling options contracts. Taxes such as STT, Transaction Fee GST SEBI charges and Stamp Duty must also be accounted for when placing trades through Zerodha.
| Charge Type | Equity Futures | Equity Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 |
| Securities Transaction Tax (STT) | 0.1% on both Buy and Sell | 0.025% on the Sell Side |
| Transaction / Turnover Charges | NSE: 0.0019% (each side) | NSE 0.05% (each side) (on premium) |
| Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-sid |
Zerodha Currency Charges
Zerodha Currency Futures brokerage charges are Rs 20 or 0.03% (whichever is lesser), while currency options charges remain flat Rs 20 for every executed order or trade executed, in addition to taxes such as STT, Transaction Fee GST SEBI charges & Stamp Duty charges which the customer is subject to as part of this fee structure.
| Charge Type | Currency Futures | Currency Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 |
| Securities Transaction Tax (STT) | No STT | No STT |
| Transaction / Turnover Charges | NSE: 0.0009% | BSE: 0.00025% | 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 | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/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’s commodity futures brokerage charges range between Rs 20 or 0.03% (whichever is lower) of an executed order’s total cost and commodity options brokerage charges are flat Rs 20 per executed order, in addition to paying applicable taxes such as STT, Transaction Fee GST SEBI charges & Stamp Duty charges.
| Charge Type | Commodity Futures | Commodity Options |
|---|---|---|
| Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 |
| 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 | Agri: 0.00001% (Rs 1/Crore) | Non-agri: 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
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 SEBI charges and transaction charges.
- SEBI Charges: This is charged at Rs 10 per Crore.
- Stamp Duty: Eq Delivery - 0.015% (buy side), Eq Intraday - 0.003% (buy side)
Zerodha Hidden Charges
- Zerodha brokerage hidden charges include call and trade charges, position square-off by broker and SMS trade alerts as outlined below: This feature incurs an extra call charge of Rs 50 per call made and received.
- Customers must square off positions which include misprints/BOs/COs prior to execution of orders, otherwise an additional charge of Rs 50 will apply per executed order.
- Digital Contract Notes can be delivered via Email; physical copies can be requested at an extra fee of Rs 20 per contract for physical copies; courier charges apply separately.
- SMS trade alerts (optional) cost Rs 1. For Equity, F&O and Currency trades this fee increases to Rs 1.5; Commodity alerts cost 0.50 more per SMS alert sent.
- Instant payment gateway fees for over 22 banks: Rs 9 per fund transfer.
- Delivery-based equity selling fees: Rs 13.5 + GST per transaction
Zerodha Online Account Opening System
Zerodha provides online trading options that allow investors to open an account quickly. Just fill out their online account opening form, open their instantaneous account, and start trading immediately – even the same day!
Steps for Opening an Online Zerodha Account (Zerodha Accounts Online)
- Visit Zerodha.com, click on "Register Here" in the right-hand menu bar, and follow instructions.
- Enter Your Mobile Number And OTP Received on Mobile.
- Your details such as PAN number and bank account will need to be filled out during this process.
Zerodha Trading Apps
Zerodha offers their clients various methods for trading:
Kite 3.0 (Web-Based Trading Platform)
Zerodha Kite Web was unveiled for use by its customers in November 2015 as an HTML 5 lightweight trading platform which could be utilised on mobiles, tablets and web browsers alike. Kite was developed internally at Zerodha and since launch has undergone multiple updates; currently Kite 3.0 web platform is provided free to its clients – offering full market watch features, extensive charting with more than 100 indicators across 6 chart types, Cover order placement options such as GTT orders with millisecond order placement speeds as well as cover orders are all features within. Kite 3.0 Web is free to all its clients & clients!
Kite Android/Kite iOS Mobile Trading App: A Comprehensive Trading Solution
Zerodha has released the Kite Mobile app as an Android and iOS smartphone application to facilitate trading from mobile phones. Zerodha customers can take advantage of it free for trading stocks, currency and commodity markets in India via live data streaming from BSE/NSE/MCX exchanges with Kite Mobile App as the most advanced trading app available today in India.
Zerodha Console (Reporting Dashboard)
Zerodha’s Console serves as its back-office platform and trade and reporting dashboard, offering customers access to their investments – stocks, derivatives and mutual funds – along with accessing various reports, account statements and withdrawal requests – in one central place. Furthermore, there are analytics tools such as tradebook and heatmap included within this dashboard.
Zerodha Sentinel Price Alert Tools
Sentinel is a cloud-based tool from Zerodha that enables customers to set price alerts on stocks, futures and options. What sets Sentinel apart is that unlike similar price alert tools which only trigger when the computer is active (either being on or not), price alerts in Sentinel can be set off any time even without physical connectivity; Kite notifications and email updates will notify when alerts have been triggered – giving traders access to real time price monitoring of over 80,000 stocks, derivatives bonds etc across exchanges using Sentinel!
Zerodha Coin (Mutual Fund Investments)
Zerodha Coin is an investment platform developed by Zerodha that enables individuals to invest in Direct Mutual Funds commission-free – offering potential savings of 1.5% annually! Mutual funds deposited to Demat account linked with Zerodha trading account for easy accessibility.
Call & Trade
Customers not online may use Zerodha’s Call & Trade function for placing orders; at an additional charge of Rs 50 per trade. Partner Products Available From Zerodha
Zerodha offers its customers access to its own proprietary trading platforms and tools as well as products developed by other companies using its platform, with many tools compatible with Kite. Zerodha partners may provide trading platforms or tools as part of their offerings as well.
- Smallcase - It is one of the first thematic investment platforms that enables users to invest in pre-curated portfolios of stocks focused on specific themes/ideas/strategies with just a click, including Top 100 stocks, Electric Mobility stocks, Insurance policies etc. Smallcase is designed as an effortless investment platform with everything needed in one convenient place - which investors will discover via their smallcase account.
- Streak is an end-to-end cloud platform designed for retail traders that allows them to easily create algorithms without programming, backtest it against historical data, and execute live in the market. Furthermore, Streak also features real-time information, alerts and position management functions to complete this user experience.
- Sensibull - Sensibull is an options trading platform which recommends strategies based on traders' market viewpoint. Utilising Sensibull, traders can compare various trading strategies, evaluate profitability and risk analysis and execute them directly from its platform. Alternatively, traders may create custom option trading strategies.
- GoldenPi is an online bonds & debentures trading platform offering real-time updates of available investments, payments made directly into your A/C, personal assistance services and no transaction costs imposed to customers - the minimum investment amount in bonds being Rs 10,000.
- Ditto - This online insurance platform allows customers to gain effective and beneficial advice regarding insurance from this app, offering various solutions tailored specifically for its customer base. Through booking free calls with advisors on this investment platform, customers can identify their needs and purchase appropriate plans accordingly - this platform also specialises in health and life coverage options!
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