With the most clients, Zerodha is the top stock broker. The notion of discount broking was developed by Zerodha in 2010. For investments in stocks and mutual funds, Zerodha does not charge a brokerage fee; instead, it charges a flat rate of Rs 20 per intraday and F&O trade. Zerodha claims to oversee a daily turnover of INR 1K crores in commodities and INR 12K crores in stocks, with a total customer base of more than 10 lakh. A well-known participant in the NSE, BSE, and Multi Commodity Exchange is Zerodha (MCX).
According to Zerodha Review’s analysis of the company’s financial records, Zerodha reported a Profit After Tax (PAT) of more than INR 100 crore for the fiscal year 2018–19. These astounding numbers unmistakably demonstrate how effective the discount broker is in the stock brokerage sector today. Over $100 million in income is generated by Zerodha each year.
Zerodha allows you to trade and invest in the below-given segments:
- Equity
- Derivative Trading
- Currency
- IPO
- Mutual Funds
- Commodities
- Government Securities (Latest Inclusion)
In collaboration with IDFC bank, Zerodha has just begun to provide 3-in-1 Demat accounts. The account opening procedure is detailed below in this Zerodha review. By volume, customer base, and overall growth, Zerodha is widely regarded as India’s first and top discount broker.
Types of Zerodha Accounts
Zerodha primarily provides its users with three different types of accounts.
Zerodha Demat Account –
A Demat Account is an account that allows investors to electronically store their shares. Stocks stored in a Demat account are kept dematerialized. The process of converting physical shares into electronic forms is known as dematerialization. You can start a Demat account even if there are no shares present. You can transfer shares that are currently held by another broker to your Zerodha Demat account. Additionally, Zerodha offers the opportunity to dematerialize your actual shares.
Zerodha Trading Account –
You require a trading account to purchase or sell assets on the stock market. Please keep in mind that this account is distinct from your Demat account. You don’t need a Demat account for intraday trading; only a trading account will do. All stockbrokers in India must use this system, although Zerodha may pressure you to establish a Demat account in any way.
Why Open Trading Account?
The Indian Constitution mandates that anyone who wishes to trade on any of the numerous government-recognized indices or exchanges must possess a Demat or, at the very least, a Trading Account. Additionally, there are benefits to signing up as a trader with a reputable brokerage house. Some of the strongest arguments in favour of opening a Zerodha Trading Account are listed below:-
- The new-age traders, who choose contemporary trading platforms over traditional ones, now appreciate and trust Zerodha.
- In terms of the total number of their active clients and the volume they provide to the entire transaction volume of the country’s major exchanges, they assert to be India’s largest brokerage company.
- Some of the most prestigious awards have been given to the discount broker, including the “Retail brokerage of the year 2018” award from the National Stock Exchange, the “Retail broker of the year 2017” award from Outlook Money, and the “Young Entrepreneur of the year (Startup) 2017” award from Ernst & Young.
Zerodha Commodity Account –
You should register a separate commodity account with Zerodha if you intend to invest in commodities. Additionally, since creating a commodities account separately won’t work, you would also need to open a Demat account. Do keep in mind that there will be two types of fees associated with these accounts: those for opening and maintaining the account.
How to open a Demat Account with Zerodha?
The establishment of a Zerodha Account may be done entirely online and more quickly with Aadhar-Esign. Following application submission, account opening typically takes between 24 and 48 hours. The procedure to create a Demat account with Zerodha is outlined below in detail.
- Before you can establish a Zerodha Demat account, you must complete the pop-up form.
- Later, if the online application form requires an electronic signature, you will need your Aadhaar number.
- PAN Card to confirm that the PAN Number and Name are accurately inserted.
- You must provide a scan of a voided check with your name OR a copy of your most recent bank statement. Please be aware that your application will be denied if the check does not include your name and the bank documentation does not include the IFSC and MICR codes. It indicates that the check needs to be customized.
- One of the following documents is required to enable the Futures and Options segment:
- a copy of your most recent 6-month bank statement or passbook;
- an original of your form 16;
- Original copy of your net worth certificate;
- Original copy of your most recent pay stub;
- Copy of your most recent ITR acknowledgement;
- Individual Signature
- After submitting everything, wait for document verification. Upon successful document verification, you will be sent your login information for your trading or Demat account.
Zerodha Trading Platforms
The discount broker is a hot choice for both investors and top traders thanks to Zerodha’s competitive brokerage rates and cutting-edge trading platforms. Zerodha developed its trading tools that enhance user interaction, performance, usability, and integrations while also giving it more control over stock trading. Let us look at Zerodha’s top trading platforms
Zerodha Kite
Zerodha KITE is a well-known trading platform created by Zerodha. Customers may trade equities at the BSE, NSE, and MCX thanks to it. It is a front-end application that was created internally by developers at Zerodha. The three primary items offered by the KITE platform are all free to users:
1.Kite Web
An online trading tool with real-time quotes, advanced charts, keyboard shortcuts, a beautiful user interface, and all orders.
2.Kite Mobile App
Android and iOS users may download the Zerodha Kite App. A reliable and simple mobile trading app is Kite Mobile. All of the features offered by Kite Web are accessible through the Kite Mobile App.
3.Kite Connect API
For developers who want to create their front-end platforms or trading tools, Kite APIs are simple HTTP/JSON APIs. Platform as a Service is the term used to describe these APIs.
Top Features of Zerodha Kite
Kite is a fantastic trading platform with multiple features that no other bargain broker provides. Zerodha is adding hundreds of new features with each new edition as Kite is actively being developed. Here are a few distinguishing qualities that make trading with Kite unique.
- Account Summary / Dashboard
- market monitoring
- Watching Quotes
- Market Size Take a look at streaming updates
- The window for Floating Orders
- Exit multiple positions/orders with a single click
- various chart views
Zerodha PI
Desktop trading software called PI by Zerodha claims capabilities including trading, charting, scripting, and analysis. The program must be downloaded and installed on the user’s PC. Some outstanding elements of this trading application include:
- rapid order fulfilment
- Basic and technical analysis is used, and there are more than 70 technical indications in the charts.
- Optional Market Watch
- customized notifications and alerts
Zerodha Trader
It is essentially a modified version of NEST Trader, a terminal-based tool. You may trade in a variety of markets using the program, including derivatives, stocks, and commodities. Its key characteristics are:
- Market Sight
- different order types
- calculator for span
- key shortcuts
Zerodha Coin
The best mutual fund app in India is called Zerodha Coin, and it enables you to purchase mutual funds directly from asset management companies online without paying any commission. Your Demat account contains all of your mutual funds, stocks, currencies, bonds, and other assets.
Zerodha Streak
For technical traders, in particular, the streak is fantastic. Their back test function is very exceptional. It used to take a lot of time to thoroughly validate a strategy before delivery since individuals used to back-test by looking at charts. However, Streak has drastically cut back on labour hours.
Zerodha small case
To provide clients with themed investing alternatives, the discount broker and small case have partnered to create Zerodha Small case. Users may access themed investing alternatives directly on their portal by just opening a Demat account.
The best users of this platform are those who find it challenging to conduct fundamental analysis and seek precise investment advice.
Zerodha Sentinel
To assist traders in making profitable investments Zerodha recently released a platform called Sentinel. The Sentinel platform is a trigger notification system that sends notifications in response to any triggers added by the user.
Zerodha Varsity
One may opt to learn how to interpret the centre of any certain company for long-term investing through Zerodha Varsity. Additionally, if you are a day trader, they will force you to learn about stop losses as well as how to understand market patterns and profit greatly from them. Being wealthy through the stock market is not a journey with quick fixes.
Zerodha Customer Care Review
Zerodha primarily offers customer services to its clients through the following communication channels:
- Phone
- Social Media
It is one area where Zerodha falls short because there are few ways to contact the customer care team. It is the area where Zerodha has to put in a lot of effort to improve customer assistance. Unbelievably, this component is essential to keeping your customers satisfied and it is also the main focus of this Zerodha review.
Even the CEO, Nitin Kamath, has occasionally been seen helping to find answers to some of the users’ questions. His direct involvement sets a standard that the team should follow.
Zerodha Pricing
In India, Zerodha invented the idea of discount brokerage, and it now has the most active clientele of any discount broker. More than 10 lakh customers have already selected Zerodha. 5% of total NSE, BSE, and MCX retail trading volume each day.
Zerodha’s price structure is pretty simple. For intraday trading, F&O, currency, and commodity transactions, they charge a maximum of Rs. 20. They also provide free equity (shares) delivery trades. They have a brokerage calculator that makes calculating fees very easy; Zerodha introduced this idea to the nation.
Zerodha Brokerage charges:
The brokerage structure for Zerodha is as follows.
- Trades based on equity delivery won’t be subject to brokerage fees. Since December 2015, Zerodha has made this the law.
- The relevant prices for intraday equity trading are 0.03% or Rs. 20 per executed order, whichever is less. The same pricing will apply to equity options, but in this instance, the brokerage will also be based on turnover.
- As a result, each trade will have a minimum brokerage of Rs. 20. Additionally, Zerodha provides a live brokerage calculator that enables traders and investors to determine the brokerage fees that apply to their transactions and investments.
Other Zerodha charges
STT – For equity delivery, it is 0.1% for both buying and selling, and for intraday trading, it is 0.025% for selling. It is 0.01% on the sell side for futures and 0.05% on the sell side premium for options.
- Transaction/turnover Fees: On the NSE, equity delivery costs INR 325 for every 1 crore, whereas on the BSE, it costs INR 1 for each deal on both sides. The fees for intra-day are identical on both exchanges. It costs INR 210 per crore for futures on the NSE and INR 1 for each trade (both sides), and INR 5300 per crore for options, with INR 1 for each trade (both sides) on the premium of options.
- GST is 18% on the total brokerage value and transaction fees for Intra-day, Delivery on Equity, and F&O transactions.
- The intra-day and delivery SEBI fees are INR 15 per 1 crore. The equity and F&O are the same.
- Stamp fees – These are assessed per state regulations for both stocks and F&O on both delivery and intra-day transactions.
One of the top discount brokers in India for trading stocks, currency derivatives, and commodities is Zerodha Securities. Discount broking is still king in many ways since it introduced the idea to the nation. Zerodha is a clear victor in the category because of its strong emphasis on client education, brokerage plans, and other aspects highlighted in this Zerodha review including value delivery.
However, what has to be addressed is customer service. It is because customers are still complaining about the company’s customer service department’s lack of professionalism and attentiveness. Therefore, all of the attributes prove that Zerodha is reliable or it is better suited for novices.