ZERODHA

4.5 Overall

Zerodha is a discount broker based out of Bangalore, providing lowest brokerage & advanced trading platform and is on the top of the leading list of discount brokers in India due to its large trading volume, number of customers and growth.

Brokerage Charges4.5
Platforms & Tools 4.5
Customer Service 3.0
Cons
  • Call and Trade is not free.
  • Doesn't have monthly plans.
  • No Provision to Invest in IPOs.

Zerodha Overview

Zerodha, the first company to introduce the concept of discount brokerage in India, was founded by Nithin Kamath on August 15th, 2010 with the goal of breaking all barriers that traders and investors face in India in terms of cost, support, and technology. 

Today, Zerodha is amongst the fastest growing, top volume contributors on NSE, BSE, MCX-SX, and MCX, with an average daily trading turnover of over Rs 10,000 crores.

Nithin Kamath, Founder & CEO, Zerodha, said, "The year 2017 was quite a year for us as a business. We became the largest retail broker in India by turnover on all the exchanges and segments, biggest in India by monthly new client additions and largest standalone direct mutual fund platform in Coin." 


Zerodha Brokerage Charges

When most of the brokerage's firms were charging large amounts of money, Zerodha started offering all equity & Mutual Funds Investment for brokerage free and 0.01% or Rs 20 whichever is lower per executed order for all other segments be it equities intraday, currencies, FnO or commodities. 

Pay attention to the phrase whichever is lower, that’s what makes Zerodha different from others. There are other brokers like SAS Online5Paisa.com & ProStocks who charges flat Rs 9 to Rs 15  it's cheap when you place an order in bulk quantity but it actually becomes expensive when you place small orders many times. With Zerodha you will pay the minimum no matters whether you buy 1000 stocks in a single trade or in 10 trades (10×100). When your brokerage is less, the service tax and education tax which is charged over brokerage also become less making your overall trade charges less.

Equity Delivery 0 (Free)
Equity Intraday 0.01% or Rs 20 Whichever is lower per Executed Order
Equity Futures 0.01% or Rs 20 Whichever is lower per Executed Order
Equity Options Rs 20 Per Executed Order
Currency Futures 0.01% or Rs 20 Whichever is lower per Executed Order
Currency Options Rs 20 Per Executed Order
Commodity 0.01% or Rs 20 Whichever is lower per Executed Order

Zerodha Other Charges

  • DP charges for delivery based equity selling charged only on sell side - Rs 8 + Rs 5.5 = Rs 13.50 per transaction.
  • Call and Trade feature is available at an extra cost of Rs 20/- per call.
  • Digital Contract notes are sent via Email. Physical copies of contract notes can be ordered at an additional charge of Rs 20/- per contract + Courier charges.
  • 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.

ZERODHA ACCOUNT OPENING CHARGES:

  • Trading Account Opening Charges (One Time): Rs 200
  • Demat Account Opening Charges (One Time): Rs 100
  • Trading Annual maintenance charges (AMC): NIL
  • Demat Account Annual Maintenance Charges (AMC): Rs 300 Per Year
  • Commodity Account Opening Charges (One Time): Rs 200

Zerodha Platforms & Tools

Zerodha offers two platforms, a Browser-based/Mobile Application Kite and a Desktop platform PI, which is the company’s flagship product and core focus.

ZERODHA PI

The desktop platform PI encompasses everything an active trader could desire. The tools provided cater to every type of professional investor, including institutional investors such as hedge funds.

This is how PI trading application looks like:

Listed below are some of the features of Zerodha PI application:

  • Advanced charting: 10 chart types with over 100+ indicators. without any cost for data is one of the big pluses of Pi.
  • Algos, Strategies and Back Testing: Code advanced with a simple yet powerful scripting language.Use the free Historical data to back-test our strategies and even semi-automated them.
  • Historical Data: 50,000 candles worth of FREE historical Data for Stocks, Indices, F&O, Currency, and Commodity.
  • Expert Advisors: Real-Time trade signals from Automated Expert Advisors by using our own Strategies or Strategies from Others.
  • Trading from the Charts: We can place orders from Charts, for the first time in India.
  • PI Bridge: Pi Bridge to give seamless and reliable connectivity from the charting or programming tool to the trading engine on Pi. The plan is, whatever be your front end, will help to fire orders using the bridge.

Technically, PI is top-notch in charting feature and the way it provides the technical analysis for traders. The Back-testing is a great feature for research and technical analysis.With fast speed and low bandwidth use.

ZERODHA KITE WEB 

Kite is a very light, responsive but at the same time very powerful web platform which works on any web browser, no need to install or download anything. To access this application, user just needs to go to the official website, click Login, enter username and password and get going with their trading.

This is how KITE web platform looks like:

It comes with the following features-

  • Works at a bandwidth consumption of fewer than 0.5 kbps for a full market watch.
  • Provides extensive charting with over 100 indicators and 6 chart types.
  • Advanced order types like Bracket and cover orders.
  • Millisecond order placement.

Kite web is one of the most used web trading platforms. In terms of both performance & usability, it is considered to be the best web-based trading platform.

ZERODHA KITE MOBILE APP

Kite Mobile application is pretty much carried all the functionalities present in browser-based kite trading application. 

Here are some of the top features of the mobile app: 

  • One-tap universal instrument search for all contracts across all exchanges - NSE, BSE, MCX.
  • Live streaming data.
  • Multiple market watch and live market depths.
  • Advanced charts with 100+ indicators.
  • Years worth of free historical chart data

ZERODHA TRADING TOOLS

Zerodha has provided great resolution in technology by providing number of user-friendly tools like - 


Zerodha Education & Research

Zerodha doesn't give stock tips but empowers by teaching how to trade through there initiatives like Varsity and Tradingqna.

  • Varsity: Free online course on Indian stock market.
  • Trading QnA: Zerodha community Answers to questions on trading and markets. 

It is about teaching a man how to fish, rather than giving him one.


Zerodha Customer Service

Zerodha Offers the following communication channels for its clients to get in touch with them :

  • Email – support@zerodha.com.
  • Phone – (080)-40402020/33102020.
  • Web form - https://support.zerodha.com/

Zerodha should certainly look forward to increase the number of communication channels such as web chat, Tool-free numbers so that clients can have a better number of options to get service on the move.

However, as of now, the communication quality is fine but primarily the focus of the executives stays a little “disappointing". Thus, Clients who trade regularly might find the overall quality below average.


Zerodha Closing Thoughts

Zerodha is a very well respected broker, competing among the largest brands in the online broker space. The backbone of Zerodha's success, specialty services and trading platforms, will certainly continue to be front and center for many years to come.