Zerodha Review - A Discount Share Broker India 2017


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Overall

With high-class technology, unique trading tools and three-way trading platform, Zerodha is giving its clients an edge in trading and decision making. Pioneer in introducing low brokerage scheme, Zerodha manages to satisfy both casual and active investors.

Brokerage Charges
Investments Offering
Trading Platform
Customer Service

Why Zerodha?

  1. Free trading in Equity Delivery.
  2. Zerodha Charge flat rate of Rs 20 per executed order for trading in stocks, F&O, currency and commodity.
  3. Zerodha PI,the most advance trading platform introduced by Zerodha.
  4. Zerodha KITE, is a lightweight, low bandwidth, multi-language web base trading platform.
  5. Supports desktop base, web base and mobile base trading platform.
  6. 60-day challenge contest by Zerodha where you trade profitably and get full brokerage refund.
  7. Innovative and unique trading tools – SPAN Calculator, algoZ, Option Strategy, Market Monitor,etc.
  8. No upfront fee, no minimum brokerage and no minimum contract charges.
  9. Own DP Service.
  10. Invest in Mutual Funds.
  11. NRI Trading - First Discount broker providing NRI services.
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Special Offer: 100 Rs off on account opening fee for limited time. Sign up now.
LikesLikes

  • Strong customer support.
  • User-friendly Brokerage and margin calculators.
  • least transaction charges and low brokerage plan.
  • The motivation program like "60-days challenge".

DislikesDislikes

  • Doesn't have monthly plans.
  • Call and trade is not free.
  • Doesn't provide facility to invest in IPO.

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Zerodha Review - 2017

Zerodha with a unique name and meaning,no Barrier Zero + rodha ( Barrier in English)is emerging as a single largest Discount Broker in India having customers exceeding 75,000 and daily turnover of 7000 cr.

When it come to customer support, Zerodha delivers a consistent and often memorable experience. Most of the time, the queries of customers are answered by the CEO of company itself or by experts in that field. Opening account with them is a breeze and hassle free. As per my personal experience, within an hour of completing the application online, a Zerodha representative called me to welcome and explained all initial questions I had. He also guided me to read Z-connect, an interactive blog written by experts which I feel is detailed but simple to understand and is a cool place to learn for amateurs.

Being a discount share broker, my expectation from Zerodha was to charge minimum share brokerage for my trading, that comes true by paying 20 Rs or .01% per executed order whichever is minimum for F&O, option, commodity and currency trading.They have made trading in Equity Delivery completely Free . As Zerodha is not a 3 in 1 brokerage, there is initial work to setup the account but any online bank can be linked to Zerodha.

For Demat,Earlier Zerodha was having tie up with ILFS but now they have their own DP Service. Transfer between trading account and Demat account is seamless if you open Demat account with zerodha. With them, you can trade on Equity, F&O, Commodity, and currency on NSE, BSE, MCX and MCX-SX,Mutual Funds . Unlike other discount Brokers, Zerodha has branches in 20 cities of India other than Banglore main office.

Now investing in Mutual Funds is also possible with Zerodha. They recently facilitiate traders to now invest in Mutual Funds with them.Investment option for IPO,FPO and OFS (Offer for sale) are not available with Zerodha which is pretty much standard with all the discount share brokers.

Zerodha Reward programmes like refer a friend and Get an Affiliate link gives you an opportunity to earn 10% of brokerage or Rs 2 on every trade executed by your referral.

Request call back from Zerodha
Zerodha with closest competitors
Broker Zerodha ICICIDirect Sharekhan SAS Online ProStocks
Service Type Discount Broker Full Service Broker Full Service Broker Discount Broker Discount Broker
Brokerage Rs 20 0.05 to .55% 0.1 to 0.5% Rs 9 or 999 PM Rs 15
Account Type 2 in 1 3 in 1 2 in 1 2 in 1 2 in 1
Monthly Plans No No No Yes Yes
Rating
Please refer unique and accurate Zerodha Brokerage Calculator

Zerodha Brokerage Charges - 2017

As Zerodha started the new concept of discount share broking in Indian share market, you can save 80 to 90% on brokerage with them. Their brokerage rates are super cheap as compared to full service brokers and very competitive among its nearby discount share brokers. Zerodha entered in a new concept of Brokers as a Free Broker by introducing Equity Delivery Trades @ Rs 0 Brokerage . It's Rs 20 flat-rate share trades is equal to RKSV (Rs 20), while slightly more expensive then Trade Smart Online (Rs 15) and SasOnline (Rs 9).

Trading Brokerages
  • Equity Delivery Trading Brokerage:Free
  • Equity Intraday Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)
  • Equity Future Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)
  • Equity Options Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower) (on Turnover)
  • Commodity Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)
  • Currency Futures Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)
  • Currency Options Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)
Account Charges
  • Trading Account Opening Charges (One Time): Rs 200(for self printed form) or Rs 300 (for using their forms)
  • Demat account Opening Charges (One Time): Rs 100
  • Trading Annual maintenance charges (AMC): NIL
  • Demat Account Annual Maintenance Charges (AMC): Rs 300 Per Year
Other Charges
  • 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 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.
  • DP charges for delivery based equity selling charged only on sell side - Rs 8 + Rs 5.5 = Rs 13.50 per transaction.
  • Standard NSE charges, transaction charges and statutory levies are charged.

For STT,Stamp Duty,Service Tax and SEBI Charges please refer to the Brokerage Plan tab.

Zerodha offers three types of account to its clients:

  1. Zerodha Trading Account:Zerodha offers online trading account to trade in stocks, derivatives, indices and currencies on NSE and BSE. Trading can be done through software based platform, web based platform or a mobile application and Call & Trade option. All settlements on a Trading Account happens on T+1 day. There is no Annual Maintenance charges (AMC) for Trading Account. Account opening is Rs 300.
  2. Zerodha Demat Account:You need a Demat Account only to trade in delivery based equity trading. The shares will show up in your Demat Account only on T+2 day.You don't need a Demat Account if you are trading in F & O whether you're an Intraday trader or a positional (overnight) trader. Demat Account opening charges is Rs 100 and AMC is Rs 300.
  3. Zerodha Commodity Account:You can only trade in Commodity Future on MCX exchange with Zerodha.There are no Annual Maintenance charges for your Commodity Account at Zerodha. Only futures trade on MCX and hence there is no need of a Demat Account for trading Commodities. Commodity Options have still not started in India.Account opening charges for commodity trading is Rs 300.

Zerodha margin/exposures/leverage for MIS orders

  1. Zerodha exposure for intraday trading - Zerodha offers 10 times exposure or leverage for stocks on which F&O trading is allowed. Margins are provided only for intraday trading.
  2. Zerodha exposure for trading in equity and indux futures - Zerodha offers 3 times or 40% of NRML margin for futures trades.
  3. Zerodha margin for Options - Zerodha offers 3 times or 40% of NRML margin .
  4. Zerodha exposure for currency futures - Zerodha offers 50% of NRML margin.
  5. Zerodha exposure for commodity futures - Zerodha offers 50% of NRML margin.

Zerodha margin/exposures/leverage for CO orders

  1. Zerodha exposure for intraday trading - Zerodha offers upto 20 times exposure or leverage for stocks on which F&O trading is allowed. Margins are provided only for Intraday trading.
  2. Zerodha exposure for trading in futures - extra margin compare to NRML and MIS order

Zerodha Exposures for CNC or NRML orders

  1. Zerodha don't offer any margin for CNC(Cashn Carry) orders.
  2. Zerodha margin for F&O overnight position - as per exchange stipulated margins
For complete brokerage charges and trading plans detail please visit Zerodha Brokerage Charges.
Zerodha Brokerage Charges - 20 Rs per executed order
Brokerage Plan 20 Rs per executed order
Flat Fee NA
Equity Delivery Free
Equity Intraday Rs 20
Equity Futures Rs 20
Equity Options Rs 20
Currency Futures Rs 20
Currency Options Rs 20
Commodity Rs 20

Account Opening with Zerodha

To open an trading/DP account with Zerodha,please provide your contact information.

Contact Zerodha

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Are you a day trader?

Zerodha Web, Mobile app and Desktop base trading platform - 2017

Zerodha support Terminal based NEST OMS, Web-based, Mobile apps based and customer telephonic service base trading.

Desktop Based Platform "PI": This is the advanced desktop trading software by Zerodha to minimize all the barriers in smooth trading. Its main features are:

  • Advanced charting.
  • Algos, strategies, & backtesting.
  • Expert advisors for strategy alerts.
See complete Zerodha PI review

Web based trading platform "KITE": KITE is a Lightweight, low bandwidth, multi-language, Integrated, Easy to use, Informational and committed web base free trading platform from Zerodha.

See complete Zerodha kite review

Zerodha Mobile:Zerodha manages to provide Apps for android (lollipop version even), window mobiles and iPhone users to facilitate mobile based trading.You can trade Equities, Futures & Options, Currencies and Commodities and get real-time quotes on over 30000 scrips and place various kinds of orders using Zerodha Mobile app.

Zerodha Call n Trade service have cost of Rs 20 per Trade.

Zerodha is providing a plug-in option for Automatic Trading with AmiBroker. (Advance technical analysis and charting platform).Through this a trader can directly trade from AmiBroker software in the semi-automated or fully-automated way based on his own strategies.

The Quant-a trading pattern report of an individual trader, introduced by Zerodha, is a helpful tool to look into past trade patterns in graphical form. It`s easy to understand and quick to analyses.

The algoZ is a tool where user can write, back test and go live on Technical Analysis strategies [code your technical analysis].

Other than normal trading hours, Zerodha support Pre-market orders, post market orders and After Market orders (AMO). Zerodha provides an option to place Bracket Orders with 'Trailing Stop Loss' for equity and F&O .(Bracket orders are two opposite side orders, designed to help limit your loss and lock in a profit by "bracketing" order.)

For detail review of mobile app and download please visit Zerodha Mobile App.

Zerodha Membership Information

  1. Zerodha NSE Member ID:
    • Capital Market (CM) - INB231390627
    • Future & Options (F&O) - INF231390627
    • Currency Derivatives (CDS) - INE231390627
  2. Zerodha BSE Member ID:
    • Capital Market (CM) - INB011390623
    • Future & Options (F&O) - INF011390623
  3. CDSL: IN-DP-CDSL-00278209
  4. NSDL: IN-DP-NSDL-11496000

Product and Services

3 in 1 Account help
No
Offer Multiple Plans help
No
Monthly Plan help
No
Yearly Plan help
No
Portfolio help
Yes
Charting help
Yes
Automated Trading help
Yes
Allow AMO Order help
Yes
Allow GTC Order help
Yes
SMS Alerts help
No
Margin Trade Funding help
No
Combined Ledger for Equity and Commodityhelp
Yes
NRI Trading help
Yes

Offering of Investments

Equity Cash and F&O help
Yes
Currency F&O help
Yes
Commodity Trading help
Yes
Mutual Funds help
Yes
ETF help
Yes
IPO Investment help
No
Bonds Investment help
No
Debt Investment help
No
Banking Service help
No
Insurance Service help
No
SIP Investment help
No

Trading Platforms & Tools

Desktop Platform (Windows) help
Yes
Desktop Platform (Mac) help
No
Web Platform help
Yes
Stock Alerts Delivery - Email help
No
Stock Alerts Delivery - Text SMS help
No
Virtual Trading help
No
Watch Lists - Streaming Real-time Quotes help
Yes
Mobile Trading help
Yes
Android Tablet App help
Yes
Android App help
Yes
iPhone App help
Yes
iPad App help
Yes
Mobile Trading Site help
Yes

Customer Service

Phone Support help
Yes
Toll Free Number help
No
Email Support help
Yes
Branch Offices help
Yes
Live Chat (Current Clients) help
No
24/7 Support help
No

Reserch and Market Reports

Daily Market Report help
No
Free Tips help
No
Quarterly Results help
No
New Alerts help
No
Mutual Funds Reserch help
No
Reserch Equity Reports help
No
ETF Reserch help
No

Final thought about Zerodha

Zerodha is a well-respected share broker with a great offering. Zerodha has approx over 50,000 [Dec 2014] satisfied customers leading it to India`s one of the best discount share broker house. Customer service is a top-notch and clients have access to a well-known share brokerage platforms and tools. The strong management team gives you more confidence and support in trading. For those who want to take advantage of the latest technologies will find Zerodha to be a great fit.

If you like what you have read and want to choose Zerodha or any other broker, leave your contact information with us and we will guide you.


Zerodha User Reviews

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23. Arwa  Oct 12, 2016 10:34:30 AM IST Reply
I have read zerodha reviews.If zerodha is providing complete support on
watsap I would be interested in it .
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22. khaja mohiddin  Nov 2, 2016 8:53:37 AM IST Reply
Zerodha customer service is very very poor compare to other

always confto whom we have to contract for any issue in zerodha
i have account in zerodha and geojit
geojit customer service is very good they frequently called and update everything but brokerage is costly
for zerodha from last 5years i am using but i am getting any issue i don''t know to whom i have to contact ,they have to arrange relationship managers and customer executives properly.
hidden charges are there poor platform don''t go with zerodha

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21. Gaurav  Sep 3, 2016 7:18:53 AM IST Reply
Can NRI and person resident in India have a joint demat account?
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20. Niraj kumar  Aug 28, 2016 11:12:36 PM IST Reply
Hi friends
I am new trader ,i am bit confusion to open accout, please suggest me which is better SAMCO(ITL) or Zerodha?
I have no more detail knowledge about market ,
For learning point of view please suggest me.
Thank you.
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20.1. Pratyush Singh  Aug 29, 2016 6:56:52 AM IST
I think between Zerodha and SAMCO, you should choose Zerodha because Zerodha not only have high tech tools and platforms but also they have lot of innovative ideas and discussion forums where you can get all sorts of information and answers to all your questions as a beginner in market. Brokerage wise both are same but definitely overall Zerodha is a better choice.
You can also think about Discount Broker like ProStocks as their brokerage is Rs 15 per trade and they have zero account opening for Trading and Demat, no AMC, also lowest stamp duty and transaction charges compare to Zerodha and SAMCO.
avatar
19. rajat batra  Aug 23, 2016 11:50:52 PM IST Reply
Had been using Zerodha and ICICI Direct for past 1 month.
Following are my observations -

Differences -

Costing - Zerodha scores in this aspect as it provided trading at lower brokerages.
Technology/Platforms - Zerodha has surely done its homework in making its platforms ‘easy to use’ and ‘light’ (on bandwidth).But Zerodha platforms have certain glitches like refreshing page multiple times to view orders/holdings, orders not placed/placed multiple times due to server errors, funds not updated on closing (leading to dealyed availability of funds on next day), inability to login.

But ICICI Direct shows professionalism here as the performance of website is ‘glitch free’.
I prefer ICICI Direct as I have lost money on Zerodha due to server issues.
Customer Support - ICICIDirect is clear winner here as it provides u a dedicated advisor who can advise you and carry out your transactions.Most importantly you have a certain point of contact in case you have some issues.

Zerodha fares poorly here as their servers face frequent technical issues. Contacting technical support or customer support (for carrying out transactions) is a headache due to long waiting. Also there is single point of contact for complaint handling,i.e. Email. If your complaint does get resolved here, you wont be directed to some other person/manager. Your complaint will be closed without mentioning the solution provided by Zerodha. Rather, closures will simply mention that based on conversation with customer support executive, your complaint has been resolved.

My experience - I had traded intraday on L&TFinHolding. I sold 1000 shares in morning and wanted to square off the position by purchasing back the shares at lower price in the evening. I was unable to do so. So, I called the technical team but they were also unable to exit the position. My position could not be closed at that day and went to auction market. I lost some 800Rs for this transaction. I repeatedly mailed and contacted customer support team. They accepted that it was a technical issue but did not reply to any of my mails with the solution they provided becathey didnot provide any solution at all. All they did was assure me that such issue wont happen again.


Verdict-

For investment - ICICI Direct (or any other credible broker) as you will be invested with large amount for long term and Zerodha is less reliable.
For intraday trading - If trading for very small profits for eg. upto 500 or 1000, you may Zerodha as amount put at stake is less (in case you lose due to technical issues like myself and many others did).
If trading targetting profits higher than 1k, reliable brokers.

Rajat Batra
avatar
19.1. Sanjeev K  Aug 25, 2016 8:58:06 AM IST
I Personally disagree with Mr Rajat, Max discount brokers are using very high end technologies, all software are same except the look and feel. We are in India and we know we don''t have 100% reliable infrastructure, so issue can come with ICICI also. Zerodha is trying to fix the technical issue in trading terminals and s/w.
Future of % base brokering is over and now ICICI should have to seriously think about moving to flat fee model.
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18. bhatnagar  Aug 8, 2016 2:55:10 PM IST Reply
in case i open only trading account with Zerodha and pay Rs 5000 as margin money,will it be possible for me to trade nify option and nifty future at least one lot.is there any margin calculator for Zerodha
avatar
18.1. Vijay  Aug 9, 2016 8:21:44 AM IST
No, To Buy NIFTY Future 1 Lot which is equal to 75 Shares, Approx total Margin requirement is 66,000. You need approx. Rs 20,000 Exposure margin and Rs 46K as SPAN. As this is MIS order, positions must be squared off on trading day itself or will be square off by 3:20 by broker. Its advisable to have 70,000 in your trading account so in case you need to convert your position.
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17. Prakash R  Jun 28, 2016 8:58:35 PM IST Reply
Zero Brokerage for Delivery is nice to have. I joined Zerodha with this offer which suits my need well.
But I am not understanding the DP charges that''s been charged every time I sell my stocks from my holdings DP. Is this a trick played to bypass the brokerage and collect the similar amount as DP charges. is there any way to get rid of this as I am paying heavily on this.
I buy 100 shares @100 rs, exit 50 @125 and exit the balance 50 @150. I pay DP charges twice which is nearly 40 rs. This increases which I exit my positions slowly on profits. Kindly explain on this. Thanks.
avatar
17.1. Vijay  Jul 2, 2016 9:40:23 PM IST
Hi -
Demat Approx) are going to be charged. If you do this for 1 share or 100 shares, this charges is going to be fix. For multiple transaction as you have done 2 trades for same share, you got charged 2 twice.
avatar
17.2. Vijay  Jul 2, 2016 9:47:24 PM IST
If you have done the transaction for same script on same day, you are going to be charges, one time onlyDP Charge.

For example you have sold 100 Share for XYZ @10 AM and [email protected]:00 PM, in this case you are going to be charge Rs 14 only.

If scripts are different then you are going to be charge as may scripts you have sold.
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16. S Nivas  Mar 28, 2016 6:51:36 AM IST Reply
How much margin Zerodha is providing on Intraday Cash?
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16.1. Vijay  Mar 28, 2016 6:53:30 AM IST
Zerodha is giving upto 12 times exposer, its depend on script you want to trade.
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16.2. Priya  Jun 7, 2016 4:22:35 PM IST
the indian stock brokers site article says the exposure is only 10 times. But you say 12, which is correct?
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16.3. vijay  Jun 7, 2016 9:36:27 PM IST
Margin on Intraday square off is depend on marker condition and varies script by script, in some script you will get 3x margin and in some you will get 9x,10x, and so on. This is just a range between 3x to12x.
For more detail you need to see specific script which you want to trade.
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15. Naveen  May 26, 2016 7:40:03 PM IST Reply
Is Zerodha suitable for first time traders?
I am first time trader so is it suitable to go with discount brokerage firms or with full brokerage firms. Please suggest.
avatar
15.1. Vijay  May 27, 2016 3:32:52 PM IST
Yes Naveen, Discount brokers are the best fit for first time investors.
1: Low brokerage
2: No Minimum Brokerage
3: You can do small trades like buy 10 and sell 10 shares and so on.
avatar
15.2. Santosh  Jun 7, 2016 4:16:20 PM IST
I think you can also invest in mutual funds.
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15.3. Vijay  Jun 7, 2016 9:22:36 PM IST
Yes you can invest in Mutual Funds with Zerodha - Please read detail article http://www.topsharebrokers.com/article/mutual_fund_investment_with_zerodha/26/
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14. sajan  May 13, 2016 11:43:53 PM IST Reply
Zerodha is having lost of issue with there connectivity...Thats not good for investors.
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14.1. Kunal  May 13, 2016 11:47:21 PM IST
I am also having a lot of problems with them and I wanna switch to a new discount broker. Could you please tell me which broker you are using at the moment ? Would really appreciate your advice and suggestions.

Thanks and awaiting your response..
avatar
14.2. Sajan P  May 13, 2016 11:48:34 PM IST
I suggest go ahead with small brokers who are using traditional tools like NSE NOW, ODIN.

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ProStocks, The Flat Rate Discount Stock Broker

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Rs 899/Month,8999/Year for
Equity Cash and F&O

Rs 499/Month,4999/Year for
Currency Derivatives

Lowest Transaction Charge
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Lowest Stamp Duty

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Zerodha  Zerodha

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Flat Rs 20 Per Trade for F&O

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Beginner, seasoned investor, active trader or HNI. Get customised solutions.

Rs 0 account opening fee on Online Trading and a Demat Account
(Rs 1150 waived)

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Free Equity Delivery Trades
Flat 20% discount on online transaction

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