Zerodha Brokerage and Demat Account Review - Best Discount Broker in India 2019

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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.

Zerodha Brokerage and Demat Account Review - 2019

Zerodha with a unique name and meaning, no Barrier Zero + rodha ( Barrier in English) is emerging as a single largest Discount Broker in India. Zerodha is the largest discount broker and "3 largest stock brokerage in India" after ICICI Direct and HDFC Securities.The reaoson Zerodha is getting most popular because of "best online trading platform in india", "low brokerage and high exposure", "100% online broker" and "lowest brokerage charges".

When it comes 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 the 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.

Zerodha Support started with contextual ticket creation and intelligent search for the user, with this for general topic user don’t need to send queries to support team. Zerodha have reach library of support document (600+) which can resolve lots of issue in first place. Next level solution for investors who want to know more about their transaction or order details, now Zerodha secure search for such user reached to account level, for that particular transaction, he can create a support ticket. With this new addition to zerodha support family, the user doesn’t have to send email to [email protected], users can create a direct ticket on Zerodha Support Portal.

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 which makes Zerodha "lowest brokerage fees in India". As Zerodha is not a 3 in 1 brokerage, there is initial work to set up the bank account but any online bank can be linked to Zerodha.

For Demat, Earlier Zerodha was having a tie-up with ILFS but now they have their own DP Service. Transfer between trading account and the Demat account is seamless if you open a Demat account with zerodha. With them, you can trade on Equity, F&O, Commodity, and currency on NSE, BSE, MCX and MCX-SX and invest in Direct Mutual Funds and SIP Investment . Unlike other discount Brokers, Zerodha has branches in 40+ cities of India other than headoffice in Banglore.

Now investing in Mutual Funds is also possible with Zerodha. They recently facilitate traders to invest in Mutual Funds with Zerodha Coin. When you invest in Mutual Funds with Zerodha, you invest in Direct Mutual Fund - For FREE, which gives you better return compare to regular mutual funds investment. Zerodha is the first broker in India who is providing Direct Mutual Fund investment facility to its customer. 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 get some rewards.

Zerodha NRI Account

NRI can trade with Zerodha @Rs 200 per trade or .1% whichever is lower. NRI holding NRO account can open Trading and Demat account just like resident Indians. NRI can trade in Equity Delivery, Derivatives (F&O), Currency futures/exchange-traded options market, Investment in Mutual Funds and IPO (Via ASBA channel).To Open account, NRI (NRO Account holders, PIO or OCI card holders) need - Copy of Passport, Visa Document (NRI Only), PAN card, Address Proof Overseas, Address Proof India (NRI Only) and Photograph.

Why to choose Zerodha as your stock broker?

  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 advanced trading platform introduced by Zerodha.
  4. Open your account instantly with AADHAAR, for trading only account no paperwork, for demat and nominee declaration you need to sign few forms and submit via courier.
  5. Zerodha KITE 3.0, is a lightweight, low bandwidth, multi-language web based trading platform.
  6. Supports desktop base, web based and mobile based trading platform.
  7. Free fund transfer using UPI (Unified Payments Interface)
  8. Innovative and unique trading tools – SPAN Calculator, algoZ, Option Strategy, Market Monitor, etc.
  9. Zerodha F&O Margin Calculator.
  10. No upfront fee, no minimum brokerage and no minimum contract charges.
  11. Zerodha Coin- Direct Mutual Fund Investment - Free
  12. NRI Trading - First Discount broker providing NRI services.
  13. Open account online and paperless - Step by step guide.
  14. Zerodha Margin Calculator
  15. Sensibull Options Strategy By Zerodha
  16. StockReportsPlus - Research Report from Thomson Reuters available with Zerodha - Paid Service.
  17. Invest in Government Securities-Bonds and T-bills with Zerodha Coin
  18. Zerodha offers 3-in-1 Account with IDFC Bank >>Detail
Special Offer:

Free delivery Trading - Zero Brokerage, Direct Mutual Fund Investment on Zero Cost

Sign up now .

  • Strong customer support.
  • User-friendly Brokerage and margin calculators.
  • Free,online,open to all education module covering all the topics related to trading called Varsity.
  • Active trading forum called trading q&a.
  • Online account opening linked with your AAdhar card.


  • Doesn't have monthly plans.
  • Call and trade is not free.
  • Doesn't provide facility to online invest in IPO via Zerodha Kite.
Exclusive OfferExclusive Offer

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What are the Investments Options available with Zerodha?

Zerodha - Equity Cash and F&O
Zerodha - Currency F&O
Zerodha - Commodity Trading
Zerodha - Mutual Funds
Zerodha - ETF
Zerodha - Online IPO
Zerodha - Bonds Investment
Zerodha - Debt Investment
Zerodha - Banking Service
Zerodha - Insurance Service
Zerodha - MF SIP Investment

How is Zerodha with closest competitors?

Here we are comparing Zerodha with its 5 close competitors, who are currently market leader in brokerage industry.

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

Please refer unique and accurate Zerodha Brokerage Calculator

Zerodha Brokerage Plans Review - 2019

Brokerage and Commission Rated 4.5/5

    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).

    Zerodha 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)
    • 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)
    • Commodity Trading Brokerage: 0.01% or Rs 20 per executed order (whichever is lower)

    Zerodha Account 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

    Zerodha 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 an additional charge of Rs 20/- per contract + Courier charges.
    • Instant payment gateway charges for over 22 banks - Rs 9 per fund transfer.
    • Free UPI transactions with Zerodha.
    • 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, GST 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 an online trading account to trade in stocks, derivatives, indices and currencies on NSE and BSE. Trading can be done through the 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 Brokerage Charges - Max Rs 20 Per Order Plan

Brokerage Plan Max Rs 20 Per Order Plan
Flat Fee NA
Equity Delivery Free
Equity Intraday 0.01% or Rs 20 whichever is lower
Equity Futures 0.01% or Rs 20 whichever is lower
Equity Options Flat Fee Rs 20
Currency Futures 0.01% or Rs 20 whichever is lower
Currency Options Flat Fee Rs 20
Commodity Flat Fee Rs 20

For complete brokerage charges and trading plans detail please visit Zerodha Brokerage Charges.

What are the various Product and Services offered by Zerodha?

Product & Services Rated 4/5
Zerodha - 3 in 1 Account
Zerodha - Multiple Plans
Zerodha - Monthly Plan
Zerodha - Yearly Plan
Zerodha - Portfolio
Zerodha - Charting
Zerodha - Automated Trading
Zerodha - AMO Order
Zerodha - Allow GTC Order
Zerodha - SMS Alerts
Zerodha - Margin Trade Funding
Combined Ledger for Equity and Commodity
Zerodha - NRI Trading

How much margin does Zerodha offers?

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 2 times or 50% of NRML margin for futures trades.
  3. Zerodha margin for Options - Zerodha offers 2 times or 50% 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/BO orders

  1. Zerodha exposure for intraday trading - Zerodha offers up to 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(Cash & Carry) orders.
  2. Zerodha margin for the F&O overnight position - as per exchange stipulated margins

Zerodha Margin Calculator

Best Margin calculator available for free to calculate you margin upfront. This tool allow you to calculate comprehensive margin requirements for option writing/shorting or for multi-leg F&O strategies while trading equity, F&O, commodity and currency before doing a trade. This tool is available for both registered user and non registered users.

To calculate your margin up front please refer our dynamic margin calculator - Zerodha Margin Calculator

Changes from 1st July 2018 onwards:

Due to margin policy changes by SEBI – For overnight position, one needs to keep maintain SPAN + Exposure both margin in his account.

This will impact on Intraday margin also – As previously broker need to keep only SPAN margin, now broker need to block SPAN + exposure margin for the intraday position, in such case Zerodha has changed its intraday margin policy –

For MIS trading – Its was 40% of SPAN + Exposure, now changes to 50%.

For BO/CO Orders – Margin requirements depended on Stop Loss amount and was min 1% fro index derivatives now changed to 1.25%. For equity/stocks derivatives it was 2% now its 2.25%.

Intraday Margin for commodities and currency will remain the same. As there was no exposure for commodities so no changes in commodities.

These changes are across the board and not only with Zerodha, All brokers need to shift their margin policy.

How to Open Trading and Demat Account with Zerodha?

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

Contact Zerodha


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What are the Customer Support options availabel with Zerodha?

Customer Support Rated 4.5/5
Zerodha - Phone Support
Zerodha - Toll Free Number
Zerodha - Email Support
Zerodha - Branch Offices
Zerodha - Live Chat
Zerodha - 24/7 Support

What are the trading platform offered by Zerodha?

Trading Platforms Rated 4.5/5

    Zerodha has the trading option for all type of customer, they have desktop based trading software for active traders, web-based trading terminal and Mobile app (Andriod and iOS version).

    • Zerodha Desktop Trading 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

    • Zerodha Web trading platform "KITE 3.0"

      KITE 3.0 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 3.0 review. Zerodha Kite3.0 Beta testing complete and product is going live for all Zerodha investors on March 26,2018.

    • Kite Zerodha Mobile Trading App

      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.

      Downlaod Android version of Kite Mobile App

    • Coin Mobile App

      For Mutual Fund Investor, Zerodha has launched a new Mobile App called “Coin”. This app has complete feature to buy, sell funds of your choice. You can create SIP, Update or pause your SIP on the go. Direct Mutual Fund investment option from 31 AMC and around 3000+ Funds.

      Downlaod Android version of Coin Mobile App

      Direct Mutual Fund Investment by Zerodha - Read our detail article about advantage of direct mutual fund investment vs regular mutual funds. Zerodha has stopped charging monthly fee for Direct Mutual Fund Investment and giving MF investment service for FREE.

    • Zerodha Call n Trade

      CnT service has a cost of Rs 20 per Trade.

    • Automatic Trading with AmiBroker.

      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

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

    Other than normal trading hours, Zerodha supports Pre-market orders, post-market orders and After Market orders (AMO). Zerodha provides an option to place Cover Orders and 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 Trading Platform Review.

What are the Trading Platforms & Tools Options available with Zerodha?

Zerodha - Desktop Platform (Windows)
Zerodha - Desktop Platform (Mac)
Zerodha - Web Platform
Zerodha - Stock Alerts via Email
Zerodha - Stock Alerts via SMS
Zerodha - Virtual Trading
Zerodha - Watch-lists, streaming real-time quotes
Zerodha - Mobile App
Zerodha - Android Tablet App
Zerodha - Android App
Zerodha - iPhone App
Zerodha - iPad App
Zerodha - Mobile Trading Site

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

Final thought about Zerodha

Zerodha is a well-respected share broker with a great offering. Zerodha has approx over 9+ Lakhs [Mar 2019] 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. First time in India a brokerage house started Direct Mutual Funds investment.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.

Latest Updates from Zerodha:

22nd Mar 2019: Zerodha Clearning Charges Update - Zerodha is shifting from 3rd party clearing member to self-clearing member under Zerodha Broking Ltd, with that no professional clearing Member(PCM) charges will be charged for futures and options premium. Exchane transaction charges for Futures will be Rs 190 per Cr and Option premium is Rs 5000 per cr, which was rs 210 per cr and 5200 per cr previously.

23th Feb 2019: Zerodha Kite- Now Second level authentication is with 6 digit pin.Previously it was with a personal question based, now it will be more faster to login on Kite.

Jan 2019 – Zerodha started offering 3-in-1 account with IDFC Bank.

Jan 2019 – Zerodha broke the barrier and become number one share broker in India in terms of Active Clients. Zerodha started its operation in Aug 2010, and become number one broker in India in just 8 years.

16th Oct 2018: Zerodha Coin - Online module included for retail investors to Invest in Government Securities(Bonds and T-bills).

19th Sep 2018: Zerodha Commodity Account – To open a Commodity account, you need to open trading + commodity account. Now you can’t open only Commodity Account. This is to make all internal system work more effectively and give you a single view of your portfolio.

12th Sep 2018: Zerodha announce their collaboration with Thomson Reuters for advance research reports named StockReports+. Even though this service is paid service, but the price tie-up between Zerodha and Thomson Return is a really amazing deal for Indian Investor. Available in 3 easy plan Rs 150 PM, Rs 850 - 6 Months and Rs 1440 Yearly plan.

24th Aug 2018 :  Coin Update -  Now investment in Direct Mutual Fund with Zerodha is completely FREE. Previously Zerodha was charging Rs 50 PM for investment above Rs 25,000. Now they make this completely free for Zerodha Clients.

28th July 2018 :  Coin Update -  ELSS (Tax Saving Direct Mutual Funds) are free to invest, Zerodha charge Rs 50 PM if your MF investment is more than 25,000 Rs. With new changes, you can invest in ELSS for free even though your investment goes above 25,000 Rs.

Profit and loss statement for mutual funds can be downloaded on the coin for FY 2017-18.

24th July 2018 - Demat Account Linking – 3rd Party Demat accounts linking with Zerodha Trading account are not accepted. This is because of the accountability point of view. With this, Zerodha will accept only Zerodha Demat account. If you have any demat account with any other service provider, you need to move to Zerodha demat service.

If you like what you have read and want to open an trading and demat account with Zerodha, leave your contact information with us and we will guide you.

Compare Zerodha

Find out how Zerodha stacks up against other brokers

Zerodha User Reviews

113. dharmendra  May 9, 2019 3:21:45 PM IST Reply
The account is still to open, they need pin code on address proof, this is old address proof given by government, not sure they have weird policies, when asked for refund they refused. this is like worst. please check before opening account. the customer care service is not friendly


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
112. Nataraja Upadhya  Apr 30, 2019 7:24:49 PM IST Reply
Zerodha has utter disregard in protecting customer interests. Here is an example.

Though the trader has margin money, it sets the order type as MIS just because the previous order happens to be so. Such orders are accepted without warning or reconfirmation. Without alerting the gullible trader, such orders are simply squared off in the market at market at 3.20. The F&O orders with MIS type going in as default causes havoc and heavy losses to the customer.
When I brought this loss and stupidity of the ordering system to Zerodha system, the answer was quite insensitive, saying the system is designed so, and the customer should be aware of avoiding such death traps.


Brokerage - Average
Account Maintenance Fees - Below Average
Website Usability - Below Average
Customer Service - Very Poor
Overall Experience - Very Poor
111. Vijendra Yadav  Apr 5, 2019 4:55:45 PM IST Reply
Vijendra Yadav from Jorhat Assam. I want to open Demat Account in your firm. Half of the process has been done but rest couldn''t be able to complete. So please provide help me by your company person ASAP. Because payment has been done but not successfully.
111.1. Sachin D  Apr 27, 2019 12:59:26 PM IST
Please contact Zerodha Support team for this issue. As this is an account opening related issue no one is this forum can help you offline.
110. K C MODI  Apr 26, 2019 10:43:03 PM IST Reply
110.1. Zerodha Partner  Apr 27, 2019 12:57:39 PM IST
Thanks for your comment, please create a service ticket on Zerodha for this. Meanwhile, we will pass the same to Zerodha Technical Team. Thanks for your note and sorry for the inconvenience.
109. Shameem Banu  Feb 22, 2019 2:44:36 PM IST Reply
If I want to buy 6000 shares in one shot then how much money should be in my dmat account ?
109.1. Sreeni Reddy  Apr 5, 2019 7:25:02 AM IST
Depends on share price.
If you want to take delivery of the stock you need to maintain the entire amount. if you want to go for only intraday trading in a group stocks you need to maintain only 10% of the margin zerodha provides 10 times intraday margin
108. sridhar  Mar 20, 2019 11:19:10 AM IST Reply
stupid system not reliable. When you loose your money will change but loosing your money is certain.s
high chance for loosing huge money for one reason that you cannot close the trade.
And cannot catch the obvious big moves since the system will go down and will not allow you to trade.
I suspect they are making counter trades on their customers and making profit.
Which means you win they loose. If you are going to win big they are going to loose big.
they will never allow themselves to loose big and yes their system will crash and they will allow you to get in only when they closed their positions safely.


Brokerage - Very Poor
Account Maintenance Fees - Average
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
107. Arvind Vadagave  Mar 19, 2019 12:12:41 PM IST Reply
If I decide to go with trading only account, what steps need to be followed to integrate this with ICICIDirect with whom I do hold demat and trading account
107.1. Vijay Jain  Mar 19, 2019 2:12:19 PM IST
Sir, Zerodha is not allowing to use any other demat account. If you wish to delivery trade with Zerodha you need to open both Trading and demat account. If you wish to do only intraday trades then you can open an only trading account.
106. ambitious  Mar 7, 2019 10:20:57 PM IST Reply
I have lost my money due to their technical fault and therefore I do not recomment this to anyone.


Brokerage - Very Poor
Account Maintenance Fees - Very Poor
Website Usability - Very Poor
Customer Service - Very Poor
Overall Experience - Very Poor
105. ramesh  Jan 2, 2019 5:01:28 PM IST Reply
Option Trading is very worst,always hangs and mess up.
Thursday is bank nifty expiry trading is very pathetic


Brokerage - Above Average
Account Maintenance Fees - Average
Website Usability - Below Average
Customer Service - Average
Overall Experience - Below Average
104. ramesh  Jan 2, 2019 4:59:12 PM IST Reply

For Option traders it is real hell.
They dont allow you to trade above 150 points.
Which is really pathetic.


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