Zerodha Review 2019

Rated 4.5/5 by Top Share Brokers Team
Zerodha Review

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Zerodha with a unique name and meaning,Zero + rodha ( Barrier in English) is emerging as a single largest Discount Broker in India. The reason Zerodha becoming the most popular broker is "the best online trading platform in India", "low brokerage and high exposure", "free direct mutual fund investment platform" and "efficient customer support."

In just a short span of time (9 yrs) Zerodha top the list to become the number one share broker in India in terms of active clients. Zerodha offerings and support is growing day by day and the best in class. Zerodha offers trading in equity, equity F&O, commodity, and currency on NSE, BSE, MCX and MCX-SX and investment in Direct Mutual Funds through SIP, Government securities, and bonds. Zerodha offers free trading in equity delivery and charges a low brokerage of Rs 20 or .01% whichever is lower for trading in equity F&O, currency and commodity. Zerodha offers demat services by being a DP of CDSL. Zerodha also offers NRI trading facility at Rs 200 or .1% per order whichever are lower for equity delivery and Rs 100 per order for equity F&O.

Unlike other discount brokers, Zerodha has 22 branch offices, 94 partner offices, and 6 support + call & trade offices other than a head office in Bangalore. Zerodha is the first broker in India to provide Direct Mutual Fund investment facility to its customers for free. It is provided by their online platform called "COIN" (") where you invest in direct mutual fund schemes that give you better returns compared to regular mutual fund schemes as there is no commission going to the brokerage house from your investment. Investment options for IPO, FPO and OFS (Offer for sale) is not available online with Zerodha which is pretty much standard with all the discount share brokers.

Zerodha offer customer support in all possible ways and efficiently. The support channels offered by Zerodha other than call and trade and email are as follow:

  • Console - It is a back office portal of Zerodha for viewing your portfolio, holdings, P&L and contract notes. It is a central reporting and trading dashboard of Zerodha to place withdrawal request and view account statements. It can be access directly from Kite. Available at “”.

  • Zerodha support portal - Users can create a direct ticket on Zerodha Support Portal. There is a FAQ bank on most of the topics and to further ask a question you need to select a relevant topic or faq. Available at “”.

  • Zerodha Varsity - Free, online, interactive education module on investing and trading by experts. Available at "". Now Varsity is also available in mobile app with relevant exams.

  • z-connect - Blog for announcing all the updates by Zerodha. Available at "".

  • TradingQ&A - Active trading forum to discuss any and all topics related to trading, stock market, Zerodha products and platforms supported through participation by users of Zerodha. Available at

  • Youtube channel - Video channel on you tube to view all the videos related to Zerodha. Available at "

Zerodha account opening process is instant, online and linked with Aadhar card. Zerodha now offers 3-in-1 account in tie-up with IDFC First bank in the form of Zerodha-IDFC FIRST Bank 3-in-1 account which is a single account inclusive of trading, DEMAT and bank account for seamless and hassle-free online banking and investing experience. Zerodha now becomes the trading and self-clearing member to give clients the benefit of no clearing charges. Zerodha offers cover order and bracket order (CO/BO) with trailing stop loss feature for equity and F&O.

Zerodha Reward programs like 60-day challenge, refer a friend and Get an Affiliate link gives you an opportunity to get some rewards. Zerodha offers most advanced and in-house trading platforms across desktop, web and mobile app. Kite 3.0 is their in-house, state-of-art web-based trading platform also available in mobile app. PI is the advance feature-rich software-based trading platform of Zerodha. They also offer third-party plug-in tools like Smallcase, Sensibull, Streak, StockReports+ for that extra support. These are the paid services though.

Review Summary

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.


  • Rs 0 equity investments(Free Trading). Flat Rs 20 Intraday and F&O trades.
  • No minimum balance required for account opening.
  • Direct Mutual Fund Investment for free with Zerodha Coin. >>Detail
  • 3-in-1 Account offered in tie-up with IDFC First Bank. >>Detail
  • Free fund transfer using UPI (Unified Payments Interface).
  • Instant account Opening linked with AADHAAR. For trading only account, no paperwork, for demat and nominee declaration you need to sign POA forms and submit via courier. Step by step guide.
  • Margin against shares (MAS) over approved securities and ETFs available for trading in equity and currency F&O segment.
  • Innovative and unique trading tools – SPAN Calculator, algoZ, Option Strategy, Market Monitor, etc.
  • First discount broker providing NRI services. >>Detail
  • Sensibull Options Strategy platform by Zerodha. >>Detail
  • StockReports+ - Research Report from Thomson Reuters available with Zerodha on paid basis.
  • Invest in Government Securities, Bonds and T-bills through Zerodha Coin. >>Detail
  • Zerodha being self-clearing member so no clearing charges applied.
  • 1+ million clients. 10% of daily retail trading volumes across NSE, BSE, MCX. Number #1 broker in India in terms of active clients.
  • Zerodha PI , the most advanced trading platform introduced by Zerodha. >>Detail
  • Zerodha KITE 3.0, is a lightweight, low bandwidth, multi-language web based trading platform. >>Detail


  • Call and trade is not free.
  • Doesn't provide facility to online invest in IPO via Zerodha Kite.
  • Margin against shares facility is not available for equity cash segment.
  • Zerodha as of now is not offering Margin Trading Funding. This is a big limitation for traders where they need to borrow some money from broker on interest for short span of time.

Special Offer

Free delivery Trading - Zero Brokerage, Direct Mutual Fund Investment on Zero Cost. Open Account online. 3-in-1 Account with IDFC Bank. Sign up now

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Zerodha Investment Options Compare

Here we are comparing Zerodha with its 5 close competitors on investment options.

Broker Zerodha Sharekhan 5paisa Upstox SAMCO
Equity Trading Type Yes Yes Yes Yes Yes
Currency Trading Yes Yes Yes Yes Yes
Commodity Trading Yes Yes Yes Yes Yes
Mutual Funds Yes Yes Yes Yes No
MF SIP Yes Yes Yes No No
ETF Investment Yes Yes Yes Yes Yes
Banking No No No No No
Insurance No Yes Yes No No

Zerodha Brokerage Plan, Fees and Charges

Brokerage and Commission Rated 4.5/5

Zerodha Account Opening Charges

      »»  Trading Account Opening Charges: Rs 200
      »»  Trading Account AMC: Free
      »»  Demat Account Opening Charges: Rs 100
      »»  Demat Account AMC: Rs 300 PA

Zerodha Brokerage

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 @₹0 brokerage. For Equity Intraday, F&O, Currency, and Commodity trading ₹20 or 0.01% whichever is lower, so you pay max ₹20 per trade. Zerodha’s ₹20 Plan is equal to Upstox (₹20), Fyers (₹20), SAMCO (₹20) while slightly more expensive than 5paisa (₹10), TradeSmart (₹15) and SASOnline (₹9).


    • No limit on the volume of trade.
    • BTST orders come under-delivery trade, so no need to pay any brokerage.
    • No minimum brokerage charges.
    • Pay as you go brokerage model. No prepaid monthly plans.
    • GTC order are offered in form of GTT (Good till Trigger).


    • Competitors are offering lower brokerage plan with high
    • Doesn't have monthly plans.
    • Equity SIP is not available, which is market demand. With such low brokerage or zero delivery brokerage, customer can enjoy their regular investment through Equity SIP.

    Other Charges

    • Call and Trade feature is available at an extra cost of ₹20 per call.
    • Digital Contract notes are sent via Email. Physical copies of contract notes can be ordered at an additional charge of ₹20 per contract + courier charges.
    • Instant payment gateway charges for over 30+ banks @ ₹9 per fund transfer + GST.
    • ₹20 per executed order for Intraday positions using MIS /CO/ BO squared off by RMS team.
    • DP charges for delivery based equity selling at ₹8 + ₹5.5 = ₹13.50 per transaction.
    • ₹20 + GST charged for buyback, takeover, delisting orders placed through Console. ₹100 + GST if the orders placed manually.
    • ₹20 plus GST charges per order for OFS, NFO, and FFO orders.

Zerodha Account types

Lets discuss in details about the type of account offered by Zerodha.

  • 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 ₹300.

  • 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 ₹100 and AMC is ₹300.

  • 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 ₹300.

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

Zerodha with closest competitors

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

Broker Zerodha Sharekhan 5paisa Upstox SAMCO
Service Type Discount Broker Full Service Broker Discount Broker Discount Broker Discount Broker
Brokerage Range Rs 20 0.1 to 0.5% Rs 10 Rs 20 Rs 20
Account Type 2 in 1 2 in 1 2 in 1 2 in 1 2 in 1
Equity Delivery Free 0.5% or 50 paisa Flat Fee Rs 10 Free 0.2% or Rs 20 whichever is lower
Equity Intraday 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 10 0.01% or Rs 20 whichever is lower 0.02% or Rs 20 whichever is lower
Equity Futures 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 10 Flat Fee Rs 20 0.02% or Rs 20 whichever is lower
Equity Options Flat Fee Rs 20 2.5% of Premium or Rs 250 per lot whichever is high Flat Fee Rs 10 Flat Fee Rs 20 Flat Fee Rs 20
Commodity Flat Fee Rs 20 0.1% or 10 paisa Flat Fee Rs 10 Flat Fee Rs 20 Flat Fee Rs 20
Currency Futures 0.01% or Rs 20 whichever is lower 0.1% or 10 paisa Flat Fee Rs 10 Flat Fee Rs 20 0.02% or Rs 20 whichever is lower
Currency Options Flat Fee Rs 20 2.5% of Premium or Rs 30 per lot whichever is high Flat Fee Rs 10 Flat Fee Rs 20 Flat Fee Rs 20

Please refer unique and accurate Zerodha Brokerage Calculator

Zerodha Margin Details

Zerodha offer leverage/margin through 3 different product types MIS, BO & CO.

    Leverage for Equity for Order Type

    • CNC : No leverage
    • MIS for equity Intraday: 3 - 12.5 times leverage
    • BO and CO for Equity Intraday: 5 - 33 times leverage 

    Margin required for NRML orders for F&O

    NRML orders for equity F&O: Exchange stipulated margin

    Margin required for MIS orders in F&O

    • For Intraday : Up to 12.5x
    • For Index futures & option writing: 2x or 50% of the NRML margin.
    • For Stock futures & option writing: 2x or 50% of the NRML margin.
    • For Commodities & Currencies futures & option writing: 2x or  50% of NRML margin. 

    Margin required for CO/BO orders in F&O

    • For intraday: Up to 20.8x.
    • For Index futures & option writing: Up to 33x of the contract value.
    • For equity Stock futures & option writing: Up to 20x  of the contract value.  


    • BO & CO aren’t allowed in Stock Options, Bank Nifty Options, Currency options, Commodity options & BSE stocks.
    • MIS isn’t allowed in currency options
    • BO isn’t allowed in MCX

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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Alternatives to Zerodha


Zerodha Trading Platform and Tools

Trading Platforms Rated 4.5/5

    Zerodha has the most advanced, sleek and intuitive trading platforms for all types of customers. They have desktop-based trading software, web-based trading terminal and Mobile app for Android and iOS smart phones.

    • Zerodha PI (Desktop Trading Platform)

      This is the advanced desktop trading software by Zerodha to minimize all the barriers in smooth trading. This is a downloadable version of trading software and needs admin access to setup on your windows machine. Zerodha PI has all the features one need in a trading platform. It is available for free.

      Further Reading: Detail Review of Zerodha PI

    • Zerodha KITE Mobile App and Web Trading Platform

      KITE 3.0 is a lightweight, low bandwidth, multi-language, Integrated, easy to use, Informational and committed web base and mobile app from Zerodha. Kite is an in-house developed product from Zerodha and has the most tech-focused mobile offering. We rated Kite as “the Best Trading App”.

      Further Reading:Detail Review of Zerodha kite 3.0


      • Kite mobile app for android and IOS users serves both casual investors as well as the feature-hungry active traders.
      • The combination of effective design and advanced trader functionality makes Kite as the best-used app.
      • Integrated fund transfer with 30+ banks.
      • Advance charts with 100+ indicators, 6 different chart types, 19 drawing tools, Open Interest (OI).
      • Browser Notification and Mobile Alerts.
      • Advance Order type – Cover Order, Bracket Order, AMO and Stop Loss Orders.
      • 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.


      • VTC (Valid Till Cancelled) and GTD (Good Till Date) orders are missing. In such a case, you need to log in every day and place your orders which you want to execute on some specific price value.
      • The broker should send reminders for special events of your holdings like buyback, OFS, dividend, merger and so on. It can be shown on your watch list, email or through notification.
    • Zerodha Coin Mutual Fund Investment - web-based and mobile app is the web-based online mutual fund investment platform by Zerodha. It is a commission-free platform to invest in Direct Mutual Funds. Zerodha has launched a new Mobile App too for mutual fund investments called Coin Mobile. This app has full features to buy, sell funds of your choice. You can create SIP, update or hold your SIP on the go. It has direct mutual fund investment option from 31 AMC for 3000+ funds.

      Limitation of Coin - You must have to transfer fund in your Mutual Fund account well in advance. So in case you have SIP plans, you must have to make sure fund is available in your Zerodha mutual fund account. You can do payment gateway transfer or set a recurring payment via your bank (NEFT/RTGS) to your Zerodha Mutual Fund account. Zerodha application doesn’t go directly to your bank account and withdraw the amount for your SIP. Where if you have ICICI Bank or HDFC Bank Mutual Fund SIP, they directly go to your bank account and withdraw the fund. This is a small limitation and can be handled by setting up a recurring payment option with your net banking.

    • Further Reading: Direct Mutual Fund Investment by Zerodha

    • Sentinel

      It is a price alert tool from Zerodha to set alerts for 80,000+ stocks, bonds, commodities, F&O contracts, and currencies across exchanges on OHLC, bids, and offers, and more, in addition to the price. Advance alerts can also be created that combine multiple triggers using simple, easy-to-use operators. The alerts are sent on email and Kite web.

    Partner Products of Zerodha

    These are the products designed by third parties and has a tie-up with Zerodha to give access to their products and platforms to the users of Zerodha. These are paid services and can be integrated with Zerodha Kite platform.

    • Smallcase

      Powered by Kite Connect APIs, smallcase is the thematic investment platform by Zerodha to let users invest in intelligently weighted baskets of stocks with a single click. A smallcase has a minimum of 2 and maximum of 50 securities. The securities are chosen based on ideas, themes or strategies in a specified weightage scheme. SIP facility is also available for smallcase thematic investment.

    • Streak

      Streak is the web-based cloud server Algo-trading platform by Zerodha to create, backtest and deploy trading algorithms live in the market without coding. One can track the market real-time, get actionable alerts and manage positions on the go.

    • Sensibull

      Sensibull is the options trading platform, to choose from the suggested strategies or create your own custom strategies to trade your view. It also shows the comparison between various strategies to choose the best fit for you, visualize your trade’s profit and loss under various scenarios and allows to place orders using Zerodha Kite platform.

    • StockReports+

      It is a comprehensive research and analysis report by Thomson Reuters on stocks, market, and industry. It covers stock analysis and rating on 3000+ Indian stocks, Industry rankings and ratings, industry and sectoral analysis and in-depth insights of over 1500 Indian companies.

    For detail review of mobile app and download please visit Zerodha Trading Platform Review.

Zerodha Trading Platform Compare

Here we are comparing Zerodha with its 5 close competitors on Trading Platform.

Broker Zerodha Sharekhan 5paisa Upstox SAMCO
Desktop Windows Yes Yes Yes Yes Yes
Desktop Mac No No No No No
Web Trading Yes Yes Yes Yes Yes
Android Tablet App Yes Yes Yes Yes Yes
Android Mobile App Yes Yes Yes Yes Yes
iPhone App (iOS Mobile App) Yes Yes Yes Yes No
iPad App Yes Yes Yes Yes No
Mobile Site Yes Yes Yes Yes Yes

Final thought about Zerodha

Zerodha is a well-respected share broker with a great offering. Zerodha has 1 million [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 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 moving from 3rd party clearing member to self-clearing member under Zerodha Broking Ltd, with that no professional clearing Member(PCM) charges will be charged on futures and options premium. Exchange 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.

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

Jan 2019: Zerodha started offering a 3-in-1 account with IDFC First Bank.

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

16th Oct 2018: Investment option open to investing in Government Securities (Bonds and T-bills) by retail Investors through Zerodha Coin.

19th Sep 2018: To open a Commodity account, you need to open a 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 announces its 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: 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: ELSS (Tax Saving Direct Mutual Funds) are free to invest. Zerodha was charging 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.

24th July 2018: 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.

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Zerodha User Reviews

115. SANJIT KUMAR Aug 9, 2019 8:44:03 PM IST Reply
in margin calculator is not show hedging benefit of margin requirement.
114. Mukesh Jul 26, 2019 5:41:44 PM IST Reply
Zerodha online stock brokers contact number no
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

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