Zerodha Review 2023 | Account Opening & Brokerage Charges

Zerodha is one of the largest and most popular discount broker in India. It was founded in 2010 and is headquartered in Bangalore.

Zerodha offers a wide range of products and services, including equity trading, commodity trading, currency trading, and mutual fund investments. The company’s mission is to make the markets accessible to everyone, and it does this by providing low-cost trading solutions, advanced trading platforms, and robust research and analysis tools.

Zerodha has a large customer base and is well-known for its low brokerage fees and good customer support. It is a member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) and is regulated by the Securities and Exchange Board of India (SEBI).

The company also has its own trading platform called Zerodha Kite, which is available as web and mobile app and offers real-time market data, advanced charting tools, and easy order placement.

Why open Zerodha Trading Account?

There are several reasons why one might choose to open a Zerodha trading account:

• Low brokerage fees: Zerodha is known for its low brokerage fees, which makes it a cost-effective option for traders and investors.
• Wide range of products and services: Zerodha offers a wide range of products and services, including equity trading, commodity trading, currency trading, and mutual fund investments.
• Advanced trading platforms: Zerodha offers a variety of trading platforms, including the Zerodha Kite web platform, Zerodha Kite mobile app, and Zerodha Trader desktop platform, which are suitable for both novice and advanced traders.
• Robust research and analysis tools: Zerodha provides a range of research and analysis tools, such as technical indicators, charting tools, and market data, which can help traders make informed decisions.
• Easy account opening process: Zerodha has a simple and fast account opening process which can be completed online.
• Decent customer support: Zerodha has a dedicated customer support team that is available to help with any queries or issues that may arise.
• Zerodha Coin: Zerodha Coin is a new product launched by Zerodha for buying and selling mutual funds. It is a flat fee based Demat account, specifically for holding and trading in mutual funds. It does not have any brokerage charges for buying or selling mutual funds and also has no account opening charges.

Zerodha Demat Account Opening Charges

Zerodha charges Rs. 200 for Equity and Rs. 300 for Equity and Commodity for opening a trading and demat account. The process of opening an account is online and simple, you need to fill in the details on the website, upload the necessary documents and then the account will be activated after the verification process. The process usually takes around 2-3 business days. However, you will be required to maintain a minimum balance in your account to keep it active. Zerodha may also charge nominal fees for services such as account closure, annual maintenance, and other miscellaneous charges. It is recommended to check the fees and charges section on Zerodha’s website for the most up-to-date information.

Zerodha Brokerage Charges

Zerodha charges a flat brokerage fee of ₹20 per trade for equity delivery and a flat fee of ₹20 per executed order for intraday and F&O trades, regardless of the trade value. This makes it an attractive option for traders who make a high volume of trades.

For equity intraday trades, Zerodha charges a flat brokerage fee of ₹20 or 0.03% of the trade value, whichever is lower. For equity delivery trades, the brokerage fee is also a flat ₹20 per trade.

For F&O (Futures and Options) trades, Zerodha charges a flat brokerage fee of ₹20 or 0.03% of the trade value, whichever is lower. For currency derivatives, the brokerage fee is also a flat ₹20 or 0.03% of the trade value, whichever is lower.

Zerodha also charges GST (Goods and Services Tax) on brokerage fees, which is currently 18%. Additionally, there may be other charges such as transaction charges, stamp duty, and SEBI charges which may apply. It’s always recommended to check the fees and charges section on Zerodha’s website for the most up-to-date information.

It’s worth noting that Zerodha also offers a zero brokerage plan for equity delivery trades called “Zerodha Coin” which enables users to invest in direct mutual funds with zero commission and no other charges.

Zerodha Hidden Charges

While Zerodha is known for its low brokerage charges, there may be other fees or charges that are not immediately obvious when opening an account or trading with the company.

Some of the hidden charges that Zerodha may charge include:
-Call & Trade charges – Zerodha charges ₹20 + taxes per executed order for trades placed over the phone.

Annual Maintenance Charges (AMC) for the Demat account – Zerodha charges a annual charge of ₹300 + GST for the Demat account.
-Transaction charges – Zerodha charges a transaction charge of 0.03% of the trade value on all trades.
Stamp duty – Zerodha charges stamp duty as per the state in which the account is opened, this charge varies from state to state.
SEBI charges – Zerodha charges SEBI charges of ₹10 + GST per crore.
-Advisory Fees – Zerodha charges advisory fees on the services provided by them.
It is always recommended to check the fees and charges section on Zerodha’s website for the most up-to-date information and to consider any additional fees when evaluating the overall cost of trading with Zerodha.

Zerodha Margin Exposure

Zerodha offers margin exposure, also known as leverage, which allows traders to trade with more money than they have in their account. This can be a powerful tool for traders, as it allows them to potentially make larger profits, but it also increases the risk of losses.

Zerodha offers different margin exposures for different types of products. For example:

• For equity intraday trades, Zerodha offers up to 20x margin exposure.
• For equity delivery trades, Zerodha offers up to 3x margin exposure.
• For F&O (Futures and Options) trades, Zerodha offers up to 20x margin exposure.
• For currency derivatives trades, Zerodha offers up to 5x margin exposure.

Keep in mind that these margins are subject to change based on the market conditions and regulations. It’s always recommended to check the margins on Zerodha’s website for the most up-to-date information.

It’s important to note that trading on margin exposes the trader to greater risk and can result in larger losses. Traders should always be aware of the risks involved and only trade with money that they can afford to lose. It’s also advisable to use stop-loss orders to limit potential losses in case of adverse market movements.

Additionally, Zerodha also offers a margin calculator tool on their trading platform, Kite, which allows users to calculate the margin required for a trade. This can help traders to better manage their risk and ensure that they have sufficient funds to cover their margin requirements.

Zerodha Pros and Cons

Zerodha is a popular Indian financial services company that offers a range of investment options, including equities, derivatives, mutual funds, currency, and commodities trading. While it has many advantages, it also has some downsides. Here is an in-depth look at the pros and cons of Zerodha:

Pros:

Low brokerage fees: Zerodha charges a flat fee of ₹20 per trade for equity delivery and a flat fee of ₹20 per executed order for intraday and F&O trades, regardless of the trade value, making it an attractive option for traders who make a high volume of trades.

User-friendly trading platform: Zerodha’s trading platform, Kite, is available as a web-based application and mobile app, and it offers a wide range of charting and technical analysis tools, real-time market data, and news updates.

Wide range of investment options: Zerodha offers a wide range of investment options, including equities, derivatives, mutual funds, currency, and commodities trading. They also offer a 3-in-1 account that integrates a trading account, demat account, and bank account, making it convenient for customers to manage their investments.

Zerodha Coin: Zerodha’s platform is integrated with Zerodha Coin, which allows users to invest in direct mutual funds with zero commission and no other charges.

Cons:

Technical glitches and delays in order execution: Some users have complained about occasional technical glitches on the Kite platform and delays in order execution during high volatility.

Inconsistent customer support: Some customers have reported inconsistencies with Zerodha’s customer support, with long wait times to get queries resolved.

Hidden charges: While Zerodha is known for its low brokerage charges, there may be other fees or charges that are not immediately obvious when opening an account or trading with the company, such as Call & Trade charges, Annual Maintenance Charges (AMC) for the Demat account, transaction charges, stamp duty, and SEBI charges which may apply.

In summary, Zerodha is a good option for traders and investors looking for a low-cost, user-friendly platform with a wide range of investment options. However, it may not be the best option for those who prioritize a consistently high-quality customer support experience, or are sensitive to additional charges. It’s always recommended to check the fees and charges section on Zerodha’s website for the most up-to-date information and to consider any additional fees when evaluating the overall cost of trading with Zerodha.

Zerodha Online Account Opening Steps

Opening an account with Zerodha is a simple and straightforward process that can be completed entirely online. Here are the steps to open an account with Zerodha:

• Visit the Zerodha website and click on the “Open Account” button.
• Fill in the online application form with your personal and financial information.
• Upload the necessary documents, such as a copy of your PAN card, Aadhaar card, and a canceled cheque or bank statement.
• Once the form and documents have been submitted, Zerodha will verify the information provided.
• After the verification is complete, you will receive a login ID and password via email.
• Use the login ID and password to log in to your account and complete the KYC process.
• Once the account is activated, you can start trading and investing with Zerodha.

It’s worth noting that you will be required to maintain a minimum balance in your account to keep it active and you can check the fees and charges section on Zerodha’s website for the most up-to-date information.

Zerodha Kite Mobile Trading App Features

Zerodha Kite is a mobile trading app offered by Zerodha that allows users to trade in equities, derivatives, currencies and commodities from their mobile devices. Some of the features of the app include:

• Real-time market data: The app provides real-time market data, including live stock prices, charts, and indicators, which can help traders make informed decisions.
• Advanced charting tools: The app offers advanced charting tools, such as multiple timeframes, indicators, and drawing tools, which can be used to analyze the market.
• Easy order placement: The app allows users to easily place orders, including market orders, limit orders, and stop-loss orders, with just a few taps on their mobile screen.
• Easy fund transfer: The app allows users to easily transfer funds between their trading and demat accounts using UPI, Net-banking and other modes.
• Portfolio tracker: The app has a built-in portfolio tracker that allows users to view their overall portfolio performance and individual stock performance in real-time.
• Research and analysis: The app provides research and analysis tools, such as technical indicators, charting tools, and market data, which can help traders make informed decisions.
• Customizable watchlists: Users can create custom watchlists to monitor specific stocks or indices, and set alerts for price movements.
• Multi-language support: The app supports multiple languages, making it accessible to users who are not fluent in English.
• E-Signature & Paperless account opening: The app allows users to open account in paperless format with E-signature.
• Biometric login: Users can log in to the app using their fingerprint or face recognition, which adds an extra layer of security.

Overall, Zerodha Kite mobile app is packed with features, easy to use and provides a seamless trading experience to traders.

Zerodha Trading Software Details

Zerodha’s trading software, called Kite, is a user-friendly platform that is available as a web-based application and mobile app. Some of the key features of Kite include:

• Real-time market data and news updates: Kite provides users with real-time market data and news updates to help them make informed trading decisions.
• Charting and technical analysis tools: Kite offers a wide range of charting and technical analysis tools, including indicators, studies, and drawing tools.
• Customizable watchlists: Users can create and customize their own watchlists to keep track of the stocks they are interested in.
• Order placement and management: Kite allows users to place and manage orders directly from the platform, including limit, market, and stop-loss orders.
• Margin calculator: Kite has a built-in margin calculator that allows users to calculate the margin required for a trade.
• Algo trading: Kite also supports Algo trading, with the help of in-built Zerodha Streak, Backtesting and other third-party Algo trading Platforms.
• Multi-language support: Kite is available in multiple languages, including English, Hindi, and Bengali.
• Integrated with Zerodha Coin: Zerodha’s platform is integrated with Zerodha Coin, which allows users to invest in direct mutual funds with zero commission and no other charges.

Overall, Kite is considered to be a robust and user-friendly trading platform that offers a wide range of features and tools to support trading and investment decisions. However, some users have complained about occasional technical glitches on the platform and delays in order execution during high volatility.

Partner Products From Zerodha

Zerodha has a range of partner products that are integrated with its trading platform and are designed to enhance the trading and investment experience for its customers. Some of these partner products include:

• Zerodha Streak: A algo-trading platform that allows users to backtest, create, and automate their trading strategies.
• Zerodha Varsity: A learning platform that offers a wide range of educational resources and courses on trading and investing.
• Zerodha Coin: A platform that enables users to invest in direct mutual funds with zero commission and no other charges.
• Zerodha Sensibull: A platform that offers option trading strategies, tools, and analytics.
• Zerodha Kite Connect: A platform that allows developers to build their own trading and investment apps using Zerodha’s trading platform.
• Zerodha Smallcase: A platform that offers a variety of pre-built, diversified portfolios of stocks, also known as ‘smallcases’
• Zerodha Samco: A platform that offers a variety of trading and investment options, including equities, derivatives, currencies, and commodities.

All of these partner products are designed to work seamlessly with Zerodha’s trading platform, Kite, and are available to customers at no additional cost.

Zerodha Complaint

If you have a complaint about Zerodha’s services, there are several ways to raise it and get it resolved. Here are a few steps you can take:

Contact Zerodha’s customer support: You can contact Zerodha’s customer support team via phone, email, or the “support” section on their website. They will typically respond within 24-48 hours. If the complaint is not resolved to your satisfaction, you can escalate it to a higher level of support.

File a complaint with the regulator: You can file a complaint with the Securities and Exchange Board of India (SEBI), which is the regulator for the securities market in India. You can do this by visiting the SEBI’s website and filling out the online complaint form.

Reach out to the National Consumer Helpline: If you’re still not satisfied with Zerodha’s response, you can reach out to the National Consumer Helpline. They will investigate your complaint and help you to find a resolution.

It’s worth noting that Zerodha also has an in-house ombudsman, who is an official appointed by the company to investigate customer complaints and provide a fair and impartial resolution.

It’s important to provide as much detail as possible when filing a complaint. This includes the date and time of the incident, the name of the representative you spoke to, and any reference numbers or transaction details.

It’s also worth noting that to ensure a smooth complaint resolution process, it’s important to follow up with the customer support team or the regulator to ensure your complaint is being handled and the process of resolution is on the way.

Zerodha Review FAQs

Here are some frequently asked questions about Zerodha reviews:

Is Zerodha a reliable brokerage firm?

Yes, Zerodha is a reliable brokerage firm. It is one of the largest and most popular discount broker in India with a large customer base and positive reviews.

Are there any hidden charges with Zerodha?

No, Zerodha is transparent about its charges and there are no hidden charges. However, it is always recommended to go through the charges and fee structure before opening an account with any brokerage firm.

How is the customer support of Zerodha?

Zerodha has a dedicated customer support team that is available to help with any queries or issues that may arise. Many customers have reported that the customer support is prompt and helpful.

Is Zerodha’s trading platform user-friendly?

Yes, Zerodha’s trading platform, Zerodha Kite is user-friendly and easy to navigate. It offers advanced charting tools, real-time market data, and easy order placement.

Can I trade in mutual funds through Zerodha?

Yes, Zerodha allows trading in mutual funds through its Zerodha Coin platform, which is specifically designed for mutual fund investments. Zerodha Coin is a flat fee based Demat account, and it does not have any brokerage charges for buying or selling mutual funds and also has no account opening charges.

Are there any limitations on the amount of trading through Zerodha?

No, there are no limitations on the amount of trading through Zerodha. However, Zerodha does have certain limits on the number of free trades per month for certain segments.

Is Zerodha regulated by SEBI?

Yes, Zerodha is regulated by the Securities and Exchange Board of India (SEBI) and is a member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Is Zerodha safe for online trading?

Yes, Zerodha is safe for online trading. It uses advanced security measures to protect its customers’ personal and financial information.

How can I open an account with Zerodha?

You can open an account with Zerodha by visiting their website, filling out the online application form, and submitting the required documents. The account opening process is simple, fast and paperless.

Can I trade in international markets through Zerodha?

No, Zerodha is currently only licensed to operate in India and its customers can only trade in Indian markets.

It is always recommended to do your own research and due diligence before choosing a brokerage firm and opening an account with them.

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