Zerodha Review and Brokerage Information

  “Zerodha Review

Zerodha was started by Mr. Nitin Kamath, a trader by himself in 2010. It is one of the first online discount brokers of India and currently leads the rest of the pack both in terms of number of customers and daily turnover on the exchanges. The number of customer as on November 2016 exceeds 1,75,000 (One Lakh Seventy Five thousand) and the daily turnover of more than 10000 crores, which accounts around 5% of NSE total turnover. For more details visit 20 awesome Reasons that you should not miss about why to Trade with Zerodha put up on their website

Zerodha Background Information: It was 2010, many traders were disappointed when Reliance money discontinued their Prepaid Brokerage card and started charging based on the turnover. Many of them had to forfeit what ever the balance they had on the prepaid card and some of them even had around Rs10000. Only Reliance Money was the affordable broker at that time and that led many traders to lookout for brokers to match their trading profile.

Two of the new kids in the block, Zerodha Brokerage and RKSV started making lots of news in the trading forums and other online platforms.

Zerodha grabbed the attention by its unusual name. By the way Zerodha = Zero + Rodha (meaning “Barrier” in Sanskrit)

If somebody has been associated with them from last few years, surely he/she will agree that Zeodha has evolved tremendously. From support for bank account of a single bank to accounts of five banks. From web based “nowonline” trading platform to “Zerodha Pi”. From single office at Bangalore to 10+ spread across multiple cities!.


Update: Earlier they used to provide only trading account and for demat account, they had tie up with IL&FS. Now they have started their own Demat services which will help the investors in seamless and hassle free transfer of funds and Securities and also reduced DP Charges.

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Starting from 01st December 2015, all the delivery based transactions done through them are totally free of brokerage charges. Then how does they make money?. For this, you need to visit this page 

If you still have any queries, you can request a free call back from Zerodha here


 Zerodha Brokerage Charges

They charge Flat Rs20 per executed order or 0.01% (Rs Zero for delivery) irrespective of number of shares. When traders first read “Rs20/order”, many of them thought this as another scam building up to suck small investors!. But the new age discount brokers made it possible and revolutionized the way Indians trade.

People started calculating how much they can save by switching to discount brokers like Zerodha or RKSV. For example, compare the brokerage with that of a full service broker who are charging 0.05% on the total turnover (Rs 9001000 in the below example). It was coming around Rs4500 just in brokerage, leave alone other charges. Straight away you will be in the indirect profit of Rs4510 (Rs4500 – Rs40 = Rs4510) as soon you opened your position.


Zerodha savings calculator

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Just see the difference, Rs12Lakhs vs Rs10600/- . Savings of almost 12 lakhs by just switching the broker!

We advice you to check out your savings too using the “Zerodha Brokerage Savings calculator

The biggest advantage you can observe is, you need to sell your positions for just 1 point above your buying price to find yourself profitable. If you had to sell your positions with 1 point with traditional brokers, you would find yourself in deep loss just because of brokerage. And Options segment was still worse as they charge between Rs60 to Rs100 per lot!.

Zerodha Brokerage Calculator

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You can also find out your exact break-even point using their  “Zerodha Brokerage Calculator“.

Checkout our handy chart of Zerodha Brokerage Fees for your quick reference.

Zerodha Brokerage Charges

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Tweet: Brokerage Structure of Zerodha - The Largest Discount Broker of IndiaBrokerage Structure of Zerodha – The Largest Discount Broker of India

 Zerodha Trading Platforms

When Zerodha was started, “nowonline” was the only platform offered which was basically from NSE and not Zerodha. They introduced many resources one after another. Infact their main strategy was to introduce many interactive tools and customer services to attract more clients as they had no resources to advertise and promote.

Today they offers many trading platforms like Zerodha Trader, Zerodha Z5, Zerodha Mobile etc.  Zerodha Pi  and Kite are the latest addition from them. Kite and Pi are the homegrown products of Zerodha whereas the earlier mentioned ones are from Omnesys Technologies Ltd. Most of the other discount brokers still offer the products from Omnesys. However development of inhouse products has given an edge since they have complete control over them in case of any customization or feature enhancement is required. They dont have to depend upon the third party like Omnesys.

1) Zerodha Kite

zerodha-kite-initiate-chart

Zerodha Kite is a light weight HTML 5 based proprietary trading platform developed by them most suitable for trading through browsers, Mobiles and tablets. One can use this platform in 11 languages and Zerodha is the first broker to offer trading in Indian regional languages. The web version of Kite is suitable for someone trading behind the Office firewall and also where installation of external software is prohibited. It is also best suited for the user having low Internet speed of less than 512Kbps. Mobile version of Kite is available for Android and as well as iOS phones.

Read : Zerodha Kite Review : Features and Capabilities : Details

2) Zerodha Pi

zerodha pi Trading platform

Zerodha Pi is next generation trading platform which offers many features such as Integrated Charting with upto 50000 candles, more than 80 technical analysis indicators etc.

The most important feature is, you can backtest your strategies with the Zerodha Pi.  This something you usually do with buying third party charting software.

You can find out more about this advanced trading platform at Zerodha PI- Trade like it is 2020

And at last, If you are not a technology freak and uncomfortable with advanced platforms, you can still use “nowonline”. Only disadvantage though is, you can not buy stocks on BSE since the platform is basically from NSE.

And you have good old Call and Trade, but you will be charged Rs20 per order.

Also Read : Details of India’s Best 10 Stock Trading Platforms

 Zerodha Exposure Margin:

Below table gives the details of the intraday margin (leverage) requirements for various segments like equity, F&O etc.

Item
Equity/Cash
Futures
Options
Currency
Commodity
Margin Benefit4-10 times40% of the exchange prescribed marginNone for buying. depends upon the strike price for selling100% of Exchange prescribed margin50% of Exchange prescribed margin
Margin Time9:15 to 3.109:15 to 3.009:15 to 3.009:15 to 4.4525 minutes before the close
If ShortagePositions will be squared off automaticallyPositions will be squared off by RMS AdminPositions will be squared off automaticallyPositions will be squared off automaticallyPositions will be squared off automatically
Margin Against Stock4-10 times based on the Zerodha's valuation of clients portfolioMargin provided if MTM losses can be brought in on the same dayMargin provided if MTM losses can be brought in on the same dayMargin provided if MTM losses can be brought in on the same day

 Zerodha in comparison with other Stock Brokers:

Check out how they equates with other brokers

Zerodha Comparision Matrix
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 Zerodha Problems

There are few issues related to them in discussion forums and social media.  However it is the case with any other broker, and we as a traders have to live with this. We just have luxury to choose best among these and must go with the one who atleast addresses our concerns proactively.

 Zerodha Problems

We can expect this only from a CEO who thinks that, success or failure of his firm as question of his own life and death. We have seen Mr. Nitin Kamath answering the concerns of his customers. You can not expect this kind of connect from a larger brokerage firms headed by some board of directors.

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 Is Zerodha Brokerage Right for “YOU”?

Zerodha is not for you:

* If you are trader expecting some tips from your broker

* If you like to like to see trading account and back office under single platform. Zerodha backoffice is separate  entity and you need to login to see it to access it.

Zerodha is for you:

We have already discussed both many positives and negatives of trading with Zerodha.

There are many other positives you find in Zerodha against other discount brokers. They have many branches compared to very few branches which other discount brokers has. It makes them more accessible.

Zerodha 60 day challenge : Take up this challenge and if you come up profitable at the end of 60 days, your entire brokerage will be refunded. You will also get certificate and recognition apart from an opportunity to become full time trader at Zerodha!. So you can trade on Zero Brokerage for 60 days. More details can be found at Zerodha 60 day challenge – Meet previous Winners and find out their trading secrets

Bracket and Trailing Stop loss order: It will never be a complete review if we don’t mention about the “Bracket and Trailing Stop loss order” offered by them. This is one feature which normally offered by Forex brokers worldwide and they are the first to offer it in India.  With this you can have increased protection to your open position.

Zerodha Varsity: Its their attempt to solve the two biggest problems of novice traders, “Lack of knowledge” and “Access to knowledge”

Trading qna: It is another initiative by them leveraging vast knowledge existing among the trading community. It is a forum like platform where in members answer each other queries.

Algorithm Development; With Zerodha Trader you code your technical trading strategies and back test it. This algorithm trading tool is available for free to all the customers.

Zerodha platform provides a plug-in for the widely used technical analysis software AmiBroker, You can directly trade through AmiBroker in the semi-automated or fully-automated way.

 How to open Zerodha Demat and Trading Account?

The quickest and easiest way to open the trading and demat account with them is “Online”. Entire account opening process is online except sending the duly signed form to them through courier.

The first step to open the account would be to visit Zerodha Account Opening page and register yourself as shown below. The biggest advantage of registering is that, you can fill your application at your leisure, that is, if you don’t have any of your personal data right now, you can save the current filled form and relogin at any time to continue the application.

Zerodha-review-screen-shot

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Once you fill up all the details, download and print the forms. Sign across at all the necessary places and send it to the address provided at the end of this article.

Read : Detailed article on procedure to open an account with Zerodha

Following are the documents required for opening the account:

a) PAN Card

b) Address Proof

c) 2 passport Size color Photograph

d) 2 Cheques : 1. One Cancelled cheque 2. One Cheque favoring them amounting to account opening fee

If you want to trade derivatives then 1 copy of any of the following documents:

e) Pay slip (latest)

f)  Form 16 / IT Returns ( latest)

g) 6 month Bank statement (latest)

 Zerodha Account Opening Charges:

* If you want to open only Trading Account: Rs 300/-

* If you want to open Demat Account: Rs 850/- (It Includes Rs400/- Annual Maintenance Charge of first year)

* If you want to open only Commodity Trading account: Rs 300/-

 Zerodha Fund Transfer:

Pay in (Deposit): You can transfer funds into your Trading Account via the following methods.

1. Through Zerodha Trader – You can transfer the funds from the linked bank account through the Zerodha Trader. Your account will be immediately reflected with the fund transferred. But mind you it will cost you Rs.9 per transfer. 

2. Through Backoffice– You can transfer the funds from the linked bank account through the their Backoffice. Your account will be immediately reflected with the fund transferred. It will also cost you Rs.9 per transfer. 

3. Through nowonline.in – This is the cheapest and quickest mode of fund transfer if you are still using nowonline. You can transfer the funds from the linked bank account through the nowonline.in. Your account will be immediately reflected with the fund transferred. This mode of fund transfer is free of cost.

4. NEFT/RTGS – Funds can be transferred electronically to your trading account from any of the linked bank via NEFT/RTGS. You will not be charged for NEFT/RTGS transfers

5. Cheque Deposit – You can transfer funds to your trading account by cheque from any of your linked bank account. You are required to send the scanned copy of the cheque to them

Pay out (Withdrawal): A payout can be requested through thier back office. Your withdrawal request will be processed by RTGS/NEFT transfer. Fund withdrawals are totally free of cost. You can not withdraw funds through nowonline.in

If you still have any queries, please fill your details in the form below, a dedicated representative from Zerodha will guide you about account opening procedure in detail and clear all the queries,in language of your own preference



  Table of Products and Services offered by Zerodha

Type of BrokerDiscount Broker
Supported ExchangesNSE, BSE, MCX-SX and MCX
Trading Account Opening FeesRs 300
Trading Account AMCNIL
Demat Account Opening FeesRs 100
Demat Account AMCRs 300
Brokerage Charges
Equity Delivery BrokerageRs Zero (Yes, Zero Brokerage for Delivery Trades)
Equity Intraday Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Equity Futures Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Equity Options Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Currency Futures Trading Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Currency Options Trading Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Commodity Trading Brokerage0.01% or Rs 20 per executed order, whichever is lower.
Minimum Brokerage ChargesNIL
Monthly Brokerage Plans
Transaction Charges
Equity DeliveryNSE: 0.00325% | BSE: 0.00275% | MCX-SX: 0.002%
Equity IntradayNSE: 0.00325% | BSE: 0.00275% | MCX-SX: 0.002%
Equity FuturesNSE: 0.0021% | BSE: 0.0007% | MCX-SX: 0.0014%
Equity OptionsNSE: 0.053% | BSE: 0.0027% | SX: 0.027% (on premium)
Currency FuturesNSE: 0.00135% | MCX-SX: 0.0013%
Currency OptionsNSE: 0.044% | MCX-SX: 0.037%
CommodityNon-Agri: 0.0031% | Agri: 0.00175%
Features
3 in 1 Account
Mobile Trading
Charting
Automated Trading
After Trading Hour Orders
Good Till Cancelled (GTC)
SMS Alerts
Online Demo
Online Portfolio
Margin Funding
Trading PlatformZerodha Trader , Z5, Zerodha PI
Intraday Square-off Time3:20PM
Investment Services
Stock / Equity
Commodity
Currency
Initial Public Offers (IPO)
Mutual Funds
Bond / NCD
Debt
Customer Service Channels
24/7 Customer Service
Email Support
Onine Live Chat
Phone Support
Toll Free Number
Support Through Branches
Research Reports/Tips/Recommendations
Daily Market Report
Tips/Recommendations
Quarterly Result Analysis
News Alerts
Promotional Offers
  • Zero Brokerage Charges for all Delivery Transactions
  • Rs 100/- Off on online account Opening
  • Brokerage Refund if you you are profitable in 60 days

 Registration and Contact Information:

Zerodha SEBI Registration
NSE CM: INB231390627| NSE F&O: INF231390627 | NSE CDS: INE231390627 | 
BSE CM: INB011390623 | BSE F&O: INF011390623 | MCX-SX CM: INB261390620 |
MCX-SX FO: INF261390620 | MCX-SX CDS: INE261390620 |
MCX Membership Number: 46025 | FMC Code: MCX/TM/CORP/1945| 
CDSL: IN-DP-CDSL- 00278209 | NSDL: IN-DP-NSDL-11496000
NCDEX Membership Number : 1138 | FMC Code: NCDEX/TM/CORP/111 
Zerodha Contact:
Registered Address:  #153/154, 4th Cross, Dollars Colony, Opp. Clarence Public School, J.P Nagar 4th Phase, Bengaluru, Karnataka 560078 
Contact Number : +91 80 4913 2020
E-mail :  [email protected]
Zerodha Complaints or Grievances : [email protected]

 

That’s about the review of the Zerodha Brokerage. Finally we leave you with the link to the information about the team behind Zerodha: Beautiful people behind Zerodha. You may also be interested in what their existing customers are telling about them by visiting Zerodha customer testimonial page. If you already have account with them, let us know your experience (good or bad) and ratings/critics or any problems/issues faced through the comments. Also do you recommend them? If yes, Why Zerodha?

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  How was your Experience with Zerodha? – Share with fellow Traders

*Zerodha Marketing Partner

Summary
Reviewed Item
Zerodha Brokerage
Author Rating
5

Filed Under : Discount Brokers Indian Share Brokers Reviews

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