Zerodha

Overview

Zerodha holds the position of India's top stockbroker, ranking among the largest and most esteemed brokers providing online flat fee discount brokerage services for investments in Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Govt. Securities, and Direct Mutual Funds.

Zerodha imposes Rs 0 brokerage for equity delivery trades and direct mutual funds. For intraday and Futures transactions, the charge is a flat fee of Rs 20 or 0.03% (whichever is lower) per trade. Additionally, for Options trades, a flat fee of Rs. 20 is charged per executed order. This implies that with Zerodha, the maximum brokerage payable for any transaction is capped at Rs 20 for an order, regardless of its size, amount, or segment.

Zerodha is currently regarded as the leading stock broker. The company offers a superior online trading platform, levies a low brokerage fee, and is perceived as the most transparent stock broker. Through continuous improvement and innovation, Zerodha has established itself as the fastest-growing fintech company in India.

Why Zerodha is Safe

• The company boasts an exceptionally low ratio of complaints to active clients on the exchange.
• It operates as a debt-free company.
• Client securities are not commingled in a pooled account.
• The company does not engage in proprietary trading using client funds.

Key Strengths of Zerodha

• It holds the position of the largest stockbroker in terms of active clients, market volume, and new customer acquisition.
• Zerodha is renowned for being one of the safest, most reliable, and trustworthy brokers.
• The company offers the most sophisticated online trading tools.
• It charges zero brokerage fees for equity delivery and mutual funds.
• The maximum brokerage charged per trade is Rs 20, resulting in a 60% to 90% savings on brokerage compared to traditional brokers.
• The company provides up to 20x leverage for intraday trading.
• It offers zero-commission direct mutual funds.
• Zerodha caters to a wide range of investors, including active and passive investors, beginners, active traders, and algo traders.

Trading Platforms

Zerodha is recognized as the most technologically advanced stock broker in India, offering a suite of trading software to its customers:

• Zerodha Kite - A web and mobile trading application
• Coin - A platform for mutual fund investments
• Varsity - An investor education program
• Trading Q&A - A community support tool
• Smallcase - A thematic investment platform
• Streak - An algo and strategy platform
• Sensibull - An options trading platform
• GoldenPi - A bonds trading platform
• Ditto - An insurance platform

Zerodha Member Code & SEBI Registration

Zerodha Account Opening Charges

Zerodha Brokerage Charges 2026

Zerodha Equity Charges

Zerodha F&O Charges

Zerodha Currency Charges

Zerodha Commodities Charges

Note: SEBI charges for Agri products is 0.00001% (Rs 1/Crore).

Zerodha Fee Structure

• Securities Transaction Tax (STT): This is charged only on the sell side for intraday and F&O trades. It is charged on both sides for Delivery trades in Equity.
• Transaction Charges (Exchange Turnover Charges): This fee charged by the stock exchanges for using their trading platform.
• Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus SEBI charges and transaction charges.
• SEBI Charges: This is charged at Rs 10 per Crore.
• Stamp Duty: Eq Delivery - 0.015% (buy side), Eq Intraday - 0.003% (buy side)

Zerodha Hidden Charges

Zerodha brokerage hidden charges include:

1. Call and Trade feature is available at an extra cost of Rs 50 per call.
2. Additional charge of Rs 50 per executed order for MIS/BO/CO positions which are not squared off by the customer.
3. 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 are extra.
4. 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.
5. Instant payment gateway charges for over 22 banks: Rs 9 per fund transfer.
6. DP charges for delivery-based equity selling: Rs 13.5 + GST per transaction.

Zerodha Online Account Opening

To initiate online trading with Zerodha, it is necessary to create an account. By completing an online account opening form, you can instantly open an account and commence trading on the same day.

Steps to open Zerodha account online

1. Visit Zerodha.com
2. Click on the signup button located at the right-hand side of the top menu
3. Enter your mobile number
4. Enter the OTP received on your mobile phone
5. You will be required to enter your details, PAN, and bank account information during the process.

Zerodha Trading Platforms

Zerodha offers its customers the following trading options:

1. Kite 3.0 (Web-based Trading Platform)

Introduced in November 2015, Zerodha Kite Web is a lightweight and fast web-based HTML 5 trading platform that can be utilized for trading on mobile devices, tablets, and web browsers. Developed in-house by Zerodha, Kite has undergone numerous updates since its launch. Currently, the Kite 3.0 web platform is available to Zerodha customers. It provides a comprehensive market watch, extensive charting with over 100 indicators and 6 chart types, advanced order types such as Cover order, GTT order, and millisecond order placements, among other features for trading on BSE, NSE, and MCX. The Kite Web 3.0 platform is offered free of charge to all customers.

2. Kite Android / Kite iOS (Mobile Trading App)

A mobile application for Android and iOS devices, this app enables customers to trade using their mobile phones. The Kite Mobile app is available for free to all Zerodha customers, allowing them to trade and monitor stocks, currency, and commodity markets in India. With live streaming data from BSE, NSE, and MCX, the Kite Mobile App is the most advanced trading app available in India.

3. Zerodha Console (Reporting Dashboard)

Console serves as the back-office platform for Zerodha, functioning as a trade and reporting dashboard. Here, Zerodha customers can view and monitor all their investments, including stocks, derivatives, and mutual funds. They can also access various reports, obtain account statements, place withdrawal requests, and download contract notes. Additionally, the 'Console' offers analytics tools such as tradebook and heatmap.

4. Zerodha Sentinel (Price Alert Tools)

Sentinel is a cloud-based tool that allows Zerodha customers to set up price alerts for stocks, futures, and options. A unique feature of Sentinel is that, unlike other similar price alert tools that are machine-dependent and only trigger when the computer is on, Sentinel's price alerts can be triggered at any time, even when the computer is off. Notifications are sent via Kite and email every time a price alert is triggered. With Sentinel, traders can set real-time price alerts on 80,000 stocks, derivatives, and bonds across exchanges.

5. Zerodha Coin (Mutual Fund Investment)

Zerodha Coin is a Mutual Fund investment platform offered by Zerodha. Coin enables individuals to invest in Direct Mutual Funds, allowing for commission-free direct MF investment. This platform offers savings of over 1.5% on commissions every year. Mutual Funds are deposited into the Demat account linked to the Zerodha trading account.

6. Call & Trade

Customers who are not online can utilize the Call & Trade function to place orders, which will incur an additional cost of Rs 50 per trade.

Partner Products From Zerodha

Zerodha offers its clients a wide range of products, including its own trading platforms and tools, as well as those developed by partner companies that leverage the Zerodha platform. These partner tools can be easily integrated with Zerodha's Kite platform. The trading platforms and tools provided by Zerodha's partners include:

• Smallcase - This pioneering thematic investment platform enables users to invest in pre-curated portfolios of stocks centered around a specific theme or concept. With numerous smallcase options available, such as Top 100 stocks, Electric Mobility, and Insurance, investors can select the one that aligns with their investment strategy and invest with a single click.

• Streak - As a comprehensive cloud-based platform, Streak allows retail traders to create algorithms without requiring coding knowledge, backtest them using historical data, and execute them live in the market. Additional features include real-time information, alerts, and position management.

• Sensibull - This options trading platform provides traders with suggested trading strategies based on their market outlook. Using Sensibull, traders can compare various strategies, assess their potential profitability, understand the associated risks, and then execute them directly from the platform. Furthermore, traders can create custom option trading strategies tailored to their needs.

• GoldenPi - GoldenPi is an online platform for trading bonds and debentures. This automated and technology-driven platform offers real-time updates on new investment opportunities, incoming interest payments, and personalized assistance. Notably, GoldenPi does not charge any fees to its customers, with a minimum investment amount of Rs 10,000 for bonds.

• Ditto - Ditto is an online insurance platform that provides customers with expert advice and guidance on insurance matters. The platform offers a range of insurance solutions to cater to diverse customer needs. As an advice-cum-insurance investment platform, customers can book a free consultation, discuss their requirements, and purchase insurance accordingly. The app allows customers to buy various types of health and life insurance products.

Zerodha Pros and Cons

Zerodha Pros (Advantages)

• The account opening process is complimentary for all users.
• Most popular Broker - Zerodha holds the position of the largest stock broker in India (by the number of active clients and daily trading volume).
• It is regarded as the most secure, dependable, and trustworthy broker in India
• The best trading platforms & tools in the industry - Kite, Console, and Coin
• No brokerage on Equity Delivery Trades - You are not required to pay any brokerage when you purchase shares using cash-and-carry (CNC). Delivery trade has no leverage. Once bought, shares get delivered to your demat account and if sold, shares will get debited from your demat account.
• Cheapest share broker in India - They offer services under a simple pricing model. They charge 0.03% or Rs 20 per executed order, whichever is lower, regardless of the trade size. The maximum brokerage paid by the customer is Rs 20 per trade.
• Zerodha Referral Program - Refer a friend and earn 10% of brokerage share.
• Self-Clearing Broker - Zerodha is a self-clearing broker. They do not charge clearing charges from customers.
• Pay as you go Brokerage Plans - Zerodha has a simple pay-as-you-go brokerage plan. There are no prepaid brokerage plans available.
• Zerodha GTT order - Set long-standing stop loss and target orders for your stock investments.
• Zerodha Kite 3 mobile - An all-new mobile app built for both, passive investors and active day traders, with significant speed and user experience enhancements.
• Online IPO Application - You can apply for new IPOs (Initial Public Offerings) directly with a Zerodha account.

Zerodha Cons (Disadvantages)

• Doesn't provide stock tips, research reports, or recommendations.
• Monthly unlimited trading plans are not available.
• Lifetime free AMC demat account plans are not available.
• An additional charge of Rs 50 per executed order for MIS/BO/CO positions which are not square off by the customer.
• Call & Trade is available at an additional fee of Rs 50 per executed order.
• 3-in-1 trading account is not available as Zerodha doesn't provide banking services.
• Unlike most 3-in-1 accounts providers, Zerodha Back Office (console) is not integrated with its trading platform. The data in the back office gets updated overnight.
• BSE SME IPOs are not available. NSE SME IPOs are available.

Zerodha Margin Exposure

The intraday trading margin offered by Zerodha is up to 20% of the trade value, with a maximum leverage of 5x, as determined by the specific stock. For Zerodha's F&O intraday trading, a margin of 1.3x is applicable across various segments, including Equity, Currency, and Commodity trading on the BSE, NSE, and MCX exchanges. Furthermore, no additional margin is provided for Zerodha F&O positions that are carried forward or for equity delivery trades.

Zerodha Ratings

Based on 492 Votes by Zerodha Customers

Zerodha Complaints

The number of active customers reported by the broker. The total number of complaints received against the broker at the given exchange.

Zerodha Pin Codes

Zerodha clients are assigned 3 distinct authentication codes (passwords or PINs) for different purposes:

1. Kite PIN (for logging into Kite)
2. Zerodha Telephone Code (for phone-based interactions with Zerodha)
3. Zerodha CDSL TPIN (for facilitating Demat sell transactions)

Zerodha Short Selling

1. Equity F&O Segment - Zerodha allows both intraday and overnight short selling transactions within the F&O segment.
2. Equity Cash Segment - Zerodha facilitates intraday short selling, but does not permit overnight short positions.

Frequently Asked Questions

1. Is Zerodha really free?

Zerodha offers genuinely free equity delivery trading and Mutual Fund investment, with no brokerage charges. However, a flat fee of Rs 20 or 0.03% (whichever is lower) per executed order is applied for brokerage on intraday and F&O trades across Equity, Currency, and Commodity segments.

Although Zerodha provides commission-free trading in equity delivery, additional charges are applicable, including Government Taxes (Securities Transaction Tax (STT), Exchange Turnover Charges, GST, SEBI Charges, and Stamp Duty), Demat Transaction Charges (Rs 13.50 flat for every debit transaction), and Demat Account AMC (Rs 300 yearly).

2. What is Zerodha demat account?

A Zerodha demat account is an electronic account that enables the secure holding of financial securities, including stocks, bonds, and mutual funds. This demat account allows for rapid, secure, and paperless share transactions. The Zerodha demat account is established with CDSL, which holds the demat account, while Zerodha provides the necessary services.

3. Is Zerodha the best?

Zerodha excels in several areas:

1. It offers the best trading platform in India.
2. It provides brokerage-free equity delivery trading.
3. Direct mutual funds are available, allowing investors to earn an additional 1.5% without commission.
4. It charges a lower brokerage fee of Rs 20 per trade compared to full-service brokers.
5. The leadership has a clear and exciting vision for the future.
6. It is highly popular among both frequent traders and casual investors.

4. How much Zerodha charge for trading?

Zerodha offers brokerage-free equity delivery trading and charges a flat fee of Rs 20 for intraday and F&O trades. Additionally, orders placed through the Call & Trade facility in all segments incur an extra charge of Rs 20 per executed order.

5. How to open Zerodha account online?

Zerodha provides an online paperless account opening process for all customers. Individuals can open a 2-in-1 account, which includes both trading and demat accounts. To open a Zerodha account, follow these steps:

1. Visit Zerodha.com
2. Click on the signup button located at the top right-hand side of the menu
3. Enter your mobile number
4. Enter the OTP received on your mobile phone
5. Provide your details, PAN, and bank account information as required during the process.

6. Does Zerodha provide IPO?

Yes, Zerodha offers online IPO application services. As a Zerodha customer, you can apply for an IPO online through the Console and pay using any UPI 2.0 enabled app. Here are the steps to apply for an IPO online with Zerodha:

1. Login to Zerodha Console
2. Click on the Portfolio menu and select 'IPO'.
3. Choose the IPO you want to apply for from the list
4. Enter your UPI ID
5. Enter bid details like price, quantity, etc.
6. Click Submit
7. You will receive a 'Mandate' request on your UPI app, click 'Proceed' to complete the process.

7. Does Zerodha offer direct Mutual Funds?

Yes, Zerodha offers commission-free direct Mutual Funds (MF) investment through its online platform called 'Zerodha Coin'. With direct MF, investors can save over 1.5% on commissions every year. The mutual funds are credited into the customer's demat account. The Coin also allows for SIP (Systematic Investment Plan) of Mutual Funds.

8. Does Zerodha offer margin trading?

No, Zerodha does not offer margin trading, as per the SEBI law introduced in Jan 2020. Customers must pay the full margin prescribed by the stock exchange.

9. Does Zerodha give tips?

No, Zerodha does not provide stock tips, recommendations, research, or advisory services. Zerodha is an online discount broker that offers only trading, demat account, and mutual fund services. It does not offer other services like advisory, research, or wealth management.

10. Why Zerodha charges for fund transfers?

Zerodha uses 3rd party services for online instant fund transfers and charges Rs 9 for any transaction through this payment gateway, with most of the amount paid to the service provider.

Fund transfers are free when using IMPS, NEFT/RTGS, and Cheque transactions, but the funds are not available instantly for trading in these cases.

11. What is Zerodha varsity?

Zerodha Varsity is an investor education platform from Zerodha, where customers can enhance their knowledge and skills on trading and investments. It features various modules or courses on different aspects of stock trading.

12. What is the Zerodha console?

The Zerodha console is the back-office platform of Zerodha, serving as a reporting dashboard where customers can view and monitor all their investments, access various reports, account statements, place withdrawal requests, and download contract notes. The Zerodha console uses the same user ID and password as Kite, the trading platform.

13. How to change bank account in Zerodha?

The bank account linked to the Zerodha Trading and Demat account can be modified by submitting an account modification request. This request must be submitted offline using a signed paper form, as Zerodha does not offer online account modification for changing the linked bank account.

Steps to change bank account in Zerodha:

1. Go to Zerodha.com
2. Click on the 'Downloads & resources' link in the footer 'Support' section
3. Download the 'Account modification form' from the 'Change request forms' section.
4. Print and fill the form.
5. Add proof of the new bank account*.
6. Send the form to the Zerodha office in Bangalore.

*The accepted bank proof is any one of the documents like:

• Canceled cheque (name must be printed on the cheque)
• Bank statement (with IFSC Code and MICR No.) (printed self-attested copy)
• Bank passbook (self-attested photocopy)

Note:

• Rs 25 will be charged for the modification.
• Once the form is received, it takes 1 working day to update.

14. What is square off time in Zerodha?

The auto square-off is triggered in the following scenarios:

• CO/MIS position is not closed within a designated square-off time.
• Insufficient margins in case of derivative positions
• MTM losses exceed 50% of the position

Note:

• The auto square off attracts additional charges of Rs 50 over and above the brokerage.
• The above-mentioned timings may change slightly based on market volatility. Zerodha informs its customers of any changes via mobile app notification.