Zerodha is one of the largest Stock Broker, Read Zerodha Review full in details
For experienced and regular traders, there’s nothing new about Zerodha. But for beginners and newbies it is pertinent to know about this popular retail stock broking firm which is headquartered in Bangalore and is present across all the major Indian cities.
Incorporated in 2010, Zerodha is quick to be the country’s largest retail stock broker with a huge number of active client base.
Zerodha review in details
Almost a decade back, co-founders – Nithin Kamath and Nikhil Kamath started this venture with an objective of breaking all obstacles that Indian traders and investors face in terms of cost, support, and technology.
Zerodha is a member of BSE, NSE, MCX and MCX-SX, and offers retail and institutional broking, trading of currencies and commodities, mutual funds and bonds investment to its clients.
Currently, over 3+ million clients place millions of orders daily through Zerodha’s powerful investment platforms, contributing to over 15% of all Indian retail trading volumes.
Zerodha’s focus has always been on technology, as a result it has developed various trading softwares as per its clients’ requirement and they are just awesome.
While Kite is created as a web and mobile trading app, Coin is designed as a MF investment platform, and for investor education programs they have a specially designed platform called Varsity.
Apart from this Zerodha also has developed platforms for thematic investment, option trading and bond trading, respectively known as Smallcase, Sensibull and GoldenPi.
Brokerage Charges of Zerodha
Zerodha’s brokerage charges are simplistic in nature and can help customers save a lot as compared to other broking firms.
They charge a flat brokerage of Rs 20/- per trading, irrespective of the trade volume one undertakes. So, if you undertake a minimum monthly trading of Rs 1,00,000 with 10 trades (which comes to 20 by including both buying and selling); you pay the following: 20 trades monthly X 12 months X Rs 20 = Rs 4800/- only. Details of Zerodha charges:
Type of Trading Brokerage
Equity Delivery Rs 0
Equity Intraday Lower of Rs 20 per executed order or 0.03%
Equity Futures Lower of Rs 20 per executed order or 0.03%
Equity Options Rs 20 per executed order
Currency F &O Lower of Rs 20 per executed order or 0.03%
Commodity F &O Lower of Rs 20 per executed order or 0.03%
Zerodha’s pricing suits all kinds of investors be it active or dormant investors, beginners, active traders and algo traders. Call and trade services are available at an additional charge of Rs 20 per order.
Zerodha AMC charges
Zerodha’s annual charges are also pocket friendly. It charges Rs 300 for opening a trading account, however, there’s no annual maintenance charges applicable.
For demat account opening it charges Rs 100 and Rs 300 as annual maintenance charge towards the same.
Various trading platform of Zerodha
Zerodha’s trading software can be accessed across various platforms depending on the customers’ ease of accessibility and need.
This particular platform is available both for web access as well as smartphone application. Kite 3.0 is the latest version and is a HTML 5 lightweight platform which is also fast in operation.
Kite was first launched in 2015 and thereafter went through several versions of updates in order to address customer issues. Kite is developed in-house and is available free to all Zerodha customers.
Kite offers full market watch, immense charting with over 100 indicators and 6 types of chart, advanced order types, millisecond order placements, and much more for providing smooth trading experience.
Kite’s mobile app is available for both Android and iOS platforms. It helps customers to trade and monitor stocks and commodities, while on the go. This easy to use app is available for free.
This back-office platform of Zerodha offers few awesome analytics tools such as tradebook and heat-map to help customers take informed decisions while trading.
Basically Console is a trading dashboard which provides customers with reports so that he can monitor their investments in form of stocks, MFs, derivatives etc.
One can download contract notes, get account statement, check ledger details and place withdrawal request through this particular platform. Zerodha Console came into existence since 2018, when it “Zerodha Q” was updated with advanced features.
This recently launched platform from Zerodha is a cloud based tool that helps traders’ community to invest effectively. Basically it is a trigger notification software that provides real time market alerts based on price, trade volumes etc that is added my the user in his profile.
These notifications are mainly sent on Kite and e-mail every time an alert is triggered. Through Sentinel, one can get real time alerts of over 80,000 stocks, derivatives and bonds across exchanges.
This is a platform that allows you to buy direct MFs online with no commission pass back, directly from the AMCs. By transacting through Coin, one saves on the commission and these purchased MFs are deposited in demat account that is linked with Zerodha trading account.
Zerodha Coin has over 2000 MFs available to choose from and makes it convenient for the investors.
This high performance software from Zerodha is ideal for intraday traders as it is loaded with quantitative tools. Known to consume low internet bandwidth and occupy less memory space,
Zerodha Pi offers advanced charting functionality with an option to change the timeline as per customer’s requirement.
Pi offers personalised themes with customised dashboard, filters, and colour setting as per trader’s preference. One can add upto 250 scrips in the market-watch feature.
Not everybody is online nor are they comfortable trading online. For them Zerodha has an option of Call & Trade. However, this service is charged at Rs 50 per executed order.
This is over and above the brokerage fee of Rs 20 per order. Call & Trade is available between 9 am to 11:55 pm by calling 080-47181888 from registered number and choosing the right IVR option.
OPEN DEMAT & TRADING ACCOUNT
Pros and Cons of Zerodha
Everything comes with its own list of merits and demerits, and the same is with Zerodha platform which is listed below.
Advantages of Zerodha
The biggest advantage of trading on Zerodha is that it has low fees, and even offers free equity delivery trading.
Irrespective of the trade volume, the brokerage rate is fixed.
For opening an account in Zerodha, no minimum balance is required.
It has a referral program which helps to earn you even more
The UX and UI of the web and mobile trading platforms are relatively easy and hassle free equipped with a range of quality research tools.
It is safe and reliable to trade on Zerodha platform
Disadvantages of Zerodha
The product portfolio covers Indian market only.
Technical glitches causes delay during trading hours which can be frustrating.
There’s no investor protection available.
It doesn’t provide any trading tips or recommendations, nor are any research reports ever shared.
For Mac and Linux operating system, the trading software is non-functional.
How to Open a Zerodha account?
Opening account with Zerodha is fairly simple and can be done both online as well as offline.
The following documents are mandatory for opening an account.
PAN card
Aadhaar Card
Passport sized photo
Cancelled cheque
Income proof
Online opening of Zerodha account takes more or less 15 minutes.
If the above mentioned documents are with you which needs to be uploaded as a scanned copy.
Authentication is done with OTP send to the mobile number linked with Aadhaar.
Incase you are not comfortable in sharing Aadhaar details, you can opt for offline mode of account opening. You need to download the account opening form, take a print out and fill it up with requisite details. Zerodha representative can then take the form and documents for further processing.
