Introduction
Want to know all about Zerodha Review 2022? Then, you have landed on the right article!
Warren Buffett has rightly said, "If you don't find a way to make money while you sleep, you will work until you die." Investing is an excellent medium to park your money.
It allows you to grow your money, retire early, and also helps you win the race against inflation. The stock markets can be the proper embodiment of a money plant if you invest right, make informed decisions, and be wary of the associated risks.
In today's world, investing has become easier than ever. With the presence of discount brokers, investing has become as easy as shopping online.
Zerodha Broking Limited is an Indian financial services company offering retail brokerage, currencies and commodities trading, mutual funds, and bonds.
Founded in 2010 by Nithin Kamath and Nikhil Kamath, Zerodha addresses all barriers that traders and investors face in India in terms of cost, support, and technology.
In fact, the name Zerodha itself is a combination of "Zero" and "Rodha", the Sanskrit word for a barrier. In this article, we discuss the stockbroker who has revolutionized stock market trading in India, Zerodha.
It has brought a revolution in India by making the art of learning accessible for all. With its robust online trading platform and finest mobile trading app, anyone can trade in the stock market from the comfort of their homes.
Zerodha Review
Zerodha is India's largest discount broker, offering the greatest online trading platform, high exposure for minimal brokerage, free mutual fund investments (through the platform), and much more.
It has 9 lakh customers, 22 branch offices, 94 associate offices, and 6 support-call & trade offices. In addition, to empower retail traders and investors, they conduct a number of popular open online instructional and community projects.
Zerodha has also partnered with platforms, such as Smallcase (Thematic investment platform), Streak (Algo & strategy platform), Sensibull (Options trading platform), GoldenPi (Bonds trading platform), and-
Ditto (Insurance) to provide different investment tools all on one app.
Here are the key strengths of Zerodha:
- The largest stockbroker by active clients, market volume, and new customer acquisition.
- One of the safest, most reliable & trustworthy brokers.
- Offers the most advanced online trading tools.
- Charges zero brokerage fees for Equity Delivery and Mutual Funds.
- The maximum brokerage charge is Rs 20 per trade. You save 60% to 90% on brokerage compared to traditional brokers.
- Offers up to 20x leverage on intraday trading.
- Offers zero Commission Direct Mutual Funds.
- Suitable for all kinds of investors, including active and passive investors, beginners, active traders, and also traders.
If you are an Investor, the broker provides you with
- Free educational content on the Stock Market and investing.
- Free equity deliveries.
- Real-time market alerts for free.
- GTT (Good Till Triggered) order that enables an investor to place a buy/sell order that gets executed at the desired price for the desired quantity and that too with a validity of one year.
If you are a Trader, the broker provides you with
- An ultrafast & user-friendly trading platform with advanced charting tools.
- Access to 20 market-depth views for building trading strategies.
- Extensive historical data & chart indicators for better decision making.
Zerodha has won several awards, including the BSE-Dun & Bradstreet Emerging Equity Broking House award in 2014 and 2015, the Bootstrap Champ award at the 2016 Economic Times Startup Awards,
And the NSE Retail Broker of the Year in 2018. Recently, Zerodha has won Startup of the Year at the 2020 Economic Times Startup Awards.
Zerodha Trading Tools
Kite Web Trading Platform
Kite Web is a trading platform that can be used on desktops, tablets as well as on mobile web browsers. It shows market watch and extensive technical charting along with indicators.
It also offers advanced order types like Brackets and Cover orders for trading at BSE, NSE, and MCX.
Kite Mobile Trading Application
Kite application is available on both Android and iOS platforms. Customers can trade through their mobile phones and also track stocks and commodity markets on the Indian stock exchange. It has live streaming data from BSE, NSE, and MCX.
Coin
Zerodha has a platform known as Coin, in which you buy mutual funds online, completely commission-free, and directly from Asset Management Companies (AMCs).
You get Mutual Funds directly in your Demat Account, and this makes it very user-friendly.
Console
It is the dashboard of your Demat account that provides complete information about your holdings, and tax-ready reports necessary for filing income tax returns. Console facilitates applying for IPOs using a Zerodha account.
Varsity Mobile
A free mobile application providing online as well as offline educational content for traders and investors. You can set your daily goals and gauge your knowledge by appearing for tests.
Sentinel
Do you wish to sell a share as soon as it reaches Rs 100? Sentinel will monitor the stock for you and will send an alert even if you are away, and that too for free.
You can set simple or complicated parameters to provide an alert for not only stocks, but for commodities, bonds, and derivatives as well.
Steps to open Zerodha account
Given below are the steps to follow to open your Zerodha account online -
- Visit the Zerodha website.
- Click on the Sign up Now button.
- Enter your mobile number and click on Continue.
- Enter the 6-digit OTP received on your mobile number. Click on Confirm.
- Verify your email id by entering 6 digits OTP received on your email id.
- Enter your PAN No. and Date of Birth. Click on accept and Continue.
- Pay the account opening fees using UPI or through Net banking.
- Sign in to your Digilocker account to share your Aadhar details with Zerodha.
- Allow Zerodha to access your Aadhar details.
- Enter your bank account details and background information.
- Read all the instructions and tick all the checkboxes and Continue.
- Write the displayed OTP on a piece of paper and hold it in front of a camera to complete the online In-Person verification (IPV).
- Upload all the required documents like PAN, Aadhar card, canceled cheque, signature photo proof, and Income proof (mandatory only for derivatives trading)
- Complete E-sign with Aadhar.
- Verify your Email ID by entering your security code.
- Review the account opening form and click on Sign Now.
- Enter your Aadhar No. and the OTP and click on Submit to complete the online account opening process.
Given below are the steps to follow to open your Zerodha account offline -
For the ones who are not able to open an account online, Zerodha also kept an offline account opening option open. The charges for offline account opening are as follows:
- Rs. 400 – for Trading & Demat Account
- Rs. 600 – for Trading, Demat & Commodity account
Under this approach, the application form can be downloaded from the website. Once done, print out the form, fill it up, and sign it. Post that, you have to courier the application form to the Zerodha head office address:
153/154 4th Cross Dollars Colony,
Opp. Clarence Public School,
J.P Nagar 4th Phase, Bangalore – 560078
To ensure the utmost customer service, Zerodha also provides another offline option wherein you can schedule a meeting with a Zerodha representative by calling up the account opening helpline (080 4913 2020)
Or by placing a request with the sales manager assigned to you. The sales representative will arrive at your residence, at the date and time pre-decided by you.
Please ensure to keep all the documents ready as the representative will ask for necessary signatures and self-attested documents/attachments as required to complete the account opening procedure.
Documents required for Zerodha account opening
- Photocopy of PAN card.
- Aadhaar card
- The mobile number linked to your Aadhar (You will receive OTP on this number)
Note - If the number linked to your Aadhaar is not in use, or if you don't have any number linked, you need to visit your nearest Aadhaar, Seva Kendra, to get your number updated/linked. - Bank Proof: Cancelled cheque/Bank statement/Passbook front page(Anyone of them) to link with your bank account.
Note - The bank proof you provide should include your name, bank logo/sign/stamp, account number, IFSC, and MICR code. - Scanned copy of your signature.
- Income proof - Any one of the following Form-16, Income Tax Return Acknowledgment, 6-month Bank statement, Latest salary slip, or Networth certificate from a CA.
Zerodha IDFC FIRST Bank 3-in-1 Account
The IDFC FIRST Zerodha 3-in-1 Account (Savings + Trading Account + Demat Account) is a joint offering by IDFC FIRST Bank and Zerodha - India's largest broker.
It integrates your trading account with your bank account for seamless, real-time, and one-click free transfers. With this Zerodha IDFC FIRST account, you can trade in equity, currency, commodities, etc., all from one account.
Steps to open IDFC FIRST Zerodha 3-in-1 account
It's easy to open your Zerodha IDFC First Bank 3-in-1 Account. Follow the steps given below-
Step 1: Log in to your IDFC FIRST Bank account via net banking.
Step 2: Click on the Investment tab.
Step 3: Click on Trading and Demat.
Step 4: Start trading seamlessly!
Zerodha account opening time
Account opening at Zerodha is quick and hassle-free. It takes up to 24 working hours for your account to be opened once you have completed the online sign-up.
You will receive an email with your login credentials once it is ready, and you can start trading from the next working day.
Zerodha Account Opening Status
After receiving the signed account opening documents, Zerodha takes two business days to open the account. After the account is opened, the customer receives an email confirmation.
If you have not received a welcome email after two days, please contact the Zerodha support team, who will be able to update you on the status of your account.
Zerodha Account Opening Form PDF
Zerodha Account Opening Form PDF is available for download on its website. Here are the steps to download the Zerodha Account Opening Form PDF-
- Visit Zerodha's website at Zerodha.com.
- Click on 'Download & Resources' in the footer (bottom of the website)
- In the resources section, you have separate forms- One for trading in equity, futures, and options on NSE, BSE, and the other for Commodity trading. Download the specific form as per your trading preference
You can also fill out the online account opening application, print it, sign it, and courier it to Zerodha's Bangalore office.
Zerodha Account Opening Charges
The fees charged by Zerodha for account opening range between INR 200 and 400, depending on whether you choose to open an account online or offline. The Demat account AMC is Rs 300 per year.
Transaction | Charges |
Trading & Demat Account Opening | Rs 200 |
Trading Account AMC | Rs 0 |
Demat Account AMC | Rs 300 per year |
Zerodha Brokerage Charges 2020
Zerodha charges a flat brokerage of Rs 20 or 0.03% (whichever is lower) per executed order. It charges zero brokerage on equity delivery. The maximum brokerage chargeable per order is Rs 20.
Trading Segment | Brokerage Charges |
Equity Delivery | Rs 0 (Free) |
Equity Intraday | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
Equity Future | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
Equity Options | Flat Rs 20 per executed order (on Turnover) |
Currency Futures | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
Currency Options | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
Commodity | Flat Rs 20 or 0.03% (whichever is lower) per executed order |
Mutual Fund | Rs 0 (Free Unlimited Direct MF) |
Zerodha Equity Charges
No brokerage (Rs 0) is charged by Zerodha for equity delivery trades. For intraday trading, they charge flat Rs 20 per executed order or 0.03% (whichever is lower) on both sides.
Charge Type | Equity Delivery | Equity Intraday |
Brokerage | Rs 0 (No Brokerage) | Flat Rs 20 or 0.03% (whichever is lower) |
Securities Transaction Tax (STT) | 0.1% on both Buy and Sell | 0.025% on the Sell-Side |
Transaction / Turnover Charges | NSE: 0.00325% | BSE: 0.003% per trade (each side) | NSE: 0.00325% | BSE: 0.003% per trade (each side) |
Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
Stamp Charges | 0.015% (Rs 1500 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Zerodha F&O Charges
Zerodha F&O brokerage charge is flat at Rs 20 per executed order or 0.03% (whichever is lower). You also have to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
Charge Type | Equity Futures | Equity Options |
Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
Securities Transaction Tax (STT) | 0.01% on Sell Side | 0.05% on Sell Side(on Premium) |
Transaction / Turnover Charges | NSE: 0.0019% | BSE 0.003% (each side) | NSE 0.05% | BSE 0.003% (each side) (on premium) |
Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Zerodha Currency Charges
Zerodha currency brokerage charge is flat at Rs 20 per executed order or 0.03% (whichever is lower). In addition to brokerage, the customer has to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
Charge Type | Currency Futures | Currency Options |
Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
Securities Transaction Tax (STT) | No STT | No STT |
Transaction / Turnover Charges | NSE: 0.0009% | BSE: 0.00022% | NSE: 0.035% | BSE: 0.001% (on premium) |
Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
Stamp Charges | 0.0001% (Rs 10 per crore) on buy-side | 0.0001% (Rs 10 per crore) on buy-side |
Zerodha Commodities Charges
Zerodha commodity brokerage charge is flat at Rs 20 or 0.03% (whichever is lower) per executed order. Along with this, customers have to pay taxes like STT, Transaction Fee, GST, SEBI charges, and Stamp Duty.
Charge Type | Commodity Futures | Commodity Options |
Brokerage | Flat Rs 20 or 0.03% (whichever is lower) | Flat Rs 20 or 0.03% (whichever is lower) |
Securities Transaction Tax (STT) | 0.01% on sell-side (Non-Agri) | 0.05% on sell-side |
Transaction / Turnover Charges | Group A: Exchange transaction charge: 0.0026% Group B: Exchange transaction charge: Pepper - 0.00005%, Castorseed - 0.0005%, Rbdpmolein - 0.001% | Rs 0 |
Goods and Services Tax (GST) | 18% on (Brokerage + Transaction Charge) | 18% on (Brokerage + Transaction Charge) |
SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
Stamp Charges | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
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 is 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 transaction charges.
SEBI Charges: This is charged at Rs 10 per Crore. - Stamp Duty: Eq Delivery - 0.015% (buy-side), Eq Intraday - 0.03% (buy-side)
Conclusion
Zerodha is the biggest stockbroker in India, with the highest number of customers and a high rating of 4.5 out of 5. It is ideal for traders and investors looking to save on brokerage charges with simple-to-use trading platforms.
Zerodha has invested heavily in educating the users about stock markets. For beginners and seasoned investors/traders, Zerodha Varsity, Zerodha support portal, Zerodha Q&A, and Z-connect are good options to learn and-
Explore the platform better. Hence, one won't regret opening an account on Zerodha. Why wait? Avail the lowest brokerage charges in the industry and other benefits, and grow your money with Zerodha.
I hope you liked our article on Zerodha Review, if you have any comments or suggestions do share them in the comments below.
Frequently Asked Questions
1. How to open a Demat and trading account with Zerodha?
- Visit the Zerodha website, click on the Sign up Now button, and enter your mobile number.
- Enter the OTP and click on Confirm.
- Enter your PAN No. and Date of Birth. Click on accept and Continue.
- Pay the account opening fees.
- Sign in to your Digilocker account to share your Aadhar details with Zerodha.
- Enter your bank account details and background information.
- Read all the instructions and tick all the checkboxes and Continue.
- Write the displayed OTP on a piece of paper and hold it in front of a camera to complete the online In-Person verification (IPV).
- Upload all the required documents and complete the E-sign with Aadhar.
- Review the account opening form and click on Sign Now.
- Enter your Aadhar No. and the OTP and click on Submit to complete the online account opening process.
2. Is Zerodha a genuine stockbroker?
Zerodha is a legitimate stock brokerage service in the country. It is registered with SEBI, CDSL, and all of India's major stock markets. Zerodha, like other popular brokers, is governed by SEBI and RBI laws.
It is a legitimate broker with a track record of over 10 years in the industry.
3. How to open a Zerodha account offline?
One can also open a Zerodha account offline by sending the application form via courier to the registered office or by scheduling a meeting with a customer care representative.
The representative shall then visit your residence to complete the account opening process.
4. Is Zerodha good for Mutual Funds?
Zerodha is indeed the best broker in India for Mutual Fund investment. Following are the reasons:
- Coin, the Mutual Fund investment platform of Zerodha, offers the best app/website.
- Zerodha offers a Direct Mutual Fund, which results in an extra saving of over 2% per year.
- Mutual Fund investment with Zerodha is free. No brokerage, no upfront or trail commission from fund managers, no software uses charges, and no other hidden fees.
- Free money transfer to Zerodha using UPI.
- Systematic Investment Plans (SIP) are available to all customers. Invest lump sum or use SIP.
5. What is an account opening charge in Zerodha?
You have to pay online account opening charges while opening the account. The account opening fees charged by Zerodha is as follows:
Zerodha Account Opening Charges
Account | Fees |
Online Trading and Demat Account | Rs 200 |
Offline Trading and Demat Account (Paper Form) | Rs 400 |
Online Trading, Demat, and Commodity | Rs 300 |
Offline Trading, Demat, and Commodity (Paper Form) | Rs 600 |
