(Last Updated On: August 23, 2017)

Zerodha is one of the best discount broker in India. In this post, we have tried to build an exclusive Zerodha review based on the ease of account opening, brokerage charges and margin available.

Zerodha pioneered the discount broking space and has continued to disrupt the market with its innovative low cost product for retail investors. It is the only discount broker offering equity delivery at zero brokerage with an intent to encourage more of retail investors to participate in the equity market.

Lets get started and have a look at the various salient features of the Zerodha trading platform.

Zerodha Account Opening Process

Opening a Zerodha trading account is a piece of cake. Let us learn how…Here are the steps to go about opening a demat and trading account with Zerodha.

  1. Just head over to Zerodha Account Opening Page and start opening your Zerodha account. If you have certain doubts, you can also request a callback and the sales executive will call you to clear your doubts. As simple as that. You will need to have your photographs, ID proof and PAN card handy to either upload or send the documents alongside the filled form.
  2. We tried out the callback feature of Zerodha to check out their responsiveness and were surprised to receive a callback within few hours of registering a callback. Their support is just top notch.
  3. If you decide to continue opening an account online itself, Zerodha will ask you certain information.
  4. Next step is to print the form and send it to Zerodha. You also have the facility for Zerodha to pickup the form but that will cost 100 Rs extra. We recommend to use the pickup facility because Demat and trading account is a big form to fill and if a person comes to pickup, he can help you fill that form up.
  5. You might need additional documents like salary statement, Form 16 etc if you wish to trade in equity derivatives and want Zerodha to allow access to derivative segment.
  6. You can also reduce all the above said process to paperless if you have an Aadhar card. Demat and trading account opening can be done digitally and seamlessly.

Account opening is charged at Rs 500 at Zerodha, Rs.300 is the demat annual maintenance fees. If you opt for Zerodha Form pickup facility, then you will be charged Rs 600.

Its as simple as that, the Zerodha accounting opening process is just so easy.

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Zerodha Trading Segments

Zerodha allows trading into a lot segments. The segments include Equity(Interday, F&O, Delivery), Trading commodities on MCX, Currency Derivative trading.

Zerodha Brokerage Charges

Zerodha is one of the first free flat brokerage player in the market. They were one of the few to change the tide from full service brokers to discount brokers. In trading, you get some other charges as well like STT etc. when you trade, we try to bring you all the charges you will get when you setup a trade on Zerodha.

Apply Here for Zerodha Account

Here is the list of charges by Zerodha over various segments:

 BrokerageSTTTransaction ChargesGSTSEBI ChargesStamp Duty
Equity Delivery00.1% on buy & sellNSE: 0.00325%
BSE: ₹ 1.50 each on buy trade & sell trade
18% on (brokerage + transaction charges)₹15 / croreState Dependant
Equity Intraday0.01% or Rs. 20/executed order whichever is lower0.025% on the sell sideNSE: 0.00325%
BSE: ₹ 1.50 each on buy trade & sell trade
18% on (brokerage + transaction charges)₹15 / croreState Dependant
Equity Futures0.01% or Rs. 20/executed order whichever is lower0.01% on sell sideNSE: 0.0021%
BSE: ₹ 1.50 each on buy trade & sell trad
18% on (brokerage + transaction charges)₹15 / croreState Dependant
Equity OptionsFlat Rs. 20 per executed order0.05% on sell side (on premium)NSE: 0.053%
BSE: ₹ 1.50 each on buy trade & sell trade
18% on (brokerage + transaction charges)₹15 / croreState Dependant
Currency Futures0.01% or Rs. 20/trade whichever is lowerNo STTNSE: 0.00135%18% on (brokerage + transaction charges)₹15 / croreState Dependant
Currency Options0.01% or Rs. 20/trade whichever is lowerNo STTNSE: 0.044%18% on (brokerage + transaction charges)₹15 / croreState Dependant
Commodity0.01% or Rs. 20/trade whichever is lower0.01% on sell side (Non-Agri)Non-Agri: 0.0036% | Agri: 0.00275%18% on (brokerage + transaction charges)₹15 / croreState Dependant

The table can be overwhelming to study and contemplate the costs incurred at the trade. For easy access as per your trade, you can checkout the Zerodha Brokerage Calculator here.

Zerodha Margin for Trading

Just like other offline or full service brokers, Zerodha also offers margins for trading. Margins vary from segment to segment and stock to stock i.e you may get more margin in a particular segment or a particular Stock. However, there is certainly an upper and lower limit to the margin that Zerodha will provide. Here is the amount of margin that you can expect in various kinds of Products:

  • Equity Delivery/CNC : None, you must have all the cash in your account to take delivery.
  • Equity Intraday: Zerodha provides 3x to 20x margin on Equity intraday trades depending upon the stock liquidity. You can check out the margins provided on stocks at Zerodha Site.
  • Equity MIS: Zerodha squares off all the MIS trades at the day end even if the user doesn’t. They provide 3x-10x margin for the MIS trade.
  • Equity Cover Orders : Cover orders are like MIS with a compulsory stop loss. Zerodha provides 6x-20x margin for the Equity CO.

Zerodha Futures Margin(Equity, Index), Commodity & Currency

Futures is a leveraged product by the exchange itself so buy a particular lot, you just need the margin amount in your account. This margin account is stipulated by exchange. This is called as NRML margin. Zerodha provides few options on top of that:

MIS Margins: 

  • Equity & Index Futures : 40% of NRML margin with square off at 320P
  • Commodity Futures : 50% of NRML margin with square off 25 minutes before market close
  • Currency Futures : 50% of NRML margin with square off at 430P

CO Margins

Since cover orders are necessarily with a stop loss. The margins required are usually lesser than the MIS Margins.

Zerodha Options Margin(Equity, Index) & Currency

Zerodha doesn’t provide margin on the options so the premium required for an option must be present in your account(NRML value). However you can get some margin for Option Writing/Shorting. Checkout the zerodha span calculator to calculate the amount that you will need as margin in your account.

You may also like : Best Discount Brokers in India !

Zerodha Platform for Trading

Zerodha has a robust platform for traders to place their trades. They provide multiple tools for the traders to execute and manage their trades. Here are the tools that they provide:

  • Zerodha Kite: An HTML5 web based tool to trade. It streams quotes, plots graphs and everything that you would expect a trading platform to do
  • Zerodha Kite Mobile : Basically a kite client for Android and iOS devices. Trade seemlessly from your mobile phone.
  • Kite Connect:  An API to develop the trading platforms on fly on top of Zerodha.
  • Zerodha Q : A Dashboard for all your reporting and backoffice activities.
  • Zerodha Open Trade : Its a great way to follow great traders and passively observe their strategies. It can be a great tool to learn trading
  • Zerodha PI: A desktop terminal to execute your trades.
  • Zerodha Smallcase: Checkout the fundamental and other data of the companies you are interested in with small case.

That looks so massive build up and handy tools at your service.All in all, a great toolset for a trader to trade on Zerodha.

Conclusion

There might be some technical glitches here and there at certain points of time while using this trading platform. However, we believe their team is really working upon to fix them and we are likely to see a magical customer experience in the coming days.

Overall, what we can say…Zerodha is a great platform to carry out your stock market trading. It provides a wonderful set of executional as well as informational tools for your trade setup. Get Setup with Zerodha now !!

Apply Here for Zerodha Account

Disclaimer : There is a high degree of risk involved in trading. Please follow due diligence before investing your money.The information on this website cannot be constituted as professional advice in any regard.

Was this Zerodha Review helpful ? With which trading platform, have you opened your Demat and Trading account ? We had a great experience using this trading platform ? What about you, did you have the same ? Do share your experiences and feedback on Zerodha or any of the discount brokers in India.

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