Zerodha Review

zerodha trading account reviews

Zerodha Review 2018

Zerodha Review 2018, here, is intended to discuss about the Zerodha brokerage and other traits associated with it. Let us start with basic introduction, Zerodha is an Indian stock broker(member of NSE, BSE, MCX, and MCX-SX) that allows flat-fee equity investments and trading in currencies and commodities market. The Zerodha review of the year 2010, had notified the discount pricing version and revolutionary approach of Zerodha. The stock broking company is headquartered in Bangalore and has the physical presence in many Indian cities like Hyderabad, Pune, Ahmadabad, Chennai, Vijayawada, Hubli, Salem, Coimbatore, Kanyakumari, and Kochi etc. Being the member of NSE’s consultative committee for developing the enterprise, it has been well known for low brokerage rate i.e. Rs 20 per executed order.

 

review of zerodha

Account Opening Procedure of Zerodha

To Open the New Account in Zerodha, Following Documents are required 

  1. Address proof of client (PAN Card)
  2. Passport size photograph of client
  3. 2 cheques – one canceled cheque and other cheques filled with account opening fees.

Account Opening

 

Demat Account Opening: If you want to open a Demat account with them, you can do that. There’s a Demat account opening charge of Rs.200. In case you are a dealer (F&O), you don’t need a Demat account however in case you plan to do transport primarily based trading you’ll need a Demat account. You need a Demat Account only to trade in delivery based equity trading. The shares will be displayed in your Demat Account on T+2 day. If you are trading in F & O whether you’re an Intraday trader or a positional trader, you don’t need a trading account. AMC is Rs 300.

Trading+ Demat Account – So if you want to open the Demat + Trading account, the charge here is Rs. 300. If you want to open commodity account additionally, the additional fee for this is Rs. 200. The stock broker  offers an online trading account to trade in stocks, derivatives, indices, and currencies on NSE and BSE. Trading can be done through a web based platform or a mobile app and Call & Trade option. All settlements on a Trading Account takes place on T+1 day. There are no Annual Maintenance charges (AMC) for Trading Account.

Commodity Account Opening: The charges for opening commodity account are an additional Rs. 200. There are no Annual Maintenance charges for Commodity Account opened in Zerodha. There is no need for a Demat Account for trading Commodities. The Account opening charges for commodity trading is Rs 300. Commodity Options are still not commenced in India.

Zerodha Brokerage Charges

Equity Delivery0.10% of turnover or Rs. 20 per trade whichever is lower
Equity Intraday0.01% of turnover or Rs. 20 per trade whichever is lower
Equity Future0.01% of turnover or Rs. 20 per trade whichever is lower
Equity Options0.01% of turnover or Rs. 20 per trade whichever is lower
Currency Futures0.01% of turnover or Rs. 20 per trade whichever is lower
Currency Options0.01% of turnover or Rs. 20 per trade whichever is lower
Commodity0.01% of turnover or Rs. 20 per trade whichever is lower

The brokerage fees can be only Rs.20 per trade

Other Hidden Charges related to Zerodha

STT (Security Transaction Tax): This is charged simplest on the sell side for intraday and F&O trades. It’s far charged on both aspects for delivery trades in equity.

Stamp Duty for every state in India: Charged at .01% or Rs. 50 per contract but however will depend on which state you are from.

Transaction fee: In very small and is within the range of .00325% for delivery based totally, .0021% for futures and .053% for options.

Service tax: That is charged at 14% of the whole fee of brokerage plus transaction prices. So this could vary as the transaction fee varies based on the price of change.

SEBI expenses: that is charged at Rs 20 per crore.

Trading Platform & Mobile Apps 

zerodha broker review

Zerodha Review also highlights Trading Platforms List:

  • Zerodha Trader (Desktop application) Platform
  • Web (html5) called Z5 Trading Platform
  • Mobile Trading Platform
  • Offline Trading Platform (Call and trade with a cost of Rs. 20/call)
  • Plug-in provided with AmiBroker

Customer Support Services

Zerodha has a consumer base of more than 200,000 customers and handles common each day turnovers of around 10,000 – 12000 crores in equities and Rs. 1000 crores in commodities. The corporation offers commodities trading thru its fully owned subsidiary, Zerodha Commodities Private Limited. It has gained the “Economics time’s startup awards 2016” in the “bootstrap champ” class. Nithin Kamath, the founder, and CEO gained the 2013 Confederation of Indian industry rising entrepreneur award for pioneering the discount broker version in India. The corporation additionally gained the BSE-D&B “rising fairness broking house award” in 2014 and 2015 respectively. It is the best online source of free online trading in India.

Compilation of the Zerodha’s offerings:

  • It Charges Rs 20 per executed order for trading in F&O, stocks, commodity, and currency.
  • It supports desktop based, web-based and mobile based trading platform in India.
  • For Demat account and nominee declaration, you will have to sign few forms and submit them via courier.
  • It has emerged as a pioneer in offering NRI trading services.
  • It has introduced its new multi-language, a low bandwidth web-based trading platform which is named as Zerodha KITE.
  • You can take advantage of 60-day challenge offered by Zerodha, where you can uprise your trade graph, otherwise, brokerage refund option is available.
  • Zerodha PI is the highly technical trading platform commenced by the firm.
  • In equity delivery, It offers trading which is free of charge.
  • SPAN Calculator, Option Strategy, algoZ, Market Monitor are the advanced tools extended by Zerodha.
  • It has put forward Less brokerage and low upfront fee with no contract charges.
  • It has its own DP Service.
  • In Zerodha Coin, you can invest in mutual funds, recently launched feature of Zerodha.
  • It has emerged as a pioneer in offering NRI trading services.

 

 Zerodha Review considering other facts

  • The motivational strategy like “60-days challenge” makes it eminent in its field.
  • Minimal transaction charges and lowest brokerage plan.
  • User-friendly trading platform and margin calculators.

 The review discusses Zerodha’s concerns here:

  • Doesn’t have monthly plans.
  • It doesn’t provide the feature to invest in IPO.
  • Its customer care service is average.

Some other Charges associated with the broker:

  • 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.
  • Payment gateway charges for more than 22 banks – Rs 9 per fund transfer.
  • Rs 20/- per call is charged for Call and Trade facility.
  • Optional Trade SMS alert feature which costs Rs 1 for Equity, Currency trade, F&O and Rs 0.50 for Commodity trade alerts.
  • .NSE charges involved.
  • Transaction charges and statutory levies are charged.

Zerodha and its Challenges

As we know, Zerodha has established itself as a popular stockbroker in terms of brokerage rates, trading guidance to its clients or trading platform etc, but there are few issues related to it, which limit its horizon. For example, No monthly plans that are profitable for heavy traders, No 3-in-1 trading account option is available, No exposure value against shares. Being a discount broker, it has gained its pace from the very beginning. It has a team of highly professional people, who work day and night to take it to the top level by enhancing promotions through social media etc. But later on, its clients face many challenges. Today many people are praising it for its technology platform. But, according to a recent survey, we have found that, Although as per Zerodha Review, the stockbroker is fine in terms of brokerage still its clients are facing some problems. This is akin to its paying request, if you make a payout request today, then forget that u will get that on next day only. Zerodha’s site displays 3-4 hours delay but it’s not like that. It delays even for a day or two. Similarly, in terms of margin, it was found that they are giving nearly 5 times intraday leverage on all NSE stocks and in FNO stocks segment they provide 10 times. Clients have enjoyed such margin but suddenly they found that it has started to ask for full margin in Z stocks. When its customer support was contacted for the advantage being served earlier for the same script leverage, the fact was denied from their side. After posting the issue on Zerodha thread, some of the clients got the answer about stopping the same facility as clients were misusing it. This type of sudden notification waste so much time in the process of trade pursued by some novice traders. It throws negative effect on their side.

  1. It is the pioneer in bringing the chain marketing concept in broking.
  2. It has commenced the referral system, where alluring benefits are mentioned, so as to elongate the horizon of its brokerage firm. When this system was introduced by Zerodha, many people like bloggers, traders, newsletters etc have appreciated the move and promoted the concept in the best way they could. But later on, when everything took place according to the planned strategy and when it became eminent among other stock brokers, it has disappointed the same mob by implementing unexpected terms and conditions.
  3. The other thing which has contributed to its full-fledged growth is software. The tools introduced by this broker, in recent years are described below:

 

Zerodha Review telling you about PI

Let’s have look at, what Zerodha PI holds:

  1. It is featured with all-time market watch provision.
  2. Top level charting with 70 plus technical indicator.
  3. Order execution takes place so quickly.
  4. You will get notifications and alerts time to time.
  5. Code advanced strategies with a simple and powerful scripting language.
  6. Use the free historical data to backtest your strategies, and you can even semi-automate them.
  7. Floating index feature.
  8. It has highly advanced pattern recognition method, where you can draw a pattern and allow PI to find a chart accordingly.

PI Bridge

By using various programs, you can pave your way to trading.

What are the functionalities available in Pi Bridge?

Place Orders

Requests:

  • Request Pending Orders
  • Request Admin Positions
  • Request Completed Orders/Trades
  • Request Funds Available
  • Request Equity Holdings

Pi bridge will be useful only to those who have the idea of programming. It will be more effective for those who have a programming background. You can resolve your query related to the bridge via Tradelab.

Zerodha Kite

Zerodha has forged ahead a new web-based flexible, integrated HTML 5 trading platform, named as KITE. With Zerodha Kite, you can accelerate trading on mobiles, tablets and web browsers. Zerodha Kite is aimed at placing the order in no time. It is available in 10 languages. These features make it quite noticeable among some of the leading tools offered by Zerodha.

Some of the key features of Zerodha KITE are given below:

  1. Live streaming quotes.
  2. It has simple buy and sells panels.
  3. Live ticking charts.
  4. Market depth data delivered with HTML5 Web Sockets for tracking different financial instruments.
  5. With the use of only one search box, you can search for various market segments and exchanges.
  6. Charts variety includes Candlesticks, bars, baseline data, Line etc.
  7. From total 80 indicators of Zerodha kite application, some features are Darvas Box, Moving Average, stochastics, MACD etc.

Zerodha’s horizon

Earlier, offline trading was carried out in India, where trader had to go to broker’s place and exchange required documents manually. This process was quite a time taking and not that much profitable. After that, when the technology was upraised, the trend of online trading came into existence. It is a fast way of trading and preferred by numerous traders. With the latest trading platforms introduced by such stock broking houses, intraday trading became popular and moved few steps ahead of delivery trading.

 While selecting any stockbroker, consider the commissions and other pricing that broking firm charges. That can now be easily calculated through Zerodha Brokerage Calculator. Akin to this fact, In case of eminent broker like it, you should first understand the services offered and how true they are. You can check the same with points mentioned in this Zerodha Review 2018. Various brokerage houses have at least two plans. One is basically for intra-day traders and the other for long-term investors. Zerodha is also called as a budget broker.

  • Keep a Check on Minimum Trades

3 in 1 accounts are available with a savings account. In such an instance, some banks do have rules and regulations about certain maintenance balance.

  • Research Reports

Most of the full-service brokerage firms like Zerodha, also cater research services. This allows investors to go through the analysts’ reports on sectors and companies of interest or have a look at data on companies. Just find out in case you need such services, as these might help you make good choices on buying and selling the shares and mutual funds.

 

Overall rating of Zerodha

Rating as per following traits:
Brokerage7
Trading Software9
Mobile App9
Safety of funds6
Safety of funds10
Customer Support7
Overall rating points8
Overall rank3

 

Comparison of Zerodha with some other eminent stock brokers in India

Zerodha vs RKSV                                           Zerodha vs ICICI Direct

Wisdom Capital vs Zerodha                       Trade Smart Online vs Zerodha 

Zerodha vs Sharekhan                                  Zerodha vs Motilal Oswal

Angel Broking vs Zerodha                           Ventura Securities vs Zerodha

Zerodha vs Astha Trade                                Zerodha vs Vikson

 

Zerodha Pros:

Several Benefits of Choosing it as a broker:

  • It charges a fixed rate of Rs 20/executed order for buying and selling in stocks, F&O, currency, and commodity.
  • One can calculate exact brokerage through Zerodha Brokerage Calculator.
  • Zerodha PI, the maximum develop buying and selling platform brought by means of Zerodha.
  • Zerodha KITE is a lightweight, low bandwidth, multi-language net base trading platform.
  • Supports laptop base, internet-based and mobile base buying and selling platform.
  • 60-day challenge contest by means of Zerodha in which you alternate profitably and get full brokerage refund.
  • Progressive and specific trading tools – SPAN calculator, algos, options strategy, marketplace display and so forth.
  • No advance fee, no minimal brokerage and no minimum contract costs.
  • Free buying and selling in the equity delivery.
  • Own DP provider.
  • Invest in mutual funds.

zerodha account reviews

Zerodha Cons:

Disadvantages of Zerodha Brokerage firm are as follows:-

  • Worst customer Services.
  • Trading Terminal Pie hangs very frequently.
  • High Brokerage.
  • Low Intraday Exposures or Leverages.

Alternatives to Zerodha:

  1. Upstox, as both are offering similar brokerage rate.
  2. Wisdom Capital
  3. SAMCO

 

Questionnaire

  1. Which trading platform or trading software is used frequently by Zerodha?

           NEST, KITE, PI

  1. Does the broker offer 24×7 customer service?

          No; Zerodha doesn’t provide all time support services.

  1. What is the Intraday Square-off Time for Intraday Trading in Equity segment at Zerodha?

          3:10 PM

  1. Does the broker offer customer service through local branch offices?

          No

  1. Does it provide customer support through live chat on a website?

           No; Zerodha doesn’t provide this type of customer support.

  1. Does this stock broker have a toll free phone number for support?

           No; Zerodha doesn’t provide the same.

  1. Is Zerodha Kite is efficient for Android users also?

          Yes, with the 3G connection, dashboard and all worked well.

  1. Is it working properly, when the market is volatile?

No, it doesn’t work properly when the market is volatile, and after that when customer support team is contacted, they don’t pick up the phone, making it a bad experience.

  1. How much does Zerodha charge for Demat Account opening?

         Rs 100

  1. What is Zerodha brokerage rate in Equity Delivery Trading?

          There is no brokerage charge associated with Zerodha’s equity delivery trading.

  1. What are Zerodha Currency Derivatives (Future) Brokerage Charges?

           Rs 20 per trader

  1. Does Zerodha offer Currency Derivative Trade service?

          Yes, currency derivative segment is available.

  1. What is the bandwidth required for Zerodha Trading Terminal?

          The trading terminal provided by Zerodha requires nearly 512 Kbps internet connection for fine performance.           

    14.If online fund transfer fails due to internet disconnect, is there any charges involved after that?

No, It doesn’t charge any amount, if fund transfer fails due to some reason.

     

43 thoughts on “Zerodha Review

  1. I am not satisfied with the Zerodha’s services. As it has denied later about what it has stated earlier regarding some plans. I have selected this broker on my friend’s advice but disappointed in some aspects.

  2. Wisdom Capital is providing 10 times more margin in the option than Zerodha. I am regular customer of Wisdom Capital and in my opinion Zerodha’s service is not that good.

  3. Wisdom Capital has made my trading voyage much more easy with its efficient and user-friendly trading platform. The wide range of technical features exist in its trading applications. Its mobile app Trade Eye has contributed a lot in making my trading flexible on the go. I have read Zerodha Review there is no extra service provided that beats Wisdom Capital.

  4. “What a favorable plans for brokerage Wisdom Capital offers”. I am glad to trade with this discount broker as it provides best trading account in India as per my perception and experience.

  5. My experience with zerodha is so bad. They provide wrong prices of shares and their customer service is the worst one.

  6. Still I didn’t use Zerodha services and not know about Zerodha review, but my some friends say its good. You should try it.

  7. I know Zerodha has nice trading platform Although this Zerodha review has discussed few issues but the Zerodha review doesn’t tell some of the major issues concerned…

  8. Zerodha was good an year ago but now it is one of the worst broker in discount brokers list.
    Cons:
    Hidden charges
    Worst Zerodha portal and always wrong P/L Sheet, Holdings Value and Fund Balance.
    Worst Customer service.

  9. When I saw this website having awesome quality YouTube video tutorials, I decided to watch out these all video tutorials.

  10. If you are looking for the best zerodha account opening in India, then there is none other than Zerodha.This is India’s first zerodha brokerage company in India which has touched approximately 2 lakh customers. The major reason behind the success of india. if you need Zerodha Account Opening Form so now visit our website and take form to zerodha demo trading.

  11. Zerodha is the best trading platform in India and they provide kite app and give the best user interface . This is my personal experience

  12. The Zerodha review mentioned above has given various plus points of Zerodha but the challenges given are limited. I had been the client of Zerodha, and was fine with my trading in beginning, but soon I came to know the contradictory changes in its pre-mentioned schemes. That has disappointed me. I am not saying that Zerodha review given above is not clear enough but, the review is lacking some other concerns that clients are facing. That, if they would have given too, the broker might correct such things. That would be helpful to trader like us.

  13. Dear customer if you want information of account opening with zerodha so you can follows this method to full information, Zerodha is one of the best discount broker in India.Checkout Zerodha review at this trading platform you can open a zerodha demat account at zerodha online account opening. It hardly takes 30 min to complete your demat and trading account procedures and your account will be opened within a day. This is a good option to save time and if local Zerodha representative is not available in your area.

  14. They will guide you in best way about investment and profits in trading. If you want to open best demat account so you can directly visit at our website for open demat account and you can chack zerodha review. They have not any hidden charge we are take only legal charge.

  15. Hi,
    I have been with Trade plus online for 2 years and their offerings are similar to zerodha’s.Their call and trade services are great.Also, they offer direct mutual fund called INFINI MF which is great for investors

  16. Demat account is offers secure and easy way to manage your investments online. Learn more about how to open demat account, its benefits and much more information about best Demat account. Zerodha account opening is now Simplified, The client can open an account at his/her option without bearing any cost at the time of account opening.

  17. Trading platform is the only highlight as per zerdha review but what about the other trade requirements. I had been recommended this broker by one of my friends. Soon i joined and found that leverage plans are not satisfying my trade needs. Again i founded desktop offering of trading platform does not has unique feature. Pledge and unplugged of shares error caused due to technical glitch where money is debited from yours bank accounts but not credit in trade accounts instantly that created a mental pressure where the transaction took place properly or not. Zerodha review should also mention such issues so that these problems can be avoided

  18. The data in the Zerodha review mentioned is fine but you guys havn’t mentioned some troubles we have faced. Everytime when the market encounter choppy mode while trends fluctuate. Zerodha goes in sudden agony. I was told that my sqareoff will take place at 3 PM instead of regular sqaureoff time of 3:20 PM. I took it smoothly. I thought no need to worry as I was dealing in CNC . Before 3 PM I had put up a purchase bid in a share in delivery. At about 3:22 I tried to modify it, while thinking market closes at 3:30 PM. I had about 8 minutes to change the bid. But again and again Zerodha failed to let me modify the bid. I tried many times times but everytime it result was same. If they are not allowing someone to even modify a bid placed in delivery mode after 3:20 PM is really a matter of bad programming. But, it was really disappointing and troublesome. I think such issues too should be mentioned in Zerodha review, so that traders can know it better.

  19. I am trading through Zerodha, but very disappointed with unexpected hung up during peak market hours. As a result I suffered losses. Some challenges mentioned in this Zerodha review are quite similar to mine. I am in dilemma if I should close my account in Zerodha and start trading with some other relevant broker. Can any one help me regarding this matter?

  20. The Zerodha review is good, includes all details. I am thankful to the site to present the review of Zerodha in a comprehensive way. Good help to the trader like me. I find this Zerodha Review easier, when I compare it with other reviews of Zerodha talked online.

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