ZERODHA REVIEW (UNBIASED)
I myself hold a demat account with Zerodha, hence sharing my honest unbiased Zerodha review. Before going to review let’s understand what are types of stock brokers in India
A financial institution that facilitates the trade of securities between the buyer and seller is a brokerage firm or brokers. For this service, they charge a commission for it. There are two types of stock brokers in India:
Full-Service Stock Broker
Full-service stockbroker will charge you a bit more for extra services they provide like research analysis reports, SMS alerts etc.
Discount brokers offer you a platform for performing trades via automated, computerized trading systems. They just cut down services and make stock trading more affordable to you. Other than this there is no difference, both full-service stockbroker and discount stock brokers are registered with SEBI and both are governed by same laws.
Zerodha is one of the leading discount brokers in India due to its large trading volume, the number of customers and growth. It was founded by Nitin Kamath, a professional trader in August 2010. Zerodha is first online broker of India with 5 Lakhs + customers as on date.
Zerodha allows you to buy and sell stocks, futures, and options such as Equity, Currency and Commodity.
The trading platforms provided by Zerodha are:
- Zerodha Trader and Install-able application.
- Kite Web and Mobile Application (Online)
- Offline (Call and trade with a charge of Rs. 20 per call)
- Coin (For Mutual Funds)
The share trading platform(KITE) has unique features such as Rich dashboards, Technical charts, SUPPORT platforms for ease of clients.
Below are the innovative tools Zerodha provides you for technical analysis and decision making.
- Reporting tool ‘Q’ : It provides information on trades, positions, capital management and tax ready P&L statements.
- Quant: It is a sabermetric tool which gives you statistical information based on your trading style.
- Blogs: Three blogs are available to connect with community namely Z-Connect, Trading Q&A, and Pulse
- Brokerage and Margin calculator is available online on website
- Zerodha PI: Innovative tool which provides full customized 50,000+ chart for analysis
Personal Experience: Too Many Charts Tends To Confuse You. You should be technically strong to Analyse-it.
- Equity Intraday 0.01% or Rs. 20 per trade whichever is lower.
- Equity Future 0.01% or Rs. 20 per trade whichever is lower.
- Equity Options 0.01% or Rs. 20 per trade whichever is lower (on Turnover).
- Currency Futures Trading: 0.01% or Rs 20 per trade whichever is lower
- Currency Options Trading: 0.01% or Rs 20 per trade whichever is lower
- Commodity Trading: 0.01% or Rs 20 per trade whichever is lower
PRO TIP: If you are an intraday trader Zerodha Will be very costly for you as it charges Rs 20/- for each transaction.
Contract hard copies will cost you Rs.20 with extra courier charges e-contract notes are sent free through email. For delivery based equity selling, DP charges are Rs. 8 per transaction. Standard NSE charges, transaction charges, and statutory levies are charged.
Zerodha Charges Rs 50/- For any change in account details like Mail ID, Mobile number Etc.
Zerodha is not for online traders if they
- Want to invest in IPO
- Active day trader as per transaction will cost you Rs 20/-
- Want 3-in-1 account for hassle-free money transfers
- Instant money transfers, It takes approx 2-3 working days for money to transferred back to your bank account
Zerodha is for online traders who
- Are Passive traders means buy shares for long term.
- Has a good knowledge of the Internet and is proficient in using web applications.
- Who has technical knowledge and charts provided on the website for analysis.
Zerodha Fund Transfer
You can transfer your funds to your trading accounts through following methods.
- Zerodha Trader – Funds can be transferred from the linked bank account through Zerodha Trader. It will cost you Rs 9/-
- Zerodha Back office – Funds will be transferred through Zerodha Backoffice. It will cost you Rs 9/-
- NEFT/RTGS – Funds can be transferred via NEFT / RTGS and it’s totally free.
- Cheque Deposit – You can deposit a cheque in bank account details provided by Zerodha and you are required to send the scanned copy of cheque to Zerodha for proof.
Request for withdrawal is carried out through the Zerodha Back office. You can withdraw funds which is totally free of cost and are processed by RTGS / NEFT.
How To Open Trading Account?
You can open an account within 5 mins if you have Aadhar card verified mobile no. Just fill all details online and do online KYC though Aadhar card. You will receive OTP for verification.
The List of documents required to open account manually are:
- Aadhar card, PAN card, 3 passport size photos, 1 Cheque for fees and 1 cancelled check to register your account with demat account.
You need to fill all forms along with cheques and courier it to Bangalore head office.
My account got activated in 1 day and received Login credentials on second day. I could transfer money and buy shares, but I couldn’t sell them as for selling your needs to be activated which is done after your documents reach Bangalore.
This is very crucial for any service provider. I tried to call regarding few queries and was answered immediately. The support person provided his mobile no for contacting him anytime, this was special.
Tough their support team is not that big, but support is superior compared to others.
In my Zerodha review, I have tried to cover all important aspects. I personally found it very handy to open account and do first transaction. The support is also topnotch from support team. Looking all features its best discount broker for you, if you are not a active trader.
Let me your Zerodha review in comments below.