Robert J. Williams
Reviewed by:
Sikirty Chatterjee
USP: Regulated by SEBI | Zero Brokerage on Equity Delivery | Powerful Kite Platform
Founded in 2010, Zerodha is headquartered in Bengaluru, India, and is widely regarded as India’s largest retail stockbroker by active client base. It disrupted the traditional brokerage model with its flat fee pricing and has become a pioneer in discount broking in India. The firm serves millions of clients trading across equity, commodity, and mutual fund segments.
🏦 Headquarters: Bengaluru, India
📅 Founded: 2010
📜 Regulation: SEBI (INZ000031633), CDSL/NSDL, MCX
🏦 Supported Countries: Not specified on the website
💻 Platforms: Kite, Console, Coin, Kite Connect
💵 Min Deposit: Free account opening
Zerodha was launched with a mission to reduce costs for Indian traders and investors. Over time, it scaled rapidly due to its transparent, tech-first approach and the growing appetite for self-directed investing. Today, Zerodha is recognized for its robust platforms (like Kite), India’s largest free stock market education initiative (Varsity), and its vibrant investor community (TradingQ&A). Zerodha continues to lead innovation in direct investing, maintaining a strong regulatory footing under SEBI and membership in NSE, BSE, and MCX.
Upstox: Also ₹20 per trade but charges on equity delivery; Zerodha is ₹0 delivery.
Angel One: Offers advisory and ARQ robo-recommendations; Zerodha focuses purely on DIY.
5paisa: Similar flat fee but adds membership plans for reduced costs; Zerodha remains simpler.
ICICI Direct / HDFC Securities: Charge high percentage commissions but include banking tie-ins and advisory, unlike Zerodha’s low-cost, self-directed model.
Zerodha is strongly regulated under Indian securities laws, falling under the Tier-1 category in its home jurisdiction. This ensures compliance with SEBI’s stringent investor protection, capital adequacy, and audit rules — critical for client trust.
SEBI (India) – INZ000031633 (Broking)
CDSL/NSDL – IN-DP-431-2019 (Depository)
MCX – 46025; Commodity SEBI – INZ000038238
Client Fund Protection: Client securities held in CDSL/NSDL demat accounts, segregated from broker assets as mandated by SEBI.
Compensation Schemes: Not specified on the website (no mention of investor compensation funds beyond SEBI’s default mechanisms).
Negative Balance Protection: Not specified on the website.
Data Security & Encryption: Not detailed on the website, though standard SEBI cyber norms apply; Kite employs secure sessions and OTP-based transactions.
✅ Instruments: Stocks, Derivatives, Mutual Funds, ETFs, Bonds
✅ Spreads: Not specified on the website (fixed brokerage model)
✅ Commission: ₹0 for equity delivery & direct mutual funds; ₹20 flat for intraday & F&O
✅ Leverage: Not specified on the website (varies by exchange norms)
Instruments: Zerodha clients can trade equity on NSE/BSE, futures & options on indices and stocks, commodities on MCX, plus invest directly in mutual funds, ETFs, and listed bonds.
Spreads: As an exchange-based broker, Zerodha does not markup spreads. You pay true market bid/ask prices with no dealer desk intervention.
Commissions: Its key USP is the flat ₹20 per executed order for intraday and derivatives, regardless of trade size, and ₹0 on equity delivery and mutual funds.
Leverage: While intraday leverage is possible under margin funding (MTF), exact ratios or stop-out levels are not detailed publicly. Margins follow exchange-prescribed VAR + ELM norms.
✔ Kite: Ultra-fast web & mobile trading with advanced charts, multiple market watchlists, GTT (Good Till Triggered) orders.
✔ Console: Zerodha’s backoffice for trade reports, P&L, tax-ready statements.
✔ Coin: Invest in direct mutual funds delivered to your Demat.
✔ Kite Connect: REST APIs for algo developers to build custom strategies and dashboards.
Advanced Charting: 100+ indicators, multiple timeframes, and drawing tools right inside Kite.
GTT Orders: Allows you to set triggers for future market moves, effectively like an advanced conditional order.
Portfolio Analytics: Console provides insights into your trades, capital gains, and performance over time.
API Access: Developers can automate strategies with robust documentation, reducing manual trading errors.
Brokerage / Margin / SIP calculators.
Economic calendar.
Varsity for structured learning from basics to advanced technicals.
TradingQ&A for community-driven market sentiment.
(Most tools are proprietary and native to Zerodha’s ecosystem.)
| Account Types | Min Deposit | Spread | Commission | Platforms |
|---|---|---|---|---|
| Demat / Trading Account | ₹0 (Free opening) | Market bid/ask (no markup) | ₹0 delivery, ₹20 intraday/F&O | Kite, Console, Coin |
| Minor Demat | ₹0 | Market bid/ask | Same as above | Kite, Console, Coin |
| NRI Account | ₹0 (extra NRI docs) | Market bid/ask | Same as above | Kite, Console, Coin |
| Commodity Account | ₹0 | Market bid/ask | Same as above | Kite, Console |
Demo Account: Try Kite demo on web before opening.
Islamic (Swap-Free) Accounts: Not specified on the website.
VIP / Premium Accounts: Not offered; Zerodha maintains same pricing for all.
Managed Accounts: Not offered; pure self-directed platform.
Bank Transfer (NEFT/RTGS/IMPS/UPI): Standard funding from Indian banks.
Margin Funding (MTF): To increase buying power under exchange guidelines.
Bank Withdrawals: Funds withdrawn to linked bank account.
(Detailed processing time & fees not specified on the website.)
Processing Time: Not specified on the website.
Deposit Fees: ₹0; free account opening, free delivery, free direct MF.
Withdrawal Fees: Not specified; typically nil beyond standard bank charges.
Minimum / Maximum Limits: Not specified on the website.
Visit Zerodha official website
Click on “Open an account” and fill in your personal details.
Verify your mobile number and email.
Upload KYC documents (PAN, Aadhaar, address proof).
Link your bank account and eSign.
Fund your account via UPI, IMPS, or margin facility.
Log in to Kite on web or mobile.
Create market watchlists and analyze charts.
Place buy/sell orders, set GTT triggers, manage stop-loss.
Monitor your portfolio and download reports from Console.
Summary: Zerodha makes the account opening and trading process streamlined, fully online, with no paperwork or branch visits. Even beginners can easily navigate Kite, use Varsity for learning, and gradually expand to futures/options or commodities.
📧 Email: complaints@zerodha.com, dp@zerodha.com
🖥️ Dedicated support portal (ticket-based).
⏰ Not specified on the website (generally responsive during NSE/BSE trading hours on weekdays).
🌐 Multilingual support: Not specified on the website.
🧑💼 Dedicated account managers for VIPs: Not offered.
⚡ Typical response: Most issues resolved within a day via tickets, but exact satisfaction metrics not published.
“Ideal for Indian investors seeking ultra-low costs, clean DIY platforms, and educational support to build long-term portfolios.”
You need international stocks, forex or commodities outside MCX.
You want personal advisory, robo-managed portfolios, or dedicated relationship managers.
You expect margin/stop-loss levels and leverage details explicitly published on-site.
Zerodha stands out as India’s largest discount broker, with a stellar reputation for low costs and excellent proprietary platforms. Its zero delivery brokerage, flat ₹20 intraday model, and robust educational ecosystem (Varsity, TradingQ&A) make it an unmatched choice for self-driven traders. If you’re comfortable managing your own trades without advisory, Zerodha offers an unbeatable mix of cost savings, regulatory safety, and platform reliability.
2025 BROKERINSPECT
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