Zerodha Stock Broker Review
Wondering which stock broker to use for buying shares and mutual funds in a single platform? You are on right spot !!!🙂 This review will help you in choosing the best stock broker available in the market today.
Things to consider before choosing best stock broker
Every individual should consider these before choosing any online brokers.
- Brokerage Charges:- This is a type of fees that you pay for a broker when you buy/trade stocks. Its crucial for the user to choose a broker who offers very less broker charges. If you trade in huge quantity , then it is always better to choose a discount broker over a full service broker because discount broker offers less fees.
- Trading Platforms:- Well, who would want to choose a broker whose software services are bad. Literally no one! Right?? You must always ensure that the software or the mobile application of the broker is user friendly and most reliable for usage.
- Customer Services:- One of the most influencing factor on selecting a discount broker is its customer service response. All discount brokers offer customer services through online platforms with no face to face interaction.
- Customer Reviews:- Not all customers will be happy with the service that they get. If you have spare time, you can go through the reviews on Play Store /App Store and choose the right one.
Brief history of Zerodha
Zerodha is the largest discount broker company in India. It was founded in 2010 by Nikhil and Nithin Kamath. It has a strong user base of 5million as of 2021. You can read more about Zerodha in Wikipedia
Services offered by Zerodha
- Equity Trading:- You can buy and sell any stocks during market hours. i.e. 9.15AM to 3.30PM
- Derivatives Trading:- One can buy or sell Options and Futures for all applicable stocks.
- Commodity Trading:- You can buy or sell Options and Futures for various commodities like Gold,Silver,Copper etc.
- Mutual Funds:- A user can invest in Direct Mutual Funds through Zerodha’s app called COIN.
- Bonds:- Users can buy Government bonds using Zerodha’s Golden PI platform.
Brokerage Charges
Brokerage charges are the fees charged by broker in order to execute a trade or a transaction. Below are the list of charges collected by Zerodha
| Account Opening Charges | ₹ 300 – ₹200 for Equity and ₹100 for Commodity |
| Account Maintenance Charges | ₹300 per Annum |
| Equity Delivery Brokerage | ₹0 – You can buy any stocks without paying brokerage fee |
| Equity Intraday Brokerage | 0.03% on order value or ₹20, whichever is lower |
| Equity Futures Brokerage | 0.03% on order value or ₹20, whichever is lower |
| Equity Options Brokerage | ₹20 per order |
| Commodity Futures Brokerage | 0.03% on order value or ₹20, whichever is lower |
| Commodity Options Brokerage | 0.03% on order value or ₹20, whichever is lower |
When compared to other discount brokers , Zerodha offers lowest brokerage fee and hence can be considered as the best in market.
If you wish to Open Zerodha account, here is the link:- https://zerodha.com/open-account?c=TM9334
Pros and Cons of Zerodha
| PROS | CONS |
| Zerodha is one of the most reliable broker in India. | On very rare occasions , software glitches happen due to huge customer base. |
| Best discount brokerage rates. | Response from customer support can get delayed sometimes. |
| Offers wide variety of technical tools. | Research and reports will not be provided. |
| Provides free stock market and financial education for everyone with Varsity Mobile application. |
Conclusion
If you are willing to invest in stock market, buy shares and mutual funds , then you can definitely consider Zerodha as it is one of the best option. I have been using this from 3 years now and from my experience I will recommend Zerodha to everyone.
Note:- Zerodha Account can be opened here