Zerodha Brokers Review

Zerodha introduces Kite connect built on top of the exchange-approved web-based trading platform, KITE. Kite connect is a set of HTTP APIs, that enables its customers or clients to have access to data such as profile, funds information, order history, live quotes and much more. Moreover, it provides ease to customers in placing their orders and managing their portfolio on their own.

Overall Summary

LIKES

  •  Zerodha charges Rs.0 for equity delivery trades and Rs.20 or 0.1%, whichever is lower per executed order.
  • Trading, analysis, and charting tools are provided by Zerodha on platforms Pi, Desktop, Web and Mobile trading platforms.
  • More innovative tools are also provided such as SPAN calculators, Bracket orders and Trailing Stop loss, Market Intel, Option strategy and more.
  •  No upfront fee or turnover fee charged. Also, no stock brokerage or any minimum contract charges.

DISLIKES

  • Call & trade is not free, an additional Rs.20/executive order is charged.
  • Margin funding is not provided.
  • Do not provide expected customer services.

COMMISSIONS AND FEES

ZERODHA ACCOUNT OPENING CHARGES

In order to open an account with Zerodha, you will be required to pay account opening charges and annual maintenance charges (AMC)

ZERODHA BROKERAGE CHARGES

While trading or buying and selling stocks through Zerodha, customers or traders need to pay a commission or brokerage. Hence, brokerage charges of Zerodha are as follows.

ZERODHA TRANSACTION CHARGES

ZERODHA MARGIN

RESEARCH

Zerodha is an Indian financial service company that provides retail and institutional broking, trading of currencies and commodities, investment in mutual funds and bonds. Zerodha is known for its technology, innovations and discount pricing. Zerodha currently is a member of NSE, BSE, MCX, and MCX-SX. Zerodha started its operations on 15 th August 2010 with the aim of providing technological, innovative, cost-effective and easier ways to investors and traders to help them succeed and achieve their financial objectives. Today, Zerodha is known as India’s No.1 Stock Broker because of its technology and convenient pricing models.It is India’s biggest stockbroker because of the active retail clients and also, biggest by the trading volumes, making to the top on Indian stock exchanges. Zerodha provides trading services to buy and sell stocks in, futures and options (equity, currency and commodity segments). Moreover, zerodha has provided its own trading platform, Kite and a back office software called ‘Q’. All trading platforms of zerodha like trading terminal, website, and mobile trading are accessible to its customers for free of cost. 

Zerodha offers an easy and simple to understand brokerage structure to its customers. Customers who have switched to zerodha claim to save 80-90% in brokerage when compared to full-service brokers. Zerodha has proven to be the most technologically advanced and cheapest stock broker in India, being suitable for every investor, be it an investor who trades only once a month or someone who carries a number of trades in a day. Zerodha has a base of over 1 million customers who place numerous orders per day on our unique and reliable investment platforms, contributing to more than 10% of the Indian retail sales. 

Zerodha provides you with an active community through our question and answer platform where you can ask and receive answers to all your questions regarding trading, investments and stock markets on TradingQnA.com. As a discount broker, zerodha does not possess an in house research team but to compensate, it has introduced an open trade where users can connect and learn from the experience of heavy traders. To add, clients are supposed to perform their own analysis and research to trade or invest in the stock market since like every other discount broker, zerodha, too does not provide, research, tips, recommendations and expert advice to its clients.

CUSTOMER SERVICE

Pertaining to customer service and care, zerodha provides the following communication channels through which customers can

Contact:

  • Email
  • Phone
  • Online support portal
  • Branches

The customer service provided by zerodha is said to be just average. The customers have faced problems in trading platforms when their order did not execute on time or was facing any other problem, they could not find assistance at that particular time.

Zerodha Contact Details

Phone:+91- 080 4040 2020, +91-080 3310 2020
Email: complaints@zerodha.com

To increase the customer service and assist its customers at right time, zerodha has introduced a web support portal. On this portal, you are allowed to create a ticket concerning your problem.

The portal usually provides solutions to the most raised problems and concerns, however, if you do not get a solution with the concerns mentioned, you can create a ticket on your problem.

You will be required to provide the following details when raising a ticket:

  • Issue type
  • Client ID
  • Email
  • Subject
  • Issue details
  • Documents, if any

The turnaround time for the solution depends on problem type and severity.

PLATFORMS AND TOOLS

ZERODHA TRADING PLATFORM

Kite 3.0

With advancements in technology and innovations, Zerodha brings Kite 3.0, a sleek investment and trading platform built to compete for technology and modern times. Experience investing in stock markets the easier way with innovation that is capable of providing excellent usability.

Universal Search

Explore through 90,000+ stocks and F & O contracts across multiple exchanges with just a click. Come across your favourite stocks, bonds, metals, or derivatives and much more in a quicker and easier way with zero latency.

Explore through 90,000+ stocks and F & O contracts across multiple exchanges with just a click. Come across your favourite stocks, bonds, metals, or derivatives and much more in a quicker and easier way with zero latency.

Sleek User Interface

Buying, selling, analysing and regulating your portfolio, all of that made easier with a sleek and carefully created UI. Navigate the app seamlessly with intuitively designed keyboard shortcuts.

Real-time widgets

Now, it’s time to keep your trading edge sharp with dynamic data widgets that offer you live ticks, quotes, order alerts and numerous other.

Advanced Charting

Get hundreds of indicators, studies, and tools on a powerful and customizable charting interface. Also, offers you extensive historical data for stock and F&O contracts.

Unlimited Extensibility

Have an experience of a complete ecosystem on Kite. Get your hands on innovative investment apps that integrate seamlessly into your trading process. Not only this, Even build your own applications through Kite Connect APIs.

A Wide Range Of Data Points

Zerodha kite provides a wide range of data points, thus making it easier for people who perform technical analysis and fundamental analysis on stock prior to making trades.

Multiple Order Types

Users get the option to place different orders as trade product options such as cash n carry (CNC), margin intraday square off (MIS) and more are offered by the platform. Additionally, there are several order types such as market order, stop-loss order etc.

Integration

In-built integration allowed with Zerodha built analytical tool, Quant, which thereby allows users to take on fundamental analysis through behavioral analytics.

Additional Utilities

Additional utilities on Zerodha Kite, that is can be used within the app as well, are:

  • Zerodha brokerage calculator
  • Zerodha margin calculator
  • Zconnect
  • Quant
  • Pulse.

How to use Zerodha Kite

  • Once you open an account with zerodha, you will receive a few emails by zerodha. One email will provide you the login information to Zerodha Q, a reporting tool by zerodha. Another email will provide your login details for Zerodha kite with a one-time password that can be changed after logging in.
  • After logging in, zerodha kite will provide you with an application tour, making you aware of how the application works.
  • Afterward, you are allowed to customize your application regarding profile picture, password and other related details
  • You are allowed to transfer funds from and into zerodha trading account in an easy and straight-forward way. In case of transferring money into your trading account, an option is available where you can choose from given 20 banks to move money.
  • You are allowed to transfer funds from and into zerodha trading account in an easy and straight-forward way. In case of transferring money into your trading account, an option is available where you can choose from given 20 banks to move money.
  • In the case of withdrawals, T+2 days are taken for the settlement to take place, that is, if you have sold stocks, they will be shown in your trading account in the next 2 days. Whereas, it takes 1 day for future and option trading.
  • With zerodha kite, you can place multiple orders such as stop- loss order, limit order, normal order etc. Moreover, it makes an order placing process easier while using a floating window.
  • There is a view portfolio feature in which you can go through all your stock positions or holdings as well as net profit or loss corresponding to your trades.
  • Also, you can look through the fundamentals of the company while looking at data from market-watch and holdings, with a single window provided by Stock widget feature.

Zerodha Kite Advantages

  • Works properly even at low internet bandwidth.
  • Permits multiple integrations with third-party tools such as quant, varsity and more.
  • Provides alerts and notifications in order to keep you updated about any every news related to the application.
  • It is also available in form of chrome extension where you can get access to specific features such as order placements, stock trading and more.

KITE MOBILE

Now access Kite on any of your Android and iOS device through Kite mobile. The first step is to download this app from the App store and install it on your smartphone. This app tends to be one of the lightest apps with a size of 10.6 MB. Once the app has been downloaded, users need to enter their credentials to log into the app. The broker provides you with all the credentials once he activates your account.

Features

The app offers a very easy and simple user interface in order to add different scrips in a market-watch list.

Various types of charts are available, providing options to choose the time range and frequency. You can go through with technical and fundamental analysis with the help of these charts,

Making your process easier. Some of the charts are:

  • Candlestick
  • Bars
  • Colored bars
  • Line
  • Hollow candles
  • Users have this option of adding different technical indicators out of total of 100 types for technical analysis, include:
  • Alligator
  • Moving Average
  • MACDDarvas Box
  • Funds transfer and management facility provided by this app in mobile itself along with different modes of fund transfer.
  • Drawing tools available
  • Portfolio section shows the current position of stock and respective profits.
  • Notifications and alert option based on set preferences. Also, get notified whenever a stock price goes beyond a specific level.
  • This app has been made to be used on low internet bandwidth.
  • It can place option order, positional order, cover order, stock loss market order and more from a single screen.

KITE CONNECT API
Zerodha introduces Kite connect built on top of the exchange- approved web-based trading platform, KITE. Kite connect is a set of HTTP APIs, that enables its customers or clients to have access to data such as profile, funds information, order history, live quotes and much more. Moreover, it provides ease to customers in placing their orders and managing their portfolio on their own. Clients of zerodha have access to the only mode of investment platform that we at zerodha provide. Also, clients do not require to stick to a platform they are not comfortable with, with the help of programmatic access.

Programmatic access ensures that users are never locked out of their own data and exercise full ownership and control on their own data. In addition, all data of the clients are concentrated in our ecosystem and clients are required to manually replicate their position data on an ongoing basis. Traders or investors will be required to create their own developer login, pay the fees and agree to the terms and conditions and then can begin to access KITE connect.

Console

Console is a complete trade and reporting dashboard. Developer console for KITE connect is developed for the users to track and monitor their own programmatic API access.

Coin

One can invest in mutual funds through 2 options, either through a distributor or by investing directly from AMC. If mutual funds bought through a distributor, distributors tend to earn upfront and trail commissions on your investments. They earn up to 1.5% upfront commission on the investment made and trail commission of up to 1.5% each year, till you continue to invest in those.

Direct

Purchasing mutual funds directly pertains to investing with the fund house directly without the involvement of the distributor as an intermediary. This comes to savings on your investment by eliminating upfront and trail commission. In order to invest directly, you can visit the fund house’s office or website, fill up the form and invest in the fund. However, even today 90% of the investors invest through distributors due to lack of awareness or a reliable direct platform.

Introducing A Direct Platform- Coin

Zerodha coin is the platform through which one can invest directly in Mutual funds in DEMAT form like one invest in equity, currency or other segments. Zerodha coin facilitates buying of mutual funds directly online through zerodha portal. Moreover, no brokerage is charged by Zerodha coin. It also provides some high performing mutual funds with return percentages and investment period through the portal. The platform is accessible through the web in the web version. Also, zerodha coin mobile app is also available which can be downloaded through Google play store.

  • Through coin, you get access to no commission zone. That is, no commissions are charged, either upfront or trail, on your investments.
  • Direct mutual funds in DEMAT form, with the convenience of one portfolio across equity, MF, currency, etc.
  • Get your hands on Single capital gain statement, P & L visualizations, and much more.
  • Easy SIP – start, stop, and modify anytime you want.
  • As done with stocks, you can place orders to purchase or redeem funds based on NAV, including NAV tracking orders.

Zerodha Coin Charges

 Since August 2018, this app has become FREE OF COST for every user. The earlier charges are discussed below: While subscribing to Zerodha Coin, you are not required to pay any commission relating to the monetary value of your mutual fund investment. Only Rs.50 needs to be paid per month regardless of the investment value, that is, if you are investing for Rs.10000, 20000 or 10 lakhs, you are anyway required to pay only rs.50 per month. However, the first investments of Rs.25000 charge no subscription or fee and are absolutely free of cost. The moment your cumulative investment (interest earned) goes beyond Rs.25000, then Rs.50 per month fee will begin.

Zerodha Coin Advantages

  • Users can stop, edit or start mutual funds’ investments anytime according to their preference through Zerodha coin.
  • One consolidate portfolio is provided for all investment segments.

ZERODHA PI

Zerodha Pi is a high-performance software that provides tips from expert advisors, making it a reliable option for intra-day traders. In the initial years of the launch, zerodha Pi witnessed a lot of updates and each update brought new features, innovations, and advancements in the platform.

Zerodha Pi Features

With zerodha Pi, you can invest in different indices such as BSE, NSE, MCX, NCDEX etc. It holds many features such as:

Advance charting facility that provides usage of 50000 candles in one chart along with an option where you can change the timeline from minute, hour and daily options as well as one year.

  • Customers can use 10 types of different charts, 30+ drawingtools with 80+ indicators to carry on detailed technical analysis.
  • To help you in your analysis, there is an option to look for intra- day data for the last 365 days and historical data for the last 5 years.
  • One can place their orders directly from the charts.
  • Back test strategies option to help traders improve their strategies and look out for errors in technical and fundamental analysis.
  • Zerodha Pi provides a market watch feature that permits its users to add up to 250 scrips.
  • Third party integration is possible with platforms based on strategy such as Metatrader, amibroker and more.
  • Real-time trade signals from an automated back end engine also provided.
  • The application also offers algo-trading and AI-based optimization tools, making it beneficial for expert traders.

Zerodha Pi can be downloaded through Zerodha’s website by the Q tool.

Zerodha Pi Charges

Only clients and customers of Zerodha are entitled to use this terminal based trading application and for the clients, this application is free of cost.

ZERODHA PI ADVANTAGES

  • Simple and easy fund transfer process with the introduction of 3-in-1 account.
  • It provides quantitative tools that are beneficial for intraday traders who seek high performance, tips, and high usability.
  • Numerous features for every kind of trader, a beginner or even an expert.

EDUCATION

ZERODHA VARSITY

Zerodha varsity is an online education portal provided by Zerodha to help individuals acquire deep knowledge of stock markets. It is free of cost and accessible to any individual. The set contains 10 chapters on different topics that all have many topics within the chapters. Individuals who are beginners or have limited understanding can take advantage of Varsity and come out with deeper insights into the stock market. This is easily accessible by the mobile device as well.

Module 1

This module focuses on the basics of the stock market and how to invest. Some of the topics covered in this module are regulators, stock market index, IPO markets and more. This module primarily focuses on beginners and helps them to gain basic fundamentals about the stock market. It talks about how the Indian stock market actually works.

Module 2

Technical analysis 

Individuals or traders who are interested in intra-day trading can look for a thorough understanding of technical analysis. It involves topics like indicators, charts, support, and resistance etc. This module is beneficial for traders who seek short term investments and are willing to learn technical analysis to pick the best stock and make profits. There is complete information about different tools and mechanisms that help in technical analysis and hence, traders can gain expertise in the same.

Module 3

Fundamental analysis

Fundamental analysis helps investors in long term investment, hence investors seeking long term investment can grab this opportunity to learn fundamental analysis thoroughly. The topics included are, how to read balance sheets, cash flow statements, financial ratios and more. This module will help investors to learn tips in performing fundamental analysis.

Module 4

Futures Trading 

This module can help individuals who are willing to trade at the derivatives level. Along with the basics, this module focuses on different intricacies of derivative trading at the futures segment level, making investors completely thorough with the topic and providing a fundamental understanding of the concept. Advance level concepts are discussed in this as well. The topics included are a futures contract, leverage exposure, margin calculation etc.

Module 5

Option trading 

Individuals willing to trade in the options segment can go through this module to get a deeper understanding of the concept. Various tips and tricks are provided for this trading such as call options basic, bull call spread, bull put spread and much more. This is basically an intermediate module for professional level traders to help them understand different option theories.

Module 6

Option strategies

This particular module focuses on strategies for trading in the options segment. Traders can enhance their skills while learning tricks and strategies for trading in option segments. This module covers put ratio spreads, long straddle, short straddle and more.

Module 7

Markets and Taxation

 Investors or traders who earn in the stock market are required to take care of taxes applied to their profits earned. This module can help them by discussing what type and how much tax is needed to be deposited, based on the volume of trade. Taxation for investors, taxation for traders, ITR forms are some of the concepts discusses in this module.

Module 8

Currency and commodity futures

Trading at commodity and currency levels require a deeper understanding as there are different currencies and commodities in stock market trading. Hence, individuals trading in this segment may get confused but can go through this module to clear their basic and gain an understanding of this concept. This module along with providing information on different commodities talks about risks and returns associated with them as well.

Module 9

Risk management and Trading psychology

This module discusses some advanced concepts pertaining to stock market trading along with providing insight into facts and intricacies about trading and investing. It talks about risks associated and dis- associated with stock market trading. Some topics are the equity curve, expected returns, and portfolio optimization.

Module 10

Trading systems

This module talks about some of the trading systems. Some of the topics covered are:

  • What to expect from trading systems?
  • Pair trading basics
  • Linear regression

ZERODHA VARSITY ADVANTAGES

  • It is free of cost and user are not required to open a trading or demat account to get access to zerodha varsity.
  • Every module is made interesting to learn by providing real-life examples, hence making it easier for even beginners to learn.

DISADVANTAGES

  • There is no video content to make understanding easier, individuals have to learn through textual content only.
     

FINAL THOUGHTS

ZERODHA is now among the top growing stock brokers in India, being the one introducing the concept of the discount broker in India. Zerodha has led to various improvements and advancements in stockbroking in India.

Zerodha has been able to gather up high client base every year due to its best pricing, customer education, trading platforms, and many other commendable features.

However, the customer service and margins are few areas where Zerodha needs to work harder at the moment.