Zerodha
#2
Ranked · India's Most Profitable Broker
Discount Broker · CDSL · NSE / BSE / MCX
~68.9L Active Clients · NSE March 2026
Zerodha
India's Most Profitable
Broker
Founded in 2010 by brothers Nithin & Nikhil Kamath — Zerodha pioneered discount broking in India. Bootstrapped, debt-free, and massively profitable with ₹4,237Cr net profit in FY25. Holds ₹22,679Cr in cash reserves. ~6.9M active clients as of March 2026 (15.08% NSE market share), #2 broker behind Groww, and India's most profitable brokerage.
📅 Founded 2010
🏙️ Bengaluru
💰 Bootstrapped
🏦 NSE · BSE · MCX
📈 15.08% Mkt Share
Zerodha
Zerodha Broking Ltd · Discount Broker
₹8,847Cr
FY25 Revenue
₹4,237Cr
FY25 Net Profit
₹0
Account Opening + Delivery
₹20
Max F&O Charge
Charges
4.6
Usability
4.4
Trading Tools
4.5
Cust. Service
3.6
Overall
4.6
Key Metrics
Zerodha by the Numbers
👥
~6.9M
Active Clients Mar 2026 (Apr data)
📊
15.08%
NSE Market Share
💰
₹8,847Cr
FY25 Revenue
🏆
₹4,237Cr
FY25 Net Profit
🌱
15 Yrs
In Business Since 2010
⚡
₹0
Equity Delivery Brokerage
💵
₹22,679Cr
Cash & Bank Reserves FY25
📈
15%
Daily Retail Exchange Volume
Company Financials
Financial Performance FY21–FY25
Zerodha is private — FY26 results expected ~Nov 2026. FY25 (latest filed): Revenue ₹8,847Cr (↓11.5%), PAT ₹4,237Cr (↓22.9%). Cash reserves ₹22,679Cr. EBITDA margin 63.78%.
FY21
₹2,729Cr
Revenue from Ops
Net Profit₹1,122Cr
Active Clients~3.5M
COVID BoomFY22
₹4,694Cr
Revenue from Ops
Net Profit₹2,094Cr
Active Clients~6.5M
+72% Rev GrowthFY23
₹6,875Cr
Revenue from Ops
Net Profit₹2,907Cr
Active Clients~7.0M
+46% RevenueFY24
₹9,993Cr
Revenue from Ops (consolidated)
Net Profit₹5,496Cr
Active Clients~7.5M
Best Year EverFY25
₹8,847Cr
Revenue from Ops (−11% YoY)
Net Profit₹4,237Cr
Active Clients~6.9M (Mar '26)
SEBI Impact📈 Revenue vs Net Profit (₹ Crore)
Revenue
Net Profit
Balance Sheet FY25
₹22,679Cr
Cash & Bank Reserves
63.78%
EBITDA Margin
32%
Return on Capital Employed
₹0
Long-term Debt (Bootstrapped)
Pricing
Brokerage Charges & Fees
Zerodha pioneered flat-fee discount broking in India. Equity delivery is completely free. Intraday and F&O trades are ₹20 or 0.03% (lower of two). Currency derivatives are available at ₹20 flat.
📊
₹0
Equity Delivery
Completely free — no brokerage on delivery trades
⚡
₹20
Equity Intraday
or 0.03% — whichever is lower
🔮
₹20
Futures & Options
Flat per executed order — both segments
🌾
₹20
Commodity (MCX)
or 0.03% — whichever is lower
💱
₹20
Currency Derivatives
NSE CDS — EURINR, USDINR, JPYINR, GBPINR
📂
₹0
Mutual Funds (Coin)
Direct plans via Coin app, zero commission
Account Charges
₹0
Account OpeningFree — online & offline both
₹300/yr
Demat AMC₹0 for BSDA ≤₹4L · ₹100/yr (₹4L–₹10L) · ₹300/yr above ₹10L
₹50
Auto Square-off₹50/order via dealer (same as Call & Trade)
₹50
Call & Trade₹50/order via dealer/phone support
Statutory & Other Charges
| Charge Type | Delivery | Intraday | Futures | Options | Commodity | Currency |
|---|---|---|---|---|---|---|
| Brokerage | ₹0 Free | ₹20 or 0.03% | ₹20 or 0.03% | ₹20 flat | ₹20 or 0.03% | ₹20 or 0.03% |
| STT / CTT | 0.1% (Buy & Sell) | 0.025% (Sell) | 0.05% (Sell) | 0.15% on premium (Sell) · 0.15% intrinsic on exercise | CTT 0.01% non-agri (Sell) · Options 0.05% (Sell) | No STT |
| Exchange Txn (NSE) | 0.00307% | 0.00307% | 0.00183% | 0.03553% (on premium) | MCX 0.0021% · NSE 0.0001% | Futures 0.00035% · Options 0.0311% |
| SEBI Charges | ₹10/Crore | ₹10/Crore | ₹10/Crore | ₹10/Crore | Agri ₹1/Cr · Non-agri ₹10/Cr | ₹10/Crore |
| Stamp Duty | 0.015% (Buy) | 0.003% (Buy) | 0.002% (Buy) | 0.003% (Buy) | 0.002% (Buy) | 0.0001% (Buy) |
| DP Charges (Sell only) | ₹15.34/scrip (CDSL ₹3.5 + Zerodha ₹9.5 + GST ₹2.34) · Female ₹15.09 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 |
| GST | 18% on brokerage + txn + SEBI | 18% | 18% | 18% | 18% | 18% |
| IPFT (NSE) | ₹0.01/Crore | ₹0.01/Crore | ₹0.01/Crore | ₹0.01/Crore (premium) | — | Futures ₹0.05/Lakh · Options ₹2/Lakh |
What You Can Invest In
Product Basket
Zerodha offers the most complete product basket among Indian discount brokers — all major asset classes on Kite, plus a growing ecosystem of allied products covering insurance (Ditto), fundamental research (Tijori), passive index investing (Zerodha Fund House), and curated portfolios (Smallcase).
📊
Equity (Stocks)
NSE & BSE listed stocks — ₹0 delivery, ₹20 intraday
✓ Available📉
Futures & Options
Equity F&O — flat ₹20/order via Kite + Sensibull analytics
✓ Available🌾
Commodity (MCX)
Gold, silver, crude oil, base metals — ₹20 or 0.03%
✓ Available💱
Currency Derivatives
USDINR, EURINR, GBPINR, JPYINR on NSE CDS — ₹20/order
✓ Available💹
Mutual Funds (Coin)
3,000+ direct plans, SIP & lumpsum — ₹0 commission
✓ Available🔷
ETFs
Index, sector, gold & silver ETFs on NSE & BSE via Kite
✓ Available🎫
IPO & SME IPO
Mainboard & SME IPOs via UPI/ASBA directly on Kite
✓ Available🪙
Gold (ETF & SGB)
GOLDCASE ETF + Sovereign Gold Bonds when windows open
✓ Available📜
Bonds & G-Secs
RBI bonds, T-Bills, G-Secs & corporate bonds via Kite/GoldenPi
✓ Available🧩
Smallcase
Thematic stock & ETF baskets by SEBI-registered managers
✓ Available🛡️
Insurance (via Ditto)
Term & health insurance — IRDAI-certified, no spam, free advisory
✓ Available🔬
Research (via Tijori)
Deep fundamental research, revenue breakups, AI filings — syncs with Kite portfolio
✓ Available🏛️
Zerodha Fund House
Passive-only AMC — Nifty 50, LargeMidcap 250, ELSS, Gold ETF, Silver ETF, Overnight Fund
✓ Available🧓
NPS (via PensionBox)
National Pension Scheme — Tier I & Tier II accounts, tax benefit u/s 80CCD. Rainmatter-backed PensionBox ($2M, Jan 2026)
✓ Available
✅ India's most complete broker ecosystem (14 products): Zerodha uniquely offers currency derivatives (not available on Groww), its own passive AMC (Zerodha Fund House), insurance advisory via Ditto (8L+ customers, 4.9★), NPS via PensionBox (Rainmatter $2M, 2026), and deep fundamental research via Tijori Finance (Rainmatter-backed, $5M raised Nov 2025) — all tightly integrated with Kite.
Account Types
Types of Demat Accounts on Zerodha
Zerodha supports 8 account types — individual, minor, HUF, joint, NRI, corporate, foreign national/OCI, and persons with disabilities. Online opening is ₹0 for individual, minor, joint, and disability accounts. NRI, corporate, HUF (offline), and OCI accounts have a ₹500 opening fee. Demat AMC: ₹300/yr for most accounts (₹0 for BSDA under ₹4L · ₹0 for minor · ₹500/yr for NRI · ₹1,000/yr for corporate).
✅ Supported by Zerodha
✅ Supported
Individual Account
Most Popular · Resident Indian · Free
Online (eKYC)
Standard demat + trading account for resident Indians aged 18+. Fully paperless Aadhaar eKYC via DigiLocker — activated in 24–72 hours. ₹0 account opening fee. Demat AMC: ₹300/yr + 18% GST (billed ₹75+GST quarterly). BSDA accounts with portfolio under ₹4L pay zero AMC.
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✓ Yes₹20 or 0.03%
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹0Opening Fee
₹300/yrDemat AMC
1–3 daysActivation
CDSLDepository
✅ Supported
HUF Account
Hindu Undivided Family · Online Free · Offline ₹500
Online (eKYC) — ₹0Offline — ₹500
For Hindu Undivided Families investing collectively with tax efficiency. Online opening is now free via signup.zerodha.com/huf using Karta's Aadhaar eKYC — activated in 24–48 hrs. Offline (₹500) required only if Karta's Aadhaar isn't linked to mobile, or Karta is an NRI. Requires HUF PAN. HUF gets its own ₹2.5L tax exemption (old regime) / ₹4L (new regime FY26) in addition to the Karta's personal limit.
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✓ Yes₹20 or 0.03%
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹0 / ₹500Online / Offline
₹300/yrDemat AMC
24–48 hrsActivation
₹2.5L / ₹4LTax Exemption
✅ Supported
Joint Account
Up to 3 Holders · Free Opening
Offline (Physical KYC)
Jointly held by up to 3 individuals — suitable for couples, families, or partners. The first holder controls and trades; joint holders have view-only access. Account type must be chosen at opening — individual accounts cannot be converted to joint later. Free account opening.
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✓ Yes₹20 or 0.03%
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹0Opening Fee
₹300/yrDemat AMC
3–5 DaysActivation
BSDA EligibleZero AMC option
✅ Supported
NRI Account (NRE / NRO)
Non-Resident Indian · PIS & Non-PIS Routes · ₹500
Online (if in India — Aadhaar eSign)Offline (if abroad — courier forms)
Opening fee ₹500 for both NRE and NRO accounts. NRE–PIS: funds from NRE bank, repatriable — equity delivery only; brokerage 0.5% or ₹200 (lower). NRO Non-PIS: funds from any NRO bank, no PIS letter needed — equity delivery + F&O + intraday (SEBI Jul 2025); brokerage ₹50 or 0.5% (lower). Commodity & currency not permitted for NRIs. AMC ₹500+GST/yr.
SegmentNRE–PISNRO Non-PIS
Equity Delivery✓ 0.5% / ₹200✓ 0.5% / ₹50
Equity Intraday✗ Not Allowed✓ 0.5% / ₹50
F&O✗ Not Allowed✓ ₹50/order
Commodity (MCX)✗ Not Allowed✗ Not Allowed
Currency Deriv.✗ Not Allowed✗ Not Allowed
Mutual Funds✓ Free✓ Free
₹500Opening Fee
₹500/yrDemat AMC
Up to 72 hrsActivation
CDSLDepository
✅ Supported
Corporate Account
Pvt Ltd · LLP · Partnership · Trust · Society
Offline Only — ₹500
For companies, LLPs, partnerships, trusts and societies. Enables F&O loss set-off against business income and simplified auditing. Docs required: Board Resolution, COI, MOA/AOA or Partnership Deed, KYC of all authorised signatories. Account opening: ₹500 (offline only — no online option). Corporate demat AMC: ₹250 + 18% GST per quarter (₹1,000 + GST/yr). Note: equity delivery brokerage is ₹20 or 0.1% (not free as for individuals).
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹20 or 0.1%
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✓ Yes₹20 or 0.03%
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹500Opening Fee
₹1,000+GST/yrDemat AMC
5–7 DaysActivation
CDSLDepository
🤝 Assisted Process
Persons with Disabilities
Assisted KYC · Dedicated Support · Free
Online (Assisted eKYC)Offline (Alternative KYC)
Zerodha provides specially-assisted account opening for persons with disabilities per SEBI accessibility guidelines. Alternative signature and biometric KYC routes are available. Contact via [email protected] or call 080-40402020. Free account opening — all charges same as standard individual account.
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✓ Yes₹20 or 0.03%
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹0Opening Fee
₹300/yrDemat AMC
BSDA EligibleZero AMC option
Email/CallInitiate Via
✅ Supported
Minor Account
Under 18 · Guardian-Operated · Online & Offline
Online (eKYC)Offline Available
Zerodha supports demat accounts for minors (under 18) operated by a natural guardian (parent) or court-appointed guardian. Minors are restricted to equity delivery and mutual funds only — no F&O, intraday, or MTF per SEBI rules. Account must be converted to a regular individual account when the minor turns 18. ₹0 opening fee, ₹0 AMC (no maintenance charges on minor accounts).
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✗ Not Allowed—
F&O✗ Not Allowed—
Commodity (MCX)✗ Not Allowed—
Currency Deriv.✗ Not Allowed—
Mutual Funds✓ Yes₹0 Free
₹0Opening Fee
₹0Demat AMC
Delivery+MFOnly Allowed
Convert @18At Majority
✅ Supported
Foreign National / OCI Account
Resident in India · OCI · PIO · Offline Process
Offline (Physical KYC)
Foreign nationals and OCI (Overseas Citizen of India) / PIO card holders residing in India can open a demat + trading account. Process is offline only — email soft copies to [email protected], then courier documents with a ₹500 cheque to Zerodha's Bengaluru office. Documents: passport, OCI/PIO card, Indian address proof, and PAN card. Eligible for equity delivery, F&O, and currency. AMC is at resident individual rates (₹300/yr). Non-resident foreign nationals (living outside India) cannot open this account type.
SegmentAllowedBrokerage
Equity Delivery✓ Yes₹0 Free
Equity Intraday✓ Yes₹20 or 0.03%
F&O✓ Yes₹20 flat
Commodity (MCX)✗ Not Allowed—
Currency Deriv.✓ Yes₹20 or 0.03%
Mutual Funds✓ Yes₹0 Free
₹500Opening Fee
₹300/yrDemat AMC
PassportKYC Doc
CDSLDepository
🚀 Individual Account Opening — 4 Simple Steps (₹0 Free)
🌐1
Visit zerodha.com
Sign up with mobile number + OTP
🪪2
Complete KYC
PAN + Aadhaar eKYC via DigiLocker
✅3
e-Sign & Submit
Digitally sign — ₹0 fee, no payment needed
📊4
Account Active
Activated in 1–3 days — trade on Kite
Platform Ecosystem
The Zerodha Universe 🌌
Zerodha + Rainmatter have built India's richest fintech ecosystem — from core trading to insurance, research, algo, retirement and wealth management.
Zerodha + Rainmatter Ecosystem
Rainmatter has deployed ₹2,000 Cr across fintech, health & climate startups — creating a seamlessly integrated wealth universe for ~6.9M Zerodha clients.
12+
Integrated Platforms
₹2,000Cr
Rainmatter Fund
50+
Portfolio Companies
~6.9M
Ecosystem Users
🏠 Zerodha Native Platforms — All Free
K
Zerodha Kite
✓ FREEIndia's #1 web & mobile trading platform — fast, lightweight and feature-rich. Terminal Mode launched and live for all users, Feb 2026.
⚡ Zerodha's flagship trading engine — powering ~6.9M active traders. Terminal Mode is now live for all users — fully customisable drag-and-drop workspaces, launched Feb 2026.
90K+Instruments
100+Indicators
11Languages
10Workspaces
🖥️ Multi-platform — Web, Android & iOS with identical feature parity
✅ Terminal Mode (Live · Feb 2026) — drag-and-drop panels, save up to 10 custom workspaces, integrated calculators, economic calendar & Pomodoro timer; TradingView charts built-in
📊 Advanced charting — 100+ indicators, drawing tools, multi-timeframe support
🛡️ GTT Orders — Good Till Triggered orders stay active without babysitting the market
🔗 Native integrations — Launch Sensibull, Streak & Smallcase with one click inside Kite
🌐 20-depth data — Full market depth visible for any instrument at no extra cost
🚨 WhatsApp Emergency Mode — backup trading via WhatsApp if Kite is inaccessible during market hours
🪙
Zerodha Coin
✓ FREEIndia's largest direct mutual fund platform with zero commission on all investments.
🪙 Save up to 1.5% per year in hidden commissions — invest directly, grow more. Microsavings launched Feb 2026.
7,000+Direct Schemes
₹0Commission
100%Demat-Based
SIP+STP+SWP
💰 Zero distributor trail — regular plan investors lose 0.5–1.5% TER annually; Coin users don't
🪙 Microsavings (Feb 2026) — new feature enabling small, recurring automated investments; ideal for disciplined saving habits
🏦 Demat-held units — pledge your MF units as collateral for F&O margins without selling
🔄 All SIP types — SIP, STP (Systematic Transfer), and SWP (Systematic Withdrawal) supported
📱 Clean mobile app — NAV tracking, portfolio view, and SIP management in a single tap
📈 Goal planning — set investment goals and track progress with automated projections
C
Zerodha Console
✓ FREEFull back-office & portfolio dashboard for P&L, tax reports and fund management.
📋 Your complete financial command centre — powered by AI from Tijori Finance.
SegmentP&L Tracking
ITRReady Reports
AIStock Insights
LiveTimeline
📑 Tax reports — download SEBI-compliant capital gains statements ready for direct ITR filing
🤖 Tijori-powered Timeline — real-time stock events: filings, results, AGMs, corporate actions
🔍 Stock Insights — Tijori AI shows revenue mix, peer benchmarks & forensic flags in your portfolio
💳 Fund management — add/withdraw funds, manage DP slips and ledger entries easily
📊 Unified view — see all equity, F&O, MF, and commodity holdings in a single dashboard
📚
Zerodha Varsity
✓ FREEIndia's best free stock market education — 15+ modules from basics to advanced F&O.
📚 India's richest free finance education — from zero to advanced F&O, all in one place.
15+Modules
2Languages
OfflineAccess
FreeCertificates
🏫 Complete curriculum — basics, technical analysis, fundamental analysis, F&O, commodities, personal finance
🌐 Hindi & English — fully localised content in both languages for wider accessibility
📲 Offline mode — download any module on the app, read without internet connectivity
🏆 Free certifications — earn module certificates to strengthen your finance credentials
🎯 Quizzes — chapter-end tests reinforce concepts and track learning progress
🔔
Sentinel Alerts
✓ FREESmart cloud-based market alerts for stocks, F&O & commodities — all segments.
🔔 Never miss a trade trigger again — powerful multi-leg alerts, cloud-synced 24/7.
50Free Alerts
MultiLeg Baskets
AllSegments
0Code Needed
🎯 Basket conditions — multi-leg logic where ALL criteria must fire together (great for F&O spreads)
📡 Cloud-based — alerts fire even when your browser or app is closed, 24/7 uptime
🔔 Triple notifications — push notification, email, and in-app alert simultaneously
📈 Any instrument — set alerts on stocks, index futures, options, commodities, or currencies
⚡ No coding — a clean visual builder lets you set complex conditions in under 60 seconds
Z
Zerodha Capital (MTF)
✓ INTEGRATEDRBI-licensed NBFC offering Margin Trading Facility against shares and MFs.
🏦 Amplify your equity portfolio — borrow against shares at competitive rates, inside Kite.
₹5,000CrLoan Target
3.2×FY25 Growth
RBINBFC Licensed
KiteIntegrated
💳 Margin Trading Facility — buy more shares than your cash balance by pledging existing holdings
🏛️ RBI-registered NBFC — Zerodha Capital operates as a licensed lending entity under RBI regulation
📋 Pledge MF units too — use mutual fund holdings (via Coin) as eligible collateral alongside equity
⚡ No extra paperwork — MTF can be enabled directly from within the Kite app in seconds
📦 Delivery trades only — MTF applies to equity delivery positions, not intraday or F&O orders
🤝 Official Partner Platforms — Kite Integrated
S
Sensibull
PartnerIndia's #1 options trading & strategy platform for F&O traders of all levels.
📈 Options made simple — visual payoffs, one-click execution, and AI-driven strategy ideas.
FreeBasic Plan
₹999Pro/Month
LiveGreeks
1-ClickKite Launch
🎨 Visual strategy builder — drag-and-drop legs, see payoff chart update live as you add strikes
📊 Live Greeks — Delta, Gamma, Theta, Vega tracked in real-time across your entire F&O portfolio
💡 AI strategy ideas — market outlook-based suggestions: bullish/bearish/neutral with risk/reward displayed
🚀 One-click execution — place entire multi-leg strategies to Kite in a single click, no manual entry
📉 Options scanner — screen for high-IV, low-cost, or high-OI options across all expiries simultaneously
⚡
Streak
PartnerNo-code algorithmic trading — build, backtest & automate strategies without writing a line of code.
⚡ Automate your edge — build rule-based strategies and let Streak fire orders 24/7 on Kite.
200+Conditions
10YrBacktest Data
AutoExecution
₹0Basic Plan
🔧 Visual builder — create entry/exit rules using 200+ technical indicators in an intuitive drag-and-drop UI
📅 10-year backtesting — test your strategy on historical data before risking real capital
🤖 Auto execution — strategies monitor markets and fire orders on Kite automatically
📲 Strategy marketplace — browse and deploy strategies shared by the Streak community
🔔 Alert mode — get notified when conditions trigger without auto-execution if you prefer manual control
sc
Smallcase
PartnerInvest in curated baskets of stocks & ETFs built by SEBI-registered investment managers.
🧺 Thematic investing made effortless — buy diversified stock baskets in one click from Kite.
500+Baskets
200+SEBI Managers
AutoRebalancing
₹100Mgmt Fee/yr
🎯 Theme investing — Electric Vehicles, Pharma, IT, Dividend Yield — 500+ ready-made baskets
🏛️ SEBI-regulated managers — Windmill Capital, Capitalmind, DSP, and 200+ registered advisors
🔄 Auto rebalancing alerts — get notified when a manager updates weights; apply in one click
🏦 You own the stocks — individual shares held in your Demat, not a fund or pooled vehicle
⚡ Kite native — buy an entire basket of stocks in a single order from within Kite
🌧️ Rainmatter Portfolio — Backed by Zerodha
TJ
Tijori Finance
Rainmatter · $5M (2025)AI-powered stock research platform — powers Zerodha Console's Insights & Timeline.
🔬 AI-powered research that goes 10x deeper than any free tool — built for serious investors.
15K+Paid Users
2 MinConcall Notes
$5MRainmatter 2025
ConsoleIntegrated
🎙️ Concall Monitor — earnings call transcripts and AI summaries delivered within 2 minutes of call end
🕸️ Supply chain maps — visualise revenue streams, raw material suppliers, and customer concentration
🔍 Forensic flags — automated red-flag detection for accounting irregularities and governance issues
📲 WhatsApp alerts — get instant stock news, results, and event alerts directly on WhatsApp
🔗 Zerodha login — sign in with your Kite credentials; 90% of subscribers discover Tijori via Console
Di
Ditto Insurance
Rainmatter BackedIndia's most transparent insurance advisory — no spam, no mis-selling, ever.
🛡️ Insurance the way it should be — honest advice, zero spam, salary-based advisors only.
₹0Consultation
ZeroSpam Calls
SalaryBased Advisors
Life+Health Cover
💼 Fixed salary advisors — no commissions, no targets — they only win when you make the right choice
🚫 Zero spam guarantee — one consultation, zero follow-up calls unless you ask for them
❤️ Life & health insurance — term plans and family health insurance explained and compared honestly
💻 Fully digital — consult via video call, chat, or WhatsApp from the comfort of your home
🔑 Zerodha access — log in via your Kite credentials for priority booking at joinditto.in
GP
GoldenPi — Bonds
Rainmatter BackedIndia's first online marketplace for government bonds, corporate bonds & NCDs.
💛 Fixed income, finally accessible — buy bonds and NCDs online like you buy stocks.
7–11%Yield Range
₹1,000Min Investment
G-Secs+NCDs+FDs
KiteIntegrated
🏛️ Government securities — invest in G-Secs, T-Bills, and RBI Floating Rate Bonds directly online
🏢 Corporate bonds & NCDs — access high-quality rated instruments from top Indian corporates
🏦 FD marketplace — compare and invest in NBFC and bank FDs with higher-than-savings rates
🔗 Kite order routing — place bond orders directly from your Zerodha account without switching apps
📊 Transparent pricing — see yield-to-maturity, credit rating, and issuer details before investing
KV
Kuvera
Rainmatter BackedIndia's smartest free direct mutual fund platform with tax-harvesting and goal tracking.
💡 The smartest free MF platform in India — save taxes automatically, grow wealth faster.
100%Free Forever
AutoTax Harvesting
FamilyPortfolio
GoalTracking
💰 Tax Loss Harvesting — auto-identifies short-term loss opportunities to offset gains and save taxes
🎯 Goal-based investing — set goals for education, retirement, or home; get a personalised fund roadmap
👨👩👧 Family portfolios — manage investments for your entire family under one login
🔄 Smart fund switch — AI recommends direct-plan switches to reduce your overall expense ratio
🔗 Zerodha sync — link Console to view Coin MF holdings alongside Kuvera in one consolidated view
FS
Finshots
Rainmatter BackedIndia's most-read free daily finance newsletter — 3 minutes, zero jargon.
📰 India's sharpest daily finance brief — complex markets explained in just 3 minutes.
400K+Subscribers
3 MinDaily Read
FreeNo Paywall
DailyWeekdays
📬 Daily newsletter — published every weekday morning, covering one big story clearly and concisely
🧠 Zero jargon — RBI policy, IPOs, global macro and market moves explained like you're 25
🌍 Broad coverage — Indian markets, global economy, startup funding, and corporate earnings
👥 Same team as Ditto — built by the founders of Ditto Insurance, backed by Rainmatter
🔓 Completely free — no paywall, no subscription fee, just great content at finshots.in
PB
PensionBox
Rainmatter · $2M (2026)B2B corporate pension tech platform — Zerodha's newest strategic bet (Jan 2026).
🧓 Modernising India's retirement — making corporate NPS as simple as payroll.
$2MRainmatter 2026
165L+NPS Subscribers
B2BHR Focused
NewJan 2026
🏢 Corporate NPS automation — HR systems connect directly to automate enrollments, contributions & compliance
📋 Paperless onboarding — eliminates the current manual, paper-heavy corporate pension process entirely
💼 Employer + employee — manages both employer contribution and employee NPS tier-1 & tier-2 accounts
📊 Real-time reporting — dashboards for HR teams to monitor NPS contribution status company-wide
🚀 Newest Rainmatter bet — Zerodha's strategic $2M investment in Jan 2026 signals confidence in pension tech
Advantages & Disadvantages
Pros & Cons
An honest assessment of where Zerodha excels and where it falls short in 2026.
✅
Advantages- ✓Free Equity Delivery: ₹0 brokerage on delivery trades — the best charge structure for long-term investors and buy-and-hold portfolios.
- ✓Most Profitable Broker: ₹4,237Cr net profit in FY25, ₹22,679Cr cash reserves — financially the strongest and most stable broker in India.
- ✓Best Trading Tools: Kite, Sensibull, Streak, Console, Coin — the richest ecosystem of trading and investing tools among all discount brokers.
- ✓Currency Derivatives Available: USDINR, EURINR, GBPINR, JPYINR on NSE CDS — unlike Groww which doesn't offer currency trading.
- ✓Varsity Education Platform: Free, world-class stock market education with 2,000+ chapters — best financial literacy platform in India.
- ✓NRI Accounts Supported: Both NRE and NRO PIS accounts available — a key advantage over Groww which does not yet support NRI accounts.
- ✓Fully Bootstrapped: No VC funding, no external investors — completely founder-controlled, profit-driven, and customer-first decision making.
⚠️
Limitations- ✗Demat AMC ₹300/yr: Unlike Groww's lifetime zero AMC, Zerodha charges ₹300/yr + GST demat maintenance (waived only for BSDA accounts with holdings under ₹4L).
- ✗Demat AMC Not Free: Slab-based AMC — ₹300/year for holdings above ₹10 lakh, unlike Groww's lifetime zero AMC.
- ✗No Research / Stock Tips: Purely self-service — no proprietary stock research reports, no advisory, no analyst recommendations.
Expert Ratings
Zerodha Ratings
Expert assessment across key parameters based on detailed analysis of charges, tools, safety, and service quality.
4.6
/5
★★★★★
Overall Expert Rating
5★
55%
4★
28%
3★
10%
2★
5%
1★
2%
Brokerage Charges4.6/5
Platform Usability4.8/5
Trading Tools4.7/5
MF Investing (Coin)4.5/5
Account Opening4.5/5
Financial Safety4.9/5
Customer Service4.2/5
FAQs
Frequently Asked Questions
Everything you need to know about Zerodha — charges, account, platforms, FY25 performance and more.
Is Zerodha free? What are the account opening charges?
Zerodha has a simple, transparent pricing model — equity delivery and mutual funds are completely free.
₹0Demat Opening
₹0Equity Delivery
₹20Max F&O / Intraday
- ✓Equity Delivery & MF: ₹0 brokerage — completely free forever for retail individuals
- ✓Intraday, Futures & Currency F&O: ₹20 or 0.03% per order, whichever is lower
- ✓Equity Options & Commodity Options: Flat ₹20 per executed order
- ✓IPO via UPI: Free application through Kite
- !Demat AMC: ₹0 (BSDA ≤₹4L) · ₹100/yr (₹4L–₹10L) · ₹300/yr (above ₹10L) — charged quarterly
- !Call & Trade: ₹50 per order for orders placed via dealer (includes auto square-off orders)
⚠️ Statutory charges — STT, exchange txn fees, SEBI charges, stamp duty, GST — apply on all trades as mandated by SEBI. These are the same for every broker in India. Budget 2026 update (effective Apr 1, 2026): STT on Futures hiked from 0.02% → 0.05%; STT on Options premium hiked from 0.10% → 0.15%. Also from Apr 1: Zerodha charges ₹40/order (up from ₹20) for intraday F&O trades where the account doesn't maintain SEBI's 50% cash collateral rule — compliant accounts remain at ₹20.
Why did Zerodha's revenue and profit fall in FY25?
FY25 was impacted by SEBI's sweeping F&O regulatory overhaul — but Zerodha remains India's most profitable broker.
₹8,847CrFY25 Revenue (−11%)
₹4,237CrNet Profit (−23%)
₹22,679CrCash Reserves
- !STT on options hiked (Budget 2026): Options premium STT raised from 0.10% → 0.15% effective April 1, 2026; Futures STT from 0.02% → 0.05%
- !Weekly expiries cut: Reduced to just 2 weekly contracts across NSE & BSE (from 5+)
- !Exchange rebates removed: Eliminated transaction charge rebates that brokers previously passed on
- !BSDA limit raised: More accounts exempt from AMC, reducing fee income
💡 Despite the decline, Zerodha's 63.78% EBITDA margin remains best-in-class. Zero debt and ₹22,679Cr in cash give them long runway without any financial risk.
What is Tijori Finance and how is it integrated with Zerodha?
Tijori Finance is an AI-powered stock research platform, Rainmatter-backed, that powers Zerodha Console's Stock Insights & Timeline.
- ★Rainmatter Investment: Zerodha invested $5M in Tijori (Nov 2025) — their largest fintech research bet
- ★Console Integration: Powers real-time Timeline (filings, AGMs, results) and Stock Insights tab inside your Zerodha portfolio
- ★Unique Data: Revenue mix, supply chain maps, forensic flags, concall summaries within 2 minutes of call end
- ✓Zerodha Login: Sign in with your Kite credentials — 90% of Tijori's 15,000+ subscribers come via Zerodha
✓ Free Basic Tier
₹330/month Premium
AI Concall Notes
Console Integrated
What is Ditto Insurance and why is it part of the Zerodha ecosystem?
Ditto is India's most transparent insurance advisory — built by the Finshots team, backed by Rainmatter (Zerodha's investment arm).
- ✓Zero spam guarantee: One consultation, zero follow-up calls unless you request them — completely opt-in
- ✓Salaried advisors only: No commissions, no targets — advisors earn a fixed salary and recommend what's best for you
- ✓Products: Term life insurance (₹1Cr+ cover) and health insurance — compared across 50+ policies transparently
- ★Zerodha Universe: Accessible to all Zerodha users; log in via Kite credentials at joinditto.in for priority booking
✓ Free Consultation
IRDAI Certified (CA0738)
4.9★ Google Rating
8L+ Customers
What is Zerodha Kite and which devices does it support?
Kite is Zerodha's flagship trading platform — ultra-fast, lightweight, and India's most reliable execution engine since 2015.
✓ Web Browser
✓ Android App
✓ iOS App
11 Languages
- ★Advanced Charting: 100+ indicators, multi-timeframe (1min–1month), 6-chart multi-layout view
- ★Market Depth: Full 20-level order book visible for any instrument at no extra cost
- ★GTT Orders: Good Till Triggered orders stay active in the cloud without babysitting markets
- ✓Native Integrations: Launch Sensibull, Streak & Smallcase in one click from within Kite
- ✓90,000+ Instruments: All NSE/BSE stocks, F&O contracts, MCX commodities and currency pairs
Is Zerodha safe? How secure is my money and Demat account?
Yes — Zerodha is one of the safest brokers in India. Your shares and money are held by regulated institutions, not Zerodha itself.
₹22,679CrCash Reserves
₹0Debt
15 YrsProfitable Streak
- ✓CDSL Depository: All shares held with CDSL — Zerodha cannot access or pledge your securities
- ✓SEBI Regulated: INZ000031633 · NSE: 13049 · BSE: 1086 · MCX: 46025
- ✓2FA Security: TOTP authenticator + biometric login on mobile app
- ✓Self-hosted Infrastructure: No third-party cloud dependencies — all customer data on Zerodha's own servers
🔒 Zerodha has been profitable every year since FY15 — bootstrapped with no external VC investors or debt obligations, giving it complete financial independence.
Does Zerodha provide research, stock tips or advisory services?
No — Zerodha is a pure execution platform with no stock tips, advisory or relationship managers. But its ecosystem partners fill that gap.
Ecosystem Research Tools
- ★Tijori Finance: AI-powered fundamental research, revenue breakups, concall summaries, forensic flags
- ★Sensibull: F&O strategy analysis, live Greeks, payoff charts, AI strategy ideas
- ★Streak: No-code algo trading — build, backtest & automate rule-based strategies
- ★Smallcase: 500+ expert-curated stock baskets by SEBI-registered managers
- ✓Varsity (Free): 15+ modules covering basics to advanced F&O — India's best free finance education
How do I open a Zerodha account? What documents are required?
Zerodha account opening is fully digital and takes 15–30 minutes — no branch visit, no physical forms required.
Required Documents
- 1PAN Card — mandatory for all applicants
- 2Aadhaar — linked to mobile number for OTP-based e-sign via DigiLocker
- 3Bank Proof — cancelled cheque or bank statement with IFSC & MICR code
- 4Scanned Signature — on white paper, uploaded during KYC
- !F&O Income Proof — only if F&O access needed (Form-16 / ITR / salary slip / 6-month bank statement)
✓ Demat Opening Free
Trading A/c: ₹200 one-time
NRI: Offline Only
Active in 24 hrs
Can I invest in mutual funds, IPOs, NPS and bonds through Zerodha?
Yes — Zerodha supports all major asset classes from a single login. No other discount broker matches this breadth.
- ✓Mutual Funds via Coin: 7,000+ direct schemes, zero commission, SIP / STP / SWP support, demat-held units
- ✓IPOs: Apply for mainboard & SME IPOs via UPI ASBA on Kite — completely free
- ✓Bonds & NCDs: G-Secs, T-Bills, corporate bonds via GoldenPi integration (Rainmatter-backed)
- ✓ETFs: Trade like stocks on NSE/BSE with ₹0 delivery brokerage
- ✓Insurance: Term & health insurance via Ditto (life & health) — free advisory
- ★NPS / Pension: Corporate NPS via PensionBox (Rainmatter · $2M, Jan 2026) — Tier I & Tier II, tax benefit u/s 80CCD
Will Zerodha start charging for equity delivery in the future?
As of March 2026, equity delivery is still free. Zerodha has however raised F&O brokerage for some traders from April 1, 2026.
- !Revenue headwinds: SEBI's F&O overhaul caused a ~40% drop in brokerage revenue in Q1 FY26; Budget 2026 further hiked F&O STT from April 1
- !F&O brokerage hiked (Apr 1, 2026): Zerodha will charge ₹40/order (up from ₹20) for intraday F&O trades where traders don't maintain SEBI's 50% cash collateral requirement — compliant traders stay at ₹20. Equity delivery remains ₹0.
- !CEO's stance: Nithin Kamath has indicated delivery charges "may become necessary" to sustain operations long-term, but confirmed no change as of March 2026
- ✓Equity delivery still ₹0: No delivery brokerage announced — sources confirm it remains free for now
- ✓Transparent commitment: Zerodha has committed to giving advance notice well before any such change
💰 Zerodha's ₹22,679Cr cash reserve gives them significant runway. The April 2026 F&O brokerage hike affects only non-cash-collateral intraday traders — equity delivery investors are entirely unaffected.
Final Verdict
Zerodha: Best for Traders & Long-Term Investors
Zerodha is India's most profitable and financially strongest broker — bootstrapped, debt-free, holding ₹22,679Cr in cash. ~6.9M active clients as of March 2026 (15.08% market share, #2 behind Groww). Free equity delivery, the richest tools ecosystem (Kite + Terminal Mode now live, Sensibull, Streak, Varsity, Coin with Microsavings), currency derivatives, and NRI support make it the best all-round discount broker for serious traders and investors. Note: from April 1, 2026, F&O brokerage rises to ₹40/order for accounts not maintaining SEBI's 50% cash collateral — compliant traders still pay ₹20. Budget 2026 also raised STT on futures (0.02%→0.05%) and options (0.10%→0.15%), effective April 1.
Overall Expert Score
Brokerage Charges
4.6
Platform Usability
4.8
Trading Tools
4.7
MF Investing (Coin)
4.5
Account Opening
4.5
Financial Safety
4.9
Customer Service
4.2
Overall Expert Score4.6/5