Zerodha Review 2023

Zerodha review
Zerodha Awards

Zerodha have won numerious industry awards over the 13 years they have been operating as a financial broker. We have listed the most notable awards and mentions for Zerodha below.

• Economic Times Startup Awards 2016
• Retail Broker of the Year 2018

Zerodha review
Zerodha Fees Explained

• Zerodha doesn't charge withdrawal fees.
• Zerodha does not charge a fee for inactive accounts.
• Zerodha doesn't charge deposit fees.

Brokers offer state of the art online trading platforms, mobile trading apps, financial research tools and educational resources. For a brokerage to maintain these services and earn revenue as a company. Brokers may charge clients various trading fees that you need to be aware of as they may affect your bottom line.

How Zerodha Fees Compare Against Other Brokers

Zerodha Minimum Deposit

Zerodha do not require a minimum deposit when opening a Zerodha trading account.

Brokers that offer lower minimum deposits are generally geared towards a more mainstream audience that do not require some of the more advanced features and research tools.

Brokers that do not charge minimum deposits do so usually to attract new customers. They have to make returns some way, so transaction commissions and other trading fees may be higher with a low minimum deposit account.

Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features.

As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.

Depending on the type of trading account you opt for some brokers require a minimum deposit as high as 6500 GBP/USD. Some brokers can go as high as 10,000 GBP/USD.

Zerodha Withdrawal Fees

Zerodha doesn't charge withdrawal fees.

Each broker has their own specific withdrawal rules on how your funds can be withdrawn from your trading accounts.

This is because each brokerage firm will have different withdrawal methods and each payment provider may have differing transfer processing fees, processing times and a potential currency conversion fee. The Conversion fee is dependant on your base currency, your receiving currency and your payment provider.

For example Zerodha allows you to withdraw your funds to Credit cards, Bank Transfer, PayPal, Debit cards.

Zerodha Inactivity Fees

Zerodha does not charge a fee for inactive accounts.

An account inactivity fee is a fee charged to the registered brokerage client.

Brokers may have certain trading activity requirements that under the terms and conditions of the accounts and clients may have to fulfill.

If a clients trading account does not have any buying and selling over a period of time as dictated by the broker an inactivity fee may be due.

Inactivity fees are not specific to online trading accounts. Many financial service companies may charge inactivity fees. Please check on the brokers website and make sure you are aware of and are happy with all the services and fees you may be charged.

If you are no longer using your trading account close it with the brokers customer support. And make sure you have a confirmation that any remaining fees are not due.

Depending on the type of account you have signed up for you can only be charged an inactivity fee under certain circumstances. As part of a brokers regulation they are required to clearly disclose any inactivity fees.

Some brokerage firms may charge inactivity fees as compensation for maintaining your account on their expensive trading platforms, in an attempt to claw back revenue for the lack of commission fees from your trading.

Zerodha Deposit Fees

Zerodha does not charge deposit fees. Although bank / 3rd party merchant fees may apply.

You must always review deposit fees as some brokers may charge a fee when you deposit funds from your payment method to your trading account. This is because the payment method which you use to fund your account may accrue a fee.

The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card.

Zerodha Commission Fees

Zerodha does not charge commission on CFD instruments.

A broker may charge a commission fee as a service charge for facilitating the buying and selling of financial assets through your trading account.

A brokerage may make most of their revenue from charging registered traders a commission fee on client transactions.

Commission fees can differ depending on the trading type, financial asset type and what level of trading account you have.

Broker commissions are charged if the brokerage fulfills an order, cancels an order or modifies and order on your behalf.

If a market order is not fulfilled by your brokerage usually no commission is charged.

Be aware that if your order is modified or canceled, your brokerage may charge a commission fee.

Zerodha review
Trading on Zerodha web platforms and other applications

Zerodha offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

Zerodha also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See Zerodha's platforms

Is the Zerodha Trading Platform Secure?

Zerodha safeguards the personal information of its clients through SSL encryption in its PC and mobile platforms. Zerodha also urges its clients through its web platform to always look for the SSL security sign (a lock sign) on the browser while operating Zerodha.

Zerodha Trading Platform Options

Zerodha does not offer the MetaTrader 4 (MT4), MetaTrader 5 (MT5) or cTrader trading platforms.

Zerodha offer an their own custom trading platform developed and tested in house. The Zerodha trading platform allows traders to track their portfolios, track the current markets, locate trade ideas and place trades.

The Zerodha platform allows traders to filter the financial marketplace for trade opportunities that match a criteria.

With Zerodha you can look for and examine opportunities with actionable research and stock evaluations. Get streaming real-time information on the Zerodha platform including news and quotes. Discover possible trades with the strong charting tools found with Zerodha. Zerodha is available as downloadable applications or online through the cloud. Monitor your orders with Zerodha and receive breaking news in your positions.

Zerodha Trading benefits

• Allows hedging
• Offers STP
• Low min deposit
• Offers Negative Balance Protection

Zerodha Trading Accounts Offered

Below we give an overview on the account types that Zerodha offer. Whatever you are looking to trade the varying Zerodha account types will be able to provide you with what you need.

• STP account

Can I try Zerodha?

Zerodha offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Your capital is at risk

Zerodha withdrawal and funding methods

Please note that the list of Zerodha payment methods below depend on the Zerodha Entity and the Clients Country of Residence.

All available Zerodha payment methods available to you can be found in your Zerodha members area checked on the Zerodha website.

Zerodha offer the below funding payment methods. You can use any of the below deposit options if available in your region. learn more about Zerodha

Zerodha Payment Methods

• Zerodha accepts Credit cards
• Zerodha accepts Bank Transfer
• Zerodha accepts PayPal
• Zerodha accepts Debit cards

How can I start trading with Zerodha?

When opening a trading account with Zerodha, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Zerodha trading platforms here. You will need to provide some basic documentation to prove your identity as part of Zerodha onboarding and normal KYC identity checks. These checks are standard practice and help Zerodha provide a trustworthy financial environment for their 1,500,000 users.

Your capital is at risk

Performing trades with Zerodha

Zerodha allow you to execute a minimum of trade of varies. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Zerodha offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the instruments.

Limiting Your Risk When Trading with Zerodha Negative Balance Protection

We should say something about negative balance protection with Zerodha. When trading using leverage an adverse move could result in losing more than your trading account balance at Zerodha. If your broker is regulated by the FCA Negative Balance Protection should be set in place by your broker as standard. Your Zerodha account could potentially become negative. We recommend you making use of negative balance protection. Using negative balance protection ensures your losses will always be limited to the current balance of the money in your account.

Education Resources at Zerodha

To trade effectively with Zerodha, it's important to get a have a good understanding of the Zerodha trading tools and the markets. Make sure you make full use of all education tools. This includes eduction tools with Zerodha and externally.

Zerodha offer a good selection of educational resources. Take your time, learn how the financial markets move. Take the time to learn how your trading platform works. Make buy/sell trades, learn how to take advantage of global trading times and most importantly learn how to mitigate and manage investing risk.

Having an analytical approach may be a good way to approach trading with Zerodha.

Take time to look around the Zerodha platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Zerodha

As part of our Zerodha review we review customer service options, response times and Zerodha trading platform problem resolution effectiveness. Zerodha support a wide range of languages including English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文.

Zerodha have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Zerodha less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Phone support supports a limited amount of Languages.

Livechat Support at Zerodha

Zerodha does not offer LiveChat Support.

Email Support at Zerodha

We sent several emails to Zerodha and answer times overall were excellent. The fastest response from Zerodha was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with Zerodha, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Zerodha.

Phone Support at Zerodha

We called Zerodha and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Zerodha phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Zerodha team by calling in varying languages. Zerodha made an effort to make sure our queries were answered.

Overall the phone support from Zerodha was okay.

See how Zerodha Support Compares Against Other Brokers

What you will need to open an account with Zerodha

As Zerodha is regulated by Securities and Exchange Board of India (SEBI), Member of the Bombay Stock Exchange, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

• Be aware that the expiration date of Proof of address document for different entities under Zerodha Brand may be different.
• A scanned colour copy of your passport, driving license or national ID
• A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 5 minutes or so to complete the account opening process.

While you might be able to explore Zerodha's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Zerodha you can visit the Zerodha trading platform here.
Your capital is at risk
You should consider whether you can afford to take the high risk of losing your money.

CFDs are leveraged products and can result in significant losses, excess of your invested capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://zerodha.com/ on February 05, 2023.

Watch this Zerodha Explainer Video

Zerodha review written by Andrew Blumer and Mark Hansen