There are hundreds of stock brokers in India. All of them are trying to thrive by means of providing various facilities in terms of customer care, reduction in brokerage and other charges, good trading platforms and other facilities that may lead to customer satisfaction.
When all these are considered in respect of Zerodha, one can get a better conception about the place of Zerodha among its competitors.
Pros:
- Zerodha, a technology based broking firm, was set up in 2010 at Bangalore by Mr Nitin Kamath, a young man experienced in the field. His young and innovative team has made it possible to have more than 5 lakh customers till date in 7 years. Now, this is the fastest growing broking firm in India.
- They started a new era by introducing a new model of discount brokerage in India.
- Many others followed their way but they are far ahead of all of them.
- They have already been acclaimed for their success:
- Economic Times “Startup of the Year (Bootstrap) 2016”
- BSE / D&B Emerging Brokerage Award, 2014 & 2015
- CII Emerging Entrepreneur 2014
- Their brokerage model has made all majors in the field in a great challenge. They basically charge Nil for Delivery and only 0.01% or rs 20/- whichever is lower per executed order on NSE, BSE and MCX. This is a great relief for all-beginners, frequent traders, investors, big traders & investors and even Mutual Fund investors (Details later).
6. When it comes to facility for investing in Mutual Funds, they have introduced Coin platform where an investor can buy MFs on direct and indirect mode.
a. Over 2000 MFs are there to buy on Direct mode where you need not pay upfront and trailing commissions.
b. You can keep MFs on Demat account which will help you get P&L statement.
c. You can start, modify and stop anytime.
7. Trading Platforms: They have multi-lingual, innovative, versatile and user-friendly trading platforms for placing orders online. Their Kite is an HTML5 platform very sleek and fast suitable for android/iOS/web. Advanced charting and indicators and advanced order types like Bracket Order, Cover order, trailing stoploss, have made it unparalleled in terms of in terms of risk and more profit. They have heavy platform like Pi for Desktop which is equipped with more features than available in Kite.
8. They have innovative tools like Brokerage Calculator and Margin Calculator for better understanding of the trades and investments.
9. As they donot provide tips to their clients, they have platforms like Pulse, Varsity, Z-connect and Trading QnA for their clients so that they can get all answers and knowledge about stock market and Zerodha.
10. They have a support team of 650+ experienced youth who take care of all queries and issues of clients accordingly.
12. Account Opening Charges: Rs 300/- for Demat & Equity and Rs 200/- for Commodity.
Cons:
During Brexit there was a heavy traffic and that day some clients reported malfunction in the trading platform and the Founder promised to take care in future.
After all comparisons, if intended, one can open account with Zerodha, the fastest growing discount broker in India.