Zerodha is an Indian brokerage firm that has been around since 2010, with business in the BSE, NSE, and MCX. It has over 15 million users, whose daily trades account for more than 15% of total retail order volumes in India.
Zerodha supports trading in multiple assets including currencies, commodities, equities, futures and options (F&O). Itn addition, the brokerage offers a variety of alternative investment options, such as initial public offerings (IPOs), direct mutual funds, bonds, G-Secs, and more.
Zerodha offers its users easy and free deposit and withdrawal options.
With Zerodha, there are four different options for depositing funds:
You can place your requests for withdrawals on Zerodha’s Console or Kite platforms. However, note that you cannot withdraw the transferred funds on the same day. The funds typically reflect in your bank account within 24 hours after the cut-off time. However, you will have to wait an extra business day if you submitted the request after the deadline.
In addition, Zerudha recently introduced a new Instant Withdrawal option, which enables users to transfer money from their Zerodha account to your main bank account for free and in a matter of seconds. However, there are some factors you need to be aware of:
Zerodha’s product suite includes brokerage services covering futures and options, commodities and currency derivatives, equities and initial public offerings (IPOs), direct mutual funds, bonds, and government securities.
In terms of brokerage, Zerodha provides a universal plan. Neither the subscription fee nor the brokerage fee applies to this plan’s equities delivery trades. Its equity delivery investments are free, as are direct investments in mutual funds.
However, there is a flat cost of Rs 20 or 0.03% (whichever is lesser) per executed order for intraday trades in equities, currencies, and commodities, as well as for futures contracts. Options traders pay a flat fee of Rs 20.
Zerodha has some hidden charges for calls and trades, having your position squared off by your broker, and receiving trade alerts via SMS.
Zerodha does not support MT4 or MT5. Instead Kite is Zerodha’s flagship platform, and it offers many trading features such as hundreds of technical indicators, supports direct trading from charts, and has multiple chart formats. Users can trade in the stocks, commodities, currencies, and derivatives divisions through the Kite mobile app, which is compatible with both iOS and Android. Not only that, it is also compatible with TradingView and allows for multiple market watches.
Kite Web Zerodha’s online trading platform is easy on the eye and intuitive. However, its main downside is the limited options when it comes to customisation. Nonetheless, the Kite Web platform has numerous new features, better performance, and an improved user interface and user experience.
While Zerodha is well-known for its own trading platforms and tools, it also supports integration with third-party products.
An integral part of Zerodha’s back-office system is the Console. It is a dashboard that enables Zerodha’s customers to keep track of their stocks, derivatives, mutual funds, and more. With comprehensive investment reports that reveal trade information, it helps them to comprehensively analyse their trades and investments. In addition, it enables users to their trading results and profits using graphs and other visualisation tools.
Varsity is Zerodha’s comprehensive and detailed library of educational material on financial and stock markets. One of the most comprehensive online resources for personal finance education, it is free and available to anybody who wants to use it. It also has an online certification programme that exposes traders to different market dynamics and gives them the confidence to launch a career in capital markets.
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This post was last modified on Jun 27, 2024, 18:25 BST 18:25