Zerodha discount broker has established itself as a stock exchange savvy brokerage. It’s straightforward and lowest brokerage model in India has given it huge popularity.
This article provides answers for zerodha discount broker faq.
- What is the difference between a full-service and a discount broker?
- What is zerodha discount broker?
- Why zerodha discount broker is named as “zerodha”? What does it mean?
- How zerodha is different from other discount brokers? There are others boasting the same low brokerage.
A full-service broker apart from trading and demat account offers financial advice as well. Thus charge more brokerage. A discount broker, on the other hand, offers only a trading platform with a trading account and a demat account. This minimal service also reduces the brokerage of a discount broker.
Zerodha is a discount broker which offers trading and demat account with very low brokerage in India. Headquarter of zerodha is situated in Bangalore. A complete zerodha review may give you full satisfaction.
Nithin Kamath a full-time trader for more than a decade started zerodha in Aug2010. He had faced lots of obstructions while trading for more than a decade. He decided to start a brokerage removing those obstructions. This concept was also the basis behind the name zerodha.
zero + rodha (means obstruction in Sanskrit) = zero obstruction = zerodha
Yes, it’s different. Zerodha is the first and probably the only brokerage in India who has provided a transparent platform to calculate your brokerage before trading. No more black box brokerage calculation. It offers the best learning platform for Indian stock market.
- Also Read – Basic requirements for investing in stock market
- Also Read – Reasons for stock market – Why you should enter or not
First, you have to be clear why you should enter stock market or not.
In case you have any fears regarding stock market this article will remove your fears attached with stock market. It has helped many to enter stock market.
Zerodha offers the straightforward, simplest and one of the lowest brokerage in India. Rs 0 for delivery and Rs 20 or 0.01% whichever is lower for intra-day. Yes its completely brokerage free if you are like delivery base trading. For more reasons here is a complete list.
You need to have a pan card, photo, cancelled cheque of your bank. If you have aadhar card process is much easier. You can open an account directly on zerodha website. A full article on guidelines is available here.
Zerodha trading account opening charge – Rs 300
Zerodha demat account opening charge – Rs 100
Zerodha commodity account opening charge – Rs 200
Zerodha trading annual maintenance charge AMC (Yearly fee) – Free
Zerodha demat annual maintenance charge AMC (yearly fee) – Rs 300
In case you don’t have a pan card you need to fill the documents and courier it to zerodha. New account s processed within 48 hours of receiving the form.
If you have aadhar card you can open your account instantly.
Visit zerodha website directly to open your accunt.
That’s because zerodha has not paid a dime for advertisement till date. Yes, that’s true. It believed to let people spread the word. They focussed on the quality and clients spread the word. And it has worked only because of the best brokerage model and add-ons of zerodha.
It has two platforms –
a) Kite – web, android, ios
b) Pi – desktop
Read more about zerodha trading platforms.
As per SEBI guidelines you need to have a separate account for equity and commodity. There are two ways you can transfer your funds to zerodha trading account.
- Instant payment gateway – This is inbuilt in zerodha kite & Pi platform. Using this you can transfer your funds directly to your zerodha trading platform instantly. This instant payment comes at a charge of Rs 9 plus tax. 25 major banks have been tied to up for this instant payment.
- IMPS/NEFT/RTGS/cheque – Zerodha has separate accounts for equity and commodity. You need to add these accounts as payee in your bank account.
Time taken for NEFT/RTGS is 2 – 10 hours depending on the bank. Its free on zerodha side but bank charges may apply.Time take for IMPS is 10 min during market hours. It’s free on zerodha side but bank charges may apply.
- Cheque – You can transfer funds to equity/commodity account of zerodha through cheque. Time taken to transfer funds is 3 days and is completely free.
There is a reporting tool called Q on zerodha. With this, you can transfer your funds back to your bank account.
You can login Q through kite.
Equity, F&O, currency withdrawals are processed at 7 pm Monday to Friday.
Commodity withdrawals are processed at 9 am Monday to Friday.
Withdrawals requests can only be made online
All requests placed after the above time, will be processed the next working day.
It may take up to 24 hrs for funds to be credited to your account.
Banks remain closed on second and fourth Saturdays. Thus withdrawals requested on second and fourth Friday will be processed only next Monday.