Zerodha
The broker that changed Indian markets. Zero delivery brokerage, transparent pricing.
True cost on ₹50,000 delivery trade
₹126.85
₹111.51 unavoidable govt/exchange charges
+ ₹15.34 broker charges
vs ₹126.26 at Dhan (cheapest)
— ₹0.59 more
About Zerodha
Zerodha launched in 2010 and upended Indian brokerage by charging zero on delivery trades and capping F&O fees at ₹20. Today it is India's largest broker by active clients — entirely bootstrapped, no external funding. The Kite trading platform and Coin mutual fund platform are widely considered best-in-class.
Who is Zerodha right for?
Long-term / Delivery investing Excellent
Zero delivery brokerage and low DP charge make it ideal for buy-and-hold investors.
Intraday trading Excellent
At 0.03% capped at ₹20, most intraday trades cost under ₹20. Kite is a top platform for technical analysis.
F&O / Options trading Good
Flat ₹20/order is competitive. Options analytics via Sensibull integration.
Beginner investors Good
Strong educational content (Zerodha Varsity). Platform can be overwhelming initially.
Every Zerodha charge, listed
All charges Zerodha can collect — grouped by type. Regulatory charges (STT, exchange fees, SEBI fee, stamp duty) are fixed by law and identical at every broker; they're listed separately below.
| Charge | Rate / Amount | What it means |
|---|---|---|
| Trading charges | ||
| Delivery Brokerage | ₹0 | Per order, charged on both buy and sell legs. The most-advertised number. |
| Intraday Brokerage | 0.03% or ₹20, lower | MIS orders — buy and sell same day. Per order. |
| F&O Futures Brokerage | 0.03% or ₹20, lower | Per futures order/lot. |
| F&O Options Brokerage | Flat ₹20/order | Per options order/lot. |
| MTF Brokerage | 0.3% or ₹20, lower | Brokerage on Margin Trading Facility orders. MTF lets you buy more than your balance and hold overnight. |
| Demat charges | ||
| DP Charge (per sell) | ₹13 + 18% GST = ₹15.34 | Once per company (ISIN), per sell day. Not charged on intraday or F&O. |
| AMC (annual) | ₹75 + 18% GST = ₹88.50/year | Charged yearly to maintain your demat account, regardless of activity. |
| Other fees | ||
| MTF Interest Rate | 14.60% p.a. (~0.040%/day) | Daily interest on borrowed margin. Rate shown is p.a. — confirm before using. |
| Call & Trade | ₹50 + 18% GST = ₹59/order | Extra fee per order placed by phone instead of app. |
| Auto Square-off | ₹50 + 18% GST = ₹59/order | Charged if broker closes your open intraday position at market end. |
| Payment Gateway | ₹9 + 18% GST = ₹10.62 | Per fund transfer. UPI is usually free — use it. |
| DDPI (one-time) | ₹100 + 18% GST = ₹118 | Demat Debit & Pledge Instruction — avoids TPIN entry on every sell. |
| Account Opening | Free | One-time cost to open demat + trading account. |
| Settlement & custody | ||
| Physical Settlement | 0.25% on physical delivery value | Brokerage when an F&O contract results in physical delivery of shares instead of cash settlement. |
| Pledge / Unpledge | Pledge: ₹30 + GST/ISIN (₹35.40); Unpledge: free | Fee to pledge shares as margin collateral. Charged per ISIN per request. |
| Delayed Payment | 0.05%/day on negative balance; 0.035%/day on non-cash overuse | Daily interest on your debit balance when you owe money to the broker (e.g., after a loss or pending funds transfer). |
| Off-Market Transfer | ₹25 + 18% GST = ₹29.50/security/transaction | Fee to transfer shares to another demat account outside of exchange settlement. |
| Currency & Commodity | ||
| CDS Futures | 0.03% or ₹20, lower | Brokerage on currency derivative futures (USDINR, EURINR, etc.). |
| CDS Options | Flat ₹20/order | Brokerage on currency derivative options. |
| Commodity Futures | 0.03% or ₹20, lower | Brokerage on MCX commodity futures (Gold, Silver, Crude Oil, etc.). |
| Commodity Options | Flat ₹20/order | Brokerage on MCX commodity options. |
| Demat services | ||
| MF DP Charges | Free for MF redemptions | DP charges on mutual fund redemptions from demat. |
| Corporate Action | Free | Processing fee for bonus, split, dividend, rights issue, etc. |
| Dematerialisation | ₹150 + GST/certificate + CDSL charges | Fee to convert physical share certificates to electronic demat form. |
| Rematerialisation | ₹150 + GST/certificate + CDSL charges | Fee to convert demat shares back to physical certificates. |
| Failed Demat | ₹50 + GST per failed instruction | Penalty when a demat transfer instruction fails. |
| Account & documents | ||
| API Access | Kite Connect: ₹2,000/month | Monthly or annual fee for trading API access. |
| API Brokerage | Same as manual trades | Brokerage rate when trading via API. |
| Account Reactivation | ₹50 + GST = ₹59 | Fee to reactivate a dormant or frozen account. |
| Instant Withdrawal | Free via UPI | Fee for instant fund withdrawal to bank account. |
| DIS Slip | ₹100 + GST/booklet (not needed with DDPI) | Physical Delivery Instruction Slip booklet. |
| Physical CMR | ₹50 + GST | Physical copy of Client Master Report. |
| Physical Contract Note | ₹20 + GST per contract note | Physical copy of daily contract note. |
| Account modifications | ||
| Name Change | ₹25 + GST (₹29.50) Up to 72 working hours | Fee and processing time to change your name on demat records. |
| Mobile & Email | Free Up to 24 working hours | Fee to update your registered mobile number or email address. |
| Address Change | ₹25 + GST (₹29.50) Up to 72 working hours | Fee to update your registered address. |
| Nominee Change | Adding: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days | Fee to add, remove, or modify nominee details. |
| DOB Correction | ₹25 + GST (₹29.50) Up to 72 working hours | Fee to correct date of birth on demat records. |
| Bank Account Change | ₹25 + GST (₹29.50) Up to 72 working hours | Fee to change your primary linked bank account. |
| KYC Update | Re-KYC: Free; Modification: ₹25 + GST (₹29.50) Up to 5 working days | Fee for re-KYC or KYC detail modification. |
| Cheque Bounce Penalty | ₹350 + 18% GST = ₹413 | Penalty when a cheque deposited with the broker bounces. |
What you'd actually pay
All-in cost per trade — brokerage + GST + DP charge + every regulatory charge.
₹10K
₹37.64
0.376% of trade
₹15.34 broker ₹22.30 govt/exchange incl. ₹15.34 DP
₹25K
₹71.10
0.284% of trade
₹15.34 broker ₹55.76 govt/exchange incl. ₹15.34 DP
₹50K
₹126.85
0.254% of trade
₹15.34 broker ₹111.51 govt/exchange incl. ₹15.34 DP
₹1L
₹238.37
0.238% of trade
₹15.34 broker ₹223.03 govt/exchange incl. ₹15.34 DP
₹5L
₹1,130.49
0.226% of trade
₹15.34 broker ₹1,115.15 govt/exchange incl. ₹15.34 DP
Govt/exchange charges (₹111.51 on ₹50K) are identical at every broker — only the broker portion differs.
Regulatory charges — the ones no broker can change
These charges are fixed by law and collected by exchanges / the government. Every broker charges them identically. They add up to ₹111.51 on a ₹50,000 delivery trade.
| Charge | Rate | Amount on ₹50K trade | Who collects | Learn more |
|---|---|---|---|---|
| STT (Securities Transaction Tax) | 0.1% on turnover (delivery) | ₹100.00 | Government of India | STT explained → |
| Exchange Transaction Charge | 0.00297% of turnover (NSE) | ₹2.97 | NSE / BSE | Exchange fee → |
| GST on Exchange Charge | 18% on exchange charge | ₹0.53 | Government of India | GST explained → |
| SEBI Regulatory Fee | ₹10 per crore turnover | ₹0.51 | SEBI | SEBI fee → |
| Stamp Duty | 0.015% on buy value | ₹7.50 | State governments | Stamp duty → |
| Total regulatory charges | ₹111.51 | Cannot be reduced by choosing any broker | ||
How does Zerodha compare?
See how Zerodha stacks up against all 16 brokers on any trade value and type.