Why Zerodha is the best broker
April 1, 2016
I am a casual trader, investor and also a regular market watcher, Zerodha is the third stock broker I’m trying and there are few things which made it attractive for me. So, I thought of writing a small review comparing Zerodha to my old Brokers, Kotak Securities and Geojit BNP Paribas.
These are the reasons why I love Zerodha and recommend.
1) Stock Investment is brokerage free
Industry standard brokerage is 0.5% of the amount invested but Zerodha went free last year.
You just pay government and exchange a small fee. The Zero Brokerage might save few hundreds each year for a beginner.
2) Trading brokerage is flat priced.
Zerodha charges 20 rupees per trade (buy or sell) for options or equity/future intraday.
Industry standard is 0.05% of the transaction amount (Equity/Futures) and 100 rupees per lot (Options).
This alone made me switch to Zerodha. I traded a lot at start of my trading journey and ended up paying thousands in brokerage to Geojit and Kotak.
3) Higher Intraday Margin
Zerodha offers higher margin than most of the competitors for intraday trades. Margin is very important for small traders to take higher positions.
Kotak was offering 5 times of my trading amount for blue chip stocks while Zerodha offers 10 times.
4) Kite- A beautiful browser-based trading app
Kite is very simple and intuitive browser-based trading platform. A good match for my non-window Mac and BlackBerry. It’s so promising that Zerodha is pushing it to make a platform itself.
Axis Direct had a horrible browser-based platform and other brokerages firms are not different.
Zerodha Quant analyzes your historical trades and provides insights to make you more data-driven trader. You can see your current profitable streak (A challenge), Best day to Trade, Optimal position size etc via Quant.
5) Always with New Features
One of the things I love about Zerodha is their constant addition of new features and services.
They recently went free for equity investing, started offering collateral margin against your holding, turned Kite into a platform etc. They also have a very active trading forum called tradingqna.
Tell me, who doesn’t love new things?
6) Excellent Support
The customer on-boarding experience was wonderful. Zerodha Support was very helpful in the migration period from my old broker.
Your queries are resolved via Phone or email quickly and you can also call-to-trade.
Without any doubts, Zerodha is the one of the best discount brokerage firm. If you are looking to trade with ease, save money on your brokerages and need support once in a while, Zerodha deserves a trial.
I’m a Zerodha Authorized Partner . For Opening an account please feel to ping me at 9037288616