Zerodha vs Angel One
Zerodha offers ₹0 delivery and no research; Angel One charges on delivery but has a SEBI-registered research arm.
Fees checked on against each broker's official pricing page.
Charges side by side
| Charge | Zerodha | Angel One |
|---|---|---|
| Account opening | Free for individual accounts; ₹500 for NRI and corporate accounts. | ₹0. |
| Demat AMC | Free for the first year for resident individual accounts opened on or after 1 June 2026 (primary demat). After that, Basic Services Demat Account (BSDA): free for holdings up to ₹4 lakh, ₹100 per year + GST for ₹4–10 lakh; non-BSDA: ₹300 per year + 18% GST, charged quarterly. | Free for the first year. After that, BSDA: nil up to ₹4 lakh and ₹100 + GST for ₹4–10 lakh; non-BSDA: ₹60 + GST per quarter. |
| Equity delivery | ₹0 (zero brokerage). | ₹0 brokerage up to ₹500 in the first 30 days; then ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Equity intraday | 0.03% or ₹20 per executed order, whichever is lower. | ₹0 brokerage up to ₹500 in the first 30 days; then ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Futures | 0.03% or ₹20 per executed order, whichever is lower. | Flat ₹20 per executed order. |
| Options | Flat ₹20 per executed order. | Flat ₹20 per executed order. |
| Commodity | Same pattern as equity: 0.03% or ₹20 for futures, ₹20 flat for options. | — |
| Currency | 0.03% or ₹20 for futures, ₹20 flat for options. | — |
| DP charge (on selling delivery shares) | Once per stock (ISIN) per day. ₹3.50 CDSL + ₹9.50 Zerodha + 18% GST = ₹15.34. Women first holders get a ₹0.25 CDSL discount (₹15.05). Selling the same stock once or several times on one day costs one DP charge. | Every sell transaction per ISIN. ₹20 + 18% GST (₹23.60) per ISIN per transaction. Split: ₹3.50 CDSL + ₹16.50 Angel One (men), ₹3.25 + ₹16.75 (women). Angel One's example: selling TCS at 10 am and again later the same day attracts DP twice. |
| Margin trading (MTF) | Interest 0.04% per day; MTF brokerage 0.3% or ₹20 per order, whichever is lower. | Interest 0.041% per day on MTF borrowings (Angel One lists 0.049% per day for ordinary debit balances). |
| Other notable charges | Call & trade: ₹50 per order (also charged for auto square-off). Direct mutual funds on Coin: no commission. A 27 Mar 2026 clarification states an extra ₹20 per F&O order applies only to accounts using collateral margin without at least 50% cash margin when the shortfall exceeds ₹5 lakh. | Call & trade: ₹20 per order. DDPI: ₹100. Angel One's page also mentions an MTF interest revision to 14.99% a year (see the source-conflict note). |
Company, regulation & platforms
| Zerodha | Angel One | |
|---|---|---|
| Type | Discount broker | Discount broker with research |
| Legal entity | Zerodha Broking Limited | Angel One Limited |
| SEBI registration | INZ000031633 | INZ000161534 |
| Mobile app | Kite (Android, iOS) | Angel One app (Android, iOS) |
| Web / desktop | Kite web, Console (reports), Coin (mutual funds), Kite Connect API | Angel One web trading, SmartAPI |
| Best for | Low-cost long-term investing | Investors who want research with low fees |
Key differences
Delivery: Zerodha ₹0; Angel One ₹20 or 0.1% (after its first-30-day offer).
Intraday: Zerodha 0.03% or ₹20; Angel One 0.1% or ₹20. F&O: ₹20 per order at both on options.
AMC: Zerodha ₹300 + GST per year (non-BSDA). Angel One is free for year one, then ₹60 + GST per quarter (₹240 + GST a year) on non-BSDA.
DP: Zerodha ₹15.34 once per stock per day. Angel One ₹23.60 (₹20 + GST) per ISIN per sell transaction, so two same-day sells of one stock cost ₹47.20.
Research: Angel One is a SEBI-registered research analyst and publishes reports; Zerodha offers education (Varsity) but no research calls.
Call & trade: Angel One ₹20 per order; Zerodha ₹50.
Figures in the worked examples are brokerage only. Add GST, STT, exchange, SEBI and stamp charges, which are similar at both brokers.
Which should you choose?
- Choose Zerodha if you mainly buy and hold and don't need research.
- Choose Angel One if you value research reports and cheaper call & trade, and accept brokerage on delivery.
Zerodha
Pros
- ₹0 brokerage on equity delivery
- Clearly published, easy-to-read charges page
- Mature in-house platforms (Kite, Console, Coin)
Cons
- No research calls or advisory
- ₹300/year + GST AMC on non-BSDA accounts
- Call & trade costs ₹50 per order
Angel One
Pros
- Flat ₹20 F&O brokerage
- SEBI-registered research arm
- Free AMC in the first year
Cons
- Brokerage on delivery trades after the first 30 days
- DP of ₹20 + GST on every sell transaction, even for the same stock on the same day
- Non-BSDA AMC applies from year two
Frequently asked questions
Which has lower AMC, Zerodha or Angel One?
Angel One's non-BSDA AMC after year one is ₹60 + GST per quarter (₹240 + GST a year), versus ₹300 + GST at Zerodha. Angel One also waives the first year.
Sources
- Zerodha – official pricing — accessed 30 September 2026
- Angel One – official pricing — accessed 30 September 2026