Zerodha Review 2026
Discount broker · May suit: Low-cost long-term investing
Zerodha charges ₹0 brokerage on equity delivery and 0.03% or ₹20 (whichever is lower) on intraday and futures, with a flat ₹20 on options. Non-BSDA demat AMC is ₹300 a year plus GST.
Fees checked on against the official pricing page.
At a glance
- Account opening
- ₹0
- AMC
- Free yr 1; ₹300/yr + GST
- Delivery
- ₹0
- Intraday
- 0.03% or ₹20
- Futures
- 0.03% or ₹20
- Options
- ₹20/order
- DP charge
- ₹15.34/scrip/day
- MTF
- 0.04%/day
Overview
Zerodha is one of India's best-known discount brokers and pioneered the flat-fee model. Its pricing is simple: no brokerage on delivery trades, a capped fee on intraday and futures, and a flat fee on options.
For a buy-and-hold investor, the main costs are the annual demat AMC and the DP charge of ₹15.34 each time you sell a stock from your holdings. Frequent traders mainly pay the ₹20 per-order cap.
Company & regulation
| Legal entity | Zerodha Broking Limited |
|---|---|
| Founded | 2010 |
| Headquarters | Bengaluru, Karnataka |
| SEBI stock broker registration | INZ000031633 |
| Depository participant | IN-DP-431-2019 (CDSL & NSDL) |
| Exchange memberships | NSE, BSE, MCX, MSEI |
| Account types | Individual, HUF, NRI, corporate, partnership |
| Products | Equity, F&O, currency, commodity, direct mutual funds, government securities, IPO (via UPI), MTF |
Verify registration on SEBI's register of stock brokers.
Zerodha charges
| Account opening | Free for individual accounts; ₹500 for NRI and corporate accounts. |
|---|---|
| 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. |
| Equity delivery | ₹0 (zero brokerage). |
| Equity intraday | 0.03% or ₹20 per executed order, whichever is lower. |
| Futures | 0.03% or ₹20 per executed order, whichever is lower. |
| Options | 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. |
| Margin trading (MTF) | Interest 0.04% per day; MTF brokerage 0.3% or ₹20 per order, whichever is lower. |
| 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. |
How Zerodha counts the DP charge
- Rule
- Once per stock (ISIN) per day
- Broker's part
- ₹9.50
- Depository part
- ₹3.50 (women ₹3.25)
- GST
- 18% on the total
₹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.
Source: Zerodha support – What do DP charges mean?; Zerodha – Charges. Checked 30 September 2026. Compare every broker's rule in our DP charges guide.
Full fee schedule with sources
| Fee | Amount | Charged | Applies to | Source |
|---|---|---|---|---|
| Account opening | ₹0 | one-time | Resident individual | Zerodha – Charges |
| Account opening | ₹500 | one-time | NRI / corporate | Zerodha – Charges |
| Demat AMC – first year | ₹0 | first year | Resident individual accounts opened on or after 1 Jun 2026 (primary demat) (from 2026-06-01) | Z-Connect – Transfer charge refund and no AMC for the first year (2 Jun 2026) |
| Demat AMC | ₹0 a year | annual | BSDA, holdings up to ₹4 lakh | Zerodha support – What is the annual maintenance charge? |
| Demat AMC | ₹100 + GST a year | annual | BSDA, holdings ₹4–10 lakh | Zerodha support – What is the annual maintenance charge? |
| Demat AMC | ₹300 + 18% GST a year | annual, charged quarterly | Non-BSDA | Zerodha support – What is the annual maintenance charge? |
| Brokerage – delivery | ₹0 | per executed order | Resident individual | Zerodha – Charges |
| Brokerage – intraday | 0.03% or ₹20, whichever is lower | per executed order | Resident individual | Zerodha – Charges |
| Brokerage – futures (Equity F&O) | 0.03% or ₹20, whichever is lower | per executed order | Resident individual | Zerodha – Charges |
| Brokerage – options (Equity F&O) | ₹20 | per executed order | Resident individual | Zerodha – Charges |
| DP charge | ₹3.50 CDSL + ₹9.50 Zerodha + GST = ₹15.34 | per ISIN per day (sell) | Resident individual | Zerodha support – What do DP charges mean? |
| DP charge – women | ₹3.25 CDSL + ₹9.50 + GST ≈ ₹15.05 | per ISIN per day (sell) | Female first holder | Zerodha – Charges |
| MTF interest | 0.04% a day | on funded amount | Resident individual | Zerodha – Charges |
| Call & trade | ₹50 | per order | Resident individual | Zerodha – Charges |
Statutory charges (STT, exchange transaction charges, SEBI fee, stamp duty) and 18% GST are extra. Estimate a full trade in the brokerage calculator.
Platforms & apps
Zerodha runs its own platforms: Kite for trading on web and mobile, Console for reports and tax P&L, Coin for direct mutual funds, and Kite Connect, a paid API for algorithmic users.
- Mobile: Kite (Android, iOS)
- Web / desktop: Kite web, Console (reports), Coin (mutual funds), Kite Connect API
Research, support & margin
Research
Zerodha does not offer stock tips or research calls. It publishes free education through Zerodha Varsity.
Customer support
Support is through a ticket-based help centre and phone. Check Zerodha's support page for current channels.
Margin & MTF
Margin trading facility (MTF) is available at 0.04% interest per day, with MTF brokerage of 0.3% or ₹20, whichever is lower.
Pros & cons
Pros
- ₹0 brokerage on equity delivery
- Clearly published, easy-to-read charges page
- Mature in-house platforms (Kite, Console, Coin)
- Direct mutual funds with no commission
- Free education through Varsity
Cons
- No research calls or advisory
- ₹300/year + GST AMC on non-BSDA accounts
- Call & trade costs ₹50 per order
- Charges ₹20 per order on intraday and F&O, not the ₹10 some rivals charge
Who Zerodha suits
Self-directed investors who mostly buy and hold shares or ETFs, and traders comfortable with a ₹20-capped fee who don't need research or advice.
May not suit
Investors who want research calls, a relationship manager or branch support.
For beginners
Kite is clean and the Varsity modules are a good free way to learn. Beginners should start with delivery trades and avoid F&O until they understand the risk.
Ready to compare? Check Zerodha's current charges on its official page before opening an account.
Visit Zerodha websiteCompare Zerodha
Frequently asked questions
Is Zerodha delivery trading really free?
Zerodha charges ₹0 brokerage on equity delivery. You still pay statutory charges (STT, stamp duty, exchange and SEBI fees, GST) and a DP charge of ₹15.34 per stock per day when you sell (₹15.05 for women first holders).
Does Zerodha charge DP twice if I sell the same stock twice in a day?
No. Zerodha's support article says DP is charged per day, per stock: selling one company once or several times on the same day costs one DP charge.
What is Zerodha's AMC?
For non-BSDA accounts, ₹300 per year plus 18% GST, charged quarterly. Eligible Basic Services Demat Accounts pay nothing for holdings up to ₹4 lakh and ₹100 + GST for ₹4–10 lakh.
What are Zerodha's intraday charges?
0.03% or ₹20 per executed order, whichever is lower.
Is Zerodha SEBI registered?
Yes. Zerodha Broking Limited's SEBI registration number is INZ000031633. You can verify it on SEBI's website.
Sources
- Zerodha – Charges — accessed 30 September 2026
- Z-Connect – Transfer charge refund and no AMC for the first year (2 Jun 2026) — accessed 30 September 2026
- Zerodha support – What is the annual maintenance charge? — accessed 30 September 2026
- Zerodha support – What do DP charges mean? — accessed 30 September 2026
- SEBI – register of stock brokers — accessed 30 September 2026
- CDSL communiqué on SEBI's revised Basic Services Demat Account (BSDA) framework — accessed 30 September 2026
- SEBI press release: 93% of individual F&O traders incurred losses (FY22–FY24) — accessed 30 September 2026