Tuesday, September 4, 2012

Zerodha Review– Best Cheap and Reliable Broker Available.


http://zerodha.com/main/images/zerodha_logo.jpg

I get many requests for giving suggestion for Cheap (Low Brokerage ) and Reliable Broker from my readers. So from today onwards I will be reviewing the Cheapest ( in terms of lowest brokerage and Taxes and Charges) brokers for the sake of selecting broker for anyone who is in search of good Broker who is reliable and Cheapest one.

Today I am reviewing Zerodha who claims of Zero Brokerage Charges. I must tell my readers that I am trading with Zerodha and having account with them. (This is my one of the many accounts with brokers I have)

Zerodha  Review:-

  • About Zerodha:- Zerodha is probably first online only  brokerage house who is running online Trading Model. They get this credit of starting online Discount Brokerage Model. They Claim of Zero Brokerage .. rather they charge Rs 20/- Per Trade. (Irrespective of the Lot or Trade Size)

 

  • Brokerage and Charges:- Zerodha .. as they claim of Zero Brokerage.. rather they charge Rs 20/- Per Trade (Irrespective of the Lot or Trade Size). For example :- If you Buy and Sell one lot of Nifty Future they you will get charged only Rs 20/-+ Rs 20/- i.e. Rs40/- as brokerage and If you buy and sell 10 (or 100 Lots) of Nifty you will get charged the same 20+20=40 only. So this is the difference. Transaction Charges are bit high as compared to some other brokers. Stamp Duty is charged Rs 50/- or o.01 % whichever is lower(for the whole contract note) so if you have more trades(more volume) in a day then you can save a lot in Stamp duty.

 

  • Service :- They are having excellent team for Customer Support. I must admit that I have got reply/ Resolution to my queries/ Complaints if sent in working hours within maximum 30 mins. Most of the time I have got reply within 5 to 10 mins. So as far as service is concerned excellent service they give.

 

  • Research Tips/ Calls:- Zerodha does not provide any research tips or calls. So this is bad News for those who trade on Broker’s Calls or Tips. But I think this platform is excellent for those who trade on their own or from any other source.

 

  • Trading Platform:- Zerodha is providing NSE NOW for trading in NFO/NSE Cash and Zerodha Trader (Nest Trader) for MCX. So it is bit difficult for a Trader who want all under one platform as they need to Infuse Different Funds for MCX and NFO/ NSE. But now good news for these traders they have promised that they will make all NFO/NSE Cash / BSE and MCX segments under one platform from 3rd September 2012. As far as trading platform NSE Now is having fast execution and rates come faster as compared to various other brokers own platforms. And as far as Zerodha Trader (it is nothing but NestTrader from OmneSys Technologies who have made NSE NOW also) is concerned it is also having fast execution and Rates are appearing faster as they have Colocated the servers near Exchange Servers.

 

  • Charting:-  Zerodha Trader Provides NestTrader Platform for Trading.  Here they are providing Intraday Charts for analysis inbuilt in NestTrader. But with now additional NestPlus Plugin(By  Omnesys )you can get IEOD Charts i.e. Historical Intraday Charts till 22 days for free and Historical EOD charts also with various Indicators. I must admit that these are still not at par as compared with TradeTiger.

 

  • Account Opening:- Very Fast, mostly on second day after reaching your form and documents at their office if all are ok.

 

Conclusion:-   So we TraderAdda Team give 8/10 points to Zerodha and one can go with them for their Superior Service and Cheapest Brokerage Plans.

For those who want to Open A/C with Zerodha Can quote my reference ID MHDS0469

Any queries are welcome.

Disclaimer:- I may get Some benefit if you quote my reference while opening your account with them.


For Further Reading,
Broker Review, Cheap Brokers, Low Cost Broker

2 comments:

Naveen on August 31, 2015 at 11:06 AM said...

Now other brokers like rksv offering 9 rs flat per trade , zerodha has to do something extra now

Samantha Pollack on January 12, 2017 at 8:48 PM said...

I think Zerodha is good if you are heavy trader and can do you technical analysis on your own.

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