Demat Account

ICICI Direct Overview- ICICI Direct is the broking brand of ICICI Securities Limited and both, ICICI Direct & Securities, are a part of ICICI Bank Limited. 

ICICI Direct is a full-service stockbroker. The full-service products and services offerings include;

• Investing/ trading in equities and derivatives
• Comprehensive research  advisory &  reports 
• ETF, IPO, SIP, and mutual fund investment
• Insurance and wealth management services
• Financial planning & investment
• Portfolio management services
• Loans, FD, and bond products

However, the brokerages for trading high volumes are much higher at ICICI Direct. The charges are 0.275% for intraday trades. 

This comes to Rs. 275 (1,00,000 x 0.275 / 100) for a single intraday trade of Rs. 1 Lakh which is very high when compared to discount brokers who charge a flat Rs. 20 brokerages. 

About ICICI Bank

ICICIdirect is the largest full-service broker in India with more than 50 lakh customer base. ICICI Direct has 170+ branches across India.

ICICI Direct provides more than 50 services such as Stocks, IPOs, Mutual Funds, and Wealth Management. You can also apply for a loan with ICICI Direct for your funds requirements. ICICI Direct 13 types of loans like home loan, personal loan and gold loan.

You may be intestered in – Upstox discount broker review

ICICI Direct Brokerage Charges 

ICICI Direct offers three brokerage plans;

1.  i-Secure Plan
2. Prepaid Brokerage Plan
3. ICICI Direct Prime

Brokerage charges for  i-Secure Plan;

A variable percentage of brokerage is charged on the basis of quarterly turnover. Higher the turnover, lesser will be the brokerage.

Trading Type	Brokerage Charges
Equity Delivery	0.55% (including buy and sell)
Equity Intraday	0.275% ( the second leg is not charged)
Equity Futures	0.050% plus a flat brokerage of Rs. 50 on the second leg
Equity Options	Rs. 95 per lot plus a flat brokerage of Rs. 50 on the second leg
Currency Futures	0.050% plus a flat brokerage of Rs. 10 on the second leg
Currency Options	Rs. 25 per lot plus a flat brokerage of Rs. 10 on the second leg

The brokerage for Margin and Margin Plus under the  i-Secure Plan is 0.050%.

Brokerage charges under Prepaid Brokerage Plan;

Prepaid Plan	Cash	Intraday  Futures	Options (per lot)	Currency F&O	Commodity Futures
5,000.00	0.25%	0.025%	Rs. 35	Rs. 20 per order	Rs. 20 per order
12,500.00	0.22%	0.022%	Rs. 30	Rs. 20 per order	Rs. 20 per order
25,000.00	0.18%	0.018%	Rs. 25	Rs. 20 per order	Rs. 20 per order
50,000.00	0.15%	0.015%	Rs. 20	Rs. 20 per order	Rs. 20 per order
1,00,000.00	0.12%	0.012%	Rs. 15	Rs. 20 per order	Rs. 20 per order
1,50,000.00	0.09%	0.009%	Rs. 10	Rs. 20 per order	Rs. 20 per order

Brokerage charges under ICICI Direct Prime Plan;

Prime Plan	Scheme validity	Delivery brokerage	Intraday Futures	Equity Options	Currency F&O
Rs. 299	365 days	0.27%	0.027%	Rs. 40 per lot	Rs. 20 per order
Rs. 999	365 days	0.22%	0.022%	Rs. 35 per lot	Rs. 20 per order
Rs. 1,999	365 days	0.18%	0.018%	Rs. 25 per lot	Rs. 20 per order
Rs. 2,999	365 days	0.15%	0.015%	Rs. 20 per lot	Rs. 20 per order

ICICI Direct Account Opening & Annual Charges 

You can open a 3-in-1 (demat + trading + bank) account with ICICI Direct. You need to have an account with ICICI Bank. 

The trading account will be with ICICI Securities Limited. Whereas, the bank and the demat account will be maintained with the ICICI Bank.  

Charges for opening an account are as under;

Particulars	Charges
Trading and Demat account opening charges	Rs. 0
Trading account annual maintenance charges	Rs. 0
Demat account annual maintenance charges	Rs. 700

ICICI Direct Available Margins

The information on margins for various trade types is not available on the ICICI Direct website.

The below information on the margins is collected from different websites. Please take due care for the while using the below information. 

Segment	Margin
Equity Delivery	5X
Intraday Equity	Up to 25X depending on the stock
Equity Futures	4X
Equity Options	2X

ICICI Direct Demat & Trading Account Features 

#1. High Brokerage Charges

ICICI Direct is a full-service broker with a lot of other value-added products and services such as research advisory and portfolio management. 

All of which helps you in handholding, trading and investing smoothly. This involves a higher cost of services. 

The brokerages on delivery trade are 0.55%. That means if you do trading of one lakhs of rupees (both buy & sell), your brokerage comes to 1,00,000 x 0.55 / 100 = Rs. 550. 

This is far more than the Rs. 20 x 2 (for buy & sell) = Rs. 40 at discount brokers.

#2. Research Advisory

ICICI Direct offers research reports and services that include:

• Pre-market views on momentum pick and derivatives
• Intraday recommendations on derivatives strategies and trends
• Monthly outlook on technicals, derivatives, and mutual funds
• Long-term recommendations on companies, investments & model portfolio

The period of different reports is from daily to yearly. 

#3. A Lot of Services & Products

ICICI Direct has a whole range of trading services. One can trade in Equity, Stock derivatives, Currency, Bonds, and ETFs.

Apart from that, you can invest in Mutual Funds, IPO/FPO/Buybacks, and Insurance products. ICICI Direct also helps you to get loans, tax assistance, eLocker and opening an NPS account.

ICICI Direct offers Financial Planning, Wealth Management, and Portfolio Management services. It has NRI & Corporate services too. 

#4. Trading Platform

Traders have access to ICICI Direct’s “Trade Racer” trading platform. Trade Racer platform is available:

• In the webform
• Desktop application form
• Mobile App form  

ICICI Direct Trading Platforms

#1. Trade Racer 

You get a “Trade Racer” trading platform when you open an account with ICICI Direct. You have to download the software in your system (laptop or desktop).

Trade Racer has Trend Scanner to help you identify real-time trading opportunities. The scanner tools are based on pre-defined technical parameters that you can set according to your trading needs. 

Trade Racer also offers “Heat m Maps” for spotting price movements. 

Further, the Live Scanner tool on the Trade Racer helps you identify scrips nearing days, week, month, 3 month and year high or low prices. 

However, the platform is bulky and loads slowly. ICICI Direct also sends too many trade calls and tips that can be overwhelming.

#2. Trade Racer Web

Trade Racer Web is a browser based trading platform that provides you the most of the features that Trade racer software offers such as Trend Scanner to analyse trading opportunities.

You can shortlist up to 100 stocks in 5 watchlists (20 scrips per watchlist) for quick analysis of your favourite stocks.

You can also check Current Limit, Best 5 bid/offer under a single window for quick order placement in Stocks and F&O.

#3. ICICI Direct Mobile

ICICI direct Mobile (earlier ICICI Trader) allows you to view latest quotes, track your portfolio and analyze market movements on the go.

You can also get live research calls and heat maps to spot price movements in your smartphone. ICICI direct Mobile can map your fingerprint for login that enhances the app security.

App is lightweight and fast but you may face automatic log outs at times.

ICICI Direct Customer Care 

#1. Customer Service

Indian Customer Helpline	NRI Customer Helpline
1860 123 1122	+91- 22-3914 0422

Enter your trading account number in IVR to connect with the representative.

You can contact the helpline between 8.30AM to 6.00 PM from Monday to Friday.

#2. WhatsApp Service

You can message “Hi” on 9833330151 to avail Whatsapp service if you have subscribed to the WhatsApp service. If not, you can use this link to subscribe.

ICICI Direct has introduced WhatsApp 24 x7 service that allows you to resolve your investment related queries through chat.

You can chat about different services information such as your holdings summary across different segments, live stock prices, and many more.

#3. Grievance Redressal 

• Level-1 Grievance – for first-time complaint 
• Level-2 Grievance – If Level-1 couldn’t resolve your issue
• Level-3 Grievance – If Level-2 couldn’t resolve your issue

Benefits of ICICI Direct Demat and Trading Account

• 3-in-1 trading account
• Instant payout of the stock sold through eATM
• Research  advisory & reports
• Other value-added services

Cons of ICICI Direct Demat & Trading Account 

• High brokerages
• Need to have ICICI Bank account
• Rs. 700 annual AMC charges

ICICI Direct Account Opening

The account opening can be completed online. Existing ICICI Bank account holders need to link their existing accounts while opening a 3-in-1 account.

For a person new to ICICI the process is a bit lengthy, requiring you to open a new bank account, register for a Digi locker and then open the broking account. 

The S steps for opening a new trading account is as follows:

Step 1: 

First, you need to create an account at ICICI Direct website for an application and. Provide details of PAN, date of birth, and name to create an account. The account so created can be used to make an application for a 3-in-1 trading account.

The benefit of the application account is that – if you are not able to complete the application then you can log-in the next time and resume the application for from the point you left.

Step 2: 

Next, you will be prompted for ICICI Bank account details. Existing ICICI b Bank account holders can provide the details, link their existing bank account a proceed ahead with the opening of the trading account.

Persons new to ICICI Bank need to select the option “Don’t have ICICI Bank Account” and click continue. 

Step 3:

ICICI uses DigiLocker to retrieve your KYC documents for verification.

So, before you proceed any further you need to either provide your DigiLocker information if you have one or create a DigiLocker account and upload your KYC documents. 

DigiLocker is a government cloud service that digitally stores all your documents safely that can be accessed anywhere anytime. 

Step 4:

After that you have to You have to proceed with Aadhaar eKYC for online Aadhaar Verification

Enter your mobile number linked with Aadhaar card, you’ll get OTP on your registered mobile number. 

Once submitting the OTP, a XML file will be downloaded to your laptop or desktop from where you are filling the form.

Upload the file as shown below.

Step 5:

Now upload your documents such as PAN Card, blank cheque and signatures. You can do signatures on a blank paper and then scan the image.

Now scroll down to enter your personal details and click on “Submit””.

Step 6: 

Capture your Live Photo using webcam if you are applying from your system (laptop or desktop) or you can use your smartphone front camera if you are applying from mobile phone.

After capturing your image, click on “submit”.

Now you’ll have to enter your email address for verification, you’ll get an OTP on your given email address.

Step 7:

Final step is to eSign your application as shown below. Click on “I Accept & eSign”.

By this time the bank account gets created simultaneously and you can proceed ahead with the trading & Demat account opening.

Next, you need to link your bank account, open a new or link an existing d Demat account, fill in the personal details and be ready for in-person verification on the webcam.

After which you will be required to digitally sign documents using Aadhaar OTP. 

Comparison Between ICICI Direct and Zerodha

In 2020, Zerodha overtook ICICI Direct to become the largest stockbroker in India with more than 50 lakh client base. Let’s have a quick comparison between Zerodha vs ICICI Direct.

	Zerodha	ICICI Direct
Broker Type	Discount Broker	Full-Service Broker
Brokerage offer	Low Brokerage	High Brokerage varises with plans
Account opening charges	Equity – Rs. 200 Commodity – Rs. 100	No account opening charges
Maintenance charges	Rs. 300 per year	Rs. 700 per year
Services available	Stocks, Mutual funds, IPOs	Stocks, Mutual Funds, IPOs, Loans & NCDs
Trading plans	No	Yes. Multiple plans
Branch offices	No	175 branches in India.
Margin on Equity Delivery	No	Yes

Conclusion (Final Review)

You should consider ICICI Direct broking only if you are an existing account holder with ICICI Bank. That way you have all the three accounts (demat, trading, and bank) at a single entity.

New traders who require hand holding, research services and do not mind paying a higher brokerage fee, also can opt for an ICICI Direct trading account.

FAQs

#1. Can I open an ICICI Direct account online?

Yes, you can open an ICICI Direct account completely online. I have explained the process under account opening head above in the article. 

#2. How to close an ICICI demat account online?

ICICI hasn’t provided any direct online process to close the demat account. You can read our complete article on “how to close ICICI demat account online and offline” for better understanding the process.

Zerodha has a streamlined online account opening process that would take a maximum 15 minutes to complete your account opening application. 

You only need to keep all the required information handy and a working Webcam for IPV verification. You can use your mobile front camera for IPV verification. 

In this article I have explained the step by step process to open a Zerodha demat & trading account online and offline. 

Let’s first check out the documents required to open a Zerodha account.   

Prepare for Opening Zerodha Account

#1. Documents Required

• PAN card
• Address Proof – Aadhaar Card/Voter Id/ Driving License/Passport
• Income Proof – Submit income proof if you want to trade in commodities

#2. Cancelled Cheque

You need a personalized cancelled cheque to link your bank account with Zerodha account.

Personalized means your name should be printed on the cheque.

If you don’t have a personalized cheque, you can produce your Bank statement or Bank passbook but both must have the IFSC and MICR codes.

#3. Mobile Linked With Aadhaar Card

Make sure your mobile number is linked with your Aadhaar card for KYC completion. Zerodha will verify your Aadhaar card details to open your account online.

If your mobile number is not linked with Aadhaar, you can follow the offline process but it’s better to link the mobile number first and then apply for a hassle free account opening process.

Offline account process carries an additional charges of Rs 300 and takes upto 2 days for account opening. 

#4. Working WebCam

You need to capture your live video for IPV verification for only account opening. If you are filling the zerodha form online through laptop or desktop, then make sure your webcam is working properly.

If you are using your smartphone for filing the application, then you can use your front cam for IPV verification.

#5. Scanned Documents

You must keep ready scanned copies of your PAN Card, cancelled cheque, income proof (if you want commodity trading account), signature on blank paper.

If you are using a smartphone, then you can click photos of your documents before applying. Make sure your clicked photos show clear details.

Also read – Best discount brokers in India

How to Open Zerodha Account Online (With Aadhaar KYC)

Step 1: Visit Zerodha Portal

Click here to visit the account opening page and enter your mobile number. Click on continue button. 

Step 2 : Mobile Number and Email ID Confirmation. 

#1. Mobile Number Confirmation

You will receive an OTP (One Time Password) for mobile number confirmation.

Enter the OTP, and click on ‘Confirm’.

You will be redirected to another page to fill in your details.

#2. Email Address 

Enter your Full name, email id and Click on ‘Continue’. You will receive an OTP on your email id.

enter that OTP and click on ‘Continue’.

Step 3: Enter Pan Card Number 

Enter your PAN card number and click on “Continue”.

Step 4: Fees To Be Paid

You have to enter your account opening fee. You get 2 options here –

• Equity: 200 rupees
• Commodity: 100 rupees

Equity is a must if you want to invest in the stock market. The commodity is optional. You can go with the commodity option if you want to trade in commodities.

You can select either UPI or Netbanking/Cards/wallets to pay the fee. Enter details and click on ‘Pay & Continue’.

Step 5: Aadhaar KYC

Once the payment process is completed, you’ll be redirected to the Aadhaar KYC page where you’ll click on “Continue to Digilocker”.

Enter your Aadhaar number and click on “Next”.

You’ll receive an OTP on your mobile number linked with Aadhaar card. Enter the OTP and click on continue.

Click on “Allow” to allow digilocker access your documents and personal information.

You’ll see a dialogue box of “Success” and you’ll be redirected to the next section.

Step 6: Enter Personal Details

Enter your personal details like parents name and your marital status.

Enter your occupation details and click on continue.

Step 7: Bank Account Details

Once the payment process is completed, you must enter the bank account details such as savings account number and IFSC code.

Step 8: In-Person-Verification (IPV)

Now you have to complete your In-Person-Verification.

If you are filling in your form from your smartphone you can use the front camera to complete the verification.

Otherwise, you need a webcam if you are filling through a desktop or laptop.

Write the shown OTP on blank paper or your mobile phone screen and stand in front of the webcam. Click on “Capture”.

Your face and OTP both must be in the frame and visible.

#9. Upload Your Document Proofs

#1. Upload Bank Proof

Canceled Cheque – Upload a personalized Canceled Cheque as bank proof. 

A personalized canceled cheque is that cheque that has your name printed on it and you write a big “CANCELED” across it.

Bank Statement – You can also upload a bank statement if you don’t have a personalized cheque. But make sure your bank statement must contain –

• Your name
• Bank account number
• IFSC and MICR codes

#2. Income Proof

If you want to trade in the Future and Options, you have to upload the latest income proof. 

That could be – 

• Copy of your latest ITR
• Last month’s salary slip
• 6 months bank statement

Upload your signatures and copy of PAN card

Step 8: E-Sign Application

You have to digitally sign the application using your Aadhaar card and click “Continue”.

You’ll be redirected to the “Digio” website to save your documents and e-sign the form. You can login in “digio” using your gmail or any other email address. 

You’ll get an OTP if you choose other email address option.

Tick the checkbox and Click on “Proceed to esign”

NSDL Verification

You’ll be redirected to the NSDL website for Aadhaar verification. Enter your Aadhaar number and click on “Send OTP”.

You’ll receive OTP on your mobile number linked with your Aadhaar card. Make sure your mobile is already linked.

Fill in the OTP and click on verify OTP. 

A new window will be opened and You’ll see an application form. Scroll down to click on “Sign now”. 

You’ll see a dialogue box with “Successfully completed”. That box will be automatically closed.

Click on the “Finish” button on the right side of the page.

Your account will be opened within 48 hours of application submission. You’ll get a welcome email on your registered email id.

Check out – Upstox trading account review

How to Open Zerodha Account Offline (Without Aadhaar KYC)

If you do not have an Aadhar card or your Mobile Number is not linked with Aadhaar card, then you can open the Zerodha account through an offline process.

Step 1: Download the Application Form

You can download the application form Zerodha Demat & Trading account and print on the A4 size papers.

If you have to open the Commodity account, you’ll need a separate application form for the commodity account. 

Step 2: Fill the Form 

Now duly fill the form as per the directions mentioned on the form. Enter your Name, Parents name, PAN card number, Date of Birth carefully as per your identity proof.

Step  3: Attach Documents

Attach the self attested copies of the documents mentioned below with application form –

• PAN card
• Address Proof – Aadhaar Card/Voter Id/ Driving License/Passport
• Canceled Cheque – personalized cheque having “Cancelled” written across it, 
• If you don’t have the personalised cheque, then you can upload the Bank Statement having both the IFSC and MICR codes.
• Income Proof – Submit income proof if you want to trade in commodities

Also mention your annual income, occupation, marital status, and mother’s name on PAN photocopy.

Step 3: Attach Account Opening Fee Cheque

Attach a cheque payable to ‘Zerodha Broking Ltd’ payable at Bangalore 

Equity Account	Commodity Account	Both (Equity +Commodity)
Rs. 400	Rs. 200	Rs. 600

You will have to pay a double fee as compared to the online process for offline process. Your account will be opened within 15 days after they receive your documents. 

Go for offline account process only if your mobile number is not attached with Aadhaar and you are not planning to attach in near future as well. 

Step 4: Dispatch the Form

Courier the duly signed forms along with required documents to the below-mentioned address.

Zerodha

#153/154, 4th Cross

Dollar’s Colony, Opp. Clarence Public School,

JP Nagar 4th Phase, Bangalore-560078.

Final Words

That’s it. I hope you have understood the whole process to open a Zerodha account. 

Let me know if you still have questions in the comments section. 

Upstox is the fastest growing discount broker in the last 2 years and recently has become the 2nd largest discount broker in India with a 20 lakh client base.

Upstox has evolved to ease its customers with technology, whether it’s providing an All-in-One app that allows you to track all your investments at one place like stocks, mutual funds, digital gold, and IPOs.

Upstox is going to launch global investments through its trading platforms. Upstox will be the first discount broker to provide global investment opportunities. 

Upstox also offers a 3-in-1 account (savings, demat, and trading) in collaboration with IndusInd bank. They call it the Industox 3-in-1 account.

You can trade from the same account and also earn interest on the unallocated money. All of your 3 accounts will be opened in one application process. 

Zerodha also offers a 3-in-1 account with IDFC, but for Zerodha 3-in-1 account you first need an IDFC savings account to convert the account into 3-in-1. 

Let’s have a quick look at the Upstox pros and cons before moving to the detailed Upstox review

Pros of Upstox

• Low brokerage fee
• Zero delivery charges 
• Timely offers like free account opening, zero brokerage for 30 days 
• Fast trading platform 

Cons of Upstox

• Poor customer support service

Upstox Charges 

#1. Upstox Account Charges

Type of Charges	Details
Account Opening Charges	Usually Free (Currently Rs. 99)
Maintenance Charges	Rs. 300 annually (Rs. 25 per month)

Note – Upstox has recently revoked its “Priority Pack” which was a premium trading pack with more leverage benefits to comply with SEBI’s new norms.

#2. Upstox Brokerage Charges 

Upstox charges lower of Rs. 0.05% or Rs. 20 per executed order. For example, if you make a trade with volume Rs 10,000 then the brokerage charges would be Rs 5

Lower of Rs 20 (fix brokerage) or 0.05% of 10,000 = Rs 5

If you make a trade of Rs. 1,00,000, then the brokerage would be Rs. 20, not Rs. 50 because fixed charges would be applicable.

Segment	Brokerage Fee
Equity Delivery	Free
Equity Intraday	Rs. 20 per executed order or 0.05% (whichever is lower)
Equity Futures	Rs. 20 per executed order or 0.05% (whichever is lower)
Equity Options	Rs. 20 per executed order
Currency Futures & Options	Rs. 20 per executed order or 0.05% (whichever is lower)
Commodity F&O	Rs. 20 per executed order or 0.05% (whichever is lower)

#3. Other Charges

• Demat Transaction Charges (DP Charges)- Rs. 18.5 (on the selling of stocks in delivery)
• Contract Note charges – 0.01% on equity delivery purchase
• Pledging/Unpledging Charges – Rs.50
• Call and Trade Charges – Rs. 20 per order
• Auto Square-off charges – Rs. 20
• Payment gateway charges – Rs. 7 per transaction except for UPI (No charges on UPI)
• Delayed Payment Charges – Interest charged 18% a year 
• OFS and Buyback offer charges – Rs. 50
• Mutual Funds Commission – Zero
• GST – 18%

About Upstox 

Earlier Upstox was known as RKSV securities. In 2016, RKSV Securities Ltd. renamed itself to  “Upstox”. RKSV started the discount brokerage business in 2011. 

Upstox has emerged as a technology-centric brokerage firm. Upstox has a vision of “Mobile-first”, which focuses on providing trading and investing facilities through mobile apps.

Ratan Tata and Tiger Global funded Upstox for technology innovation for easy trading. Ratan Tata has a 1.33% stake in Upstox. Which makes Upstox a trustable discount broker. 

In 2020, Upstox became the 2nd largest discount broker in India after Zerodha.

Upstox is going to launch an International stock investment facility through Upstox Pro trading platforms, probably this year. 

Upstox Margin Details 

Intraday Order Margins

Segment	Margin Leverage
NSE/BSE Cash	5X
Index Futures	2X
Stock Futures	2X
Index Option Sell	2X
Stock Option Sell	2X
NSE Currency	2X
MCX Future	2X

CO/OCO Order Margins

Segment	Margin Leverage
NSE/BSE Cash	5X
Index Futures	2X
Stock Futures	2X
Index Option	2X
Index Option Sell	2X
Index Option Buy	1.33X
MCX Future	2X

Upstox Trading Platforms

#1. Upstox Pro Web

Upstox Pro Web is an HTML-based trading platform to use on desktops or laptops.

Pro Web uses socket technology that provides real-time market data with a faster refresh rate.

Upstox Pro Web offers 107 technical indicators and several charting features such as oscillators, candlesticks to understand market trends efficiently. 

You can also pre-set your order preferences and quickly place orders during high volatile times. 

Upstox Pro web allows you to drag and drop any stock script and check the details instantly.

Pros of Upstox Pro Web

• 100+ technical indicators
• The faster refresh rate to provide real-time market data
• Drag and drop scripts for instant access
• Historical data of last 10 years
• Keyboard shortcuts for quick navigation

Cons of Upstox Pro Web

• Not found any

#2. Upstox Pro Mobile

Upstox Pro mobile is a lightweight app that is fast and easy to use. You can easily keep track of price movements and your trading orders on the go. 

Pro Mobile is one place to invest in stocks, mutual funds, digital gold and even IPOs. You can subscribe to the IPO from the same app. Other discount brokers like Zerodha don’t provide IPO investment through mobile apps. 

You can check out various charting options such as Candlesticks, Bollinger bands to analyze market movements. You can also view OHCL (Open High Close Low) data to make better decisions while trading.

Pros of Upstox Pro Web

• Lightweight app
• Real-time market data
• One-stop-shop for stocks, IPOs, mutual funds, and digital gold
• OHCL checking facility

Cons of Upstox Pro Web

• App crashes sometimes during peak hours
• Sometimes user logout automatically

Upstox Additional Product  

#1. Upstox MF

You can buy mutual funds directly from the Upstox website or mobile app without paying any commission.

Upstox provides you more than 2,000 mutual fund schemes to choose from.

Upstox has categorized available mutual fund offers as Collections. 

Mutual Fund Collections have 4 categories –

• Tax saver funds
• New funds offerings
• Low risk 
• Growth booster

#2. Algo Lab for AmiBroker Users

You can use Upstox AlgoLab for creating, backtesting, and implementing trading strategies. AlgoLab is also connected with Amibroker.

If you are an Amibroker AFL user, you can place an order on Upstox directly from the Amibroker platform. Upstox Algo Lab works as a bridge between Amibroker AFL and Upstox Pro applications for faster trading.

You can create strategies with Amibrokers AFL platform and place orders on Upstox in no time. You can view order signals directly from your Upstox pro web or mobile app.

Upstox charges extra tor such a services and reports 

Service	Charges
Receive order signals from Amibroker to Upstox in AlgoLab	Rs. 500 per month
Realtime NSE Cash data	Basic Data – Rs. 990 per month  (for 25 symbols. 1 Minute History of 1 monthAnd Daily history of 7 Years) Pro Data – Rs. 1490 per month(for 35 symbols. 1 Minute History of 3 months and Daily history of 12 Years)
Realtime NSE F&O data	Basic Data – Rs. 990 per month  (for 25 symbols. 1 Minute History of 1 monthAnd Daily history of 7 Years) Pro Data – Rs. 1490 per month(for 35 symbols. 1 Minute History of 3 months and Daily history of 12 Years)
NSE and F&O combined data	Basic Data – Rs. 1790 per month  (for 50 symbols. 1 Minute History of 1 monthAnd Daily history of 7 Years) Pro Data – Rs. 2690 per month(for 75 symbols. 1 Minute History of 3 months and Daily history of 12 Years)

Upstox 3-in-1 Account Review

Upstox offers 3-in-1 accounts in collaboration with IndusInd Bank. The 3-in-1 account offers you savings, demat, and trading account in one place.

You get a Zero balance account with up to a 6% interest rate on the deposited funds.

You can open the 3-in-1 account while opening your Upstox account or you can visit the link to open the 3-in-1 account if you already have an Upstox account.

Benefits of Upstox 3-in-1 account

• 6% interest on your trading account funds
• Smart transfer to instantly allocate funds for trading hassle-free
• Titanium debit card to earn up to 6X rewards points per Rs. 200 spent
• Redeem rewards against brokerage
• You can set the bank account number of your choice such as your mobile number
• 10 call and trade orders free every month

Upstox Customer Care

Upstox has below-average customer support. You have to reach out to their representatives many times to get your issue resolved.

Upstox offers 3 ways to reach out to their support team.

#1. Through Chat

You can chat with their bot to get quick answers to your queries. Chatbot has some pre-defined questions and answers. You can get a quick answer to your specific question. 

But if you have a major issue, you can follow the next two steps.

#2. Raise a Ticket

You can raise a ticket with Upstox to reach out to customer support. 

You can fill in the required details to submit your complaint. 

The customer representative will call you to assist. You have to contact them multiple times to get the issue resolved.

#3. Call Center

You can call the customer care based on your query. 

Account Opening	Trading Support
022 4179 2991 022 6904 2291 022 7130 9991	022 4179 2999 022 6904 2299 022 7130 9999

Upstox Advantages

• Low brokerage charges up to Rs. 20 per order
• Timely offer like free account opening, Zero brokerage for 30 days 
• Free equity delivery
• Improved faster trading platform 
• Only discount broker with a proper 3-in-1 account
• Invest in gold, IPOs, and mutual funds from App
• Amibrokers users can trade on Upstox directly from the Amibroker platform

Upstox Disadvantages

• Poor customer support
• No third party investment services available like Sensibull, SmallCase, and GoldenPi

Upstox Account Opening Process

Step 1: Visit Sign-up Page

Visit the Upstox signup page. Enter your email address, mobile number and click on ‘Send OTP’. 

Fill in the One Time Password (OTP) received on the mobile number you entered and click on ‘Sign up’.

Step 2: Enter Personal Details

Enter your PAN card number, Date of birth, and click on “Next”.

Now enter your personal details like marital status and occupation.

Now tick on the checkboxes to give your declaration and click on “Next”.

Step 3: Enter Bank Details

Fill in your name as per your bank account, bank account number, and IFSC code.

Select the account type such as “Savings” and click on “Next”.

Step 4: Upload Signature

First, write down your signatures on blank paper and scan the signature or click a photograph from your smartphone.

Now upload that scanned image on the portal. Follow the steps below.

Step 5: Complete In-Person Verification (IPV)

To complete the IPV process you can take your live photo in two ways –

• Use your webcam if you are uploading through a laptop
• Take a selfie if you are signing up through your smartphone.

Click on “Take a picture”, then click on “Proceed” and once the picture is clicked, then click on “Accept”.

Now Click on “Share location”

Step 6: Confirm your email address

After IPV, you have to confirm your email address once again. You’ll get an “OTP” on your email address.

Enter the OTP and Click on “Next”.

Step 7: Aadhaar Verification

Click on “Sign up for FREE” and click on “Yes” at the bottom 

Click on “Continue”.

Again click on “Continue”.

e-Sign Your Application 

Click on “e-sign with Aadhar OTP”.

Click on “e-sign now”.

You’ll get a security code on your mobile number registered with Upstox.

Enter the Security Code and Click on “Submit”.

You can see your application form now. Click on “Sign now” button at the bottom.

Now you’ll reach the NSDL website for your Aadhaar verification.

Click on the “checkbox”  for your consent and enter your Aadhar number in the bottom box.

Click on “Send OTP”.

You will receive OTP on your mobile number linked with Aadhar Card.

(Make sure your mobile number is working to receive the OTP)

Enter the OTP received on your mobile number linked with Aadhar Card. Click on “Verify OTP”.

Done.

Upstox will open your account within 2 working days after reviewing your application.

Final Words – Why You Should Open an Upstox Account?

Upstox caters to all your investing needs in your app such as IPOs, stocks, and mutual funds. 

You can also utilize their 3-in-1 account to have multiple benefits. Like, you can allocate money for trading in one click and your unused money will earn interest. 

If you need a one-stop solution to your investing needs, then Upstox is a good choice for you.

Their below-average customer support is the only turn-off. As Upstox has improved in terms of the trading platforms. We can hope to upgrade their customer service in the future.

 FAQs

#1. Is Upstox safe?

Yes. Upstox is registered with SEBI (Securities and Exchange Board of India) which makes upstox a safe option.

#2. Is Upstox Pro free?

Yes. Upstox Pro is a trading platform which isis totally free to use but you need an Upstox demat and trading account to access it.

#3. Can I buy an IPO through Upstox?

Yes. You can buy an IPO through the Upstox Pro web or mobile app.

#4. Can NRI open an Upstox account?

Yes. NRIs can open accounts with Upstox. You need the following documents to open an NRI account.

• Passport Copy
• Valid Visa Copy
• Pan Card (mandatory irrespective of residential status)
• Identity Proof – Pan card, Driving license, Voter card, Overseas Citizen of India card.
• Overseas Address Proof –  Driving License,Bank Statement,Lease/Rent Agreement. Utility Bill
• Indian Address Proof (optional for foreign citizen) – Aadhar Card/Voter ID/Driving License/Bank Statement/Utility bill
• Photograph 

#5. How Upstox deduct AMC charges?

Upstox deducts AMC charges on a monthly basis. Upstox AMC charges are Rs. 25 per month.

#6. How do I get an Upstox TPIN?

• Go to the CDSL website. 
• Enter your BO ID (Demat Account Number) and Pan card number
• Once you have entered the above details, you’ll get an OTP on the mobile number linked with your Upstox account.
• Enter the OTP. That’s it.
• You’ll receive the TPIN on your registered mobile number and email ID.

#7. Can I close my Upstox account online?

No. You can’t close the Upstox account online. You have to download the Upstox Account Closure Form. 

Duly fill the form and to their corresponding office.

RKSV Securities India Private Limited, 

Salasar Business Park, 

Off 150 Feet Flyover Road, 

Bhayander West, 

Thane, Maharashtra 401101.

#8. Where to send an Upstox closure form?

You can send the account closure form to the corresponding address given below.

RKSV Securities India Private Limited, 

Salasar Business Park, 

Off 150 Feet Flyover Road, 

Bhayander West, 

Thane, Maharashtra 401101.

#9. When will Upstox global investment start?

Upstox has not revealed the launch date of the Upstox Global Investment Platform.

#10. Which is better: Upstox or Zerodha?

Both are good in terms of low brokerage service.

Upstox is good in providing new facilities to its clients such as digital gold investment, 3-in-1 account, and now about to launch global market investment through the app.

Zerodha is better in customer support and they provide better value-added services such as Sensibull for options trading, SmallCase for strategy-based investing. They also have a dedicated education platform to learn stock investing.

#11. Which is better: Upstox vs Angel broking?

Upstox is better in providing discount brokerage services whereas Angel broking is a full service broker that is ideal if you want research based advisory tips.

Angel broking has better customer support as compared to upstox.

Zerodha is the leading stockbroker in India with the highest client base of over 50 lakh users. 

Zerodha started the discount brokerage model in 2010 to provide brokerage services at cheaper rates. 

Earlier, full-service brokers like Motilal Oswal, Sharekhan, or ICICI Direct were charging very high percentage based brokerage plans. You can see such plans today as well, like ICICI Direct charges 0.55% on stock delivery and 0.275% on intraday. 

Zerodha was the first to offer a flat fee of Rs. 20 per order irrespective of the trade volume. 

Let’s have a quick go-through with the Pros and Cons of Zerodha before we go into a detailed review discussion.

Pros

• Low brokerage fees
• Free stock delivery 
• Easy to use advance trading platforms
• Fast account opening process
• Good customer support

Cons

•  Sometime servers slow down during the peak trading hours

Zerodha Charges Details 

#1. Zerodha Account Charges 

Type of Charges	Details
Account Opening Charges	Equity – Rs. 200 Commodity – Rs. 100
Maintenance Charges	Rs. 300 annually (Rs. 75 per quarter)

If your mobile is not linked with your Aadhaar card, you can open the account offline but you have to pay higher  charges

• Offline account opening charges – Equity: Rs. 400 and Commodity: Rs. 200

So, I would suggest you to open the demat and trading account online which would take 24 hour to 48 hour on completing the account opening process. 

#2. Zerodha Brokerage Charges Details 

Zerodha charges a lower of Rs 20 or 0.03% of the trade volume. For example if you make trade Rs 50,000 then the brokerage charges would be Rs 15 

Lower of Rs 20 (fix brokerage) or 0.03% of 50,000 = Rs 15 

Segment	Brokerage Fee
Equity Delivery	Free
Equity Intraday	Rs. 20 per executed order or 0.03% (whichever is lower)
Equity Futures	Rs. 20 per executed order or 0.03% (whichever is lower)
Equity Options	Rs. 20 per executed order
Currency Futures & Options	Rs. 20 per executed order or 0.03% (whichever is lower)
Commodity F&O	Rs. 20 per executed order or 0.03% (whichever is lower)

#3. Value-Added Services Charges

#4. Other Charges

• Depository(DP) Charges – Rs. 13.5 (charged by CDSL + Zerodha on the selling of stocks bought in delivery)
• Pledging Charges – Rs. 30 
• Call and Trade Charges – Rs. 50 per order
• Off-market transfer charges – Rs. 25 or 0.03% of the transfer value (whichever is higher).
• Payment gateway charges – Rs. 9 per transaction except for UPI (No charges on UPI)
• Delayed Payment Charges – Interest charged 18% a year or 0.05% per day on the debit balance 
• Mutual Funds Commission – Zero
• GST – 18%

About Zerodha 

Zerodha started its operations on 15 August 2010 and became the first broker in India to  start a discount brokerage system. 

Zerodha offered the flat fee brokerage system by introducing Rs. 20 per order brokerage.

In 2020, Zerodha became the largest broker in India with 50 lakh clients. Zerodha claims to contribute over 15% of daily retail orders in India through trading and investing.

Zerodha offers a high-end trading platform “Kite” that they have improved a lot over the years, and work is still going on. 

You can also invest in other assets like mutual funds investments, bond investment, and IPO subscriptions through Zerodha. 

Zerodha has partnered with other companies like Sensibull or SmallCase for options trading and strategy-based stock investment. You have to pay additional fees for that. 

Zerodha Margin Details

Delivery Margin 

Zerodha doesn’t provide margin on equity delivery (NRML). You can only get margin in intraday (MIS) and cover orders (CO).

Intraday Leverage

Segment	Margin Leverage
Equity	52% of the VaR+ELM+Adhoc mandated by the exchange
Index F&O	Total of 52% of (SPAN + Exposure)
Stock F&O	Total of 52% of (SPAN + Exposure)
Currency Futures	2X(52% of NRML margins)
Commodity Futures	2X(52% of NRML margins)

Cover Orders Leverage

Segment	Leverage /Margins
Equity	30% of the VaR+ELM+Adhoc mandated by the exchange
Index F&O	2X(52% of NRML margins)
Stock Futures	2X(52% of NRML margins)
Currency Futures	2X(52% of NRML margins)
Commodity Futures	2X(52% of NRML margins)

 

Zerodha Trading Platforms

#1. Zerodha Kite Web

Zerodha Kite is an easy-to-use trading platform with a minimalistic design. You get everything in one place such as market overview, orders, holdings, positions, and funds details.

You can use shortcuts to quickly navigate the platform. Use shortcuts like 

• Press “o” from the keyboard to move to the orders section. 
• “P” for the positions section, 
• “f” for funds, 
• “a” for the dashboard.

You can also access Level 3 data up to 20 bids and offers for better analysis of market trends.

You get above 100 charting indicators such as Candlesticks, Bollinger bands that help you access the market trends in advance. 

Pros of Zerodha Kite

• Sleek user interface
• Even works at slow internet speed
• In-depth market analysis
• 100+ technical indicators 
• Integration with other platforms such as coin, console 

Cons of Zerodha Kite

• Backtesting of strategies not available
• Can’t buy IPO from Kite. You need to go to “Console”

#2. Zerodha Kite Mobile

Kite app is a lightweight and fast mobile app designed for mobile traders. You can trade stocks, invest in mutual funds, and learn about stocks in varsity through the Kite app.

Kite has integrated with other apps like Coin, Varsity, and Console making it one place to access other apps.

Pros of Zerodha Kite

• Minimalistic app UI
• Lightweight, faster app
• Multi apps integration like coin and varsity
• Invest in IPO as you can open the Console from the Kite app

Cons of Zerodha Kite

• App stutters in peak hours sometimes

Zerodha Additional Product  

#1. Console

The Console is a central reporting dashboard that provides you with the details of your trading, profit & loss statements, contract notes, and many other reports.

You can also invest in IPOs (Initial Public Offering) through the console. You can pay through  UPI for placing IPO bids.

#2. Coin

Zerodha’s coin is India’s largest direct mutual fund investment platform with 2000+ commission-free direct mutual funds from more than 40 mutual fund houses.

You can check out various fund schemes like equity, debt, ELSS and sector-wise data to make your understanding before investing.

#3. Varsity

You can also learn about stock investment through Zerodha’s Varsity Mobile app. You get in-depth knowledge about stocks through cards and illustrations. 

Varsity has three difficulty levels to make your stock learning interesting. You get a quiz at the end of each lesson to recall what you learned.

You also get a virtual certification on completion of each module to boost your morale.

#4. Sentinel 

Sentinel allows you to create personalized market alerts on 90,000+ stocks, bonds, commodities, F&O contracts, and currencies across various exchanges.

You can set up basic alerts based on price, trade quantity, volume, and open interest. 

You can also create advanced alerts using mathematic expressions similar to ExcelFormulas.

For example, suppose INFYcurrent price is 700, you can set the condition as below –

LastTradedPrice(‘NSE:INFY’) >= 800

When INFY touches or crosses 800, the trigger will generate an alert for you. There’s no time limit, so you can set your alerts for future prices.

Zerodha Partner Products 

Zerodha has partnerships with other companies to provide wider investment opportunities to the customer. You can directly link your Zerodha account with the partner products to start using the portals. 

#1. Sensibull

Sensibull is designed for option traders to build option trading strategies. 

You can compare different “options” side by side to know which will work best for you. You can run various complex strategies such as Spreads, Butterflies, and Condors with a single click.

Sensibull also allows you to do virtual trading so that you can practice options trading without putting your real money at risk.

Sensibull has now introduced the “Social trading” option to copy strategies of other experts, get your trades on WhatsApp, and execute with a single click from your phone’s notifications.

#2. Small Case

If you don’t have a fundamental knowledge of stocks, but you want to invest in stocks for the long term, then you can go with SmallCase.

You can build a diversified portfolio in stocks through theme-based investment strategies.

Where you can invest through readymade strategies such as

• All-Weather Investing – Long-term investment strategy that invests in equities, debt, and gold.
• Top 100 Stocks –  Invest in top 100 market cap companies using Nippon India ETF Nifty Bees and Nippon India ETF Junior Bees.
• Dividend Aristocrats – investing in companies that pay high dividends

You can access hundreds of other strategies as per your requirements.

#3. Streak 4.0

Zerodha streak is a cloud-based Algo-trading platform, where you can create your stock trading strategies. 

You can not only backtest your strategies but also, you can pick readymade strategies and then edit, backtest or deploy those strategies as per your requirements.

The Streak has 3 sections –

• My Strategies – You can create your own strategies.
• Discover – Streak publishes strategies for user understanding
• My Picks – Strategies that you picked from the Discover 

#4. GoldenPi

Zerodha has partnered with Golden Pi to help its clients invest in debt securities such as bonds, and treasury bills.

You can also invest in Sovereign gold bonds, PSU or corporate bonds if you prefer safer investments. 

Golden Pi allows you to invest in the categories below –

• Ultra short term bonds
• Tax free bonds
• Public sector bank bonds
• Highly safe bonds
• Bonds for senior citizens
• State government guaranteed bonds

Zerodha Customer Care

Discount brokers are still lagging behind the full-service brokers for providing customer support. But if we compare Zerodha’s customer service to other discount brokers, then it is far better than any other discount brokers. 

You may come across some tweets on Twitter complaining about the Zerodha platform. 

Issues happen with Zerodha’s trading platform, especially at peak times. But the best part is Zerodha customer support responds to your queries. 

Zerodha has a 48 hour timeline to close a ticket. So, they respond to every ticket raised.

If you have a complaint, then the best way is to raise a ticket and tweet mentioning your ticket number.

#1. Raise a Ticket

You can raise a ticket with the log-in Zerodha support team to resolve your issue. You can visit Zerodha Support portal to create a ticket.

• Select any relevant topic from the given list.

• Scroll the page down and click on “Create a ticket”.

• Now select “Yes or No”, if you have a Zerodha account or not.

• If you are a Zerodha user, you can login with Kite. Otherwise, fill the details as given in the snapshot and click on “Create a Ticket”.

The customer support team will call you back once your ticket is created. 

#2. Customer Care Number

Account Opening	Trading Support	Call & Trade
080 4719 2020  080 7117 5337	080 4718 1888 080 4718 1999	080 4718 1888

You need a “Support Code” while calling Trading Support and enter the code when the IVR machine asks you so. Only then you can reach out to the trading support representative.

You can find your “Support Code” in your Console panel. 

Steps to get the support code –

Step 1 – Go to Console.zerodha.com and log in with your “Zerodha Kite” credentials. 

Step 2 – Click on the Account menu.

Step 3 – In the Account section, you can locate the hidden support code. Click on “View” to unhide the code.

Note down the support code to use with customer support.

Zerodha Advantages

• No brokerage charges on equity delivery
• Low brokerage is ideal for the heavy trader
• Level-3 historical data and 100+ indicators for better analysis
• Create personalized alerts
• Also invest in IPOs, mutual funds, and bonds 
• No commission on the mutual funds’ investment
• Better customer support
• Partnered with other high-end platforms like Sensibull, GoldenPi, and SmallCase for options trading and long-term investing.

Zerodha Disadvantages

• Server crashes sometimes during peak hours
•   No Margin leverage on delivery

Zerodha Account Opening Process

Step 1: Visit Zerodha Signup Portal

Go to the Zerodha website and click on “sign up now”. 

Step 2 : Enter Your Details 

#1. Enter Mobile Number

Enter your Mobile Number and Click on ‘Continue’. You will receive an OTP (One Time Password) on the same mobile number.

Enter the OTP, and click on ‘Confirm’.

You will be redirected to another page to fill in your details.

#2. Email Address 

Enter your Full name, email id and Click on ‘Continue’. You will receive an OTP on your email address.

Fill that OTP and click on ‘Continue’.

Step 3: Enter Your Pan Card Details

Enter your PAN card number, Date of Birth and click on “Continue”.

Step 4: Fees To Be Paid

You have to enter your account opening fee. You get 2 options here –

• Equity: 200 rupees
• Commodity: 100 rupees

Equity is a must if you want to invest in the stock market. The commodity is optional. You can go with the commodity option if you want to invest in commodities.

You can select either UPI or Netbanking/Cards to pay the fee. Enter details and click on ‘Pay & Continue’.

Step 5: Bank Account Details

Once the payment process is completed, you must enter the bank account details such as savings account number and IFSC code.

Step 6: Fill Background Information

#1. Enter personal information

Entered the background details such as mother’s name, marital status, and occupation details.

#2. Give your consent

Tick on all the 4 checkboxes for your consent & declaration. Then click on “Continue”.

Step 7: In-Person-Verification (IPV)

Now you have to complete your In-Person-Verification.

If you are filling in your form from your smartphone you can use the front camera to complete the verification.

Otherwise, you need a webcam if you are filling through a desktop or laptop.

Write the shown OTP on blank paper or your mobile phone screen and stand in front of the webcam.

Your face and OTP both must be in the frame and visible, then click on “Start IPV” and then “Take Video”.

Step 8: E-Sign Application

You have to digitally sign the application using your Aadhaar card and click “Continue”.

You’ll be redirected to the “Digio or Digilocker” website to save your documents and e-sign the form.

Signup with digilocker and allow it to access your documents. 

Note: You can click on the “I’ll print & courier” option if you want to open the account offline.

#9. Upload Your Document Proofs

#1. Upload Bank Proof

Canceled cheque – Upload a personalized canceled cheque as bank proof. 

A personalized canceled cheque is that cheque that has your name printed on it and you write a big “CANCELED” across it.

Bank Statement – You can also upload a bank statement if you don’t have a personalized cheque. But make sure your bank statement must contain –

• Your name
• Bank account number
• IFSC and MICR codes

#2. Income Proof

If you want to trade in the Commodity, you have to upload the latest income proof. 

That could be – 

• Copy of your latest ITR
• Last month’s salary slip
• 6 months bank statement

Step 10: E-Sign Equity

After document uploading, scroll down the page, then you will see an option to eSign Equity

NSDL Verification

You’ll be redirected to the NSDL website for Aadhaar verification. Enter your Aadhaar number and click on “Send OTP”.

You’ll receive OTP on your mobile number linked with your Aadhaar card. Make sure your mobile is already linked.

Fill in the OTP and click on verify OTP. 

A new window will be opened and You’ll see an application form. Scroll down to click on “e-sign now”. 

Final Words – Why You Should Open a Zerodha Account?

Zeroda is an ideal discount broker for beginners as well as advanced traders. Zerodha brokerage plans and educational resources are suitable for beginners and fully equipped trading platforms are best suited for the advanced traders’ needs. 

Zerodha provides you a seamless online account opening process that allows you to open an account within 48 hours.

Open Zerodha account due to 

• Free stock delivery 
• Lower brokerage fees for trading 
• Advance trading platforms 
• Better customer service

FAQs

#1. Is Zerodha good for beginners?

Yes. Zerodha is good for beginners as well as professional traders because you have to pay less brokerage fees and you get an easy-to-use platform.

#2. What are Zerodha brokerage charges?

Zerodha charges 0.03% or Rs. 20 per order whichever is on the lower side.

#3. Can I open a Zerodha account online?

Yes. You can open your Zerodha account online by visiting the Zerodha website.

Make sure that your mobile number is linked with your Aadhaar card.

Secondly, you have access to the mobile number linked with your Aadhaar card when you fill the Zerodha application form online.

#4. Can I open a Zerodha account without Aadhaar?

Yes. You can open a Zerodha account without an Aadhaar number but you have to follow the offline process.

In which, you will signup with Zerodha and fill the form online. You’ll get the option of the “I’ll print and courier” option at the last point.

You just print the application form. Duly sign and send the form to Zerodha head office along with supporting documents.

#5. Can I open a Zerodha account on Sunday?

Yes. You can apply for a Zerodha account on any day of the week and at any time throughout the day. 

If you apply on Sunday, your application will be processed within the next 2 working days.

#6. Can I open a Zerodha account without Income Proof?

Yes. You can open a Zerodha account without income proof as well. Income proof is required if you want to trade in Future and Options or Commodities.

Then you have to produce your last 6 months’ income proof.

#7. Can I open a Zerodha account in lockdown?

Yes. Since the Zerodha account opening process is online and you can easily open your account from the comfort of your home.

But make sure your mobile number is linked with an Aadhaar card to complete the online KYC process.

#8. Can I close the Zerodha account?

You can close Zerodha accounts by visiting their website and raising a ticket. 

There’s no complete online process for account closing but you can do the initial steps online and then print the form and courier it to Zerodha head office.

#9. Can Zerodha be used for mutual funds?

Yes. You can use Zerodha for commission-free direct mutual fund investing. 

Earlier Zerodha used to charge Rs. 50 per month for mutual funds investment but now it’s free.

#10. Why Zerodha is better than Upstox?

Zerodha is better than Upstox in the points below –

• Easy user interface for trading platforms
• Low brokerage percentage than Upstox. Upstox charges 0.05% or Rs. 20 per order but Zerodha demands 0.03% or Rs. 20 per order
• Better customer support. Zerodha deals the ticket raised within 48 hours but Upstox customer support is slow in resolution.

#11. How is Zerodha brokerage calculated?

Zerodha charges brokerage at 0.03% or Rs. 20 per order (whichever is lower) and Zero brokerage on equity delivery.

Scenario #1. Stock Delivery

Suppose you are investing Rs. 1,00,000 in 1000 stocks for the long-term. You buy all your stocks on delivery at Rs. 100 per share price.

Total brokerage = ZERO.

Scenario #2. Low Volume Trading

Buying

Suppose you bought 100 stocks at Rs. 100 per stock. Your cost of stocks would be Rs. 10,000.

If calculates with 0.03%, the brokerage would be 10,000 X 0.03% = Rs. 3

Since Rs. 3 is lower than Rs. 20, you would pay Rs. 3 as brokerage.

Selling

Now you sold all the 100 stocks on the same day at Rs. 105 per stock. Total amount Rs. 10,500.

The brokerage would be 10,500 X 0.03% = Rs. 3.15

Total brokerage = Rs. 3.00 + 3.15 = 6.15.

Scenario #3. High Volume Trading

Buying

Suppose you bought 1000 stocks at Rs. 100 per stock. Your cost of stocks would be Rs. 1,00,000.

If calculates with 0.03%, the brokerage would be 1,00,000 X 0.03% = Rs. 30

But you would pay for the lower side. 

Means Rs. 20 only as brokerage on buying the stocks.

Selling

Suppose you sold 1000 stocks at Rs. 105 per stock. Your selling amount would be Rs. 1,05,000.

You have to pay Rs. 20 as brokerage at the time of selling as well.

Total brokerage = Rs. 40.

If you are new to the stock market, you might be confused between a demat account and a trading account. 

No worries, I have explained the difference between Demat and trading accounts in a simple manner in this article.

Without wasting time, let’s start.

What is a Demat Account?

A demat account or Dematerialised account keeps your stocks in digital or electronic form.

Earlier we had to hold the physical papers of the purchased stocks but now they stay in your Demat account until you sell them. 

When you buy any stock, the stock sends to your Demat account. This process is called stock delivery. 

For example, if you want to buy Infosys shares, you will need a Demat account that will store your bought Infosys shares in digital form. You don’t get any physical paper proof for your stock purchases.

You can even open multiple Demat accounts for separate services such as stocks, mutual funds, and bonds.

You now come to know how you can store your purchased shares, but do you know how you will buy those shares? Let’s discuss this in the next section.

What is a Trading Account?

The trading account helps you to buy or sell your stocks in the stock exchange. 

Taking the previous example, if you want to buy Infosys shares, you need a trading account to buy the stocks.

To buy a stock, you first transfer the required amount of money from your savings account to your trading account, then you use that money in your trading account to buy the required shares.

Similarly, a trading account also allows you to sell the stock. 

For example, if you buy 10 shares at a price of Rs. 100 per share by paying Rs. 1000 and sell when the price moves upward at Rs. 105. 

Now you could do buying and selling with the help of your trading account. 

A trading account is basically an intermediate between you and the stock market that allows you to trade stocks in the share market.

Difference Between Demat Account and Trading Account

#1. Nature and Functionality

Demat Account is for storage of stock whereas trading account is for movement of stocks either buying or selling.

A Demat account is similar to your savings account in the bank, whereas a trading account works like your current account. 

When you buy shares for delivery in the stock market, your trading account buys those shares and deposits them in the Demat account

Stock delivery means you buy some shares and keep them for some days, months or years.

When you sell your already bought stocks, your trading account withdraws shares from your demat account and sells in the market.

#2. Role of Demat and Trading Account 

Both play important roles in the investment as well as trading in the stock market. 

Demat account is required when you buy a stock to hold for a long period, your purchased stock is stored in the demat account. 

A trading account is needed to buy or sell shares whether for delivery or for intraday trading.

#3. Account Opening and Maintenance Fee (AMC)

You have to pay account opening charges for both demat and trading account. 

However, some brokers only charge a trading account opening fee but you don’t have to pay any maintenance fee for the trading account.

You can see IIFL charges Rs. 295 for trading account opening fee.

They don’t charge any account opening fee for demat account but they charge account maintenance charges (AMC) to maintain demat account.

For an instance, Zerodha charges Rs. 300 per year (actually Rs. 75 per quarter) as demat account AMC but they don’t charge AMC for trading account.

#4. Margin Leverage

Margin is important for a stock trader because margin allows you to trade for higher amounts even if you have less cash in your trading account.

So your trading account allows you to take benefits of margin leverage.

Since Demat account is kind of your digital storage, you don’t get any margin leverage benefits with demat account.

But when you buy stock delivery (which means you buy and hold for some days, months or years) then Demat account comes into play.

#5. Account Closing Procedure

You can open a demat and trading account together that we’ll discuss in detail in the next section.

But the closing procedures of both accounts are different.

#1. Trading account closing procedure

Closing a trading account is simple.

You can simply write an email to your broker’s helpdesk or call customer support and ask them to close your trading account. Simple.

Make sure to withdraw the funds to your savings account from the trading account before escalating the closure application.

#2. Demat account closing procedure

Closing a demat account is complicated.

If you have a demat account with a discount broker like Zerodha or Upstox then you may find their account closure form on their website but most of the brokers don’t have a standard process for demat account closure.

Secondly, if you have a full service demat broker like ICICI direct, then it’s very tough to close your demat account.

Things to keep in mind while closing demat account

• You have to reach out to their offline branch to submit the application and most of the branches are in metro cities only.
• You don’t have any shares holding in your demat account. Either sell them or transfer to another demat account using DIS (Delivery Instruction Slip).
• Make a checklist of important points you have to fill in the form and double check before submitting.

Also read – How to close ICICI Direct Demat and trading account

How to Open Demat & Trading Account

You can open a demat and trading account simultaneously. 

You need to reach out to any broker such as Zerodha to open the demat and trading account. Then follow their step by step process to open the demat account. 

Every broker has their own portal to create the demat account but the basic procedure is common. 

Let’s understand what steps you need to know to open a demat account. 

#1. Keep Your Documents Handy

Before proceeding to open your demat/trading account, keep the following documents ready.

• PAN Card
• Aadhaar Card
• Your signature on blank paper
• Cancelled cheque with your name printed on it

If you don’t have personalized cheque with your name printed on it, then you can go for –

• Bank statement containing your Name, Bank Account Number, IFSC and MICR codes
• Bank Passbook IFSC and MICR codes

You must take care of the following things 

• Your mobile number must be linked with Aadhaar for online verification
• Your webcam should be working if you are applying from a laptop or desktop computer.
• You need scanned copies of all of your required documents
• If you are applying from your smartphone, click clear images of your required documents in your phone.

#2. Visit the signup page of your broker

You can visit the signup page of your broker. You have to enter your mobile number to proceed as shown below. 

Some portals may ask for your email address as well at the first step.

You will need to enter the OTP received on your registered phone number.

#3. Enter Your Personal Details

Once you have signed up, you have to fill in the personal details like parents name, address, marital status, and occupation details.

#4. Select Brokerage Plan

Now you have to select the brokerage plan if the broker offers multiple plans. If you are a beginner, always go with a basic plan.

When you have got some stock trading experience, you can upgrade to a premium plan.

#5. Bank Details

You have to enter your bank details that you want to attach with your trading account. 

#6. IPV (In-person Verification)

You have to go through online In-person verification by uploading the scanned image of your signatures on blank paper and by clicking your selfie online from the portal.

Some portals may ask you to record your video online and upload

You will better understand by seeing the screenshot below.

#7. Upload Your Documents

Now you will have to upload your documents scanned copies like PAN card, cancelled cheque or bank statement.

#8. Esign with Aadhaar KYC

You have to e-sign your application form by verifying it through online Aadhaar verification.

You may be redirected to a third party portal such as digio or digilocker.

Some portals move you directly to NSDL (National Securities Depository Limited) website for Aadhaar verification.

You will get an OTP on your mobile number linked with your Aadhaar number. You will enter that OTP to verify your Aadhaar number.

Once your Aadhaar number is verified, you will see a button “E-sign Now”.’

When you click on “e-sign now”. It takes a couple of seconds and your account opening process is completed.

#9. Confirmation

You get a confirmation email about account opening within 2-4 days from your broker. You will also get your user id and a link to reset your password.

Once the account is opened you can use their web based platform or mobile trading app for stock trading.

Demat account vs Trading Account FAQs

#1. Do I need both demat and trading account?

The answer is both Yes and No.

Yes. if you are into stock trading, you need both demat account and trading account. You need trading account to buy/sell the shares and demat account to hold the shares for long time period.

No. You can go with a demat account only if you don’t want to trade in stocks. 

For example If you want to buy government bonds only, you don’t need a trading account but you need a demat account to hold your investments electronically.

Secondly, if you want to buy an IPO and hold it, then also you don’t need to have a trading account but only a demat account. 

But when you will have to sell those IPOs, you will need a trading account.

That means its better to open both demat and trading account together as they are highly interdependent.

#2. What is Dematerialization and Rematerialization in Demat account?

Dematerialization is converting your physical documents into digital format. For example, if you have old shares in the form of papers, you can convert them into digital forms through your broker. That’s called the Dematerialization of stocks.

On the contrary, you can also convert your digital shares into paper form by paying the required fee to your broker. This is called Rematerialization.

#3. Is demat account and trading account same?

No. demat account is for storing stocks or similar assets digitally whereas trading account is for buying or selling the stocks.

In 2010, Zerodha was the first discount broker in India to start a new trend that saved up to 90% of brokerage fees.

Earlier, full service brokers charged a percentage base high brokerage fee for stock delivery and intraday trading. 

Full service brokers still charge the high brokerage fee but now we have a lot of discount brokers who charge a fixed brokerage as low as Rs 9 per trade and provide free stock delivery. 

Let’s understand the basic difference between discount brokers and full service brokers for better clarity. 

Difference between Discount Broker & Full Service Broker

Discount brokers provide you only platform for stock trading. You don’t get any advisory service from the discount broker. That’s the reason you get low cost brokerage plans as compared to full service brokers. 

Full service brokers provide research reports, trading and advisory services in stock, commodities, currencies, Mutual funds, and IPOs. Advisory services increase their cost, so they charge higher brokerage from their customers.  

For me, Discount brokers are better options as I suggest to do our own research for trading and value investing. And you would end up saving a handsome amount on brokerage fees. 

I have listed the important factors that I have used to review the discount brokers. Check out the factors before moving to the list of best discount brokers in India 

Factors to Compare the Discount Brokers in India 

#1. Is Lower Brokerage Fee the Best?

Discount brokers in India charge brokerage fees starting from Rs 9 per trade to Rs 20 per trade.
Brokerage fee should not be the sole parameter to finalise the discount brokers. 

By paying a genuine brokerage fee of Rs 20 per trade you can get a service from a top broker like Zerodha. If you try to cut the cost below Rs 20 then you would be ready to compromise on service end. 

I have explained the other important factors in coming points.  

#2. Efficient Trading Platform

Trading platform performance is like salt in the food, it’s presence is not felt but it’s absence makes all things “tasteless”. 

If the trading platform is slow, takes time to show the live market, hard to use the different charts & tools then you would never focus on your trades. 

Choose a discount broker that provides large historical data to analyse the past performances of the market and provide various technical indicators like bollinger bands, moving averages and charting options like candlesticks to watch real time market trends.

You should also check mobile trading apps performance if you are going to do trading through your mobile phone. 

#3. Reputation of Broker

Reputation of a broker depends upon the number of clients the broker possesses. More clients means more people trust that broker. 

For example, Zerodha has the highest number of client base with more than 50 lakh customers. 

#4. Great Customer Support

If you are going for a discount broker that means you are not expecting any offline office of a broker in your city. 

That means their customer support must be highly efficient to resolve your queries at hand. For example, Zerodha has a 48 hour ticket window, so they have to close the ticket in the fixed time frame.

Discount brokers mostly have bad customer support, you may escalate on social media like Twitter but don’t expect quick resolution. 

#5. Margin Leverage

If you are an experienced trader, you may have 2 priorities –

• Paying less brokerage
• Enjoy high leverage

You should first check which broker offers you high margin leverage but as per SEBI’s new norms no broker would provide you up to 5x margin only.

#6. Multiple Investment Options

You might be interested in mutual funds, gold or IPOs along with stock trading, so it would be more hectic if your broker doesn’t offer you multiple investment options.

Because you have to open another account where you get the rest of the investment facilities. A one stop shop broker is an ideal option for distributed investments.

Discount Broker in India Comparison Table 

We have shortlisted the best discount brokers in India based on their brokerage rates, trading platform performance, client base, and customer support.

Ranking	Discount Broker	Brokerage Charges
1	Zerodha	0.03% to Rs. 20 per order
2	5paisa	Rs. 10 to Rs. 20 per order
3	Upstox	0.05% to Rs. 20 per order
4	SAS Online	Rs. 9 per order
5	FYERS	0.03% to Rs. 20 per order
6	Wisdom Capital	Zero Brokerage
7	Samco	0.02% to Rs. 20 per order
8	Trade Smart	0.007% to Rs.15 per order
9	ProStocks	Rs. 15 per order
10	TradeJini	0.05% to Rs. 20 per order

Top 10 Best Discount Broker in India 

#1. Zerodha (Most Trusted Discount Broker)

Zerodha was the first and most trusted discount broker in India with more than 50 lakh client base. Zerodha started its operations in 2010 and has 10+ years of experience in the brokerage industry.

Zerodha introduced the flat brokerage system in India by charging  Rs. 20 per order for intraday. The stock delivery is free. 

You can also invest in direct mutual funds without paying any commission to Zerodha. 

You can utilize multiple platforms according to your requirement. The platforms that Zerodha provide are –

• Zerodha Kite – Minimalist stock trading platform with simple and easy to use user interface
• Zerodha Coin – To invest in direct mutual funds and bonds
• Console – To invest in IPOs and you all trading and investing reports

Zerodha has also collaborated with Sensibul for Options trading and Small case for thematic investing.

You can also utilize 100+ technical indicators like fibonacci retracement for quick market movement analysis.

Zerodha is popular for their quick customer support with a ticket resolution window of 48 hours. They are also very responsive to tweets if you are not satisfied with their customer service assistance.

Brokerage Charges 

Segment	Brokerage Fee
Equity Delivery	Free
Equity Intraday	Rs. 20 per executed order or 0.03% (whichever is lower)
Equity Futures	Rs. 20 per executed order or 0.03% (whichever is lower)
Equity Options	Rs. 20 per executed order
Currency Futures & Options	Rs. 20 per executed order or 0.03% (whichever is lower)
Commodity F&O	Rs. 20 per executed order or 0.03% (whichever is lower)

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Equity – Rs. 200 Commodity – Rs. 100
Annual Maintenance Charges	Rs. 75 per quarter

Zerodha Margin Benefits

Segment	Margin
Equity Delivery	No Margin
Intraday	Up to 5X
Stock Futures and Options	Up to 2X
Indices Futures and Options	Up to 2X
Currency Futures	Up to 2X
Currency Options	No margin
Commodity Futures	Up to 2X

Advantages of Zerodha

• Free equity delivery
• Fast and efficient trading platform
• Good customer support
• 100+ technical indicators
• Minimalistic mobile app user interface

Disadvantages of Zerodha

• No leverage on equity delivery
• Zerodha app hangs in the peak hours sometimes

Best for – Zerodha is best for traders who want a trusted broker which provides better trading platforms and charge less brokerage fees. 

You can also read complete Zerodha Review here

#2. 5paisa (Best for Occasional Traders)

5paisa is the second cheapest discount broker in India. If you are a high volume trader, you can enjoy brokerage as low as Rs. 10 per trade with their premium plans. You need to pay Rs 499 for the power investor pack and Rs 999 per month for the trader pack. 

You only need to pay the maintenance charges only for the month in which you make any trade. This feature makes 5paisa ideal for occasional traders. 

If you are a short term trader you can benefit from their “Swing Trader” tool, that offers you trading strategies by analysing market movements from 2 days up to 20 days.

5paisa trading platform are easy to use and carry decent user interface 

Brokerage Charges 

Segment	Basic Plan	Power Investor Pack (499/Month)	Ultra Trader Pack (999/Month)
Stock Delivery	Rs. 20/order	Rs. 10/order	Rs. 10/order
Stock Intraday	Rs. 20/order	Rs. 10/order	Rs. 10/order (First 100 trades free every month)
Stock Futures	Rs. 20/order	Rs. 10/order	Rs. 10/order
Stock Options	Rs. 20/order	Rs. 2/lot	Rs. 2/lot
Commodity F&O	Rs. 20/order	Rs. 10/order	Rs. 10/order
Call Trade Charges	Rs. 100/call	Rs. 100/call	Free

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Rs. 650 (currently free)
Basic Plan	Rs. 25 per month
Power Investor Plan	Rs 499 per month
Priority Plan	Rs. 999 per month

5paisa Margin Benefits

Category	Margin
Equity Intraday Trading	Up to 4X
F&O Exposure Intraday	Up to 5X
Option Writing Exposure	Up to 6X
Currency Futures	1X

Advantages of 5paisa

• Easy user interface
• One stop place for multiple investment types like trading, mutual funds and insurance
• Detailed stock analysis by MarketSmith India
• Pro pack for high volume trading

Disadvantages of 5paisa

• Trading platform crawls in the peak hours sometimes
• No free equity delivery
• Call to trade is very expensive in basic plan at Rs. 100/call

Best for – Traders who use the services occasionally as they need to pay Rs 25 only for the month they used the 5paisa services. 

#3. Upstox (Zerodha Alternative)

Upstox is the fastest growing discount broker in the last 2 years. Now Upstox becomes the 2nd biggest discount broker after Zerodha in terms of customer base. 

Upstox charges a fixed brokerage of Rs 20 per trade and free stock delivery, same as Zerodha. 

You can also open a 3-in-1 account with Upstox. The 3-in-1 account includes savings, demat and trading accounts in one account. The benefit of a 3-in-1 account is that you can transfer funds from a savings account to a trading account and vice versa in a single click. 

Secondly, you earn interest on the unallocated money that you are not using in a trading account.

Upstox also offers you to invest in direct mutual funds, IPOs and digital gold directly from the Upstox trading app.

Brokerage Charges 

Segment	Brokerage Charges
Stock Delivery	Free
Stock Intraday	Rs. 20/order or 0.05% (whichever is lower)
Stock Futures	Rs. 20/order or 0.05% (whichever is lower)
Stock Options	Rs. 20/order or 0.05% (whichever is lower)
Commodity F&O	Rs. 20/order or 0.05% (whichever is lower)
Call Trade Charges	Rs. 20/call

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Annual Maintenance Charges	Rs. 25 per month

Upstox Margin Benefits

Segment	Margin
Equity Delivery	No Margin
Intraday	Up to 5X
Stock Futures and Options	Up to 2X
Indices Futures and Options	Up to 2X
Currency Futures	Up to 2X
Currency Options	No margin
Commodity Futures	Up to 2X

Advantages of Upstox

• Free account opening
• Free equity delivery
• Robust trading platform 
• Seamless 3-in-1 account opening
• Invest in gold, IPOs and mutual funds from App

Disadvantages of Upstox

• Customer support is need to be improved

Best for – If you are looking for a Zerodha alternative along with free account opening.

Check out – Upstox Demat account detailed review

#4. SAS Online (Cheapest Discount Broker)

SAS Online is the cheapest discount brokerage in India. You can trade at Rs. 9 only and if you are a heavy trader, you can go for Rs. 999 monthly plan for unlimited trades every month.

They have more than 50,000 clients who trade on the SAS online platform. You can use margin up to 10X leverage in Equity cash.

You can trade using their Web trading platform “Alpha”. Alpha is a lightweight and fast trading platform but it glitches sometimes.

You can aiso install Alpha Mobile app to trade on the go, but the app is a basic app with some bugs. The app also misses many important features like showing margin requirement in order window.

Brokerage Charges 

Segment	Brokerage Fee
Equity Delivery	Rs. 9 per order or Rs. 999 per month for unlimited free orders
Equity Intraday	Rs. 9 per order or Rs. 999 per month for unlimited free orders
Equity Futures	Rs. 9 per order or Rs. 999 per month for unlimited free orders
Equity Options	Rs. 9 per order or Rs. 999 per month for unlimited free orders
Currency Futures & Options	Rs. 9 per order or Rs. 999 per month for unlimited free orders
Commodity F&O	Rs. 9 per order or Rs. 999 per month for unlimited free orders

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Rs. 200
Annual Maintenance Charges	Rs. 200

SAS Online Margin 

Segment	Margin
Equity Delivery	Up to 4X
Intraday	Up to 10X
Stock Futures and Options	Up to 2X
Indices Futures and Options	Up to 2X
Currency Futures	Up to 2X
Currency Options	Up to 1.5X
Commodity Futures	Up to 2X

Advantages of SAS Online

• Lowest trading charges at Rs 9 per order
• Unlimited trading plan for heavy traders at Rs. 999/month
• More leverage facility than other competitors

Disadvantages of SAS Online

• Trading platform is not efficient
• App contains bugs and misses important features
• No free equity delivery

Best for – If you want the cheapest brokerage rate with monthly plans. 

Also read- Axis Direct Account Complete Review

#5. FYERS ( Theme Based Investing)

FYERS offers theme based stock investment. They have 100+ pre-designed portfolios that you can choose from or customize as per your investment goals.

For example, You can choose a theme “Banking Magnets” in which your money will be invested in the banking sector, corporate, retail and microfinance sectors. 

You can utilize 70+ technical indicators and 20+ years historical End of the Day “EOD” data for deep analysis of market trends.

Brokerage Charges 

Segment	Brokerage Fee
Equity Delivery	Free
Equity Intraday	Rs. 20 per executed order or 0.03% (whichever is lower)
Futures (Equity, Currency, Commodity)	Rs. 20 per executed order or 0.03% (whichever is lower)
Options (Equity, Currency, Commodity)	Rs. 20 per executed order
Thematic Investing	Buy – Free Sell/Modify – Rs. 100 or 2% (Whichever is lower)

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Annual Maintenance Charges	1st year – Rs. 225 2nd year onwards – Rs. 300

FYERS Margin Benefits

Segment	Margin
Equity Delivery	No Margin
Intraday	Up to 10X
Stock Futures and Options	Up to 4X
Indices Futures and Options	Up to 4X
Commodity Futures and Options	Up to 3X

Advantages of FYERS

• Free equity delivery
• No brokerage on buying in thematic investing
• 70+ technical indicators
• 20+ years historical EOD data available

Disadvantages of FYERS

• Multiple investment options like mutual funds not available
• Poor customer support service

Best for – If you want to invest in pre-defined investment portfolios. 

#6. Wisdom Capital (Free Brokerage Trading)

Wisdom Capital charges a one time fee of Rs 999 and provides lifetime free access on all the plans. 

You don’t need to pay any account opening fee and annual maintenance charges with Wisdom capital. 

If you are looking for the “brokerage free account”, then you can choose the Wisdom Freedom plan. 

Other premium plans also offer low brokerage and high leverage that I have explained in the next section.

Brokerage Charges 

Segment	Freedom Plan	Pro Plan	Ultimate Plan
Equities Delivery	0	0.01% per order	0.02% per order
Equities Intraday	0	0.01% per order	0.02% per order
NSE Future	0	Rs 9/Trade	0.005% pre order
NSE Options	0	Rs 9/Trade	Rs. 15/Lot
Commodities Delivery	0	Rs 9/Trade	0.005%per order
Commodities Intraday	0	Rs 9/Trade	0.005% per order
Call & Trade Charges	Rs 20/Executed Order	Rs 20/Executed Order	Rs 20/Executed Order

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Maintenance Charges	Freedom Plan – Rs. 999 one time charges Pro Plan – Rs. 999 one time charges Ultimate Plan – Rs. 999 one time charges

Note – Maintenance charges for Freedom plan and pro plan are the same. In the pro plan you get higher margin and in the Freedom plan you get zero brokerage. 

Wisdom Capital Margin Benefits

Segment	Freedom Plan	Pro Plan	Ultimate Plan
Equity Delivery	–	–	upto 4X
Intraday	Upto 5X	Upto 10 X	Upto 10 X
Stock Futures and Options	1X	Upto 2X	Upto 2X
Indices Futures and Options	1X	Upto 2X	Upto 2X
Currency Futures	1X	Upto 2X	Upto 2X
Currency Options	1X	Upto 2X	Upto 2X

Advantages of Wisdom Capital

• No Brokerage in Freedom plan
• No Account opening fee
• No AMCs for lifetime 
• High leverage facility in ultimate plan

Disadvantages of Wisdom Capital

• Offline account opening 
• No investment options for mutual funds, IPO or bonds
• Slow mobile app

Best for – If you want you to open lifetime free account by paying a onetime fee of Rs 999. 

#7. SAMCO (Zero Balance Trading)

If you are looking for a discount broker that offers you margin trading with cash collateral, then go with Samco.

Samco allows you to pledge 100% of your shares to trade further unlike other brokers where you have to deposit 50% cash collateral and 50% stock collateral.

You can utilize their Stock Pledge Monitor that allows you to check if promoters are not pledging heavy amounts of stocks to manipulate the market. That gives you an edge over others to avoid investing in those shares where promoter pledging percentage is high.

You can also use separate apps for mutual funds or to buy valuable stocks for long term investment.

Brokerage Charges 

Segment	Brokerage Fee
Equity Delivery	Rs. 20 per executed order or 0.20% (whichever is lower)
Equity Intraday	Rs. 20 per executed order or 0.02% (whichever is lower)
Equity Futures	Rs. 20 per executed order or 0.02% (whichever is lower)
Equity Options	Rs. 20 per executed order
Currency Futures & Options	Rs. 20 per executed order or 0.02% (whichever is lower)
Commodity F&O	Rs. 20 per executed order or 0.02% (whichever is lower)

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Annual Maintenance Charges	Rs. 400 (1st year free)

Samco Margin Benefits

Segment	Margin
Cash Plus (Equity Delivery)	Up to 4X
Stock Plus	100% margin against pledged stocks
Intra Plus (Futures and Options)	Up to 15X

Advantages of Samco

• High leverage facility
• Innovative tools to make smart trading decisions
• Welcome bonus with 100% first month brokerage cashback
• 100+ technical indicators
• Zero balance trading

Disadvantages of Samco

• No free equity delivery
• App logs out randomly
• No regular app updates

Best for – Margin trading without cash collateral

#8. Trade Smart (Ultra Low Brokerage) 

Trade Smart offers “ultra low” brokerage on trading. They offer 0.007% brokerage per order for intraday. 

Trade Smart is the second cheapest discount broker after Wisdom Capital.

Trade Smart provides the “SINE”  trading platform with 80+ indicators for analyzing the stock market moves.

You can also install the Trade Smart SINE app but that has lots of bugs like funds addition is slow.

Trade Smart claims to have more than 100 members customer support team to provide quick assistance to the clients. 

Brokerage Charges

Segment	Value Trading Plan	Power Trading Plan
Equity Delivery	0.07% per executed order	Rs. 15 per executed order
Equity Intraday Trading	0.007% per executed order	Rs. 15 per executed order
Equity Options	Flat Rs. 7 per lot	Rs. 15 per executed order
Equity Futures	0.007% per executed order	Rs. 15 per executed order
Currency Options	0.007% per executed order	Rs. 15 per executed order
Commodity Options	0.007% per executed order	Rs. 15 per executed order
Commodity Futures	0.007% per executed order	Rs. 15 per executed order

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Rs. 500
Annual Maintenance Charges	Rs. 300

Trade Smart Margin Benefits

Segment	Margin
Equities	Up to 10X
Equities F&O	Up to 2X
Currencies F&O	Up to 2X
Commodities F&O	Up to 2X

Advantages of Trade Smart

• Offices in 1000 cities
• No hidden fees

Disadvantages of Trade Smart

• No free equity delivery
• Low performance in peak hours

Best for –  If you are looking for an alternative that charges the lowest brokerage. No requirement of free stock delivery. 

#9. Prostocks (Unlimited Plans)

Prostocks offers low brokerage as well as unlimited trading plans as well.

You can either trade for flat brokerage of Rs. 15 or you can opt for unlimited trading by paying monthly charges of Rs. 899 per month. You can also pay Rs. 8999 annually for unlimited stock trading.

You can also pay Rs. 499 monthly or Rs. 4999 yearly for unlimited currency trading.

Prostocks offer 3 trading platforms – 

• Prostocks Web – You can use it through web portal
• Prostocks Desktop – You can download and install in your system for faster execution
• Prostocks Mobile – Smartphone app to trade on the go

Brokerage Charges

Segment	Brokerage Charges
Equity Delivery	Free
Equity Intraday Trading	Rs. 15 per trade
Equity Options	Rs. 15 per trade
Equity Futures	Rs. 15 per trade
Currency Options	Rs. 15 per trade
Commodity Options	Rs. 15 per trade
Commodity Futures	Rs. 15 per trade
Unlimited Trading	Equity – Rs. 899 per month Commodities – Rs. 499 per month

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Annual Maintenance Charges	Free (Rs. 1000 as refundable security)

Prostocks  Margin Benefits

Segment	Margin/Exposure/Limit/Leverage
Equity Delivery	Upto 1x
Equity Intraday	Upto 7x
Equity Future	Upto 2x
Equity Option	Upto 1x
Currency Future	Upto 1.5x
Currency Option	Upto 1x
Commodity Future	–
Commodity Option	–
BO & CO Margin	Upto 20x (Time Exposure)

Advantages of Prostocks

• Zero AMC fee
• Unlimited plans available

Disadvantages of Prostocks

• No commodity trading available
• High demat account security fee of Rs 1000 (refundable)

Best for –  unlimited stock and currency trading

#10. Tradejini (High Equity Leverage)

TradeJini demands the lower of Rs. 20 per order or 0.05% as intraday brokerage. Trade Jini has emerged as a reputable discount broker with their brokerage offices in 1000 cities across India.

TradeJini has Vega Pro trading platform and mobile app that allows you to create multiple watchlists with options to categorize Industry wise or promoter wise.

TradeJini also offers better margin leverage on equities as compared to other peers.

Brokerage Charges

Segment	Brokerage Charges
Equity Delivery	Rs. 20/order or 0.1% (whichever is lower)
Equity Intraday Trading	Rs. 20/order or 0.05% (whichever is lower)
Equity Options	Rs. 20/order
Equity Futures	Rs. 20/order or 0.05% (whichever is lower)
Currency Options	Rs. 20/order
Commodity Options	Rs. 20/order or 0.05% (whichever is lower)
Commodity Futures	Rs. 20/order or 0.05% (whichever is lower)

Account Opening and Maintenance Charges 

Type	Charges
Account Opening Charges	Free
Annual Maintenance Charges	Free (Rs. 1000 as refundable security)

TradeJini Margin Benefits

Segment	Margin Leverage
Equity Spot	Up to 10X
Equity F&O	Up to 2.5X
Commodity  F&O	Up to 3X
Currency  F&O	Up to 2X

Advantages of TradeJini

• Low brokerage
• Customized watchlists on trading platforms
• Offices across 1000 Indian cities

Disadvantages of TradeJini

• equity delivery brokerage percentage is little high 

Best for –  high margin trading in stocks

We can add single plus point along with the Broker name like Zerodha (most trusted), 5Paisa (2nd cheapest), SAS online (cheapest), XYZ (high leverage), 

Final Verdict 

If you are looking for the best discount broker, then Zerodha is on the top because you get low brokerage, fast trading platform and good customer service.

If you are an occasional trader then you can go with 5paisa and as you only need to pay maintenance charges for the traded month.

Upstox is my third recommendation as they have upgraded their trading platform a lot and they also offer less brokerage to their clients.

FAQS

#1. Which is the best discount broker in India for beginners?

Zerodha is the best discount broker for beginners as Zerodha charges a brokerage fee lower of Rs 20 or 0.03%. So, you need to pay less brokerage if you make small trades in the beginning. 

Zerodha trading platforms are easy to use and provide advanced tools & charts. 

#2. Which is the most trusted broker in India?

Zerodha is the most trusted broker in India with low brokerage fees, fast trading platform and good customer service. Currently Zerodha is the trusted by more than 5 million customers 

#3. Are Discount Brokers safe in India?

Yes. Discount brokers are registered and regulated with SEBI (Securities and Exchange Board of India). So you can go with discount brokers without any doubt.

#4. Which online broker has the lowest fees?

SAS Online has the lowest fee of Rs. 9 per trade. Wisdom capital provided free lifetime brokerage on its Freedom plan. 

#5. What is the safest broker?

All the listed discount brokers are registered with SEBI and work under the guidelines of SEBI and RBI. So all the discount brokers are equally safe. 

#6. Can I have 2 accounts with Same Discount broker?

No. You can’t have 2 accounts with the same discount broker because your account number is attached with your PAN card and a broker provides only 1 account per PAN card. You can open account on your family member name. 

#7. Can I have 2 demat & trading accounts?

Yes. You can have any number of demat & trading accounts but the broker must be different.