Demat Account

Kotak Securities is a broking arm of Kotak Mahindra Bank with over 2.5 million customer accounts and daily trades of over 7 lakhs. 

Kotak Securities is a full-service broker where one can invest in stocks, equity derivatives, currency F&O, Mutual funds, IPOs, bonds, ETFs, and IRF (Interest Rate Futures). 

The other services include research advisory, dealer-assisted trading, and portfolio management services. 

Kotak Securities Brokerage Charges

Kotak Securities offers 2 brokerage plans, namely a Trade-free brokerage plan and a Dealer-assisted brokerage plan.

#1. Trade Free Brokerage Plan

Segment	Brokerage
Equity & Commodities Delivery	Rs. 20 per executed order or 0.25% of transaction value whichever is higher with a ceiling of 2.5%
Intraday (both sides)	Zero brokerage
F&O (both sides)	Rs. 20 per executed order(Pay Rs. 20 per order to carry forward your trades to the next day)

#2. Kotak Securities Dealer Assisted Plan

Segment	Brokerage
Equity & Commodities Delivery	0.39% of transaction value
Intraday (both sides)	0.039% of transaction value
Equity & Commodity Futures	0.39% of transaction value
Equity & Commodity Options	Rs. 39 per Lot
Currency Futures	Rs. 9 per Lot
Currency Options	Rs. 5 per Lot

Other Charges

Description	Interest Rates (Charged on monthly basis)
Stock used as Margin for Derivative Trades	0.025% per day
Outstanding Debit Balance on Margin Trading Facility (MTF)	0.04% per day
Other Debit Balance	0.05% per day

Kotak Securities Margin Leverage

Segment	Margin Leverage
Equity Delivery	1x (100% of trade value)
Equity Intraday	5x (Up to 20% of trade value)
F&O (Equity, Currency, and Commodities)	1x (100% of NRML margin)

Kotak Securities Account Opening & Annual Charges

Trading Account opening fees	Trade-free plan – Rs. 0 Dealer-assisted plan – Rs. 499 (one-time)
Demat Account opening fees	Rs. 0
Trading account AMC charges	Nil
Demat Account AMC Charges  (For BSDA Clients)	Holding <50K = No AMC Holding >50K & <2 lakh = Rs. 100 AMC
Demat Account AMC Charges  (For Non-BSDA Clients)	Holding <10K = No AMC Holding >10K = Rs. 50 per month

Also read – Best investment options in India

Kotak Securities Account Opening Process

One can open a “Trinity” 3-in-1 (Demat + trading + bank) account. You need to have an existing account or open new savings account with Kotak Mahindra Bank. 

If you already have an account with any of the following banks then you can go for a 2-in-1 (Demat + trading) account opening. 

• Axis Bank
• HDFC Bank
• Kotak Mahindra Bank
• ICICI Bank
• IndusInd Bank
• State Bank of India

You can link your existing bank account with your Kotak Trading and Demat account for online trading. 

The new account opening process is online. The Demat and trading account lies with Kotak Securities and the savings account with Kotak Mahindra Bank. 

Let’s go through the step-by-step online account opening process.

Step 1: Visit the Kotak securities website. Click on “open demat account” and fill in your details. Now click on the “Open demat account” button as shown below.

An OTP will be sent to your mobile number. Fill in the OTP and click on “Next”.

Step 2: Select products in which you want to trade and click on “Next”.

Step 3: After product selection, click on “I agree” button

Step 4: Enter your PAN number, DOB details, and click on “Next”.

Step 5: Click your “Selfie”. You need a working webcam to capture “Selfie”.

Enter your personal details like father name, mother name, marital status, and click on “Next”.

Step 6: Enter your bank details and click on “Next”.

Step 7: Upload your “signatures”. 

Step 8: And enter your address details. Click on “Next”.

Step 9: Click on “esign and submit form” and you’ll be taken to the NSDL website for Aadhaar number verification.

Step 10: Enter your Aadhaar number for verification and you’ll receive an OTP on your Aadhaar registered mobile number. Click on “Verify OTP”.

It’s done. You’ll get a congratulations message that your application has been successfully submitted.

However, Kotak Securities takes 2 to 3 days to activate your account from the date of receipt of the completed application form. 

Check out – ICICI Direct Review

Kotak Securities Demat & Trading Account Features

#1. High Brokerage

Kotak Securities brokerage charges are as high as 0.39% per trade under the dealer-assisted plans for delivery trades. 

The charges come down to 0.25% for delivery trades and Zero brokerage for intraday trades under the Trade free plan but you don’t get a dedicated relationship manager.

Kotak launched Trade-free brokerage plan to compete with discount brokers like Zerodha and Upstox.

#2. Wide Products and Service Offerings

Kotak Securities is a full-service stockbroker with research and advisory services. 

The various assets, products, and services available with Kotak Securities are as under:

Can trade-in	1. Shares 2. Equity F&O 3. Currency F&O
Can invest in	4. Mutual Funds 5. IPO 6. ETFs 7. Bonds 8. Interest Rate Futures
Other Products & Services	9. Stock Lending and Borrowings 10. Portfolio management services 11. Smart Will12. Research & Advisory

#3. Dealer Assisted Trading

Dealer Assisted Trading is best for new traders/investors requiring help with day trading and investing. However, this service is available through Kotak Securities outlets, which are mainly in Metro and major cities. 

Just like Motilal Oswal or Angel Broking, Kotak securities has also started providing online dealers to clients called relationship managers.

One can have a dedicated dealer to manage the trading account. The dealer will help you with the right trading decisions, expert advice, and timely assistance in carrying out trade. 

Benefits of Kotak Securities Demat and Trading Account

• Financial advisory services under dealer assisted plan
• No account opening fee in Trade free plan
• Low brokerage on currency F&O

Cons of Kotak Securities Demat & Trading Account

• High (Up to 0.39%) brokerage on each trade
• Account opening charges of Rs. 499 in dealer assisted plan
• No free delivery

Kotak Securities Trading Platforms 

#1. Kotak Website

Kotak Securities Website is an HTML-based trading platform. You can access the trading platform directly from the home page of Kotak Securities, as shown above.

Once you click the “Account Login” tab you will get the trading platform login page as below:

The platform lets you access all the trading tools and assets. 

#2. KEAT Pro X

KEAT Pro X is a desktop-based trading platform where you can trade in equities, derivatives, and currencies using a single platform. 

KEAT Pro X comes in two versions 

• Fastlane
  Fastlane is web-based software for KEAT ProX-like trading when your office does not allow application installations.

• Xtralite
  Xtralite is especially for trading in a slow internet environment. Xtralite provides super-fast trading even on low bandwidth connections. 

KEAT Pro X offers you live-streaming of market data, helps create customized watchlists, charting tools, and stock recommendations. 

#3. Kotak Stock Trader

Kotak Stock Trader is a mobile app-based trading platform that is compatible with Android and iOS devices. 

With Kotak Stock Trader on your smartphone, you can trade anywhere, manage the portfolio, watch the market, access charts, news & research information. 

Kotak Stock trader app has a high 4.0 rating on the Google play store, however, Kotak has tremendously improved its iOS app and its rating on the Apple AppStore has been improved from 3.0 to 4.6 rating in one year.

Comparison Between Kotak Securities and UpStox 

#1. Kotak Securities vs UpStox (Basic Details)

Particulars	UpStox	Kotak Securities
Can trade-in	Stocks, Equity F&O, Currency F&O, and Commodity F&O	Stocks, Equity F&O, and Currency F&O, bonds, ETFs, and Interest Rate Futures
Can invest in	Mutual funds	Mutual FundsIPO
Other Products & Services	None	Stock Lending and Borrowings Portfolio management services Smart Will
Brokerage Plan	Single plan	Trade free plan Dealer assisted plan
Trading Platforms	Upstox Pro Web	KEAT Pro X
Trading App	Upstox Pro App	Kotak Stock Trader App
Partnered Platform/ software	Dartstock softwareFox Trader	None
Cloud Alert Tool	None	None

#2. Kotak Securities vs UpStox (Brokerage Charges)

Brokerage Charges	Details for Upstox Basic Plan	Details for Kotak Securities Dealer-assisted plan
Equity Delivery	Rs. 0	0.39% of transaction value
Equity Intraday	Lower of Rs. 20 per executed order or 0.05%	0.039% of transaction value
Equity Futures	Lower of Rs. 20 per executed order or 0.05%	0.39% of transaction value
Currency Futures	Lower of Rs. 20 per executed order or 0.05%	Rs. 9 per Lot
Commodity Futures	Lower of Rs. 20 per executed order or 0.05%	0.39% of transaction value
Equity Options	Rs. 20 per executed order	Rs. 39 per Lot
Currency Options	Rs. 20 per executed order	Rs. 5 per Lot
Commodity Options	Rs. 20 per executed order	Rs. 39 per Lot
Call and Trade Facility	Yes	Yes
Charges for Call and Trade	Rs. 20 per order	Rs. 20 per call.

#3. Kotak Securities vs UpStox (Account Opening & Other Charges)

Account Opening & Other Charges	Upstox	Kotak Securities(Dealer assisted plan)
Demat Account	Rs. 0	Rs. 0
Trading Account	Rs. 0	Rs. 499 (one-time)
Demat AMC Fees	Rs. 25 per month	Rs. 50 per month
3-in-1 account	IndusStox 3-in-1 account with IndusInd bank	Trinity (3-in-1) account with Kotak Mahindra Bank

Conclusion (Final Review)

Kotak Securities is best if you require too many other products and services apart from trading and investing. 

You can benefit from dealer-assisted trading, Portfolio Management Services,  stock lending and borrowing, and investment in interest rate futures. 

But, all these come at a high brokerage fee that is not suitable for volume intraday trading. 

Comparing Motilal Oswal and Angel Broking is like comparing apples to oranges.  Both the broking firms differ widely when it comes to brokerages and services.

Though Angel Broking is a full-service brokerage firm, other services are limited to investment in mutual funds and bonds. It does have a unique product, “Loans  Against  Shares” but the research advisory is nowhere in comparison to what Motilal Oswal offers.

On the other hand, Motilal Oswal additionally offers investment in insurance, gold, wealth, and portfolio management services. However, with Motilal Oswal, the brokerages are on a percentage basis and the annual fee is on the higher side.

Below is a quick comparison of brokerage fees and other charges between Motilal Oswal and Angel Broking.

Motilal Oswal vs Angel Broking (Quick Comparison)

Brokerage Comparison

Brokerage Charges	Angel Broking (iTrade Prime)	Motilal Oswal
Equity Delivery	Rs. 0	Up to 0.50% depending on the plan
Equity Intraday	Rs. 20 per trade	Up to 0.050% on each leg  depending on the plan
Equity Futures	Rs. 20 per trade	Up to 0.050% on each leg  depending on the plan
Currency Futures	Rs. 20 per trade	Up to 0.040% on each leg,  Up to  20 per lot both depending on the plan
Commodity Futures	Rs. 20 per trade	Up to 0.040% on each leg depending on the plan
Equity Options	Rs. 20 per trade	Up to Rs. 100 per lot on each leg depending on the plan
Currency Options	Rs. 20 per trade	Up to Rs. 20 per lot on each leg depending on the plan
Commodity Options	Rs. 20 per trade	—

Account Charges Comparison

Account Opening Charges	Angel Broking (Angel One)	Motilal Oswal
Demat Account	Rs. 0	Rs. 0
Trading Account	Rs. 0	Rs. 500 (usually waived off if you negotiate)
Demat AMC Fees	First Year – Rs. 0 Second-year onwards – Rs. 20 per month non-BSDA clients	First Year – Rs. 0 Second-year onwards – Rs. 299
Admin Charges	Rs. 0	Up to Rs. 199

Note – BSDA (Basic Services Demat Account) Clients are those investors or traders who want to invest a small amount of money which is below 2 lakh. SEBI has been directed to offer them low AMC charges to encourage small investors to invest in stocks.

For BSDA (Basic Services Demat Account) Clients charges are common among different brokers –

– ZERO for holding value less than 50,000

– Rs. 100 per year for holding value Between 50,000 To 2,00,000

Let’s go-ahead to compare both brokerage giants side-by-side in detail.

Angel Broking Demat Account (Angel One)

Note – Angel Broking has rebranded itself as Angel One. We are addressing the brokerage firm as Angel Broking to avoid any confusion.

Angel Broking (Angel One) has crossed the 6.25 million client base in September 2021. The company has a wide network of sub-brokers around 11,000 in over 2000 cities and towns in India. 

The company offers broking, advisory services, mutual fund investment, margin funding, and loans against shares.

Brokerage Charges

You need to pay a maximum of Rs. 20 per trade across the trading segment irrespective of the trading volume.

Trading Segment	Brokerage Charges (iTrade Prime)
Equity Delivery	Rs. 0
Equity Intraday	Rs. 20 per trade
Futures – Equity / Commodity / Currency	Rs. 20 per trade
Options – Equity / Currency	Rs. 20 per order

You have the facility to “Call & Trade” at an additional charge of Rs. 20 per order.

Margin Provided

Segment	Margin	Leverage
Equity Delivery	100% of trade value	1x
Equity Intraday	Up to 20% of trade value	5x
Future & Options(Equity, Currency and Commodities)	100% of NRML margin (Span + Exposure)	1x

Account Opening Charges 

Account Opening	Angel Broking Charges
Demat account	Rs. 0
Trading account	Rs. 0
Annual maintenance charges	First Year – Rs. 0 Second-year onwards – Rs. 20 per month non-BSDA clients For BSDA (Basic Services Demat Account) Clients – – ZERO for holding value less than 50,000 – Rs. 100 per year for holding value Between 50,000 To 2,00,000

Also read – Kotak Securities Review (in detail)

Angel Broking Trading Platforms

#1. Angel One Trade

Angel One Trade is a blazing fast browser-based trading platform. You can invest in equities, commodities, bonds, currencies, mutual funds, and IPOs in one place.

You can also monitor all the market trends through interactive charts and use technical indicators like Bollinger bands, Fibonacci retracement to make your trading strategies.

Key benefits

• Detailed stock price history and realtime price movements
• Latest news and live market information
• Comprehensive reports to analyze the risk
• All your investments whether equities, mutual funds, bonds or IPOs under one roof

#2. Angel One App

Angel One app is powered by ARQ technology that helps you invest or trade on the go from your mobile phone. ARQ is basically a rule-based investment engine that helps you invest in the right stock at the right time.

Apart from investing in stocks, you also stay updated with the latest market information alerts and tips to get maximum returns.

Key benefits

• Personalized investment tips macthed with your requirements
• Track your investments like stocks, mutual funds, IPO at one place
• Real-time market fluctuation updates
• More than 20 charts for in-depth market analysis.

Best For

Angel Broking Trading and Demat accounts are best for you if you need a full-service broker with flat brokerages. 

You would benefit from the flat brokerage of Rs. 20 per trade and a relationship manager to guide you for day trading.

Pros 

• Zero brokerage for delivery trades
• A fixed brokerage of Rs. 20 per trade
• Rs. 0 AMC fee for the first year
• Pan India presence across 2000 cities 

Cons

• Hidden charges added sometimes
• Does not discloses margin for BO trades

Also read – Zerodha Review

Motilal Oswal Demat Account 

Motilal Oswal offers a cutting-edge solid research advisory. The company has more than Rs. 69,500 crores of depository assets and is present at 2200+ locations pan India. 

The full-service broker like ICICI Direct, or Sharekhan but it has a massive 30 years of industry presence. The value-added services include;

• Retail broking and distribution
• Mutual Funds
• IPO
• Insurance
• Gold Investment
• Portfolio & wealth management

Motilal Oswal Brokerages & Annual Charges 

Motilal offers three types of plans. The brokerage details under each plan are as under;

1. Value Pack

Value Amount	Delivery	Intraday (on each leg)	Futures Equity & Currency (on each leg)	Futures Commodity (on each leg)	Options Equity (per lot on each leg)	Options Currency (per lot on each leg)
Rs. 2000	0.40% (min 2 paise)	0.040%	0.040%	0.030%	Rs. 50	Rs. 20
Rs. 3000	0.35% (min 2 paise)	0.035%	0.035%	0.025%	Rs. 45	Rs. 18
Rs. 5000	0.30% (min 2 paise)	0.030%	0.030%	0.020%	Rs. 40	Rs. 15
Rs. 10,000	0.25% (min 2 paise)	0.025%	0.025%	0.015%	Rs. 30	Rs. 12
Rs. 30,000	0.20% (min 2 paise)	0.020%	0.020%	0.010%	Rs. 25	Rs. 11
Rs. 50,000	0.15% (min 2 paise)	0.015%	0.015%	0.008%	Rs. 25	Rs. 10
Rs. 1,00,000	0.10% (min 2 paise)	0.010%	0.010%	0.007%	Rs. 20	Rs. 8

• Admin charges under the value pack for all the slabs is Rs. 199 from the first year itself.

• The AMC charges are NIL for the first year. From the second year onwards the charges are Rs. 299 per annum.  

2. Margin Scheme

Margin Up to	Delivery	Intraday (on each leg)	Futures Equity (on each leg)	Options Equity (per lot)	Currency F&O (per lot)	AMC Charges p.a	Admin Charges p.a
Rs. 9,999	0.50% (min 5 paise)	0.050%	0.050%	Rs. 100	Rs. 20	Rs. 800	Rs. 199
Rs. 10,000 to 24,999	0.50% (min 5 paise)	0.050%	0.050%	Rs. 100	Rs. 20	Rs. 299	Rs. 199
Rs. 25,000 to 49,999	0.40% (min 3 paise)	0.040%	0.040%	Rs. 75	Rs. 20	Free	NIL
Rs. 50,000 to 99,999	0.03% (min 3 paise)	0.030%	0.030%	Rs. 70	Rs. 20	Free	NIL
Rs. 1 lakh to 2,99,999	0.25% (min 3 paise)	0.025%	0.025%	Rs. 50	Rs. 20	Free	NIL
Rs. 3 lakh to 4,99,999	0.02% (min 2 paise)	0.020%	0.020%	Rs. 40	Rs. 20	Free	NIL
Rs. 5 Lakh	0.015% (min 1 paise)	0.015%	0.015%	Rs. 25	Rs. 20	Free	NIL

Margin Up to	Commodity Futures (on each leg)
Rs. 9,999	0.04%
Rs. 10,000 to 24,999	0.04%
Rs. 25,000 to 49,999	0.04%
Rs. 50,000 to 99,999	0.03%
Rs. 1 lakh to 2,99,999	0.02%
Rs. 3 lakh to 4,99,999	0.02%
Rs. 5 Lakh	0.01%

3. AMC 999 Plan

Trading Type	Brokerage Charges
Equity Delivery	0.50%
Equity Intraday	0.05% on each leg
Equity Futures	0.05% on each leg
Equity Options	Rs. 100 per lot
Currency Futures and Options	Rs. 20 per lot
Commodity F&O	0.030% on each leg

• Admin Charges – Rs. 199 annually
• AMC Charges – Rs. 800 annually

Margin Provided

The information on margins for various trade types is not available on the Motilal Oswal website. In my research, I have found the margin details as below – 

Segment	Margin	Leverage
Equity Delivery	100% of trade value	1x
Equity Intraday	Up to 20% of trade value	5x
Future & Options(Equity, Currency and Commodities)	100% of NRML margin (Span + Exposure)	1x

Also check – Axis Direct Review

Account Opening Charges 

Charges for account opening; 

Particulars	Charges
Trading account opening charges	Rs. 0
Demat account opening charges	Rs. 0

Motilal Oswal Trading Platform

#1. MO Investor

MO Investor is a web-based investment platform with the largest selection of research reports for in-depth technical and fundamental analysis and live streaming quotes. You also get the facility to place bulk orders.

The USP of the MO Investor platform is its Robo wealth and ACE features. Both are AI-based research tools that offer professional investment strategies to help you select the right stock for investment.

Key benefits

• RoboWealth recommends investment tips based on your risk profile
• Suggests top scrips as per your pre-defined investment goals
• Place multiple orders on one click
• Large selection of mutual funds to invest
• 30,000 plus research reports for in-depth analysis
• International stock investments

#2. MO Trader App

MO Trader app is for advanced traders integrated with Algo-based products like Trade Guide Signal, Option Writer, and Option Decoder. 

Key benefits

• Use up to 20 stock screeners
• Trade guide signal to help you make right trading decisions
• Place bulk orders from app
• Create and view 4 multi-asset watch lists
• Add up to 50 scrips in a single watchlist

Best For

Motilal Oswal trading and Demat account are best for you if you require research advisory and handholding while trading. 

You can also open an account if you trade low volumes, want to avail of PMS, or do not mind paying money for other services. 

Pros 

• Solid research advisory
• Wealth & portfolio management services
• Smartwatch app for market information

Cons

• A lot of brokerage plans which are confusing
• Rs. 199  admin charges 
• Account foreclosure charge of Rs. 500

Check out – Upstox Review

Motilal Oswal vs Angel Broking (Comparison Table)

Particulars	Angel Broking Details	Motilal Oswal Details
Broker Type	Full-Service Broker	Full-Service Broker
Can trade-in	Stocks, Equity F&O, Currency F&O, and Commodity F&O	Stocks, Equity F&O, Currency F&O, and Commodity F&O
Can invest in	Stocks Mutual funds Loans against shares IPO	Stocks Mutual Funds IPO Gold
Other Value Added Products	Research and advisory	Insurance Research and advisory Portfolio & Wealth management services
Based in	Mumbai	Mumbai
Brokerage Plan	Regular PlaniTrade Prime Plan	Value PackMargin Scheme
Brokerage Charges	Details for Angel Broking	Details for Motilal Oswal
Equity delivery	Rs. 0	Up to 0.50% depending on the plan
Equity Intraday	Rs. 20 per trade	Up to 0.050% on each leg  depending on the plan
Account Opening Charges	Angel Broking Details	Motilal Oswal Details
Demat Account	Rs. 0	Rs. 0
Trading Account	Rs. 0	Rs. 500 (can be waived off)
Demat AMC Fees	First Year – Rs. 0 Second-year onwards – Rs. 20 per month	Rs. 299
Admin Charges	Rs. 0	Up to Rs. 199
Account Type	2-in-1	2-in-1
Platforms	Angel Broking Details	Motilal Oswal Details
Trading Platforms	Angel Speed Pro Angel Broking Trade	MO Investor MO Trader Desktop-based trading platform
Trading App	Angel Broking App	MO Investor App MO Trader App

Conclusion

You should look for your trading needs before finalizing a stockbroker. If you need a decent trading platform, low flat brokerage, and margins then Angel Broking (Angel One) is a better option.

But, if you need to build wealth based on solid research advisory then go for Motilal Oswal. The brokerage additionally offers better Portfolio Management Services (PMS) and other value-added services (VAS). But the charges are on the higher side. 

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

Check out – Motilal Oswal vs Angel Broking

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. 

Also read – Kotak Securities Review (in detail)

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

Check out – Motilal Oswal vs Angel Broking

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

Check out – Motilal Oswal vs Angel Broking

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.