Zerodha is India’s largest and most trusted discount broker, offering a low-cost trading platform with advanced tools and features. On the other hand, INDmoney is a comprehensive wealth management platform that provides a one-stop solution for all your financial management needs.
Let’s discuss the side-by-side comparison of the demat account services provided by Zerodha and INDmoney to help you choose the right platform.
Brief Overview Of Zerodha And INDmoney
#1. Zerodha
As per our research report on top 20 stock broker companies in India, Zerodha has the largest client base with more than 64 lakh clients which is approximately 20% of the total Demat account holders.
Founded in 2010, Zerodha has gained trust in the industry for its transparent fee structure and user-friendly interface, making it a popular choice for stock market participants.
Zerodha allows you to invest in equity, currency, commodity, IPO, F&O, government bonds, Govt. securities, and mutual funds.
#2. INDmoney
INDmoney is a comprehensive wealth management platform that simplifies financial management. It provides personalized investment advice, tracks expenses, offers tax optimization, and manages various financial aspects in one place.
Founded in 2019, INDmoney aims to empower users with a holistic approach to financial well-being and wealth management. As of June, 2023, INDmoney has a 1.2+ lakh active client base.
INDmoney also offers investing in US stocks and ETFs but you can also invest in Indian stocks, mutual funds, and fixed deposits. INDmoney allows you to invest in Indian stocks but doesn’t offer to trade in F&O, commodity, and currency segments.
Fees And Charges
#1. Account Opening Charges
INDmoney offers lifetime free demat and trading account opening facility.
On the other hand, Zerodha charges Rs. 200 for an online trading account opening. However, you need to pay Rs. 100 more to open a commodity trading account with Zerodha. Commodity trading is optional in Zerodha.
If you want to open your account offline, Zerodha charges Rs. 400 for an equity trading and Demat account, and Rs. 200 for a commodity trading account.
| INDmoney | Zerodha | |
| Demat Account Opening Charges | Rs. 0 (Free) | Rs. 0 (Free) |
| Trading Account Opening Charges (One Time) | Rs. 0 (Free) | Rs 200 (equity only) Rs 300 (with commodity account) |
#2. Annual Maintenance Charges (AMC)
INDmoney does not charge for demat AMC while Zerodha charges Rs 300 annually (Rs. 75 quarterly).
| AMC Fee | INDmoney | Zerodha |
| Demat AMC Fee | Rs. 0 (Free) | Rs. 75 per quarter (Rs. 300 annually) |
Winner – INDmoney
INDmoney Vs Zerodha Brokerage Charges
Zerodha offers zero brokerage charges on equity delivery and 0.03% or Rs. 20 per executed order whichever is lower for intraday trading.
While INDmoney charges a lower of 0.05% or Rs 20 per executed order for equity delivery and intraday trading. However, INDmoney does not trade in currency and commodity segments.
| Segment | INDmoney | Zerodha |
| Equity Delivery | 0.05% or Rs 20 per executed order whichever is lower | 0 (Free) |
| Equity Intraday | 0.05% or Rs 20 per executed order whichever is lower | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Futures | Rs. 20 per executed order | 0.03% or Rs. 20 per executed order whichever is lower |
| Equity Options | Rs. 20 per executed order | Rs. 20 per executed order |
| Currency Futures | Not Available | 0.03% or Rs. 20 per executed order whichever is lower |
| Currency Options | Not Available | Rs. 20 per executed order |
| Commodity Futures | Not Available | 0.03% or Rs. 20 per executed order whichever is lower |
| Commodity Options | Not Available | Rs. 20 per executed order |
Winner – Zerodha
Mutual Fund and IPO Investment Charges
Both INDmoney and Zerodha offer a lucrative advantage to you by providing zero charges for mutual fund investments through their platforms.
Additionally, both platforms do not charge any fees for IPO investments, making it easier for you to participate in the IPO.
Winner – Tie
Zerodha Vs INDmoney Trading Platforms
As per my research, Zerodha provides a simple, clutter-free, and user-friendly “Kite” trading platform.
Zerodha offers various trading platforms to its customers.
- Kite – Web-based trading platform for investing in stocks
- Kite Mobile – Trading mobile app for Android/iOS.
- Coin or Coin app – invest in mutual funds or bonds
- Console – Back-office platform
- Sentinel – Live market price alerts tool
INDmoney provides two trading platforms to its clients.
- INDmoney Mobile App – All-in-one app to invest in Indian stocks, mutual funds, IPOs, ETFs, and US stocks.
- INDmoney Desktop Trading Platform – Web-based platform for trading and investing in Indian stocks, mutual funds, IPOs, ETFs, FDs, and US stocks.
INDmoney vs Zerodha: Investment Options
#1. Zerodha Investment Options
A) Stocks and ETFs
Zerodha is a stockbroking company with its flagship product “Kite” offering intuitive trading and investing in NSE and BSE-listed stocks. It enables long-term and short-term stock trading, including intraday and delivery-based options, and also provides access to ETFs of various indices.
B) Mutual Funds
Zerodha’s COIN app offers direct investment in over 2000 mutual funds, saving up to 1.5% annually in fees. It offers a wide range of mutual fund options based on objectives and risk tolerance, with tools like a fund screener and portfolio tracker for research and selection.
C) F&O and Commodities
Zerodha simplifies Futures and Options (F&O) and Commodities trading through user-friendly platforms like Kite, Sensibull, and Streak. It offers trading in various commodities and index futures and options, providing flexibility and diversification opportunities.
D) IPOs
Zerodha allows you to participate in IPOs through its Kite app, enabling easy orders from the opening day to the closing day. You can place up to 3 bids, providing flexibility to invest in promising new companies.
E) Fixed Income Instruments
For safer investments, Zerodha’s COIN app offers fixed-income products, including government securities and Sovereign Gold Bonds (SGBs). These provide capital gains and interest, offering alternatives to traditional fixed deposits. Gold ETFs are also available for gold investments.
#2. INDmoney Investment Options
A) Indian Stocks
INDmoney offers easy access to Indian stocks. With its demat account, you can invest in NSE and BSE-listed stocks. It categorizes stocks by theme, technical strength, dividends, and industry sectors.
The platform also provides handy screeners to help you find the right investments, and it includes ETFs tracking major Indian indices for portfolio diversification.
B) Mutual Funds
INDmoney’s platform streamlines mutual fund investing, with features like performance tracking, real-time analysis, and advisory services. Investors can choose from various fund types, including equity, debt, hybrid, gold, and liquid funds, and start systematic investment plans (SIPs).
C) Fixed Deposit
INDmoney makes fixed deposit management easy through a dedicated dashboard. You can track your entire FD portfolio, access average return percentages, and explore the best FD schemes from various banks, complete with tenure, interest rates, and minimum investment details.
D) US Stocks
INDmoney stands out by offering access to individual US stocks, US funds, ETFs, and a US Stock Rewards program. This feature, facilitated by Finzoomers Services Private Limited, allows fractional investing in global shares on major US stock exchanges like NASDAQ and NYSE, enabling portfolio diversification and exposure to top international corporations.
Customer Support: Zerodha vs INDmoney
#1. Zerodha Customer Support
Zerodha has great customer support for account opening and any trading issues.
| Account opening number | 080 4719 2020 080 7117 5337(Mon – Fri from 8:30 AM to 5:00 PM)(Saturday – 9:00 AM to 2:00 PM) |
| Trading issues support | 080 4718 1888080 4718 1999(Mon – Fri from 8:30 AM to 5:00 PM) |
| Call & Trade | 080 4718 1888(Mon – Fri from 9:00 AM to 11:30 PM) |
| Ticket raise | Zerodha ticket to raise |
#2. INDmoney Customer Support
INDmoney on the other hand has a dedicated Escalation Matrix for each asset segment.
A) US stocks escalation matrix
| Details | Email ID |
| Customer Support | [email protected] |
| Level 1 Escalation | [email protected] |
| Management Escalation | Chief Compliance Officer (Sunny Bajaj): [email protected] Executive Officer (Ashish Kashyap): [email protected] |
B) Indian stocks escalation matrix
| Details | Contact Person | Contact No. | Email Id | Working Hours |
| Client Servicing | Tushar Tandiwala | 07314852049 | [email protected] | Monday to Saturday9.00 am to 6.00 pm |
| Head of Client Servicing | Deepak Gupta | 07314852021 | [email protected] | Monday to Saturday9.00 am to 6.00 pm |
| Compliance Officer | Ameya M. Bhelekar | 07314852022 | [email protected] | Monday to Friday10.00 am to 7.00 pm |
| Whole Time Director | Nikhil Behl | 07314852061 | [email protected] | Monday to Friday10.00 am to 7.00 pm |
C) Mutual funds escalation matrix
| Details | Email ID |
| Customer Support | [email protected] |
| Level 1 Escalation | [email protected] |
| Management Escalation | Chief Compliance Officer (Sunny Bajaj): [email protected] Executive Officer (Ashish Kashyap): [email protected] |
D) Insurance escalation matrix
| Details | Email ID |
| Customer Support | [email protected] |
| Level 1 Escalation | [email protected] |
| Level 2 Escalation | [email protected] |
| Management Escalation | Chief Compliance Officer (Sunny Bajaj): [email protected] Executive Officer (Ashish Kashyap): [email protected] |
E) INsta Cash loan escalation matrix
| Details | Email ID |
| Customer Support | [email protected] |
| Management Escalation | Chief Compliance Officer (Sunny Bajaj): [email protected] Executive Officer (Ashish Kashyap): [email protected] |
Features And Benefits
#1. Zerodha Features
- Flexible Charting: Easily move the chart window around your desktop.
- Real-Time Prices: Stay updated with real-time price fluctuations.
- Multi-Chart Functionality: View multiple charts on one screen with over 100 indicators.
- In-Depth Analysis: Conduct fundamental and technical stock analysis for informed investments.
- Charting Options: Access top-notch charts from TradingView and ChartIQ.
- Diverse Order Types: Choose from various order types, including bracket orders and after-market orders.
- Seamless Chart Trading: Place orders directly from the chart without closing it.
- Price Alerts: Set alerts to be notified when prices hit your buy/sell targets.
- Portfolio Insights: Keep track of holdings and access profit-loss reports for tax and analysis purposes.
#2. INDmoney Features
- AI-Powered Analysis: Utilize AI-driven insights for in-depth earnings, profitability, and valuation analysis.
- Expert Insights: Access analyst forecasts and ratings from industry experts for well-informed decisions.
- Customized Filters: Find stocks based on specific criteria with customizable filters and sorting options.
- Intraday Trading: Engage in intraday trading for quick profits.
- Mutual Fund Rebalancing: Automatically rebalance your mutual fund portfolio through the STP feature.
- Unbiased Recommendations: Receive objective buying and selling suggestions backed by AI calculations.
- Company Details: Explore comprehensive company insights, including critical parameters.
- After-Market Orders: Place after-market orders for a fee of Rs. 10 per order.
Conclusion
INDmoney is a great platform for money management and investing in US stocks. While in terms of demat and trading accounts, Zerodha is a better choice.
Zerodha is a well-established reputation in the demat world and specifically to active traders. Additionally, Zerodha has excellent customer support and a user-friendly interface, ensuring seamless trading and investing experiences.
Conversely, INDmoney has a bit complex interface with a plethora of features like AI-powered stock analysis, automatic portfolio rebalancing, and access to analyst forecasts and ratings.
FAQs
Zerodha is known for its user-friendly trading interface, such as the “Kite” platform.
Yes, there are charges for transactional transfers through net banking. INDmoney charges Rs. 10, while Zerodha charges Rs. 9.
Zerodha offers commodity trading, but INDmoney does not trade in commodities.
Zerodha charges 0.03% or Rs. 20 per executed order for intraday trading, while INDmoney charges a lower of 0.05% or Rs. 20 per executed order.
Yes, both platforms offer after-market orders. Zerodha charges Rs. 50 per order, while INDmoney charges Rs. 10 per order.
Zerodha offers free equity delivery trading, while INDmoney charges a lower of 0.05% or Rs. 20 per executed order.
Yes, both INDmoney and Zerodha offer mutual fund investments with no charges.
INDmoney excels in money management and US stock investments, while Zerodha is better for demat accounts and trading in Indian markets.
INDmoney provides access to US stocks and ETFs, making it a great choice for investors looking to diversify their portfolio internationally.
