Zerodha vs HDFC Securities Comparison

HDFC Securities is a full-service broker that offers retail and institutional broking services with a higher brokerage fee. You can also avail the benefit of other value-added products including Loan products, Insurance, NPS, Investment Advisory, and Portfolio management services. 

Whereas Zerodha is a discount broker that allows you to trade or invest in stocks only. Zerodha offers discounted brokerage fees because Zerodha does not provide you with stock investment tips, research, or Robo advisory services.

Let’s compare Zerodha vs HDFC Securities on some common features like brokerage fees, AMC, trading platforms, and customer support.

Zerodha vs HDFC Securities Comparison Table

ParticularsZerodhaHDFC Securities 
Broker TypeDiscount BrokerFull-Service Broker
Year of Incorporation20102000
Exchange MembershipNSE, BSE, MCX and NCDEXBSE, NSE
Trade-inStocks/Equity, F&O, Commodities, Currency, Mutual Funds, IPOs, Bonds & Govt-SecuritiesStocks/Equity, Currency F&O, Commodity, Mutual Funds, Forex, Banking, SIP, IPOs, ETFs- Gold and Index, Insurance, NCD / Bonds
Account opening chargesRs 200+ Rs 100 for Commodity (optional)Free
Demat AMC FeesRs. 300Free for the first year
Rs. 750 (from 2nd Year onwards)
Intraday MarginUpto 5X on intradayMargin required 30% – 60% (depending on the scrip) of the order value.
Brokerage ChargesZerodha PlanHDFC Securities (Standard plan)
Equity Delivery0 (Free)0.50% or min Rs.25
Equity Intraday0.03% or Rs. 20 per executed order whichever is lower0.05% or min Rs.25
Equity Futures0.03% or Rs. 20 per executed order whichever is lower0.025% or min Rs.25
Equity OptionsRs. 20 per executed orderHigher of 1% of the premium amount or Rs.100 per lot
Currency Futures0.03% or Rs. 20 per executed order whichever is lowerRs 23 per contract
Currency Options0.03% or Rs. 20 per executed order whichever is lowerRs 20 per contract
Commodity Futures0.03% or Rs. 20 per executed order whichever is lower0.020% or minimum Rs.20 per order
Commodity Options0.03% or Rs. 20 per executed order whichever is lowerRs.100 per lot
Call & Trade ChargesRs. 50 per orderFree

HDFC Securities Vs Zerodha – Broker Comparison

Zerodha offers zero brokerage on equity delivery and for intraday is 0.03% or Rs. 20 per executed order whichever is lower. On the other hand, HDFC Securities offers standard and value plans with different brokerage charges to its customers.

#1. HDFC Securities (Standard Brokerage Plan) Vs Zerodha (Flat Brokerage Plan)

SegmentZerodha(Flat Brokerage Plan)HDFC Securities(Standard Brokerage Plan)
Equity Delivery0 (Free)0.50% (for both buy and sell orders) OR minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell)
Equity Intraday0.03% or Rs. 20 per executed order whichever is lower0.05% (for both buy and sell orders) ORa minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell)
Equity Futures0.03% or Rs. 20 per executed order whichever is lower0.025% OR a minimum of Rs. 25, ORMaximum of 2.5% on transaction value (both buy and sell)
Equity OptionsRs. 20 per executed orderHigher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
Currency Futures0.03% or Rs. 20 per executed order whichever is lowerRs. 12 per contract on each side 
Currency Options0.03% or Rs. 20 per executed order whichever is lowerRs. 10 per contract on each side 
Commodity Futures0.03% or Rs. 20 per executed order whichever is lower0.020% or minimum Rs. 20 per order
Commodity Options0.03% or Rs. 20 per executed order whichever is lowerRs.100 per lot
Call & Trade ChargesRs. 50 per orderFree

You can also go through our in-depth article on HDFC Securities Review to know the pros and cons of HDFC Securities in a detailed manner.

#2. HDFC Securities Value Plans

HDFC Securities Value plans to charge as low as 0.10% equity delivery and Rs 20 per order for derivatives trading. Value plans are only applicable to resident customers. 

There are two types of value plans –

  1. Value Plan with a validity of 360 days – This plan is auto-renewed at the end of the tenure.
Subscription Charges and Brokerage Charges
Plans19929999919992999399949995999
Equity Delivery0.32%0.27%0.22%0.18%0.15%0.15%0.10%0.10%
Equity Intraday0.032%0.027%0.022%0.018%0.015%0.015%0.010%0.010%
Options (per order)Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20
Futures (per order)Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20Rs 20
Zero Brokerage on ETFNoNoNoNoNoYesNoYes
  1. Brokerage Value Plan – Lifetime Validity
Value Plan NameValue 30Value 25Value 20Value 15
Value Plan Charges10000/-25000/-50000/-1,00,000/-
Free Equity Delivery Volume 40,00,000/-150,00,000/-4,00,00,000/-12,00,00,000/-
Free Equity Delivery Volume Validity360 days360 days360 days360 days
Equity Intraday0.030%0.025%0.020%0.015%
Equity Delivery0.30%0.25%0.20%0.15%
Options (per order)Rs 20Rs 20Rs 20Rs 20
Futures (per order)Rs 20Rs 20Rs 20Rs 20

You can also read our comprehensive Zerodha Review article to understand the pros and cons of the Zerodha Demat account.

Winner – Zerodha

HDFC Securities Vs Zerodha Account Opening Charges & AMC Comparison

#1. Account Opening Charges

HDFC Securities offers a free Demat & trading account whereas Zerodha charges Rs. 200 for account opening. You need to pay Rs. 100 more to open a commodity trading account with Zerodha. Commodity trading is optional in Zerodha.

HDFC SecuritiesZerodha
Account Opening ChargesZero (Free)Rs 200 (equity only)
Rs 300 (with commodity account)

Winner – HDFC Securities

#2. Account Annual Maintenance Charges (AMC)

Zerodha charges Rs 300 for demat account AMC charges, on the other hand, HDFC Securities charges Rs 750 from the 2nd year onwards. 

AMC FeeZerodhaHDFC Securities
Trading AMC FeeZeroZero
Demat AMC FeeRs. 300Free for the first year
Rs. 750 (from 2nd Year onwards)

Winner – Zerodha, as you have to pay more AMC for HDFC Securities.

Zerodha Vs HDFC Securities Margin

As per SEBI regulations on peak margins from 1st September 2021, Zerodha offers up to 20% of the trade value (5x leverage) for intraday trading. On the other hand, HDFC Securities is not transparent in disclosing the margin details. 

You can find out the exact HDFC Securities margins for a particular intraday trade from the “Know Your Margin” screen after login into the trading platform.

SegmentZerodhaInformation on the HDFC Securities website
Equity Delivery100% of trade value (1x leverage)Information not available
Equity Intraday20% of trade value (5X leverage) Margin required 30% – 60% (depending on the scrip) of the order value.
F&O (Equity, Currency & Commodities)100% of NRML margin (Span + Exposure) (1x leverage)Margins in the derivatives segment vary from contract to contract and are decided by the exchange daily.

You can also look at our list of best demat and trading accounts in India to know other options in the market as well.

Zerodha Vs HDFC Securities Trading Platforms

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

Zerodha doesn’t provide IPO investment through mobile apps. 

HDFC Securities provides various trading platforms to its customers.

  • HDFC Securities Trade (mPowered) – Web-based Trading Platform
  • HDFC Securities Mobile App – A mobile trading app for iOS and Android 
  • ProTerminal – A desktop-based trading platform with & stock analysis with Ajax-based technology, access at a subscription fee of Rs 1999 for 1 year.
  • ProTerminal Mobile App – Mobile-based trading app, can access the ProTerminal platform by paying the subscription fee of Rs 1999 for 1 year.
  • BLINK – Desktop trading platform for high-speed trading in the equity and F&O segments, need to pay a subscription fee of Rs 2999 for 6 months and Rs 3999 for 1 year.
  • Voice Enabled Investing, Arya –  Invest through simple voice commands over Google Assistant, Google Home and Amazon Alexa-powered devices.
  • HDFC Money (Digify) – Invest in mutual funds platform

HDFC Securities Vs Zerodha Customer Support

HDFC Securities is a full-service broker offering high-quality customer service, whereas Zerodha is a discount broker providing a better customer support system as compared to all other discount brokers in India.

HDFC Securities Customer CareZerodha Customer Care
Account opening number022 3901 9400080 4719 2020 080 7117 5337
Account opening email[email protected] 
Trading issuesPh: 022-3045 3600Email – [email protected]080 4718 1888080 4718 1999

Zerodha Vs HDFC Securities: Which one is better?

Zerodha is the best option for retail investors with low fees and easy-to-use trading platforms. 

HDFC Securities is a perfect fit for those who are looking for a broker to provide more personalized support in their stock investments and don’t mind paying high brokerage in return. 

About Rajan Dhawan

Rajan has covered personal finance and investing for over 5 years. Previously, he was in the IT field for 8 years after completing his MCA but his deep interest in personal finance led him to become an investing expert. He is passionate about investing, stocks, startups, and cryptos.

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