Are you ready to begin your investment and trading journey? or even if you are an existing market participant and if you want to try out the cutting edge features of Zerodha then this article is for you.
Zerodha was founded by Nithin Kamat in the year 2010 with a motive of breaking the barriers which is also the translation behind the term and name “Zerodha” in Sanskrit. It was the idea and urge to make trading and investing easier for the whole nation which fueled the drive of Nithin to create a platform that does not act as a barrier for anyone like he himself faced in his trading career till now.
Zerodha is the number one broker for stock market trading and investing and I am not the only one saying this but, the data shows that Zerodha acted as a revolution with its platform for the people who were interested in trading but were bounded by difficulties like high brokerage charges, lack of proper trading terminal and also sometimes the lack of support from the brokerage house itself.
According to the statistics, Zerodhas client to complain ratio is the lowest if compared to other brokerage houses be it online or Traditional brokers.
Also Read : Zerodha App Review
They have the best in category pricing model which we will discuss in detail later in the review.
They built a platform from scratch for both the web based traders and for the mobile based traders.
According to the data, more than 5 million clients do their trading with Zerodha on day to day basis placing billions of orders without any issues. The founder and CEO of Zerodha Mr Nithin Kamat were also featured in an article by Economic times “Top 10 businessman to look out for” in 2016, since then Zerodhas team and customer base never looked back.
Zerodha allows for investing in equity, futures and options, commodities, currency and mutual funds from a single account. However, the commodities section has to be activated manually.
Zerodha offers three types of account a trading account to trade in equity derivatives, a Demat account for equity delivery and a commodity derivatives account to trade in commodity futures and options.
Note: A Demat account is not necessary if you are planning to trade only with equity derivatives.
Zerodha has also recently started a collaboration same as ICICI direct but with IDFC first bank where if you have an account with IDFC first bank then you are already entitled to a 3 in 1 account through which you can do seamless trading, Demat holdings and transactions.
Even if everything is very easy to follow and you were already working with other platforms of the same niche, still it sometimes gets daunting when you get stuck on any of the account opening steps.
No need to worry, as we are here to help you with all the details of the documents required, the charges and a step by step guide to help you in the account opening process with Zerodha.
So, there are two ways by which you can apply for an account with the Zerodha platform.
- Online Account opening
- Offline account opening
The team of Zerodha is quick with the account opening process.
If you have all the documents ready with you with all the scanned soft copies with you then the account opening process gets easy and quick.
For online account opening the time required is around 10 minutes only if you upload the required documents successfully.
For the offline account process, it might take 2-4 days depending on the verification and the form submission process through courier/post.
Below mentioned are the documents which are required for the account opening process and are always recommended to keep the soft copies of all of these handy while you sit for the account opening process to eliminate any hindrance.
- A scanned copy of your Pan card or a clear picture of your Pan card in which the pan card number is clearly visible along with the signature.
- Aadhar card (Not mandatory for offline account opening process)
- Latest bank account statement or A canceled cheque with your name on it.
- For trading in Futures and Options, you need income proof or your Demat holding statement, or your latest salary slip.
- A scanned copy of your signature.
Once you have all of these documents with you then you are ready to open an account with Zerodha with zero hindrance.
For offline account opening, you need to search a PDF of the Zerodha account opening form which is readily available on google and once you are done filling it with all the required information then you can just attach these aforementioned documents with it and post it to the Bangalore office of Zerodha and your documents once verified the account will be ready and they will let you know with a phone call or a welcome email within 2 days of verification.
For the online account process, it is fairly easy to go to the website Zerodha.com with all the documents and signup then after uploading all the documents your account will be ready in minutes. Do remember to select all the types of segments you want to be enabled in your account. You can also activate the segments at your convenience from the console of your Kite account.
If you are still not confident to open an account online or you might be facing some problem then read further for detailed instructions on how to open your online account with Zerodha.
- Open the Zerodha website and go to the account opening page on your browser (Chrome or Firefox is recommended, however, you can use any).
- Enter the mobile number to start signup and then enter the one time password that Zerodha sends on your number, although it is not necessary that you have the same mobile number which is mentioned on your aadhar card but, you should have access to the mobile number attached to your aadhar card as a one time password will be sent on that number too for verification purposes.
- On the next page enter your pan card details and your date of birth when asked.
- On the next page, you can complete the one-time payment process through UPI or net banking or card payment. It is recommended to keep the transaction ID with you in case to avoid any issues with payment verification failure or any future issues that may arise.
- On the next step complete your aadhar verification process with the one-time password, they send you on the number registered with your aadhar card.
- On the next step, it will take you to a page where you need to fill in all of your personal details as asked.
- In the next step, you need to link your bank account for withdrawals. Please note that in this process only the account which belongs to you can be linked and the name of the bank account user should match the name of the aadhar card attached.
- Now on the next step, you need to complete In-person verification process in which you need to upload a photo of yours with the OTP provided by Zerodha written clearly on a piece of white paper.
- In the next step, you will need to upload all the soft copies of the aforementioned documents one by one on each of the fields.
- On the next step to enable the Equity segment, you need to click on the esign equity option which will take you to the NSDL page, on the page you need to click the esign button and enter your aadhar card number and the One time password sent by NSDL on the registered mobile number with aadhar. The same steps have to done when activating the commodity segment.
- Once all of the above mentioned processes are done properly you will be greeted with a congratulations message and you will be a proud owner of your own Trading and Demat account with the top broker of India, Zerodha.
- Now you can go ahead and log in with the user id and password sent by Zerodha on your registered email. You can change the password and also enable TOTP authentication from your profile page.
The pricing model is mentioned below for you to go through in case if you have any doubt regarding the charges.
The Pricing model is as below:
- Trading and Demat account opening charges-200
- Demat account annual maintenance charges-300
- Equity delivery charges- zero
- Intraday charges- 0.03% or rs20 whichever is lower
- Future and options-0.03% or rs20 whichever is lower
- Commodity- 0.03% or rs20 whichever is lower
- Mutual fund investment charges- zero
- Auto square off charges-50rs
- The intraday margin is up to 6x depending on the stock.
- Derivatives margin is 1.3x
- STT, ETC, GST, Stamp duty and SEBI charges are extra.
is in no way or should not be treated as any kind of investment advice, It is always advisable for the users to do their own research and try everything before putting in their hard earned money. It is also recommended to contact your financial advisor before jumping in on investments.
You can also check out our comprehensive review of the platform where you will get to know all the ins and outs of the platform and the features that you can make use of for a successful trading career.
All the best.
