In terms of active clients and market share, Zerodha is India’s largest brokerage. Unicorn is valued at over $1 billion and has an annual profit of over 100 crores in 2021 because of its high-tech and user-friendly platform. The company, which was founded in 2010 and now has over 6 million customers, seeks to be the top technology, value, and support broker.
The Economic Times magazine named Nitin Kamat, the company’s founder and CEO, one of India’s “Top 10 Businessmen to Watch Out For” in 2016. Although the founder’s income has been a source of contention in the past, it has now been proven that his earnings do not surpass 100 crores.
The company is regulated by SEBI, which means it follows the Securities and Exchange Board of India’s trading rules and standards. It is also a member of India’s National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), allowing dealers to trade thousands of equities.
Kite is a custom trading platform that works in tandem with the Streak algorithmic trading platform. Because the prior Pi platform is no longer maintained, all clients use Kite. Kite is a web platform that can also be converted into a desktop program for Mac and Windows 7.
With a simple user interface and a straightforward layout, trading on the Kite platform is simple. The charting capabilities are remarkable, and they’re on par with the industry’s most popular MetaTrader 4 and 5 platforms. Kite has six chart types and over 100 indicators, including the popular 4-hour chart. Level 3 data (depth 20) and Level 2 data are also available to traders.
Stop-Loss Limit (SL), which is the price plus the trigger price, and Stop-Loss Market (SL-M), which is the trigger price only, are the two forms of stop-loss orders.
Good Till Triggered (GTT) orders are a Kite platform feature that allows traders to define triggers for entering and exiting equities. They can be used in conjunction with a stop loss, with one canceling out the other’s triggering. The GTT function is completely free to use.
Streak 4.0, which will replace Streak 3 at the end of 2020, is integrated with Kite. The software supports algorithmic trading, which allows traders to set up automated transactions without having to know how to program them.
Trading platform kites
The Q profile system has been superseded by the Console back-office trading account platform. For account information, analytics, and visualization, it provides a consolidated dashboard and reporting tool.
Users can obtain their general and tax income and loss (P & L) statements for their trades after logging into the console program. This comprises gains and losses from realized (closed trades), net realized (closed trades after taxes), and unrealized (currently closed positions). This can be examined for any time period, including intraday P & L for the entire year or today’s P & L. In addition, Zerodha has partnered with Quicko to make it easier for traders to calculate taxes and fill out ITR-3 forms.
Traders can use the console to access the IPO; prior instances include the IPOs of Yes Bank and Zomato. Clients, on the other hand, will not be able to check the progress of an IPO application for a company’s upcoming IPOs. A console can also be used to edit personal information such as an email address.
Other features include “gift promotions,” which allow users to give shares to friends and family. The kill switch feature on the console allows traders to momentarily turn off their trading segment to avoid burnout. Traders can now utilize the console as a trading log while tracking their investment goals thanks to the newly launched nudge feature.
The coin is a platform that allows traders to buy direct mutual funds online through their demo account without paying fees. Clients can invest in new fund offerings (NFOs) directly from the Coin platform. Like Kite, Coin is highly regarded for its ease of use and smart interface, as well as receiving positive feedback from Quora users.
The brokerage company offers a wide range of markets for trading:
- Shares and IPOs
- Currency derivatives
- Futures and Options (F & O)
- Commodity derivatives include gold, silver, and oil.
- Direct Mutual Funds and Exchange Traded Funds (ETFs)
- Bonds and Government Securities (G-Secs), including the Sovereign Gold Bond (SGB) scheme and Treasury Bills (T-Bills),
Clients also have the option to invest in small packages, which are collections of stocks based on an idea, such as stocks that benefit from growing consumption in rural areas.
Spreads and commissions
There are no hidden expenses at this firm, making it simple for traders to establish their trading strategy. The majority of the company’s revenue comes from commission payments. Intraday transaction fees are a fixed fee of Rs. 20% or 0.03 percent (whichever is less) on all trades; however, shipping trades have no commission.There are no costs for investing in stocks or mutual funds directly, but there is an account charge.
Stocks can be traded with leverage of between 3x and 5x, depending on the stock. Leverage is limited due to restrictions imposed by SEBI. Go to the broker’s website for more details.
Apps for the Kite 3 and Coin platforms are available on the App Store and Google Play, respectively.
The app’s graphing features are outstanding, and Zerodha has worked hard to make an app that is both responsive and intuitive. However, error messages persist in the most recent versions.
Once registered, investors can deposit funds into their account in three different ways:
UPI IDs allow traders to instantly transfer funds from their bank accounts for free.
Traders can transfer funds immediately from the trading site via the rapid payment gateway, although there is a fee of Rs. 9 plus taxes for this service. This service is available at approximately 25 banks.
Using bank account details, IMPS/NEFT/RTGS Send can be utilized to transfer funds (HDFC bank). Oil and RTG deposits take 2 to 10 hours, IMPS deposits take 10 minutes (during market hours), and check deposits take 3 to 5 business days. The customer’s bank may impose charges. Traders can use the free eMandate option to have funds automatically sent from their bank account to their trading account. There are no minimum deposit restrictions for this firm.
Withdrawal time and fees
Withdrawal requests at 20:30 every business day. The funds are then transferred to the specified bank account within 24 hours. Please note that digital wallet transfers are not accepted.
Traders can receive 10% of brokerage fees paid by a friend they suggested through the broker’s referral program, which can be withdrawn to a bank account. Each new account registration earns referrers 300 additional points.
The broker has previously conducted trials such as 30-, 50-, 60-, and 90-day trading jobs with the goal of making a profit at the end of the time periods. The winners will receive a digital pdf certificate for their work following these events. Please keep in mind that phone calls are non-refundable.
The Securities and Exchange Board of India, or SEBI, regulates Zerodha. SEBI is a well-regarded regulator that requires customers to undergo a Know Your Customer (KYC) process, which may be done on the Zerodha Re-KYC page. SEBI also mandates in-person verification (IPV), which necessitates the use of a webcam or cell camera by traders.