Reviewed by Neil, Founder, PaisaTrade.in · Updated 2026-09-29
Zerodha Review 2026
The Discount Broker That Started It All — Complete brokerage analysis, charges breakdown, platform review, and honest verdict for Indian investors.
Best trading terminal (Kite) + Varsity free education
Brokerage
₹20
AMC
₹300/year
Active Clients
68 Lakh
Founded
2010
About Zerodha
Zerodha is one of India's most recognized stock brokers, registered with SEBI (Registration No: INZ000031633). Founded in 2010 and headquartered in Bangalore, Karnataka, Zerodha has built a strong reputation in the Indian capital markets. With over 68 Lakh active NSE clients, making it India's largest broker in terms of registered clients.
As a discount broker, Zerodha offers trading across Equity, F&O, Currency, Commodity, Mutual Funds, IPO segments. The broker operates a app-first, mobile-native trading infrastructure, catering primarily to active traders, algo traders, serious investors.
The brokerage model at Zerodha is straightforward: flat fees with zero delivery brokerage. This model favours active traders and long-term investors alike, as delivery (holding) trades incur no brokerage — only SEBI charges, STT, stamp duty, and exchange fees apply.
Account Opening Process
Opening an account with Zerodha is a fully online, paperless process. You need your PAN card, Aadhaar, bank account details, and a signature image. The KYC verification is Aadhaar-based (eKYC) and typically completes within 24–48 hours. Account opening fee is ₹200 (online).
Brokerage Calculation Example
Let's say you buy 100 shares of Reliance at ₹2,800 (total value = ₹2,80,000):
Margin & Leverage
For intraday equity trades, Zerodha provides Up to 5x (selected stocks) leverage. For F&O, margin requirements follow SEBI's SPAN + Exposure framework set by the exchanges. Note: As per SEBI regulations, naked short selling in options requires full premium upfront, and margin pledge requirements were updated in 2021.
Zerodha offers a Margin Trading Facility (MTF) for select stocks, allowing you to hold leveraged positions for more than one day by paying daily interest.
Tax & Compliance Features
Zerodha provides detailed P&L statements, tax P&L reports (for ITR filing), and SEBI-compliant contract notes for every executed trade. These are accessible from the web platform and downloadable as PDFs. For mutual fund investments, Zerodha provides capital gains statements aligned with LTCG/STCG tax brackets.
SEBI Registration & Safety
Zerodha is registered with SEBI under registration number INZ000031633. Client funds are held separately from the broker's own funds as per SEBI's client asset segregation norms. Zerodha is also a registered member of NSE, BSE, MCX, and NCDEX (where applicable). Your demat account is held with NSDL or CDSL — separate from the broker — ensuring your securities are safe even if the broker faces financial difficulties.
Active Client Base
68 Lakh
Active NSE Clients (2026)
#2
NSE Rank by Active Clients
Zerodha ranks #2 among all NSE-registered stockbrokers by active client count. NSE publishes this data monthly — Zerodha's consistent presence in the top 20 reflects strong client retention and new account growth. The broker primarily serves active traders, algo traders, serious investors.
Zerodha mein invest karo,
PaisaTrade se seekho.
Zerodha aapko trading platform deta hai — PaisaTrade aapko woh knowledge deta hai jo chahiye sahi decisions lene ke liye. Hamare structured courses, paper trading simulator, aur Sensa AI se apni trading skills develop karo — risk-free.