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Zebu Trade Review
Zebu Trade is an Indian discount broker based in Chennai. SEBI fined it in 2025 for rule breaches, and its main forex product is currency futures, not CFDs.
Min Deposit
$300
Spreads From
Not applicable, Zebu charges flat order fees rather than spreads
Max Leverage
Up to 5 times margin on eligible trades
Platforms
MYNT by Zebu app, Zebu web trading platform
Pros
- Registered with SEBI as a stockbroker since February 2014
- Exchange member of the NSE, BSE, and MCX for multiple markets
- Low flat fees, about 20 rupees per order on intraday and options
- Wide product range including stocks, IPOs, bonds, and mutual funds
- Refer and earn program pays 20 percent of a friend's brokerage
Cons
- Fined by SEBI in August 2025 after a joint inspection with MCX
- Only regulated in India, with no FCA, ASIC, or CySEC oversight
- Charges a flat 450 rupee yearly fee to keep a trading account open
- Built mainly for Indian residents, not for global forex traders
Zebu was set up in 2013 by Vijayakumar Vellaiyan and now runs from Chennai under the brand Zebu and the MYNT by Zebu app. It has been registered with SEBI as a stockbroker since February 2014, and is a member of the NSE, BSE, and MCX.
Zebu is a discount broker. Account opening is free, and orders cost about 20 rupees each on intraday and options trades, or 0.1 percent on delivery. Clients can trade stocks, futures and options, commodities, currency futures, mutual funds, IPOs, and bonds, with margin up to 5 times on some trades.
Zebu only answers to Indian regulators, mainly SEBI, and holds no license from bodies like the FCA or ASIC. In August 2025, SEBI fined Zebu 5 lakh rupees after a joint inspection with MCX found several rule violations. Zebu serves Indian residents trading local markets, not international spot forex or CFD clients.
Min. Deposit
USD 300
Max Leverage
Up to 5 times margin on eligible trades
Spreads From
Not applicable, Zebu charges flat order fees rather than spreads
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
