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Zerodha Review
Zerodha is India's largest discount broker, regulated by SEBI. It can only offer INR based currency derivatives, not international leveraged forex.
Min Deposit
N/A
Spreads From
Not spread based, a flat 20 rupees or 0.03 percent per order instead
Max Leverage
Limited to SEBI rules for INR currency derivatives, no international forex
Platforms
Kite web and mobile, Zerodha Console
Pros
- Zero brokerage on equity delivery trades, a flat fee elsewhere
- Registered with SEBI under a real, checkable registration number
- India's largest broker by client count, with a long track record
- No account opening fee on a standard trading and demat account
Cons
- Cannot offer international leveraged forex, only INR currency derivatives
- Hit by roughly 15 technical outages between 2021 and 2023 alone
- More outages followed in 2024 and 2025, some blocking live trades
- BSE ordered Zerodha to compensate a client hurt by one such outage
Nithin Kamath and Nikhil Kamath started Zerodha in 2010 in Bangalore. It grew into India's biggest stock broker by client count, built around a flat fee model instead of a percentage of every trade. The trading entity today is Zerodha Broking Limited, registered with SEBI.
Equity delivery trades cost nothing in brokerage, other segments cost a flat 20 rupees or 0.03 percent, whichever is lower. Because of Indian rules, retail clients cannot open leveraged international forex positions here. Trading is limited to INR currency futures and options on Indian exchanges, and the RBI tightened related derivative rules again in April 2026.
Zerodha has been hit by repeated technical outages, with about 15 glitches between 2021 and 2023 and several more in 2024 and 2025, some blocking clients from placing or exiting trades. In one case, the BSE Grievance Redressal Committee ordered Zerodha to compensate a trader for losses tied to an outage.
Max Leverage
Limited to SEBI rules for INR currency derivatives, no international forex
Spreads From
Not spread based, a flat 20 rupees or 0.03 percent per order instead
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
