Zerodha is one of the largest and most popular discount brokerage firms in India. The company offers brokerage services for a variety of financial instruments such as stocks, commodities, currency, and derivatives.
According to its official website, “The brokerage firm started its operations on 15 August 2010 with the goal of breaking all barriers that traders and investors face in India in terms of cost, support, and technology.“
We are going to explore the facts that why is Zerodha dominating stockbrokers in India. Why is it so popular and what’s so special about it which makes it different from others?
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Zerodha – The Brand Name
The brand name is a combination of two words, “Zero” and “Rodha”. Rodha is a Sanskrit word that means barrier. The company’s motive was to break the barriers between common people (retail investors and traders) and the stock market.
I believe the brand name and its logo attract more people. And Zerodha fulfills both check marks. It has a nice brand name and a very identical logo design.
A brand name is an important part of a company’s identity and can have a significant impact on consumer perception and purchasing decisions. A strong brand name can differentiate a company’s products or services from those of its competitors and can help to establish trust and credibility with customers.
It can also help to create a sense of loyalty among customers and can play a role in the overall success of the company.
Several factors can contribute to the importance of a brand name. These can include the quality and reputation of the company’s products or services, the level of customer service provided, the company’s marketing efforts, and the overall image and values that the company projects.
Reasonable Pricing
Ever since the company has come to India, it has disrupted the whole brokerage market with its pricing.
The brokerage firm doesn’t charge anything for equity delivery and the intraday brokerage charge is flat rupees 20 or 0.03% (whichever is lower) of the total transaction which is lower compared to full-service brokers.
Check out the full breakdown of the brokerage by going to the brokerage calculator.
Apart from brokerages, the annual maintenance charge (AMC) for individuals, HUFs, and partnership firms is INR 300 + 18% GST per annum.
Here is a complete list of annual maintenance charges you can check.
Although, this is not the only discount broker whose charges are lower than full-service brokers. There are many competitors in the market such as Paytm Money, ProStocks, and Finvasia whose charges are even lower than Zerodha.
So, let’s try to understand why people prefer Zerodha even when there are better options available in the market in terms of brokerage and other charges.
Superior Platforms
Zerodha offers a very polished and superior platform for trading and investing for both mobile and web.
Kite is a mobile app offered by Zerodha firm for retail investors and traders. Kite is the finest mobile application available in the Indian market.
It’s fast, simple, and very easy to use. Kudos to the developers of the app.
Kite web is the web version of the platform. It connects with the mobile app and sync settings, watchlists, orders, and all that flawlessly.
The simplicity of the platform does not let its users go anywhere else.
Modern Technology
The company understands the importance of technology. That’s why Kite has built-in tools for fundamental and technical analysis.
- Tickertape: Tickertape is a content and information platform for stocks, mutual funds, and other investment instruments.
- Streak: Streak is a powerful tool for trading in the stock market. By using Streak you can make strategies, scan stocks, and can make unbiased trading decisions.
- Sensibull: Sensibull is one of the largest options trading platforms and it’s backed by Zerodha. Kite is integrated with Sensibull so that traders can take full advantage of Sensibull within the Kite app.
Apps by Zerodha
Apart from Kite, the brokerage firm offers three more apps to explore the stock market.
- Coin: Coin is a commission-free app that lets you invest in thousands of Mutual Funds in India.
- Varsity: Varsity offers stock market lessons with in-depth coverage and illustrations. The app can help you learn the stock market on the go.
- Pulse: Pulse brings all financial and market-related news and information in one place. It helps keep track of the market.
CHECK OUT MUTUAL FUNDS TO INVEST IN 2023
Zerodha Cares
Recently, a disclosure of customer ratings was published on Zerodha’s official website says that the average rating of calls is 4.63/5 and the average rating of tickets is 3.79/5 which is not that bad.
The ratings suggest that the overall customers are satisfied with the support provided by the company.
Apart from customer service and support, Zerodha is involved in social work too. The company and the team are working in the field of education, healthcare, environment, and sanitation. The brokerage firm is winning the heart of thousands.
Conclusion
It’s not like Zerodha is a perfect choice for everyone. No! It’s not. But the company has a superior trading platform and good support that other stockbrokers in India fail to provide.
People who are looking for simplicity, ease of use, and a reliable trading platform, can go with it for sure.
But if you are one of those whose priority is saving some money on the brokerages and other charges and you do not care about the user interface; you can go with others.
There are many options in the market, you can choose the right brokerage firm according to your need. But for now, Zerodha is the no. 1 broker in India.
I love the super clean interface of zerodha. but their pricing is high.