Free Trading + Demat Account

Zerodha Open Account | Account Opening Process Review


10.37% 979,241 Clients

Zerodha is Bangalore based discount stock broker. Zerodha offers online stock and commodity trading to retail customers. Since its inception in Aug 2010, Zerodha has grown significantly. As of Jan 2019, Zerodha has over 8.47 lakh customers and over 10% of daily trading volume at BSE and NSE.

Facts about Zerodha (as of Jan 2019)

  • When was Zerodha started?15 Aug 2010
  • How many customers does Zerodha have? Over 8.47 Lakhs
  • How many employees does Zerodha have? 1000+

Commonly asked questions before opening account with Zerodha

  • Is Zerodha safe? Yes as safe as any other broker. But they do proprietary trading which makes it riskier than other discount brokers like ProStocks.
  • Does Zerodha offer commodity trading? Yes
  • How much brokerage does Zerodha charge? ₹20 per trade flat
  • Do I have to keep a minimum balance in my account? No
  • Is there a fixed monthly charge? No
  • Do I have to pay for software uses? No, all trading software and tools are free.
  • How much is the demat transaction changes? ₹13.5 per script per day on sell transaction.
  • Does Zerodha have branches? Zerodha is an online broker with very few offices.
  • How Zerodha charge so less brokerage? They use the latest technology and keeping the cost low.

Find 20 reasons why you should open an account with Zerodha.

Zerodha Account Opening

To trade (in stock, commodity or currency) or to invest (in stocks, mutual funds) with Zerodha, a customer has to open a trading account and a demat account. The demat account is not mandatory for customer planning to trade only in derivatives.

Zerodha offers 3 types of accounts:

  • Trading account for equity and currency derivatives.
  • Demat account to take delivery of stocks.
  • Commodity account to trade commodity futures on MCX.

Zerodha also offers 2-in-1 account (a combo of trading account and demat account) which offers smooth automatic transactions between these two accounts.

One customer account has access to all the segments but each segment has to enable separately at the time of account opening or at later point of time.

How to open an account with Zerodha?

To open account with Zerodha, simply leave your contact information here. Zerodha representative will contact you in the next few hours to takes you through steps to open an account.

Zerodha offers online account opening process where you can fill the information online, print it and courier it to them.

Zerodha IDFC FIRST Bank 3-in-1 Account

Zerodha has recently started offering the Zerodha IDFC FIRST Bank 3-in-1 Account wherein a trading, demat and bank account are linked to each other. This facilitates fast transactions and seamless trading experience. The 3-in-1 account is only available to new customers holding an account with IDFC FIRST Bank. To open an account, you need to open a bank account with IDFC FIRST Bank. Once your Bank account is open, you can open a 3-in-1 account with Zerodha.

Open Zerodha IDFC FIRST Bank 3-in-1 Account

The Zerodha 3-in-1 account can only be opened online. To open a 3-in-1 account, call Zerodha's customer care and they will help you with the account opening process.

Zerodha Account Opening Status

Zerodha takes 2 working days to open the account after they receive the signed account opening forms. The customer receives an email confirmation after the account is opened.

If you do not receive a welcome email after 2 days, please give a call to Zerodha support team and they can tell you the status of account opening.

Zerodha Account Opening Form PDF

Zerodha Account Opening Form PDF is available for download on its website. Here are the steps to download Zerodha Account Opening Form PDF-

  1. Visit Zerodha's website at Zerodha.com
  2. Click on 'Download & Resources' in the footer (bottom of the website)
  3. In the resources section, you have separate forms- One for trading in equity, futures and options on NSE, BSE and the other for Commodity trading. Download the specific form as per your trading preference

You could also fill the online account opening application, print it, sign it and courier to Zerodha's Bangalore office.

Zerodha Account Closure

The Zerodha Trading and Demat account get deactivated if you do not use them for 6 months. This dormant trading account can be activated by calling Zerodha.

If you are a Zerodha and not using the account anymore or moved to another broker, it is recommended to close the account to avoid paying AMC charges. It also reduces the chance of misusing the account by someone else.

Zerodha customer may close the accounts with Zerodha at any point of time. The easiest way to close the account with Zerodha is to submit an application for Account Closure. The application form can be downloaded from Zerodha's website. Customer can fill the form, sign it and courier it to the Bangalore office.

Note that after the application for account closure is received, it may take up to 2 working days to close the account. Customer receive the email notification with the status updates on account closing procedure.

Note to clear all the balances before closing the account. Also note that Zerodha do not charge anything for account closure.

Zerodha Account Opening Charges

Customer pays account opening fee for trading account opening with Zerodha. The account opening fees are as below:

  • Zerodha Account Opening Charges (Trading Acct): ₹200
  • Zerodha AMC Charges (Trading Acct): ₹0 (Free)
  • Zerodha Account Opening Charges (Demat Acct): ₹100
  • Zerodha AMC Charges (Demat Acct): ₹300

Frequently Asked Questions

  1. Is Zerodha a genuine stock broker?

    Zerodha is a stock broker registered with SEBI, BSE, NSE and MCX. It is a SEBI approved broker authorized to offer trading services in stock, currency and commodities. Like other stock brokers, Zerodha is regulated by SEBI and audited regularly by stock exchanges.

    Zerodha is as genuine as other stock brokers in India.

    Below are a few key facts about Zerodha:

    • Largest stock broker in India in terms of the number of clients. Over 10L customers.
    • In the retail brokerage business since 2008.
    • Solid local presence with over 200 branches & partner offices across India.
    • Account for over 10% of daily retail trading volumes across exchanges.
    • Among the most trusted stock broker in India with very few complaints.
    • Winner of many prestigious awards including retail brokerage of the year 2018 by NSE.
    • Founded by 1st generation entrepreneurs.
    • Run by a team of highly professional and dedicated employees.
    • Customer focused business model.
    • Massive investment in technology for the future.

    Discuss this question

  2. Is Zerodha good for Mutual Funds?

    Zerodha is indeed the best broker in India for Mutual Fund investment. Following are the reasons:

    • Coin, the Mutual Fund investment platform offers is the best app/website.
    • Zerodha offers Direct Mutual Fund which results in an extra saving of over 2% per year. In the case of Direct Mutual Funds, the Asset Management Companies (AMC) doesn't pay any commission to the broker. The benefits are passed on to the customer.
    • Mutual Fund investment with Zerodha is free . No brokerage, no upfront or trail commission from fund managers, no software uses charges and no other hidden fees.
    • Free money transfer to Zerodha using UPI.
    • Systematic Investment Plans (SIP) is available to all customers. Invest lump sum or use SIP.

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  3. Who owns Zerodha?

    Zerodha Broking Ltd (formally Zerodha LLP) was founded by Nithin Kamath and Nikhil Kamath in 2010. Zerodha is a Bangalore based company engaged in the business of stock and commodity trading.

    Zerodha was the first brokerage firm to offer online discount brokerage services. It offers trading at BSE, NSE and MCX at a flat rate of Rs 20 per trade. Zerodha offers brokerage free equity delivery and mutual fund investment.

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  4. Can I have two Zerodha Accounts with the same name?

    No. An individual can open only one trading account or demat account with a particular broker. You cannot open two trading accounts with same PAN number with Zerodha.

    Note: You could open another trading or demat account with the same name and pan number with other brokers. But this can't be done with one broker because of SEBI regulations.

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  5. Does Zerodha Provide Trading tips?

    No. Unlike full-service brokers, Zerodha doesn't provide trading tips, research, advisory or recommendations. They also do not offer services like portfolio management services (PMS), wealth management and relationship managers.

    Zerodha is a 'no-frills' 'online' 'discount' stock broker. It offers stock and commodity trading ultra-low brokerage charges. They don't have an in-house research team.

    Zerodha brokerage services are designed for people who can trade by themselves with little help from the broker. To reward these do-it-yourself traders, Zerodha charges over 60% lesser brokerage fees in comparison to full-service brokers like ICICI or Sharekhan.

    By not offering add-ons like stock research, Zerodha saves huge cost. They are technology focused broker offering the best online trading platform for a fraction of brokerage fee.

    Zerodha has an education platform called 'Varsity' to educate investors and traders in taking their own investment decision.

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  6. Is It necessary to open a demat account with Zerodha?

    No, it's not mandatory to open a demat account with Zerodha:

    • If you are planning to trade only in derivatives (Equity, Currency and Commodities)
    • Or if you have a demat account with another broker.

    But if you are investing in Equity or Mutual Funds through Zerodha trading account, it is highly recommended to have a demat account with them. This makes the online transactions between the trading and demat account very easy.

    Demat account holds the share and mutual funds in the electronic form. For equity cash trading, a demat account is mandatory in India (it could be either with Zerodha or another broker). But, when you are trading in commodity, futures and options, you are not required to have a demat account.

    If you are planning to apply in IPO you will need a demat account to get the allocated shares to deliver to you.

    If you already have a demat account with a different stockbroker, it is not compulsory to open a new account. Investors can link the existing demat account with Zerodha trading account. But every time you sell the shares, you will have to manually transfer them to Zerodha so that Zerodha can settle the transaction by delivering the shares to the buyer. This is a painful process.

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  7. Is Zerodha safe for the long term investment?

    Yes, Zerodha is as safe as any other stock broker in India.

    Zerodha is a genuine and trusted stock broker . They are among the lowest risk broker for the following reasons:

    • Zerodha is a debt free company.
    • Unlike other large brokers, they only offer broking services. They can't be impacted by loss made in other businesses.
    • Not a single major violation reposted in the last 9 years.
    • Shares and Mutual Funds are transferred in the demat account which is held by CDSL.
    • Your Demat Account safety is taken care of by CDSL.

    From the security point of view of the customer, there are 3 areas to look for:

    1. Money in Trading Account
    2. Shares and Mutual Funds in Demat Account
    3. Unauthorized transaction by the broker

    Let's get in to more detail of each of these items:

    1. There is always a small risk with the money which resides with the broker for trading in case something seriously goes wrong with the broker. But it's highly unlikely as brokers are regularly audited by SEBI and stock exchanges and any wrongdoing is penalized heavily.
    2. Regarding securities in demat account, the stockbrokers are merely agents of depositories (NSDL and CDSL). The stocks in your demat account are actually held by central depositories and not by the brokers (depository participants). This is something goes wrong with the broker like Zerodha, your demat account remain intact with CDSL.
    3. As long as your mobile number and email address are accurate in your trading and demat account, the chances of the unauthorized transaction by the broker reduces significantly. The broker, exchange and CDSL/NSDL send SMS alerts and emails for every transaction done. If you find any unusual transaction, you could report it to the broker immediately or file a complaint against the broker at the exchange.

    Is Zerodha safe for mutual funds?

    Yes. Similar to stocks, the Mutual funds are transferred to your demat account and stay there until you sell them. CDSL takes care of your Mutual Fund safety in your demat account.

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  8. How to close Zerodha Demat Account?

    The Zerodha Trading and Demat account get deactivated if you do not use them for 6 months. This dormant trading account can be activated by calling Zerodha.

    If you are a Zerodha customer and not using the account anymore or moved to another broker, it is recommended to close the account to avoid paying AMC charges. It also reduces the chance of misusing the account by someone else.

    Zerodha customer may close the accounts with Zerodha at any point of time. Below pre-check has to be done before sending the requests for Closure of demat account.

    1. It should not have Debit Balance in your account.
    2. It should not have any shares in your account.
    3. All holders are required to sign the closure request form.

    The easiest way to close the account with Zerodha is to submit an application for Account Closure. The Zerodha account closure application form can be downloaded from Zerodha's website. Customer can fill the form, sign it and courier it to the Bangalore office.

    Note that after the application for account closure is received, it may take up to 2 working days to close the account. The customer receives the email notification with the status updates on account closing procedure. Zerodha do not charge anything for account closure.

    Discuss this question

Information about Zerodha account opening, Zerodha open account, Zerodha opening charges, Zerodha account opening charges, Zerodha account opening status, Zerodha amc charges, Zerodha account charges and Zerodha account closure.

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Information on this page was last updated on Thursday, September 5, 2019


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