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Not as good as what I heared about zerodha in all newpapers and media. Have recently opened an account at Zerodha and sharing my experience.

Cons:
1. Doesnot provide margin facility even on DP holdings
2. When u transfer the funds thru their portal, the balance doesnot reflected. Everytime you have to make a call to Customer care and they do it mannually. Really time consuming and till that time, u can never put your orders (as no margin facility) and the prices also tends to change meanwhile.
3. At times their call center are too busy and when u have dependency on them only like the situation mentioned above, u are left with nothing.
(I myself have tried to reach one of the representative for the funds related issue and she reverted back after 2 hours).
(personally expreienced 2 out of 3 times the same problem)

Advantage:
Only low brokerage and nothing much.