Comparing Zerodha and Sharekhan is like trying to compare an apple with the orange. I mean, Zerodha is a discount broker, whereas Sharekhan is a full-service broker.
Both of them offer stock trading and derivatives trading but have entirely different value-added products and services.
The difference between a full-service broker and discount broker is that full-service broker provides hand-holding (stock buy/sell tips, stock analysis, education classes and reports) and support (over the telephone, allocation of Relationship Manager), that’s why they charge more on the brokerage.
I do my own market research and therefore I do not need any advisory services. If you also carry on your own research then having an account with top discount brokers like Zerodha is a better choice.
Even discount brokers are good for traders as Zerodha charge fix brokerage of Rs 20 per trade irrespective of trade volume and provide advance trading platforms.
Below is the comparison table of Zerodha and Sharekhan.
Zerodha vs Sharekhan Comparison
| Particulars | Zerodha | Sharekhan |
| Can trade-in | Stocks, Equity F&O, Currency F&O and Commodity F&O Bonds and Govt-Securities | Stocks, Equity F&O, Currency F&O and Commodity F&O |
| Brokerage Charges | Details for Zerodha Plan | Sharekhan |
| Equity delivery | Rs. 0 | 0.50% (minimum 10 paise per share) |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.03% | 0.10% (minimum 5 paise per share) |
| Futures (Equity, Currency, Commodity) | Lower of Rs. 20 per executed order or 0.03% | 0.10% |
| Equity Options | Rs. 20 per executed order | Rs. 100 per lot (2.5% on premium) |
| Options (Currency, Commodity) | Lower of Rs. 20 per executed order or 0.03% | 2.5% or a minimum of Rs. 30 per lot |
| Margin for Intraday | Up to 12.5X | Up to 50X |
| Account Opening Charges | Zerodha | Sharekhan |
| Demat & Trading Account | Charges for Demat & Trading account is clubbed – Rs.200 | Rs. 0 |
| Demat AMC Fees | Rs. 300 | Up to Rs. 1000 (Free for 1st year) for the highest scheme. |
| Commodity Account | Rs. 100 | Rs. 0 |
| Account Open | Open Zerodha Account | Open Sharekhan Account |
If you still want to know more, then the article will help you dig deeper and understand Zerodha and Sharekhan Broking in detail.
Zerodha Demat and Trading Account Review
Zerodha is a discount broker (check my review) founded in 2010. More than 2 million clients trade with Zerodha.
Zerodha helps you to trade and invest in stocks, F&O (equity, commodity and currency), IPO, direct mutual funds and NCDs.
Zerodha works on a discount trading model by charging flat Rs. 20 per trade, while Sharekhan would charge 0.50% on the trade amount.
For example, Zerodha would charge Rs. 20 on a single trade of 1 Lakh Rupees and brokerage would remain the same even if the next trade size is 5 Lakh Rupees. Zerodha does not account for trade volume (price x number of shares) to charge brokerage.
Zerodha Demat Account Brokerage Charges
Irrespective of the trading volume Zerodha charges you a maximum of Rs. 20 per executed order.
| Trading Type | Brokerage Charges |
| Equity Delivery | Rs. 0 |
| Equity Intraday, Futures | Lower of Rs. 20 per executed order or 0.03% |
| Equity Options | Rs. 20 per executed order |
| Currency Futures and Options | Lower of Rs. 20 per executed order or 0.03% |
| Commodity F&O | Lower of Rs. 20 per executed order or 0.03% |
The low brokerage fee is best for cost-conscious volume traders who want to optimize their trading costs.
Zerodha has paid services like Screeners, Stock Reports and Smallcase to handhold new investors.
Zerodha Margin
You can trade on Intraday MIS (Margin Intraday Square off), Cover orders (CO) and Bracket Orders (BO) products using margins.
MIS orders are day orders, i.e you need to square off before closure of trading hours. Whereas in CO and BO a stop-loss order is placed simultaneously with the order. You can check the basics of intraday stock trading in India.
For example, suppose a stock is trading at Rs. 300 and you want to sell intraday with CO. Then the system will enter two orders simultaneously:
- A sell order at Rs. 300
- A Stop-loss order at Rs. 303
Below are the margin details offered by Zerodha trading account;
The Margin for Intraday (MIS) is as under;
| Segment | Margin |
| Equity Delivery | No Margin |
| Intraday Equity | 3 to 12.5 times depending on the scrip |
| Index Futures | Margin required is 35% of the normal margin (NRML) |
| Equity Futures | Margin required is 45% of the normal margin (NRML) |
| Index Option Writing | Margin required is 35% of the normal margin (NRML) |
| Stock Option Writing | Margin required is 45% of the normal margin (NRML) |
| Currency Futures & Option Writing | 50% of the normal margin (NRML) |
| Commodity Futures & Option Writing | 50% of the normal margin (NRML) |
Account Opening Charges for Zerodha Demat and Trading Account
Charges for opening an account online with Zerodha is as under;
| Particulars | Charges |
| Trading and Demat account opening charges | Rs. 200 |
| Commodity Account | Rs. 100 |
| Trading account annual maintenance charges | Rs. 0 |
| Demat account annual maintenance charges | Rs. 300 |
There is an additional Rs. 300 charge for opening an account offline.
But I suggest you go for online account opening because the process is quick, hassle-free and save you Rs. 100.
Best For
Zerodha is best for regular traders who don’t want to pay high brokerage and are happy to trade in low margins.
Pros
- Zero charges for delivery trades
- No minimum balance required to open and maintain the account.
- Brokerages are irrespective of trade volume
Cons
- The margin provided is low as compared to other discount brokers
- Frequent delays and service down during trading hours
- Does not upfront discloses margin for CO & BO trades
Sharekhan Demat & Trading Account Review
Sharekhan also offers stock investment and trading, but its value-added products and services like research advisory and PMS differentiate it from Zerodha.
Sharekhan’s full-service offerings include;
- Stock investment and trading
- Research and advisory
- Mutual Fund investment
- Portfolio management services
- Investor education
Sharekhan is an old and trusted full-service broker with 20+ years of industry presence. The brokerage house manages Rs. 46,600 Crore of customer assets.
Sharekhan is a better option if you require advisory and other services and do not mind paying more brokerage charges.
Sharekhan provides you customized advisory services and products based on your risk profile. This will vary from person to person.
The drawback is that if you are looking for details on margins and brokerages for comparison purposes on the website then probably you will not find it.
Full-service brokers offer a customized product rather than a standard product like discount brokers. For which the brokerages and fees are negotiable at the time of account opening.
Sharekhan Brokerage Charges
| Trading Type | Brokerage Charges |
| Equity Delivery | 0.50% (minimum 10 paise per share) |
| Equity Intraday | 0.10% (minimum 5 paise per share) |
| Equity Futures | 0.10% |
| Equity Options | Rs. 100 per lot (2.5% on premium) |
| Currency Futures | 0.10% |
| Currency Options | 2.5% or a minimum of Rs. 30 per lot |
| Commodity Futures | 0.10% |
| Commodity Options | 2.5% or a minimum of Rs. 30 per lot, maximum brokerage – Rs. 250 per lot |
Sharekhan Margin Provided
The margin information is based on the call with the Sharekhan representative.
| Segment | Margin |
| Equity Delivery | Up to 4X depending on the group |
| Intraday Equity | Up to 50X depending on the stock to stock |
| Equity F&O | 1X |
However, Sharekhan checks your trading experience and income levels to assess your risk profile before they allow a particular margin level. You can bargain for better margins while trading account opening.
Additional margins can also be requested if you have existing shares that can be placed as collaterals.
Account Opening Charges for Sharekhan Demat Account
| Particulars | Charges |
| Trading & Demat account opening charges | Rs. 0 |
| Trading account annual maintenance charges | Rs. 0 |
| Demat account annual maintenance charges | Up to Rs. 1000 (Free for 1st year)The AMC depends on the number of transactions. |
Sharekhan Trading Platforms Review
#1. Sharekhan Website Review
Sharekhan website is a URL based web trading platform.
The platform has supportive features such as dashboard, smart search, portfolio tracker and charts, for trading, tracking and investing.
You have access to advanced charts and alert services to support trade and investment.
#2. Sharekhan Trade Tiger Review
Trade Tiger is a web-based, desktop trading platform that provides features of a broker’s terminal. You can trade in all segments from a single screen.
Trade Tiger gives you advanced charts, filtering options, live streaming of quotes and analysis options to make easy decisions on stock on a real-time basis.
There are two versions of Trade Tiger trading platform;
| Particulars | Trade Tiger Basic | Trade Tiger Advanced |
| For | Individuals | Professional Traders |
| PC | Works on Pentium 4 Processor or lower | Works on Pentium Dual Core Processor or higher |
| Operating system | Win 7, Win 8 | Win 7 & above |
| Processor | Intel Dual Core | Intel Dual Core |
| RAM | 1GB | 2GB |
| Disk Space | 40 MB | 1GB |
#3. Sharekhan Mini
Sharekhan Mini is a miniature lite version of the Sharekhan website. The version is best when you have low internet access bandwidth.
Sharekhan Mini does not require app installation and is accessible on PC, laptops and mobiles compatible with Android, iOS, and Windows.
#4. Sharekhan Mobile App
Sharekhan App facilitates trading and mutual fund investments on the go. Sharekhan App is available for both Android and iOS devices.
You can trade on the app with the assistance of charts, technical indicators and flexible search features.
Best For
New traders and individuals who need advisory services and do not mind paying a higher brokerage.
Pros
- Wide range of investment services
- Pan India network of 3200 outlet
- Insta MF, Investment Cart and NEO products
Cons
- High Brokerages
- Too many trade calls and research advisory
Let’s compare every single feature of Sharekhan vs Zerodha side by side
Zerodha vs Sharekhan (Comparison Table)
| Particulars | Zerodha | Sharekhan |
| Type | Discount Broker | Full-service broker |
| Helps trade-in | Stocks, Equity F&O, Currency F&O and Commodity F&O Bonds and Govt-Securities | Stocks, Equity F&O, Currency F&O and Commodity F&O |
| Help invest in | Mutual FundsIPO – through Bhim UPI | Mutual FundsIPOs |
| Other value-added services | None | Research AdvisoryPortfolio Management Services |
| Based out of | Bengaluru | Mumbai |
| Branches | 120 and partner offices | 3200 outlets |
| Customer Support | Through calls, e-mails and tickets | Through calls, e-mails and chat |
| Forum | Trading QnA Forum | None |
| Learning Resources | Zerodha Varsity | Online Trading Academy |
| Brokerage Charges | Details for Zerodha Plan | Sharekhan |
| Equity delivery | Rs. 0 | 0.50% (minimum 10 paise per share) |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.03% | 0.10% (minimum 5 paise per share) |
| Equity Futures | Lower of Rs. 20 per executed order or 0.03% | 0.10% |
| Currency Futures | Lower of Rs. 20 per executed order or 0.03% | 0.10% |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.03% | 0.10% |
| Equity Options | Rs. 20 per executed order | Rs. 100 per lot (2.5% on premium) |
| Currency Options | Lower of Rs. 20 per executed order or 0.03% | 2.5% or a minimum of Rs. 30 per lot |
| Commodity Options | Lower of Rs. 20 per executed order or 0.03% | 2.5% or a minimum of Rs. 30 per lot, maximum brokerage – Rs. 250 per lot |
| Call and Trade Facility | Yes | Yes |
| Charges for Call and Trade | Rs. 50 per executed order | Free |
| Margin for Intraday | Details for Zerodha Plan | Sharekhan |
| Equity delivery | 0 | Up to 4X depending on the group |
| NSE/ BSE Cash | 3 to 12.5 times depending on the scrip | Up to 50X depending on the stock to stock |
| Index Futures | Margin required is 35% of the normal margin. i.e. 2.857X | — |
| Stock Futures | Margin required is 45% of the normal margin i.e. 2.222X | — |
| Index Option Sell | Margin required is 35% of the normal margin. i.e. 2.857X | — |
| Stock Option Sell | Margin required is 45% of the normal margin i.e. 2.222X | 1X |
| NSE Currency | 50% of the normal margin i.e. 2X | — |
| MCX Futures | 50% of the normal margin i.e. 2X | — |
| Margin for OC/ OCO | Details for Zerodha Plan | Sharekhan |
| NSE/ BSE Cash | Does not disclose upfront. You need to use BO&CO margin calculator | No information on website |
| Account opening | Both online and offline | Both online and offline |
| Account Opening Charges | Zerodha | Sharekhan |
| Demat Account | Charges for Demat & Trading account is clubbed – Rs.200 | Rs. 0 |
| Trading Account | Charges for Demat & Trading account is clubbed – Rs.200 | Rs. 0 |
| Demat AMC Fees | Rs. 300 | Up to Rs. 1000 (Free for 1st year) for the highest scheme. The AMC depends on the number of transactions |
| Commodity Account | Rs. 100 | Rs. 0 |
| Trading Platforms | Zerodha Kite 3.0Zerodha PI | Sharekhan WebsiteTrade TigerSharekhan Mini |
| Cloud Alert Tool | Sentinel | None |
| APIs | Kite Connect API supports Python, Java, PHP, NodeJS, C#, and .Net. | None |
| Trading App | Kite Mobile App | Sharekhan App |
| Account Open | Open Zerodha Account | Open Sharekhan Account |
FAQs
Q: What is BSDA?
A: BSDA (Basic service demat account) is a special category of demat accounts for individual investors. The value of securities held in BSDA should not exceed Rupees Two Lakhs at any point in time.
Q: When Can I get the credit for shares sold?
A: The sale proceeds will be credited to your trading account on T+2 days. Wherein T stands for trade day.
Q: What is a Put Option?
A: Put is the right (but not the obligation) to sell the underlying asset like shares, at the specified strike price by paying a premium.
Q: What is a Call Option?
A: Call Option gives the right (but not the obligation) to buy a given quantity of the underlying asset like shares, at a given price on or before a given future date.
Q: What is a premium?
A: Premium is the downpayment the buyer of Call or Put is required to make for buying the options.
Why You Might Prefer a Zerodha Demat Account
New generation, cost-conscious, online traders love Zerodha trading platform.
Zerodha has a 2 million client base because they offer Zero brokerage for stock delivery and flat Rs. 20 fees for trading segments. The brokerage charges are the same irrespective of trade volume.
You will save a lot of money on brokerage when you buy shares trading at a low price range.
If you are a new trader looking to build a small portfolio (up to Rs. 2 Lakhs) then you benefit from Zerodha brokerages, Kite 3.0 trading platform, Kite mobile app and Sentinel (cloud alert tool).
Why You Might Prefer a Sharekhan Demat Account
Sharekhan demat account is best for people who need offline support and on-call trading facilities.
Sharekhan brings its value proposition by offering traders research advisory and portfolio management services, but at a cost that is factored in higher brokerage charges.
New traders who are looking to build long term wealth and do not have time for research but have money to pay higher brokerages can also pick Sharekhan.
Unlike Zerodha, you can reach Sharekhan via 3200 branches. Sharekhan offers a wide range of investment services like Insta MF, Investment Cart and NEO products.
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