Choosing the right stock broker is crucial for traders and investors. In this detailed comparison, we evaluate Alice Blue and Zerodha, two leading discount brokers in India, based on brokerage charges, trading platforms, features, and more.
Overview of Alice Blue Vs Zerodha:
| Feature | Alice Blue | Zerodha |
|---|---|---|
| Broker Type | Discount Broker | Discount Broker |
| Exchange Membership | BSE, NSE, MCX | NSE, BSE, MCX, NCDEX |
| Year of Incorporation | N/A | 2010 |
| Number of Branches | N/A | 22 |
Account Opening & Charges Comparison
| Account Type | Alice Blue | Zerodha |
|---|---|---|
| Trading Account Opening Charges | ₹0 | ₹0 |
| Trading Account AMC | ₹0 | ₹0 (Free) |
| Demat Account Opening Charges | ₹0 | ₹0 |
| Demat Account AMC | ₹400 | ₹300 |
Brokerage Charges Comparison
| Segment | Alice Blue | Zerodha |
|---|---|---|
| Equity Delivery | ₹20 per order or 2.5%, whichever is lower | ₹0 (Free) |
| Equity Intraday | ₹20 per order or 2.5%, whichever is lower | ₹20 per executed order or 0.03%, whichever is lower |
| Equity Futures | ₹20 per order or 2.5%, whichever is lower | ₹20 per executed order or 0.03%, whichever is lower |
| Equity Options | ₹20 per order | ₹20 per executed order |
| Currency Futures | ₹20 per order or 2.5%, whichever is lower | ₹20 per executed order or 0.03%, whichever is lower |
| Currency Options | ₹20 per order | ₹20 per executed order |
| Commodity Futures | ₹20 per order or 2.5%, whichever is lower | ₹20 per executed order or 0.03%, whichever is lower |
| Commodity Options | ₹20 per order | ₹20 per executed order |
| Minimum Brokerage | ₹20 per order | 0.03% in Intraday and F&O |
| Call & Trade Charges | ₹50 per executed order | ₹50 per executed order |
| Auto Square-off Charges | N/A | ₹50 per order |
Margin & Leverage
| Trading Segment | Alice Blue | Zerodha |
|---|---|---|
| Equity Delivery | 1x (100% of trade value) | 1x (100% of trade value) |
| Equity Intraday | Up to 5x (20% of trade value) | Up to 5x (20% of trade value) |
| F&O (Equity, Currency & Commodity) | 1x (100% of NRML margin) | 1x (100% of NRML margin) |
Trading Platforms & Features Comparison
| Feature | Alice Blue | Zerodha |
|---|---|---|
| Trading Platform | ANT (Front End), Omnesys NEST (Back End) | Kite Web, Kite Mobile (Android/iOS), Coin |
| Charting & Technical Analysis | Yes | Yes |
| Automated Trading | Yes | Yes |
| SMS Alerts | No | No |
| Online Demo | Yes | Yes |
| Online Portfolio | Yes | No |
| Margin Trading Funding (MTF) | No | Yes |
| Margin Against Shares (Equity Cash & F&O) | No | Yes |
| Intraday Square-off Time | 3:15 PM | Eq Cash: 3:15 PM, Eq F&O: 3:25 PM, Currency: 4:45 PM, Commodities: 25 min before close |
| Trading in SME Shares | No | Yes |
Investment & Trading Options Comparison
| Asset Class | Alice Blue | Zerodha |
|---|---|---|
| Stock/Equity | Yes | Yes |
| Commodity | Yes | Yes |
| Currency | Yes | Yes |
| IPO | No | Yes |
| Mutual Funds | Yes | Yes |
| Bond/NCD | Yes | No |
| Debt Instruments | Yes | No |
Order Types & Additional Features Comparison
| Feature | Alice Blue | Zerodha |
|---|---|---|
| Bracket Order (BO) | Yes | No |
| Cover Order (CO) | Yes | Yes |
| Buy Today Sell Tomorrow (BTST) | Yes | Yes |
| Sell Today Buy Tomorrow (STBT) | Yes | No |
| After Market Order (AMO) | Yes | Yes |
| Good Till Cancelled (GTC) | No | Yes |
Referral Program & Other Benefits
| Feature | Alice Blue | Zerodha |
|---|---|---|
| Referral Program | Yes | Yes |
| Other Features | N/A | Direct Mutual Funds, APIs for Algo Trading |
Alice Blue vs Zerodha – Pros and Cons
Choosing between Zerodha and Alice Blue? Here’s a detailed breakdown of their advantages and disadvantages to help you decide.
Pros & Cons Comparison
| Feature | Alice Blue | Zerodha |
|---|---|---|
| Pros | ✅ Flat ₹20 brokerage for intraday and F&O trading. ✅ Advanced online trading platform (ANT) powered by Omnesys NEST. ✅ Offers higher leverage for intraday trading. ✅ Competitive brokerage charges. ✅ Referral program available. | ✅ Free account opening for individuals under 25. ✅ India’s largest broker in terms of active clients, trading volume, and brokerage revenue. ✅ Free equity delivery – No brokerage on Cash-N-Carry orders. ✅ Simple flat ₹20 brokerages for all other segments. ✅ Excellent trading platforms (Kite Web, Kite Mobile, Coin). ✅ Direct mutual fund investments available. ✅ Good Till Triggered (GTT) orders available (similar to GTC). ✅ Safe, reliable, and technologically advanced. ✅ NRI trading account available. |
| Cons | ❌ Online mutual fund investment is not available. ❌ Call & Trade incurs an extra ₹50 per order. ❌ No Good Till Cancelled (GTC) order facility. ❌ No 3-in-1 account option. | ❌ No stock tips, research, or recommendations. ❌ Call & Trade incurs an extra ₹50 per order. ❌ Auto square-off charges ₹50 per order. ❌ No 3-in-1 account facility. ❌ No unlimited monthly trading plans. ❌ No AMC-free Demat account. ❌ Margin funding is not available. ❌ Good Till Cancelled (GTC) orders are not available. |
Final Verdict: Which Broker is Better?
Both Alice Blue and Zerodha are top discount brokers offering competitive brokerage structures and advanced trading platforms. However, your choice should depend on your trading style and investment needs:
- Choose Zerodha if you are a long-term investor who values zero brokerage on equity delivery and a feature-rich platform (Kite).
- Choose Alice Blue if you are an active trader looking for higher intraday leverage and a strong commodity trading platform.
Still confused? Compare more brokers on thesharebrokers.com and find the best one for your needs! 🚀
