Choosing the right stockbroker is crucial for traders and investors looking to optimize their experience in the stock market. Two of the most well-known discount brokers in India, Bajaj Financial Securities Limited (BFSL) and Zerodha, offer competitive services. But which one is better suited for your needs? This detailed comparison of Bajaj Financial vs Zerodha will help you decide.
About Bajaj Financial
Bajaj Financial Securities Limited (BFSL) is a subsidiary of Bajaj Finance Limited, one of India’s largest NBFCs. BFSL is a SEBI-registered broker and a member of BSE and NSE. The company offers stockbroking services with a strong focus on discount brokerage in Equity and Derivatives Trading, Mutual Funds, IPOs, Margin Trading, and more.
Key Features:
- Trading platforms: BFSLTrade App (Mobile) & Bajajfinservsecurities.in (Web)
- Memberships: BSE, NSE
- Offers: Margin Trading, IPO Financing, Loan Against Securities
- Brokerage Charges: Rs 5 to Rs 20 per order (varies by plan)
- Demat AMC: Free for the first year, then Rs 199 annually
Know more about Bajaj Financial
About Zerodha
Zerodha is India’s largest discount broker, known for its low-cost brokerage model and advanced trading platforms. It allows investments in Equity, Currency, Commodity, IPOs, F&O, Bonds, and Direct Mutual Funds. Zerodha has revolutionized stockbroking by offering zero brokerage on equity delivery trades and a flat Rs 20 per trade for intraday and F&O.
Key Features:
- Trading platforms: Kite Web, Kite Mobile (Android/iOS), and Coin (Mutual Funds)
- Memberships: NSE, BSE, MCX, NCDEX
- Offers: Direct Mutual Fund Investments, Algo Trading APIs
- Brokerage Charges: Rs 0 for delivery, Rs 20 per executed order for intraday & F&O
- Demat AMC: Rs 300 annually
Bajaj Financial Vs Zerodha: Detailed Comparison
Brokerage & Charges
| Feature | Bajaj Financial | Zerodha |
|---|---|---|
| Account Opening Charges | Rs 0 | Rs 0 |
| Trading AMC | Rs 899 per year | Rs 0 |
| Demat AMC | Rs 199 (Free for 1st year) | Rs 300 |
| Equity Delivery | Rs 5 – Rs 20 per order (based on plan) | Rs 0 |
| Equity Intraday | Rs 5 – Rs 20 per order | Rs 20 per executed order or 0.03% (whichever is lower) |
| F&O (Equity, Currency, Commodity) | Rs 5 – Rs 20 per order | Rs 20 per executed order |
| Call & Trade Charges | Rs 20 per trade | Rs 50 per order |
Trading Platforms & Features
| Feature | Bajaj Financial | Zerodha |
|---|---|---|
| Trading Platforms | BFSLTRADE (Mobile), Bajajfinservsecurities.in (Web) | Kite Web, Kite Mobile, Coin |
| Automated Trading | No | Yes |
| 3-in-1 Account | No | No |
| Charting Tools | Yes | Yes |
| Direct Mutual Funds | No | Yes |
| Referral Program | No | Yes |
Margin & Leverage
Both brokers provide similar leverage for intraday trading:
- Equity Delivery: 1x (100% of trade value)
- Equity Intraday: Up to 5x (20% of trade value)
- F&O Margin: 100% of NRML margin
Pros & Cons
Bajaj Financial
✅ Free account opening for users under 25 years old
✅ Multiple trading plans for different investor types
✅ Offers margin trading funding
❌ No 3-in-1 account
❌ No stock research or recommendations
❌ Auto-square-off charges Rs 50 per order
Zerodha
✅ India’s largest broker with the highest active clients
✅ Free equity delivery trades
✅ Advanced trading platforms with APIs for Algo Trading
✅ Direct Mutual Fund investment with no commission
❌ No call & trade discounts (Rs 50 per order)
❌ No 3-in-1 account option
Which Broker Should You Choose?
- Choose Bajaj Financial if you want multiple brokerage plans and margin funding options.
- Choose Zerodha if you prefer free equity delivery trading, powerful trading platforms, and low brokerage for intraday & F&O trades.
Conclusion
Both Bajaj Financial and Zerodha are excellent choices for traders, but they cater to different needs. If you prioritize flexible plans and margin trading, Bajaj Financial is a good pick. If you want zero brokerage on delivery trades and a seamless trading experience, Zerodha is the better option.
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