When it comes to choosing the right stockbroker in India, two of the most popular names that come up are Sharekhan and Zerodha. While Sharekhan is a full-service broker with a strong physical presence, Zerodha is India’s leading discount broker, known for its low-cost trading and advanced technology. In this detailed comparison, we analyze their key differences to help you make an informed decision.
Overview of Sharekhan and Zerodha
Sharekhan was established in 2000 and is one of India’s oldest and most trusted full-service brokers. It offers research reports, advisory services, and a range of investment products.
Zerodha, founded in 2010, pioneered the discount broking model in India. It focuses on low brokerage fees and offers advanced trading platforms without advisory services.
Brokerage Charges & Fees Comparison
| Particular | Sharekhan | Zerodha |
|---|---|---|
| Equity Delivery | 0.30% per trade | Free |
| Equity Intraday | 0.02% or min. 1 paisa per share | Rs 20 per executed order or 0.03% |
| Equity Futures | 0.02% per transaction value | Rs 20 per executed order or 0.03% |
| Equity Options | Rs 39 per lot | Rs 20 per executed order |
| Currency Futures | 0.02% per transaction value | Rs 20 per executed order or 0.03% |
| Commodity Futures | 0.02% | Rs 20 per executed order or 0.03% |
Verdict: If cost-saving is your priority, Zerodha is the winner with free delivery trading and flat Rs 20 charges for intraday and derivatives.
Account Opening & AMC Charges Comparison
| Charge Type | Sharekhan | Zerodha |
|---|---|---|
| Trading Account Opening | Free | Free |
| Demat Account Opening | Free | Free |
| Trading Account AMC | Free | Free |
| Demat Account AMC | Rs 400 (Free for 1st year) | Rs 300 |
Verdict: Both brokers offer free account opening, but Zerodha has a slightly lower AMC for the demat account.
Trading Platforms & Tools Comparison
| Feature | Sharekhan | Zerodha |
|---|---|---|
| Trading Platform | TradeTiger, Sharekhan Mobile | Kite Web, Kite Mobile, Coin |
| Charting & Analysis | Advanced | Advanced |
| Automated Trading | Yes | Yes |
| Mobile Trading App | Yes | Yes |
Verdict: Zerodha’s Kite platform is widely regarded as one of the best in the industry for its ease of use, speed, and reliability.
Leverage & Margin Comparison
| Segment | Sharekhan | Zerodha |
|---|---|---|
| Equity Intraday | Up to 5x | Up to 5x |
| Equity Delivery | 1x | 1x |
| Futures & Options | As per exchange margin | As per exchange margin |
Verdict: Both brokers offer similar leverage, adhering to SEBI regulations.
Research & Advisory Services
| Feature | Sharekhan | Zerodha |
|---|---|---|
| Research Reports | Yes | No |
| Investment Advisory | Yes | No |
| Fundamental & Technical Analysis | Yes | No |
Verdict: If you need expert research and stock recommendations, Sharekhan is the better choice.
Customer Support & Additional Features
| Feature | Sharekhan | Zerodha |
|---|---|---|
| Call & Trade | Rs 20 per order | Rs 50 per executed order |
| Auto Square-off Charges | Rs 50 | Rs 50 |
| Trading in SME Shares | No | Yes |
| Referral Program | No | Yes |
| Margin Trading Funding | Yes | Yes |
Verdict: Sharekhan has better customer service, while Zerodha offers unique features like SME share trading and a referral program.
Final Verdict: Which One Should You Choose?
- Choose Sharekhan if: You prefer a full-service broker with expert research, advisory services, and strong customer support.
- Choose Zerodha if: You want a low-cost trading experience with an advanced platform and are comfortable with self-directed investing.
Both brokers cater to different types of traders. If you are an active trader looking for a cost-effective solution, Zerodha is the best choice. If you need full-service support with advisory services, Sharekhan is a better fit.
Still confused? Compare other brokers and read more detailed reviews on TheShareBrokers.com.