When choosing a stockbroker in India, Zerodha and Monarch Networth are two strong contenders, each catering to different types of investors. Zerodha, India’s largest discount broker, offers a tech-driven, cost-effective trading experience. In contrast, Monarch Networth, a full-service broker, provides research-backed investment solutions. Let’s compare them across various parameters to help you make an informed decision.
About Zerodha
Founded in 2010, Zerodha revolutionized discount brokerage in India with its flat-fee model and powerful trading platforms. It offers:
✔ Zero brokerage for equity delivery and direct mutual funds.
✔ Flat ₹20 or 0.03% (whichever is lower) per trade for intraday and Futures.
✔ Flat ₹20 per executed order for Options trading.
✔ Advanced trading tools like Kite Web, Kite Mobile, and Coin for mutual funds.
About Monarch Networth
Established in 1993, Monarch Networth Capital Limited (MNCL) is a full-service broker offering a range of investment products, including:
✔ Equities, derivatives, commodities, mutual funds, IPOs, and NPS.
✔ Research-backed advisory services to assist investors.
✔ Registered with BSE, NSE, MCX, NCDEX, NSDL, and CDSL.
Zerodha vs Monarch Networth: A Quick Comparison
| Feature | Zerodha | Monarch Networth |
|---|---|---|
| Broker Type | Discount Broker | Full-Service Broker |
| Founded In | 2010 | 1993 |
| Exchange Memberships | NSE, BSE, MCX, NCDEX | BSE, NSE, MCX, NCDEX |
| Branches | 22 | 71 |
| Trading Platforms | Kite Web, Kite Mobile, Coin | Proprietary Software |
| Advisory Services | ❌ No | ✅ Yes |
Account Opening & AMC Charges
| Charges | Zerodha | Monarch Networth |
|---|---|---|
| Trading Account Opening | ₹0 | ₹0 (Free) |
| Trading Account AMC | ₹0 (Free) | ₹0 (Free) |
| Demat Account Opening | ₹0 | ₹0 (Free) |
| Demat Account AMC | ₹300/year | ₹350/year |
Brokerage Charges Comparison
| Segment | Zerodha | Monarch Networth |
|---|---|---|
| Equity Delivery | ₹0 (Free) | 0.15% |
| Equity Intraday | ₹20 per executed order or 0.03% (whichever is lower) | 0.01% |
| Equity Futures | ₹20 per executed order or 0.03% (whichever is lower) | 0.02% |
| Equity Options | ₹20 per executed order | ₹15 per contract |
| Currency Futures | ₹20 per executed order or 0.03% (whichever is lower) | 0.01% |
| Currency Options | ₹20 per executed order | ₹15 per contract |
| Commodity Futures | ₹20 per executed order or 0.03% (whichever is lower) | 0.01% |
| Commodity Options | ₹20 per executed order | ₹15 per contract |
✔ Zerodha offers zero brokerage for equity delivery and direct mutual funds.
✔ Monarch Networth charges a percentage-based brokerage on delivery trades.
Margin & Leverage
| Trading Segment | Zerodha | Monarch Networth |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | Up to 20% of trade value (5x) | Up to 20% of trade value (5x) |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin (1x) | 100% of NRML margin (1x) |
Both brokers offer up to 5x margin for intraday trading, making them competitive in leverage offerings.
Trading Platforms & Features
| Feature | Zerodha | Monarch Networth |
|---|---|---|
| 3-in-1 Account | ❌ No | ❌ No |
| Charting Tools | ✅ Yes | ✅ Yes |
| Automated Trading | ✅ Yes | ❌ No |
| SMS Alerts | ❌ No | ✅ Yes |
| Online Demo | ✅ Yes | ✅ Yes |
| Margin Trading | ✅ Yes | ✅ Yes |
| Referral Program | ✅ Yes | ❌ No |
Zerodha provides advanced trading tools, including API-based automated trading, while Monarch Networth offers more traditional brokerage services.
Investment Options
| Investment Type | Zerodha | Monarch Networth |
|---|---|---|
| Stocks/Equity | ✅ Yes | ✅ Yes |
| Commodities | ✅ Yes | ✅ Yes |
| Currency Trading | ✅ Yes | ✅ Yes |
| IPO Investment | ✅ Yes | ✅ Yes |
| Mutual Funds | ✅ Yes | ✅ Yes |
| Bonds/NCDs | ❌ No | ✅ Yes |
| Debt Instruments | ❌ No | ✅ Yes |
Monarch Networth offers additional investment options like bonds and debt instruments, making it a better choice for investors looking for diverse portfolios.
Who Should Choose Which Broker?
| Investor Type | Zerodha | Monarch Networth |
|---|---|---|
| Casual Investors | ✅ Yes | ❌ No |
| Active Investors | ✅ Yes | ❌ No |
| Frequent Traders | ✅ Yes | ✅ Yes |
✔ Choose Zerodha if you prefer a low-cost, technology-driven trading experience.
✔ Choose Monarch Networth if you need advisory services and a full-service brokerage model.
Final Verdict: Which Broker is Better?
Zerodha is best for traders who prefer a tech-savvy, low-cost trading experience. It offers flat-fee brokerage, advanced trading tools, and seamless mutual fund investments.
Monarch Networth is ideal for investors who require research-backed trading support. It provides personalized advisory services and a wide range of investment products.