This detailed comparison between Zerodha and Paytm Money helps investors and traders choose the best stockbroker based on brokerage charges, account fees, trading platforms, margin offerings, and other features. Zerodha, India’s largest discount broker, provides zero brokerage on equity delivery and direct mutual funds, while Paytm Money is a beginner-friendly platform offering zero AMC charges and multiple investment options like NPS and digital gold. Find out which broker suits your trading style and investment needs.
About Zerodha
Zerodha is India’s leading stockbroker and one of the most reputed online discount brokers. It offers a range of investment options, including Equity, Currency, Commodity, IPO, Futures & Options, Bonds, Government Securities, and Direct Mutual Funds. Zerodha charges Rs 0 brokerage for equity delivery trades and direct mutual funds, while intraday and Futures trades incur a flat Rs 20 or 0.03% per trade (whichever is lower). Options trades are charged at Rs 20 per executed order.
About Paytm Money
Paytm Money Limited, incorporated in 2017, is a Bengaluru-based discount brokering firm and a wholly-owned subsidiary of One97 Communications Ltd, which also owns the Paytm brand. Paytm Money is a SEBI-registered stockbroker and investment advisor. It offers trading on NSE and BSE and provides services like equity, derivatives, direct mutual funds, digital gold, NPS retirement funds, and IPO investments.
Zerodha vs Paytm Money: Key Differences
| Feature | Zerodha | Paytm Money |
|---|---|---|
| Broker Type | Discount Broker | Discount Broker |
| Exchange Membership | NSE, BSE, MCX, NCDEX | NSE, BSE |
| Year of Incorporation | 2010 | 2017 |
| Number of Branches | 22 | 1 |
Account Opening & AMC Charges Comparison
| Charges | Zerodha | Paytm Money |
|---|---|---|
| Trading Account Opening | Rs 0 | Rs 200 |
| Trading Account AMC | Rs 0 | Rs 300 (Annual Platform Fees) |
| Demat Account Opening | Rs 0 | Rs 0 (Free) |
| Demat Account AMC | Rs 300 | Rs 0 (Free) |
Brokerage Charges Comparison
| Segment | Zerodha | Paytm Money |
|---|---|---|
| Equity Delivery | ₹0 (Free) | ₹20 per executed order or 2.5% (whichever is lower) |
| Equity Intraday | ₹20 per executed order or 0.03% (whichever is lower) | ₹20 per executed order or 0.05% (whichever is lower) |
| Equity Futures | ₹20 per executed order or 0.03% (whichever is lower) | ₹20 per executed order or 0.01% (whichever is lower) |
| Equity Options | ₹20 per executed order | ₹20 per executed order |
| Currency Futures | ₹20 per executed order or 0.03% (whichever is lower) | Not Available |
| Currency Options | ₹20 per executed order | Not Available |
| Commodity Futures | ₹20 per executed order or 0.03% (whichever is lower) | Not Available |
| Commodity Options | ₹20 per executed order | Not Available |
| Minimum Brokerage | 0.03% in Intraday and F&O | None |
| Call & Trade Charges | ₹50 per executed order | ₹100 per executed order |
| Auto Square-off Charges | ₹50 | – |
Margin & Leverage: Zerodha vs Paytm Money
| Segment | Zerodha | Paytm Money |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | Up to 5x leverage | Up to 5x leverage |
| Futures & Options | 100% of NRML margin | 100% of NRML margin |
Trading Features: Zerodha vs Paytm Money
| Feature | Zerodha | Paytm Money |
|---|---|---|
| 3-in-1 Account | No | No |
| Charting | Yes | Yes |
| Automated Trading | Yes | No |
| SMS Alerts | No | No |
| Online Demo | Yes | Yes |
| Online Portfolio | No | Yes |
| Margin Trading Funding | Yes | No |
| Margin Against Shares (Equity Cash) | Yes | No |
| Margin Against Shares (Equity F&O) | Yes | No |
| Trading Platforms | Kite Web, Kite Mobile (Android/iOS), Coin | Paytm Money Mobile App, Paytm Money Web |
| Intraday Square-off Time | Equity Cash: 3:15 PM Equity F&O: 3:25 PM Currency: 4:45 PM Commodities: 25 min before close | 3:15 PM |
| Trading in SME Shares Allowed? | Yes | No |
| Referral Program | Yes | No |
| Other Features | Direct Mutual Funds, APIs for Algo Trading | None |
Pros and Cons: Zerodha vs Paytm Money
Zerodha
Pros:
- Free account opening for individuals under 25.
- Zero brokerage for equity delivery & direct mutual funds.
- Flat Rs 20 brokerage for intraday and F&O.
- Advanced trading platform (Kite) with charting tools.
- GTT (Good Till Triggered) orders are available.
- APIs for algorithmic trading.
Cons:
- No stock recommendations or research.
- Call & Trade incurs an extra Rs 50 per order.
- No 3-in-1 account facility.
- No unlimited monthly trading plans.
Paytm Money
Pros:
- Zero AMC charges for the Demat account.
- Flat Rs 20 brokerage for all segments.
- Direct mutual fund investment with extra returns.
- Instant digital account opening.
- Offers NPS & digital gold investment.
Cons:
- No commodity & currency trading.
- No margin trading facility.
- Monthly platform usage fee of Rs 30.
- No GTC (Good Till Canceled) orders.
- Limited trading features compared to Zerodha.
Final Verdict: Paytm Money vs Zerodha – Which One to Choose?
- Choose Zerodha if:
- You want zero brokerage on delivery trades.
- You need advanced trading tools like Kite and Coin.
- You trade commodities, currencies, and derivatives.
- You want margin trading and automated trading options.
- Choose Paytm Money if:
- You are a beginner looking for a simple platform.
- You want zero AMC charges on your demat account.
- You prefer investing in direct mutual funds, NPS, and digital gold.
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