Zerodha vs SBI Securities compares India’s leading discount broker, Zerodha, with full-service broker SBI Securities. Zerodha offers low-cost trading with advanced tech-driven platforms, while SBI Securities provides a 3-in-1 account with research support. Zerodha charges zero brokerage on equity delivery and flat Rs 20 per trade for F&O, while SBI Securities has higher brokerage fees but offers research reports and offline support. Zerodha suits active traders looking for low fees, whereas SBI Securities is ideal for those preferring full-service brokerage with banking integration.
About Zerodha
Zerodha is India’s leading discount broker, known for its flat fee structure and technology-driven trading platforms. It allows investments in Equity, Currency, Commodity, IPOs, Futures & Options, Bonds, Government Securities, and Direct Mutual Funds. Zerodha charges zero brokerage for equity delivery trades and direct mutual funds, while intraday and Futures trades are charged at a flat Rs 20 or 0.03% per executed order (whichever is lower). For Options trading, the brokerage fee is Rs 20 per executed order.
About SBI Securities
SBI Securities is a full-service stockbroker and a 100% subsidiary of SBI Capital Markets Ltd. Founded in 2006, it provides services like Institutional and Retail Equity, Derivatives, Broking, Depository Services, and Third-Party Distribution products. It offers online trading platforms and a network of branches for offline support. The primary trading platform is SBI Smart, which serves both Resident Indians and NRIs.
Zerodha Vs SBI Securities: Key Differences
| Feature | Zerodha | SBI Securities |
|---|---|---|
| Type of Broker | Discount Broker | Full-Service Broker |
| Exchange Membership | NSE, BSE, MCX, NCDEX | BSE, NSE |
| Year of Incorporation | 2010 | 2001 |
| Number of Branches | 22 | 117 |
Account Opening & AMC Charges
| Charge Type | Zerodha | SBI Securities |
|---|---|---|
| Trading Account Opening | Rs 0 | Rs 0 |
| Trading Account AMC | Rs 0 | Rs 0 |
| Demat Account Opening | Rs 0 | Rs 0 |
| Demat Account AMC | Rs 300 | Rs 0 |
Brokerage Charges Comparison
| Account Type | Zerodha (Flat Brokerage) | SBI Securities (Suvidha Plan) |
|---|---|---|
| Equity Delivery | Rs 0 (Free) | 0.50% |
| Equity Intraday | Rs 20 per order or 0.03% (whichever is lower) | Rs 20 per order |
| Equity Futures | Rs 20 per order or 0.03% (whichever is lower) | 0.05% |
| Equity Options | Rs 20 per executed order | Rs 50 per lot (buy & sell) |
| Currency Futures | Rs 20 per executed order | Rs 20 per lot |
| Currency Options | Rs 20 per executed order | Rs 20 per lot |
| Commodity Futures | Rs 20 per executed order | 0.05% |
| Commodity Options | Rs 20 per executed order | Rs 50 per lot |
Trading Margin Comparison
| Segment | Zerodha | SBI Securities |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | Up to 5x leverage | Up to 5x leverage |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin | 100% of NRML margin |
Trading Platform Comparison
| Feature | Zerodha | SBI Securities |
|---|---|---|
| 3-in-1 Account | No | Yes |
| Charting | Yes | No |
| Automated Trading | Yes | No |
| SMS Alerts | No | Yes |
| Online Portfolio | No | Yes |
| Margin Trading Funding | Yes | No |
| Trading Platform | Kite Web, Kite Mobile, Coin | SBI Smart Express, SBI Smart Web, SBI Smart Mobile |
Investment Options
| Investment Type | Zerodha | SBI Securities |
|---|---|---|
| Stocks/Equity | Yes | Yes |
| Commodity | Yes | No |
| Currency | Yes | Yes |
| IPO | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Bonds/NCDs | No | Yes |
| Debt | No | Yes |
Order Types Offered
| Order Type | Zerodha | SBI Securities |
|---|---|---|
| Bracket Order | No | No |
| Cover Order | Yes | Yes |
| Buy Today Sell Tomorrow (BTST) | No | Yes |
| Sell Today Buy Tomorrow (STBT) | No | No |
| After Market Order (AMO) | Yes | No |
| Good Till Cancelled (GTC) | Yes | No |
Research Reports Availability
| Research Service | Zerodha | SBI Securities |
|---|---|---|
| Daily Market Report | No | Yes |
| Free Tips | No | Yes |
| Quarterly Result Analysis | No | Yes |
| News Alerts | No | Yes |
Suitable Investor Types
| Investor Type | Zerodha | SBI Securities |
|---|---|---|
| Casual Investor | Yes | Yes |
| Active Investor | Yes | No |
| Trader | Yes | No |
Pros and Cons: Zerodha Vs SBI Securities
Zerodha Pros
- Free account opening for individuals under 25
- Leading broker in terms of active clients and volume
- Technology-driven platforms (Kite)
- Flat brokerage structure with free equity delivery trades
- Direct Mutual Fund investment available
- Good Till Triggered (GTT) orders available
- NRI trading account available
Zerodha Cons
- No stock tips, research, or recommendations
- Rs 50 charge for Call & Trade
- No 3-in-1 account
- No monthly unlimited trading plans
SBI Securities Pros:
- 3-in-1 account available for seamless transactions
- Wide range of investment options
- Free research reports
- Offline branch support
SBI Securities Cons:
- High brokerage fees
- No commodity trading (MCX)
- No Good Till Cancelled (GTC) orders
- Limited trading technology and tools
Final Verdict:
- Zerodha is best for traders & investors who want low brokerage and advanced platforms.
- SBI Securities is better for investors looking for full-service brokerage with banking integration.
If you’re a cost-conscious, tech-savvy trader, Zerodha wins. But if you value banking convenience and research support, SBI Securities is a solid choice.
