Zerodha is India’s largest stockbroker, registered with the Securities and Exchange Board of India (SEBI) and the country’s major stock exchanges. It is one of the best platforms for investing in the share market that you can trust for your online trading journey. In this review, we shall explore how to open Zerodha Commodity, Trading and Demat accounts and what is needed for their closure.
Sign up and create an account
The registration process will take less than 30 minutes. Let us see the steps on how to open a Demat and trading account in Zerodha:
- Visit the website https://www.zerodha.com and click the Signup button.
- Provide your phone number, then press “Continue”.
- Kindly enter the OTP that comes to your mobile.
- Fill in your name and email address.
- Provide your PAN no. followed by your date of birth (DOB).
- Since opening an account is not free, the next step is to pay the fee. For Zerodha Demat and trading account, it is ₹200. If you open a commodity account plus the two above, it is ₹300. You can complete the payment using UPI or Net banking.
- Connect your Aadhar details with Zerodha by clicking on “Connect to Digilocker”. You will then receive an OTP on your number linked to Aadhar. Kindly enter it, then click “Continue”, followed by “Allow to share your Aadhar with your broker”.
- Fill in your background details such as parents’ names, marital status, trade experience, occupation, etc.
- Link your bank account by entering the account number and other details. Note that you can add another bank account and use it to transfer funds to your trading account.
- An OTP will be displayed on your screen, kindly copy it on paper, hold it facing your device’s camera, and press the capture button to complete online IPV- in-person verification.
- Upload all the required documents listed below.
- Do the e-sign for your equity. After verifying that the document is filled out correctly, click the “Sign Now” button and confirm it with an OTP sent to your mobile.
Now you just have to wait for the documents to be checked (usually within 2-4 working hours), after which an email will be sent to the address you specified during registration. Click the link inside it to set up your password. Also, as part of 2fa authentication, you must set a 6-digit PIN. Note that each login will require a password and PIN.
You will need these documents to complete the process of online opening a new Demat and trading account in Zerodha:
- PAN сard with your signature.
- Aadhaar card.
- Bank statement or a canceled cheque.
- A scanned copy of your signature in ballpoint or ink pen.
- Income proof if you will be trading in futures and options.
It can be any of the following documents:
- Form 16 with gross annual income over ₹1,200,000.
- A six-month bank statement with an average balance of more than ₹10,000.
- Statement of Demat holdings with a value exceeding ₹10,000.
- Latest salary slip with gross monthly income over ₹15,000.
- Income Tax Return (ITR) acknowledgment with gross annual income exceeding ₹1,20,000.
Can I open a Demat and trading account offline?
Apart from opening a Zerodha account online, you can also create one offline. However, you will pay a little more for paper registration; to open a Demat and trading account, the fee is ₹400, and for trading and Demat + commodity account, the fee is ₹600.
You will need to download the Account Opening Form, print and fill it out, and then courier it to Zerodha’s main office. You also need to fill out and attach the documents mentioned above. If all paperwork is in order, your account will be opened within 48 working hours when the broker receives the Account Opening Form. In some cases, the process can take up to 4 days.
Note! If you need help downloading and completing the form, you can contact the company by numbers 080 47192020 or 080 71175337. The account opening lines are open from 9:00 AM to 7:00 PM.
After receiving your login details, you can sign in but not trade instantly; trading on the platform is available from the next working day. There are two platforms through which you can trade on Zerodha using your login ID and password. Let’s look at them in more detail below.
Login to Zerodha account with Kite
Kite is Zerodha’s flagship trading platform. You can make an account opening and log in to it via a desktop computer or mobile device as it is available as a web version and the iOS/Android app.
Kite is one of the best platforms for online share trading in India. It is convenient for trading commodities, currencies, futures, and options; it is suitable for both intraday traders and those unable to track the market during active trading hours. For investors of the second type, Kite offers AMO, a feature that allows placing orders for the next trading day.
Login to Zerodha Coin
Signing in to Coin will require you to use the same password and ID you got while opening the Zerodha account. Сoin is the largest direct mutual funds platform in India. The app allows you to invest in mutual funds with 0% commission and in Sovereign gold bonds, Corporate and Government bonds.
Note! Coin does not have a web version. To trade from a computer, use Kite.
Does the Demat account have free brokerage?
There is a fee for opening a trading and Demat account, as we mentioned above. However, this does not mean that trading using this account is also always paid. Zerodha is one of the few trading platforms in India whose account offers a zero-brokerage fee for all direct mutual fund investments. Also, there is no brokerage fee for online equity delivery. Intraday and Futures & Options trading are also cheap: only ₹20 or 0.03%, whichever is less, is charged per order executed.
Note! Zerodha does not require you to have a minimum amount in your trading account.
Free demo trading
Unfortunately, Zerodha does not offer a demo trading account to new traders. However, the platform has a Support Portal or FAQ section. Those who prefer to buy shares online through the Kite platform can use the user manual. It contains lessons on setting up MarketWatch, depositing and withdrawing funds, live charts, placing orders, etc.
If you have any difficulties learning the platform or trading, customer care can also offer assistance for free. For any complaints, write to email email@example.com.
How to start trading on Zerodha?
Once you log in to the online platform, you will need to set up the share market page by populating it with the stocks or indexes you wish to trade. You simply need to type the name of the desired one to see it in various exchanges, then click on it and add one to the watchlist. The watchlist displays lots of information about the shares that will be helpful for you to make online trading, such as the open price for the day, the closing price of the previous day, Day High, etc.
How to close the Zerodha trading account?
You can temporarily deactivate your account if you want to take a break. But if you no longer plan to trade, there is an option to close your account on Zerodha. However, keep in mind that it is not recoverable, and you will have to open a new one to return to the platform.
As with creation, you can close your Zerodha trading account both online and offline. In the first case, you need:
- Visit the website.
- Click “Close account”.
- Select a reason for closing.
- E-sign and click the “Sign Now” button.
- After reading and accepting the Terms and Conditions, enter your mobile number linked to Aadhaar and click “Send OTP”.
- Enter the received OTP and tap the “Verify OTP” button.
Your account will be closed within 72 business hours. If your request is denied, you will receive an email describing the reason for the rejection and instructions.
To close your account offline, follow two simple steps:
- Print and fill out the Account Closure Form.
- Send it to Zerodha headquarters in Bangalore.
Your request will be processed within 5-7 business days. However, account closure will not occur if you have a negative balance on your account. Make sure all dues are paid.
Zerodha is a legit platform that you can trade and invest in with no fear. I hope the information above is helpful to get you started for account opening and online trading in the Indian stock market. However, remember that no platform guarantees to amplify your finances, and results depend only on you. Do not forget about money management and invest wisely to avoid the risk of losing funds. Do not neglect training, as only it can reduce the risk.