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India has started to embrace the stock market. Did you know that in October 2024, an average of 4.22 crore equity trades were executed every day?😲
Each of these trades came with a cost known as brokerage. A fee that can vary depending on the broker and the type of trade. This means that investors actively trading in the stock market need to account for these additional costs when calculating their overall expenses.
To make the most of every trade and investment opportunity, it is essential to understand brokerage charges. And… it is easy! There are tools, like the Zerodha Brokerage Calculator, you can use. It will help you figure out the exact cost of a trade and make informed investment decisions.
Coverings:
- Zerodha Charges
- Zerodha Brokerage Charges
- Zerodha Brokerage Calculator
- Zerodha vs Upstox: Brokerage Comparison
Zerodha is a discount broker founded in 2010. Today, it is trusted by 78.84+ lakh users and provides a range of trading services across multiple asset classes, including:
- Equities
- Commodities
- Currencies
- Futures
- Options
- Mutual Funds
- IPO
- Bonds & Debt
- Exchange Traded Funds (ETFs)
It also offers 5 different trading platforms and an app. But is this information enough? Before you rush off and open a Demat account with Zerodha, you need to know its brokerage charges and how they are calculated. Let's start!
Zerodha Charges
|
Category |
Charges |
|
Account Opening |
₹0 |
|
Account Maintenance Charges (AMC)* |
₹300 + GST |
Zerodha Brokerage Charges
Here is a breakdown of what Zerodha charges for all trades:
|
Category |
Equity Delivery |
Equity Intraday |
Futures |
Options |
|
Brokerage |
₹0 |
0.03% or ₹20 (whichever is lower) |
0.03% or ₹20 (whichever is lower) |
₹20 |
|
Exchange Charges |
NSE: 0.00297% BSE: 0.00375% (of turnover) |
NSE: 0.00297% BSE: 0.00375% (of turnover) |
NSE: 0.00173% BSE: 0.00% (of turnover) |
NSE: 0.03503% BSE: 0.0325% (on options premium) |
|
Security Transaction Tax (STT) |
Buy: 0.1% | Sell: 0.1% (of turnover) |
0.025% (Sell)(of turnover) |
0.02% (Sell) (of turnover) |
0.1% (Sell) (on options premium) |
|
SEBI Charges |
0.0001% of turnover |
0.0001% of turnover |
0.0001% of turnover |
0.0001% (on options premium) |
|
GST |
18% on Brokerage, SEBI and Exchange Charges |
18% on Brokerage, SEBI and Exchange Charges |
18% on Brokerage, SEBI and Exchange Charges |
18% on Brokerage, SEBI and Exchange Charges |
|
Stamp Duty |
0.015% (Buy) (of turnover) |
0.003% (Buy) (of turnover) |
0.002% (Buy) (of turnover) |
0.003% (Buy) (on options premium) |
|
Contribution to IPFT |
0.0001% of turnover |
0.0001% of turnover |
0.0001% of turnover |
0.0005% (on options premium) |
*Note: Zerodha is a self-clearing member; hence, clearing charges are not applicable.
Now that you know the different applicable charges, let's move on to understanding how these are calculated.
Zerodha Brokerage Calculator
Here are some examples to help you figure out how the calculator works:
1. Equity Delivery
Suppose you are buying 40 shares worth ₹1,500 each on the NSE. Now, here is how much brokerage you will end up paying:
|
Category |
Equity Delivery |
|
Turnover |
₹60,000 |
|
Brokerage |
₹0 |
|
Exchange Charges |
₹1.78 |
|
Security Transaction Tax (STT) |
₹60 |
|
SEBI Charges |
₹0.06 |
|
GST |
₹0.33 |
|
Contribution to IPFT |
₹0.06 |
|
Stamp Duty |
₹9 |
|
Clearing Charges |
NA |
|
Total Charges |
₹71.23 |
|
Net Debit |
₹60,071.23 |
Let's break down how these charges are calculated:
|
Category |
Calculation |
Equity Intraday |
|
Turnover |
40 x ₹1,500 |
₹60,000 |
|
Brokerage* |
₹0 |
₹0 |
|
Exchange Charges |
0.00297% x Turnover |
0.00297% x ₹60,000 = ₹1.78 |
|
STT |
0.1% x Turnover |
0.1% x ₹60,000 = ₹60 |
|
SEBI Charges |
0.0001% of Turnover |
0.0001% of ₹60,000 = ₹0.06 |
|
GST |
18% on Brokerage, SEBI and Exchange Charges |
18% ( ₹0 + ₹1.75 + ₹0.06) = ₹0.33 |
|
Contribution to IPFT |
0.0001% x Turnover |
0.0001% x ₹60,000 = ₹0.06 |
|
Stamp Duty |
0.015% x Turnover |
0.015% x ₹60,000 = ₹9 |
|
Clearing Charges |
NA |
₹0 |
|
Total Charges |
Brokerage + Exchange Charges + STT + SEBI Charges + GST + Contribution to IPFT + Stamp Duty |
(₹0 + ₹1.78 + ₹60 + ₹0.06 + ₹0.33 + ₹0.06 + ₹9) = ₹71.23 |
|
Net Debit |
Turnover + Total Charges |
₹60,000 + ₹71.23 = ₹60,071.23 |
So, this is how Zerodha's brokerage charges are calculated for equity delivery trades.
2. For Futures
Suppose you are selling a futures contract of 50 shares worth ₹1,000 each on NSE. Now, here is how much brokerage you will end up paying:
|
Category |
Futures |
|
Turnover |
₹50,000 |
|
Brokerage |
₹15 |
|
Exchange Charges |
₹0.87 |
|
Security Transaction Tax (STT) |
₹10 |
|
SEBI Charges |
₹0.05 |
|
GST |
₹2.87 |
|
Contribution to IPFT |
₹0.036 |
|
Stamp Duty |
₹1 |
|
Clearing Charges |
₹0 |
|
Total Charges |
₹29.84 |
|
Total P&L |
₹49,970.16 |
Let's break down how these charges are calculated:
|
Category |
Calculation |
Futures |
|
Turnover |
50 x ₹1,000 |
₹50,000 |
|
Brokerage* |
0.03% x Turnover or ₹20 |
0.03% x ₹50,000 = ₹15 or ₹20 |
|
Exchange Charges |
0.00173% x Turnover |
0.00173% x ₹50,000 = ₹0.87 |
|
STT |
0.02% x Turnover |
0.02% x ₹50,000 = ₹10 |
|
SEBI Charges |
0.0001% x Turnover |
0.0001% x ₹50,000 = ₹0.05 |
|
GST |
18% on Brokerage, SEBI and Exchange Charges |
18% ( ₹15 + ₹0.87 + ₹0.05) = ₹2.87 |
|
Contribution to IPFT |
0.002% x Turnover |
0.0001% x ₹50,000 = ₹0.05 |
|
Stamp Duty |
0.002% x Turnover |
0.002% x ₹50,000 = ₹1 |
|
Clearing Charges |
NA |
₹0 |
|
Total Charges |
Brokerage + Exchange Charges + STT + SEBI Charges + GST + Contribution to IPFT + Stamp Duty + Clearing Charges |
(₹15 + ₹0.87 + ₹10 + ₹0.05 + ₹2.87 + ₹0.05 + ₹1 + ₹0) = ₹29.84 |
|
Total P&L |
Turnover - Total Charges |
₹50,000 - ₹29.84 = ₹49,970.16 |
Note: Applicable brokerage is ₹15 since it is lower than ₹20. Now, you understand how Zerodha’s brokerage charges are calculated for futures trades.
3. For Options
Suppose you are selling an options contract of 20 lots worth ₹1,500 each on NSE. Now, here is how much brokerage you will end up paying:
|
Category |
Futures |
|
Turnover |
₹30,000 |
|
Brokerage |
₹20 |
|
Exchange Charges |
₹10.6 |
|
Security Transaction Tax (STT) |
₹30 |
|
SEBI Charges |
₹0.03 |
|
GST |
₹5.51 |
|
Contribution to IPFT |
₹0.03 |
|
Stamp Duty |
₹0.9 |
|
Clearing Charges |
NA |
|
Total Charges |
₹67.07 |
|
Total P&L |
₹29,932.93 |
Let's break down how these charges are calculated:
|
Category |
Calculation |
Options |
|
Turnover |
20 x ₹1,500 |
₹30,000 |
|
Brokerage |
₹20 |
₹20 |
|
Exchange Charges |
0.03503% x Turnover |
0.03503% x ₹30,000 = ₹10.6 |
|
STT |
0.1% x Turnover |
0.1% x ₹30,000 = ₹30 |
|
SEBI Charges |
0.0001% x Turnover |
0.0001% x ₹30,000 = ₹0.03 |
|
GST |
18% on Brokerage, SEBI and Exchange Charges |
18% (₹20 + ₹10.6 + ₹0.03) = ₹5.51 |
|
Contribution to IPFT |
0.0001% x Turnover |
0.0001% x ₹30,000 = ₹0.03 |
|
Stamp Duty |
0.002% x Turnover |
0.003% x ₹3,0000 = ₹0.9 |
|
Clearing Charges |
NA |
₹0 |
|
Total Charges |
Brokerage + Exchange Charges + STT + SEBI Charges + GST + Contribution to IPFT + Stamp Duty + Clearing Charges |
(₹20 + ₹10.6 + ₹30 + ₹0.03 + ₹5.51 + ₹0.03 + ₹0.9 + ₹0) = ₹67.07 |
|
Total P&L |
Turnover - Total Charges |
₹30,000 - ₹67.07 = ₹29,932.93 |
Zerodha vs Upstox: Brokerage Comparison
There are 2 parts that make brokerage charges:
- Brokerage fee: Vary across brokers
- Statutory charges: Mostly constant
The difference in trading cost stems from what your broker charges you. That's why you need to give serious thought before picking one. As an active trader, you need to consider every rupee to get the most out of your investment decisions. Here is an example comparing Zerodha and Upstox to help you understand better.
Imagine you are buying 40 shares worth ₹1,200 each on NSE.
Now, here is how much brokerage you will end up paying:
- Total Turnover = No. of shares x Price per share = ₹48,000
- Exchange = NSE
|
Category |
Zerodha |
Upstox |
|
Account Opening |
₹0 |
₹0 |
|
AMC |
₹300 + GST |
₹0 |
|
Brokerage |
₹0 |
₹20 |
|
Exchange Charges |
0.00297% = ₹1.43 |
0.00297% = ₹1.43 |
|
STT |
0.1% = ₹48 |
0.1% = ₹48 |
|
SEBI Charges |
0.0001% = ₹0.048 |
0.0001% = ₹0.048 |
|
GST |
18% (₹0 + ₹1.43 + ₹0.048) = ₹0.27 |
18% (₹20 + ₹1.43 + ₹0.048) = ₹3.87 |
|
Contribution to IPFT |
0.0001% = ₹0.048 |
0.0001% = ₹0.048 |
|
Stamp Duty |
0.015% = ₹7.2 |
0.015% = ₹7.2 |
|
Total Charges |
₹56.996 |
₹80.60 |
|
Net Debit |
=Total Turnover + Total Charges = ₹48,000 + ₹58.206 = ₹48,056.996 |
=Total Turnover + Total Charges = ₹48,000 + ₹80.60 = ₹48,080.60 |
Zerodha charges for the same trade are less than what Upstox charges. Now you see how even one factor can increase your trading costs and eat your profits.
If we consider brokerage, Zerodha is the superior choice. However, it is just one aspect to look into when choosing a broker. Head to Finology Select and compare all the features, services and charges associated with Zerodha and Upstox here!
Conclusion
Zerodha has been serving investors for 14 long years now. It offers various investment options and platforms. Additionally, it also provides educational resources to help you better understand the market. It even offers free account opening with a ₹0 brokerage fee on equity delivery. While charges for equity intraday, futures and options are capped at ₹20.
Want to know the exact fee charged by Zerodha for your next trade? Head to the Zerodha Brokerage Calculator on Finology Select! Enter each trade with confidence, knowing what it will cost you.
This is how Zerodha's brokerage charges for options trades are calculated.
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