Paytm Money and Zerodha are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Paytm Money is listed as a Private Discount Broker , established in 2019 and headquartered in Bangalore, while Zerodha is listed as a Private Discount Broker , established in 2010 and headquartered in Bangalore, India.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Paytm Money or Zerodha is a better fit for your investment style, platform preference, and budget.
Paytm Money is listed as a Private Discount Broker established in 2019 with headquarters in Bangalore and founded by Vijay Shekhar Sharma. The broker highlights access to equity delivery, equity intraday, equity futures, equity options and mutual funds through mobile app access, web trading and algo trading support and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. It follows a Standard Plan brokerage structure.
Zerodha is listed as a Private Discount Broker established in 2010 with headquarters in Bangalore, India and founded by Nithin Kamath. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Paytm Money vs Zerodha — A Comprehensive Company Overview
| Company Overview | Paytm Money | Zerodha |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Bangalore | Bangalore, India |
| Founder | Vijay Shekhar Sharma | Nithin Kamath |
| Establishment Year | 2019 | 2010 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Paytm Money and Zerodha.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Paytm Money charges Rs.15 per Trade & 2.5% (whichever is low) while Zerodha charges Free.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Paytm Money charges Rs.15 per Trade or 0.05% (whichever is Low) while Zerodha charges Rs.20 per Trade or 0.03% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Paytm Money charges Rs.15 per Trade or 0.02% (whichever is low) while Zerodha charges Rs.20 per Trade or 0.03% (whichever is low).
Equity options: This charge applies to equity option contracts. Paytm Money charges Rs.15 per Trade while Zerodha charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Paytm Money charges N/A ; Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low).
Commodity options: This charge applies to option contracts on commodity instruments. Paytm Money charges N/A ; Zerodha charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Paytm Money charges N/A ; Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Paytm Money charges N/A ; Zerodha charges Rs.20 per Trade.
Paytm Money vs Zerodha — Detailed Brokerage Comparison
| Brokerage | Paytm Money | Zerodha |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs.15 per Trade & 2.5% (whichever is low) | Free |
| Equity Intraday | Rs.15 per Trade or 0.05% (whichever is Low) | Rs.20 per Trade or 0.03% (whichever is low) |
| Equity Future | Rs.15 per Trade or 0.02% (whichever is low) | Rs.20 per Trade or 0.03% (whichever is low) |
| Equity Option | Rs.15 per Trade | Rs.20 per Trade |
| Commodity Future | NA | Rs.20 per Trade or 0.03% (whichever is Low) |
| Commodity Option | NA | Rs.20 per Trade |
| Currency Future | NA | Rs.20 per Trade or 0.03% (whichever is Low) |
| Currency Option | NA | Rs.20 per Trade |
Paytm Money provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. Zerodha provides mobile app access, web trading and algo trading support for its users.
Android app: Paytm Money and Zerodha both list an Android trading app.
iOS app: Paytm Money and Zerodha both list an iOS trading app.
Web trading platform: Paytm Money and Zerodha both list a web trading platform.
Desktop trading terminal: Neither broker currently highlights a desktop trading terminal.
Algo trading: Paytm Money and Zerodha both list algo trading support.
Basket trading: Zerodha lists basket trading, while Paytm Money does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Paytm Money and Zerodha both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Zerodha lists a bonds investment platform, while Paytm Money does not currently mention it.
Paytm Money vs Zerodha — Complete Comparison of Trading Platforms
| Trading Platform | Paytm Money | Zerodha |
|---|---|---|
| Android App | Paytm Money Android App Link | Zerodha Android App Link |
| iOS App | Paytm Money iOS App Link | Zerodha iOS App Link |
| Web Trading Platform | Paytm Money Web Trading Link | Zerodha Web Trading Link |
| Trading Terminal | NA | NA |
| Algo Trading Platform | Available | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | Available |
Paytm Money highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking, while Zerodha promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Paytm Money and Zerodha offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Paytm Money and Zerodha offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Paytm Money and Zerodha offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Paytm Money and Zerodha offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. Paytm Money offers this; Zerodha does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. Paytm Money offers this; Zerodha does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Paytm Money and Zerodha offer this feature.
Live market: Live updates on market movements and trends. Both Paytm Money and Zerodha offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Paytm Money and Zerodha offer this feature.
Paytm Money vs Zerodha — Comprehensive Comparison of Trading Features
| Trading Feature | Paytm Money | Zerodha |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | Yes | No |
| Global Indices | Yes | No |
| Customised Recommendations | No | No |
| Stock Tips | No | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Paytm Money and Zerodha.
Free account opening: Neither broker currently highlights free account opening.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: Zerodha lists free brokerage, while Paytm Money does not currently mention it.
Flat brokerage: Paytm Money and Zerodha both list flat brokerage pricing.
Flexible brokerage plans: Neither broker currently highlights flexible brokerage plans.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Zerodha lists free delivery trading, while Paytm Money does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Neither broker currently highlights free research reports.
Free trading calls: Neither broker currently highlights free trading calls.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Paytm Money offers Yes while Zerodha offers 10% + 300 Points per Client for referrals.
Paytm Money vs Zerodha — Comparison of Latest Offers
| Offer | Paytm Money | Zerodha |
|---|---|---|
| Free Account Opening | No | No |
| Free AMC | No | No |
| Free Brokerage | No | Yes, Limited |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | Yes |
| Free Intraday Trading | No | No |
| Free F&O Trading | NA | No |
| Free Research Reports | No | No |
| Free Trading Calls | No | No |
| Referral Offers | Yes | 10% + 300 Points per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Paytm Money highlights equity delivery, equity intraday, equity futures, equity options and mutual funds, while Zerodha highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, mutual funds, commodity futures, commodity options, currency futures, currency options, corporate bonds, government bonds and bonds.
Paytm Money vs Zerodha — Complete Comparison of Products
| Product | Paytm Money | Zerodha |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | No | Yes |
| Commodity Future | No | Yes |
| Currency Option | No | Yes |
| Currency Future | No | Yes |
| Foreign Stocks | No | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | No | No |
Demat services: Paytm Money and Zerodha both list Demat services.
Trading services: Paytm Money and Zerodha both list trading services.
Intraday services: Paytm Money and Zerodha both list intraday trading services.
F&O services: Paytm Money and Zerodha both list F&O services.
IPO services: Paytm Money and Zerodha both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Neither broker currently highlights stock research.
Stock recommendations: Neither broker currently highlights stock recommendations.
Trading education: Zerodha lists trading education, while Paytm Money does not currently mention it.
Share pledging: Paytm Money and Zerodha both list share pledging.
PMS or PCG: Neither broker currently highlights PMS or PCG support.
NRI services: Neither broker currently highlights NRI services.
Paytm Money provides Demat services, trading services, intraday trading, F&O trading, IPO access and share pledging, while Zerodha offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Paytm Money vs Zerodha — In-Depth Comparison of Services
| Service | Paytm Money | Zerodha |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | No | No |
| Stock Recommendations | No | No |
| Trading Education | No | Yes, Zerodha Varsity |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | No |
| NRI Services | No | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Paytm Money and Zerodha.
Paytm Money and Zerodha — Detailed Comparison of Advisory Services
| Advisory | Paytm Money | Zerodha |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | No | No |
| Company Reports | No | No |
| Annual Reports | No | No |
| IPO Reports | No | Yes |
| Technical Reports | No | Yes |
| Stock Tips | No | No |
| Daily Top Stock Picks | No | No |
| Daily Market Review | No | No |
| Monthly Review | No | No |
| Weekly Review | No | Yes |
| Relationship Manager | No | No |
| Robo Advisory | No | Yes |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Paytm Money and Zerodha across different segments.
Paytm Money and Zerodha — Comprehensive Comparison of Trading Exposure
| Exposure | Paytm Money | Zerodha |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1x |
Paytm Money and Zerodha both list a sub-broker program. Paytm Money and Zerodha both list a partner program. Paytm Money and Zerodha both list a referral program.
Paytm Money vs Zerodha — Comparative Analysis of Programs
| Program | Paytm Money | Zerodha |
|---|---|---|
| Sub-Broker Program | Yes | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Paytm Money provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Zerodha provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.
Paytm Money and Zerodha — Comprehensive Comparison of Customer Support
| Support Channel | Paytm Money | Zerodha |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | Available, Chargeable |
| Call Support | 080-46253716 | 080-47181888, 9513369973 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | NA |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | — | Telegram Support Link |
| Branches / Offices | NA | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Paytm Money carries an overall rating of 8.85 / 10, while Zerodha carries an overall rating of 9.85 / 10.
Paytm Money vs Zerodha — Ratings Comparison
| Rating Parameter | Paytm Money | Zerodha |
|---|---|---|
| Overall Rating | 8.85 / 10 | 9.85 / 10 |
| Customer Support | 8.81 / 10 | 9.81 / 10 |
| Technology | 8.95 / 10 | 9.97 / 10 |
| Charges | 8.88 / 10 | 9.89 / 10 |
| Products & Services | 8.79 / 10 | 9.79 / 10 |
| Experience | 8.77 / 10 | 9.77 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Paytm Money & Zerodha — Comparison of Customer Complaints
| Complaint Metric | Paytm Money | Zerodha |
|---|---|---|
| Total Complaints Lodged | 195 | 339 |
| Total Complaints Resolved | 172 | 307 |
| % of Resolved Complaints | 88.21% | 90.56% |
| Non-Actionable Complaints | 18 | 20 |
| % of Non-Actionable Complaints | 9.23% | 5.90% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Paytm Money and Zerodha.
Paytm Money vs Zerodha — Detailed Comparison of Transaction Charges
| Transaction Charges | Paytm Money | Zerodha |
|---|---|---|
| Equity Delivery | 0.00345% (NSE) & 0.00375% (BSE) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Intraday | 0.00345% (NSE) & 0.00375% (BSE) | 0.00325% (NSE) & 0.00375% (BSE) |
| Equity Future | 0.002% (NSE & BSE) | 0.0019% (NSE & BSE) |
| Equity Option | 0.053% (on premium) | 0.05% (on premium) |
| Commodity Future | NA | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | NA | 0.05% (Non Agri) |
| Currency Future | NA | 0.0009% (NSE) & 0.00025% (BSE) |
| Currency Option | NA | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Paytm Money & Zerodha — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Paytm Money | Zerodha |
|---|---|---|
| Pledge Creation Charges | Rs.15 per Request | Rs.30 per Request |
| Pledge Invocation Charges | Rs.15 per Request | Nil |
| Margin Trading Interest | 0.049% per day | 0.05% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Paytm Money and Zerodha — Detailed Comparison of Hidden / Other Charges
| Charge | Paytm Money | Zerodha |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.13.5 per Scrip only on Sell | Rs.13.5 per Scrip on Sell |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Nil | Rs.25 |
| Reactivation Charges | Nil | Rs.20 |
| Dematerialisation Charges | Rs.250 per 100 Certificate | Rs.30 per Certificate |
| Call & Trade Charges | Rs.100 per Trade | Rs.30 per Certificate |
Paytm Money lists account opening charges of Rs.200 and Demat AMC of Free. Zerodha lists account opening charges of Rs.200 – Rs.300 and Demat AMC of Rs.300 per Year.
Paytm Money vs Zerodha — Detailed Comparison of Demat Charges
| Demat Charges | Paytm Money | Zerodha |
|---|---|---|
| Account Opening Charges | Rs.200 | Rs.200 – Rs.300 |
| Annual Maintenance Charges (AMC) | Free | Rs.300 per Year |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Paytm Money vs Zerodha — Comparative Analysis of STT and CTT Charges
| STT & CTT | Paytm Money | Zerodha |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.0625% on sell (on premium) | |
| Commodity Future | NA | |
| Commodity Option | NA | |
| Currency Future | NA | |
| Currency Option | NA |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Paytm Money and Zerodha — Comparison of Stamp Duty Charges
| Stamp Duty | Paytm Money | Zerodha |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.1% on buy & sell |
| Equity Intraday | 0.003% on buy | 0.025% on sell |
| Equity Future | 0.002% on buy | 0.0125% on sell |
| Equity Option | 0.003% on buy | 0.125% on buy, 0.0625% on sell |
| Commodity Future | NA | 0.01% on sell |
| Commodity Option | NA | 0.05% on sell |
| Currency Future | NA | Nil |
| Currency Option | NA | Nil |