Zerodha vs First Demat – Compare Charges, Trading Features, Offers & More

Overview — Zerodha vs. First Demat

Zerodha is listed as a Private Discount Broker established in 2010 with headquarters in Bangalore, India and founded by Nithin Kamath. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures 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, interactive charts and live market tracking. It follows a Standard Plan brokerage structure.

First Demat is listed as a Private Discount Broker established in 2026 with headquarters in Ranchi, Jharkhand and founded by Sandhya Kumari. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds 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, research reports and customised recommendations. Its brokerage model is structured as Single flat plan on site; file says 'multiple brokerage packs'.

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.

Brokerage charges comparison — Zerodha vs. First Demat

Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Zerodha and First Demat.

Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Zerodha charges Free while First Demat charges 0.1% or ₹20 per executed order, whichever is lower.

Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Zerodha charges Rs.20 per Trade or 0.03% (whichever is low) while First Demat charges 0.1% or ₹20 per executed order, whichever is lower.

Equity futures: This charge applies to futures contracts on stocks and indices. Zerodha charges Rs.20 per Trade or 0.03% (whichever is low) while First Demat charges Flat ₹20 per executed order.

Equity options: This charge applies to equity option contracts. Zerodha charges Rs.20 per Trade while First Demat charges Flat ₹20 per executed order.

Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low) while First Demat charges Starting ₹20 per order (not on pricing page).

Commodity options: This charge applies to option contracts on commodity instruments. Zerodha charges Rs.20 per Trade while First Demat charges Starting ₹20 per order (not on pricing page).

Currency futures: This charge allows participation in forex price movements on the exchange. Zerodha charges Rs.20 per Trade or 0.03% (whichever is Low) while First Demat charges Not offered.

Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Zerodha charges Rs.20 per Trade while First Demat charges Not offered.

Trading platforms comparison — Zerodha vs. First Demat

Zerodha provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. First Demat provides mobile app access, web trading and algo trading support for its users.

• Android app: Zerodha and First Demat both list an Android trading app.

• iOS app: Zerodha and First Demat both list an iOS trading app.

• Web trading platform: Zerodha and First Demat both list a web trading platform.

• Desktop trading terminal: Neither broker currently highlights a desktop trading terminal.

• Algo trading: Zerodha and First Demat both list algo trading support.

• Basket trading: Zerodha and First Demat both list basket trading.

• Foreign stocks platform: Neither broker currently highlights foreign stocks access.

• Mutual fund platform: Zerodha and First Demat both list a mutual fund investment platform.

• Digital gold platform: First Demat lists digital gold investing, while Zerodha does not currently mention it.

• Bonds platform: Zerodha lists a bonds investment platform, while First Demat does not currently mention it.

Zerodha vs. First Demat — Comparison of trading features

Zerodha highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, while First Demat promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and customised recommendations. 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 Zerodha and First Demat offer this feature.

• Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Zerodha and First Demat offer this feature.

• Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Zerodha and First Demat offer this feature.

• Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Zerodha and First Demat offer this feature.

• Research reports: A comprehensive overview of different stocks and sectors in the stock market. First Demat offers this; Zerodha does not currently highlight it.

• Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. First Demat offers this; Zerodha does not currently highlight it.

• Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Zerodha and First Demat offer this feature.

• Live market: Live updates on market movements and trends. Both Zerodha and First Demat offer this feature.

• Secure platform: A secure trading environment with next-generation security controls. Both Zerodha and First Demat offer this feature.

Zerodha vs. First Demat — Comparison of offers

Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Zerodha and First Demat.

• Free account opening: First Demat lists free account opening, while Zerodha does not currently mention it.

• Free AMC: First Demat lists free Demat AMC, while Zerodha does not currently mention it.

• Free brokerage: Zerodha lists free brokerage, while First Demat does not currently mention it.

• Flat brokerage: Zerodha and First Demat 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 First Demat 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: First Demat lists free research reports, while Zerodha does not currently mention it.

• 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: Zerodha offers 10% + 300 Points per Client for referrals; First Demat does not currently list a referral offer.

Offered products comparison — First Demat vs. Zerodha

Product availability determines whether a broker can support your preferred markets. Zerodha highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while First Demat highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and mutual funds.

The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options, mutual funds, corporate bonds, government bonds, bonds and digital gold.

• Demat services: Zerodha and First Demat both list Demat services.

• Trading services: Zerodha and First Demat both list trading services.

• Intraday services: Zerodha and First Demat both list intraday trading services.

• F&O services: Zerodha and First Demat both list F&O services.

• IPO services: Zerodha and First Demat both list IPO services.

• 3-in-1 account: Neither broker currently highlights 3-in-1 account support.

• Stock research: First Demat lists stock research, while Zerodha does not currently mention it.

• Stock recommendations: First Demat lists stock recommendations, while Zerodha does not currently mention it.

• Trading education: Zerodha lists trading education, while First Demat does not currently mention it.

• Share pledging: Zerodha and First Demat both list share pledging.

• PMS or PCG: Neither broker currently highlights PMS or PCG support.

• NRI services: Neither broker currently highlights NRI services.

Offered services comparison — Zerodha vs. First Demat

Zerodha provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while First Demat offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.

Stock advisory service comparison — Zerodha vs. First Demat

Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Zerodha and First Demat.

Exposure comparison — Zerodha vs. First Demat

Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Zerodha and First Demat across different segments.

Comparison of programs — Zerodha vs. First Demat

Zerodha lists a sub-broker program, while First Demat does not currently mention it. Zerodha lists a partner program, while First Demat does not currently mention it. Zerodha lists a referral program, while First Demat does not currently mention it.

Customer support comparison — Zerodha vs. First Demat

Zerodha provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. First Demat provides support through trading desk support, call support, email support and website support. First Demat operates Only Ranchi head office listed branches.

Ratings — Zerodha vs. First Demat

Both brokers have been evaluated across key parameters to help investors make an informed comparison. Zerodha carries an overall rating of 9.85 / 10, while First Demat carries an overall rating of 5/5.

Complaints — Zerodha vs. First Demat

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.

Transaction charges comparison — Zerodha vs. First Demat

Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Zerodha and First Demat.

Pledge charges comparison — Zerodha vs. First Demat

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.

Hidden charges comparison — Zerodha vs. First Demat

Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.

Compare Demat charges — Zerodha vs First Demat

Zerodha lists account opening charges of Rs.200 – Rs.300 and Demat AMC of Rs.300 per Year. First Demat lists account opening charges of Online ₹0; offline ₹500 and Demat AMC of ₹0 for first year; later years not disclosed.

Zerodha vs First Demat — Compare STT & CTT

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.

Compare stamp duty — Zerodha and First Demat

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.

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