Zerodha and HDFC Securities are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Zerodha is listed as a Private Discount Broker , established in 2010 and headquartered in Bangalore, India, while HDFC Securities is listed as a Private Discount Broker , established in 2000 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Zerodha or HDFC Securities is a better fit for your investment style, platform preference, and budget.
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.
HDFC Securities is listed as a Private Discount Broker established in 2000 with headquarters in Mumbai and founded by Dhiraj Relli. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and desktop terminal access and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Starter Pack – Lite 199.
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.
Zerodha vs HDFC Securities — A Comprehensive Company Overview
| Company Overview | Zerodha | HDFC Securities |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Bangalore, India | Mumbai |
| Founder | Nithin Kamath | Dhiraj Relli |
| Establishment Year | 2010 | 2000 |
| Brokerage Plan | Standard Plan | Starter Pack – Lite 199 |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Zerodha and HDFC Securities.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Zerodha charges Free while HDFC Securities charges 0.32% of Transaction Value.
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 HDFC Securities charges 0.032% of Transaction Value.
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 HDFC Securities charges Rs.20 per Trade.
Equity options: This charge applies to equity option contracts. Zerodha charges Rs.20 per Trade while HDFC Securities charges Rs.20 per Trade.
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 HDFC Securities charges 0.025% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Zerodha charges Rs.20 per Trade while HDFC Securities charges Rs.20 per Lot.
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 HDFC Securities charges 0.025% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Zerodha charges Rs.20 per Trade while HDFC Securities charges Rs.25 per Lot.
Zerodha vs HDFC Securities — Detailed Brokerage Comparison
| Brokerage | Zerodha | HDFC Securities |
|---|---|---|
| Brokerage Plan | Standard Plan | Starter Pack – Lite 199 |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Free | 0.32% of Transaction Value |
| Equity Intraday | Rs.20 per Trade or 0.03% (whichever is low) | 0.032% of Transaction Value |
| Equity Future | Rs.20 per Trade or 0.03% (whichever is low) | Rs.20 per Trade |
| Equity Option | Rs.20 per Trade | Rs.20 per Trade |
| Commodity Future | Rs.20 per Trade or 0.03% (whichever is Low) | 0.025% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.20 per Lot |
| Currency Future | Rs.20 per Trade or 0.03% (whichever is Low) | 0.025% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.25 per Lot |
Zerodha provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. HDFC Securities provides mobile app access, web trading and desktop terminal access for its users.
Android app: Zerodha and HDFC Securities both list an Android trading app.
iOS app: Zerodha and HDFC Securities both list an iOS trading app.
Web trading platform: Zerodha and HDFC Securities both list a web trading platform.
Desktop trading terminal: HDFC Securities lists a desktop trading terminal, while Zerodha does not currently mention it.
Algo trading: Zerodha lists algo trading support, while HDFC Securities does not currently mention it.
Basket trading: Zerodha and HDFC Securities both list basket trading.
Foreign stocks platform: HDFC Securities lists foreign stocks access, while Zerodha does not currently mention it.
Mutual fund platform: Zerodha and HDFC Securities both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Zerodha and HDFC Securities both list a bonds investment platform.
Zerodha vs HDFC Securities — Complete Comparison of Trading Platforms
| Trading Platform | Zerodha | HDFC Securities |
|---|---|---|
| Android App | Zerodha Android App Link | HDFC Securities Android App Link |
| iOS App | Zerodha iOS App Link | HDFC Securities iOS App Link |
| Web Trading Platform | Zerodha Web Trading Link | HDFC Securities Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | Available | Available |
Zerodha highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, while HDFC Securities promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices 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 Zerodha and HDFC Securities offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Zerodha and HDFC Securities offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Zerodha and HDFC Securities offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Zerodha and HDFC Securities offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. HDFC Securities offers this; Zerodha does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. HDFC Securities 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 HDFC Securities offer this feature.
Live market: Live updates on market movements and trends. Both Zerodha and HDFC Securities offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Zerodha and HDFC Securities offer this feature.
Zerodha vs HDFC Securities — Comprehensive Comparison of Trading Features
| Trading Feature | Zerodha | HDFC Securities |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | No | Yes |
| Global Indices | No | Yes |
| 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 Zerodha and HDFC Securities.
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 HDFC Securities does not currently mention it.
Flat brokerage: Zerodha and HDFC Securities both list flat brokerage pricing.
Flexible brokerage plans: HDFC Securities lists flexible brokerage plans, while Zerodha does not currently mention it.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Zerodha lists free delivery trading, while HDFC Securities 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: HDFC Securities lists free research reports, while Zerodha does not currently mention it.
Free trading calls: HDFC Securities lists free trading calls, while Zerodha does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Zerodha offers 10% + 300 Points per Client while HDFC Securities offers Rs.200 per Client for referrals.
Zerodha vs HDFC Securities — Comparison of Latest Offers
| Offer | Zerodha | HDFC Securities |
|---|---|---|
| Free Account Opening | No | No |
| Free AMC | No | No |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | Yes, Limited |
| Flexible Brokerage Plans | No | Yes |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | 10% + 300 Points per Client | Rs.200 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. Zerodha highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while HDFC Securities 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, commodity futures, commodity options, currency futures, currency options, mutual funds, corporate bonds, government bonds, bonds, foreign stocks, banking services and insurance.
Zerodha vs HDFC Securities — Complete Comparison of Products
| Product | Zerodha | HDFC Securities |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | Yes |
| Insurance | No | Yes |
| Corporate Bonds | Yes | Yes |
| Government Bonds | Yes | Yes |
| Digital Gold | No | No |
Demat services: Zerodha and HDFC Securities both list Demat services.
Trading services: Zerodha and HDFC Securities both list trading services.
Intraday services: Zerodha and HDFC Securities both list intraday trading services.
F&O services: Zerodha and HDFC Securities both list F&O services.
IPO services: Zerodha and HDFC Securities both list IPO services.
3-in-1 account: HDFC Securities lists 3-in-1 account support, while Zerodha does not currently mention it.
Stock research: HDFC Securities lists stock research, while Zerodha does not currently mention it.
Stock recommendations: HDFC Securities lists stock recommendations, while Zerodha does not currently mention it.
Trading education: Zerodha lists trading education, while HDFC Securities does not currently mention it.
Share pledging: Zerodha and HDFC Securities both list share pledging.
PMS or PCG: HDFC Securities lists PMS or PCG support, while Zerodha does not currently mention it.
NRI services: HDFC Securities lists NRI services, while Zerodha does not currently mention it.
Zerodha provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while HDFC Securities offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
Zerodha vs HDFC Securities — In-Depth Comparison of Services
| Service | Zerodha | HDFC Securities |
|---|---|---|
| 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 | Yes |
| Stock Research | No | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | Yes, Zerodha Varsity | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | Yes |
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 HDFC Securities.
Zerodha and HDFC Securities — Detailed Comparison of Advisory Services
| Advisory | Zerodha | HDFC Securities |
|---|---|---|
| Fundamental Reports | Yes | Yes |
| Research Reports | No | Yes |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| IPO Reports | Yes | Yes |
| Technical Reports | Yes | Yes |
| Stock Tips | No | Yes |
| Daily Top Stock Picks | No | Yes |
| Daily Market Review | No | Yes |
| Monthly Review | No | Yes |
| Weekly Review | Yes | Yes |
| Relationship Manager | No | No |
| Robo Advisory | Yes | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Zerodha and HDFC Securities across different segments.
Zerodha and HDFC Securities — Comprehensive Comparison of Trading Exposure
| Exposure | Zerodha | HDFC Securities |
|---|---|---|
| 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 |
Zerodha and HDFC Securities both list a sub-broker program. Zerodha and HDFC Securities both list a partner program. Zerodha and HDFC Securities both list a referral program.
Zerodha vs HDFC Securities — Comparative Analysis of Programs
| Program | Zerodha | HDFC Securities |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Zerodha provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. HDFC Securities provides support through trading desk support, dedicated dealer assistance, call support, website support and Facebook support. HDFC Securities operates Available branches.
Zerodha and HDFC Securities — Comprehensive Comparison of Customer Support
| Support Channel | Zerodha | HDFC Securities |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Free |
| Dedicated Dealer | Available, Chargeable | Available, Free |
| Call Support | 080-47181888, 9513369973 | 022-39019400 |
| Email Support | [email protected] | NA |
| 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 | Telegram Support Link |
| Branches / Offices | NA | Available |
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 HDFC Securities carries an overall rating of 9.50 / 10.
Zerodha vs HDFC Securities — Ratings Comparison
| Rating Parameter | Zerodha | HDFC Securities |
|---|---|---|
| Overall Rating | 9.85 / 10 | 9.50 / 10 |
| Customer Support | 9.81 / 10 | 9.46 / 10 |
| Technology | 9.97 / 10 | 9.61 / 10 |
| Charges | 9.89 / 10 | 9.53 / 10 |
| Products & Services | 9.79 / 10 | 9.44 / 10 |
| Experience | 9.77 / 10 | 9.42 / 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.
Zerodha & HDFC Securities — Comparison of Customer Complaints
| Complaint Metric | Zerodha | HDFC Securities |
|---|---|---|
| Total Complaints Lodged | 339 | 129 |
| Total Complaints Resolved | 307 | 104 |
| % of Resolved Complaints | 90.56% | 80.62% |
| Non-Actionable Complaints | 20 | 8 |
| % of Non-Actionable Complaints | 5.90% | 6.20% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Zerodha and HDFC Securities.
Zerodha vs HDFC Securities — Detailed Comparison of Transaction Charges
| Transaction Charges | Zerodha | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Future | 0.0019% (NSE & BSE) | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 |
| Equity Option | 0.05% (on premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) (on premium) |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00025% (BSE) | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) |
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.
Zerodha & HDFC Securities — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Zerodha | HDFC Securities |
|---|---|---|
| Pledge Creation Charges | Rs.30 per Request | |
| Pledge Invocation Charges | Nil | |
| Margin Trading Interest | 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.
Zerodha and HDFC Securities — Detailed Comparison of Hidden / Other Charges
| Charge | Zerodha | HDFC Securities |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | 0.0001% (₹10/Crore) of the turnover |
| DP Charges | Rs.13.5 per Scrip on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
| Account Closure Charges | Rs.25 | |
| Reactivation Charges | Rs.20 | |
| Dematerialisation Charges | Rs.30 per Certificate | |
| Call & Trade Charges | Rs.30 per Certificate |
Zerodha lists account opening charges of Rs.200 – Rs.300 and Demat AMC of Rs.300 per Year. HDFC Securities lists account opening charges of Rs.199 and Demat AMC of Rs.750 per Year.
Zerodha vs HDFC Securities — Detailed Comparison of Demat Charges
| Demat Charges | Zerodha | HDFC Securities |
|---|---|---|
| Account Opening Charges | Rs.200 – Rs.300 | Rs.199 |
| Annual Maintenance Charges (AMC) | Rs.300 per Year | Rs.750 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.
Zerodha vs HDFC Securities — Comparative Analysis of STT and CTT Charges
| STT & CTT | Zerodha | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.1% of total transaction value | |
| Equity Intraday | 0.025% of turnover | |
| Equity Future | 0.01% of turnover | |
| Equity Option | 0.05% | |
| Commodity Future | 0.01% | |
| Commodity Option | 0.05% | |
| Currency Future | - | |
| Currency Option | - |
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.
Zerodha and HDFC Securities — Comparison of Stamp Duty Charges
| Stamp Duty | Zerodha | HDFC Securities |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.015% |
| Equity Intraday | 0.025% on sell | 0.003% |
| Equity Future | 0.0125% on sell | 0.002% |
| Equity Option | 0.125% on buy, 0.0625% on sell | 0.003% |
| Commodity Future | 0.01% on sell | 0.002% |
| Commodity Option | 0.05% on sell | 0.003% (MCX) |
| Currency Future | Nil | 0.0001% |
| Currency Option | Nil | 0.0001% |