Zerodha and SBI 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 SBI Securities is listed as a Public Discount Broker , established in Arun Mehta 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 SBI 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.
SBI Securities is listed as a Public Discount Broker established in Arun Mehta with headquarters in Mumbai and founded by Arun Mehta. 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 stock tips. 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.
Zerodha vs SBI Securities — A Comprehensive Company Overview
| Company Overview | Zerodha | SBI Securities |
|---|---|---|
| Company Type | Private | Public |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Bangalore, India | Mumbai |
| Founder | Nithin Kamath | Arun Mehta |
| Establishment Year | 2010 | Arun Mehta |
| 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 Zerodha and SBI Securities.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Zerodha charges Free while SBI Securities charges 0.50% 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 SBI Securities charges 0.075% 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 SBI Securities charges 0.05% of Transaction Value.
Equity options: This charge applies to equity option contracts. Zerodha charges Rs.20 per Trade while SBI Securities charges Rs.50 to Rs.100 per lot.
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 SBI Securities charges 0.05% of Transaction Value.
Commodity options: This charge applies to option contracts on commodity instruments. Zerodha charges Rs.20 per Trade while SBI Securities charges Rs.50 to Rs.100 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 SBI Securities charges 0.05% of Transaction Value.
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Zerodha charges Rs.20 per Trade while SBI Securities charges Rs.20 to Rs.30 per lot.
Zerodha vs SBI Securities — Detailed Brokerage Comparison
| Brokerage | Zerodha | SBI Securities |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Free | 0.50% of Transaction Value |
| Equity Intraday | Rs.20 per Trade or 0.03% (whichever is low) | 0.075% of Transaction Value |
| Equity Future | Rs.20 per Trade or 0.03% (whichever is low) | 0.05% of Transaction Value |
| Equity Option | Rs.20 per Trade | Rs.50 to Rs.100 per lot |
| Commodity Future | Rs.20 per Trade or 0.03% (whichever is Low) | 0.05% of Transaction Value |
| Commodity Option | Rs.20 per Trade | Rs.50 to Rs.100 per lot |
| Currency Future | Rs.20 per Trade or 0.03% (whichever is Low) | 0.05% of Transaction Value |
| Currency Option | Rs.20 per Trade | Rs.20 to Rs.30 per lot |
Zerodha provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. SBI Securities provides mobile app access, web trading and desktop terminal access for its users.
Android app: Zerodha and SBI Securities both list an Android trading app.
iOS app: Zerodha and SBI Securities both list an iOS trading app.
Web trading platform: Zerodha and SBI Securities both list a web trading platform.
Desktop trading terminal: SBI Securities lists a desktop trading terminal, while Zerodha does not currently mention it.
Algo trading: Zerodha lists algo trading support, while SBI Securities does not currently mention it.
Basket trading: Zerodha and SBI Securities both list basket trading.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Zerodha and SBI Securities both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Zerodha and SBI Securities both list a bonds investment platform.
Zerodha vs SBI Securities — Complete Comparison of Trading Platforms
| Trading Platform | Zerodha | SBI Securities |
|---|---|---|
| Android App | Zerodha Android App Link | SBI Securities Android App Link |
| iOS App | Zerodha iOS App Link | SBI Securities iOS App Link |
| Web Trading Platform | Zerodha Web Trading Link | SBI Securities Web Trading Link |
| Trading Terminal | NA | Available |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | NA |
| 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 SBI Securities promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and stock tips. 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 SBI Securities offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Zerodha and SBI Securities offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Zerodha and SBI Securities offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Zerodha and SBI Securities offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. SBI Securities offers this; Zerodha does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. SBI 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 SBI Securities offer this feature.
Live market: Live updates on market movements and trends. Both Zerodha and SBI Securities offer this feature.
Multi profile management: Manage multiple trading profiles from a single account. SBI Securities offers this; Zerodha does not currently highlight it.
Secure platform: A secure trading environment with next-generation security controls. Both Zerodha and SBI Securities offer this feature.
Zerodha vs SBI Securities — Comprehensive Comparison of Trading Features
| Trading Feature | Zerodha | SBI 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 | No |
| Customised Recommendations | No | No |
| Stock Tips | No | Yes |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | Yes |
| 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 SBI 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 SBI Securities does not currently mention it.
Flat brokerage: Zerodha lists flat brokerage pricing, while SBI Securities does not currently mention it.
Flexible brokerage plans: SBI 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 SBI 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: SBI Securities lists free research reports, while Zerodha does not currently mention it.
Free trading calls: SBI 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 SBI Securities offers Upto Rs.700 per Client for referrals.
Zerodha vs SBI Securities — Comparison of Latest Offers
| Offer | Zerodha | SBI Securities |
|---|---|---|
| Free Account Opening | No | No |
| Free AMC | No | No |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | No |
| 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 | Upto Rs.700 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | Yes |
| 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 SBI 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, banking services and insurance.
Zerodha vs SBI Securities — Complete Comparison of Products
| Product | Zerodha | SBI 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 | No |
| 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 SBI Securities both list Demat services.
Trading services: Zerodha and SBI Securities both list trading services.
Intraday services: Zerodha and SBI Securities both list intraday trading services.
F&O services: Zerodha and SBI Securities both list F&O services.
IPO services: Zerodha and SBI Securities both list IPO services.
3-in-1 account: SBI Securities lists 3-in-1 account support, while Zerodha does not currently mention it.
Stock research: SBI Securities lists stock research, while Zerodha does not currently mention it.
Stock recommendations: SBI Securities lists stock recommendations, while Zerodha does not currently mention it.
Trading education: Zerodha and SBI Securities both list trading education.
Share pledging: Zerodha and SBI Securities both list share pledging.
PMS or PCG: SBI Securities lists PMS or PCG support, while Zerodha does not currently mention it.
NRI services: SBI 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 SBI Securities offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
Zerodha vs SBI Securities — In-Depth Comparison of Services
| Service | Zerodha | SBI 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 | Yes, Investor Sarathi |
| 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 SBI Securities.
Zerodha and SBI Securities — Detailed Comparison of Advisory Services
| Advisory | Zerodha | SBI 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 | Yes |
| 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 SBI Securities across different segments.
Zerodha and SBI Securities — Comprehensive Comparison of Trading Exposure
| Exposure | Zerodha | SBI 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 SBI Securities both list a sub-broker program. Zerodha and SBI Securities both list a partner program. Zerodha and SBI Securities both list a referral program.
Zerodha vs SBI Securities — Comparative Analysis of Programs
| Program | Zerodha | SBI Securities |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes |
| 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. SBI Securities provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. SBI Securities operates Available branches.
Zerodha and SBI Securities — Comprehensive Comparison of Customer Support
| Support Channel | Zerodha | SBI Securities |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Free |
| Dedicated Dealer | Available, Chargeable | Available, Free |
| Call Support | 080-47181888, 9513369973 | 022-68545555 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | 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 SBI Securities carries an overall rating of 8.95 / 10.
Zerodha vs SBI Securities — Ratings Comparison
| Rating Parameter | Zerodha | SBI Securities |
|---|---|---|
| Overall Rating | 9.85 / 10 | 8.95 / 10 |
| Customer Support | 9.81 / 10 | 8.92 / 10 |
| Technology | 9.97 / 10 | 9.06 / 10 |
| Charges | 9.89 / 10 | 8.99 / 10 |
| Products & Services | 9.79 / 10 | 8.90 / 10 |
| Experience | 9.77 / 10 | 8.88 / 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 & SBI Securities — Comparison of Customer Complaints
| Complaint Metric | Zerodha | SBI Securities |
|---|---|---|
| Total Complaints Lodged | 339 | 182 |
| Total Complaints Resolved | 307 | 162 |
| % of Resolved Complaints | 90.56% | 89.01% |
| Non-Actionable Complaints | 20 | 11 |
| % of Non-Actionable Complaints | 5.90% | 6.04% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Zerodha and SBI Securities.
Zerodha vs SBI Securities — Detailed Comparison of Transaction Charges
| Transaction Charges | Zerodha | SBI Securities |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.05% (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) | |
| Currency Option | 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.
Zerodha & SBI Securities — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Zerodha | SBI 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 SBI Securities — Detailed Comparison of Hidden / Other Charges
| Charge | Zerodha | SBI Securities |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.13.5 per Scrip on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| 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. SBI Securities lists account opening charges of Rs.850 and Demat AMC of Rs.750.
Zerodha vs SBI Securities — Detailed Comparison of Demat Charges
| Demat Charges | Zerodha | SBI Securities |
|---|---|---|
| Account Opening Charges | Rs.200 – Rs.300 | Rs.850 |
| Annual Maintenance Charges (AMC) | Rs.300 per Year | Rs.750 |
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 SBI Securities — Comparative Analysis of STT and CTT Charges
| STT & CTT | Zerodha | SBI Securities |
|---|---|---|
| Equity Delivery | ||
| Equity Intraday | ||
| Equity Future | ||
| Equity Option | ||
| Commodity Future | ||
| Commodity Option | ||
| 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 SBI Securities — Comparison of Stamp Duty Charges
| Stamp Duty | Zerodha | SBI Securities |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.125% on buy, 0.0625% on sell | |
| Commodity Future | 0.01% on sell | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | Nil |