Geojit vs Zerodha

Geojit vs Zerodha, Compare the Brokers

Geojit is a full-service broker with a range of trading, advisory, and other value-added products like Insurance, PMS, and financial planning services. 

Geojit brokerages start with 0.30% (for equity delivery) which is less than the typically 0.50% charged by other full-service stockbrokers.  

Whereas, Zerodha is a discount broking company offering trading services with the maximum brokerage of Rs. 20 per executed trades on most of the segments. The delivery trades are free. 

At Zerodha, other products like stock reports, screeners are paid services.

Geojit vs Zerodha

ParticularsGeojitZerodha
TypeFull-Service BrokerDiscount Broker
Other Products & ServicesInsurance
Portfolio Management Services
Financial Planning
None
Brokerage ChargesDetails for Geojit (Online Trading)Details for Zerodha Plan
Equity delivery0.30%Rs. 0
Equity Intraday0.03%Lower of Rs. 20 per executed order or 0.03%
Equity Futures0.03%Lower of Rs. 20 per executed order or 0.03%
Currency Futures Up to Rs. 15.00 (both sides) depending on the currency pairsLower of Rs. 20 per executed order or 0.03%
Commodity Futures0.05%Lower of Rs. 20 per executed order or 0.03%
Equity OptionsRs. 75 per lotRs. 20 per executed order 
Index OptionsRs. 50 per lotRs. 20 per executed order 
Currency OptionsOnly for USD-INR: Rs. 10 per lot (on both sides)Lower of Rs. 20 per executed order or 0.03%
Commodity OptionsRs.150 per lotLower of Rs. 20 per executed order or 0.03%
Margin for IntradayDetails for GeojitDetails for Zerodha Plan
Equity DeliveryInformation not availableNo leverage
Equity Intraday (MIS)Information not available3 to 12.5 times depending on the scrip
Index FuturesInformation not availableMargin required is 35% of the normal margin i.e. 2.857X
Stock FuturesInformation not availableMargin required is 45% of the normal margin i.e. 2.222X
Index Option SellInformation not availableMargin required is 35% of the normal margin i.e. 2.857X
Stock Option Sell Information not availableMargin required is 45% of the normal margin i.e. 2.222X
Currency Futures (MIS)Information not available50% of the normal margin i.e. 2X
Selling Currency Options (MIS)Information not available50% of the normal margin i.e. 2X
Commodity/ MCX FuturesInformation not available50% of the normal margin i.e. 2X
Margin for OC/ OCODetails for GeojitDetails for Zerodha Plan
Equity IntradayDo not disclose on the websiteDoes not disclose upfront. Need to use a margin calculator 
Account Opening ChargesGeojitZerodha 
Demat & Trading AccountRs. 0Charges for Demat & Trading account is clubbed – Rs.200
Demat AMC FeesRs. 600Rs. 300
Commodity AccountRs. 0Rs. 100
Trading PlatformsSelfie GoldSelfie PlatinumZerodha Kite 3.0Zerodha PI
Trading AppSelfie Mobile AppKite Mobile App

Zerodha Demat Account 

Zerodha demat account

Zerodha Broking Ltd is a member of NSE and BSE and accounts for 15% of all the retail order volumes in India. The stockbroker charges a Rs. 20 brokerage.

The commodity trading is offered through Zerodha Commodities Pvt Ltd. You need to open a commodity trading account separately.  But one can trade both stocks and commodities using Kite 3.0 platform.

Brokerage Charges

Zerodha does not have different plans for traders and investors. The brokerages charges are under: 

Trading TypeBrokerage Charges
Equity DeliveryRs. 0
Equity IntradayLower of Rs. 20 per executed order or 0.03%
Equity FuturesLower of Rs. 20 per executed order or 0.03%
Equity OptionsRs. 20 per executed order 
Currency Futures and OptionsLower of Rs. 20 per executed order or 0.03%
Commodity F&OLower of Rs. 20 per executed order or 0.03%

In case if you need any value-added services like providing Stock reports, Screeners, and  Smallcase then you need to pay for it. Below are the fee details:

Zerodha-Charges-for-value-added-services-1

Margin Provided

The Margin for Intraday (MIS) is as under;

SegmentMargin
Equity DeliveryNo Margin
Intraday Equity3 to 12.5 times depending on the scrip
Index FuturesMargin required is 35% of the normal margin (NRML) 
Equity FuturesMargin required is 45% of the normal margin (NRML) 
Index Option WritingMargin required is 35% of the normal margin (NRML) 
Stock Option WritingMargin required is 45% of the normal margin (NRML) 
Currency Futures & Option Writing 50% of the normal margin (NRML) 
Commodity Futures & Option Writing50% of the normal margin (NRML)

But before trading, you can look for the exact scrip margin on the Margin Calculator. 

However, the BO/CO margin details are not available on the website, at the best you can use their BO&CO margin calculators

Like if you want to place a CO  (sell) for the scrip Asian Paints,  then you need to indicate the quantity, price, and stop-loss price. 

Click the “Calculate” tab and the BO&CO calculator will show the required margin.

zerodha  BO&CO calculator

Account Opening Charges 

ParticularsCharges
Trading and Demat account opening chargesRs. 200
Commodity AccountRs. 100
Trading account annual maintenance chargesRs. 0
Demat account annual maintenance chargesRs. 300
Offline Account OpeningAdditional Rs. 300 is charged

Best For

Zerodha is best for regular traders who don’t need a large margin and don’t want to pay high brokerage.

Pros 

  • No brokerage charges for delivery.
  • Fixed & low brokerage irrespective of trade volume.
  • No minimum balance required to open and maintain the account.

Cons

  • Frequent delays and service down during trading hours.
  • The margin provided is low as compared to other discount brokers
  • Does not upfront discloses margin for CO & BO trades 

Also read – Ventura vs Zerodha Comparison

Geojit Demat Account 

Geojit demat account

Geojit is a  full-service stockbroking company with 30+ years of industry presence and range of trading, investment, PMS, Insurance, and financial services. 

The brokerage house manages Rs. 37,160 Crores of clients assets and has a network of 460 offices in India. 

Brokerage Charges

Geojit allows you to trade through online and offline modes. The brokerage charges are different under both modes.

Equity Segment

Delivery Brokerage (Offline)Intraday Daily Volume
(Offline)
Intraday Daily Brokerage
(Offline)
Delivery Brokerage
(Online)
Intraday Brokerage
(Online)
0.50%Rs. 0 – 25 Lakhs0.05%0.30%0.03%
Rs. 25-50 Lakhs0.04%
Rs. 50 Lakhs – 1 Cr0.035%
Rs. 1 Cr and above0.03%

Derivatives (Offline Trades)

Stock Futures Daily VolumeStock Futures BrokerageIndex Futures Daily VolumeIndex Futures Brokerage
Rs. 0 – 25 Lakhs0.05%Rs. 0 – 10 Lakhs0.05%
Rs. 25-50 Lakhs0.04%Rs. 10-50 Lakhs0.04%
Rs. 50 Lakhs -1 Cr0.035%Rs. 50 Lakhs – 2 Cr0.03%
Rs. 1 Cr and above0.03%Rs. 2 Cr – 5 Cr0.025%
Rs. 5 Cr and above0.020%

Options (Intraday Trade): Rs. 150 per lot 

Currency 

InstrumentSymbolBrokerage per lot
FUTCUREURINRRs. 12.50 on both sides
FUTCURGBPINRRs. 15.00 on both sides
FUTCURJPYINRRs. 10.00 on both sides
FUTCUR & OPTCURUSDINRRs. 10.00 on both sides

Derivatives (Online Trades)

FuturesOptions IndexOptions StockCurrency
0.03%Rs. 50 per lotRs. 75 per lotSame as offline

Commodity Trading Brokerages

ParticularsIntraday (each leg)
Commodity Derivatives0.05%
Commodity OptionsRs. 150 per lot

SMS Trading recommendation Rs. 100 per month

Margin Provided

Geojit does not disclose the margin details upfront on its website. 

The exact margin details are made available in the trading terminals. So, one can find exact margins before trading from the trading platform itself.

Few details related to margins that I could find are under:

The Scrip Margin is taken as the Exchange VAR Margin excluding ELM subject to the following conditions: 

  • For Nifty shares, 50% of VAR Margin subject to a minimum of 10%
  • For Junior Nifty shares, 50% of VAR Margin subject to a minimum of 15%
  • For Trade to Trade and illiquid scrips – 100% margin
  • For all other scrips, VAR margin is subject to the minimum of 15% and a maximum of 30%

For Derivative segments, CD and F&O the margin is at par with that of the  exchange. 

Account Opening Charges 

ParticularsCharges
Account opening Charges (Demat & Trading)NIL
Annual Maintenance Charges
Resident AccountsRs. 600
Resident Accounts using electroniccommunication (DCN)Rs. 450(For new clients, the first FY AMC will beRs.600)

Best For

Geojit is best for traders/ investors looking for alternatives to other costly full-service stockbrokers like ICICI Direct. 

Pros 

  • 0.30% brokerage fee for online delivery trade
  • Insurance, PMS, Equity SIP, financial planning products
  • Different brokerages for online & offline trades 

Cons

  • Margin details are not disclosed 
  • Currency derivatives brokerage based on currency pairs

Also read – Edelweiss vs Zerodha Comparison

Conclusion

Both the stockbrokers Zerodha and Geojit work on different business models. So, you should know your trading/ investing needs before you think of choosing one of the brokers.  

If you trade high volume and do not require advisory or other support then Zerodha is a better option between the two.

But, if you are looking for value-added services or looking for a replacement to your existing full-service stockbroker then you should pick Geojit.