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
|Type||Full-Service Broker||Discount Broker|
|Other Products & Services||Insurance|
Portfolio Management Services
|Brokerage Charges||Details for Geojit (Online Trading)||Details for Zerodha Plan|
|Equity delivery||0.30%||Rs. 0|
|Equity Intraday||0.03%||Lower of Rs. 20 per executed order or 0.03%|
|Equity Futures||0.03%||Lower of Rs. 20 per executed order or 0.03%|
|Currency Futures||Up to Rs. 15.00 (both sides) depending on the currency pairs||Lower of Rs. 20 per executed order or 0.03%|
|Commodity Futures||0.05%||Lower of Rs. 20 per executed order or 0.03%|
|Equity Options||Rs. 75 per lot||Rs. 20 per executed order|
|Index Options||Rs. 50 per lot||Rs. 20 per executed order|
|Currency Options||Only for USD-INR: Rs. 10 per lot (on both sides)||Lower of Rs. 20 per executed order or 0.03%|
|Commodity Options||Rs.150 per lot||Lower of Rs. 20 per executed order or 0.03%|
|Margin for Intraday||Details for Geojit||Details for Zerodha Plan|
|Equity Delivery||Information not available||No leverage|
|Equity Intraday (MIS)||Information not available||3 to 12.5 times depending on the scrip|
|Index Futures||Information not available||Margin required is 35% of the normal margin i.e. 2.857X|
|Stock Futures||Information not available||Margin required is 45% of the normal margin i.e. 2.222X|
|Index Option Sell||Information not available||Margin required is 35% of the normal margin i.e. 2.857X|
|Stock Option Sell||Information not available||Margin required is 45% of the normal margin i.e. 2.222X|
|Currency Futures (MIS)||Information not available||50% of the normal margin i.e. 2X|
|Selling Currency Options (MIS)||Information not available||50% of the normal margin i.e. 2X|
|Commodity/ MCX Futures||Information not available||50% of the normal margin i.e. 2X|
|Margin for OC/ OCO||Details for Geojit||Details for Zerodha Plan|
|Equity Intraday||Do not disclose on the website||Does not disclose upfront. Need to use a margin calculator|
|Account Opening Charges||Geojit||Zerodha|
|Demat & Trading Account||Rs. 0||Charges for Demat & Trading account is clubbed – Rs.200|
|Demat AMC Fees||Rs. 600||Rs. 300|
|Commodity Account||Rs. 0||Rs. 100|
|Trading Platforms||Selfie GoldSelfie Platinum||Zerodha Kite 3.0Zerodha PI|
|Trading App||Selfie Mobile App||Kite Mobile App|
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.
Zerodha does not have different plans for traders and investors. The brokerages charges are under:
|Trading Type||Brokerage Charges|
|Equity Delivery||Rs. 0|
|Equity Intraday||Lower of Rs. 20 per executed order or 0.03%|
|Equity Futures||Lower of Rs. 20 per executed order or 0.03%|
|Equity Options||Rs. 20 per executed order|
|Currency Futures and Options||Lower of Rs. 20 per executed order or 0.03%|
|Commodity F&O||Lower 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:
The Margin for Intraday (MIS) is as under;
|Equity Delivery||No Margin|
|Intraday Equity||3 to 12.5 times depending on the scrip|
|Index Futures||Margin required is 35% of the normal margin (NRML)|
|Equity Futures||Margin required is 45% of the normal margin (NRML)|
|Index Option Writing||Margin required is 35% of the normal margin (NRML)|
|Stock Option Writing||Margin required is 45% of the normal margin (NRML)|
|Currency Futures & Option Writing||50% of the normal margin (NRML)|
|Commodity Futures & Option Writing||50% 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.
Account Opening Charges
|Trading and Demat account opening charges||Rs. 200|
|Commodity Account||Rs. 100|
|Trading account annual maintenance charges||Rs. 0|
|Demat account annual maintenance charges||Rs. 300|
|Offline Account Opening||Additional Rs. 300 is charged|
Zerodha is best for regular traders who don’t need a large margin and don’t want to pay high brokerage.
- No brokerage charges for delivery.
- Fixed & low brokerage irrespective of trade volume.
- No minimum balance required to open and maintain the account.
- 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 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.
Geojit allows you to trade through online and offline modes. The brokerage charges are different under both modes.
|Delivery Brokerage (Offline)||Intraday Daily Volume|
|Intraday Daily Brokerage|
|0.50%||Rs. 0 – 25 Lakhs||0.05%||0.30%||0.03%|
|Rs. 25-50 Lakhs||0.04%|
|Rs. 50 Lakhs – 1 Cr||0.035%|
|Rs. 1 Cr and above||0.03%|
Derivatives (Offline Trades)
|Stock Futures Daily Volume||Stock Futures Brokerage||Index Futures Daily Volume||Index Futures Brokerage|
|Rs. 0 – 25 Lakhs||0.05%||Rs. 0 – 10 Lakhs||0.05%|
|Rs. 25-50 Lakhs||0.04%||Rs. 10-50 Lakhs||0.04%|
|Rs. 50 Lakhs -1 Cr||0.035%||Rs. 50 Lakhs – 2 Cr||0.03%|
|Rs. 1 Cr and above||0.03%||Rs. 2 Cr – 5 Cr||0.025%|
|Rs. 5 Cr and above||0.020%|
Options (Intraday Trade): Rs. 150 per lot
|Instrument||Symbol||Brokerage per lot|
|FUTCUR||EURINR||Rs. 12.50 on both sides|
|FUTCUR||GBPINR||Rs. 15.00 on both sides|
|FUTCUR||JPYINR||Rs. 10.00 on both sides|
|FUTCUR & OPTCUR||USDINR||Rs. 10.00 on both sides|
Derivatives (Online Trades)
|Futures||Options Index||Options Stock||Currency|
|0.03%||Rs. 50 per lot||Rs. 75 per lot||Same as offline|
Commodity Trading Brokerages
|Particulars||Intraday (each leg)|
|Commodity Options||Rs. 150 per lot|
SMS Trading recommendation Rs. 100 per month
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
|Account opening Charges (Demat & Trading)||NIL|
|Annual Maintenance Charges|
|Resident Accounts||Rs. 600|
|Resident Accounts using electroniccommunication (DCN)||Rs. 450(For new clients, the first FY AMC will beRs.600)|
Geojit is best for traders/ investors looking for alternatives to other costly full-service stockbrokers like ICICI Direct.
- 0.30% brokerage fee for online delivery trade
- Insurance, PMS, Equity SIP, financial planning products
- Different brokerages for online & offline trades
- Margin details are not disclosed
- Currency derivatives brokerage based on currency pairs
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.