Why you should choose Zerodha as your broker?
But choosing the right broker is quite a difficult task. With the recent trends, people are choosing discount brokers over traditional one's.
Now, who is a discount broker? A discount broker is a stockbroker whose online presence is more rather than maintaining physical offices. The brokerage charges and AMC is very less compared to the traditional brokers like HDFC Securities, Motilal Oswal etc.
In discount brokers, there are again many players like Zerodha, Upstox, 5 Paisa etc.
Zerodha is the pioneer of discount brokerage and it was founded in 2010 by Sir Nithin Kamath and Nikhil Kamath.
They started from scratch and in these 11 years, Zerodha has become India's largest brokerage firm with 7.5+ million active clients.
The interesting part is that they never spent a single penny on advertisements. All the clients are organic and come from word of mouth.
Now let's get into the topic of why you should choose Zerodha as your broker?
• Zero debt company- Zerodha is a bootstrapped business which means they haven't raised any external fundings from VCs or angel investors. They have started with their capital and they don't have any debts. A company with zero debt is a good sign.
• Better UI- They have many platforms like Kite, Coin, Console etc. Nowadays people don't just go for less brokerage but they want an app or portal with a better user interface.
Their User Interface is very simple and easy to understand and that's the goal of a good user experience that is easy to use and understandable to the end-users.
• Nudge initiative- They are the one's who started this nudge initiative which helps the clients to stay aware of illiquid stocks, risks of BTST trades, circuits limits etc.
Traditional brokers will never show you this because it will impact their brokerages from you. Zerodha's main goal is to educate the clients and make them aware so the client doesn't lose their capital unnecessarily.
• Educational initiatives- Like I mentioned in the previous point. Their goal is to educate the people. They have a Varsity application and you can also read on the web as well it is open for all. It helps you understand the stock market in a very simple way with better examples.
If there's any new update that can affect the client's trading or investment then they also have the Z- Connect to share the latest information. Also, they share their latest product updates on the same portal.
Apart from this, they have a Trading Q&A platform which is India's largest trading community. In this, you can ask your question related to the stock market and also you can post your answers If you know about the topic or question.
Also, they have a Support portal in which you can find almost everything which you need to know about your account, trades, investments etc. You can also create a ticket If you don't find the answer helpful then their support team will assist you.
• Loads of features- They provides the latest features and updates which no broker can compete with.
Below are some features:
a) GTT for placing long-standing orders. You can also put stop loss as well as a target for your existing holdings.
b) Basket orders to execute your F&O strategies and also you can execute your basket of stocks in one shot.
c) Level 3 data or 20 market depth helps you get the in-depth data of any particular stock. You can view the 20 bids and offers. This is a premium feature but they are providing it for free.
d) You can gift stocks to your family members or friends. This is the best gift which you can give someone :)
e) Online nominee addition is possible now, many people open the Demat accounts but they always forget to add nominees for their accounts. Zerodha is also alerting clients to add a nominee.
• Console back-office- With better trading and investment platforms, they also have a very good back office. You can download all the reports like trade books, P&L, Tax P&L etc very efficiently.
Also, you can see the visualization of your holdings with pie charts.
• Products as per clients needs- They offer a wide range of partner products like Sensibull for options trading, Streak for algo based trading which is semi-automated, Small case for investments.
Also, they have their in-house Coin platform for direct mutual funds, NFOs, G-Sec, SGBs, Corporate bonds etc.
I guess I have given enough valid reasons to choose Zerodha. Now the final call is up to you ;)
See y'all in the next blog, Cheers!
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