Bajaj Broking vs Zerodha
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Bajaj Broking
VS
Zerodha
Bajaj Broking vs Zerodha — quick verdict
Choose Bajaj Broking if
You want research and offline support
Bajaj Broking Review 2026 — Explore flexible brokerage plans, research-backed stock ideas, advanced trading tools, MTF, IPOs and multi-asset investing.
Choose Zerodha if
You want low-cost, self-directed trading
Zerodha is a SEBI-registered stock broker offering equity, F&O, currency, and commodity trading through its Kite platform, with ₹0 delivery brokerage.
Company overview
Bajaj Broking is a full-service broker incorporated in 2010; Zerodha is a discount broker incorporated in 2010.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Type of broker | Full-Service Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 2010 | 2010 |
| Number of branches | 45+ branches across 40+ locations, accor wider | 0 |
| Active clients | Approximately 6 lakh as of 31 December 2 larger | ~1.6 crore |
Charges & AMC
Account-opening and maintenance charges for Bajaj Broking and Zerodha compared side by side.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Trading a/c opening | ₹0 | ₹200 (Online) |
| Trading a/c AMC | ₹0 | ₹0 (Free) |
| Demat a/c opening | ₹0 | ₹0 (Free) |
| Demat a/c AMC | ₹0 (via plans) lower | ₹300 |
| DP charges (per ISIN, sell) | ₹30 per ISIN per debit transaction | ₹13.5 + GST per debit lower |
Brokerage charges
How Bajaj Broking and Zerodha price each trading segment, per executed order.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Equity Delivery | ₹20/order | ₹0 (Free) |
| Equity Intraday | ₹20/order | ₹20 or 0.03% (lower) |
| Equity Futures | ₹20/order | ₹20 or 0.03% (lower) |
| Equity Options | ₹20/order | ₹20 / order |
| Currency F&O | ₹20 per order | ₹20 or 0.03% (lower) |
| Commodity F&O | ₹20 per order | ₹20 or 0.03% (lower) |
| Call & Trade | Included / supported | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Bajaj Broking and Zerodha, per segment.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Equity Delivery | NSE ₹297 per Cr (0.00297%) | BSE ₹375 per Cr (0.00375%) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Intraday | NSE ₹297 per Cr (0.00297%) | BSE ₹375 per Cr (0.00375%) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Futures | NSE ₹173 per Cr (0.00173%) | BSE ₹0 | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE ₹3503 per Cr (0.03503%) | BSE ₹325 per Cr (0.00325% on premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 275 per Cr (on premium) |
| Currency Futures | NSE ₹35 per Cr (0.00035%) | BSE ₹45 per Cr (0.00045%) | NSE Rs 90 per Cr (0.0009%) | BSE Rs 45 per Cr |
Demat & DP charges
Depository (demat) charges for Bajaj Broking and Zerodha — AMC, debit transactions, pledging and remat.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Demat Account Opening | ₹0 | — |
| Transaction Charges (Sell) | ₹30 or 0.0002% of transaction value, whichever is higher, plus applicable taxes, as listed for off-market transfers; confirm the applicable delivery DP charge separately | Rs 13.5 + GST per scrip (per day) |
| Annual Maintenance Charges (AMC) | ₹0 under the published standard fee schedule; verify plan-specific conditions | Rs 300 + GST per year (Rs 75 + GST per quarter) |
| Pledge / Unpledge / Closure / Invocation | ₹35 plus applicable taxes | — |
| Physical CMR/DIS | First request free; subsequent requests ₹50 plus ₹100 courier charges and applicable taxes | — |
| Dematerialisation | Official fee schedule lists ₹50 per request plus ₹50 per certificate; verify the current tariff | — |
| Rematerialisation | ₹35 per certificate or per 100 shares, whichever is higher, plus applicable charges | — |
| Failed Transactions | Not verified | Nil |
| Demat Account Opening Charges | — | Rs 0 (Free) |
| Pledge Creation / Invocation | — | Rs 30 + GST per request |
| Remat | — | Rs 150 + GST per certificate + CDSL charges |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Bajaj Broking and Zerodha.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Equity Delivery | Generally 100% of the trade value unless an eligible facility applies (1x without borrowing) | 100% of trade value (1x) |
| Equity Intraday | Depends on the stock, risk controls and applicable exchange margin requirements (Not fixed; depends on available margin) | Up to 20% of trade value (Up to 5x) |
| Equity Futures | Exchange-prescribed SPAN and exposure margin requirements apply (Not fixed) | 100% NRML (Span + Exposure) (1x) |
| Equity Options | Depends on the contract, position and applicable margin requirements (Not fixed) | — |
| Margin Trading Facility (MTF) | Subject to eligible securities, funding limits and the applicable plan (Bajaj Broking advertises up to 4x buying power on eligible stocks; actual limits vary) | — |
Features & account
Account type and feature availability across Bajaj Broking and Zerodha.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| 3-in-1 account | ✓ Yes better | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes better | ✕ No |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Bajaj Broking Trading App, Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs. | Kite, Console, Coin, Kite Connect |
| Intraday square-off | 3:20 PM | 3:20 PM |
| Other | Margin Trading Facility (MTF) up to 365 days, expert research reports, zero account opening fees. | GTT orders, Coin (free direct mutual funds), Varsity education. No MTF, Bracket or Cover orders. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Bajaj Broking and Zerodha.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Trading platforms offered | Bajaj Broking Trading App, Bajaj Broking Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs | Kite, Console, Coin |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | Bajaj Broking Trading App, Web Platform, NEST Trading Workstation (TWS), Bajaj Broking APIs. | Kite, Console, Coin, Kite Connect |
| Mobile / desktop apps | Mobile, Web, Desktop / Trading Terminal, API / Integration | Web + Mobile, Web, Mobile |
User ratings
User ratings for Bajaj Broking and Zerodha across the key parameters.
| Rated on | Bajaj Broking | Zerodha |
|---|---|---|
| Fees | 4.4 | 4.5 better |
| Brokerage | 4.3 | 4.6 better |
| Trading platform | 4.2 | 4.6 better |
| Customer service | 4 better | 3.8 |
| Research | 4.5 better | 3.6 |
| Overall | 4.2 | 4.5 better |
Investment options
Which investment products Bajaj Broking and Zerodha let you access.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Bajaj Broking and Zerodha.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for Bajaj Broking and Zerodha.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| SEBI registration | INZ000218931 | INZ000031633 |
| NSE member code | 90177 (NSE member ID) | 13179 |
| Year of incorporation | 2010 | 2010 |
| Net worth | ₹2,037 crore as of December 2025, according to CRISIL Rating stronger | ₹13,000+ Cr |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.11% | 0.030% fewer complaints |
Complaints record
Exchange complaint data for Bajaj Broking and Zerodha — the ratio matters more than the raw count.
| Parameter | Bajaj Broking | Zerodha |
|---|---|---|
| Latest financial year | 2025–26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 59,995 | 80,12,000 larger base |
| Complaints filed | 67 | 2,400 |
| Complaint ratio | 0.11% | 0.030% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Bajaj Broking
▲ Pros
- ✓ Multiple brokerage plans to suit different trading requirements.
- ✓ ₹10-per-order brokerage advertised for eligible segments under the Professional Pack.
- ✓ Online demat and trading account opening.
- ✓ Access to equity, derivatives, IPOs, mutual funds and bonds.
- ✓ Margin Trading Facility with plan-dependent interest rates.
- ✓ Research-backed stock ideas and market insights.
- ✓ Trading APIs with order-management and market-feed capabilities.
- ✓ Advanced charting, watchlists, screeners and trading tools.
- ✓ Access to investment calculators for brokerage, margin and other financial calculations.
▼ Cons
- ✕ The lowest advertised brokerage requires selecting the applicable paid subscription plan.
- ✕ The Professional Pack has an annual subscription cost.
- ✕ The Freedom Pack's subscription is free for the first year but costs ₹431 annually from the second year.
- ✕ MTF involves interest costs, eligibility requirements and market risk.
- ✕ Brokerage and statutory charges can make the total trading cost higher than the headline per-order fee.
- ✕ Users who rely on API or algorithmic trading may need to understand integration requirements and trading-related risks.
- ✕ Current support response times and service-quality ratings have not been independently verified.
- ✕ Detailed exchange transaction fees should be checked against the current tariff before comparing costs.
Zerodha
▲ Pros
- ✓ Free (₹0) equity delivery investing.
- ✓ Clean, fast and reliable Kite web & mobile platform.
- ✓ GTT (Good Till Triggered) orders and Coin for free direct mutual funds.
- ✓ Strong educational content through Varsity.
- ✓ India's largest retail broker — bootstrapped, profitable and debt-free.
- ✓ Transparent flat pricing with no hidden charges.
▼ Cons
- ✕ No MTF / margin funding (pay-later) facility.
- ✕ No 3-in-1 account and no Bracket or Cover orders.
- ✕ No in-house stock research, tips or relationship manager.
- ✕ Support is largely ticket-based; no branch network.
- ✕ ₹200 account opening charge and ₹50 Call & Trade fee.
- ✕ Occasional load on the platform during high-volatility sessions.
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