Kotak Neo vs Zerodha
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Kotak Neo
VS
Zerodha
Kotak Neo vs Zerodha — quick verdict
Choose Kotak Neo if
You want research and offline support
One of India's oldest stock broking companies, offering full-fledged investment services across asset classes through a single-login platform.
Choose Zerodha if
You want low-cost, self-directed trading
India's largest discount broker — ₹0 equity delivery, flat ₹20 intraday/F&O and the clean, reliable Kite platform.
Company overview
Kotak Neo is a full-service broker incorporated in 1994; Zerodha is a discount broker incorporated in 2010.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Type of broker | Full-Service Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX | NSE · BSE · MCX |
| Year of incorporation | 1994 older | 2010 |
| Number of branches | 1,500+ Branches & Customer Touchpoints wider | 0 |
| Active clients | 15+ Lakh (Approx.) | ~1.6 crore larger |
Charges & AMC
Account-opening and maintenance charges for Kotak Neo and Zerodha compared side by side.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Trading a/c opening | ₹0 (Online) | ₹200 (Online) |
| Trading a/c AMC | ₹0 | ₹0 (Free) |
| Demat a/c opening | ₹0 | ₹0 (Free) |
| Demat a/c AMC | As per applicable tariff plan | ₹300 |
| DP charges (per ISIN, sell) | ₹13.5 + GST per debit | ₹13.5 + GST per debit |
Brokerage charges
How Kotak Neo and Zerodha price each trading segment, per executed order.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Equity Delivery | ₹0 (Free) | ₹0 (Free) |
| Equity Intraday | ₹20 or 0.03% (lower) | ₹20 or 0.03% (lower) |
| Equity Futures | ₹20 or 0.03% (lower) | ₹20 or 0.03% (lower) |
| Equity Options | ₹20/order | ₹20 / order |
| Currency F&O | ₹20 or 0.03% (lower) | ₹20 or 0.03% (lower) |
| Commodity F&O | ₹20 or 0.03% (lower) | ₹20 or 0.03% (lower) |
| Call & Trade | +₹50/order | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Kotak Neo and Zerodha, per segment.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Equity Delivery | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Intraday | NSE ₹297 per Crore (0.00297%) | BSE ₹297 per Crore (0.00297%) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Futures | NSE ₹173 per Crore (0.00173%) | BSE ₹173 per Crore (0.00173%) | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE ₹3,503 per Crore of premium (0.03503%) | BSE ₹3,250 per Crore of premium (0.0325%) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 275 per Cr (on premium) |
| Currency Futures | NSE ₹35 per Crore (0.00035%) | BSE ₹35 per Crore (0.00035%) | NSE Rs 90 per Cr (0.0009%) | BSE Rs 45 per Cr |
| Currency Options | NSE ₹3,100 per Crore of premium (0.0311%) | BSE ₹1,000 per Crore of premium (0.01%) | — |
| Commodity Futures | MCX ₹260 per Crore (0.00260%) | — |
| Commodity Options | MCX ₹5,000 per Crore of premium (0.05%) | — |
Demat & DP charges
Depository (demat) charges for Kotak Neo and Zerodha — AMC, debit transactions, pledging and remat.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Demat Opening | ₹0 | — |
| Transaction Charges | ₹13.5 + GST | — |
| AMC | ₹300 + GST | — |
| Pledge | ₹30 + GST | — |
| Remat | ₹150 + GST | Rs 150 + GST per certificate + CDSL charges |
| Nil | Nil | — |
| Demat Account Opening Charges | — | Rs 0 (Free) |
| Transaction Charges (Sell) | — | Rs 13.5 + GST per scrip (per day) |
| Annual Maintenance Charges (AMC) | — | Rs 300 + GST per year (Rs 75 + GST per quarter) |
| Pledge Creation / Invocation | — | Rs 30 + GST per request |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Kotak Neo and Zerodha.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | As per SEBI peak margin norms (Up to 5x (eligible stocks)) | Up to 20% of trade value (Up to 5x) |
| F&O (Eq/Curr/Comm) | SPAN + Exposure Margin (1x) | 100% NRML (Span + Exposure) (1x) |
Features & account
Account type and feature availability across Kotak Neo and Zerodha.
| Parameter | Kotak Neo | 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 | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | Kite, Console, Coin, Kite Connect |
| Intraday square-off | 3:15 PM | 3:20 PM |
| Other | Advanced charting, basket orders, option chain, Trading API, research reports, Smart Orders, eMargin, MTF, IPO and mutual fund investments. | 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 Kotak Neo and Zerodha.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Trading platforms offered | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | Kite, Console, Coin |
| Number of platforms | 4 more choice | 3 |
| Platforms (summary) | Kotak Neo Web, Kotak Neo App, Kotak Stock Trader (Nest), Kotak Neo API | Kite, Console, Coin, Kite Connect |
| Mobile / desktop apps | Web, Android & iOS, Desktop, API | Web + Mobile, Web, Mobile |
User ratings
User ratings for Kotak Neo and Zerodha across the key parameters.
| Rated on | Kotak Neo | Zerodha |
|---|---|---|
| Fees | 4.4 | 4.5 better |
| Brokerage | 4.5 | 4.6 better |
| Trading platform | 4.7 better | 4.6 |
| Customer service | 4.3 better | 3.8 |
| Research | 4.4 better | 3.6 |
| Overall | 4.4 | 4.5 better |
Investment options
Which investment products Kotak Neo and Zerodha let you access.
| Parameter | Kotak Neo | 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 Kotak Neo and Zerodha.
| Parameter | Kotak Neo | 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 Kotak Neo and Zerodha.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| SEBI registration | INZ000200137 | INZ000031633 |
| NSE member code | 08081 | 13179 |
| Year of incorporation | 1994 longer track record | 2010 |
| Net worth | ₹5,000+ Crore (Approx.) | ₹13,000+ Cr stronger |
| Exchange memberships | NSE · BSE · MCX | NSE · BSE · MCX |
| Latest complaint ratio | 0.034% | 0.030% fewer complaints |
Complaints record
Exchange complaint data for Kotak Neo and Zerodha — the ratio matters more than the raw count.
| Parameter | Kotak Neo | Zerodha |
|---|---|---|
| Latest financial year | 2025-26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 15,40,000+ | 80,12,000 larger base |
| Complaints filed | 520 | 2,400 |
| Complaint ratio | 0.034% | 0.030% fewer complaints |
Pros & cons
The main advantages and drawbacks of each broker.
Kotak Neo
▲ Pros
- ✓ Trusted full-service broker backed by Kotak Mahindra Bank.
- ✓ Low brokerage plans for active traders.
- ✓ Advanced Kotak Neo web and mobile trading platforms.
- ✓ Investment in Stocks, IPOs, Mutual Funds, ETFs and Bonds from one account.
- ✓ Research reports, market insights and investment recommendations.
- ✓ API support for algo trading.
- ✓ Easy online account opening with Aadhaar-based eKYC.
- ✓ Multiple order types with advanced charting tools.
▼ Cons
- ✕ Demat AMC may apply depending on the selected plan.
- ✕ Call & Trade service is chargeable.
- ✕ Margin Trading Facility (MTF) is available only for eligible stocks.
- ✕ Some advanced features are available only under specific plans.
- ✕ Research and advisory offerings may vary across customer plans.
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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