Paytm Money Limited vs Zerodha
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Paytm Money Limited
VS
Zerodha
Paytm Money Limited vs Zerodha — quick verdict
Choose Paytm Money Limited if
You want low-cost, self-directed trading
Invest in stocks, F&O, mutual funds and IPOs with zero lifetime AMC and a technology-first trading 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
Paytm Money Limited is a discount broker incorporated in 2017; Zerodha is a discount broker incorporated in 2010.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Type of broker | Discount Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX · NCDEX · MSEI | NSE · BSE · MCX |
| Year of incorporation | 2017 | 2010 older |
| Number of branches | 0 | 0 |
| Active clients | 21 Million+ Users* | ~1.6 crore larger |
Charges & AMC
Account-opening and maintenance charges for Paytm Money Limited and Zerodha compared side by side.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Trading a/c opening | ₹0 (Free) | ₹200 (Online) |
| Trading a/c AMC | ₹0 | ₹0 (Free) |
| Demat a/c opening | ₹0 (Free) | ₹0 (Free) |
| Demat a/c AMC | ₹0 (Lifetime Free) lower | ₹300 |
| DP charges (per ISIN, sell) | ₹20 per debit transaction | ₹13.5 + GST per debit lower |
Brokerage charges
How Paytm Money Limited and Zerodha price each trading segment, per executed order.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Equity Delivery | ₹20 per executed order | ₹0 (Free) |
| Equity Intraday | ₹20 per executed order | ₹20 or 0.03% (lower) |
| Equity Futures | ₹20 per executed order or 0.02% (whichever is lower) | ₹20 or 0.03% (lower) |
| Equity Options | ₹20 per executed order | ₹20 / order |
| Currency F&O | ₹20 per executed order | ₹20 or 0.03% (lower) |
| Commodity F&O | ₹20 per executed order | ₹20 or 0.03% (lower) |
| Call & Trade | ₹50 per executed order | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Paytm Money Limited and Zerodha, per segment.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Equity Delivery | NSE: 0.00297% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Intraday | NSE: 0.00297% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Futures | NSE: 0.00173% | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE: 0.03503% (on premium) | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 275 per Cr (on premium) |
| Currency Futures | NSE: 0.00035% | NSE Rs 90 per Cr (0.0009%) | BSE Rs 45 per Cr |
| Currency Options | NSE: 0.0311% (on premium) | — |
| Commodity Futures | MCX: 0.00210% | — |
| Commodity Options | MCX: 0.04180% (on premium) | — |
Demat & DP charges
Depository (demat) charges for Paytm Money Limited and Zerodha — AMC, debit transactions, pledging and remat.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Demat Account Opening | ₹0 | — |
| Annual Maintenance Charges (AMC) | ₹0 (Lifetime Free) | Rs 300 + GST per year (Rs 75 + GST per quarter) |
| Debit Transaction Charges | ₹20 per sell transaction | — |
| Pledge / Unpledge Charges | ₹20 per transaction (Margin pledge/unpledge as per current tariff) | — |
| Dematerialisation (Demat) | ₹250 per certificate / per scheme | — |
| Rematerialisation (Remat) | ₹250 per certificate / per scheme | — |
| Failed Transactions | Nil | Nil |
| Demat Account Opening Charges | — | Rs 0 (Free) |
| Transaction Charges (Sell) | — | Rs 13.5 + GST per scrip (per day) |
| 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 Paytm Money Limited and Zerodha.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | VAR + ELM Margin (Up to 5x) | Up to 20% of trade value (Up to 5x) |
| Equity Futures | SPAN + Exposure Margin (As per available margin) | 100% NRML (Span + Exposure) (1x) |
| Equity Options (Buy) | Premium Value (Not Applicable) | — |
| Equity Options (Sell) | SPAN + Exposure Margin (As per available margin) | — |
| Currency Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
| Commodity Futures & Options | SPAN + Exposure Margin (As per available margin) | — |
Features & account
Account type and feature availability across Paytm Money Limited and Zerodha.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes better | ✕ No |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Paytm Money Web, Paytm Money App | Kite, Console, Coin, Kite Connect |
| Intraday square-off | 3:15 PM | 3:20 PM |
| Other | TradingView Charts, Basket Orders, Option Chain, Stock SIP, Price Alerts, ETF Investing, NPS, Margin Trading Facility (MTF), eDIS | 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 Paytm Money Limited and Zerodha.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Trading platforms offered | Paytm Money Web, Paytm Money App, TradingView Charts | Kite, Console, Coin |
| Number of platforms | 3 | 3 |
| Platforms (summary) | Paytm Money Web, Paytm Money App | Kite, Console, Coin, Kite Connect |
| Mobile / desktop apps | Web, Mobile, Integrated Charting | Web + Mobile, Web, Mobile |
User ratings
User ratings for Paytm Money Limited and Zerodha across the key parameters.
| Rated on | Paytm Money Limited | Zerodha |
|---|---|---|
| Fees | 4.8 better | 4.5 |
| Brokerage | 4.8 better | 4.6 |
| Trading platform | 4.5 | 4.6 better |
| Customer service | 4.1 better | 3.8 |
| Research | 3.8 better | 3.6 |
| Overall | 4.4 | 4.5 better |
Investment options
Which investment products Paytm Money Limited and Zerodha let you access.
| Parameter | Paytm Money Limited | 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 Paytm Money Limited and Zerodha.
| Parameter | Paytm Money Limited | 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 Paytm Money Limited and Zerodha.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| SEBI registration | INZ000240532 | INZ000031633 |
| NSE member code | 90165 | 13179 |
| Year of incorporation | 2017 | 2010 longer track record |
| Net worth | ₹366.98 Cr | ₹13,000+ Cr stronger |
| Exchange memberships | NSE · BSE · MCX · NCDEX · MSEI | NSE · BSE · MCX |
| Latest complaint ratio | 0.002% fewer complaints | 0.030% |
Complaints record
Exchange complaint data for Paytm Money Limited and Zerodha — the ratio matters more than the raw count.
| Parameter | Paytm Money Limited | Zerodha |
|---|---|---|
| Latest financial year | 2025–26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | 765,696 | 80,12,000 larger base |
| Complaints filed | 14 | 2,400 |
| Complaint ratio | 0.002% fewer complaints | 0.030% |
Pros & cons
The main advantages and drawbacks of each broker.
Paytm Money Limited
▲ Pros
- ✓ Zero lifetime Demat AMC.
- ✓ Competitive flat brokerage across trading segments.
- ✓ Fully digital and paperless account opening.
- ✓ Supports stocks, F&O, commodities, IPOs, mutual funds, ETFs, bonds, and NPS.
- ✓ Modern web and mobile trading platforms with advanced charting.
- ✓ GTT orders, Basket Orders, Stock SIP, and Margin Trading Facility available.
▼ Cons
- ✕ Limited offline branch network.
- ✕ Research and advisory services are not as comprehensive as full-service brokers.
- ✕ Call & Trade service is chargeable.
- ✕ No dedicated desktop trading software.
- ✕ Customer support response time may vary during peak market hours.
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.
Explore more comparisons
Compare Paytm Money Limited with
Paytm Money Limited vs Angel One Paytm Money Limited vs Upstox Paytm Money Limited vs Groww Paytm Money Limited vs ICICIdirect Paytm Money Limited vs Kotak Neo Paytm Money Limited vs HDFC Securities Paytm Money Limited vs SBI Securities Paytm Money Limited vs Motilal Oswal Financial Services Limited (MOFSL) Paytm Money Limited vs Mirae Asset Sharekhan LimitedDisclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.