Sahi vs Zerodha
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Sahi
VS
Zerodha
Sahi vs Zerodha — quick verdict
Choose Sahi if
You want low-cost, self-directed trading
Trading Simplified.
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
Sahi is a discount broker incorporated in 2021; Zerodha is a discount broker incorporated in 2010.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Type of broker | Discount Broker | Discount Broker |
| Exchange membership | NSE · BSE | NSE · BSE · MCX |
| Year of incorporation | 2021 | 2010 older |
| Number of branches | Online Only | 0 |
| Active clients | 1 Lakh+ | ~1.6 crore larger |
Charges & AMC
Account-opening and maintenance charges for Sahi and Zerodha compared side by side.
| Parameter | Sahi | 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 lower | ₹300 |
| DP charges (per ISIN, sell) | ₹13.5 per company (ISIN) on sell transactions | ₹13.5 + GST per debit |
Brokerage charges
How Sahi and Zerodha price each trading segment, per executed order.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Equity Delivery | ₹10 or 0.05% per executed order (whichever is lower) | ₹0 (Free) |
| Equity Intraday | ₹10 or 0.05% per executed order (whichever is lower) | ₹20 or 0.03% (lower) |
| Equity Futures | ₹10 per executed order | ₹20 or 0.03% (lower) |
| Equity Options | ₹10 per executed order | ₹20 / order |
| Currency F&O | ₹10 per executed order | ₹20 or 0.03% (lower) |
| Commodity F&O | ₹10 per executed order | ₹20 or 0.03% (lower) |
| Call & Trade | Not Available | +₹50/order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Sahi and Zerodha, per segment.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Equity Delivery | NSE: 0.0030699% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Intraday | NSE: 0.0030699% • BSE: 0.00375% | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) |
| Equity Futures | NSE: 0.0018299% | NSE Rs 190 per Cr (0.0019%) | BSE Rs 0 |
| Equity Options | NSE: 0.0355299% (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: 0.03110% (on premium) | — |
| Commodity Futures | MCX: As per applicable exchange charges | — |
| Commodity Options | MCX: As per applicable exchange charges | — |
Demat & DP charges
Depository (demat) charges for Sahi and Zerodha — AMC, debit transactions, pledging and remat.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Demat Account Opening | ₹0 | — |
| Annual Maintenance Charges (AMC) | ₹0 | Rs 300 + GST per year (Rs 75 + GST per quarter) |
| Debit Transaction Charges | ₹13.5 per company (ISIN) on sell transactions | — |
| Pledge / Unpledge Charges | ₹15 per transaction/ISIN + GST | — |
| Dematerialisation (Demat) | ₹150 per certificate + courier charges | — |
| Rematerialisation (Remat) | ₹150 per certificate + courier charges | — |
| Failed Transactions | ₹50 per ISIN | 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 Sahi and Zerodha.
| Parameter | Sahi | 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 | Not Available | — |
| Commodity Futures & Options | Not Available | — |
Features & account
Account type and feature availability across Sahi and Zerodha.
| Parameter | Sahi | Zerodha |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✕ No | ✓ Yes better |
| Margin Trading (MTF) | ✕ No | ✕ No |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Sahi Web, Sahi Mobile App | Kite, Console, Coin, Kite Connect |
| Intraday square-off | 3:15 PM | 3:20 PM |
| Other | Advanced Charts, Option Chain, Watchlists, Price Alerts, Digital KYC, Real-time Market Data, Portfolio Tracking | 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 Sahi and Zerodha.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Trading platforms offered | Sahi Web, Sahi Mobile App | Kite, Console, Coin |
| Number of platforms | 2 | 3 more choice |
| Platforms (summary) | Sahi Web, Sahi Mobile App | Kite, Console, Coin, Kite Connect |
| Mobile / desktop apps | Web, Mobile | Web + Mobile, Web, Mobile |
User ratings
User ratings for Sahi and Zerodha across the key parameters.
| Rated on | Sahi | Zerodha |
|---|---|---|
| Fees | 4.8 better | 4.5 |
| Brokerage | 4.8 better | 4.6 |
| Trading platform | 4.5 | 4.6 better |
| Customer service | 4.2 better | 3.8 |
| Research | 3.8 better | 3.6 |
| Overall | 4.4 | 4.5 better |
Investment options
Which investment products Sahi and Zerodha let you access.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✕ No | ✓ Yes better |
| IPO | ✕ No | ✓ Yes better |
| Mutual Funds | ✕ No | ✓ Yes better |
| Bonds / NCD | ✕ No | ✓ Yes better |
Order types offered
Advanced order types supported by Sahi and Zerodha.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✕ No | ✓ Yes better |
Safety & credibility
SEBI registration, financial strength and complaint record for Sahi and Zerodha.
| Parameter | Sahi | Zerodha |
|---|---|---|
| SEBI registration | INZ000314836 | INZ000031633 |
| NSE member code | 90392 | 13179 |
| Year of incorporation | 2021 | 2010 longer track record |
| Net worth | ₹25+ Cr | ₹13,000+ Cr stronger |
| Exchange memberships | NSE · BSE | NSE · BSE · MCX |
| Latest complaint ratio | N.A. | 0.030% |
Complaints record
Exchange complaint data for Sahi and Zerodha — the ratio matters more than the raw count.
| Parameter | Sahi | Zerodha |
|---|---|---|
| Latest financial year | 2025–26 | 2025-26 |
| Exchange | NSE | NSE |
| Active clients | Latest Available | 80,12,000 |
| Complaints filed | N.A. | 2,400 |
| Complaint ratio | N.A. | 0.030% |
Pros & cons
The main advantages and drawbacks of each broker.
Sahi
▲ Pros
- ✓ Simple and transparent brokerage structure.
- ✓ ₹0 account opening and ₹0 annual Demat AMC.
- ✓ Fully digital and paperless account opening.
- ✓ User-friendly web and mobile trading platforms.
- ✓ Advanced charting, watchlists, and option chain.
- ✓ Suitable for beginners as well as active traders.
▼ Cons
- ✕ Limited research and advisory services.
- ✕ Investment products are fewer than large full-service brokers.
- ✕ No physical branch network.
- ✕ Call & Trade facility is limited or unavailable.
- ✕ Does not offer as many premium investment services as traditional brokers.
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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