Online trading platforms have revolutionized the way individuals invest in financial markets. With just a few clicks, people can buy and sell stocks, mutual funds, and other securities. However, when choosing a trading platform, it is crucial to understand the charges and fees associated with it. In this article, we will compare the charges of two popular trading platforms, Indmoney Vs Zerodha Charges, to help you make an informed decision.
Introduction
Before diving into the details, let’s take a moment to understand the significance of knowing the charges involved with online trading platforms. While the allure of quick profits may dominate our thoughts, it is essential to consider the costs incurred during the trading process. By evaluating charges such as account opening fees, brokerage charges, annual maintenance charges (AMC), and other hidden costs, we can make better decisions regarding our investment strategies.
Charges of Indmoney and Zerodha
INDmoney does not collect any fees on a yearly maintenance basis, nor does it have any hidden fees. However, if you choose to invest in US equities, you will be required to pay a fee of 0.5% of the entire amount that you invest at the beginning of your investment, as well as 0.5% of the total amount that you take out from your holdings. In order to change your Indian Rupees into US dollars, there is an additional charge of 0.5 percent.
Zerodha provides FREE equity delivery and Direct mutual funds. For Indraday, Currency, Commodity and Futures & Options it provides with flat fee of ₹20 or 0.03% (whichever is lower). On he other hand, INDmoney charges ₹20 or 0.05% (whichever is lower). Thus, wih 0.03%, Zerodha provides cheapest rate compared to INDmoney and also within the industry. Open Zerodha account at cheapest rate here.

Zerodha’s equities trading costs you nothing (it’s free), however their intraday trading costs Rs 20 per completed order or 0.03% (whichever is lower).
₹0 Free equity delivery

₹ 0 brokerages on Equity & Mutual fund
- All equity delivery investments (NSE, BSE), are absolutely free — ₹ 0 brokerage.
- Free direct MF
Indmoney and Zerodha charges explained
Exchange Transaction/Turnover Charges
This is charged by the exchange : NSE/BSE; on the value of your transactions executed on the respective exchange. For NSE, The charge is 0.00325% of transaction value for all stocks. For BSE, The charge depends on the group of the traded stock, and is as follows : Stocks part of Group A,B,E,F,FC,G,GC,I, and W are charged @ 0.00375% of transaction value. Stocks part of Group M,MT,TS,MS,IF,IT, and R are charged @ 0.00275% of transaction value. Stocks part of Group X,XT,Z are charged @ 0.1% of transaction value. Stocks part of Group P,ZP are charged @ 1% of transaction value. Stocks traded under the odd lot mechanism (excluding scrips belonging to M,IF, and IT) are charged @ 1% of transaction value. DP (Depository Participant) Charges (On Delivery Sell Orders) This is charged by the depository and depository participant for debiting shares from your demat account and inter-settlement BTST transactions. This is charged as : DP charges when buying : ₹ 0 DP charges when selling : ₹ 13.5 + GST per ISIN (Stock or ETF) per day, regardless of quantity sold. Examples to understand how this works? Example 1 : Say you execute 5 delivery sell orders in Stock X in one trading session. For this activity you will be charged ₹ 13.5+GST. As in this case you sold only 1 ISIN (Stock X) multiple times, and DP charges depends on the number of unique ISINs sold as delivery orders (in this case 1), regardless of the individual quantity/orders of each ISIN sold. Example 2 : Say you execute 10 delivery sell orders , 3 in Stock X, 5 in Stock Y, and 2 in Stock Z. For this activity, you will be charges a total of 3*(₹ 13.5+GST). As in this case you sold 3 ISINs (Stock X, Stock Y,and Stock Z) multiple times, and DP charges depends on the number of unique ISINs sold as delivery orders (in this case 3), regardless of the individual quantity/orders of each ISIN sold. Securities Transaction Tax (STT) This is charged by the government when you transact on the exchanges. Charged as above on both buy and sell orders for equity delivery trades. Charged as above only for sell order for equity intraday trades. When trading at INDmoney, STT can be alot more than the brokerage we charge. Important to keep a tab on. This is charged as : For equity deliver orders (Buy and Sell) : 0.1% of order amount. For equity intraday orders (charged only on the sell order) : 0.025% of order amount.
Stamp Duty
The government will charge you this fee in order to issue the contract note necessary for your trading activity. This fee is solely applicable to Buy orders, as previously mentioned before.
SEBI Turnover Charges
The Securities and Exchange Board of India assesses this fee in order to cover the costs of regulating the markets. This will cost 0.0001% of the total value of your purchase.
Physical Statement Delivery
Any statement that is asked to be sent physically will incur a fee of 300 per request, in addition to 300 for the cost of the courier service.
Transfers not made on the market from the demat account
You will be charged a fee of 10 for any off-market transactions that you choose to execute, and this fee will include any depository fees that may be applicable.
Remat Charges
These fees are assessed whenever a request for the rematerialization of shares is completed on your behalf.
Rematerialization of shares refers to the process by which electronic share holdings may be turned into physical share certificates. This can be done by a shareholder at their own expense.
This is a price of INR 250 per certificate that is rematerialized, and it includes any expenses that may be incurred by the Depository.
Demat Charges
These fees are assessed whenever a request for dematerialization of shares is completed on your behalf.
Your physical share certificates may be turned into electronic share holdings via a process called dematerialization of shares, which is a term that refers to the procedure itself.
This is a price of INR 250 per certificate that is rematerialized, and it includes any expenses that may be incurred by the Depository.
Deposit via Netbanking
These are the fees associated with the payment gateway, and they amount to ten rupees for each deposit that is made via internet banking. (There is no fee for deposits that are carried out via UPI).
Fees for Calls and Transactions
Orders that are made via our support or trading desk are subject to an additional fee of 500 per order.
You may phone us at this number to put orders to purchase and sell: 07314852023.
GST
This is the tax that the government imposes on services that are provided.
Brokerage fees, SEBI fees, deposits made via net-banking, DP fees, Auto-square off fees, call and trade fees, demat/remat fees, and physical statement fees are all subject to this 18% tax.
Overview of Indmoney
Introduction to Indmoney
Indmoney is a leading online trading platform that offers a wide range of investment options. It aims to simplify the investment process for users by providing a user-friendly interface and comprehensive research tools. Let’s explore the charges associated with Indmoney:
Account Opening Charges
To open an account with Indmoney, you may need to pay a one-time account opening fee. The exact amount varies depending on the type of account you choose, such as a trading account or a demat account.
Brokerage Charges
Indmoney charges brokerage fees based on the type of transaction and the volume of the trade. They follow a flat fee structure, which means the brokerage charges remain constant regardless of the trade size.
Depository Charges
DP Charges for Delivery (on Sell Orders) | ₹0 Intraday: Buy & Sell | ₹13.5/scrip Delivery Sell |
Modification in CML | ₹25 per request | |
Physical Statement Courier | ₹300 per request + ₹300 courier charges | |
Off Market Transfers from the Demat Account Including the depository transaction charges | ₹10 per transaction | |
Remat Charges Including the depository transaction charges | ₹250 per certificate | |
Demat Charges Including the depository transaction charges | ₹250 per certificate |
AMC Charges
Indmoney levies an annual maintenance charge to maintain your demat account. This charge ensures that your account remains active and accessible.
Other Charges
Apart from the account opening charges, brokerage charges, and AMC charges, there might be other costs associated with Indmoney. These could include charges for SMS alerts, transaction statements, physical contract notes, or additional research and analysis tools.
Deposit using Netbanking | ₹10 |
Auto Square off charges (For Open Intra Day Positions) | Rs 20 per position |
Call & Trade charges | ₹500 per order |
GST On Brokerage, DP Charges, Exchange Transaction Charges, SEBI Turnover Charges and Auto Square-off Charges | 18% |
Regulatory Charges
Exchange Transaction Charges (Delivery and Intraday for both Buy and Sell) | 0.00325% NSE | 0.00375% BSE |
STT | 0.10% Delivery Buy and Sell | 0.025% Intraday Sell |
Stamp Duty | 0.015% Delivery Buy | 0.003% Intraday Buy |
SEBI Turnover Charges Delivery and Intraday for both Buy and Sell | 0.0001% |
Comparison with other platforms
To determine whether Indmoney’s charges are competitive, it’s essential to compare them with other trading platforms in the market. While the exact charges may vary, Indmoney generally offers competitive rates compared to its counterparts. However, it is crucial to consider other factors beyond charges when choosing a trading platform.
Overview of Zerodha

Introduction to Zerodha
Zerodha is a prominent name in the online trading space, known for its low-cost brokerage services and innovative technology. Let’s delve into the charges associated with Zerodha:
Account Opening Charges
Unlike Indmoney, Zerodha may require a one-time account opening fee. The fee depends on the type of account you choose, such as an individual account or a corporate account.
Brokerage Charges
Zerodha follows a discount brokerage model, where the brokerage charges are significantly lower compared to traditional brokerage firms. They charge a flat fee or a percentage-based fee, depending on the trading segment and the type of order placed.
AMC Charges
Zerodha does not levy any annual maintenance charges for maintaining your demat account. This is advantageous for investors who prefer a no-fee structure.
Other Charges
Apart from the account opening charges and brokerage charges, Zerodha may have additional charges for services like call and trade, physical contract notes, or premium research and analysis tools. It’s essential to review the detailed fee structure provided by Zerodha to understand the complete cost picture.
Zerodha- All Intraday Equity charges
Consider purchasing 400 shares for 1000 and selling them for 1100. The net profit is 39,976. after all the charges deducted. Let’s see charges in detail.
Charges incurred
Turnover | 840000 |
Brokerage | 40 |
STT total | 110 |
Exchange txn charge | 27.3 |
Clearing charge | 0 |
GST | 12.11 |
SEBI charges | 0.99 |
Stamp duty | 12 |
Total tax and charges | 202.4 |
Points to breakeven | 0.51 |
Net P&L | 39797.6 |
Comparison with other platforms
Zerodha’s cost structure and low brokerage charges have made it a popular choice among traders and investors. However, it’s important to evaluate the overall value proposition, including the platform’s features, customer support, and usability, in addition to charges.
Comparing Indmoney and Zerodha Charges
Now that we have explored the charges of both Indmoney and Zerodha individually, let’s compare them side by side to gain a better understanding:
Account Opening Charges
Indmoney requires no account opening fees, but Zerodha has an account opening fee of ₹200. It’s advisable to check their respective websites or contact their customer support to get the latest information on these charges.
Brokerage Charges
Indmoney follows a flat fee structure, whereas Zerodha offers a combination of flat fees and percentage-based fees. Depending on your trading volume and preferences, one model may be more cost-effective than the other.
AMC Charges
While Zerodha charges an annual maintenance fee for demat accounts, Indmoney stands out by not imposing any AMC charges. This can be a significant cost-saving factor for long-term investors.
Other Charges
Both platforms may have additional charges for specific services or tools. It’s important to review the detailed fee schedule provided by each platform to identify any potential hidden costs.
Considering the various charges and fees discussed, it’s crucial to evaluate your trading or investment requirements to determine which platform aligns better with your needs.
Additional Factors to Consider
Apart from charges, several other factors should influence your decision when choosing between Indmoney and Zerodha:
User Interface and Experience
Evaluate the platforms’ user interfaces and features to ensure they provide a smooth and intuitive trading experience. Look for features such as real-time market data, customizable dashboards, and ease of order placement.
Customer Support
Consider the quality and accessibility of customer support offered by both platforms. Prompt and reliable customer support can be crucial, especially during critical trading moments or when you encounter technical issues.
Research and Analysis Tools
Assess the research and analysis tools provided by Indmoney and Zerodha. Look for features like stock screeners, technical analysis tools, fundamental data, and expert research reports. Having access to comprehensive tools can help you make informed investment decisions.
Security Measures
Ensure that both platforms prioritize the security of your funds and personal information. Look for features such as two-factor authentication, encryption protocols, and partnerships with trusted depositories to safeguard your assets.
Considering these additional factors alongside the charges and fees will help you make a well-rounded decision.
Conclusion
Choosing between Indmoney and Zerodha requires a comprehensive evaluation of charges, features, and personal preferences. Both platforms offer competitive charges and strive to provide user-friendly experiences. Indmoney stands out with its flat fee structure and comprehensive research tools, while Zerodha appeals to cost-conscious investors with its low-cost brokerage model and no AMC charges.

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