NJ Wealth Vs Zerodha
One of the easiest ways to choose a stockbroker for you is to compare different brokers, by researching their features, offerings, and charges. To help you in this crucial decision we have compared two of the most prominent brokers in the stock market – Zerodha and NJ Wealth.
We have compared these two platforms based on their account opening fees, brokerage charges, features, trading
platforms, and their advantages and disadvantages. This will help you get a clearer idea about the differences in features and offerings of Zerodha and NJ Wealth.
NJ Wealth vs Zerodha Overview
Zerodha
Zerodha is a discount brokerage platform founded by Nithin Kamath in 2010. The platform charges low and flat brokerage for various trading instruments. It offers a modern trading experience through its technologically advanced multiple trading platforms such as Zerodha Kite, Zerodha web trading platform, and Zerodha Coin. Additionally, Zerodha facilitates online IPO applications via UPI, provides an accurate P&L console, and supports the use of the Kite Connect API for custom applications.
NJ Wealth
NJ Wealth is a full-service broker that provides extensive investment advice and detailed stock analysis for clients. The platform was founded in 2000 by Niraj Ravindra Choksi. It is based in Surat, Gujarat. While brokerage fees are relatively higher, NJ Wealth offers a dedicated mutual fund distributor to assist clients in their investment journey. The platform provides access to a comprehensive range of financial products, including mutual funds, PMS, bonds, FDs, NPS, loans against MF, equity, and ETFs.
Features of NJ Wealth and Zerodha
Zerodha:
- User-friendly trading platforms including Kite, Console, and Coin
- GTT (Good till canceled) orders feature
- You can apply for IPOs online with UPI
- Trading and investing in stocks, futures and options, currencies, commodities, etc.
- Commission-free mutual fund investment
- Call and trade feature
- Zero brokerage on equity delivery
- Leverage up to 20X
NJ Wealth:
- NJ Wealth is a specialized mutual fund distributor
- Offers portfolio management services
- Wide range of financial products including mutual funds, PMS, bonds, FDs, NPS, loans against MF, equity, and ETFs
- Offers calculators to calculate brokerage and other charges
- NJ FLAP initiative for spreading financial awareness and literacy
- Offers a dedicated app named NJ E wealth for checking valuation reports, net worth management, last 10 transactions, and P&L reports
Account Opening Charges
| Account Opening and Demat Charges | Zerodha | NJ Wealth |
|---|---|---|
| Trading Account Opening Charges | Rs.200 | Rs.300 |
| Demat AMC (Annual Maintenance Charges) | Rs.300 per Annum | Free |
| Trading AMC (Annual Maintenance Charges) | Free | Rs.250 per Annum |
| Margin Money | Zero | Minimum Rs.3,000 |
| Offline to Online Charges | Not applicable | Yes |
| Depository | CDSL | CDSL & NSDL |
Zerodha Brokerage Charges
| Zerodha charges | Equity delivery | Equity intraday | Futures options | Equity options | Currency futures | Currency options | Commodity futures | |
|---|---|---|---|---|---|---|---|---|
| Brokerage | Zero Brokerage | Zero Brokerage | Zero Brokerage | Flat Rs. 20 per executed order | Rs.20 Per Order | Rs.20 Per Order | 0.03% or Rs. 20/executed order whichever is lower | ₹ 20/executed order |
| Call & Trade Charges | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order | Rs. 50 per executed order |
| STT/CTT | 0.1% on buy & sell | 0.025% on the sell side | 0.01% on sell side | 0.05% on sell side (on premium) | No STT | No STT | 0.01% on sell side (Non-Agri) | 0.05% on sell side |
| Transaction charges | NSE: 0.00345%BSE: 0.00345% | NSE: 0.00345%BSE: 0.00345% | NSE: 0.002% | NSE: 0.053% (on premium) | NSE:Exchange txn charge: 0.0009%BSE:Exchange txn charge: 0.0009% | NSE:Exchange txn charge: 0.035%BSE:Exchange txn charge: 0.001% | Group AExchange txn charge: 0.0026%Group B:Exchange txn charge: CASTOR SEED – 0.0005%KAPAS – 0.0026%PEPPER – 0.00005%RBDPMOLEIN – 0.001% | Exchange txn charge: 0.05% |
| GST | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) | 18% on (Brokerage + SEBI charges + transaction charges) |
| SEBI charges | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore | ₹10 / crore | Agri:₹1 / croreNon-agri:₹10 / crore | ₹10 / crore |
| Stamp charges | 0.015% or ₹1500 / crore on buy-side | 0.003% or ₹300 / crore on buy-side | 0.002% or ₹200 / crore on buy-side | 0.003% or ₹300 / crore on buy-side | 0.0001% or ₹10 / crore | 0.0001% or ₹10 / crore | 0.002% or ₹200 / crore on buy side | 0.003% or ₹300 / crore on buy side |
NJ E Wealth Brokerage Charges
| NJ Wealth charges | Equity delivery | Equity intraday | Equity Futures | Equity options | Currency futures | Currency options | Commodity |
|---|---|---|---|---|---|---|---|
| Brokerage | 0.1% – 0.2% | 0.01% – 0.02% | 0.01% – 0.02% | Rs.10 – Rs.20 per Lot | 0.01% – 0.02% | Rs.10 – Rs.20 per Lot | 0.01% – 0.02% |
| STT/CTT | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover |
| Transaction charges | 0.00325% | 0.00325% | 0.00325% | 0.065% (Premium only) | 0.00290% | 0.065% (Premium only) | 0.00325% |
| GST | 18% of (Brokerage + Transaction Charges) | 18% | 18% | 18% | 18% | 18% | 18% |
| SEBI charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover |
| Stamp charges | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State | 0.002% – 0.004% – Depends on State |
Pros and cons of NJ Wealth Vs Zerodha
Zerodha
Pros:
- Widely known as the safest, most reliable, and trustworthy broker.
- Offers user-friendly trading platforms such as Kite, Console, and Coin.
- No brokerage on equity delivery.
- Offers advanced order types such as GTT orders.
- Online IPO application through the platform.
- Has the simplest brokerage pricing model which charges 0.03% or Rs 20 per order (Whichever is lower).
Cons:
- Does not offer stock recommendations or research reports.
- Do not have a monthly unlimited trading plan.
- Does not offer free forever AMC.
- No 3 in 1 account.
NJ Wealth
Pros:
- NJ Wealth Mutual Fund is one of the prominent mutual fund distributors in India, and it has a substantial client base.
- The platform has an extensive advisor network all over India.
- Offers mutual fund investments in capital markets, insurance, and PMS sectors.
- Also offers a platform for a holistic view of family finance.
Cons:
- Does not have a unified platform for all the provided services.
- Focuses primarily on mutual funds hence there is relatively slower growth in other sectors.
Zerodha vs NJ Wealth Trading Platforms
Zerodha:
- Kite Web: A web-based platform for trading and investing using advanced tools and market data.
- Kite mobile: A user-friendly mobile app for Android and iOS devices.
- Zerodha Coin: Dedicated platform for commission-free mutual fund investments.
NJ Wealth:
- NJ client desk: A web-based trading platform to invest in PMS, IPOs, ETPs, mutual funds, and other financial products.
- NJ E-Wealth: A user-friendly mobile app for Android and iOS devices.
NJ Wealth vs Zerodha Comparison
| Features | Zerodha | NJ Wealth |
|---|---|---|
| Account opening charges | Rs 200 | 300 |
| Demat account AMC | Rs 300 | Free |
| Trading AMC | Rs 250 | Free |
| Broker type | Discount broker | Full-service broker |
| Robo advisory | No | No |
| Portfolio management service | No | Yes |
| Margin facility | Yes | Yes |
| Currency trading | Yes | Yes |
| Commodity trading | Yes | Yes |
| Mutual fund investment | Yes | Yes |
FAQs
How do I open an account with Zerodha?
You can open an account with Zerodha by visiting their website, filling out the online account opening form, uploading necessary documents, and completing the verification process.
How do I open an account with NJ Wealth?
You can open an account with NJ Wealth by contacting a registered NJ Wealth advisor or by visiting their official website and filling out the online account opening form.
Which one is better for online trading, Zerodha, or NJ Wealth?
Zerodha is better known for its online trading platform and low brokerage fees, whereas NJ Wealth focuses more on investment advisory and wealth management services.
What are the brokerage charges for Zerodha and NJ Wealth?
Zerodha typically charges lower brokerage fees compared to traditional brokers, while NJ Wealth may have varying fee structures depending on the services availed.
Do Zerodha and NJ Wealth offer research and advisory services?
Zerodha offers limited research and advisory services, primarily through its online platform, whereas NJ Wealth specializes in providing personalized investment advice and research reports.
What types of accounts do Zerodha and NJ Wealth offer?
Zerodha offers Demat and trading accounts for online trading, while NJ Wealth provides a range of investment accounts, including mutual fund, SIP, and PMS accounts.
Can I transfer my existing investments to Zerodha or NJ Wealth?
Yes, both Zerodha and NJ Wealth facilitate the transfer of existing investments from other brokers or platforms.
What trading platforms are offered by Zerodha and NJ Wealth?
Zerodha provides the Kite trading platform, whereas NJ Wealth offers its NJ E-Wealth trading platform for online trading.
What investment options are available with Zerodha and NJ Wealth?
Zerodha offers trading in stocks, derivatives, commodities, currencies, and mutual funds, while NJ Wealth focuses more on mutual funds, PMS, and other investment products.
Are Zerodha and NJ Wealth regulated by SEBI?
Yes, both Zerodha and NJ Wealth are regulated entities under the Securities and Exchange Board of India (SEBI).
Can I apply for IPOs through Zerodha or NJ Wealth?
Yes, both Zerodha and NJ Wealth provide eligible clients with access to IPO applications.
What are the account maintenance charges for Zerodha and NJ Wealth?
Zerodha typically has lower or no account maintenance charges compared to traditional brokers, while NJ Wealth may have varying charges depending on the type of account.