Cholamandalam Securities Vs Zerodha
Zerodha is a discount broker and Cholamandalam Securities is a full-service broker. Both types of brokers differ in terms of their fees and services. You can check more about these platforms with the Cholamandalam Securities and Zerodha reviews.
Choosing between full-service brokers and discount brokers is a troublesome task. To make your broker selection process easy, we have come up with this comparison of two prominent brokers- Zerodha and Cholamandalam Securities.
Cholamandalam Securities Vs Zerodha Overview
Zerodha
Zerodha is a discount brokerage platform founded by Nithin Kamath in 2010. It has its headquarters in Bangalore, India. Zerodha focuses on providing a low-cost trading platform for individuals who prioritize independent investment decisions. Zerodha offers a variety of trading platforms with a user-friendly interface. These include Zerodha Kite, Console, Coin, etc. It also offers technical analysis tools and market data for research purposes. Check Zerodha review to know more about the customer reviews of the platform.
Cholamandalam Securities
Cholamandalam Securities is a SEBI-registered full-service broker founded in 1994. It is a well-established brokerage platform founded by N Srinivasan and has its headquarters in Chennai, Tamil Nadu. Cholamandalam offers a wider range of services at a potentially higher cost as it is a full-service broker. Cholamandalam provides research reports and investment recommendations to assist clients in making informed investment decisions.
Features of Zerodha and Cholamandalam Securities
Zerodha
- Wide range of investment products including stocks, currency, commodities, and mutual funds.
- Commission-free mutual fund investment.
- Zero brokerage for equity delivery.
- Advanced trading and charting tools such as TradingView and ChartIQ.
- Multiple trading platforms and integrations.
- Leverage up to 20 times for intraday trading in equity and F&O segments.
- Call and trade feature.
Cholamandalam Securities
- Free account opening process.
- It is a full-service broker.
- SEBI registered platform.
- Offers research reports and stock recommendations.
- Offers leverage up to 6X.
- Provides offline advisory services.
- Also offers a relationship manager.
Demat Account Charges
Zerodha
| Trading and demat account opening charges | Rs 200 |
| Zerodha AMC charges | Rs 0 |
| Demat account AMC | Rs 300 per year |
Cholamandalam Securities
| Trading and demat account opening charges | Free |
| Cholamandalam AMC charges | Rs 0 |
| Demat account AMC | Rs 300 per year |
Chola Securities Brokerage Charges
| Charges | Equity delivery | Equity intraday | Equity futures | Equity Options |
| Brokerage | 0.50% | 0.05% | 0.05% | Rs.50 per Lot |
| STT/CTT | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover | 0.0126% of Total Turnover |
| Transaction charges | 0.00300% | 0.00300% | 0.00300% | 0.00300% |
| GST | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) |
| SEBI charges | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover | 0.0002% of Total Turnover |
| Stamp charges | As per state guidelines | As per state guidelines | As per state guidelines | As per state guidelines |
Zerodha Brokerage Charges
| Zerodha charges | Equity delivery | Equity intraday | Equity futures | Equity options |
| Brokerage | Zero Brokerage | Zero Brokerage | Zero Brokerage | Flat Rs. 20 per executed order |
| Call & Trade Charges | Zero Brokerage | Zero | Zero | Zero |
| 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) |
| Transaction charges | NSE: 0.00345%
BSE: 0.00345% |
NSE: 0.00345%
BSE: 0.00345% |
NSE: 0.002% | NSE: 0.053% (on premium) |
| 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) |
| SEBI charges | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST | ₹10 / crore + GST |
| 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 |
Zerodha Vs Cholamandalam Securities Leverage
| Equity Leverage | Zerodha | Cholamandalam |
| Equity Delivery | Upto 20x | Upto 2X |
| Equity Intraday | Upto 28x | Upto 6X |
| Equity Futures | Upto 15x | Upto 3X |
| Equity Options | Upto 8x | Upto 5X |
| Currency Futures | Upto 12x | Upto 3X |
| Currency Options | Upto 8x | Upto 3X |
| Commodity | Upto 17x | Upto 2X |
Pros and Cons of Cholamandalam Securities and Zerodha
Zerodha
Pros
- No brokerage fee for equity delivery.
- No commission on direct mutual funds.
- Advanced trading and charting tools.
- Offers multiple trading platforms.
- Range of investment products.
Cons
- Do not offer investment advice.
- No unlimited monthly plans.
- Additional charges for unfulfilled orders.
Cholamandalam Securities
Pros
- SEBI registered brokerage platform.
- Provide offline advisory services.
- Provides research reports and investment recommendations to investors.
- Provides relationship manager.
Cons:
- Do not offer a call and trade feature.
- Do not offer trading in currency and commodities.
Trading Platforms of Zerodha and Chola Securities
Zerodha
- Kite Web: A browser-based platform that utilizes HTML5 technology for a fast and user-friendly experience. You can trade in various assets, including stocks, futures, options, commodities, and forex.
- Kite mobile app: The Kite mobile app is designed exclusively for convenience and ease of use. It offers a smart interface and advanced charting tools.
- Zerodha Coin: Zerodha Coin is a dedicated platform for commission-free mutual fund investments.
- Zerodha Console: This back-office platform provides a comprehensive reporting dashboard. Access various reports like profit & loss (P&L), portfolio statements, trading summaries, and tax reports.
Cholamandalam Securities
- Cholamandalam Securities web platform:
Cholamandalam Securities offers a website platform for trading in equities. You can access the Cholamandalam stock broking web trading platform from any browser and you can log in with your credentials.
- Cholamandalam mobile app:
Along with the web trading app, Cholamandalam Securities also offers a mobile app for trading on the go. You can download the app from the Google Play Store for app store.
Zerodha Vs Cholamandalam Securities Comparison
| Features | Zerodha | Cholamandalam |
| Account opening charges | Rs 200 | Zero |
| Demat account AMC | Rs 300 | Rs 300 |
| Broker type | Discount broker | Full-service broker |
| Robo advisory | No | No |
| IPO | Yes | Yes |
| Margin facility | Yes | Yes |
| SMS alert | No | No |
| Currency trading | Yes | No |
| Commodity trading | Yes | No |
| Mutual fund investment | Yes | Yes |
| Relationship manager | No | Yes |
| Offline advisory | No | Yes |
| Free stock tips | No | Yes |
Conclusion
To sum up, Zerodha and Cholamandalam Securities both are established brokerage platforms. However, both differ in terms of their popularity, offering, and brokerage charges. If you want to benefit from the lowest brokerage charges you can consider choosing Zerodha as it is a discount broker. On the other hand, if you want to access other features apart from trading such as free stock tips and recommendations, it will be best to choose Cholamandalam Securities– a full-service brokerage platform. You can also check the Chola demat account review for more information regarding the platform.
FAQs on Cholamandalam Securities Vs Zerodha
Q1. What is Zerodha?
Ans- Zerodha is a prominent discount brokerage firm in India, offering online trading services across various segments like equities, commodities, currencies, and derivatives.
Q2. What is Cholamandalam Securities?
Ans- Cholamandalam Securities Limited (CSL) is a subsidiary of Cholamandalam Investment and Finance Company Limited, offering brokerage and financial services in India.
Q3. How to open a Cholamandalam demat account?
Ans- You can go to the official website of Cholamandalam Securities and click on open demat account. You need to enter basic details and provide documents to open a Demat account with Cholamandalam Securities.
Q4. What are the brokerage charges at Zerodha?
Ans- Zerodha follows a discount brokerage model, and charges a fixed fee for each trade irrespective of the trade volume. Equity delivery trades are free, while intraday and derivatives trading incur a nominal fee.
Q5. Can I invest in mutual funds through Zerodha?
Ans- Yes, Zerodha offers a platform called Coin for investing in direct mutual funds with no commissions or transaction charges.
Q6. How can I transfer funds to my Zerodha trading account?
Ans- You can transfer funds to your Zerodha trading account through online banking, UPI, NEFT/RTGS, or by using the Zerodha app.
Q7. What type of brokerage is Cholamandalam Securities?
Ans- Cholamandalam Securities is a full-service brokerage and offers personalized advice, research support, and a comprehensive range of financial services.
Q8. What are the account opening charges of Cholamandalam Securities?
Ans- There are no account opening charges and you can open a Cholamandalam Securities demat account free of cost. However, you need to pay account maintenance charges(AMC) of Rs 300 per year.
Q9. Does Cholamandalam Securities have a mobile trading app?
Ans- Yes, Cholamandalam Securities offers a mobile trading app for seamless trading on smartphones and tablets.
Q10. Can retail investors open accounts with Cholamandalam Securities?
Ans- Yes, Cholamandalam Securities caters to retail investors, providing them with a range of investment services.
Q11. Does Zerodha offer educational resources for traders and investors?
Ans- Yes, Zerodha offers a variety of educational resources, including webinars, tutorials, and articles, to empower traders and investors with market knowledge.
Q12. Is Cholamandalam Securities suitable for beginners?
Ans- Yes, Cholamandalam Securities provides beginner-friendly platforms and educational resources to help new investors navigate the financial markets.
by Instockbroker Team | April 8, 2024