NJ Wealth Vs Zerodha

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 Commodity options
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 A

Exchange 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 / crore

Non-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 with a substantial client base.
  • The platform has an extensive advisor network all over India.
  • Offers mutual investments, 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

Q1. What is Zerodha?

Ans- Zerodha is a leading discount stock broker in India that offers online trading services across various financial instruments, including stocks, derivatives, commodities, currencies, and mutual funds.

Q2. How do I open an account with Zerodha?

Ans- 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.

Q3. What is NJ Wealth?

Ans- NJ Wealth is a financial services company in India that offers a range of investment advisory and distribution services, including mutual funds, portfolio management services (PMS), insurance, and more.

Q4. How do I open an account with NJ Wealth?

Ans- 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.

Q5. Which one is better for online trading, Zerodha, or NJ Wealth?

Ans- 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.

Q6. What are the brokerage charges for Zerodha and NJ Wealth?

Ans- Zerodha typically charges lower brokerage fees compared to traditional brokers, while NJ Wealth may have varying fee structures depending on the services availed.

Q7. Do Zerodha and NJ Wealth offer research and advisory services?

Ans- Zerodha offers limited research and advisory services, primarily through its online platform, whereas NJ Wealth specializes in providing personalized investment advice and research reports.

Q8. What types of accounts do Zerodha and NJ Wealth offer?

Ans- 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.

Q9. Can I transfer my existing investments to Zerodha or NJ Wealth?

Ans- Yes, both Zerodha and NJ Wealth facilitate the transfer of existing investments from other brokers or platforms.

Q10. What trading platforms are offered by Zerodha and NJ Wealth?

Ans- Zerodha provides the Kite trading platform, whereas NJ Wealth offers its NJ E-Wealth trading platform for online trading.

Q11. Are there mobile apps available for trading with Zerodha and NJ Wealth?

Ans- Yes, both Zerodha and NJ Wealth offer mobile trading apps for convenient trading on-the-go.

Q12. Can I invest in mutual funds through Zerodha and NJ Wealth?

Ans- Yes, both Zerodha and NJ Wealth provide access to mutual funds, but NJ Wealth may offer a wider range of fund choices and research support.

Q13. What investment options are available with Zerodha and NJ Wealth?

Ans- Zerodha offers trading in stocks, derivatives, commodities, currencies, and mutual funds, while NJ Wealth focuses more on mutual funds, PMS, and other investment products.

Q14. Are Zerodha and NJ Wealth regulated by SEBI?

Ans- Yes, both Zerodha and NJ Wealth are regulated entities under the Securities and Exchange Board of India (SEBI).

Q15. Does Zerodha or NJ Wealth offer financial planning services?

Ans- NJ Wealth offers comprehensive financial planning services through its network of advisors, whereas Zerodha primarily focuses on trading services.

Q16. Can I apply for IPOs through Zerodha or NJ Wealth?

Ans- Yes, both Zerodha and NJ Wealth provide access to IPO applications for eligible clients.

Q17. What are the account maintenance charges for Zerodha and NJ Wealth?

Ans- 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.

by Instockbroker Team | March 18, 2024

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