INDMoney vs Zerodha: Which Is Better & What’s The Difference?

INDMoney vs Zerodha

In today’s world, the journey from rags to riches is only possible when you choose the right brokerage app! Afterall, the brokerage apps are the most efficient vehicles for your trading and investment journey. Do you agree? In the current scenario market mavens are hooked in the battle of INDMoney vs Zerodha.

INDMoney vs Zerodha

Reason?

They are competent enough to beat each other! Which one do you prefer by the way? Or are you the one who is hovering to and fro to determine the best one?

Don’t worry! In this comparison, we’ll delve into the features that will be most helpful to you in terms of user-friendliness, charges, research tools, and customer support.

By the end, you’ll have a clear picture of INDMoney vs Zerodha battle and you will know which one aligns better with your investment goals.

So, stick to this write-up without skipping any part. Let’s begin!

(A) INDMoney vs Zerodha: A Brief Overview

Alright, the buzzing trading arena, and we’ve got the dynamic duo under the spotlight – INDMoney and Zerodha. They’re like the Batman and Robin of discount brokers, offering trading platforms with fixed brokerage charges. Now, here’s the intriguing twist – no tips or recommendations here! That means no interference from those pesky Relationship Managers. 

Ready for the lowdown on both? Let’s dive into a quick and snappy overview for the ultimate comparison!

ParticularsINDMoneyZerodha
FoundersAshish KashyapNithin Kamath & Nikhil Kamath
Founded in20192010
Head officeGurugram
(Haryana, India)
Bengaluru (Karnataka, India)
Number of BranchesZero120+ branches & partner offices
Exchanges supportedNSE, BSE, CDSL, US Stock Exchange CommissionNSE, BSE, MCX & MCX-SX
Desktop and mobile trading platformINDmoney Super Money appKite
Official Websiteindmoney.comZerodha.com
INDMoney vs Zerodha: A Brief Overview

(B) Charges Comparison of INDMoney vs Zerodha

When you’re sizing up INDMoney vs Zerodha, the key player is their charges – and let’s be real, it’s your hard-earned money we’re talking about. Those trading fees, account maintenance costs – they’re like silent nibblers, taking a bite out of your profits. Understanding and comparing these charges? That’s your ticket to making savvy investment moves. 

It’s all about ensuring you’re squeezing the most out of your finances. Whether you’re hustling as a day trader or playing the long game as an investor, keeping tabs on these costs is your secret weapon against unnecessary losses and a surefire way to amp up those returns. 

So, buckle up as we kick off the showdown of charges!

(B.1) Account Opening Charges

Go through the following table where we have compared the account opening charges of both the brokers.

Account Opening ChargesINDMoneyZerodha
Trading Account Opening Charges (One Time)Rs.0.00Rs.200
Trading Account Annual Maintenance ChargesRs.0.00Rs.0.00
Demat Account Opening Charges (One Time)Rs.0.00Rs.100
Demat Account Annual Maintenance ChargesRs.0.00Rs.300
Commodity Account Opening Charges (One Time)N/ARs.200
INDMoney vs Zerodha: Account Opening Charges

What did you observe here? The account opening & maintenance charges of INDMoney is almost nil as compared to Zerodha! Despite being a true fact, it sounds too good to be true. That’s one of the crucial factors for the humongous user base of INDMoney.

(B.2) Brokerage Charges

Brokerage ChargesDetails (Per executed order)INDMoneyZerodha
Mutual FundsINR 0.00INR 0.00
EquityEquity Delivery0.05% or Rs.20INR 0.00
Equity Intraday0.05% or Rs.200.03% or Rs.20
F&O Futures0.05% or Rs.200.03% or Rs.20
F&O OptionsRs.20 (flat)Rs.20 (flat)
Currency Currency FuturesN/A0.03% or Rs.20
Currency OptionsN/ARs.20 (per executed order)
Commodity
Commodity FuturesN/A0.03% or Rs.20
Commodity OptionsN/ARs.20 (flat)
Call and Trade ChargesExecutable OrderRs.500Rs.50
Auto Square Off ChargesExecutable OrderRs.20 per positionRs.50
GSTOn Every Charges18%18%
Brokerage CalculatorFrom the websiteINDMoneyZerodha
Brokerage Charges of INDMoney vs Zerodha

When it comes to mutual funds, both INDMoney and Zerodha don’t charge anything – good news for your investments. 

Now, looking at stocks, INDMoney charges 0.05% or Rs.20 for delivery, while Zerodha has no charge for this. For intraday trading, both brokers have the same rate of 0.03% or Rs.20. Futures and Options trading costs are identical for both. 

In currency trading, they mostly align, but Zerodha charges Rs.20 for currency options. Commodities follow a similar pattern. However, the currency and commodity segments aren’t available in INDMoney.

Call and trade charges differ with INDMoney at Rs.500 and Zerodha at Rs.50. Auto square off costs vary too, with INDMoney at Rs.20 and Zerodha at Rs.50. Don’t forget the 18% GST on all these charges for both brokers. 

This breakdown helps you understand the costs, empowering you to make informed decisions about your investments!

(B.3) Transaction Charges

Transaction ChargesDetails (Per executed order)INDMoneyZerodha
EquityEquity DeliveryNSE: Rs.325 per crore
BSE: Rs.375 per crore
NSE: Rs.345 per crore
BSE: Rs.375 per crore
Equity IntradayNSE: Rs.325 per crore
BSE: Rs.375 per crore
NSE: Rs.345 per crore
BSE: Rs.375 per crore
F&O FuturesNSE: 0.0019NSE: 0.002%
F&O OptionsNSE:0.050%
(on premium)
NSE: 0.053%
Currency Currency FuturesN/ANSE: 0.0009%
BSE: 0.00022%
Currency OptionsN/ANSE: 0.035%
BSE: 0.001%
Commodity
Commodity FuturesN/A0.0026%
Commodity OptionsN/A0.05%
Transaction Charges of INDMoney vs Zerodha

Now, buckle up because we’re about to decode the transaction charges game of INDMoney vs Zerodha. When it comes to equity delivery, INDMoney and Zerodha almost high-five each other with NSE charges at Rs.325 per crore and BSE at Rs.375 per crore. 

In the intraday hustle, they keep the rhythm, both dancing to NSE’s Rs.325 per crore and BSE’s Rs.375 per crore beats. 

Now, let’s talk F&O – INDMoney brings a 0.0019% charge on NSE, while Zerodha opts for a 0.002% groove. For F&O options, INDMoney’s premium sees a 0.050% charge on NSE, while Zerodha’s premium dances to a 0.053% tune. 

Currency trading? Zerodha takes a lead with NSE charges at 0.035% and BSE at 0.001%, while INDMoney keeps it undisclosed. In the commodities world, Zerodha steps up with 0.0026% for commodity futures and 0.05% for commodity options, leaving INDMoney in the N/A zone.

It’s like a transaction charges jigsaw puzzle, but armed with this info, you’re ready to navigate the trading terrain!

(C) Comparison in terms of Business (INDMoney vs Zerodha)

The table provides a comparison between INDMoney and Zerodha in terms of their business particulars. It’s like having a snapshot of their business landscapes to help you make sense of their positions in the market-

Business ParticularsINDMoneyZerodha
UserbaseAround 90 lakhsOver 65 lakhs
Valuation$642 million$2 billion
Revenue Earned
(FY 2022)
Rs.89 croreRs.4,964 crore
Current profit/loss
(FY 2022)
Loss of Rs.68.6 crore (FY22)
Loss of Rs.73.9 crore (FY23)
Profitable company with
net profit of Rs.2,094 crore in FY 22
Comparison in terms of Business (INDMoney vs Zerodha)

Let’s dive into the business arena and compare INDMoney vs Zerodha. In terms of user base, INDMoney boasts around 90 lakhs users, while Zerodha is no slouch with over 65 lakhs users. Now, talking about valuation, Zerodha takes the lead with a whopping $2 billion, whereas INDMoney holds strong at $642 million.

When it comes to revenue earned in FY 2022, there’s a noticeable difference. INDMoney reported Rs.89 crore, while Zerodha significantly outpaced with a staggering Rs.4,964 crore. Now, the nitty-gritty of profit and loss. In FY 2022, INDMoney faced a loss of Rs.68.6 crore, while Zerodha reported a loss of Rs.73.9 crore in FY 2023.

And that’s the plot twist! 

In terms of business, Zerodha stands as a profitable company overall, boasting a net profit of Rs.2,094 crore in FY 2022 while INDMoney is drowned in huge losses.

Note: We have thoroughly explained the business model of Zerodha. Check out the article for detailed information.

(D) INDMoney vs Zerodha: Who is the winner?

In the INDMoney vs Zerodha face-off, the winner boils down to your priorities. What? Yes! That’s correct. If you compare them based on business perspectives, INDMoney showcases a larger user base and a notable valuation, but its financials reveal a loss in FY 2022. On the other hand, Zerodha, stands as a profitable company with impressive revenue and valuation figures. 

Now, let’s analyse the services. While the services related to Indian stocks and mutual funds are similar in both the firms. But with INDMoney, you can invest in US stocks too. However, you will see noticeable differences in the prices. 

However, the decision hinges on your preference – INDMoney for its extensive user community or Zerodha for its financial prowess. Consider your trading needs, user experience, and the financial health of each platform to make an informed choice tailored to your investment goals!

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Published By: Supti Nandi
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