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Zerodha Vs Alice Blue Online – Which One Is Better? Side-By-Side Comparison

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Zerodha Vs Alice Blue – Comparison:

Comparing Zerodha vs Alice Blue in terms of all product-wise details which are essential for every investor we get the detailed study.  In this comparative assessment, we focused on the advantages and disadvantages of both the broker for the knowledge of investors.

Zerodha is the largest discount broker of India for providing the best online trading platform, high exposure in exchange for low brokerage, free mutual fund investment (using the platform) and a lot more.

Based on Bangalore it has 9lakhs customer base, 22 branch offices, 94 associate office, and 6 support-call & trade offices. 

Whereas, Alice Blue Online is a discount broker originated from southern India member of NSE, BSE & MCX_SX commenced business in 2017. 

Notable Features: 

Zerodha: 

  1. Offers direct mutual fund investment using their portal for free. 
  2. In association with IDFC, it provides 3-in-1 account facilities. 
  3. The trading terminal is best among all the other market competitors.
  4. It provides the best quality of customer support.
  5. Facilitate free fund transfer using UPI.

Alice Blue: 

  1. Equity Delivery Brokerage charges are free.  
  2. Superfast and paperless account opening. 
  3. The highest fee is INR. 20/- per trade across Equity Intraday, Future, Option, Currency, and Commodity. 
  4. The annual maintenance fee on the DEMAT account is zero.
  5. ANT is a technology-oriented modern platform to trade.
Zerodha Vs Alice Blue Online
Zerodha Vs Alice Blue Online

Zerodha Vs Alice Blue Online Company Details: 

Comparing Zerodha vs Alice Blue based on overall customer service we derived the below-mentioned details.

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Here we have compared both the brokers considering the type of organization, broker type, originated location, establishment year & name of the founder.

OverviewZerodhaAlice Blue Online
Organization TypePrivatePrivate
Broker CategoryDiscount BrokerDiscount Broker
Head OfficeBangalore, IndiaBangalore, Karnataka
Founded ByNithin KamathSidhavelayutham M
Commencement Year20102006

Zerodha Vs Alice Blue Online Customer Ratings:

Comparing Zerodha vs Alice Blue based on Customer Ratings we get this information.

Here we can see that regarding experience & research work, Alice Blue is leading but in the remaining segments such as brokerage charges & platforms, Zerodha is winning the race.

Customer RatingsZerodhaAlice Blue Online
On Experience5.7 out of 105.5 out of 10
On Products & Services8.5 out of 108.5 out of 10
On Brokerage Charges & Fees9.5 out of 105.6 out of 10
On Stock Research & Advisory4.0 out of 105.8 out of 10
On Trading Platforms9.0 out of 105.9 out of 10
On Overall Ratings7.4 out of 106.1 out of 10
On Star Ratings★★★★★★★★☆☆

Comparison on AOC & AMC: 

Here we have compared Zerodha vs Alice Blue based on account opening charge & account maintenance charge.

Here we can see from the below contrast that both Zerodha & Alice Blue Online offer free AMC on the trading account along with zero margin money criteria. 

Demat ServicesZerodhaAlice Blue Online
Depository ParticipantCDSLCDSL & NSDL
Charges on Account Opening Rs.300Rs.100
AMC on DematRs.300 per AnnumRs.350 per Annum
AMC on TradingFreeFree
Marginal MoneyZeroZero-Margin
Offline to Online

Zerodha Vs Alice Blue Online Brokerage Charge:

Contrasting Zerodha vs Alice Blue based on Brokerage Charge we get the below details. Here we can see that Alice Blue offers a mixed brokerage charge structure (having a percentage based charge and flat charge both).

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While Zerodha has a very economical flat fee-based brokerage charge. Alice Blue charges a minimum brokerage on executed orders but there is no such minimum brokerage in Zerodha.

Brokerage Charge & FeesZerodha BrokerageAlice Blue Online Brokerage
Equity Delivery TradingZero0.01% or Rs.10 per executed order
Equity Intraday TradingRs.200.01% or Rs.10 per executed order
Commodity Options TradingRs.20Rs.100
Equity Futures TradingRs.200.01% or Rs.10 per executed order
Equity Options TradingRs.20 per LotRs.10  per executed order
Currency Futures TradingRs.20Rs.10  per executed order
Currency Options TradingRs.20 per LotRs.10  per executed order
Minimum BrokerageZeroRs.10  per executed order
Demat AMC ChargesRs.300 per Annum350 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroZero

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs Alice Blue as below.

We can see that both the broker share a similar charge structure excluding transaction charge & STT criteria. In these criteria, Zerodha is expensive than Alice Blue.

Other ChargesZerodhaAlice Blue Online
Transaction Charges0.00325% of Total Turnover0.00260% of Total Turnover
STT0.0126% of Total Turnover0.01% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Transaction Charges)18% of (Brokerage + Transaction Charges)

Zerodha or Alice blue Offers: 

Contrasting Zerodha or Alice Blue we get the below comparison on offers. We here can see that in terms of offers Alice Blue is offering more offers than Zerodha. 

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OffersZerodhaAlice Blue Online
Free Demat Account
Free Trading Account
Discount on Brokerage
Trading Happy Hours
Flexible Brokerage Plans
1 Month Brokerage Free
Holiday Offers
Referral Offers
Zero Brokerage for Loss Making Trades

Comparison on Services Offered: 

Comparing Zerodha vs Alice Blue based on their service offering we derived the below comparison:

ServicesZerodhaAlice Blue Online
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 20X

Zerodha Vs Alice Blue Online Research & Advisory: 

Contrasting Zerodha vs Alice Blue based on their research & advisory offering we received the below comparison.

Here we can see in the below table that Alice Blue offers free stock tips supports, where Zerodha doesn’t provide any.

Research & AdvisoryZerodhaAlice Blue Online
Fundamental Reports Services
Research Reports Services
Company Reports Services
Annual Reports Services
Company Stock Review Services
Free Stock Tips Services
IPO Reports Services
Top Picks Services
Daily Market Review Services
Monthly Reports Services
Weekly Reports Services
Offline Advisory Services
Relationship Manager Services

Zerodha Vs Alice Blue Online Margin/ Exposure/ Leverage 

Comparing Zerodha vs Alice Blue based on product-wise leverage we get the below details.

Exposure / LeverageZerodha MarginAlice Blue Online Margin
Equity DeliveryMaximum 20xMaximum 4X
Equity IntradayMaximum 28xMaximum 20X
Equity FuturesMaximum 15xMaximum 7X
Equity OptionsMaximum 8xMaximum 12X
Currency FuturesMaximum 12xMaximum 5X
Currency OptionsMaximum 8xMaximum 7X
CommoditiesMaximum 17xMaximum 10X

Comparison of Products: 

Comparing Zerodha vs Alice Blue based on their product offering we derived the below comparison.

We can see in this below comparison that both Alice Blue & Zerodha offers almost the same products to their investors. The only difference is Alice Blue offers mutual funds and SIP products which are not offered by Zerodha. 

ProductsZerodhaAlice Blue Online
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs Alice Blue Online Trading Platforms: 

Because of the trading terminal offering of Zerodha vs Alice Blue, we compared them as below. 

Trading PlatformsZerodha TradingAlice Blue Online Trading
Desktop Platform – Windows
Desktop Platform – Mac
Desktop Browser Platform
Mobile Site Platform
Android App Platform
iOS App Platform
Windows App Platform
Other Mobile OS Platform
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management

Zerodha and Alice Blue Customer Support: 

Comparing customer assistance, we here have compared Zerodha and Alice Blue as below.

We can see from the below chart that both Zerodha & Alice Blue don’t provide dedicated dealers, offline trading (as it is a discount broker) & toll-free number.

Apart from that Alice Blue doesn’t facilitate 24X7 support & chat support also.

Customer SupportZerodhaAlice Blue Online
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZeroNo Branch
Aliceblue Demat Account
Aliceblue Demat Account

Comparison of Grievances: 

Both these brokers provide multiple channels to their investors to reach them so that they can support the customers in a better way. Here we compared Zerodha vs Alice Blue based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaAlice Blue Online
Lodged in BSE120156
Resolved in BSE117142
Lodged in NSE89189
Resolved in NSE85172

Zerodha Call Back Request

Alice blue Call Back Request

Conclusion:

Finally, we can conclude that Alice Blue (discount broker) has a huge offering for its customers just like its market reputation. But Zerodha (discount broker) offers lower charges to its customers.

Still, it should be kept in mind that individual investors should opt the broker between Zerodha and Alice Blue Online as per his need only.

open zerodha demat account
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