Zerodha Vs Karvy – Comparison
Both Zerodha and Karvy offer various facilities and trading products to their traders. When an individual trader is going to choose one of them, then he needs to understand & analyze them relatively.
It will lead him to a better decision making ability. Here we have compared Zerodha vs Karvy to highlight the areas where the investor needs to know & analyze more.
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.
Conversely, Karvy is a Hyderabad based full-service broker established in 1983. Being an old player in this industry it offers many services & products to its investors for trading offline and online.
It has 575 branches and 375 franchises all over India. Also, they have an overseas operation in Dubai & New York.
- Offers direct mutual fund investment using their portal for free.
- In association with IDFC, it provides 3-in-1 account facilities.
- The trading terminal is best among all the other market competitors.
- It provides the best quality of customer support.
- Facilitate free fund transfer using UPI.
- Member of BSE, NSE, MCX, and NCDEX.
- It facilitates trading in NRI trading.
- They have call and trade service and trade through SMS service.
- Don’t offer a 3-in-1 account.
- Chat support and 24X7 support unavailable.
Zerodha Vs Karvy Overall Company Details:
Comparing Zerodha vs Karvy based on overall customer service we derived the below-mentioned details.
Here we have compared both the brokers considering the type of organization, broker type, originated location, establishment year & name of the founder.
|Broker Category||Discount Broker||Full-Service Broker|
|Head office||Bangalore, India||Hyderabad, India|
|Founded by||Nithin Kamath||C Parthasarathy|
Zerodha Vs Karvy Customer Ratings:
Comparing Zerodha vs Karvy based on Customer Ratings we get this information. Here we can see that regarding experience & research work, Karvy is leading but in the remaining segments such as products, services, brokerage charges & platforms Zerodha is winning the race.
|On Experience||5.7 out of 10||6.0 out of 10|
|On Products & Services||8.5 out of 10||6.5 out of 10|
|On Brokerage Charges & Fees||9.5 out of 10||7.0 out of 10|
|On Stock Research & Advisory||4.0 out of 10||6.7 out of 10|
|On Trading Platforms||9.0 out of 10||6.5 out of 10|
|On Overall Ratings||7.4 out of 10||6.5 out of 10|
|On Star Ratings||★★★★★||★★★☆☆|
Zerodha Vs Karvy AOC & AMC:
Here we have compared Zerodha vs Karvy based on account opening charge & account maintenance charge.
Here we can see from the below contrast that Karvy provides free AMC on trading accounts and zero cost account opening. Whereas, Zerodha provides free trading AMC and zero margin money criteria.
|Charges on Account Opening||Rs.300||Free|
|AMC on Demat||Rs.300 per Annum||Rs.500 per Annum|
|AMC on Trading||Free||Free|
|Marginal Money||Zero||Zero to Rs.1 lakh|
|Offline to Online||No||No|
Zerodha Vs Karvy Brokerage Charge:
Contrasting Zerodha vs Karvy based on Brokerage Charge we get the below details. Here we can see that Karvy offers a percentage based brokerage charge structure.
While Zerodha has a very economical flat fee-based brokerage charge. Karvy charges a minimum brokerage on executed orders but there is no such minimum brokerage in Zerodha.
|Brokerage Charge & Fees||Zerodha Brokerage||Karvy Brokerage|
|Equity Delivery Trading||Zero||0.1% – 0.3%|
|Equity Intraday Trading||Rs.20||0.01% – 0.03%|
|Commodity Options Trading||Rs.20||0.01% – 0.03%|
|Equity Futures Trading||Rs.20||0.01% – 0.03%|
|Equity Options Trading||Rs.20 per Lot||Rs.10 – Rs.30 per lot|
|Currency Futures Trading||Rs.20||0.01% – 0.03%|
|Currency Options Trading||Rs.20 per Lot||Rs.10 – Rs.30 per lot|
|Minimum Brokerage||Zero||Percentage of Transaction|
|Demat AMC Charges||Rs.300 per Annum||Rs.500 per annum|
|Trading AMC Charges||Free||Free|
|Margin Money||Zero||Zero to Rs.1 lakh|
Comparison on Administrative Charge:
In terms of Administrative transactional charge, we here compared Zerodha vs Karvy as below. We can see that both the broker share a similar charge structure.
|Transaction Charges||0.00325% of Total Turnover||0.00325% of Total Turnover|
|STT||0.0126% of Total Turnover||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)||18% of (Brokerage + Transaction Charges)|
Comparison on Offers:
Contrasting Zerodha & Karvy we get the below comparison on offers. We here can see that in terms of offers Karvy is a step ahead of Zerodha for offering more offers.
|Free Demat Account||✖||✔|
|Free Trading Account||✖||✖|
|Discount on Brokerage||✔||✖|
|Trading Happy Hours||✖||✖|
|Flexible Brokerage Plans||✖||✔|
|1 Month Brokerage Free||✖||✖|
|Zero Brokerage for Loss Making Trades||✖||✖|
Comparison on Services Offered:
Comparing Zerodha vs Karvy based on their service offering we derived the below comparison:
|3 in 1 Account||✖||✖|
|Trading Exposure||Maximum 28x||Maximum 20x|
Zerodha Vs Karvy Research & Advisory:
Contrasting Zerodha vs Karvy based on their research & advisory offering we received the below comparison. Here we can see in the below table that Karvy offers a lot more advisory support, where Zerodha doesn’t provide any.
|Research & Advisory||Zerodha||Karvy|
|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 Karvy Margin/ Exposure/ Leverage
Considering Zerodha vs Karvy based on product-wise leverage we get the below details.
|Exposure / Leverage||Zerodha Margin||Karvy Margin|
|Equity Delivery||Maximum 20x||Maximum 10x|
|Equity Intraday||Maximum 28x||Maximum 20x|
|Equity Futures||Maximum 15x||Maximum 10x|
|Equity Options||Maximum 8x||Maximum 15x|
|Currency Futures||Maximum 12x||Maximum 12x|
|Currency Options||Maximum 8x||Maximum 10x|
|Commodities||Maximum 17x||Maximum 12x|
Comparison of Products:
Comparing Zerodha vs Karvy based on their product offering we derived the below comparison. We can see in this below comparison that Karvy offered to trade in Mutual funds & SIP which Zerodha doesn’t.
Comparison of Trading Platforms:
Because of the trading terminal offering of Zerodha vs Karvy, we compared them as below.
|Trading Platforms||Zerodha Trading |
|Karvy 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||✖||✖|
|Online MF Buy||✔||✔|
Comparison on Customer Support:
Comparing customer assistance, we here have compared Zerodha vs Karvy as below. We can see from the below chart that Zerodha doesn’t provide dedicated dealers, offline trading (as it is a discount broker). While Karvy doesn’t facilitate chat support & 24X7 support.
|Support Number||080-40402020||040 – 6750 6200|
|Toll-Free Number||✖||1800 419 8283|
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 Karvy based on their customer complaint handling in the below table.
|Complaints (Current Year)||Zerodha||Karvy|
|Lodged in BSE||120||210|
|Resolved in BSE||117||185|
|Lodged in NSE||89||165|
|Resolved in NSE||85||143|
Finally, we can conclude that Karvy (full-service broker) has a huge offering for its customers. 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 Karvy as per his need only.