Zerodha Vs Karvy – Compare Best Discount & Full Service Broker

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. 

Notable Points: 


  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.


  1. Member of BSE, NSE, MCX, and NCDEX. 
  2. It facilitates trading in NRI trading. 
  3. They have call and trade service and trade through SMS service.
  4. Don’t offer a 3-in-1 account. 
  5. Chat support and 24X7 support unavailable. 
Zerodha Vs Karvy
Zerodha Vs Karvy

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.

Organisation TypePrivatePrivate
Broker CategoryDiscount BrokerFull-Service Broker
Head officeBangalore, IndiaHyderabad, India
Founded byNithin KamathC Parthasarathy
Commencement Year20101983

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.

Customer RatingsZerodhaKarvy
On Experience5.7 out of 106.0 out of 10
On Products & Services8.5 out of 106.5 out of 10
On Brokerage Charges & Fees9.5 out of 107.0 out of 10
On Stock Research & Advisory4.0 out of 106.7 out of 10
On Trading Platforms9.0 out of 106.5 out of 10
On Overall Ratings7.4 out of 106.5 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.

Demat ServicesZerodhaKarvy
Depository ParticipantCDSLCDSL
Charges on Account Opening Rs.300Free
AMC on DematRs.300 per AnnumRs.500 per Annum
AMC on TradingFreeFree
Marginal MoneyZeroZero to Rs.1 lakh
Offline to OnlineNoNo

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 & FeesZerodha BrokerageKarvy Brokerage
Equity Delivery TradingZero0.1% – 0.3%
Equity Intraday TradingRs.200.01% – 0.03%
Commodity Options TradingRs.200.01% – 0.03%
Equity Futures TradingRs.200.01% – 0.03%
Equity Options TradingRs.20 per LotRs.10 – Rs.30 per lot
Currency Futures TradingRs.200.01% – 0.03%
Currency Options TradingRs.20 per LotRs.10 – Rs.30 per lot
Minimum BrokerageZeroPercentage of Transaction
Demat AMC ChargesRs.300 per AnnumRs.500 per annum
Trading AMC ChargesFreeFree
Margin MoneyZeroZero 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. 

Other ChargesZerodhaKarvy
Transaction Charges0.00325% of Total Turnover0.00325% of Total Turnover
STT0.0126% of Total Turnover0.0126% 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)

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
Holiday Offers
Referral Offers
Zero Brokerage for Loss Making Trades

Comparison on Services Offered: 

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

Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
Trading Institution
Trading ExposureMaximum 28xMaximum 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 & AdvisoryZerodhaKarvy
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 / LeverageZerodha Margin Karvy Margin
Equity DeliveryMaximum 20xMaximum 10x
Equity IntradayMaximum 28xMaximum 20x
Equity FuturesMaximum 15xMaximum 10x
Equity OptionsMaximum 8xMaximum 15x
Currency FuturesMaximum 12xMaximum 12x
Currency OptionsMaximum 8xMaximum 10x
CommoditiesMaximum 17xMaximum 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. 

Equity Trading
Commodity Trading
Currency Trading
Mutual Funds

Comparison of Trading Platforms: 

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

Trading PlatformsZerodha 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
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

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.

Customer SupportZerodhaKarvy
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number080-40402020040 – 6750 6200
Email Support
Chat Support
Toll-Free Number1800 419 8283
Open Demat Account with Karvy
Zerodha vs Karvy – Open Demat Account with Karvy

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)ZerodhaKarvy
Lodged in BSE120210
Resolved in BSE117185
Lodged in NSE89165
Resolved in NSE85143

Zerodha Call Back Request


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.

open zerodha demat account
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Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years. I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.