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Zerodha Vs Master Trust – Compare Best Discount Broker

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Zerodha Vs Master Trust – Comparison

Both Zerodha and Master Trust 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 Master Trust 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. 

Whereas, Master Trust is a full-service broker incorporated in 1994 with more than 500 branches across India.

It is one of the lowest brokerage charging full-service brokers of India having customized brokerage plans & dedicated relationship managers for their customers. 

Notable Points: 

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.
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Master Trust: 

  1. Master trust has the lowest brokerage charge available.
  2. DEMAT account opening is free 
  3. Doesn’t charge a minimum brokerage fee
  4. Don’t have a 3-in-1 account.
  5. They don’t have any brokerage plans.
Zerodha Vs Master Trust
Zerodha Vs Master Trust

Zerodha Vs Master Trust Overall Company Details: 

Comparing Zerodha vs Master Trust 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.

OverviewZerodhaMaster trust
Company TypePrivatePrivate
Broker TypeDiscount BrokerFull-Service Broker
HeadquartersBangalore, IndiaMumbai, Maharashtra
FounderNithin KamathHarjeet Singh Arora &
R.K.Singhania
Established Year20101994

Zerodha Vs Master Trust Customer Ratings:

Comparing Zerodha vs Master Trust based on Customer Ratings we get this information.

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

Customer RatingsZerodhaMaster trust
Experience5.7/106.0/10
Products & Services8.5/106.1/10
Brokerage Charges & Fees9.5/106.5/10
Stock Research & Advisory4.0/105.8/10
Trading Platforms9.0/106.6/10
Overall Ratings7.4/106.2/10
Star Ratings★★★★★★★★☆☆

Zerodha Vs Master Trust AOC & AMC: 

Here we have compared Zerodha vs Master Trust based on account opening charge & account maintenance charge.

Here we can see from the below contrast that Master Trust provides free AMC on trading accounts. Whereas, Zerodha provides free trading AMC and zero margin money criteria. 

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Demat ServicesZerodhaMastertrust
Depository SourceCDSLCDSL & NSDL
Account Opening ChargesRs.300Rs.555
Demat AMC ChargesRs.300 per AnnumRs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum 10,000
Offline to Online

Zerodha Vs Master Trust Brokerage Charge:

Contrasting Zerodha vs Master Trust based on Brokerage Charge we get the below details. Here we can see that Master Trust offers a percentage based brokerage charge structure.

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

Brokerage Charge & FeesZerodha BrokerageMaster trust Brokerage
Equity Delivery TradingZero0.10%
Equity Intraday TradingRs.200.01%
Commodity Options TradingRs.200.01%
Equity Futures TradingRs.200.01%
Equity Options TradingRs.20 per LotRs.10 per Lot
Currency Futures TradingRs.200.01%
Currency Options TradingRs.20 per LotRs.5 per Lot
Minimum BrokerageZeroRs.20 per executed order
Demat AMC ChargesRs.300 per AnnumRs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs Master Trust as below.

We can see that both the broker share a similar charge structure excluding the transaction charge segment. In that segment, Zerodha is charging more fees than Master Trust.

Other ChargesZerodhaMaster trust
Transaction Charges0.00325% of Total Turnover0.00289% 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 & Master Trust we get the below comparison on offers. We here can see that in terms of offers Master Trust is a step ahead of Zerodha for offering more offers. 

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OffersZerodhaMastertrust
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 Master Trust based on their service offering we derived the below comparison:

ServicesZerodhaMaster trust
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 6X

Zerodha Vs Master Trust Research & Advisory: 

Contrasting Zerodha vs Master Trust based on their research & advisory offering we received the below comparison. Here we can see in the below table that Master Trust offers a lot more advisory support, where Zerodha doesn’t provide any.

Research & AdvisoryZerodhaMaster trust
Fundamental Reports
Research Reports
Company Reports
Annual Reports
Company Stock Review
Free Stock Tips
IPO Reports
Top Picks
Daily Market Review
Monthly Reports
Weekly Reports
Offline Advisory
Relationship Manager

Zerodha Vs Master Trust Margin/ Exposure/ Leverage

Considering Zerodha vs Master Trust based on product-wise leverage we get the below details. 

Exposure / LeverageZerodha Margin Master trust Margin
Equity DeliveryMaximum 20xMaximum 2X
Equity IntradayMaximum 28xMaximum 6X
Equity FuturesMaximum 15xMaximum 4X
Equity OptionsMaximum 8xMaximum 5X
Currency FuturesMaximum 12xMaximum 3X
Currency OptionsMaximum 8xMaximum 3X
CommoditiesMaximum 17xMaximum 1X

Comparison of Products: 

Comparing Zerodha vs Master Trust based on their product offering we derived the below comparison. We can see in this below comparison that Zerodha and Master Trust both offer similar products to their customer.

ProductsZerodhaMaster trust
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs Master Trust Trading Platforms: 

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

Trading PlatformsZerodha Trading PlatformsMaster trust Trading Platforms
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 Master Trust 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 Master Trust doesn’t facilitate 24×7 support & chat support. 

Customer SupportZerodhaMaster trust
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZero35
Open Demat Account with Mastertrust
Zerodha vs Master Trust – Open Demat Account with Mastertrust

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 Master Trust based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaMaster trust
Lodged in BSE12056
Resolved in BSE11753
Lodged in NSE89112
Resolved in NSE85105

Zerodha Call Back Request

Conclusion:

Finally, we can conclude that the Master Trust (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 Master Trust as per his need only.

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