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Zerodha Vs Nirmal Bang – Compare Best Discount & Full Service Broker

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Zerodha Vs Nirmal Bang – Comparison

Both Zerodha and Nirmal Bang 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 Nirmal Bang 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, full-service broker Nirmal Bang (Nirmal Bang Securities Pvt Ltd)  was established in 1989. This broker has a huge product offering list for its investors. They publish customer informative magazine, tips, detailed research reports, etc for their investors. 

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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Nirmal Bang Securities:

  1. The marginal funding feature/facility is offered in collaboration with NBFCs. 
  2. Almost every investment option is offered.
  3. The minimum charge for the brokerage is not charged.
  4. No brokerage plan is offered to the customer. 
  5. Trading & DEMAT account opening is offered for free. 
Zerodha Vs Nirmal Bang
Zerodha Vs Nirmal Bang

Zerodha Vs Nirmal Bang Overall Company Details: 

Comparing Zerodha vs Nirmal Bang 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.

OverviewZerodhaNirmal Bang
Company Type namePrivatePrivate
Broker TypenameDiscount BrokerFull-Service Broker
Headquarters LocationBangalore, IndiaMumbai, India
Founder nameNithin KamathNirmal Bang
Year of Establishment20101986

Zerodha Vs Nirmal Bang Customer Ratings:

Comparing Zerodha vs Nirmal Bang based on Customer Ratings we get this information.

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

Customer RatingsZerodhaNirmal Bang
Experience5.7/106.5/10
Products & Services8.5/106.2/10
Brokerage Charges & Fees9.5/106.7/10
Stock Research & Advisory4.0/106.0/10
Trading Platforms9.0/106.5/10
Overall Ratings7.4/106.4/10
Star Ratings★★★★★★★★☆☆

Zerodha Vs Nirmal Bang AOC & AMC: 

Here we have compared Zerodha vs Nirmal Bang based on account opening charge & account maintenance charge.

Here we can see from the below contrast that Nirmal Bang provides free AMC on trading accounts and zero cost account opening. Whereas, Zerodha provides free trading AMC and zero margin money criteria. 

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Demat ServicesZerodhaNirmal Bang
Depository SourceFor Zerodha: CDSLFor Nirmal Bang: CDSL
Account Opening Charges300 RupeesZero
Demat AMC Charges300 Rupees per Annum200 Rupees
Trading AMC ChargesFree of costFree of cost
Margin MoneyZeroMinimum 10,000 Rupees
Offline to Online

Zerodha Vs Nirmal Bang Brokerage Charge:

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

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

Brokerage Charge & FeesZerodha BrokerageNirmal Bang Brokerage
Equity Delivery TradingZero0.20%
Equity Intraday TradingRs.200.02%
Commodity Options TradingRs.20NA
Equity Futures TradingRs.200.02%
Equity Options TradingRs.20 per LotRs.35 per Lot
Currency Futures TradingRs.200.02%
Currency Options TradingRs.20 per LotRs.20 per Lot
Minimum BrokerageZeroPercentage of Transaction
Demat AMC ChargesRs.300 per AnnumRs.200
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000

Comparison on Administrative Charge: 

In terms of Administrative transactional charge, we here compared Zerodha vs Nirmal Bang as below. We can see that both the broker share a similar charge structure. 

Other ChargesZerodhaNirmal Bang
Transaction Charges0.00325% of Total Amount of Turnover0.00390% of Total Amount of Turnover
STT0.0126% of Total Amount of Turnover0.0126% of Total Amount of Turnover
SEBI Turnover Charges0.0002% of Total Amount of Turnover0.0002% of Total Amount of Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% of (Brokerage + Total Amount of Transaction Charges)18% of (Brokerage + Total Amount of Transaction Charges)

Comparison on Offers: 

Contrasting Zerodha & Nirmal Bang we get the below comparison on offers. We here can see that in terms of offers Nirmal Bang is a step ahead of Zerodha for offering more offers.

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OffersZerodhaNirmal Bang
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 Nirmal Bang based on their service offering we derived the below comparison. So many services are offered by these two organizations like Demat service, IPO service, PMS, trading exposure, etc.

ServicesZerodhaNirmal Bang
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 28xMaximum 10x

Zerodha Vs Nirmal Bang Research & Advisory: 

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

Research & AdvisoryZerodhaNirmal Bang
Fundamental Reports availability
Research Reports availability
Company Reports availability
Annual Reports availability
Company Stock Review availability
Free Stock Tips availability
IPO Reports availability
Top Picks availability
Daily Market Review availability
Monthly Reports availability
Weekly Reports availability
Offline Advisory availability
Relationship Manager facility

Zerodha Vs Nirmal Bang Margin/ Exposure/ Leverage

Considering Zerodha vs Nirmal Bang based on product-wise leverage we get the below details. Almost all the margin charges are different in these broking companies.

Exposure / LeverageZerodha MarginNirmal Bang Margin
Equity DeliveryMaximum 20xMaximum 3x
Equity IntradayMaximum 28xMaximum 10x
Equity FuturesMaximum 15xMaximum 4x
Equity OptionsMaximum 8xMaximum 5x
Currency FuturesMaximum 12xMaximum 3x
Currency OptionsMaximum 8xMaximum 2x
CommoditiesMaximum 17xMaximum 3x

Comparison of Products: 

Comparing Zerodha vs Nirmal Bang based on their product offering we derived the below comparison. We can see in this below comparison that Nirmal Bang offered to trade in Mutual funds, SIP, Insurance & forex which Zerodha doesn’t. 

ProductsZerodhaNirmal Bang
Equity Trading
Commodity Trading
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Zerodha Vs Nirmal Bang Trading Platforms: 

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

Trading PlatformsZerodha Trading PlatformsNirmal Bang 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
Open Demat Account with Nirmal Bang
Zerodha vs Nirmal Bang – Open Demat Account with Nirmal Bang

Comparison on Customer Support: 

Comparing customer assistance, we here have compared Zerodha vs Nirmal Bang 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 Nirmal Bang doesn’t facilitate 24×7 support, email support & chat support. 

Customer SupportZerodhaNirmal Bang
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZero50

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 Nirmal Bang based on their customer complaint handling in the below table. 

Complaints (Current Year)ZerodhaNirmal Bang
Lodged in BSE12064
Resolved in BSE11764
Lodged in NSE8991
Resolved in NSE8591

Zerodha Call Back Request

Conclusion:

Finally, we can conclude that Nirmal Bang (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 Nirmal Bang as per his need only.

Zerodha Account Opening
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