Zerodha and Wisdom Capital both are discount brokers in India. Zerodha has started the flat brokerage structure in India and now becomes the top discount broker having more than 15 lakh users.
Wisdom capital is another competitor entered in the online discount broking domain in 2013. Wisdom Capital is getting popularity due to its zero brokerage plan where you get delivery as well as trade totally free.
However, if talk about platforms and customer service, Zerodha provided better servicer as compared to Wisdom Capital which is still in its early stage
Let’s compare Zerodha vs Wisdom capital side by side
Wisdom Capital vs Zerodha
|A flat fee of Rs. 20/order.|
Equity Delivery Free.
|Freedom Plan – Zero Brokerage|
Pro plan – 0.005% per order
Ultimate Plan – 0.007% per order
|Facility to invest in IPO, mutual funds and bonds.||No such facility|
|Get a 3-in-1 account facility if you have an IDBI savings account||No 3-in-1 account option available|
|Zerodha offers direct mutual funds investment.||No mutual funds investment available|
|Better trading platform for traders||Less effective trading platforms|
Let’s have a detailed review of Zerodha and Wisdom Capital brokerage firms
Zerodha Demat Account Review
Zerodha broke the trend of paying a hefty amount as brokerage and introduced a flat fee brokerage structure in India. By the end of 2019, Zerodha became the largest broker in India with a huge customer database of 1.5 million active clients.
Zerodha is best for daily traders who need better trading platforms. Check my detailed Zerodha review
Zerodha Brokerage Charges
Zerodha takes no fee on the stock delivery. That means, if you are investing in stocks for long-term & not selling shares on the same day, you won’t have to pay any brokerage.
For intraday, trading charges are Flat Rs. 20 or 0.01%, whichever is lower.
Intraday trading includes equities, currency, and commodity trading.
|Equity Intraday Trading||Rs. 20 or 0.03% (whichever is lower)|
|Equity Options||Flat Rs. 20 per executed order|
|Equity Futures||Rs. 20 or 0.03% (whichever is lower)|
|Currency Options||Rs. 20 or 0.03% (whichever is lower)|
|Commodity F&O||Rs. 20 or 0.03% (whichever is lower)|
Zerodha Margin Details
Zerodha offers margin on 3 different products; MIS, bracket, and cover orders.
The margin provided on all products is 3-12.5% that is up to 8x depending on the script.
For Intraday orders in F&O
- For Index, the margin required is 35%.
- For Stocks, the margin required is 45%.
- For Commodities & Currency, it is 50%.
As per SEBI’s new guidelines, no broker can give a high amount of leverage to their customers.
Zerodha Account Charges
- Zerodha account opening charges – Rs 200 and for
- Zerodha commodity account opening charges – Rs. 100 (free 1st year)
- Zerodha annual maintenance charges – Rs. 75 per quarter
Zerodha Trading Platforms Review
#1. Zerodah Kite
Kite is a fast & intuitively designed trading platform that allows you to trade equities, F&O, commodities, and currency. You receive updated information with live streaming of the latest market trends without any lag.
You can search across 90,000+ stocks across multiple exchanges and live market depths up to level-3.
Kite’s level-3 data allows you to set trading strategies with a deeper analysis of market trends.
You get more than 100 indicators with an advanced charting interface.
#2. Zerodha Kite Connect
Kite Connect is a tool to create powerful trading platforms using simple HTTP/JSON APIs.
You can build your own investment app using these APIs and showcase that to Zerodha’s client base. Coin, SmallCase, and Streak are examples of investment/trading apps built over Kite Connect.
SmallCase allows you to build a diversified, low-cost portfolio for long-term investment purposes. A small case diversifies your portfolio with multiple stocks and protects you against market volatility of the market.
You have to pay fees only when you transact for mutual funds without paying any maintenance fee. You can invest in stocks and hold them in your account.
You can also start SIPs to invest in mutual funds.
Streak is the world’s first platform for traders to create, backtest, and deploy trading strategies without any coding skills.
You can track real-time market trends, get alerts, and manage positions.
Streak work in 3 steps
- Create Strategies
- Backtest Strategies
- Deploy Strategies
Zerodha has collaborated with Sensibull to provide customers with the ‘Options Trading’ platform. You can trade Nifty Options, Bank Nifty Options, and Stock Options.
You can also learn and practice virtually without investing your money in real.
Sensibull has three plans; Free, Lite, and Pro.
Golden Pi is India’s first online platform to invest in bonds and debentures. You can invest in bonds & debentures to get fixed returns on your investments.
3 steps to start investing using GoldenPi-
- Choose bonds that match your goals
- Complete KYC online
- Make the payment online and receive bonds in your Demat account.
Zerodha is best for both for daily traders who needs good trading platforms and better customer service. You can also invest in mutual funds directly and save money without paying commissions on mutual funds investments.
Zerodha also allows you to apply for IPOs using UPI (BHIM).
Also Read – How to open Zerodha Account.
- Free equity delivery
- Flat brokerage is cost-effective for a regular trader
- Hassle-free investments in IPO using UPI payments
- In-depth reports and vast historical data for better analysis
- Enable user to invest directly in mutual funds
- Ease of creating multiple trading strategies & alerts
- Better customer support, they even quickly respond to Google play reviews.
- Server slows down during peak hours
- Limited bank acceptance for NRI account
Wisdom Capital Demat Account Review
Wisdom Capital has initiated in 2013 and collaborated with Ashlar Securities in 2016 is providing real cost-effective discount brokerage. Their most popular plan Freedom plan offers you free trading and delivery in all the segments including equities, commodities, and derivatives.
Wisdom Capital also offers financial planning services to help you achieve your financial goals with systematic investment strategies. You can read the detailed review of wisdome capital
Let’s go through their Demat account features below.
Wisdom Capital Brokerage Charges
Wisdom Capital offers 3 brokerage plans- Freedom Plan, Pro Plan, and Ultimate Plan.
Freedom is free of cost plan designed for new traders or long term investors. You don’t have to pay any brokerage in any trade segment except if you avail call and trade facility. Wisdom capital charges Rs 20/Order in call and trade option.
You have to pay 0.005% per order for delivery as well as intraday in equities and Rs. 9/order in F&O in Pro plan. Pro plan is designed for experienced traders who want to enjoy a high margin and advanced trading tools for their day trading.
If you are a highly active trader, the ultimate plan is for you. You have to pay 0.005% per order for delivery as well as intraday in the equities. You will pay brokerage at the price of Rs. 9/lot in options and % in futures under the ‘Ultimate’ plan.
You get up to 60x margin leverage in the ultimate plan.
Wisdom Capital Margin Provided
|Margin Segment||Freedom Plan||Pro Plan||Ultimate Plan|
|Intraday Margin In NSE Cash||Up to 5 Times||Up to 40 Times||Up to 60 Times|
|Intraday Margin In NSE Futures (MIS)||1 Times||6 Times||Up To 15 Times|
|Intraday Margin In NSE Futures (Cover Order)||Up to 20 Times||Up to 20 Times|
|Intraday Exposure In NSE Options||1 Times||1Times on Buy 6 Times on Sell.||1Times on Buy Up to 15 Times on Sell.|
|Intraday Leverage In MCX (MIS)||1 Times||6 Times||Up to 10 Times|
|Intraday Leverage In MCX (BO/CO)||Up to 7 Times||Up to 14 Times|
|Delivery Margin In NSE Cash(BTST)||1 Times||Up to 2 Times||Up to 3 Times|
Wisdom Capital Account Opening Charges
- Wisdom account opening – FREE
- Annual maintenance charges (AMC) – Rs. 999 (One-time payment)
Wisdom Capital Trading Platforms
#1. Nest Trader
You can do real-time analysis in equities, commodities, and derivates from your pc. You can trade without delay using this powerful desktop trading software.
The benefits of NEST Trader are as below.
- You can instantly buy or sell your orders to the stock exchanges without any delay.
- You can create multiple watch lists and track your favorite stocks on different parameters and analyze their performance.
- Multiple filtering options under scanners to have a better judgment of market trends.
- You can get better trading results with effective charting options available that allow you deeper fundamental and technical analysis.
- Get alerts on the latest market trends and news.
#2. Fox Trader
Fox trader is an Intelligent Trading Platform equipped with advanced features like chart analysis, technical indicators, live tick screening, algorithm designing, and executing automated orders.
You can use these features to get the best trading experience.
Benefits of Fox Trader Platform are
- You can use multiple scanners with around 200+ signals, 300 + studies to understand and analyze the past data.
- You can pre-place orders as per your defined strategy.
- You can enjoy faster monitoring of the market trends and better analysis that accelerates order execution.
- End-of-Day Technical Analysis gives you a detailed analysis of your actions when trading is over.
- Fox trader allows third party terminal plugins.
#3. Wisdom Trade
Wisdom Trade is a web browser-based trading platform to offer you powerful features right in your chrome or safari.
Wisdom Trade is a unique platform than others. Let’s see how its better-
- An excellent order book system to view your past orders.
- Multiple watch lists for scripts/
- 200+ Indicators for deeper analysis of the market and individual scripts.
#4. Wisdom Pro
Wisdom Pro is an advanced mobile trading app that enables faster trade execution, multiple scanner facilities, and chart display right on your smartphone.
Benefits of the Wisdom Pro trading
- You can watch Real Market Movements
- Access Order history, Trades, and Net Positions
- You can trade even on the lowest bandwidth like 2G.
- 100 indicators to analyze charts for informed decision making on the go.
- Instant trade placement and order book updates without any glitches.
- Available in dark mode to avoid mobile battery drainage.
- Free brokerage in all segments under Free Plan
- High leverage in the pro plans at low cost
- Trading platforms available for desktop as well as mobile.
- You can’t invest in IPOs, mutual funds or Debentures/Bonds
- Poor Customer support
- Not as versatile and powerful trading platforms as Zerodha
- No 3-in-1 account facility
- Less established broker as compared to rivals with only 15000+ customer base.
- Mobile app is not available for iPhone users.
- No streamlined online account opening process.
Wisdom Capital vs Zerodha (Comparison Table)
Let’s compare both discount brokers in detail to get more clarity about both firms.
|Only one brokerage for all customers – Flat Rs. 20/order or 0.01% (whichever is lower.)||Freedom Plan – Zero Brokerage|
Pro plan – 0.005% per order
Ultimate Plan – 0.007% per order
|Zerodha’s Streak platform allows you to deploy trading strategies without any coding skills.||No such strategy deployment platform|
|Up to 8x leverage for intraday trading||Up to 60x for ultimate plan users.|
|Zerodha offers direct mutual funds investment.||Doesn’t offer mutual funds investment|
|You can invest in Bonds and debentures online.||No facility to invest in Bonds and debentures.|
|Facility to invest in IPO with UPI||Doesn’t offer IPO investments|
|IDBI bank account holders can contact customer care and get the 3-in-1 account.||Doesn’t offer 3 in 1 account|
|Good Customer Service||Poor Customer Service|
Final Words on Zerodha Vs Wisdom Capital
Zerodha offers free equity delivery trades, flat Rs. 20 for other segments and intraday margin of 12.5X which is good enough for new traders. And the trading platforms are developed while considering the heaver traders.
Wisdom Capital offer 3 different plans to make it suitable for both beginners and experienced traders. New trader can trade 1X margins on their Freedom plan. Whereas, professional traders with 2 to 3 years of experience can trade with 60X margins.
But if we consider all the factors including service, trading platforms, brand value, then Zerodha is the definitely winner.