Zerodha Online Trading Experience and Analysis
Over the past couple of years, I have been using Zerodha for online trading in India. This review aims to provide an honest and comprehensive analysis of my experience with the platform, including its strengths and weaknesses.
Overall Performance and Advantages
When I first started using Zerodha in September 2016, I was impressed by its unbeatable brokerage rates and extensive coverage across various financial segments. Zerodha stands out with its zero brokerage on cash and carry delivery-based transactions. In the derivative segment, the lowest brokerage of INR 20 per trade makes it an economical choice for traders, unless the trade is below INR 20 per trade.
Another notable feature is Zerodha University, which serves as an educational resource center for investors. It offers comprehensive materials across all segments, making it a valuable tool for both beginners and seasoned traders.
Freecoin Subscription and Mutual Fund Options
Additionally, Zerodha has introduced the coin subscription, allowing users to purchase mutual funds completely free up to INR 25,000 per month. After that, the subscription fee is INR 25 per month. However, it is crucial to note that there are no other commissions except the subscription fee.
Technical Glitches and UI Issues
Despite its numerous advantages, Zerodha faces technical glitches and issues with its website and app, which occasionally cause inconvenience. These glitches, primarily related to user interface (UI) and backend performance, make the trading experience less than ideal, especially for bulk traders.
The intuitive user interface is particularly lacking for traders who frequently deal with large volumes. Moreover, contract notes, which users receive, are often delayed and only available after 8 PM. This delay can stretch until midnight, frustrating traders who need immediate confirmation of their trades.
Customer Service Challenges
Unfortunately, the customer service experience at Zerodha has left much to be desired, particularly in terms of responsiveness and problem resolution.
In my recent experience, I was trying to buy an option, and the transaction kept getting rejected. After inquiring about the issue, I was directed to submit a six-month bank statement. This requirement felt arbitrarily imposed, especially given that I am an existing client with a long-standing Zerodha account. The customer support response felt like a bureaucratic exercise, rather than a genuine attempt to resolve the issue promptly.
System Downtime and Market Timings
Another significant issue is the system downtime. The trading platform often goes down when traders are in need of swift execution, such as during the market closing time or other critical moments. The service issues are further compounded by the fact that Zerodha frequently sends apology emails from their CEO, highlighting the poor service and apologizing for the inconvenience caused.
In conclusion, while Zerodha offers some unbeatable benefits such as zero brokerage on certain transactions and extensive educational resources, the platform's technical glitches, subpar customer service, and the occasional system downtime make it less than ideal for some traders. Users could benefit from a more reliable and user-friendly platform, as well as better customer service support.
Related Keywords:zerodha, online trading, brokerage, customer service, trading platform