Is Zerodha good for beginners?

Short Answer

Zerodha is the largest stockbroker in India which holds more than 19% of the total market share. It is good for beginners as the account and brokerage charges are low. It offers a great trading platform and has a simple-to-use UI. All these features make it a suitable choice for beginners as well as advanced traders and investors.

Detailed Answer

About Zerodha

Zerodha is a leading stockbroker in India and is furthermore the country’s largest discount broker. It currently has more than 36 lakh active clients which comprise almost 19.06% of the total market share. Zerodha was founded in 2010 and was formed by Nithin and Nikhil Kamath.

Zerodha is a discount broker which allows you to invest in almost all the segments like equity, derivatives, bonds, and mutual funds.

Is Zerodha good for beginners?

In one word, absolutely. Zerodha is suitable for beginners for a number of factors. Some of them are listed below.

1. Reliability

If you are beginning your investment journey or opening a Demat account for the first time then Zerodha is a preferred option. Being India’s largest broker, you don’t have to worry about its trustworthiness. It has more than 3.2 million investors and traders who use the platform daily. Hence, you can stay assured that the broker is reliable.

2. Easy to use platform

One of the key advantages of using Zerodha is its UI (User Interface). It has an extremely simple, yet effective interface which can be used by beginners as well as advanced traders. The platform is extremely elegant and has all the necessary tools and charting tools, needed for technical analysis and trading. There are more than 7 wishlists where you can add the stocks which you want to track and purchase. Even a novice investor can figure out the details of the application due to its simplicity.

3. Advance mobile and web application

Zerodha’s mobile platform ‘Kite’ is one of the best applications for traders as well as investors. It also provides a top-of-the-line web application as well as a separate terminal for traders known as ‘Pi.’ These platforms are free of cost and can be used by all Zerodha users.

4. Additional learning facilities

Zerodha provides other informative platforms such as ‘Varsity’ and ‘Finshots’ for your education and learning. Finshots provides detailed sector analysis or stock analysis reports. Whereas Varsity is a learning platform on which you can explore the basics of trading and fundamental analysis. These platforms are provided to Zerodha users for free. Therefore, beginners can make use of these resources to get insights and learn the basics of the industry.

Conclusion

To sum it up Zerodha has a great UI, good platform, necessary tools, low platform and brokerage fees, etc. Considering all these, it can be stated that Zerodha is one of the best discount brokers out there. It is also reasonably priced at Rs 200 per annum, hence beginners looking for a discount broker should definitely consider it. In addition, you can all other investment features like investing in Bonds, Debentures, Shares, Mutual Funds, IPOs, etc all under one platform.

On the other hand, being a discount broker, Zerodha does not provide additional features like research reports or stock recommendations. Investors who rely on such data will have to arrange them at an additional cost from other platforms.

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