Is Zerodha trustworthy?
- Asked By
- Updated On:19-May-2023
- Replies:1
Short Answer
Zerodha is an Indian discount stock broker which provides various services to its customers related to investing. It has been awared as the Best Indian Stock Broker by NSE and BSE. Being one of the biggest brokerage companies, it is widely trusted because of its wide user base, industry wide recognitions and advances security features.
Detailed Answer
Zerodha is an Indian discount stock broker which provides various services to its customers related to investing. It also has many other products around investing the major ones are, Coin, Console, and Smallcase used for investing in mutual funds, managing funds and transactions, and for theme-based investing respectively.
Why Zerodha is trustworthy and safe stock broker in India?
Zerodha is undoubtedly the most successful and trusted Indian stock broker because of the following reasons:
1. Transparency:
Being a bootstrapped Indian company without foreign investments has gained the trust of investors and traders through its transparency. The users holding accounts with Zerodha are sure about their data being protected in India itself.
The clients are continuously updated about their account holdings, the funds available in their brokerage account, and the intraday positions if any, over email and SMS. It also updates the user when adding funds and has secured payment transferring and withdrawal systems through modern security technologies.
2. Security of the Zerodha platofrm:
Zerodha is well-known for its industry-standard security which ensures the safety of its client's capital from unethical activities. Apart from a username and password, it also has a compulsory two-factor authentication system where the user, while logging in from the web, enters a unique code displayed in the Kite mobile app. This two-factor authentication is of great use even if the user's password gets disclosed.
3. User Verification processes:
Opening an account with Zerodha is a fully secure online process. While opening an account with Zerodha, the clients are asked for their government documents including their Pan card, and the application is digitally e-signed by the user after proper verification is done through Aadhar.
4. Vast userbase and Recognition:
Zerodha has established a vast user base of 100,00,000+ users on their platform. Zerodha users contribute to over 15% of the daily total retail order volumes in India which is a vast number for any particular brokerage company.
Zerodha has also received the Best Indian Stock Broker Award from the National Stock Exchange (NSE) and the Bombay Stock Exchange(BSE) and is featured in various media articles including Forbes for its outstanding services.
Hence, Zerodha is undoubtedly a trustworthy platform for stock trading and investing in various commodities. What are your reviews? Do you think Zerodha is a safe and trustworthy stock broker? Feel free to share your feedback.
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Discussion (0)
When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
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