Why is Zerodha so famous?
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- Updated On:02-Oct-2023
- Replies:1
Short Answer
Zerodha was launched in 2010 in India. Since then it has attracted almost 2.5Mn users due to its features and modern products.
Detailed Answer
Nitin Kamath founded Zerodha in 2010. It is a trading service platform that has discounted brokerage and an extremely user-friendly interface.
Currently, more than 2.5Mn people are actively trading on it. If we judge it based on the volume of trade, then it is the largest in India.
The reason why it is so famous is because the founder thought about the issues faced by people while trading. He himself lost a lot of money in 2001-2002 due to a loss in stock trade.
After that came a recession in 2008, in which most of the people suffered including Kamath.
It was then he thought that Indians needed something that was different from regular trading platforms and the services they provide.
He pinpointed some major issues due to which the youth never traded in stock. It was a high brokerage fee.
Zerodha has a policy of keeping people first and then profit. And that is why people are trading more and this ratio includes a lot of the younger generation.
Both the website and application are easy to use, hassle-free, and have comparatively less brokerage.
It has more of a Google-like vibe. Thus, people are quite comfortable and trustworthy.
Modern Features Introduced by Zerodha
In order to keep up with the tech-savvy people, **Zerodha **has launched many interesting products in the market. Here are some brief facts about them.
1. Console
It is basically the dashboard of a user on Zerodha. All kinds of reports and detailed analyses are given on the Console.
2. Kite
Kite is an investment platform that uses the latest technology to make trading in the stock market simple and easy.
3. Kite Connect API
It is the most famous product of Zerodha. It mainly targets independent investors to help them create a trading platform through algorithms.
4. Sentinel
Sentinel is for customizing market alerts. You can use any factor like price, quantity, or even interest rate. So whenever there is any fluctuation you will get a notification. The best part is that you can use Sentinel without having to open a Zerodha account.
5. Varsity
A common problem with traders is that they aren’t able to predict when to buy/sell due to a lack of information. Thus, Zerodha introduced Varsity. It eliminates the issue by providing all the necessary facts about the stocks you like.
6. Coin
Lastly, there is Coin. If you ever want to purchase mutual funds but with zero commission, then Coin is the right product for you. Through it, you can buy and get the mutual funds delivered into your demat account.
Thus, Zerodha has created quite an impact on the minds of traders and opened a new set of opportunities for them in the investment sector. It is mainly because they charge less brokerage and keep on bringing more features.
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Discussion (0)
You might have read about different stock brokers in India. Here I'll review two of the most popular discount brokers in India: 5Paisa v/s Zerodha Comparison.
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.
Zerodha was incorporated in the year 2010 by Nitin Kamath, an entrepreneur. The idea behind the firm was to offer high quality services to a huge chunk of population at low cost, and Zerodha is very well known as pioneer of discount model in India.
I was just going through some stock broker reviews. So, I thought of sharing my opinion, A side by side Comparison of two popular stock brokers: Sharekhan vs. Zerodha.
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No, Zerodha does not offer a virtual trading platform to its clients. However, if you want to access simulated trading, there is a platform called "Streak", a partner of Zerodha. Zerodha's trading platform is primarily aimed at engaged market participants.