Is ZERODHA a best choice for Indian users?

Zerodha is an Indian stockbroker founded in 2010 to build a high-tech trading platform, and there are 1.5 million active accounts on the Zerodha platform. Zerodha is currently an unregulated broker. Zerodha, address is 153/154, 4th Cross, J.P Nagar 4th Phase, Opp. Clarence Public School, Bengaluru - 560078

Accounts & Leverage of Zerodha

Zerodha offers investors two account options, namely Demat & Trading Account and the Commodities Account. The former is mainly used for trading stocks and currency pairs, while the latter is for trading commodities.

Trading Platforms Available of Zerodha

Zerodha offers traders an online trading platform, the main advantages of which are user-friendliness, ease of use, having clear fee reports, and good search function. Then again, the platform also has some obvious disadvantages, a two-step login, and limited customization.

Deposit and withdrawal

Zerodha only supports traders to fund their investment accounts using bank transfers, while the currently popular credit/debit cards are available. Zerodha does not charge any fees to its clients for withdrawals.

Customer service

Zerodha offers a +91 080 4718 1888 phone number where customers can get in touch with the company. Additionally, the firm provides two email addresses: press@zerodha.com and complaints@zerodha.com.

The main advantages of Zerodha are:

1. Wide variety of tradable assets

2. No fees for withdrawals & deposits

3. No minimum deposit limits

The main Disadvantages of Zerodha are:

1. No regulation

2. No demo accounts offered

3. Slow process of accounts-opening

4. Limited withdrawal methods, no credit card available

5. Only Indian clients accepted

Reviews

At first, we search for this broker on Wikifx. We discovered it has a very low rating out of 10 and is not a regulated broker. We checked its reviews on the Internet. We found all the comments are negative. People are criticizing the broker. Here are the screenshots of it. These all are red flags. Stay away from it.

Conclusion

It is highly advisable to choose a regulated authentic broker over an unregulated one. Regulated brokers are subject to strict rules and regulations set by the governing bodies, ensuring the safety of your investments. On the other hand, unregulated brokers operate without any oversight, making them more prone to fraudulent activities. Therefore, it is crucial to do your research and select a broker that is regulated by a reputable authority to protect your investments.

Wikifx is a platform that can help you in various ways. It provides you with in-depth information on forex brokers, their regulations, authenticity and services. You can use Wikifx to compare different brokers and select the one that suits your needs. To expand your knowledge and stay informed about the forex market. Download Wikifx app on your phones. Here is the Link to the download: https://www.wikifx.com/en/download.html