HDFC Securities Vs Zerodha Comparison

HDFC Securities is a brokerage house backed by HDFC Bank having a full range of value-added services. But, all the products have a cost and the brokerage fee is charged on a percentage basis.

On the other hand, Zerodha is a discount broker with minimal advisory but charges a brokerage of up to Rs. 20 per executed orders. 

Below is a snapshot of both the brokerages:

HDFC Securities vs Zerodha Brokerage Charges Comparison

The brokerage cost for delivery trades is 0.50% at HDFC Securities. This is very high if you are going to trade large volumes.  

Whereas, Zerodha charges Rs. 0 for delivery trades. 

Equity intraday trades are charged at 0.05% for both buy and sell orders at HDFC Securities. 

So, if your trading volume is Rs. 20 Lakhs in 10 trades (5 buy and 5 sell trades). In such a scenario you will end up paying Rs. 20,00,000 x 0.050 / 100 = Rs. 1,000 in brokerages

Whereas, at a Zerodha, the intraday brokerage is up to Rs. 20 per executed order. Your brokerage would have been 10 trades x Rs. 20 per trade = Rs. 200 only. 

A huge difference in brokerage charges.

HDFC Securities vs Zerodha Demat Account Comparison

#1. Zerodha Demat Account 

Zerodha home

Zerodha is among the best brokerage company in India with the largest client base of 6 million. Zerodha introduced the discount brokerage concept in India. 

Apart from Equity, Currency, and Commodity, you can invest in:

  • IPO
  • Direct mutual funds
  • Bonds and Govt-Securities

Zerodha offers you a whole ecosystem of trading applications/ platforms and cloud-based alert tools like Sentinel.

Brokerage Charges

The best part is that you pay a maximum of Rs. 20 to trade in any segment except equity delivery trades. The equity delivery trades are free.

The rest of the brokerage details are under:

Trading TypeBrokerage Charges
Equity DeliveryRs. 0
Equity IntradayLower of Rs. 20 per executed order or 0.03%
Equity FuturesLower of Rs. 20 per executed order or 0.03%
Equity OptionsRs. 20 per executed order 
Currency Futures and OptionsLower of Rs. 20 per executed order or 0.03%
Commodity F&OLower of Rs. 20 per executed order or 0.03%

Margin Provided

Zerodha allows margin/ leverage on

  • Margin Intraday Square off (MIS) trades,
  • Cover  Orders (CO), and Bracket  Orders (BO) trades

The Margin for Intraday (MIS) is as under;

Trading SegmentsMargins
Equity Delivery1x 
Equity IntradayUp to 5x
F&O (Equity, Currency, and Commodities)1x

Account Opening Charges 

Below are the charges for opening an account with Zerodha;  

ParticularsCharges
Trading and Demat account opening chargesRs. 200
Commodity AccountRs. 100
Trading account annual maintenance chargesRs. 0
Demat account annual maintenance chargesRs. 300

For offline account opening, Zerodha charges a double fee a total of Rs. 600.

Best For

Zerodha is best for regular traders who don’t need a large margin and don’t want to pay high brokerage.

Pros 

  • No brokerage charges for delivery.
  • Fixed & low brokerage irrespective of trade volume.
  • No minimum balance required to open and maintain the account.

Cons

  • Frequent delays and service down during trading hours.
  • The margin provided is low as compared to other discount brokers
  • Does not upfront discloses margin for CO & BO trades 

Also read – Upstox review

#2. HDFC Securities Demat Account 

HDFC Securities 2

HDFC Securities is a full-service broking arm of HDFC Bank where you can invest/ trade-in:

  • Equity
  • Derivatives (Equity, Currency & Commodity)
  • Mutual funds
  • IPO/ FPOs including SME IPO
  • NCD / Bonds
  • ETFs – Gold and Index
  • DIY SIP in Equities

Brokerage Charges

HDFC Securities a percentage-based brokerage charge.  

SegmentBrokerage Charges
Equity Delivery Trades0.50% (for both buy and sell orders) Or a minimum of Rs. 25, Or
a maximum of 2.5% on transaction value (both buy and sell)
Equity Intraday Trades0.05% (for both buy and sell orders) Or a minimum of Rs. 25, Or
a maximum of 2.5% on transaction value (both buy and sell)
Equity Futures0.025% Or a minimum of Rs. 25, Or
Maximum of 2.5% on transaction value (both buy and sell)
Equity OptionsHigher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)
Currency FuturesRs. 12 per contract on each side 
Currency OptionsRs. 10 per contract each side 
Commodity Futures0.020% or minimum Rs.20 per order
Commodity OptionsRs. 100 per lot

Margin Provided

The details of the margins offered segment-wise are not provided on the website. 

HDFC Securities is not transparent in disclosing margin details. A surprising fact is that the broker does not even provide any margin or brokerage calculators on its website. 

Here is what I could collect from different sources.

Trading SegmentsMargins
Equity Delivery1x 
Equity IntradayUp to 5x
F&O (Equity, Currency, and Commodities)1.3x

Account Opening Charges

HDFC Securities offers a 3-in-1, 2-in-1, and 1-in-1 account for traders and investors. 

The account opening charges are under:

ParticularsCharges
Trading Account Opening chargesRs. 999 (if you don’t have an HDFC savings account)
Demat Account Opening chargesRs. 0
Annual Maintenance ChargesRs. 750

However, there is a charge of Rs. 1999 for using the trading platform “Pro Terminal”. 

HDFC Securities also charges Rs. 250 for activating currency derivatives trading in your account.

As a new trader/ investor you need to open a bank account keeping a certain minimum balance with HDFC Bank.

Later you need to pay Rs.1999 for trading platform access and Rs. 250 for trading in currency derivatives. In total the account comes at a high cost.

Best For

HDFC Securities trading and Demat account are best if you trade low volumes, do not mind paying money for services, or are in need of other value-added services. 

Pros 

  • Flexibility to open 3-in-1, 2-in-1 and 1-in-1 account 
  • You have an option to Invest in US Markets
  • The benefit of Voice-Enabled Investing
  • You can “Stock SIP” or “DIY SIP” 

Cons

  • No online account opening
  • Rs. 1999 for using the trading platform “Pro Terminal”. 
  • Rs. 250 charges for activating currency derivatives trading

Check out – Best stock market apps

Zerodha vs HDFC Securities (Comparison Table)

#1. Products and Services

ParticularsHDFC SecuritiesZerodha
TypeFull-Service BrokerDiscount Broker
Can trade-in Stocks, Equity F&O, Currency F&O, and Commodity F&OStocks, Equity F&O, Currency F&O, and Commodity F&O, Bonds, and Govt-Securities
Can invest in Mutual funds, IPO/ FPOs including SME IPO NCD / BondsETFs – Gold and IndexMutual funds, IPO, Bonds
Other Products & ServicesLoan productsInsuranceNPSResearch & Investment AdvisoryPortfolio  Management ServicesNone
Based in  MumbaiMumbai
Branches250+120 and partner offices
Customer SupportThrough calls, e-mails, and branchesThrough calls, e-mails, and tickets
Brokerage PlanNo PlansNo Plans

#2. Brokerage Charges

Brokerage ChargesDetails for HDFC SecuritiesDetails for Zerodha Plan
Equity delivery0.50% (for both buy and sell orders)Rs. 0
Equity Intraday0.05% (for both buy and sell orders)Lower of Rs. 20 per executed order or 0.03%
Equity Futures0.025%Lower of Rs. 20 per executed order or 0.03%
Currency Futures Rs. 12 per contract on each side Lower of Rs. 20 per executed order or 0.03%
Commodity Futures0.020% or minimum Rs.20 per orderLower of Rs. 20 per executed order or 0.03%
Equity OptionsHigher of 1% of the premium amount or Rs.100 per lot (Both Buy & Sell)Rs. 20 per executed order 
Currency OptionsRs. 10 per contract each side Lower of Rs. 20 per executed order or 0.03%
Commodity OptionsRs.100 per lotLower of Rs. 20 per executed order or 0.03%
Call and Trade Facility YesYes
Charges for Call and TradeCharges not disclosedRs. 20 per order

#3. Margin Leverage

Margin FacilityDetails for HDFC SecuritiesDetails for Zerodha Plan
Equity Delivery1x 1x 
Equity IntradayUp to 5xUp to 5x
F&O (Equity, Currency, and Commodities)1.3x1x

#4. Account opening and other charges

Account Opening ChargesHDFC SecuritiesZerodha 
Demat AccountRs. 0Charges for Demat & Trading account is clubbed – Rs.200
Trading AccountRs. 0Charges for Demat & Trading account is clubbed – Rs.200
Demat AMC FeesRs. 750Rs. 300
Commodity AccountRs. 0Rs. 100
Trading Platform access charges Rs. 1999 per yearRs. 0
Account Types3-in-1, 2-in-1 and 1-in-1 account2-in-1 and Zerodha IDFC First Bank 3-in-1 account

#5. Trading platforms and apps

Trading PlatformsPro Terminal (Web-based) Zerodha Kite 3.0Zerodha PI
Cloud Alert ToolNoneSentinel
APIsNoneKite Connect API supports Python, Java, PHP, NodeJS, C#, and .Net.
Trading AppHDFC Securities Mobile AppKite Mobile App

Final Thoughts

Zerodha trading & demat account is best if you need minimal trading support and want to save on trading/ investing costs.

You can pick HDFC Securities if you require research advisory other value-added services like IPO, MF, ETF investment, Loan, Insurance, or PMS services. Remember, at HDFC the brokerages are high and it even charges for trading platforms. 

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