Zerodha brokerage structure overview

Mon, 11 May 2026 00:00:00 +0000

Overview

Zerodha operates a flat-fee brokerage model that departed from the percentage-of-turnover convention dominant among Indian brokers when the firm launched in 2010. Under this model, the brokerage component of a trade’s cost is either zero (for equity delivery) or capped at a flat Rs 20 per executed order across all other segments. The total amount debited from a client’s account, however, is substantially larger because several statutory levies – securities transaction tax, exchange transaction charges, GST, stamp duty, and the SEBI turnover fee – are collected on top of brokerage and remitted to the relevant governmental or regulatory authorities.

SEBI Turnover Fee on WebNotes

Zerodha brokerage structure overview

Overview