Zerodha vs Sharekhan
Zerodha and Sharekhan offer a useful comparison of a pure-play discount broker against a full-service broker operating under international ownership. Zerodha was founded in 2010 and is India’s largest retail broker by active clients. Sharekhan was founded in 2000 by Shripal Morakhia, became one of India’s earliest online brokers, and was acquired by France’s BNP Paribas in 2016. It operates today as a BNP Paribas subsidiary offering full-service equity broking, derivatives, mutual funds, and extensive research.
Data reflects May 2026; verify current charges at zerodha.com/charges and sharekhan.com before transacting.
Background
Sharekhan Limited was incorporated in 2000 and built one of India’s first large-scale retail equity platforms, combining online trading with a franchise branch network. The BNP Paribas acquisition in 2016 brought the firm under a global banking group. Sharekhan operates a network of branches and franchises across India, giving it physical reach in smaller cities. Its NSE active client count has declined over the 2019-2024 period as investors have migrated to lower-cost platforms, and it stood at approximately 0.5 to 1 million active clients in late 2024.
Brokerage charges
Sharekhan operates primarily on a percentage-of-turnover model, with plan options that vary by client type:
| Charge head | Zerodha | Sharekhan |
|---|---|---|
| Equity delivery | Zero | 0.50% (standard plan) |
| Equity intraday | Rs 20 or 0.03% | 0.10% (standard) |
| Equity options | Rs 20 flat | Rs 100 per lot (standard) |
| Account opening | Zero | Rs 0-599 (plan-dependent) |
| Demat AMC | Rs 300/year | Rs 400-700/year |
| Call-and-trade | Rs 50/order | Included; no surcharge |
Sharekhan’s delivery brokerage at 0.50 per cent per side and options brokerage at Rs 100 per lot are meaningfully higher than Zerodha’s equivalents (zero and Rs 20 respectively). The firm offers discounted plan structures for high-volume clients, but entry-level pricing is substantially above discount broker rates.
Three-in-one account
Sharekhan supports a three-in-one-type linkage for clients with IDBI Bank accounts and has partnership arrangements with certain banks, though this integration is not as tightly coupled as HDFC Securities or ICICI Direct. Zerodha links to any bank via IMPS.
Research and advisory
Sharekhan employs one of the larger retail broker research teams in India, publishing daily, weekly, and thematic equity reports, sector analyses, and trading ideas. This research is available to all clients without additional charge and is a meaningful differentiator from Zerodha, which provides no in-house research. The firm’s research portal at sharekhan.com/knowledge-centre is one of the more comprehensive in the Indian retail brokerage sector.
Trading platforms
Zerodha’s Kite is the primary comparison point. Sharekhan offers Trade Tiger (desktop application for active traders), Sharekhan app (mobile), and sharekhan.com (web). Trade Tiger is one of the older-generation retail desktop platforms in India; it provides Level-2 data, charting, and technical analysis tools. User reviews have generally rated Kite ahead of Sharekhan’s platforms for usability.
Physical network
Sharekhan operates approximately 2,900 franchises and branches across India. For investors who want in-person support, this network is a relevant advantage. Zerodha has no physical locations.
Summary comparison table
| Dimension | Zerodha | Sharekhan |
|---|---|---|
| Founded | 2010 | 2000 |
| Headquarters | Bengaluru | Mumbai |
| Parent | Private | BNP Paribas |
| NSE active clients (approx.) | ~7 million | ~0.5-1 million |
| Delivery brokerage | Zero | 0.50% (standard) |
| Options brokerage | Rs 20 flat | Rs 100 per lot |
| Demat AMC | Rs 300/year | Rs 400-700/year |
| Research | None | Extensive (SEBI RA) |
| Physical branches | None | ~2,900 franchises |
| Call-and-trade | Rs 50 surcharge | Included |
See also
- Zerodha
- Zerodha vs ICICI Direct
- Zerodha vs HDFC Securities
- Full-service vs discount broker
- Discount brokers in India
- Indian retail brokers comparison
References
- Zerodha charge schedule. zerodha.com/charges (accessed May 2026).
- Sharekhan charge schedule. sharekhan.com (accessed May 2026).
- NSE active client data. nseindia.com (accessed May 2026).
- SEBI SCORES grievance data, Q3 FY 2025. sebi.gov.in.