INDmoney is the new app for investing in mutual funds and stocks. This platform allows users to invest in foreign stocks as well. On the other side, there are many other market leaders in the field of stock market brokers like Zerodha. Here we going to simplify this for you and give you a detailed comparison of INDmoney vs Zerodha. In this review, you will know which app you should consider for investing and which one is safe to use and best for trading. We will cover the pros and cons of both platforms. So, stay tuned here and read the full information.
INDmoney vs Zerodha, Which App is Best to Use For Investing?
INDmoney was launched in the year 2019. Currently, INDmoney has over 50 lakh users as of 2023. Its founder Ashish Kashyap announced the number of active users through his LinkedIn account. INDmoney allows you to start trading without any account opening fees or withdrawal fees This app is known for providing ultimate products in the world of investing and trading. People can invest in foreign stocks through this app and it is a Sebi-registered broker as well working in India. The growth of INDmoney’s massive growth in the past years is an impressive thing about them.
Zerodha has reported more than 34 lakh active users on its platform till 2021. The number has been increased to above 70 lakh users (approx) as now in 2023. It has been launched in the year 2010. Zerodha is one of the top discount brokers in India with zero advertisements. They have different products on their platform like mutual fund investment, sip, intraday, option trading, delivery trading, and much more. Zerodha was founded by two brothers Nikhil Kamath and Nitin Kamath. Currently, Zerodha has over ₹1 crore to ₹2 crore market cap in the stock broker industry.
Brokerage, TAX, and Other Charges
| Benefits ✅ | INDmoney | Zerodha |
| AMC (Annual Maintainance Charges) | Free | ₹75 quarterly (₹300 annually) |
| Account Opening Charges | Free | Free |
| Brokerage (Equity Delivery) | 0.05% or ₹20 per executed order whichever is lower | ₹0 |
| Brokerage (Equity Intraday) | 0.05% or ₹20 per executed order whichever is lower | 0.03% or ₹20 per executed order whichever is lower |
| Brokerage (Equity Futures) | ₹20 per executed order | 0.03% or ₹20 per executed order whichever is lower |
| Brokerage (Equity Options) | ₹20 per executed order | ₹20 per executed order |
| Commodity Futures | N/A | 0.03% or ₹20 per executed order whichever is lower |
| Commodity Option | N/A | ₹20 per executed order |
| Currency Futures | N/A | 0.03% or ₹20 per executed order whichever is lower |
| Currency Options | N/A | ₹20 per executed order |
| Taxes | ✅ | ✅ |
| GTT | ✅ | ✅ |
| Future & Option | ✅ | ✅ |
| Mutual Fund | ✅ | ✅ |
| SIP in (Stocks & Mutual Funds) | ✅ | ✅ |
AMC [Annual Maintainance Charges]
INDmoney offers free account opening for every user. This is a major attraction for the new investors. Along with it, the AMC (annual maintenance charges) is also free. INDmoney users don’t have to pay annual maintenance charges (AMC).
Zerodha offers free account opening for users which encourages new investors in the market. Also, if any new investor has no knowledge then it will be a major benefit from them. It is absolutely free to create a Demat account with Zerodha and start investing in stocks, mutual funds, etc. While the annual maintenance charges (AMC) are ₹75 quarterly (₹300 annually).
INDmoney vs Zerodha Which is Reliable to use and Trustworthy
INDmoney is a trusted app and SEBI-registered broker. This is a legitimate platform to invest in foreign stocks, mutual funds, and other investment options. This was founded by Ashish Kashyap in the year 2019. So far, the app gained a huge number of users which is above 50 lakhs right now. Till now there no major fraud or scam reported by anyone (as of October 2023). The application has 50L plus downloads and 4.4/5 ratings on Google Play Store. INDmoney gaining massive attention through collaboration with influencers as well.
Zerodha is a well-known discount broker in India. Nikhil Kamath and Nitin Kamath started this discount broker service when other brokers charged very high brokerages. Zerodha is the oldest discount broker with technologically advanced features in its services on the web and application. Zerodha users use Kite which is the official web version and smartphone application for trading and investing. If you are looking to start investing as a beginner then Zerodha might be a good choice because of its reliability and trustworthiness of over 13 years.
INDmoney vs Zerodha Reviews, Ratings
INDmoney has over 4.4/5 ratings on the Google Play Store. There are numerous users who wrote an impressive review after using the app. Some of the users reported problems which is a usual thing for every platform. Currently, INDmoney has more than 50 lakh users which is not an ordinary thing.
Zerodha is the oldest discount broker in India. The platform offering services since 2010. It is amazing to see there is a huge number of investors using Zerodha which makes the platform so much reliable and trustworthy. Zerodha has a 4.0/5 rating on Google App Store and over 1 crore downloads. The easy-to-use interface makes the platform easier for new investors. Users can trade, manage, and close positions through its easy-to-use application Kite by Zerodha.