Panaji
Zerodha, India’s first online discount brokerage firm, recently visited Goa to lure investors. while announcing the launch of its web-based multilingual trading portal that will enable traders to trade in ten different languages.
The portal, named KITE, will allow trading in languages such as Marathi, Hindi, Gujarati, Kannada, Tamil, Punjabi, Odiya, Bengali, Malyalam and Telugu.
What sets Zerodha apart from other brokerage companies like ICICI Direct and Sharekhan is the fact that Zerodha charges no brokerage on buy and sale of shares and mutual funds through its online platform.
When asked the reason behind this, Shubhayu Bhol, associate vice president-sales, Zarodha, said, “We are an online brokerage service, while other brokers have office-space. This means we don’t have our branch-offices and we end up saving on overheads like rent etc, which we can pass on to people who trade through us”
However, for intra-day buy and sale of shares and future & options transactions, the company charges maximum Rs 20 brokerage per trade. This means that there is no brokerage on buy and sale of shares, if the holding period is more than a day.
Bhol added, “There is no turnover commitment either. Our platform is really for common people”. This means that the platform is available to anyone no matter what is the turnover amount. Besides, there is no upfront fees either.
Goa is the youngest market for Zerodha. At present, the company has its support office in Davorlim Madgaon, with further plans to set up offices across the state in coming months to meet the ever growing client requirements. These offices are the locations of its partners, who in turn get business for the company.
Zerodha’s multi-lingual trading platform is called KITE. It provides live streaming prices for all shares, mutual funds and futures and options. It even has 99 advanced technical analysis indicators and five years of free historical data for all stocks.
