Zerodha Broking Limited is a prominent brokerage firm based in India. It is one of the largest retail stockbrokers in the country, known for its discount brokerage services and innovative online trading platforms.
Although Zerodha copy trading is not very popular, the platform offers copy trading services. TU experts told about minimum deposit, commissions and copy trading on Zerodha.
How to copy trade on Zerodha
Copy trading is possible on the platform but it requires copy trading software. To trade on Zerodha you must have a Zerodha demo account. Copy trading software connects one account to another. After you create an account you need to connect the account you want to copy to your own.
Zerodha copy trading: minimum deposit and costs
Zerodha requires no minimum deposit. However, there might be a minimum deposit requirement from a copy trading broker.
The platform does not charge a fee per trade but it does charge a fee on executed orders. If an order is executed in several different trades it is regarded as one trade. Zerodha charges 0,03% or 20 INR per order. Zerodha also charges a commission of 0.1% fee on buys and sells when trading equity delivery.
Best copy trading platforms in India
Indian copy trading services are regulated by SEBI. Although Zerodha is one of the platforms, there are many others offering better services. Traders Union analysts told about three best copy trading platforms in India.
IC Markets
IC Markets is an Australian-based online forex and CFD broker. It provides trading services to retail and institutional clients globally. IC Markets is well-known for its low fees. IC Markets is regulated by the Australian Securities and Investments Commission (ASIC), which is one of the prominent regulatory authorities overseeing financial services providers in Australia. As a regulated broker, IC Markets is required to adhere to the regulatory standards set by ASIC, which are designed to protect the interests of investors and ensure fair and transparent trading practices. The minimum required deposit on IC Markets is $200. Users can copy trades on the platform using ZuluTrade.
InstaForex
InstaForex is well-known as the best copy trading platform for beginners due to its low minimum deposit and educational materials. The minimum deposit required on InstaForex is $10. The broker offers about 300 instruments and six types of commissions. That is why InstaForex is also the best broker for experienced traders. The broker is regulated by SEC, FCA and ASIC. However, InstaForex is considered less reliable because of its offshore regulators.
On the platform traders can see ratings of each other. This means you can check if the signal provider you choose is trustworthy.
FXTM
FXTM has been well-known as a good and user-friendly platform since 2016. The mechanism of the platform is easily understandable for beginners. On FXTM there are 250 instruments and it is possible to copy trades in Forex, stocks, and CFDs.
On the platform you can also see the risk parameters. This helps to make better decisions in copy trading.
FXTM has financial regulation in the UK, Cyprus, and South Africa. The minimum required deposit is $50.
To sum up, Zerodha is one of the most popular copy trading platforms in India. However, there are other platforms offering better services. Traders Union experts told about three best copy trading platforms: IC Markets, InstaForex, FXTM. All of them are the best for beginners due to their educational materials, understandable mechanism and low fees. On the Traders Union website you can learn more about different brokers and trading platforms. Moreover, on the website it is possible to check the reviews of each platform before you start trading.
