Zerodha Coin Review
Zerodha is the number one brokerage firm based out of Banglore, Zerodha works as a flat fee share broker popularly known as Discount brokers, Budget Brokers, or Pay Per Order Brokerage. The said discount broking model avoids variable charges based on the volume and charges flat fees irrespective of volumes, therefore, favors traders who take large futures and options provisions. For Indian residents, Zerodha charges a brokerage of 0.03% or ₹20 per executed order, whichever is lower, irrespective of the number of shares or their value (other than equity delivery trade which is free). In the case of the NRI account, Zerodha charges a brokerage of 0.1% OR Rs. 200 per executed order for equity (whichever is lower) and for Rs. 100 per order for F&O trade. Zerodha charges only Rs. 500 for opening an NRI trading account
Zerodha Coin is India's largest direct mutual fund platform that helps you to buy direct mutual funds online without any commission or Brokerage, directly from asset management companies.
Zerodha has tie-up with more than 40AMCs for mutual fund investment. This platform is available on both web and mobile versions. You can access the web platform (coin.zerodha.com) through login with Kite and its coin mobile app is also available on both – Android and iOS.
Zerodha Coin Advantage & Disadvantage
- No commissions whatsoever on your investment – either upfront or trail
- Direct mutual funds in DEMAT form, with the convenience of one portfolio across equity, MF, currency, etc
- The single capital gain statement, P&L visualizations, and more.
- Easy SIP – start, stop, modify anytime you want.
- NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
- Earlier Zerodha was charging Rs.50 per month for using Coin but now it is completely free, there are no monthly or yearly charges for using the Coin Platform.
- Invest across schemes i.e. equity, hybrid/balanced, debt, FOF, and ELSS category.
- No Depository Charges on redemption of mutual funds.
- You can closely track and monitor the investment portfolio, scheme performance, and current NAV details anytime on the web or mobile trading application.
- Single capital gain statement for different investment entities.
- Lesser Cut-off time, cut-off time to buy/ redeem is strictly 1:30 pm on Zerodha Coin, whereas mutual fund cut-off time for buying range from 2 to 3 pm and for redemption it is 3 pm.
- If you want to switch units from fund A to fund B within the same AMC, you won’t be able to do it with same-day NAV. This is a demerit of having mutual funds in Demat format.
- The credit of funds to bank a/c takes longer after redemption.
- SIPs on Coin are not usual SIP directly from bank a/c. You have to manually transfer funds to Zerodha trading a/c on or a day before SIP or you can keep funds in the Zerodha trading a/cwhich means you lose bank interest on the amount.
- Insta Redeem Liquid funds e.g. Reliance Liquid Growth, Axis Liquid Growth, etc. funds allow you to redeem up to Rs 50,000 or 90% of your invested amount within as early as 30 minutes even at midnight or weekends. Though these funds are available on Coin, you won’t be able to redeem them instantly. It would take T+1 day for redemption (if an order is placed before 1:30 pm).
- You can’t invest in a new Fund Offering of a mutual fund scheme on Zerodha Coin.
- You can’t pledge mutual funds to create a margin that can be used for equity delivery. Also, you can’t avail loan against mutual funds.
Zerodha Coin Features
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Easy of UseYou can Instantly & easily Invest, Pause, and modify your SIPs anytime you want.
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It is very easy to search, navigate the funds, fund category, like equity, debt and liquid funds, etc.
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You can easily check the funds holding in which you are planning to invest this will help you to make an informed decision
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You can quickly buy the mutual fund you want via UPI Payments
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You can create automated fund transfers through eMandates to fund your SIP installments.
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Mutual funds are held in demat form, and thus easier to pledge as collateral for a loan against securities and margin for trading in derivatives and stocks.
Final Thoughts about Zerodha Coin
Zerodha Coin is a revolutionary platform that provides brokerage-free investment in the direct mutual fund which saves a lot of money for investors. This also provides an opportunity to invest in a wide range of schemes portfolio, easy-to-use mobile & web-based platforms, investment on fingertips on coin app, etc.
Frequently Asked Questions:
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1. What is Zerodha Coin?
Zerodha Coin is a Direct mutual fund application which helps you to invest in direct mutual funds online with no commission or brokerage. This is available in both WEB and mobile platforms.
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2. Is Zerodha coin free?
Yes, There are no commission or brokerage charges on buying and selling Direct mutual funds through Zerodha Coin. earlier they used to charge Rs. 50 as a monthly charge for using the COIN platform, now it is also been waived off.
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3. Can I Invest in mutual funds through Zerodha?
Yes, Zerodha provides an opportunity to invest in mutual funds via their platform called Zerodha Coin, which helps you to buy mutual funds directly from AMCs at zero commission & brokerage and These units would be there in you Demat account with Zerodha.
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4. How to buy direct mutual funds on Coin?
- Login to Coin on Web or Mobile.
- Go to Home Page or dashboard where you will see a search bar and can type the name of AMC or funds which you want to invest. as Zerodha provides the facility to invest in Direct Mutual funds only so on the search bar you would only look up direct mutual funds.
- On the mutual fund page, you would be able to see the past performance along with the option to compare the same with other mutual funds.
- At the end of the page you would find a link which helps you to see mutual fund scheme documents with the exact terms and conditions as set out by them.
- To buy a mutual fund - click on Buy direct option - this is for lump sum/one-time investment. You will need to ensure you have sufficient balance in your trading account for the order to get executed.
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5. Can NRI Invest in mutual funds using COIN?
No, currently NRIs aren’t allowed to invest in mutual funds at Zerodha.
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6. How can I start an SIP on Coin?
- Login to Coin on Web or Mobile.
- Go to the Home Page or dashboard where you will see a search bar and can type the name of AMC or funds which you want to invest. as Zerodha provides the facility to invest in Direct Mutual funds only so on the search bar you would only look up direct mutual funds.
- On the mutual fund page, you would be able to see the past performance along with the option to compare the same with other mutual funds.
- At the end of the page, you would find a link that helps you to see mutual fund scheme documents with the exact terms and conditions as set out by them.
- To Start mutual fund SIP- click on Buy direct SIP option - Once you do the order window will open up.
- Enter the initial investment you'd like to make. Select the frequency of your SIP, i.e either weekly, 15 Days, Monthly, Quarterly, and the installment amount for the SIP. You can also select the total number of installments or you can select the until canceled option.
- Then click on ‘Start SIP’ and confirm the order.
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7. Can I apply for an NFO through Coin?
NFO order placement is currently not available on Coin app.but Zerodha provides an alternate method to invest in NFO.
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8. How good is Coin by Zerodha?
Zerodha Coin is a revolutionary platform that provides brokerage free investment in the direct mutual fund which saves a lot of money for investors. We have listed down the advantages of using Zerodha Coin which are as below
- No commissions whatsoever on your investment – either upfront or trail
- Direct mutual funds in DEMAT form, with convenience of one portfolio across equity, MF, currency, etc
- Single capital gain statement, P&L visualizations, and more.
- Easy SIP – start, stop, modify anytime you want.
- NAV tracking orders. Similar to stocks, place orders to purchase or redeem funds based on NAV.
- Earlier Zerodha was charging Rs.50 per month for using Coin but now it is completely free , there are no monthly or yearly charges for using the Coin Platform .
- Invest across schemes i.e. equity, hybrid/balanced, debt, FOF, and ELSS category.
- No Depository Charges on redemption of mutual funds.
- You can closely track and monitor the investment portfolio, scheme performance, and current NAV details anytime on the web or mobile trading application.
- Single capital gain statement for different investment entities.
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