Zerodha copy trading review
Zerodha is a popular broker in India. Zerodha Broking Limited is a financial firm with headquarters in Mumbai, Maharashtra and several offices across India. The company offers retail brokerage, commodity trading, mutual funds, and bonds as its primary products.
Zerodha copy trading is not widespread; however, the broker does offer copy trading services on its platform. This article will discuss how to copy trades on Zerodha, the Zerodha copy trading minimum deposit, and the costs of Zerodha copy trading. The Traders Union will also talk about some of India's best copy trading platforms.
How to copy trade on Zerodha
Copy trading is allowed on Zerodha; however, it requires copy trading software. To successfully copy trade on Zerodha, you must have a Zerodha demat account and connect a copy trading software. Copy trading software or an API will connect one copy trading account to another.
Once you’ve created a demat account on Zerodha and connected the copy trading software or API, you’ll need to connect the trader account you want to copy to your own account.
Zerodha copy trading minimum deposit
Zerodha has no minimum deposit requirement, as it requires no money to open and maintain an account. However, when using copy trading software and connecting your copy trading account with Zerodha, there might be a minimum deposit required by the copy trading broker.
Zerodha copy trading costs
Zerodha does not charge a fee per trade; however, it charges a fee on executed orders. If an order is executed in five different trades, it will be regarded as one trade, and Zerodha will charge 0.03% or twenty Indian rupees (Rs 20), whichever is lower. Zerodha also charges a of 0.1% fee on buys and sells when trading equity delivery.
Best copy trading platforms in India
Copy trading platforms in India are registered and regulated by SEBI, ensuring the safety of traders. Zerodha is one of them, but there are many other platforms that offer better services. Here are some best copy trading platforms in India that are worth considering:
IC Markets
IC Markets is well-known for its cost-effectiveness because of its low fees. IC Markets collaborates with AutoTrade, MyFxBook, and ZuluTrade. WhileIC Markets is cost-effective, the minimum required deposit is $200. Top regulators regulate IC Markets in the EU and Australia. A trader can copy trades on IC Markets using ZuluTrade.
InstaForex
InstaForex is one of the first platforms to offer copy trading. It is still popularly known as the best copy trading platform for beginners, requiring a minimum deposit of $10 to get started. It has about 300 instruments and six types of commissions, and this broker is best for every experienced trader.
InstaForex is regulated in the Virgin Islands and Saint Vincent. However, due to its regulators being offshore, InstaForex is considered less reliable. InstaForex lets a trader see other traders’ ratings on the platform, their capital, account balance, number of open trades, total capital gain, and average daily balance gain. It provides a trader with a lot of information to make decisions. Additionally, you can check the profitability of the signal provider to decide if they are the best trader to copy.
FXTM
FXTM first offered copy trading services in 2016 and has been a highly user-friendly platform since. Beginners can grasp the mechanism of the platform quickly. It has 250 instruments and lets traders copy trades in Forex, stocks, and CFDs. However, the platform requires $100 to start copy trading, which might be a massive amount for beginners.
It also shows the risk parameters and profitability so that traders can make better trading decisions. You can also see the average daily loss and win, maximum breakdowns, good days, and total trading days of traders. FXTM is a regulated platform since it has financial licenses from Cyprus, the UK, and South Africa.
FAQ
What is Zerodha?
Zerodha is a broker that is best known for its retail brokerage service. Since 2010, this platform has been headquartered in Mumbai, Maharashtra, and has many offices across India. It provides commodity trading, mutual funds, and copy trading. It is a purely Indian-originated and regulated broker.
Is copy trading easy in India?
Copy trading is easy to learn but has many risks. You must choose the best regulated copy trading platform in India to copy trades. Moreover, you need a little experience in trading to be able to copy trades efficiently.
Can we copy trade without cost in India?
Copy trading might seem accessible in India; however, every broker has hidden fees. According to the research of Traders Union, eToro provides free trading services, but it still charges a standard fee.
Is Zerodha regulated in India?
Zerodha is regulated and supervised by SEBI. SEBI makes sure that Zerodha follows guidelines and is safe for Indian traders.
Team that worked on the article
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.