AxisDirect announces ZERO brokerage in Options Trading

AxisDirect ( in a rather surprising move has slashed its Options brokerage rates to ZERO in Options Intraday (same day sq. off) and to Rs. 10/lot in Options Carry forward effective Aug 1. This disruptive pricing is going to shake-up the industry as these prices make AxisDirect literally the cheapest in the Industry! For the first time, a full service broker has taken the discount broker move and slashed its brokerage by more than 90% when compared to its peers –

ICICI Direct – Rs. 100/lot

HDFC Sec – Rs. 100/lot

Kotak Sec – Rs. 100/lot

AxisDirect – 1 paise/lot (Intraday) & Rs. 10/lot (carry-forward)

Even the discount brokers like Zerodha are now more expensive as compared to AxisDirect. Zerodha charges Rs. 20 per order i.e. Rs. 40 on Options Intraday (Buy+Sell) whereas AxisDirect is literally free with 1 paise per lot. This move will woo millions of new as well as existing clients to try the high leverage Options market, destabilizing legacy broking players.

With this move AxisDirect shakes up the untapped options market for retail traders like never before.

You buy ten lots at axis and zerodha for carry forward and compare

Lets see what zerodha going to do

Guess it’s just a promotional offer.

In terms & condition they have a point “AxisDirect reserves its right to withdraw the offer at any time without prior notice”

Note the word “withdraw the offer”.

Once you open the account, after quarter it will be back to regular rate.

Even in zerodha terms and condition ,you will find this word “withdraw the offer”

Even zerodha can withdraw 20 per option lot anytime and start taking 50 per option lot. There is nothing like “guarantee” word …
Any company can withdraw any offer at any point of time with/without prior notice


If some traders were curious on the AxisDirect zero brokerage advert for Options Trading.

First, they are not disclosing their Leverage for Intraday Option Trading anywhere on their website.

I called them up , they confirmed they do not provide any margin for derivative trading.

So the offer is like, If you are a crorepati, they help you save a few hundreds.

1 Like

I don’t think they intend to get into discount broking - their brokerages for delivery based trading is 0.5% and for intraday equity/futures is at 0.05%. It reduces to 0.2/0.02 based on upfront brokerage payments.

I don’t think we will be reducing brokerage any more. Working at the scale that we are at (largest contributor of retail trading volumes on exchange), I can tell you it would make no business sense to offer at any lesser. If the business doesn’t earn, how will it sustain? The fight in the future will be over who offers better platforms - our focus is all on that now. This is what will help retail traders/investors and hopefully also grow the number of participants in India.


Nithin, Why, just limit to Pi when it comes to desktop Trading Platforms ? We, some zerodha traders, get a feeling that further development of Pi is questionable. Why not release different desktop platforms too, so traders can make a slow transition ?

As a business, we’ve seen 95%+ of our users move to web and mobile platforms, a trend that’s not exclusive to Zerodha. While we continue to maintain Pi, investing heavily into inhouse desktop platforms given this trend is difficult.

Moreover, much has changed with web technologies (like HTML5) over the last few years and desktop trading platforms today may not necessarily have any material advantages over their well designed web counterparts. New technologies like WebAssembly that are coming out will further blur the lines between desktop and web. The upcoming update to Kite (3.0), our web based platform, should bring significant feature and performance benefits over desktop platforms.

This is one of the reasons why a lot of our R&D is focused on our API ecosystem, so that existing platforms out there and upcoming ones can integrate with us, be it web, desktop, or mobile. We’re also constantly on the lookout for innovative startups that are in this space and we have some talks happening.

PS: Answered by K (Kailash), our tech godfather. :slight_smile:


@nithin - are you thinking of using Trading View as the terminal to trade as mentioned in this thread? Superiority of Trading View over Kite

If not, could you elaborate on the practical difficulties Zerodha has for doing so?

If possible please revise brokerage for intraday future and option as it is same for intraday and delivery

1 Like

Nitin sir, iam on your side…lowering below ₹20 for FNO seems Meaningless but one thing you much definitely do for FNO lover is introduction of Greek folios…as Zerodhas main source of income are FNO trader , here it must be the moral duty of Zerodha to work for the FNO trader.
Thank you.