Understanding the HDFC SKY vs. Zerodha points is crucial to choosing between the two online trading platforms. In this article, I will explain all the essential aspects of the two discount brokers, such as the interface, charges, trading applications, and pros & cons.
HDFC SKY vs. Zerodha: Overview
HDFC SKY is a discount broking-based trading platform launched by HDFC Securities Limited this year. It's essential to understand what has led to this application. The launching of HDFC SKY has to do with the declining popularity of HDFC Securities.
HDFC Securities is one of the most expensive trading platforms and currently has no relevance since many discount brokers are in the market. Hence, they developed a new platform based on the discount broking model to fit the space.
The fact that it chose to use an entirely new name instead of sticking to the old name is indeed a very wise decision on the part of HDFC Securities. HDFC SKY comes with a wide range of financial products, which include Equity, Mutual Funds, ETF, US Stocks, Futures and Options, Currency, and Commodity.
Launched in 2010, Zerodha has revolutionized the online broking industry in India in all senses. Even though there were leading online trading platforms like Sharekhan before Zerodha, none succeeded in creating an impact as massive as Zerodha did.
Zerodha offers financial products such as Equity, Mutual Funds, ETFs, Futures and Options, Currency, and Commodity. The platform provides users with multiple order types, brokerage calculators, and multiple watchlists.
Zerodha played a massive role in instilling the belief among people that they can trade on their own. Further, the platform has always put utmost emphasis on keeping its interface exceptionally intuitive for users. Zerodha is considered one of the most reliable online trading platforms in India.
HDFC SKY vs. Zerodha: Interface
HDFC SKY has a cleaner interface than HDFC Securities, which is suitable for beginners. The interface is easy to use, with everything arranged in an organized manner. The interface also has an excellent market overview. Besides, users can use multiple watchlists to manage the different segments.
Zerodha Kite has the cleanest user interface, with everything balanced out. The interface comes with only the essential features. The same holds true for its mobile applications as well.
Even though HDFC SKY seems to have a clean interface, Zerodha has a comparatively cleaner and more intuitive interface.
HDFC SKY vs. Zerodha: Charges
HDFC SKY doesn't charge any fee for account opening. Besides, the platform doesn't charge AMC for the first year. The platform charges an AMC of ₹240 from the second year onward.
The HDFC SKY brokerage charges are as follows:
- Equity Delivery & Intraday: ₹20 or 0.1% (Whichever is Lower).
- All Segment Futures Intraday and Carry Forward: ₹20 or 0.1% (Whichever is Lower).
- All Segment Options Intraday and Carry Forward: ₹20 per order.
Zerodha charges ₹200 for account opening and an AMC of ₹300. Zerodha brokerage charges are:
- Equity Delivery: ₹0 brokerage
- Equity Intraday: Flat ₹ 20 or 0.03% (whichever is lower) per executed order
- Futures and Options, Currency, and Commodity: Flat ₹ 20 or 0.03% (whichever is lower) per executed order for
If we compare, HDFC SKY brokerage charges are slightly higher than those of Zerodha. Besides, it charges a brokerage fee on Equity, while Zerodha has no brokerage charges on Equity.
HDFC SKY vs. Zerodha: Trading Applications
HDFC SKY comes with good web and mobile applications characterized by Tradingview and ChartIQ charting tools, a fast interface, and easy position management.
Zerodha Kite is available as web and mobile applications and is equally usable on all platforms. The app has a clean interface and allows you to choose between Tradingview and ChartIQ charting tools. The interface is always fast and reliable.
HDFC SKY vs. Zerodha: Customer Support
HDFC SKY offers customer support through tickets and FAQs. Zerodha, on the other hand, offers technical assistance through phone and tickets. Besides, Zerodha has good documentation for quick reference.
HDFC SKY vs. Zerodha: Pros & Cons
HDFC SKY Pros:
- Zero account opening charges
- No AMC for the first year
- Wide range of financial products, including US Stocks
- Fast and advanced web and mobile applications
- Tradingview and ChartIQ charting tools
- Multiple order types
HDFC SKY Cons:
- No phone or live chat support
Zerodha Pros:
- High reliability
- Clean and intuitive interface
- Different financial products
- Nominal brokerage charges
- Fast and reliable web and mobile applications
- Excellent customer support
Zerodha Cons:
- No live chat
You may also like to read: HDFC Sec vs. HDFC SKY.
Conclusion
I have walked you through the various crucial aspects of the two discount brokers. As you can see, Zerodha has a leading edge over HDFC SKY in many places.
Most importantly, Zerodha has lower brokerage charges than HDFC SKY and better customer support. I am sure you now have a good understanding of the two platforms.
