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When we started, we charged an account opening fee because it only attracted customers who were serious about investing. Since then, a lot has changed, like the introduction of Aadhaar, eSign, the influx of younger investors and so on. Charging an account fee certainly doesn't make sense anymore. A... show more

Nithin Kamath

739,999 subscribers

122,611 views • 2 years ago •via X (Twitter)

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11 Comments

Aditya Singhania2 years ago

To Audience - Account opening free because "blah blah blah marketing gimmick..." Actual reason for making account opening free bcoz "Losing market share and fear of losing even 2nd position as a leading broker by the end of this year"

Neetu Khandelwal2 years ago

Good initiative but I think to gain back lost market share you have to make account opening free forever along with glitch free experience. #Groww has become undisputed leader in the segment as in March-2024.

Dr. Rahman 🇮🇳2 years ago

Oh ok. What about refunding the account opening charges from whom you charged earlier?

Zerodha2 years ago

Hi Mafuzur, this applies to new signups only. For accounts that have already been paid or opened, this does not apply, or the fee is refundable.

Vivek Sajjan2 years ago

Hey @Nithin0dha on a lighter note,can we get a refund for the existing accounts!! With the inflation adjustment ?

Zerodha2 years ago

@Nithin0dha

IPO India2 years ago

Purane wale paise do😂

Nongsha Angom2 years ago

With due respect, I think you should refund all the customers for the account opening post 2018. No matter how many reasons you give we retailers know it. Due to the competition and peer pressure where most of the leading brokers are charging zero for the same, example like Dhan, Fyers etc

Raj Konakalla (BlueChipAlgos.com)2 years ago

Instead, charge them and gift equal worth of shares. To make it more interesting, put a spin wheel and make the allotment random.

Miraj | معراج | मिराज | মিরাজ2 years ago

If there is no stock kept on demat then why should there be AMC charges? @zerodhaonline

Zerodha2 years ago

Hi Miraj, whenever the AMC is deducted, your account is checked to see if it meets the BSDA criteria. If you hold only one account across depositories and its value is below the BSDA threshold, the AMC will not be charged.

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When we were starting Zerodha, we didn't have any money to spend on advertising or customer acquisition. So the only real growth lever we had was word of mouth. We had to build products and services that people liked enough to tell their friends and family about. Very early on, people who traded with us started referring Zerodha to their friends, colleagues, and family. As a way of saying thank you, we started our referral program. The idea was simple: if you referred someone to Zerodha, we would share 10% of the brokerage generated by that referral with you, for as long as they traded with us. No ifs and buts. No hidden conditions. And it worked. Until we had to stop the referral program in 2024 due to exchange regulations, close to 30% of our accounts were coming through referrals. But even this understated the true impact of word of mouth. Most people don’t log in to a referral portal or share a referral link. They simply tell a friend, colleague, or family member: “You should open an account with Zerodha. I use it and like it.” Those people then come directly to our website and open an account. So while the attributed referral number was around 30%, the real number was probably well north of 50%. Even after we stopped offering referral incentives, about 15–20% of new accounts continued to come from referrals. That, for us, has always been the biggest validation. We now have regulatory clarity and have restarted referrals. We are also reinstating referral benefits for all old clients who had referred people earlier. This means that anyone who has ever referred clients to Zerodha will get 10% of the brokerage generated by those referrals for as long as they trade with us. You can visit and tell your friends and family about Zerodha. Given that we don’t charge for investing in stocks, ETFs, bonds, and direct mutual funds, and given that AMC is free or nearly zero for most customers under BSDA, there's no reason for you not to refer someone who wants to start saving and investing🙂 Along with Kite, Coin by Zerodha, Console, Varsity, TradingQnA, Tijori, Sensibull - India's No:1 Options Trading Platform, Ditto Insurance, Zerodha Fund House, and the rest of the ecosystem we’ve built around investors and traders, we hope Zerodha remains a good place for your friends and family to begin their investing journey.

When we were starting Zerodha, we didn't have any money to spend on advertising or customer acquisition. So the only real growth lever we had was word of mouth. We had to build products and services that people liked enough to tell their friends and family about. Very early on, people who traded with us started referring Zerodha to their friends, colleagues, and family. As a way of saying thank you, we started our referral program. The idea was simple: if you referred someone to Zerodha, we would share 10% of the brokerage generated by that referral with you, for as long as they traded with us. No ifs and buts. No hidden conditions. And it worked. Until we had to stop the referral program in 2024 due to exchange regulations, close to 30% of our accounts were coming through referrals. But even this understated the true impact of word of mouth. Most people don’t log in to a referral portal or share a referral link. They simply tell a friend, colleague, or family member: “You should open an account with Zerodha. I use it and like it.” Those people then come directly to our website and open an account. So while the attributed referral number was around 30%, the real number was probably well north of 50%. Even after we stopped offering referral incentives, about 15–20% of new accounts continued to come from referrals. That, for us, has always been the biggest validation. We now have regulatory clarity and have restarted referrals. We are also reinstating referral benefits for all old clients who had referred people earlier. This means that anyone who has ever referred clients to Zerodha will get 10% of the brokerage generated by those referrals for as long as they trade with us. You can visit and tell your friends and family about Zerodha. Given that we don’t charge for investing in stocks, ETFs, bonds, and direct mutual funds, and given that AMC is free or nearly zero for most customers under BSDA, there's no reason for you not to refer someone who wants to start saving and investing🙂 Along with Kite, Coin by Zerodha, Console, Varsity, TradingQnA, Tijori, Sensibull - India's No:1 Options Trading Platform, Ditto Insurance, Zerodha Fund House, and the rest of the ecosystem we’ve built around investors and traders, we hope Zerodha remains a good place for your friends and family to begin their investing journey.

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We begin by showing the public balances of the sender and the authority, then we open a raw storage read for the authority’s account. That storage call is System. Account for the authority’s AccountId; it returns the canonical AccountInfo record (SCALE-encoded). The key field is which is the on-chain public balance you also see in Polkadot.js Apps. Whatever appears there is the ledger’s truth for spendable funds. Next, we perform a transfer with zero fee. After it finalizes, we show that only the sender’s public balance changed, the authority’s balance is identical, and the same System. Account read returns the exact same AccountInfo. This confirms no fee was credited publicly. We then repeat the test with a transfer that includes a fee of 100 base units. Once the block finalizes, the authority’s increases by exactly 100. Reading System. Account again makes the change explicit: the storage value itself changed, proving the fee was deposited to the authority’s public balance. This storage query matters because it bypasses any off-chain interpretation: it is a direct read of the canonical state. If System. Account’s free balance changes, the chain has credited funds. Finally, a note on design choices. In this demo the fee is paid publicly, which maximizes auditability and operational simplicity, anyone can verify validator revenue. An alternative is to pay validators as private notes, keeping their income hidden. That improves privacy but adds protocol and operational complexity (note issuance, key handling, and proofs) and reduces straightforward, public auditability. In short: public fees emphasize security and transparency; private fees emphasize privacy but require stronger safeguards and more complex operations.

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🇮🇪🤝🇵🇸The formal recognition of Palestine is a historic day. But it is only the start: We now need sanctions on Israel, a ceasefire, a real peace process and we must see Israel finally held to account for their actions

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29,827 views • 2 months ago

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Nithin Kamath

186,256 views • 2 years ago

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34,647 views • 4 months ago