Zerodha doubling fees for select intraday trades? Who will be impacted?
Kamath said that the obvious thing would have been that many brokers charge a % fee on the day the account goes into debit.
- Mar 25, 2026,
- Updated Mar 25, 2026 2:46 PM IST
In a move that could signal a broader shift in the brokerage landscape, Zerodha is reportedly set to double its brokerage fees for specific intraday derivatives trades starting April 1.
According to an ET report, the country’s leading brokerage firm will increase the charge to Rs 40 per order, up from the current Rs 20, for certain high-leverage transactions.
The price hike specifically targets traders who fail to meet the Securities and Exchange Board of India’s (SEBI) margin requirements. Under the rules, traders must maintain at least 50% of their margin collateral in cash or cash equivalents, such as fixed deposits or bank guarantees, for both intraday and overnight positions, the report said.
Meanwhile, earlier on company’s website, Zerodha CEO Nithin Kamath said, “The amount of collateral that people have kept with us, on which they take margin to trade, has gone up like bonkers. Also, since we started MTF, the book has gone up to over 5k crores in a short time.”
Market veteran Rakesh Bansal on X, said that the ‘doubling the fee’ only occurs when a trader is trading intraday F&O and their collateral (pledged shares etc.) is more than 50% of the margin.
“Currently, Zerodha bridges this gap using its own funds without charging clients,” ET report said. From the new financial year, any intraday futures and options (F&O) trades funded by the broker due to a cash shortfall will attract the higher Rs 40 fee.
“If you keep at least 50% cash margin as per SEBI rules, you still pay only the normal ₹20 per order. No change!" Bansal said.
The decision comes as the 2026 Union Budget proposed an increase in the Securities Transaction Tax (STT) on futures to 0.05% and on options premiums to 0.15%, effective April 1.
Kamath said that the obvious thing would have been that many brokers charge a % fee on the day the account goes into debit.
“But we realised the impact due to that would be a lot more than charging a higher brokerage for the trades done only when your account is in debit, or you not having atleast 50% in cash when trading on collateral,” Kamath wrote earlier in company’s website.
Who stays unaffected?
The fee hike is surgical in its application. It will not apply to: Intraday trading in cash stocks, delivery-based equity trades, mutual fund investments and traders who maintain the mandatory 50% cash-to-collateral ratio.
Bansal said, “goal is to follow SEBI’s 50% cash margin rule more strictly and keep costs low for everyone.”
In a move that could signal a broader shift in the brokerage landscape, Zerodha is reportedly set to double its brokerage fees for specific intraday derivatives trades starting April 1.
According to an ET report, the country’s leading brokerage firm will increase the charge to Rs 40 per order, up from the current Rs 20, for certain high-leverage transactions.
The price hike specifically targets traders who fail to meet the Securities and Exchange Board of India’s (SEBI) margin requirements. Under the rules, traders must maintain at least 50% of their margin collateral in cash or cash equivalents, such as fixed deposits or bank guarantees, for both intraday and overnight positions, the report said.
Meanwhile, earlier on company’s website, Zerodha CEO Nithin Kamath said, “The amount of collateral that people have kept with us, on which they take margin to trade, has gone up like bonkers. Also, since we started MTF, the book has gone up to over 5k crores in a short time.”
Market veteran Rakesh Bansal on X, said that the ‘doubling the fee’ only occurs when a trader is trading intraday F&O and their collateral (pledged shares etc.) is more than 50% of the margin.
“Currently, Zerodha bridges this gap using its own funds without charging clients,” ET report said. From the new financial year, any intraday futures and options (F&O) trades funded by the broker due to a cash shortfall will attract the higher Rs 40 fee.
“If you keep at least 50% cash margin as per SEBI rules, you still pay only the normal ₹20 per order. No change!" Bansal said.
The decision comes as the 2026 Union Budget proposed an increase in the Securities Transaction Tax (STT) on futures to 0.05% and on options premiums to 0.15%, effective April 1.
Kamath said that the obvious thing would have been that many brokers charge a % fee on the day the account goes into debit.
“But we realised the impact due to that would be a lot more than charging a higher brokerage for the trades done only when your account is in debit, or you not having atleast 50% in cash when trading on collateral,” Kamath wrote earlier in company’s website.
Who stays unaffected?
The fee hike is surgical in its application. It will not apply to: Intraday trading in cash stocks, delivery-based equity trades, mutual fund investments and traders who maintain the mandatory 50% cash-to-collateral ratio.
Bansal said, “goal is to follow SEBI’s 50% cash margin rule more strictly and keep costs low for everyone.”