Hyderabad: Zerodha, a brokerage firm, said it has crossed a userbase of eight lakh across India and the past year has seen a growth of 300 per cent, according to Karthik Rangappa, Vice-President, Educational Services, Zerodha.
He said it became the largest retail broker in India by turnover and largest standalone direct mutual fund platform through its Coin.
Coin is India first direct mutual fund and equity platform that allows the customers buy mutual funds online directly from the asset management companies.
The mutual fund bought through Coin will be in demat from, with convenience of one portfolio across equity, mutual fund and currency. Coin allows customers to start, stop or modify systematic investment plans anytime. The first Rs 25,000 worth investments would be free.
He said Coin has facilitated over Rs 1,000 crore worth of investment till now. “Buying mutual funds directly is the best option. SIP of Rs 5,000 monthly invested for 25 years in direct versus the distributor can potentially save Rs 28 lakh as commissions,” he said.
In Telangana, Zerodha has two branches and two partner office in Hyderabad and services about 42,000 clients, he said.