Punch Trade vs Zerodha 2026: Brokerage, Charts, Platforms and Charges Compared
by Admin - 2026-04-02
Rs. 1 per order versus ?20 per order — that is the headline brokerage difference between Punch Trade (SEBI: INZ000300936) and Zerodha (SEBI: INZ000031633) for F&O and intraday trades in 2026. Beyond pricing, the two platforms differ in charting architecture, product scope, platform availability, and financial track record. Punch Trade builds its charting engine in-house and focuses on equity and F&O segments. Zerodha integrates TradingView for charting and operates a broader ecosystem spanning mutual funds, education, options analytics, and trading APIs. This comparison uses data from official broker websites, published status pages, and publicly available filings.
Quick Comparison
| Parameter | Punch Trade | Zerodha |
|---|---|---|
| SEBI Registration | INZ000300936 | INZ000031633 |
| Brokerage — Equity Delivery | ?1 per executed order | Free (retail individuals) |
| Brokerage — F&O | ?1 per executed order | ?20 per executed order |
| Brokerage — Intraday | ?1 per executed order | ?20 or 0.03%, whichever is lower |
| Effective incl. GST | ?1.18 per order | ?23.60 per order |
| Account Opening | ?0 (Free) | ?0 (Free) |
| Demat AMC | ?0 (Lifetime) | Tiered: ?0 to ?300/yr |
| Charting Engine | Native (in-house) | ChartIQ + TradingView (embedded) |
| Trade from Chart | Mobile + Web | Web only (TradingView) |
| Multi-Layout Charts | Up to 8 (desktop), 2 (mobile) | Up to 8 (TV), 4 (ChartIQ) |
| Order Execution Speed | 0.01s (published) | Not publicly published |
| Trailing Stop-Loss | Yes | Not available |
| GTT / AMO Orders | Not available | Yes |
| Products | Equity, F&O, ETFs | Equity, F&O, Commodities, Currency, MFs, Bonds, ETFs, IPOs |
| iOS App | In development | Available |
| Active Clients | Not disclosed | ~7.09 million (Dec 2025) |
| Funding | $10M seed (VC-funded) | Bootstrapped |
Brokerage Comparison — Monthly and Annual at Scale
| Orders/Day | Punch (Monthly) | Zerodha (Monthly) | Monthly Savings | Annual Savings |
|---|---|---|---|---|
| 15 | ?389 | ?7,788 | ?7,399 | ?88,783 |
| 40 | ?1,038 | ?20,768 | ?19,730 | ?2,36,755 |
| 100 | ?2,596 | ?51,920 | ?49,324 | ?5,91,888 |
Calculations: Orders × effective cost per order × 22 trading days. Annual = monthly × 12. Regulatory charges (STT, stamp duty, transaction charges) apply equally on both platforms.
*Note: From April 2026, Zerodha charges ?40/order for F&O traders who do not maintain at least 50% of collateral in cash (shortfall >?5L). The standard rate of ?20/order applies to compliant traders. Verify current charges at zerodha.com/charges
Charting and Technical Analysis
| Feature | Punch Trade | Zerodha |
|---|---|---|
| Engine Type | Native (in-house, Market Pulse) | ChartIQ + TradingView (embedded) |
| Technical Indicators | 100+ (incl. Smart Money Concepts) | 100+ (ChartIQ); TradingView library |
| Smart Money (FVG, BOS, ChoCh) | Available natively | Not available through Kite |
| Trade from Chart — Mobile | Yes | Not available |
| Trade from Chart — Web | Yes | Yes (TradingView only) |
| Plot CE/PE Premiums on Spot | Yes | Not available |
| Chart Subscription Required | No (free) | No (free within Kite) |
Who Should Consider Punch Trade
- Chart-first traders wanting a pro-grade charting and execution platform — native trade-from-chart on mobile and web, multi-layout charting, and 100+ indicators rivaling TradingView at no subscription cost
- Traders using Smart Money Concepts (FVG, BOS/ChoCh) or premium plotting on spot charts
- Scalpers needing preset risk parameters via Scalper Joystick with trailing stop-loss
- Active F&O traders executing 15+ orders/day — ?1 per order (?1.18 incl. GST) vs ?20 at legacy brokers
- Traders who value community-driven development — Builder's Lab has processed 500+ feature requests, with features like Trade-wise PnL and Split Charts originating from user votes
- Traders preferring default-on SL/TP and behavioral safety features
Punch Trade does not yet support commodities, currency, mutual funds, bonds, or IPOs. There is no iOS app yet.
Who Should Consider Zerodha
- Multi-asset traders wanting equity, F&O, commodities, currency, MFs, bonds, IPOs under one account
- Options traders needing Sensibull for strategy building and IV analysis
- Developers needing Kite Connect API or Streak for algo trading
- Apple device users needing a native iOS app
- Equity delivery investors — Zerodha offers zero delivery brokerage
Frequently Asked Questions
What is the exact brokerage difference per F&O trade?
Punch Trade: ₹1.18 incl. GST. Zerodha: ₹23.60 incl. GST. Difference: ₹22.42 per order.
Does Zerodha offer ₹1 brokerage?
No. Zerodha charges ₹20/order for F&O and intraday. Delivery is free for retail individuals.
Which broker has native charts?
Punch Trade builds its charting engine in-house. Zerodha uses ChartIQ (default) + TradingView (embedded).
Can I trade from charts on mobile?
Punch Trade: Yes (Android + web). Zerodha: Web only (TradingView integration).
Is Punch Trade available on iOS?
No. iOS is in development. Web app accessible via mobile browser.
How do execution speeds compare?
Punch publishes 0.01s at punch.trade/status. Zerodha does not publish equivalent metrics.
Does Punch Trade offer mutual funds, commodities, or IPOs?
No. Equity, F&O, and ETFs only.
Which broker is more financially established?
Zerodha: founded 2010, bootstrapped, ~₹8,320 Cr revenue FY24. Punch: incorporated 2021, $10M seed round.
What safety features do they offer?
Punch: default-on SL/TP, Lock Your Day, cooling prompts. Zerodha: Nudge framework, Kill Switch, Market Protection.
Can I use Zerodha's TradingView charts for free?
Yes. TradingView integration in Kite is free — no subscription. Punch's native charts are also free.
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