Zerodha's no brokerage policy on equity delivery has allowed its users to save over 25,000 crore, claimed CEO Nithin Kamath in a detailed post on social media platform X.
Expanding on the firm's principles, Kamath said, "One example of us sticking to our philosophy: we still charge zero brokerage on equity delivery trades." He then shared a breakdown of how Zerodha users saved Rs 25,620 crore spanning from 2016 and 2025.
Not having to answer to investors or chase revenue targets is a huge advantage and, honestly, a blessing. It's what has allowed us to stick to our philosophies like not spamming users, not tracking behaviour, not having different pricing for different people, and not doing things… pic.twitter.com/d4UTPM1SCb
— Nithin Kamath (@Nithin0dha) April 16, 2026
Kamath further explained how not having to answer to investors or chase revenue targets is a huge advantage that has helped them stick to their philosophies.
These philosophies, he said, are not limited to zero brokerage but also include not spamming users, not tracking behaviour, not having different pricing for different people, and not doing things that aren't in the interest of customers.
"We're able to (not) do all this because we've never raised external capital. There are no investors to show growth numbers to, no pressure to justify revenue targets. That freedom is something we don't take lightly," Kamath noted in a blog post.
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He also underlined that 25 to 30% of their accounts come from referrals as traders and investors who use Zerodha like what they see and tell their friends and family.
"That number means more to us than most metrics, and we're genuinely grateful for it," Kamath wrote.
Additionally, he said that the only way that they were able to stick to these philosophies by not having to spend on acquiring customers.
"If we were burning money on advertising and incentives, we'd need to find ways to make it back, and that's where the compromises start. We can offer zero brokerage on equity investing, free direct mutual fund investments, and dirt-cheap intraday rates," Kamath underscored.
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