Zerodha clients can now trade commodities using their existing equity account balance, eliminating the need for a separate commodity account.
The update, a “legacy issue,” was long overdue, wrote founder & CEO Nithin Kamath on X.
“Now, you can trade commodities using the same equity account balance without maintaining a separate commodity account. This was a legacy issue that took us a long time to address,” Kamath said.
“As part of this process, we are also surrendering the Zerodha Commodities Pvt Ltd license on exchanges where we weren’t active, i.e., the NSE”.
The update marks a consolidation of Zerodha’s services under its primary membership, Zerodha Broking. “We have started allowing customers to move to Zerodha Broking even if they are trading commodities,” Kamath added.
How to Activate Commodity Trading on the Kite App:
- Tap on User ID.
- Go to Profile.
- Select Segments.
- Choose Commodity and tap Continue.
- Provide Gross income, Trading experience, and Commodity trade classification.
- Upload income proof or select holdings statement as income proof.
- Tap on the undertaking and choose mobile or email for OTP.
- Enter the OTP and tap Verify.
This integration aims to enhance user experience by simplifying account management and trading processes.
Zerodha has been in the spotlight recently due to technical glitches affecting order placements, which sparked user frustration on social media. The brokerage has since fixed the issues, but this wasn’t the first instance of such problems, as a similar glitch occurred in June.
With this latest update, Zerodha is reportedly taking a significant step towards improving its offerings and addressing long-standing user concerns.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.