How To Use Zerodha Referral Code “ZQF906” Open Free Account For First Year

If you are looking to start your stock market investment journey with India’s largest and most trusted discount broker, Zerodha offers an excellent opportunity to save on initial costs. By using the referral code ZQF906 during signup, new users can open a free trading and demat account for the first year. This article provides a complete step-by-step guide to help you claim this benefit.

What is Zerodha?

Zerodha is India’s largest stockbroker with over 1.5 crore active clients, known for its low-cost structure, transparent pricing, and powerful trading platforms like Kite . The platform revolutionized Indian broking by introducing a flat-fee model and has grown primarily through customer referrals and word-of-mouth publicity rather than advertising . Zerodha is particularly popular among beginners and long-term investors because it charges zero brokerage on equity delivery trades, making it ideal for wealth building over time .

Understanding Zerodha’s Account Fee Structure

Before using the referral code, it helps to understand Zerodha’s standard fee structure :

The referral code ZQF906 waives the standard ₹200-₹300 account opening fee and also eliminates the AMC for the first year, giving you complete access to Zerodha’s ecosystem at zero initial cost .

Benefits of Using Referral Code “ZQF906”

By applying the referral code ZQF906 during registration, you unlock the following benefits :

What Happens to the Referrer?

It is important to note that due to recent NSE regulations, Zerodha no longer offers cash payouts or brokerage sharing for referrals . Instead, the referrer earns 300 Reward Points for each successful referral, which can be used to waive their own AMC or unlock premium subscriptions for tools like Tickertape, Tijori, and Smallcase .

Step-by-Step Guide to Use Referral Code “ZQF906”

Follow these steps carefully to claim your free account for the first year :

Step 1: Visit the Zerodha Signup Page
Go to the official Zerodha website at zerodha.com/open-account or download the Kite app from the Google Play Store (Android) or Apple App Store (iOS) .

Step 2: Enter Your Mobile Number and Email
Start the registration process by entering your mobile number and email address. You will receive an OTP for verification .

Step 3: Enter the Referral Code
During the registration process, locate the field labeled “Referral Code” or “Invite Code.” Carefully type or paste ZQF906 into this box . This is the most critical step—entering the code correctly ensures your account opening fee and first year AMC are waived.

Step 4: Complete KYC Verification
To activate your account, complete the mandatory Know Your Customer (KYC) process. Keep the following documents ready :

• PAN card (mandatory)
• Aadhaar card linked to your mobile number
• Bank account details and cancelled cheque
• Signature image on plain paper

The process includes Aadhaar e-sign using OTP and in-person verification (IPV) via webcam .

Step 5: Complete the Payment (If Any)
Normally, Zerodha charges ₹200 to ₹300 for account opening. However, with the referral code ZQF906, this fee is completely waived . You should see ₹0 as the payable amount at checkout.

Step 6: Account Approval and Activation
Once you submit your application, Zerodha typically takes 1-2 working days for verification and approval . You will receive your login credentials via email and SMS.

Step 7: Start Investing with a Free Account for the First Year
After your account is approved, you can immediately start investing in stocks, ETFs, and mutual funds . Your account will remain free for the first year, with no AMC charges.

What You Get Access To

Using the referral code gives you complete access to Zerodha’s full ecosystem :

• Kite – Fast and intuitive trading platform for web and mobile
• Coin – Direct mutual fund investments with zero commissions
• Console – Back-office reports, portfolio tracking, and P&L analysis
• Varsity – Free stock market educational modules for beginners
• Advanced Charting Tools – Technical analysis with multiple indicators

Who Should Use This Referral Code?

This referral code is perfect for :

• Beginners