Zerodha co-founder and CEO Nithin Kamath said most retail investors reduce their chances of making profits when they trade more frequently. In a post on X, he said the platform’s brokerage revenue—expressed as a percentage of client funds—is about 20–25% of levels reported by listed peers, which he interpreted as clients trading around 75% less relative to their capital.

Kamath said that, with limited exceptions, increased trading activity tends to correlate with weaker outcomes.

“More activity doesn't mean better returns; it usually means a higher chance of blowing out your account,” he wrote, adding that frequent trading rarely improves profitability for individual investors.

He argued that it is not always in a brokerage platform’s long-term interest to encourage higher volumes, eve

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