MUMBAI: Zerodha could turn out to be the disruptive force in the world of Indian stock broking as Uber and Ola have been in the hail-a-taxi business. Come Tuesday, clients of the Bengalurubased discount broking firm will not need to pay brokerage fees for buying or selling shares through its platform. This is the first time an Indian brokerage has decided to forgo fees for facilitating client trades, a move that could evokes an aggressive response from some rivals.The ‘zero brokerage’ structure will be restricted to cash trades and not futures and options, said Nithin Kamath, chief executive of Zerodha.“We have not been able to grow exponentially. We add 5,000-6,000 clients every month but that is not enough. Hopefully, zero brokerage will double this count,” he told ET, claiming that there is ‘no catch’ in this concept. Currently, most large firms charge 0.5-1% as brokerage for a leg of trade.This means, if a client buys shares worth Rs 1 lakh, she pays a brokerage of Rs 500-1,000. For larger clients, the fee could go as low as 0.3%. Smaller broking firms charge brokerage of as low as 0.1%. So far, discount broking firms like Zerodha and RKSV, among others, have charged flat fees of Rs 15-20 per trade for cash and equity derivative trades.“I am confident we will be able to attract both retail investors and traders because zero brokerage will keep their breakeven levels lower,” said Kamath. The losses in brokerage revenue will be partly compensated by a premium product offering to its institutional clients, he said.“We have estimated that the revenue losses could be roughly 10-15%,”said Kamath. The unlisted firm reported about Rs 70 crore revenue in 2014-15, almost double the previous year.Rival brokerage firms are miffed with Zerodha’s aggressive pricing strategy with one official calling the move ‘short-sighted’. “This is not a sustainable business model. At the end of the day, clients should result in revenues,” said the managing director of a large retail brokerage. The chief executive of a rival brokerage said Zerodha will be in trouble if its business model succeeds as others could make trading in futures and options free.“Over 75% of Zerodha’s volumes are from F&O and others will move in to capture that,” the chief executive said.