New Delhi, Oct. 4 -- Zerodha founder and CEO Nithin Kamath has warned that a continuation of the ongoing stock market headwinds may force his brokerage house, which has long pioneered a free platform for its millions of users, may have to start charging fees.

In a recent blog, Nithin Kamath said that Zerodha had suffered a significant 40 per cent drop in its brokerage revenue in the June quarter of FY26, blaming recent regulatory changes that have impacted active options trading.

He said that the options business might be at further risk, with the regulators assessing whether to stop weekly options for good.

"If this were to happen, we would be forced to start charging brokerage for equity delivery trades to make the business tenable. ...