India's retail trading landscape is evolving, with a notable shift towards leveraged products, as highlighted by Zerodha Founder and CEO Nithin Kamath. The company's Margin Trading Facility (MTF) book has expanded to nearly ₹7,400 crore since its significant growth post-2022. Kamath pointed out that while cash market activity has stagnated, the derivatives segment, particularly options trading, has seen explosive growth since 2020. MTF allows investors to buy stocks by paying only a fraction of the total value upfront, with brokers funding the remainder. While this can amplify gains in a rising market, it also increases potential losses in volatile conditions. Kamath cautioned traders to consider brokerage costs, which can quickly erode profits from leveraged positions, emphasizing that many overlook these expenses in favor of tracking interest rates. Despite being a late entrant in the MTF segment, Zerodha has captured 5% of the market share, demonstrating the growing appetite for leveraged trading among retail investors.