When it comes to the question “Which is the best stock broker among Upstox vs Groww vs Zerodha and why? then one main thing that we all should consider on priority is the charges and fees associated with these stock broking platforms.
In this guide, we have investigated and performed an indepth review of Upstox vs Groww vs Zerodha Charges that will surely help help investors make an informed decision.
A quick Comparison of Upstox vs Groww vs Zerodha
| Upstox vs Groww vs Zerodha Comparison | Upstox | Groww | Zerodha |
| Suitability | Suitable for both beginners and experienced traders. | Suitable for beginners | Suitable for experienced traders |
| Brokerage Charges | Flat brokerage fees for most trades | No brokerage fees for equity delivery and intraday trades | Flat brokerage fees for most trades, similar to Upstox. |
| Trading and Investment options | Upstox provides trading options in equities, commodities, futures, and options. | Groww primarily focuses on mutual funds. It also offers direct equity investment options. | Zerodha allows trading in equities, commodities, futures, options, and more. |
| User Interface and Ease of Use | It offers a user-friendly interface with a range of features. | It offers simple, user-friendly, and easy-to-navigate platform. | It offers a robust and feature-rich trading platform. |
| Other | Known for its reliability and security | Limited range of trading options compared to Upstox and Zerodha. | Considered the largest discount broker in India, known for reliability. |
Compare Other Stock Brokers
Also Check: 7 Best Youtube Channels For Trading In Stock Market Beginners In India 2024
It’s recommended to try out demo accounts by booking a request with the brokers to get a better understanding of each platform before making a decision.
| Particulars | Upstox | Groww | Zerodha |
| Open account | https://upstox.com/ | https://groww.in/ | https://zerodha.com/ |
| Broker Enquiry | Request a call back | Request a call back | Request a call back |
Upstox vs Groww vs Zerodha – A brief overview
| Particulars | Upstox | Groww | Zerodha |
| Founders | Ravi Kumar | Lalit Keshre | Nithin Kamath |
| Year of Incorporation | 2012 | 2016 | 2010 |
| Type of Broker | Discount Broker | Discount Broker | Discount Broker |
| Exchange Membership | NSE, BSE, and MCX | NSE and BSE | NSE, BSE, MCX and NCDEX |
| Number of Branches | 4 | 0 | 22 |
| Headquarter | Mumbai, India | Bangalore, India | Bangalore, India |
| Desktop and mobile trading platform | Kite | Upstox New | Groww app |
| Official Website | https://upstox.com/ | https://groww.in/ | https://zerodha.com/ |
Upstox vs Groww vs Zerodha Trading & Demat Account Opening Charges
| Particulars | Upstox | Groww | Zerodha |
| Trading Account Opening Charges (one-time) | Rs 0 (Free) | Rs 0 (Free) | Online Rs 200 (Equity +Currency), Rs 300 (Equity +Currency +Commodity ) |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account Opening Charges (one-time) | Rs 0 (Free) | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account AMC Charges (per annum) | Rs 150 | Rs 0 (Free) | Rs 300 |
| Broker Enquiry | Request a call back | Request a call back | Request a call back |
Zerodha charges INR 200 for opening trading account, whereas Upstox and Groww offers free trading opening account.
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Upstox vs Groww vs Zerodha Brokerage Charges
Zerodha and Upstox offer similar rates, i.e., Flat brokerage fees for most trades while Groww stands out for not charging any brokerage fees for equity delivery and intraday trades.
| Account Type | Upstox | Groww | Zerodha |
| Equity Delivery | Rs 20 per executed order or 2.5% whichever is low | Rs 20 per executed order or 0.05% whichever is lower | Rs 0 (Free) |
| Equity Intraday | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order or .03% whichever is lower |
| Equity Futures | Rs 20 per executed order or 0.05% whichever is lower | Rs 20 per executed order | Rs 20 per executed order or .03% whichever is lower |
| Equity Options | Rs 20 per executed order | Rs 20 per executed order | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or 0.05% whichever is lower | NA | Rs 20 per executed order or .03% whichever is lower |
| Currency Options | Rs 20 per executed order | NA | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or 0.05% whichever is lower | NA | Rs 20 per executed order or .03% whichever is lower |
| Commodity Options | Rs 20 per executed order | NA | Rs 20 per executed order |
Upstox vs Groww vs Zerodha other charges
| Other Brokerage Charges | Upstox | Groww | Zerodha |
| Minimum Brokerage | 0.05% | Rs 20 or 0.05% per executed order | 0.03% in Intraday and F&O |
| Auto Square off Charges | Rs 50 Per Executable Order | Rs 50 Per Executable Order | Rs 50 Per Executable Order |
| Call & Trade Charges | Rs 20 per trade | Physical Contract Note: Rs 20 + Courier Charges; Auto square off charges : Rs 50 | Rs 50 per executed order |
Upstox vs Groww vs Zerodha Transaction Charges
| Type | Upstox | Groww | Zerodha |
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (each side) |
| Equity Intraday | NSE Rs 325 per Cr (0.00325%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 300 per Cr (0.003%) (each side) | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (sell side) |
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | NSE: 002% | NSE Rs 190 per Cr (0.0019%) |
| Equity Options | NSE Rs 5000 per Cr (0.050%) (on premium) | NSE: 0.053% on premium | NSE Rs 6250 per Cr (0.0625%) (on premium) |
| Currency Futures | NSE Rs 90 per Cr (0.0009%) | BSE Rs 22 per Cr (0.00022%) | NA | NSE Rs 90 per Cr (0.0009%) | BSE Rs 25 per Cr (0.00025%) |
| Currency Options | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) | NA | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) |
| Commodity | Group A – Rs 290 per Cr (0.0029%) | NA | Group A – Rs 260 per Cr (0.0026%) |
Upstox vs Groww vs Zerodha (Margin)/Equity Exposure
| Leverage (Margin)/Equity Exposure | Upstox | Groww | Zerodha |
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) | Up to 20% of trade value (5x leverage) |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) |
Frequently Asked Question
Which is the best stock broker among Groww, Zerodha, and Upstox, and why?
If you’re a beginner looking for a simple interface, Groww might be a good choice. If you’re an experienced trader who values a wide range of products and features, Upstox or Zerodha could be suitable options.
