In this guide, we will compare Upstox vs Zerodha share brokers in India. This article will help you clarify which stock broker is good for you.
In case you are in hurry and want a quick comparison of Upstox vs Zerodha, here it is:
While comparing Upstox vs Zerodha, Zerodha is a discount broker in India and charges a flat fee of Rs. 20 per trade across segments, irrespective of the trade value.
Upstox also offers discounted brokerage rates ranging from Rs. 20 to Rs. 30 per trade. In terms of brokerage charges, Zerodha has a slight edge.
Zerodha vs Upstox Overview
About Zerodha
Incorporated in 2010, Zerodha is a Discount Broker. It offers trading at NSE, BSE, MCX and NCDEX. It has 22 branches across India. Zerodha is primarily a discount brokerage firm that offers a wide range of investment services. It provides trading and investment options in stocks, mutual funds, commodities, currency derivatives, bonds, and more.
The account opening charges for Zerodha are Rs 200, and Zerodha imposes an annual AMC (Annual Maintenance Charge) of Rs 300 for its Demat Account.
About Upstox
Incorporated in 2012, Upstox is a prominent online discount brokerage firm in India. It offers a platform for trading in various financial instruments, including stocks, commodities, derivatives, and more. It offers trading at BSE, NSE, MCX. It has 4 branches across India.
Upstox trading account opening charges are Rs 0 (Free) and Upstox Account AMC Charges are also Rs 0 (Free).
| Particulars | Zerodha | Upstox |
| Founders | Nithin Kamath | Ravi Kumar |
| Year of Incorporation | 2010 | 2012 |
| Type of Broker | Discount Broker | Discount Broker |
| Exchange Membership | NSE, BSE, MCX and NCDEX | NSE, BSE, and MCX |
| Number of Branches | 22 | 4 |
| Headquarter | Bangalore, India | Mumbai, India |
What is Demat Account?
A Demat account is used for holding securities/shares in electronic form, and the securities are deposited through National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Zerodha charges Online Rs 200 (Equity +Currency) and Rs 300 (Equity +Currency +Commodities) for account opening, whereas upstox Upstox account opening changes is Rs 0 (Free)
What is Demat AMC Charges?
When you open a Demat account with a Depository Participant (DP) or a stockbroker, you are required to pay an annual fee for the maintenance of your Demat account. This fee is known as the Demat AMC charge.
Zerodha AMC charges for demat account is Rs 300 per annum, whereas Upstox Demat Account AMC Charges is Rs 150.
| Particulars | Zerodha | Upstox |
| Trading Account Opening Charges | Rs 200 | Rs 0 (Free) |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 | Rs 0 (Free) |
| Demat Account AMC Charges | Rs 300 | Rs 150 |
Upstox vs Zerodha Brokerage Charges
| Account Type | Zerodha | Upstox |
| Equity Delivery | Rs 0 (Free) | Rs 20 per executed order or 2.5% whichever is low |
| Equity Intraday | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower |
| Equity Options | Rs 20 per executed order | Rs 20 per executed order |
| Currency Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower |
| Currency Options | Rs 20 per executed order | Rs 20 per executed order |
| Commodity Futures | Rs 20 per executed order or .03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower |
| Commodity Options | Rs 20 per executed order | Rs 20 per executed order |
Upstox vs Zerodha other charges
| Other Brokerage Charges | Zerodha | Upstox |
| Minimum Brokerage | 0.03% in Intraday and F&O | 0.05% |
| Other Charges | Physical contact notes: Rs 20, Trade SMS Alerts: Rs 1 per SMS | Auto Square-off Charges: Rs 50 |
| Call & Trade Charges | Rs 50 per executed order | Rs 20 per trade |
Upstox vs Zerodha Transaction Charges
| Type | Zerodha | Upstox |
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (each side) | NSE Rs 325 per Cr (0.00325%) (each side) |
| Equity Intraday | NSE Rs 325 per Cr (0.00325%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE Rs 325 per Cr (0.00325%) (each side) |
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | NSE Rs 190 per Cr (0.0019%) |
| Equity Options | NSE Rs 6250 per Cr (0.0625%) (on premium) | NSE Rs 5000 per Cr (0.050%) (on premium) |
| Currency Futures | NSE Rs 90 per Cr (0.0009%) | BSE Rs 25 per Cr (0.00025%) | NSE Rs 90 per Cr (0.0009%) | BSE Rs 22 per Cr (0.00022%) |
| Currency Options | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) | NSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium) |
| Commodity | Group A – Rs 260 per Cr (0.0026%) | Group A – Rs 290 per Cr (0.0029%) |
Upstox vs Zerodha Leverage (Margin)/Equity Exposure
| Leverage (Margin)/Equity Exposure | Zerodha | Upstox |
| Equity Delivery | 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) |
| F&O (Equity, Currency, Commodity) | 100% of NRML margin (Span + Exposure) (1x leverage) | 100% of NRML margin (Span + Exposure) (1x leverage) |
Compare Zerodha And Upstox Features
| Features | Zerodha | Upstox |
| 3 in 1 Account | No | No |
| Charting | Yes | Yes |
| Automated Trading | Yes | No |
| SMS Alerts | No | No |
| Online Demo | Yes | Yes |
| Online Portfolio | No | No |
| Margin Trading Funding | No | Yes |
| Margin Against Shares (Equity Cash) | Yes | No |
| Margin Against Shares (Equity F&O) | Yes | Yes |
| Trading Platform | Kite Web, Kite Mobile for Android/iOS and Coin | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola |
| Intraday Square-off Time | Eq Cash: 3:15 PM, Equity F&O : 3:25 PM, and Currency: 4:45 PM | 3:00 PM |
Customer Support – Compare Zerodha with Upstox
| Customer Service | Zerodha | Upstox |
| 24/7 Customer Service | No | No |
| Email Support | Yes | Yes |
| Online Live Chat | No | Yes |
| Phone Support | Yes | Yes |
| Toll Free Number | No | No |
| Through Branches | Yes | Yes |
| Customer Care Number | “+ 91 80 4040 2020” | +91 22 6130 9999 |
| Account Opening Process | Online/Paperless | Online/Paperless |
| Customer Support Email | support@zerodha.com | support@upstox.com |
| Knowledge Center/Education | https://zerodha.com/varsity/ | https://upstox.com/help-center/ |
| Head Office Address | Zerodha Headquater #153/154 4th Cross Dollars Colony, Opp. Clarence Public School, J.P Nagar 4th Phase, Bangalore – 560078 | Upstox Corporate Office Sunshine Tower, 30th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 013 |
| Website | https://zerodha.com/ | https://upstox.com/ |
| Broker Enquiry | Request a call back | Request a call back |
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Upstox vs Zerodha Investment Options
| Investment Options | Zerodha | Upstox |
| Stock / Equity | Yes | Yes |
| Commodity | Yes | Yes |
| Currency | Yes | Yes |
| IPO | Yes | Yes |
| Mutual Funds | Yes | No |
| Bond / NCD | No | No |
| Debt | No | No |
Upstox vs Zerodha Research Report
| Research Reports | Zerodha | Upstox |
| Daily Market Report | No | No |
| Free Tips | No | No |
| Quarterly Result Analysis | No | No |
| News Alerts | No | No |
Upstox vs Zerodha – Pros and Cons
| Zerodha | Upstox | |
| Pros | · 3-in-1 account, i.e., Demat + Trading + Bank A/c. · Flat brokerage fee of Rs. 20 per trade across segments and exchanges. · Free equity delivery trades. No brokerage charges for Cash-N-Carry (CNC) orders. · Direct investment and Zero Brokerage in direct mutual funds on Coin. · Superfast and feature-rich web and app trading platform Kite. · Free UPI-based fund transfer process. · Advanced order types, such as bracket order (BO), cover order (CO), after-market order (AMO), and GTT are available. NRI Trading account is available. | Zero account opening fee. Zero brokerage and direct investment for Mutual Funds. Flat Rs 20 per trade brokerage across all other segments. Margin Trading Facility (MTF) is available at interest rate of Rs 20 per day for slabs of Rs 40,000. You can avail margin against share Online IPO, FPO, Bonds, and NCD’s are available. Good-Till-Triggered (GTT) orders are available. |
| Cons | · No stock tips, research, and recommendations. · High Call & Trade is charged an extra Rs 50 per order. · High Auto Square off is charged at an extra Rs 50 per order. No margin funding. | No margin funding for delivery trades. Doesn’t offer stock tips or recommendations. No 3-in-1 account facility. Doesn’t offer API access for automated trading. No NRI trading. No BTST (Buy Today Sell Tomorrow) calls Doesn’t offer digital gold. Automatic settlement charges an additional Rs 50 per executed order. Intraday square-off at 3 PM, where Zerodha allows square off at 3:15 PM. |
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