Zerodha vs Groww Comparison - Fees, Features, POV (2024 Winner)

In this guide, we will compare Zerodha vs Groww share brokers in India. This article will help you clarify which stock broker is good for you.

Key Highlights

Target audience: Groww is a good choice for beginner and casual investors for its simple platform and low fees, while Zerodha is a great option for more active traders who require advanced features and research tools.

Trading and investment options: Groww offers a limited range of options compared to Zerodha. Zerodha covers equities, derivatives, commodities, currency, IPOs, and more.

Fees and charges: Groww generally has lower account opening and maintenance charges, but its flat fee per trade might not be the most cost-effective option for high-frequency traders. Zerodha offers free equity delivery trades and has more flexible pricing based on volume.

Customer support: Zerodha seems to have more comprehensive customer support options, including phone and branch support, while Groww offers email and chat support.

In case you are in hurry and want a quick comparison of Zerodha vs Groww, here it is:

When comparing Zerodha vs Groww, both are well-known names in the Indian brokerage industry. Groww follows a commission-free model for mutual fund investments and charges a flat fee for intraday trading and delivery-based equity trades.   

On the other hand, Zerodha is known for its low-cost brokerage model. It offers zero brokerage charges for equity delivery trades. For intraday trading, it charges a flat fee or a percentage-based fee, depending on the trading segment.

Is Zerodha Better Than Grow?

Zerodha vs Groww Comparison - Fees, Features (2024 Winner)

As of September 2023, Groww reported 6.63 million active investors, while Zerodha reported 6.48 million investors.

Groww’s rise in popularity due to no account opening and and annual maintenance charges.

Groww positioned itself as a platform with a primary focus on attracting new customers.

Zerodha vs Groww – Revenue Comparison

During FY23, Zerodha reported a 39 per cent growth in revenue at Rs 6,875 crore compared with the previous financial year, whereas Groww’s parent company, Nextbillion Technology Private Limited, recorded a revenue of Rs 1,294 crore in FY23. Despite the growth in number of users, Zerodha’s revenue is five times that of Groww.

Zerodha’s revenue is higher than Groww due to the dominance in the Futures and Options (F&O) trading. The F&O segment has been highly profitable for Zerodha.

Source: Groww vs Zerodha

Zerodha vs Groww Overview

About Groww

Groww is a Discount Broker incorporated in 2016. It offers trading at NSE and BSE. It has 0 branches across India. Groww started as a mutual fund investment platform and has expanded its offerings to include stocks, digital gold, and other investment options. It allows users to invest in direct mutual funds, stocks, IPOs, and exchange-traded funds (ETFs).

Grow trading account opening charges are Rs 0 (Free) and Grow Account AMC Charges are also Rs 0 (Free).

About Zerodha

Zerodha is a Discount Broker incorporated in 2010. 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.

Zerodha account opening charges are Rs 200 and Zerodha Demat Account AMC Charges are Rs 300 annually.

Would you like to know my honest review on Zerodha Stock Broker? Zerodha Reviews 2023: Is Zerodha Good For Beginners In India? Honest Review

Let’s read in detail about Zerodha vs Groww

Zerodha vs Groww Basic Information

Particulars	Groww	Zerodha
Founders	Lalit Keshre	Nithin Kamath
Year of Incorporation	2016	2010
Type of Broker	Discount Broker	Discount Broker
Exchange Membership	NSE and BSE	NSE, BSE, MCX and NCDEX
Number of Branches	0	22
Headquarter	Bangalore, India	Bangalore, India

Point of View: Groww primarily operates as an online investment platform, so it doesn’t have physical branches like other traditional stock brokers, whereas Zerodha has several physical branches and partner offices across India to provide customer support and assistance.

Zerodha vs Groww Trading & Demat Account Opening Charges

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).

Groww offers Free (Zero) account opening where Zerodha charges Online Rs 200 (Equity +Currency) and Rs 300 (Equity +Currency +Commodities) for account opening.

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.

Groww Demat Account AMC Charges is Rs 0, whereas Zerodha charges Rs 300 per annum AMC for Demat account.

Particulars	Groww	Zerodha
Trading Account Opening fee	Rs 0 (Free)	Online Rs 200 (Equity +Currency), Rs 300 (Equity +Currency +Commodities)
Trading Account AMC Charges	Rs 0 (Free)	Rs 0 (Free)
Demat Account Opening Charges	Rs 0 (Free)	Rs 0 (Free)
Demat Account AMC Charges	Rs 0 (Free)	Rs 300 per annum

Point of View: Groww focused on making investing accessible to newcomers and eliminating the fees associated with account opening and annual maintenance, which attracted many investors, where Zerodha trading broker introduced the concept of a discount brokerage, offering lower brokerage fees

Zerodha vs Groww Brokerage Charges

Account Type	Groww Brokerage Charges	Zerodha Brokerage Charge
Equity Delivery	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 .03% whichever is lower
Equity Futures	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
Currency Futures	NA	Rs 20 per executed order or .03% whichever is lower
Currency Options	NA	Rs 20 per executed order
Commodity Futures	NA	Rs 20 per executed order or .03% whichever is lower
Commodity Options	NA	Rs 20 per executed order

Point of View: Groww gained popularity due to its user-friendly and commission-free investment platform, where as Zerodha became popular for its disruptive approach to brokerage services with the concept of a discount brokerage, offering lower brokerage fees compared to traditional brokers.

Use Zerodha Brokerage Calculator to get estimation of Zerodha Brokerage

Zerodha vs Groww other charges

Other Brokerage Charges	Groww	Zerodha
Minimum Brokerage Charges	Rs 20 or 0.05% per executed order	0.03% in Intraday and F&O
DP Charges (on sell side)	Rs 8 + Rs 5.50 (CDSL Charges) per ISIN	Rs 13.5 per scrip
Other Miscellaneous Charges	Physical Contract Note: Rs 20 + Courier Charges; Auto square off charges : Rs 50	Physical contact notes: Rs 20, Trade SMS Alerts: Rs 1 per SMS

Zerodha vs Groww Transaction Charges

Transaction Charges	Groww	Zerodha
Equity Delivery	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%) \| 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: 002%	NSE Rs 190 per Cr (0.0019%)
Equity Options	NSE: 0.053% on premium	NSE Rs 6250 per Cr (0.0625%) (on premium)
Currency Futures	NA	NSE Rs 90 per Cr (0.0009%) \| BSE Rs 25 per Cr (0.00025%)
Currency Options	NA	NSE Rs 3500 per Cr (0.035%) \| BSE Rs 100 per Cr (0.001%) (on premium)
Commodity	NA	Group A – Rs 260 per Cr (0.0026%)

Zerodha vs Groww Leverage (Margin)/Equity Exposure

Leverage (Margin)/Equity Exposure	Groww	Zerodha
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 Groww And Zerodha Features

Features	Groww	Zerodha
3 in 1 Account	No	Yes
Charting	Yes	Yes
Automated Trading	Yes	Yes
SMS Alerts	Yes	No
Online Demo	Yes	Yes
Online Portfolio	Yes	No
Margin Trading Funding	No	No
Margin Against Shares (Equity Cash)	No	Yes
Margin Against Shares (Equity F&O)	No	Yes
Trading Platform	Groww	Kite Web, Kite Mobile for Android/iOS and Coin
Intraday Square-off Time	3:10 PM	Eq Cash: 3:15 PM \| Eq F&O : 3:25 PM \| Currency: 4:45 PM

Point of View: If you are a new or casual investor looking for a simple and user-friendly platform primarily for mutual fund investments and basic stock trading, Groww may be a suitable choice. On the other hand, if you are an active trader, require advanced charting and analysis tools, are interested in algorithmic trading, or need extensive SMS alerts, Zerodha may be a better fit.

Customer Support – Compare Zerodha vs Groww

Customer Service Compare	Groww	Zerodha
24/7 Customer Service	No	No
Email Support	Yes	Yes
Online Live Chat	Yes	No
Phone Support	Yes	Yes
Toll Free Number	No	No
Through Branches	No	Yes
Customer Care Number	9108800604	“+ 91 80 4040 2020”
Customer Support Email	support@groww.in	support@zerodha.com
Head Office Address	Groww Head Office 1st Floor, Proms Complex, SBI Colony, 1 A Koramangala, 560034	Zerodha Headquater #153/154 4th Cross Dollars Colony, Opp. Clarence Public School, J.P Nagar 4th Phase, Bangalore – 560078
Website	https://groww.in/	https://zerodha.com/
Broker Enquiry	Request a call back	Request a call back

Zerodha Vs Groww Investment Options

Investment options	Groww	Zerodha
Stock / Equity	Yes	Yes
Commodity	No	Yes
Currency	No	Yes
IPO	Yes	Yes
Mutual Funds	Yes	Yes
Bond / NCD	No	No
Debt	Yes	No
Other Investment Options	Digital Gold, US Stocks, Fixed Deposits	–

Zerodha Vs Groww Research Report

Research Report	Groww	Zerodha
Daily Market Report	No	No
Free Tips	No	No
Quarterly Result Analysis	No	No
News Alerts	No	No

Zerodha vs Groww – Pros and Cons

	Groww	Zerodha
Pros	· Zero Account opening fee. · Zero Maintenance Charges. · Direct MF investment platform Option to invest online in digital gold and US Stocks.	· You can open a 3-in-1 account, Demat + Trading + Bank A/c. · Flat fee of Rs. 20 per trade across segments and exchanges (BSE, NSE, MCX). · Free equity delivery trades. No brokerage charges for Cash-N-Carry orders. · Zero brokerage and direct investment in direct mutual funds on Coin. · Superfast and feature-rich web and app trading platform Kite. · Free UPI-based hassle-free 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.
Cons	· No option to currently trade in derivatives (futures & options), commodity, and currency segment. · Doesn’t offer trading in SME shares. · No Call and Trade services. · No Branch support. · No Margin trading facility. · No Margin against shares. · Trailing stop loss orders are not available No NRI Trading.	· 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.