Zerodha vs Groww Comparison – Fees, Features (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

ParticularsGrowwZerodha
FoundersLalit KeshreNithin Kamath
Year of Incorporation 20162010
Type of Broker Discount BrokerDiscount Broker
Exchange Membership NSE and BSENSE, BSE, MCX and NCDEX
Number of Branches 022
HeadquarterBangalore, IndiaBangalore, 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.
ParticularsGrowwZerodha
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 TypeGroww Brokerage ChargesZerodha Brokerage Charge
Equity Delivery Rs 20 per executed order or 0.05% whichever is lowerRs 0 (Free)
Equity Intraday Rs 20 per executed order or 0.05% whichever is lowerRs 20 per executed order or .03% whichever is lower
Equity Futures Rs 20 per executed orderRs 20 per executed order or .03% whichever is lower
Equity Options Rs 20 per executed orderRs 20 per executed order
Currency Futures NARs 20 per executed order or .03% whichever is lower
Currency Options NARs 20 per executed order
Commodity Futures NARs 20 per executed order or .03% whichever is lower
Commodity Options NARs 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 ChargesGrowwZerodha
Minimum Brokerage ChargesRs 20 or 0.05% per executed order0.03% 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 ChargesPhysical 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 ChargesGrowwZerodha
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 premiumNSE Rs 6250 per Cr (0.0625%) (on premium)
Currency Futures NANSE Rs 90 per Cr (0.0009%) | BSE Rs 25 per Cr (0.00025%)
Currency Options NANSE Rs 3500 per Cr (0.035%) | BSE Rs 100 per Cr (0.001%) (on premium)
Commodity NAGroup A – Rs 260 per Cr (0.0026%)

Zerodha vs Groww Leverage (Margin)/Equity Exposure

Leverage (Margin)/Equity ExposureGrowwZerodha
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

 FeaturesGrowwZerodha
3 in 1 Account NoYes
Charting YesYes
Automated Trading YesYes
SMS Alerts YesNo
Online Demo YesYes
Online Portfolio YesNo
Margin Trading Funding NoNo
Margin Against Shares (Equity Cash) NoYes
Margin Against Shares (Equity F&O) NoYes
Trading Platform GrowwKite Web, Kite Mobile for Android/iOS and Coin
Intraday Square-off Time 3:10 PMEq 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 CompareGrowwZerodha
24/7 Customer Service NoNo
Email Support YesYes
Online Live Chat YesNo
Phone Support YesYes
Toll Free Number NoNo
Through Branches NoYes
Customer Care Number 9108800604“+ 91 80 4040 2020”
Customer Support Email support@groww.insupport@zerodha.com
Head Office Address Groww Head Office 1st Floor, Proms Complex, SBI Colony, 1 A Koramangala, 560034Zerodha 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 EnquiryRequest a call backRequest a call back

Zerodha Vs Groww Investment Options

 Investment optionsGrowwZerodha
Stock / Equity YesYes
Commodity NoYes
Currency NoYes
IPO YesYes
Mutual Funds YesYes
Bond / NCD NoNo
Debt YesNo
Other Investment Options Digital Gold, US Stocks, Fixed Deposits

Zerodha Vs Groww Research Report

 Research ReportGrowwZerodha
Daily Market Report NoNo
Free Tips NoNo
Quarterly Result Analysis NoNo
News Alerts NoNo

Zerodha vs Groww – Pros and Cons

 GrowwZerodha
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.

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Hey, I'm Soniya Luthra (founder of financefundaa.com), a Chartered Accountant and seasoned stock market expert with extensive experience in trading and fundamental analysis. As an active participant in the market, I'm passionate about using my expertise to provide clear, actionable insights and guidance, helping readers make informed financial decisions.

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