Zerodha vs Groww vs Upstox 2025 - Brokerage Charges, Demat Account Opening Fee
Account Opening Fees
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹200 (Equity) + ₹100 (Commodity) | ₹0 (free) | ₹249 |
Annual Maintenance Charges (AMC)
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹300/year | ₹0 (free) | ₹300/year |
Brokerage for Equity Delivery
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹0 (free) | ₹0 (free) | ₹0 (free) |
Brokerage for Equity Intraday
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹20 per executed order or 0.03% | ₹20 per executed order | ₹20 per executed order |
Brokerage for Option Trading
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹20 per order | ₹20 per order | ₹20 per order |
Brokerage for Futures Trading
| Zerodha | Groww | Upstox |
|---|---|---|
| ₹20 per order | ₹20 per order | ₹20 per order |
Trading Platforms
| Zerodha | Groww | Upstox |
|---|---|---|
| Kite (web, mobile) | Groww App (web, mobile) | Upstox Pro (web, mobile) |
Customer Support
| Zerodha | Groww | Upstox |
|---|---|---|
| Email, phone (business hours) | Email, chat (business hours) | Email, phone (business hours) |
Investment Options
| Zerodha | Groww | Upstox |
|---|---|---|
| Equity, derivatives, commodities, mutual funds, bonds | Equity, mutual funds, US stocks | Equity, derivatives, mutual funds, digital gold |
Research & Advisory Services
| Zerodha | Groww | Upstox |
|---|---|---|
| Basic charts, data | Limited research, news | Basic research, news |
User Interface & Experience
| Zerodha | Groww | Upstox |
|---|---|---|
| Simple, fast interface | Minimalist, easy-to-use design | Clean, user-friendly interface |
Additional Features
| Zerodha | Groww | Upstox |
|---|---|---|
| Coin (direct mutual funds), Console (reporting) | Integrated investment options (stocks + mutual funds) | Free tools, trading API |
Zerodha vs Groww vs Upstox - Overall Summary
| Category | Zerodha | Groww | Upstox |
|---|---|---|---|
| Account Opening Fees | ★★★★☆ | ★★★★★ | ★★★★☆ |
| Annual Maintenance Charges (AMC) | ★★★☆☆ | ★★★★★ | ★★★☆☆ |
| Brokerage for Equity Delivery | ★★★★★ | ★★★★★ | ★★★★★ |
| Brokerage for Equity Intraday | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| Brokerage for Option Trading | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| Brokerage for Futures Trading | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| Trading Platforms | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| Customer Support | ★★★☆☆ | ★★★☆☆ | ★★★☆☆ |
| Investment Options | ★★★★★ | ★★★☆☆ | ★★★★☆ |
| Research & Advisory Services | ★★★☆☆ | ★★★☆☆ | ★★★☆☆ |
| User Interface & Experience | ★★★★☆ | ★★★★☆ | ★★★★☆ |
| Additional Features | ★★★★☆ | ★★★☆☆ | ★★★★☆ |
*Above star rating is just for reference while comparing above brokers with each other. Above rating can be wrong as well and we do not take any liability for same.
Zerodha vs Upstox vs Groww: Comprehensive Comparison
When it comes to selecting the right broker for stock market investments in India, Zerodha, Groww, and Upstox are three of the most prominent names. Each platform offers unique features, pricing models, and user experiences, making the choice between them a crucial decision for both new and experienced investors. Let’s dive into a detailed comparison to understand how these platforms stack up against each other.
Account Opening Fees
Account opening fees are one of the first aspects investors consider when selecting a brokerage platform. Zerodha charges ₹200 for opening an equity account and an additional ₹100 for commodities. Upstox has a flat charge of ₹249, while Groww stands out by offering free account opening. This makes Groww an attractive choice for investors who are just starting and looking for a cost-effective way to enter the market.
Annual Maintenance Charges (AMC)
Annual Maintenance Charges (AMC) are a recurring cost that investors need to consider. Zerodha and Upstox both charge ₹300 per year for maintaining the Demat account. In contrast, Groww does not levy any AMC, which is a significant advantage for long-term investors looking to minimize ongoing costs.
Brokerage for Equity Delivery
For equity delivery trades, all three platforms—Zerodha, Groww, and Upstox—offer free brokerage. This has become a standard practice across major brokers, making it highly favorable for those interested in long-term investments. Investors can rest assured that they will not incur brokerage costs when buying and holding stocks for an extended period on any of these platforms.
Brokerage for Equity Intraday
For intraday trading, the costs differ slightly across platforms. Zerodha charges ₹20 per executed order or 0.03%, whichever is lower. Groww and Upstox have a straightforward ₹20 per executed order fee. The small difference in pricing might not matter much for low-frequency traders, but for those who trade frequently, Zerodha's percentage-based pricing model could result in cost savings for high-value trades.
Brokerage for Option and Futures Trading
In the case of options and futures trading, all three platforms—Zerodha, Groww, and Upstox—charge ₹20 per executed order. This uniform pricing makes it easy for derivatives traders to compare platforms based on other features rather than just cost. Investors looking for options trading might find it useful to focus on user experience and additional tools rather than the brokerage fee.
Trading Platforms
Each of these platforms offers its own trading platform, designed to cater to different types of investors. Zerodha provides its popular Kite platform, known for its clean, fast, and user-friendly interface, available both on the web and as a mobile app. Groww offers an intuitive, minimalist app, also available on both mobile and web, which is ideal for beginners looking to keep things simple. Upstox provides the Upstox Pro platform, a more advanced solution for traders, also available on both mobile and web. All three platforms cater well to the modern investor's need for flexibility and convenience.
Customer Support
Customer support is another vital aspect when choosing a broker. Zerodha and Upstox offer both email and phone support during business hours, ensuring that investors can get in touch when needed. Groww offers customer support through email and chat, which might appeal more to younger, tech-savvy investors who prefer messaging over phone calls. While none of these platforms offer 24/7 support, the accessibility during business hours is generally satisfactory.
Investment Options
The variety of investment options offered by each platform also plays a significant role in the decision-making process. Zerodha provides a wide array of investment options, including equity, derivatives, commodities, mutual funds, and bonds, making it a comprehensive platform for all types of investors. Groww offers equity, mutual funds, and US stocks, which may appeal more to those focused on simple and diversified portfolios. Upstox, on the other hand, provides equity, derivatives, mutual funds, and digital gold, offering an interesting mix for investors looking to invest in newer asset classes like digital gold.
Research and Advisory Services
When it comes to research and advisory services, Zerodha offers basic charting tools and market data through its platform. Groww provides limited research options, along with some news updates, which may be enough for beginner investors. Upstox also offers basic research and news updates. However, none of these platforms are particularly strong in providing deep market research or advanced advisory services, which might require investors to rely on third-party resources for in-depth analysis.
User Interface and Experience
The user interface and experience are crucial for both novice and seasoned traders. Zerodha’s Kite platform is known for its fast, simple, and efficient interface, making it easy for traders to execute trades swiftly. Groww’s app is designed with beginners in mind, offering a minimalist design that makes it easy to navigate without overwhelming users with too much information. Upstox also has a clean and user-friendly interface, but it provides more advanced tools for traders who are looking for a bit more control and analytics. Overall, each platform has a unique interface designed for its target audience, with Zerodha and Upstox focusing slightly more on traders, while Groww caters more to beginner investors.
Additional Features
In terms of additional features, Zerodha offers some unique tools like Coin, a direct mutual fund platform, and Console, a reporting tool that provides deep insights into investments. Groww’s main advantage is its integration of stocks and mutual funds in a single platform, making it easy for investors to manage both asset types. Upstox provides free tools and an open trading API, appealing to tech-savvy traders who may want to integrate custom tools into their trading experience.
Conclusion
In conclusion, each of these platforms—Zerodha, Groww, and Upstox—offers distinct advantages, and the best choice depends on an investor's specific needs. Zerodha is ideal for those who want a comprehensive platform with advanced tools, Groww is perfect for beginner investors who prefer a cost-effective and user-friendly platform, and Upstox stands out for traders who want an advanced platform with competitive pricing. Understanding your own trading style, investment goals, and platform preferences will help you make the best choice among these three leading brokers.