Zerodha vs Upstox vs Mstock 2025 - Brokerage Charges, Demat Account Opening Fee
Account Opening Fees
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹200 (Equity) + ₹100 (Commodity) | ₹249 | ₹300 |
Annual Maintenance Charges (AMC)
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹300/year | ₹300/year | ₹350/year |
Brokerage for Equity Delivery
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹0 (free) | ₹0 (free) | 0.2% or ₹25 (whichever is higher) |
Brokerage for Equity Intraday
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹20 per executed order or 0.03% | ₹20 per executed order | 0.03% per order |
Brokerage for Option Trading
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹20 per order | ₹20 per order | ₹25 per lot |
Brokerage for Futures Trading
| Zerodha | Upstox | Mstock |
|---|---|---|
| ₹20 per order | ₹20 per order | 0.03% or ₹50 (whichever is higher) |
Trading Platforms
| Zerodha | Upstox | Mstock |
|---|---|---|
| Kite (web, mobile) | Upstox Pro (web, mobile) | Mstock App (web, mobile) |
Customer Support
| Zerodha | Upstox | Mstock |
|---|---|---|
| Email, phone (business hours) | Email, phone (business hours) | Email, phone, branch support (extended hours) |
Investment Options
| Zerodha | Upstox | Mstock |
|---|---|---|
| Equity, derivatives, commodities, mutual funds, bonds | Equity, derivatives, mutual funds, digital gold | Equity, derivatives, mutual funds, bonds, ETFs |
Research & Advisory Services
| Zerodha | Upstox | Mstock |
|---|---|---|
| Basic charts, data | Basic research, news | Advanced research, advisory services |
User Interface & Experience
| Zerodha | Upstox | Mstock |
|---|---|---|
| Simple, fast interface | Clean, user-friendly interface | Comprehensive, feature-rich |
Additional Features
| Zerodha | Upstox | Mstock |
|---|---|---|
| Coin (direct mutual funds), Console (reporting) | Free tools, trading API | Research, portfolio management tools |
Zerodha vs Upstox vs Mstock - Overall Summary
| Category | Zerodha | Upstox | Mstock |
|---|---|---|---|
| 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 Mstock: Comprehensive Comparison
When choosing a stock broker, it's crucial to consider various factors such as account opening fees, annual maintenance charges (AMC), brokerage rates, and the overall quality of services. This article provides a detailed comparison of three prominent brokers: Zerodha, Upstox, and Mstock, covering aspects including account fees, brokerage structures, trading platforms, and more.
Account Opening Fees
Zerodha charges a nominal fee of ₹200 for equity accounts and ₹100 for commodity accounts. In contrast, Upstox requires a one-time fee of ₹249 to open an account. Mstock's account opening fee stands at ₹300. These fees are crucial for investors to consider as they impact the initial investment cost.
Annual Maintenance Charges (AMC)
The AMC is another vital factor to consider. Zerodha and Upstox both charge ₹300 annually for maintaining the account. Mstock offers a slightly higher AMC of ₹350 per year. It’s worth noting that while Zerodha and Upstox have a standard annual fee, Mstock’s slightly higher charge might be a consideration for long-term investors.
Brokerage for Equity Delivery
For equity delivery trades, Zerodha and Upstox offer a significant advantage by charging no brokerage fees, making them appealing options for investors who prefer to hold stocks for the long term. Mstock, on the other hand, charges a brokerage fee of either 0.2% of the trade value or ₹25, whichever is higher.
Brokerage for Equity Intraday
When it comes to intraday trading, Zerodha charges ₹20 per executed order or 0.03% of the trade value, whichever is lower. Upstox has a fixed charge of ₹20 per executed order. Mstock charges a brokerage fee of 0.03% per order, providing a competitive rate for frequent traders.
Brokerage for Option Trading
For options trading, Zerodha and Upstox both charge ₹20 per order, which is relatively low compared to Mstock’s ₹25 per lot. This makes Zerodha and Upstox attractive for traders looking to minimize costs in options trading.
Brokerage for Futures Trading
Zerodha and Upstox both have a brokerage fee of ₹20 per order for futures trading. Mstock charges either 0.03% of the trade value or ₹50 per order, whichever is higher. This makes Zerodha and Upstox more cost-effective options for futures traders.
Trading Platforms
All three brokers offer robust trading platforms. Zerodha provides the Kite platform, available on both web and mobile, which is known for its simplicity and speed. Upstox offers the Upstox Pro platform, also accessible on web and mobile, known for its user-friendly interface. Mstock provides its trading through the Mstock App, available on both web and mobile, catering to a wide range of trading needs.
Customer Support
Customer support varies among the brokers. Zerodha and Upstox offer support via email and phone during business hours. Mstock, however, provides more extensive support with email, phone, and branch support during extended hours, which may be beneficial for investors needing more personalized assistance.
Investment Options
Zerodha provides access to equity, derivatives, commodities, mutual funds, and bonds. Upstox offers equity, derivatives, mutual funds, and digital gold. Mstock has a comprehensive range of investment options, including equity, derivatives, mutual funds, bonds, and ETFs, catering to a broader spectrum of investment preferences.
Research & Advisory Services
When it comes to research and advisory services, Zerodha provides basic charts and data. Upstox offers basic research and news updates. Mstock stands out with advanced research and advisory services, which can be particularly useful for investors seeking in-depth analysis and guidance.
User Interface & Experience
All three brokers offer distinct user interfaces. Zerodha’s Kite platform is known for its simple and fast interface. Upstox Pro provides a clean and user-friendly interface. Mstock’s platform is comprehensive and feature-rich, catering to both novice and experienced traders.
Additional Features
Each broker offers unique additional features. Zerodha has Coin for direct mutual funds and Console for reporting. Upstox provides free tools and a trading API. Mstock offers research and portfolio management tools, enhancing the trading experience.
In summary, Zerodha and Upstox provide competitive pricing with low brokerage fees and no charges for equity delivery. Mstock offers a range of additional features and investment options but at a slightly higher cost. Each broker has its strengths, and the choice between them should be based on individual trading needs and preferences.