Broker Comparison

Zerodha vs Upstox

Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.

Data verified: 2026-07-31

Zerodha

Discount Broker

★★★★☆ 4.4/5

Account opening₹0

AMC₹300 + 18% GST per year

IntradayFlat ₹ 20 or 0.03% (whichever is lower)

View Zerodha Review

Upstox

Discount Broker

★★★★☆ 4.3/5

Account openingFree

AMC₹0 first year

Intraday₹20 or 0.1% per executed order, whichever is lower

View Upstox Review

Zerodha vs Upstox: Quick comparison

Key charges and account features side by side.

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Feature	Zerodha	Upstox
Broker type	Discount Broker	Discount Broker
Account Opening Charges	₹0	Free
Annual Maintenance Charges	₹300 + 18% GST per year	₹0 first year
Equity delivery	₹0 brokerage	₹20 per executed order
Equity intraday	Flat ₹ 20 or 0.03% (whichever is lower)	₹20 or 0.1% per executed order, whichever is lower
Futures	Flat ₹ 20 or 0.03% (whichever is lower)	₹20 or 0.05% per executed order, whichever is lower
Options	Flat ₹ 20 per executed order	₹20 per executed order
Commodity	Flat ₹ 20 or 0.03% (whichever is lower)	₹20 per executed order or 0.05% (whichever is lower)
Currency	Flat ₹ 20 or 0.03% (whichever is lower)	₹20 per executed order or 0.05% (whichever is lower)
DP charges	₹15.34 per scrip (₹3.5 CDSL fee + ₹9.5 Zerodha fee + ₹2.34 GST)	₹20.0 + GST
Auto Square Off	₹50 plus 18% GST	₹50 + GST
Call & trade Charge	₹50 plus 18% GST	₹75 + GST
Customer support	Yes, Official app/web help centre, ticket, email and/or phone support	Official app/web help centre, ticket, email and/or phone support.
Active Users	6.8 million NSE-active clients as of May 2026	Approximately 2.5 million active clients.

About Zerodha

Zerodha is one of India’s leading discount stockbrokers, offering online investing and trading in equities, currencies, commodities, IPOs, futures and options, bonds, government securities, and direct mutual funds.

It charges ₹0 brokerage on equity delivery and direct mutual fund investments. Equity intraday and futures trades are charged at ₹20 or 0.03% per executed order, whichever is lower, while options trades cost a flat ₹20 per executed order.

Zerodha is known for its low-cost pricing, transparent services, user-friendly Kite trading platform, and strong focus on technology and investor education.

About Upstox

Upstox is a technology-driven discount broker in India that offers online investing and trading services at competitive charges. Users can trade in equities, commodities, currencies, futures, and options through its mobile and web-based platforms.

The company is backed by prominent investors, including Ratan Tata and Kalaari Capital. Upstox focuses on providing a simple, fast, and accessible trading experience for both beginners and active traders.

Its trading platforms offer advanced charts, technical indicators, watchlists, order management tools, and portfolio tracking features. Users can access equity delivery, intraday trading, futures and options, commodities, and currency derivatives through a single Upstox account.

Trading Platforms & Tools

Zerodha offers a modern trading and investment ecosystem through Kite Web and Mobile, Coin, Console, Kite Connect API, and Varsity. These platforms provide advanced charts, live market data, portfolio analytics, direct mutual fund investing, IPO applications, alerts, GTT orders, and educational resources.

Products Offered

Zerodha offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, ETFs, IPOs, direct mutual funds, bonds, and government securities. These products can be accessed through Zerodha’s online platforms, including Kite and Coin.

Trading Platforms & Tools

Upstox offers web and mobile trading platforms designed for investors and active traders. Its tools include advanced charts, technical indicators, multiple order types, customizable watchlists, price alerts, option chain analysis, portfolio tracking, and real-time market data. Users can trade in equities, futures and options, commodities, and currencies, as well as invest in mutual funds, IPOs, ETFs, and other financial products through a single account

Products Offered

Upstox offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, mutual funds, IPOs, ETFs, bonds, and government securities. Users can access and manage these products through a single Demat and trading account.

Zerodha pros and cons

Pros

₹0 brokerage on equity delivery and direct mutual funds.
Low flat brokerage for intraday and F&O trades.
User-friendly Kite platform with advanced trading tools.

Cons

No stock tips or advisory services.
Call-and-trade and some additional services may incur extra charges.

Upstox pros and cons

Pros

Low and transparent brokerage
Advanced trading tools and charts
Wide range of investment products

Cons

Does not offer a 3-in-1 account.
Does not offer unlimited monthly trading plans.

Which broker should you choose?

Choose based on the segment you trade, total account cost, platform requirements, research needs and support preference. Verify the latest tariff and product availability on the brokers’ official websites before opening an account.

Broker Rating

Zerodha

★★★★☆

4.4/5

3.9L+ Google Play store Reviews

Upstox

★★★★☆

4.3/5

4.9L+ Google Play Store Reviews

Read complete broker reviews

Zerodha Review Upstox Review

Frequently asked questions

Is Zerodha a good stockbroker for beginners?

Yes, Zerodha is suitable for beginners because it offers a user-friendly Kite trading platform, educational resources through Varsity, and low brokerage charges.

What is the Zerodha account opening charge?

Zerodha currently offers free account opening for resident individual trading and demat accounts.

What brokerage does Zerodha charge?

Zerodha charges ₹0 brokerage on equity delivery. For equity intraday and futures, the charge is ₹20 or 0.03% per executed order, whichever is lower. Options trades are charged at ₹20 per executed order.

Does Zerodha charge an annual maintenance fee?

Yes, Zerodha charges an Account Maintenance Charge (AMC) of ₹300 per year plus 18% GST for standard resident individual accounts, though it is free for the first year. Instead of billing annually, Zerodha deducts this fee quarterly (every 91 days) directly from your trading balance.

Which trading platforms does Zerodha offer?

Zerodha offers Kite for trading and investing, Coin for direct mutual funds and other investments, and Console for portfolio reports and account statements.

Can I invest in mutual funds through Zerodha?

Yes, investors can use Zerodha Coin to invest in direct mutual funds without paying distributor commissions.

Does Zerodha provide stock tips or advisory services?

No, Zerodha does not provide stock tips, portfolio management, or personalised investment advisory services.

Is there any minimum balance requirement in Zerodha?

No, Zerodha does not require users to maintain a minimum account balance to keep their account active.

Can I apply for IPOs through Zerodha?

Yes, Zerodha users can apply for IPOs online through the Kite platform using a supported UPI ID.

Is Zerodha safe and SEBI registered?

Yes, Zerodha Broking Limited is registered with SEBI and is a member of major Indian stock exchanges, including NSE, BSE, and MCX. However, all stock market investments are subject to market risks.

Is Upstox good for beginners?

Yes, Upstox is suitable for beginners because it offers an easy-to-use app, online account opening, and access to multiple investment products.

Is Upstox Demat account opening free?

Yes, Upstox currently offers Demat account opening at ₹0.

What are the Upstox annual maintenance charges?

Upstox currently charges ₹0 AMC for the first year, after which non-BSDA users pay ₹300 + GST annually.

What is the brokerage charge in Upstox?

Upstox charges up to ₹20 per executed order, depending on the trading segment.

Does Upstox charge brokerage on equity delivery?

Yes, Upstox currently charges ₹20 per executed equity delivery order.

Can I invest in mutual funds through Upstox?

Yes, users can invest in mutual funds through Upstox with ₹0 charges on mutual fund transactions.

Can I apply for an IPO through Upstox?

Yes, Upstox users can apply for IPOs online, and Upstox currently charges ₹0 brokerage on IPO investments.

How long does it take to open an Upstox account?

An Upstox Demat account can generally be activated within 12–48 hours after successful document verification.

Does Upstox charge DP charges when selling shares?

Yes, Upstox currently charges ₹20 per scrip per day as DP charges when equity delivery shares are sold.

Can I trade in stocks, F&O, commodities and currencies with Upstox?

Yes, Upstox provides access to stocks, futures and options, commodities, and currency trading.