In this article we provide a detailed comparison between Mirae Asset Sharekhan and Upstox, covering key aspects such as brokerage charges, account opening fees, trading platforms, leverage, and features. It highlights the pros and cons of each broker, helping investors and traders choose the platform that best suits their needs.
About Sharekhan
Established in 2000, Mirae Asset Sharekhan (formerly Sharekhan) is a full-service stockbroking firm and a pioneer in retail online broking and digital investments in India. It offers online trading and investment services through multiple platforms, including:
- TradeTiger: Desktop trading software
- Sharekhan App & Investiger App: Mobile apps available for Android and iOS
Designed for serious investors and traders, Mirae Asset Sharekhan provides a comprehensive suite of research, advisory, and brokerage services.
About Upstox
Upstox, established in 2012, is a tech-first discount broking firm offering cost-effective trading solutions across segments like equities, commodities, currencies, futures, and options. It provides advanced trading platforms:
- Upstox Pro Web
- Upstox Pro Mobile
Backed by notable investors like Kalaari Capital, Ratan Tata, and GVK Davix, Upstox is known for its user-friendly platforms and competitive pricing.
Mirae Asset Sharekhan Vs Upstox: A Quick Comparison
| Feature | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Type of Broker | Full-Service Broker | Discount Broker |
| Exchange Membership | BSE, NSE, MCX | BSE, NSE, MCX |
| Year of Incorporation | 2000 | 2012 |
| Number of Branches | 2800 | 4 |
Account Opening & AMC Charges
| Charge Type | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Trading Account Opening | ₹0 (Free) | ₹0 (Free) |
| Trading Account AMC | ₹0 (Free) | ₹0 (Free) |
| Demat Account Opening | ₹0 (Free) | ₹0 (Free) |
| Demat Account AMC | ₹400 (Free for 1st year) | ₹150 |
Brokerage Charges
| Transaction Type | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Equity Delivery | 0.30% or ₹0.01 per share | ₹20 per order or 2.5% (whichever is lower) |
| Equity Intraday | 0.02% or ₹0.01 per share | ₹20 per order or 0.05% (whichever is lower) |
| Equity Futures | 0.02% per transaction | ₹20 per order or 0.05% (whichever is lower) |
| Equity Options | ₹39 per lot | ₹20 per executed order |
| Currency Futures | 0.02% per transaction | ₹20 per executed order or 0.05% (whichever is lower) |
| Currency Options | ₹5 per lot | ₹20 per executed order |
| Commodity Futures | 0.02% | ₹20 per executed order or 0.05% (whichever is lower) |
| Commodity Options | ₹20 per lot | ₹20 per executed order |
Special Offer
- Upstox: Flat ₹20 per trade for all segments including intraday, F&O, and delivery.
- Mirae Asset Sharekhan: Offers different brokerage plans based on trade volume.
Leverage (Margin) Comparison
| Segment | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Equity Delivery | 1x (100% trade value) | 1x (100% trade value) |
| Equity Intraday | 5x (up to 20% of trade value) | 5x (up to 20% of trade value) |
| F&O (Equity, Currency, Commodity) | 1x (Span + Exposure) | 1x (Span + Exposure) |
Features & Trading Platforms
| Feature | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Trading Platforms | TradeTiger, Sharekhan Mobile | Upstox Pro Web, Dartstock, NEST Trader |
| Automated Trading | Yes | Yes |
| SMS Alerts | Yes | No |
| Online Portfolio | Yes | No |
| Margin Trading Funding | Yes | Yes |
| Trading in SME Shares | No | Yes |
| Referral Program | No | Yes |
Pros & Cons
Mirae Asset Sharekhan
Pros:
- Multiple trading platforms (desktop, mobile, web)
- Research reports and training programs
- No charges for fund transfers and DP transactions
- Large branch network for offline support
- Free Call & Trade facility
Cons:
- Higher brokerage compared to discount brokers
- No 3-in-1 account
- Commodity trading requires separate activation
Upstox
Pros:
- Flat ₹20 per trade across all segments
- Margin Trading Facility (MTF) at competitive rates
- Online IPO, FPO, Bonds, and NCD investments available
- Advanced trading tools like GTT orders & option strategy builder
Cons:
- No research reports or stock tips
- No 3-in-1 account
- No digital gold investment
- Call & Trade charges ₹20 per order
- Higher intraday square-off charges ₹50 per order
Conclusion
Mirae Asset Sharekhan is a great choice for investors looking for research-backed trading, strong advisory services, and offline branch support. On the other hand, Upstox is ideal for cost-conscious traders who prefer a flat brokerage model and advanced trading tools. Choose the broker that best suits your trading style and investment goals!