Zerodha and Upstox are the top contenders when it comes to choosing the best share broker in India. Both offer competitive brokerage plans, user-friendly platforms, and a range of trading options. In this comparison, we break down their charges, brokerage fees, transaction costs, client base, and pros & cons to help you decide the best option for your trading needs.
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Zerodha vs Upstox Account Opening Charges & AMC
| Account Opening and Demat Charges | Zerodha | Upstox |
| Equity Trading Account Opening Charges | Online – INR 200 Offline – INR 500 | Zero (Free) |
| Commodity Account Opening Charges | INR 300 | Zero (Free) |
| Trading Account AMC Charges | Zero | Zero |
| Demat Account Opening Charges | Zero (Free) | Zero (Free) |
| Demat Account AMC Charges | INR 300 + GST | INR 150 + GST |
| Open Account Link | Open Account With Zerodha | Click here to Open Free Account |
- Zerodha vs Upstox Brokerage Charges
| Particulars | Zerodha | Upstox |
| Equity Delivery | Zero per order | INR 20 per order or 2.5%, whichever is lower |
| Equity Intraday | INR 20 per order or 0.03%, whichever is lower | INR 20 per order or 0.05%, whichever is lower |
| Equity Futures | INR 20 per order or 0.03%, whichever is lower | INR 20 per order or 0.05%, whichever is lower |
| Equity Options | INR 20 per executed order | INR 20 per executed order |
| Currency Futures | INR 20 per order or 0.03%, whichever is lower | INR 20 per order or 0.05%, whichever is lower |
| Currency Options | INR 20 per executed order | INR 20 per executed order |
| Commodity Futures | INR 20 per order or 0.03%, whichever is lower | INR 20 per order or 0.05%, whichever is lower |
| Commodity Options | INR 20 per executed order | INR 20 per executed order |
| Call & Trade Charge | INR 50 per executed order | INR 50 per executed order |
| Minimum Brokerage | 0.03% in Intraday and F&O | 0.05% |
| P&L/CMR Charges | INR 20 + INR 100 (courier charge) | INR 20 per page |
- Upstox vs Zerodha Transaction Charges
| Particulars | Zerodha | Upstox |
| Equity Delivery | NSE: 0.00325%| BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00325% (Both Buy & Sell) |
| Equity Intraday | NSE: 0.00325%| BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00325% (Both Buy & Sell) |
| Equity Futures | NSE: 0.0019% | NSE: 0.0019% (Both Buy & Sell) |
| Equity Options | NSE: 0.05% (on premium) | NSE: 0.050% (on premium) |
| Currency Futures | NSE: 0.0009%| BSE: 0.001% | NSE: 0.0009%| BSE: 0.00022% |
| Currency Options | NSE: 0.0009%| BSE: 0.00025% | NSE: 0.035%| BSE: 0.001% |
| Commodity Futures | Group A – 0.0026% | MCX: 0.0026 |
| Commodity Options | 0.05% | 0.05% |
Zerodha vs Upstox – Active Clients and Complaints
| Particulars | Zerodha | Upstox |
| Number of Active Clients | 7,568,346 | 3,204,717 |
| Market Shares | 19.42% | 6.58% |
| Number of Complaints | 239 | 116 |
| Number of Complaints Resolved | 82.43% | 81.90% |
Zerodha vs Upstox – Pros and Cons
Zerodha Pros and Cons
Pros:
- India’s No. 1 broker in terms of active clients
- Maximum INR 20 per trade brokerage for all segments
- Direct Free Mutual Fund Investment is available
- NRI Trading account is available
- Excellent trading platforms (Kite) available for free
- Simple flat fee brokerage services across segments (BSE, NSE, MCX)
- Free equity delivery trades
Cons:
- No 3-in-1 account
- Call & Trade incurs INR 50 per order
- No stock tips, research, or recommendations
- No AMC-free Demat account
- No margin funding
Upstox Pros & Cons
Pros:
- Zero account opening fee
- Maximum INR 20 per trade brokerage for all segments, including equity delivery
- Offers direct mutual funds
- Zero brokerage for Mutual Fund investments
- One app for trading in equity, currency, and commodity
- Offers margin funding
Cons:
- No 3-in-1 account
- Call-and-trade fee is INR 20 per executed order
- No stock tips or research recommendations
- Automatic settlement charges INR 50 per executed order
Conclusion
Both Zerodha and Upstox offer competitive brokerage plans and excellent trading platforms. Zerodha stands out with its free equity delivery trades, extensive client base, and superior trading platform, while Upstox attracts traders with its zero account opening fees and margin funding options. Your choice should depend on your trading needs and cost preferences.
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