Zerodha Vs Upstox – Which One To Choose?

There is a common confusion while choosing the right discount broker – Zerodha Vs Upstox. So let’s have a close look at the two popular discount brokers in India – Zerodha Vs Upstox.

Zerodha

Zerodha is the largest and most popular broker in India that provides brokerage services online to invest in Equity, Direct Mutual Funds, IPO, Commodities, and Currencies. It provides services to novice and expert traders. 

Zerodha was founded by Nithin Kamath and Nikhil Kamath in 2010. It is headquartered in Bengaluru. Zerodha has a clientele of 36.02 lakhs (as of 2021). It has over 120 branches in India. Its venture capitalist company is Rainmatter. It is ranked no. 1 in the stockbroking companies category in India. 

Upstox

Upstox is a leading stockbroker in India that provides trading opportunities at Equity, Commodities, Currencies, Futures, and Options segments. 

Upstox was founded by Raghu Kumar, Kavitha Subramanian, and Srinivas Vishwanath in 2012. It is headquartered in Mumbai. Upstox has a client base of 21.41 lakhs (as of 2021). It has 4 branches in India. Upstox is backed by venture capitalists such as : 

  • Ratan Tata – 1.33% stake 
  • GVK Davis – 2.54% stake, 
  • Kalaari Capital – 15.21% stake,
  • Tiger Global – 31.1% stake. 

Upstox is ranked no.2 in India under the stockbroking category of companies. It targets the professional traders’ audience. 

Overview Of Zerodha Vs Upstox

Products

Zerodha

Zerodha offers a wide range of sleek, robust, and client-centric products such as 

  • Kite
  • Coin 
  • Varsity
  • Trading Q & A 
  • Console 
  • Small case
  • Pulse
  • Streak
  • Sentinel 
  • Sensibull
  • GoldenPi 

It also offers tools and utilities such as a Brokerage calculator, margin calculator, and holiday calendar. Zerodha provides investment options in stocks, futures, options, IPOs, direct mutual funds, government securities, gold bonds, ETFs. NSE, BSE, MCX, NCDEX are the supported exchanges by Zerodha. 

Zerodha supports orders such as Cover Order, After Market order (AMO), Buy Today Sell Tomorrow (BTST), and Good till Cancelled (GTC). Customer support services at Zerodha include Contact customer service representative(s) or raise a ticket(s) to resolve queries during the following service timings: 

●  New account application: 10 am – 7 pm IST

●  Support: 8.30 am – 4.30 pm IST

●  Call, trade: 9 am – 11.30 pm IST

It provides additional features such as SMS Alerts, 3 in one account and margin against share. 

Upstox

Upstox’s product offering is more trader centric that encompasses: 

  • ProWeb
  • ProMobile 

It also offers tools and utilities such as a Brokerage calculator, span calculator, and options strategy builder. Upstox provides investment options in stocks, mutual funds, futures, options, IPOs, digital gold. 

NSE, BSE and MCX are the supported exchanges by Upstox. Upstox supports Cover Order and After Market Order (AMO). Customer support at Upstox can be availed by raising a ticket or chatting with the backend support team online for resolving your queries, between 9 am – 4 pm IST, Monday – Friday.

It provides additional features such as SMS Alerts, 3 in one account, margin against share, and margin funding. 

Pricing

Charges related to opening an account and AMC

ParticularsZerodhaUpstox
Account opening₹ 200₹ 249
Annual Maintenance Charges (AMC)₹ 300 per annum₹ 300 per annum
Call and Trade Charges₹ 50 per executed trade₹ 20 per trade 

Equity Brokerage Charges 

ParticularsZerodhaUpstox
Equity delivery₹ 0 (Free)₹ 20 per executed order, or 2.5% whichever is lower
Equity Intraday₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order, or 0.05% whichever is lower
Equity Futures₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order, or 0.05% whichever is lower
Equity Options₹ 20 per executed order₹ 20 per executed order

Currency Brokerage Charges 

ParticularsZerodhaUpstox
Currency Futures₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order, or 0.05% whichever is lower
Currency Options ₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order

Commodity Brokerage Charges 

ParticularsZerodhaUpstox
Commodity Futures₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order, or 0.05% whichever is lower
Commodity Options ₹ 20 per executed order, or 0.03% whichever is lower₹ 20 per executed order

Margin requirement for Zerodha vs Upstox: 

Margin leverage is the same for both: 

  • Equity Delivery at 100% of trade value at 1x leverage 
  • Equity Intraday up to 20% of trade value at 5x leverage 
  • Future and Options of Equity, currency, and Commodity at 100% of NRML (Normal order) with span + exposure of 1x leverage

Do you wish to trade/invest in generating wealth? Stock markets have enabled throngs of traders to passively and actively enhance the potential of wealth creation. Although the market risk is involved, stock markets continue to be the hub spot for traders to maximize gains from times immemorial.   

Are you stuck on how to start trading in stock markets? With advancements in the fintech industry, it is easy to enter the stock market. All you need to do is open a demat and trading account, as per SEBI guidelines. A full-service broker can help in research and advisory, whereas a discount broker provides a platform if you have knowledge of stock markets. 

What’s The Final Word? 

 Zerodha vs Upstox comparison highlights that they are near-identical platforms with advanced features for traders. You can decide between the two depending on your stock market knowledge, required features, and financial capacity, you can decide between the two. It is always recommended to do your research (DYOR) to make the best decision. 

Frequently Asked Questions (FAQs) 

In what ways is Zerodha better than Upstox? 

Zerodha is better than Upstox considering the following reasons: 

  • Zerodha is a debt-free company 
  • It invests largely in technology. 
  • It offers an IPO application investment option. 
  • It provides a wide and excellent range of products and tools. 
  • The decision-making of the Board is faster. 
  • You can apply for direct mutual funds using Zerodha. 
  • It has the highest number of clients and is ranked no. 1 in India. 
  • It is friendly to novice and professional traders and investors. 

In what ways is Upstox better than Zerodha? 

Upstox is better than Zerodha, considering the following reasons: 

  • Upstox offers access to third-party trading software for advanced traders such as Fox Trader, Dartstock, and NEST Trader. 
  • The pre-paid offer by Upstox has validity for 2 years. The pre-paid plans come with less than ₹ 20 for each trade with a brokerage credit of ₹ 400 at a ₹ 249 plan. 

About Stuart Cook

Digital Marketer, Dreamer, Entrepreneur and an avid Traveler.

Leave a Comment