Groww Vs Zerodha Vs Upstox: Which is Best in 2024

While searching for the best Demat account in India we came across multiple platforms, Groww, Zerodha, and Upstox are also one them. If you are confused between Groww Vs Zerodha Vs Upstox. Then you are at the right spot here in this post we are gonna compare these two popular stock brokers and which one is best for you.

Initially launched as a mutual Fund investment platform Groww currently has over 50 Lakh+ Active clients. Zerodha, India’s No1 Discount broker with over 60 lakh+ active users. Speaking of the Upstox it has 20 Lakh+. Active user means those who have done a single with the platform in the last 6 months. So with this Result, We can say Groww is one the fastest growing brokers.

Groww Vs Zerodha Vs Upstox

Zerodha, Groww, and Upstox all of them are Discount Brokers. This means they don’t provide features like In-depth research and reports, Advice on portfolio management and also help in financial planning. Regardless they offer to buy and sell orders at cheaper prices.

Basic Difference	Groww	Zerodha	Upstox
Type of Broker	Discount	Discount	Discount
Year of Incorporation	2016	2010	2012
Founders	Lalit Keshre	Nithin Kamath, Nikhil Kamath	Ravi Kumar, Kavitha Subramanian, Shrini Viswanath.
Supported Exchanges	NSE, BSE	NSE, BSE, MCX, NCDEX	NSE, BSE, MCX, NCDEX.
Depository	CDSL	CDSL	CDSL

Signup on Groww

Signup on Zerodha

Signup on Upstox

Also Read: Best Low Brokerage Demat Accounts

Account Features

Account Features	Groww	Zerodha	Upstox
3 in1 Account	N/A	Available	Available
Free Trading Calls	N/A	N/A	N/A
Free Research Report	N/A	N/A	N/A
Margin Funding	N/A	N/A	N/A
Margin Against Share	Available	Available	Available
Algo Trading	N/A	N/A	Available
SMS Alerts	Available	Available	Available
Online Demo	Available	Available	Available
Online Portfolio	Available	Available	Available
Dekstop Trading App	Groww	Kite	Upstox Pro
Intraday Square off Time	3:15 PM	3:20 PM	3:15 PM

Investment Options

Zerodha and Upstox are Registered in NSE, BSE, MCX, and NCDEX it allows users to invest and trade in Equity, F&O, Currency and Commodities. Whereas In the case of Groww, it is registered with only NSE and BSE means User can only invest and trade in Equity, F&O and also you can’t invest in Bonds with Groww though can also invest in US Stocks but Only through its Site.

Investment Options	Groww	Zerodha	Upstox
Equity	Available	Available	Available
Futures	Available	Available	Available
Options	Available	Available	Available
Currency	N/A	Available	Available
Commodity	N/A	Available	Available
Mutual Funds	Available	Available (Using Coin App)	Available
IPO	Available	Available	Available
SGBs	Available	Available	Available
Bonds & Debt Instruments	N/A	Available	Available
Excahnge Traded Funds (ETF)	Available	Available	Available
US Stocks	Available (Only in Web Version)	N/A	N/A

Account Opening Charges and AMC

Groww and Upstox Have Zero Account Opening Charges and AMC. This is good for beginners to start their investment journey. Also, those who just only want to invest in mutual funds.

Speaking of Zerodha, it Charges Rs 200 For account opening for trades on Equity, F&O and Currency. If you want to trade in Commodities then the charges are Rs 300. Also, Zerodha charges ₹300/year + GST as AMC.

Charges	Groww	Zerodha	Upstox
Account Opening Charges	Free	₹200 (Equity, F&O and Currency.) ₹300(Equity, F&O, Currency and Commodities.)	Free
Account Maintenance Charges (AMC)	Free	₹300/year + GST	Free

Brokerage Charges

Whenever you Buy Stock as delivery, Intraday or trade segments like F&O you Have to pay a to the Broker. As per the SEBI Rule, no broker can charge more than the brokerage of 2.5% of the total traded value. Generally, the Brokerage charges are extremely low but when you invest or trade in higher volume you will see the difference. So it’s always good to choose a Broker that has low Brokerage. Below are the Brokerage Charges of these two brokers.

Brokerage Charges	Groww	Zerodha	Upstox
Equity Delivery	0.05% or ₹20 Whichever is lower	Free	2.5% or ₹20 Whichever is lower
Equity Intraday	0.05% or ₹20 Whichever is lower	0.03% or ₹20 Whichever is lower	0.05% or ₹20 Whichever is lower
Equity Futures	₹ 20	0.03% or ₹20 Whichever is lower	0.05% or ₹20 Whichever is lower
Equity Options	₹ 20	₹ 20	₹ 20
Currency Futures	N/A	0.03% or ₹20 Whichever is lower	0.05% or ₹20 Whichever is lower
Currency Options	N/A	₹ 20	₹ 20
Commodities Futures	N/A	0.03% or ₹20 Whichever is lower	0.05% or ₹20 Whichever is lower
Commodities Options	N/A	₹ 20	₹ 20
Call Trade	N/A	0.03% or ₹20 Whichever is lower	₹50 + GST
Auto Square of Charges	₹ 50+ GST	₹ 50+ GST	₹50 + GST

Also Read: Best Apps to Invest in US Stocks From India

Exchange Transaction Costs

Irrespective of brokerage charges, you have to pay the fees charged by the Stock Exchanges like NSE, or BSE. These charges can vary from below the Exchange Transaction Costs of these platforms.

Exchange Transaction Costs	Groww	Zerodha	Upstox
Equity Delivery	NSE: 0.00325% BSE: 0.00325%	NSE: 0.00325% BSE: 0.00375%	NSE: 0.00345% BSE: 0.00325%
Equity Intraday	NSE: 0.00325% BSE: 0.00325%	NSE: 0.00325% BSE: 0.00375%	NSE: 0.00345% BSE: 0.00325%
Equity Futures	NSE: 0.0019%	NSE: 0.0019%	NSE: 0.002%
Equity Options	NSE Exchange turnover charge: 0.05% (on premium)	NSE: 0.05% (on premium) BSE: 0.005% (on premium)	NSE Exchange turnover charge: 0.053% (on premium)
Currency Futures	N/A	NSE: Exchange txn charge: 0.0009% BSE: Exchange txn charge: 0.00025%	NSE: Exchange txn charge: 0.0009% BSE: Exchange txn charge: 0.00022%
Currency Options	N/A	NSE: Exchange txn charge: 0.035% BSE: Exchange txn charge: 0.001%	NSE: Exchange txn charge: 0.035% BSE: Exchange txn charge: 0.001%
Commodities Futures	N/A	Group A Exchange txn charge:0.0026% Group B: Exchange txn charge: CASTORSEED – 0.0005% KAPAS – 0.0026% PEPPER – 0.00005% RBDPMOLEIN – 0.001%	Non-Agri: Exchange turnover charge: 0.0026%
Commodities Options	N/A	Exchange txn charge: 0.05%	Exchange turnover charge: 0.05%

DP Charges

A depository charges the depository participant, such as NSDL and CDSL. DP Charges are flat transaction fees regardless of how many units are sold. These brokers are listed below with their DP charges.

DP Charges	Groww	Zerodha	Upstox
DP Charges	Rs. 13.50 + GST per scrip per day	Rs. 13.50 + GST per scrip per day	Rs. 18.50 + GST per scrip per day

The DP charges are applied when you sell units. Again if the broker has lower DP CHarges then it’s better for small investors. In this case, again Zerodha and Groww have low charges.

Margin Trading Facility

Margin trading is almost the same as taking a bank loan. In addition to trading with their own money, traders can take advantage of the broker’s margin facility and trade with an additional amount. Considering that it is a loan, you will be responsible for paying interest. Generally, margin trading is important for traders, if you are a long investor, then this section isn’t helpful for you.

Margin	Groww	Zerodha	Upstox
Equity Delivery	N/A	N/A	N/A
Equity Intraday	5X	3X	5X
Equity Futures	2X	2.5X	2X
Equity Options	2X	2.5X	2X
Currency Futures	N/A	2.5X	2X
Currency Options	N/A	2.5X	2X
Commodities Futures	N/A	2.5X	2X
Commodities Options	N/A	2.5X	2X

Also Read: Best Credit Cards For Movie Tickets

Groww Vs Zerodha Vs Upstox: App Features

User Interface

Groww offers a beginner-friendly User Interface. If you want to research a stock then you can find multiple key ratios, Balance Sheet analysis, etc of that particular stock to do all the fundamental analysis. Still, it lacks multiple features compared to other brokers.

Zerodha Delivers a feature-rich platform with modern appeal. Trading view charts, market depth, and other advanced features are available on the platform. So as a beginner, you might find the platform confusing but after playing with the UI for some time you will get used to it.

Upstox on the other side offers you the benefit of both worlds. You Can Simply you with normal mode and switch to Pro mode for Trading and in-depth share analysis.

Advance Orders

Zerodha has multiple advanced order features such as basket order, GTT, Iceberg, and AMO. In Upstox you can find many of these order types however Groww has many limitations in terms of advance orders. In addition to this Zerodha also features an Auction Market which both Groww and Upstox don’t.

Also Read: Best Zero Brokerage Demat Account in India

Stock Events

Groww app recently added a new Events tab. In this section, you can find upcoming events such as ex-split date and ex-divided, etc. Earlier you can see upcoming events of stocks particularly on that stock’s Fundamental page. Just like this, you can also find stock upcoming events on the stocks Fundamental page in Zerodha and Upstox. Apart from these Upstox even notifies you about your wishlisted or invested stocks.

Finding Stock

Now this isn’t much concerning thing but still, I found out that it is easier to find a stock, mutual fund or other investment option that can be easily found on Groww or Upstox as these to feature a Power full stock finder. Even you can search stock by its product(For example, if you search for Maggi on Groww or Upstox then it shows you Nestle). In Zerodha you can find stock only using its NSE or BSE code.

Fundamental Data of Stock

On Groww you can find a handful of key ratios, stock holdings and 4 years detailed financials. In the case of upstox if you switch to its Pro mode then you can find a list full of data even more than Groww. Speaking of Zerodha if you want to see the fundamentals of any company then it will redirect you to Tickertape’s site where many key ratios are locked just like a normal ticker tape site. So I think this is one of the major drawbacks of Zerodha.

Stock Warning

Zerodha and Upstox feature a tool that warns you about whether the stock is ASM or GSM list and also if there’s any case price manipulation for the stocks. This feature is missing in Groww.

Customer Support

You can connect with Groww and Upstox customer support via chat, call, and email. The best part of the Groww app is that you can even place a call-me-back request. In Upstox there isn’t a separate call-me-back option still if you connect with their customer executive install and then you can also ask them to call you back.

A few months back I was facing some problems with adding money so I usually contacted Upstox with the chat support team but when the executive came to know that I was unable to understand they called me back instantly. So I can say Upstox customer support is the most useful.

Speaking of Zerodha you will find to option Call and Support portal. Connecting to Zerodha customer support via call isn’t so much easier than the other two.

Also Read: Top 10 Best FMCG Stocks in India

FAQs: Groww Vs Zerodha Vs Upstox

1. Which Broker is Best For Beginners?

Groww and Upstox are good for Newbie Investors. Where Zerodha is also easy to use but it has so many features that can overwhelming for beginners.

2. Does Upstox has AMC or Account Opening Charges?

Upstox has Shifted to ₹0 AMC and ₹0 account opening charges from Aug 2021 For New Users. This means if you have signed up before that you have to pay AMC.

3. Which Platform is good For Mutual Fund Investment?

Groww and Upstox are better options for investing in mutual funds due to the fact both of them have ₹0 AMC and ₹0 account opening charges. Zerodha allows you to invest in mutual funds via the coin app and to use this you have to create a Kite account. But Kite requires an account opening fee and also yearly AMC.

4. What is a Basic Service Demat Account?

The Basic Service Demat Account (BSDA) is basically for small investors those who can’t regularly invest in stocks. This type of account can get the benefit of low AMC.

5. What is the Difference between Upstox and Upstox Pro?

Upstox Normal mode is made for all beginner investors Whereas Upstox Pro targets all traders. Additionally, Upstox Pro has many features for the fundamental analysis of Stock.

Conclusion

Now If you are a small investor or student then you should consider Groww. It has Zero AMC, Zero account opening charges and also the lowest brokerage. Upstox also has Zero AMC and Zero account opening charges but it has High Brokerage Charges in terms of equity delivery. However, if you want to start trading in the derivatives and commodities segment then you can consider Upstox. Nevertheless, both Upstox and Groww are good for mutual funds as both offer Direct mutual funds.

Now Speaking of Zerodha, it has Zero Brokerage on Equity Delivery which is good for Long Term Investors. Additionally, Brokerage in other segments is also lower. But it charges a one-time account opening fee and Yearly AMC. So, if you are a regular investor and want to invest or trade a large amount then you can consider Zerodha.

Hope our article on Groww Vs Zerodha Vs Upstox was helpful for you!

Suvam Biswas

Suvam Biswas is the founder of this blog. He has spent the last 5 years helping people navigate digital marketing and online income. Through this blog, he shares simple, practical ideas on finance and side hustles to help you achieve your dreams.