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.
Also Read: How To Invest in Groww App
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 |
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 |
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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.
Also Read: Zerodha Vs Upstox
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
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.
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.
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.
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.
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!
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