A Demat account is one the first that you need If you are starting your investment journey. However, there are multiple demat accounts available in India. Therefore the choice of the best Demat can be a challenging task to do. So to help you out in this situation we have compared the two most popular Deamt accounts Upstox Vs Groww.
Upstox Vs Groww
Basic Difference
Both Upstox and Groww are discount brokers. Upstox was launched in 2012 whereas Groww was incorporated in 2016. The first difference between Upstox Vs Groww is that Groww isn’t registered on MCX thus it doesn’t offer feature trade in commodities and currencies. One can only trade in NSE and BSE with Groww. However, with Groww you can even invest in US stocks but only web version
| Basic Difference | Upstox | Groww |
|---|---|---|
| Type of Broker | Discount | Discount |
| Year of Incorporation | 2012 | 2016 |
| Founders | Ravi Kumar (Co-founder & CEO), Kavitha Subramanian (Co-founder) and Shrini Viswanath (Co-founder). | Lalit Keshre |
| Supported Exchanges | NSE, BSE, MCX | NSE, BSE |
| Depository | CDSL | CDSL |
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Account Features
| Account Features | Upstox | Groww |
|---|---|---|
| 3 in1 Account | Available | N/A |
| Free Trading Calls | N/A | N/A |
| Free Research Report | N/A | N/A |
| Margin Funding | Available | N/A |
| Margin Against Share | Available | Available |
| Algo Trading | Available | N/A |
| SMS Alerts | Available | Available |
| Online Demo | Available | Available |
| Online Portfolio | Available | Available |
| Intraday Square off Time | 3:15 PM | 3:15 PM |
Investment Options
| Investment Options | Upstox | Groww |
|---|---|---|
| Equity | Available | Available |
| Futures | Available | Available |
| Options | Available | Available |
| Currency | Available | N/A |
| Commodity | Available | N/A |
| Mutual Funds | Available | Available |
| IPO | Available | Available |
| SGBs | Available | Available |
| Bonds & Debt Instruments | N/A | N/A |
| Excahnge Traded Funds (ETF) | Available | Available |
| US Stocks | N/A | Available (Only in Web Version) |
Account Opening Charges and AMC
While picking the best Demat account for you, it is also important to keep an eye on the charges There are multiple charges that are levied by stock brokers like delivery, intraday charges, Account Opening Charges and AMC. Many Brokers charge their customers a one-time fee as account opening charges. In addition to this charge, some broker charges additional AMC or Annual maintenance charges.
For Both Groww and Upstox Account Opening Charges are zero. Groww even has zero AMC however Upstox sometime offers accounts with 0 AMC and sometimes it charges ₹150 as AMC.
| Charges | Upstox | Groww |
|---|---|---|
| Account Opening Charges | Free | Free |
| Account Maintenance Charges (AMC) | Free | Free |
Brokerage Charges
In the stock market, brokerage charges play a major role. Some brokerages have zero brokerage whereas some charge high. As per the SEBI Rule, no broker can charge more than the brokerage of 2.5% of the total traded value.
In short, Groww has fewer equity brokerage charges than Upstox. So, if you are a small investor then Groww is better for you. Though the Charges became similar when it comes to intraday.
| Brokerage Charges | Upstox | Groww |
|---|---|---|
| Equity Delivery | 2.5% or ₹20 Whichever is lower | 0.05% or ₹20 Whichever is lower |
| Equity Intraday | 0.05% or ₹20 Whichever is lower | 0.05% or ₹20 Whichever is lower |
| Equity Futures | 0.05% or ₹20 Whichever is lower | ₹ 20 |
| Equity Options | ₹ 20 | ₹ 20 |
| Currency Futures | 0.05% or ₹20 Whichever is lower | NA |
| Currency Options | ₹ 20 | NA |
| Commodities Futures | 0.25% or ₹20 Whichever is lower | NA |
| Commodities Options | ₹ 20 | NA |
| Call Trade | ₹ 50 | NA |
| Auto Square of Charges | ₹ 20 | ₹ 50 |
DP Charges
DP charges or Depository Participant charges are charged by the depository Like NSDL and CDSL. No matter how many units are sold, DP Charges are flat transaction fees. Below are the DP charges of Upstox and Groww.
| DP Charges | Upstox | Groww |
|---|---|---|
| DP Charges | Rs. 18.50 + GST per scrip per day | Rs. 13.50 + GST per scrip per day |
Margin Trading Facility
Intraday traders rely heavily on margin trading facilities. Similarly to a bank loan, a margin allows an individual trader to trade not only with their capital but also with an extra amount that is provided by their broker. Since it is a type of loan, you are liable to pay interest on it. The following are the margins provided by these two brokers.
| Margin | Upstox | Groww |
|---|---|---|
| Equity Delivery | N/A | N/A |
| Equity Intraday | 5X | 5X |
| Equity Futures | 2X | 2X |
| Equity Options | 2X | 2X |
| Currency Futures | 2X | N/A |
| Currency Options | 2X | N/A |
| Commodities Futures | 2X | N/A |
| Commodities Options | 2X | N/A |
Also Read: Top 10 Best FMCG Stocks in India
Exchange Transaction Costs
Traders are charged fees by the Stock Exchange to allow them to trade. To investors, this would be like the exchange charging a commission for providing a trading platform. These charges can vary from below are the Exchange Transaction Costs of Upstox and Groww.
| Exchange Transaction Costs | Upstox | Groww |
|---|---|---|
| Equity Delivery | NSE: 0.00345% BSE: 0.00325% | NSE: 0.00325% BSE: 0.00325% |
| Equity Intraday | NSE: 0.00345% BSE: 0.00325% | NSE: 0.00325% BSE: 0.00325% |
| Equity Futures | NSE: 0.002% | NSE: 0.0019% |
| Equity Options | NSE Exchange turnover charge: 0.053% (on premium) | NSE Exchange turnover charge: 0.05% (on premium) |
| Currency Futures | NSE: Exchange txn charge: 0.0009% BSE: Exchange txn charge: 0.00022% | N/A |
| Currency Options | NSE: Exchange txn charge: 0.035% BSE: Exchange txn charge: 0.001% | N/A |
| Commodities Futures | Non-Agri: Exchange turnover charge: 0.0026% | N/A |
| Commodities Options | Exchange turnover charge: 0.05% | N/A |
Other Features
Customer Support
Interms of Customer Support Both offer multiple ways to connect. If you can connect to both Upstox and Groww customer support via live chat, call and email. Groww even gives you an option to place a call-me-back request. However, I found Upstoxs teams much more fast and responsive.
Advance Order
In contrast Upstox Groww App lacks many advanced order features like GTC Orders, Market Orders, Bracket Orders and Cover Orders etc. Also, Groww has many limitations in terms of Basket order.
Stock News
If you Invest or Wishlist a Stock then Upstox will regularly send you news and event regarding that stock. In the case of Groww, you can see stock news or events on that stock page. However, Groww features a separate Event section where you can see upcoming events of stocks even if you haven’t invested in it.
Reports
Both Groww and Upstox offer multiple useful key ratios, fundamentals and share-holding patterns of stocks in their platforms. However, in Upstox normal stock data in normal stock data is very limited. So you have to switch to the pro mode in Upstox to access the stock detailed review and don’t worry there is no extra charge for it. Even though there are many websites available to check this data still some time this becomes convenient.
FAQs: Upstox Vs Groww
Groww is better for newbie investors and also those who want to invest a small amount whereas Upstox is good for traders.
The Charges in Upstox are slightly high.
Groww doesn’t support Current, Commodities trading. Also, the technical analysis and charting tools aren’t really good.
Currently, you can only invest in US Stock via the Groww web portal.
To start investment you will need a minimum of Rs 100 to top up the Demat account wallet. However, you can start investing with Rs 10 in some mutual funds like NAVI mutual fund
There isn’t any charge for US stock account creation or AMC charges on Groww. However, the you have to pay below mentioned charges.
1. USD-INR Exchange Rate, Bank Charges on Adding Dollars.
2. Withdrawl Charges $9 per transaction irrespective of the amount.
3. $0.02 on Sell transaction charged by the exchange.
Conclusion
After looking at all of the above details we can say that if you are a beginner in investment then Groww will be a better option to choose. It has a simple easy to useful and clean UI that is worth appreciable. Especially if you are a student and want to invest some amount from your monthly savings then definitely you consider Groww.
On top of that it allows users to invest in US stocks are some of the advantages of Groww it’s available only in the web version. Although it has higher withdrawal charges for US Stocks compared to popular players like Indmoney.
On the other hand, Upstox’s better technical analysis and charting tools make it an ideal choice for all traders three. Not only that Upstox also supports GTC Orders, After Market Orders, Bracket Orders and Cover Orders. However, Groww doesn’t have Bracket Orders and Cover Orders support. Nevertheless, both of these platforms are great for mutual fund investments.
