Upstox Vs Zerodha, Who is better?


You’ve been doing some research for a stockbroking service and noticed that zerodha and upstox keep popping up? Well, that’s because they’re both quite good!

They rank 1st and 2nd on our list. There are only a few points between them, but little things may make a difference depending on what you need.

We’re going to dive in and look at the differences between each service in some categories to decide better which one is right for you!


So, who are Upstox and Zerodha?

Good question, although I expect you might already have a pretty good idea of the basics if you’re reading this post.

Zerodha:-

Zerodha logo

Zerodha is a Bangalore-based Indias no.1 stockbroking service provider, offering many pro features for pretty competitive prices. Their focus is on ease-of-use while also offering some niche features such as a stock SIP. You can read a full review of them here.


Upstox:-

upstox logo

Upstox: Upstox (earlier known as RKSV Securities) is also a top discount broker in India, suitable for traders who look for low brokerages, high margins, and decent trading platforms. You can read a full review of them here.

Now let’s set them against each other, head-to-head, across several categories to see who comes out on top.

Zerodha Vs Upstox: Comparison

Round 1: Account opening charges

Transaction Zerodha Upstox
Demat Account Opening Charges Rs 200 Rs 249
Demat Account AMC Charges Rs 300 Rs 300
Trading Account Opening Charges Rs 0 Rs 0
Trading Account AMC Charges Rs 0 Rs 0

Ooh, a close one to begin with!

Zerodha trading account opening charges is Rs 200, while Upstox account opening charges are Rs 249. Most of the time, upstox gives an offer to open a free demat account. 

AMC charges are the same as these two brokers: Rs300 + 18% GST 

No one can bit the opinion this round. Both are equal in the Account opening charges point.


Round 2: Pricing

Pricing differences between the two providers are negligible. From the upfront, Upstox and Zerodha are the same in terms of charges and benefits. If you trade a large amount, then only charge 20rs maximum.

Let’s checkout pricing comparison and find out how is charged lower brokerage commission.

Brokerage Charge & Fees Zerodha Upstox (Upstox Basic plan)
Demat AMC Charges Rs.300 per Annum Rs.150 per Annum
Equity Delivery Trading Free Free
Equity Intraday Trading Rs 0.03%or Rs.20 Per Order (whichever is lower) Rs 0.05%or Rs.20 Per Order (whichever is lower)
Commodity Options Trading Rs 0.03%or Rs.20 Per Order Rs.20 Per Order
Equity Futures Trading Rs 0.03%or Rs.20 Per Order Rs 0.05%or Rs.20 Per Order
Equity Options Trading Rs 0.03%or Rs.20 Per Order Rs.20 Per Order
Currency Futures Trading Rs 0.03%or Rs.20 Per Order Rs 0.05%or Rs.20 Per Order
Currency Options Trading Rs 0.03%or Rs.20 Per Order Rs.20 Per Order
Minimum Brokerage Rs 0.03% Rs 0.05%
Demat AMC Charges Rs.300 per Annum Rs.150 per Annum
Call & Trade Charges Rs 50 per executed order Rs 20 per executed order
Margin Money 40% 50%

 We see the zerodha is better in pricing camper to upstox. But upstox is an attractive pricing camper to other brokers.


Round 3: Margin

Zerodha provides a margin of Up to 10x (based on the stock) for intraday trades. In contrast, the Upstox margin for intraday cash is Basic: Up to 5X margins on Intraday orders in EQ (for F&O-listed stocks only) and Up to 2X margins on Intraday orders.

To comply with SEBl’s recent requirements, starting 1st March 2021, all other brokers will need to collect a minimum of 50% funds on the prescribed limit to offer you Intraday trading across various products.


Round 4: Ease of Use

Both upstox and zerodha do a decent job with their usability. Easy navigation due to clean design and menu structures, and only a few minor gripes that wouldn’t affect most users. Both sport simple trading software with minimal complications.

If we were pressed to choose one, though, I’d probably say that zerodha is slightly easier to use. upstox desk can be a little fiddly when performing specific tasks.


Round 5: Trading Platform

Trading platforms offered by both Zerodha and Upstox are the best in the industry.

Zerodha’s Kite’ is an online trading platform developed in-house by Zerodha. This platform is built using advanced technology that allows traders to trade in NSE, BSE, and MCX across various investment segments.

Similarly, Upstox’s trading platform is a free web-based platform that facilitates trading across Stocks, Futures and Options, and Currencies in NSE and BSE. The platform is developed using HTML5 technology and offers high speed and ease of use to traders. Also, upstox supports third-party software like- Nest.

In this round, Zerodha is a clear-cut winner because Zerodha’s Trading platforms attract more customers.


Round 6: Support 

As you know, both are discount brokers. And the discount broker does not provide investment advice or perform analysis on a client’s behalf like a full-service broker. Therefore, you cannot expect more support from them.

If you need anything in help, you need a rise token. After rising token customers cure, contact you within 1-2 business days.

Personally don’t like the support system of this two broker, So I give only 2/5 points in their support.


Round 7: Features

There is no difference between zerodha and upstox, offering good Features for its customers; Zerodha includes Kite Web, Kite Mobile for Android/iOS, and Coin. Upstox offers Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS, and Android Algola trading software.

Features Upstox Zerodha
Automated Trading No Yes
3 in 1 Account Yes No
SMS Alerts No No
Online Demo Yes Yes
Online Portfolio No No
Margin Trading Funding Available Yes Yes
Margin Against Shares (Equity Cash Yes Yes
Other Features Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola Kite Web, Kite Mobile for Android/iOS and Coin
Referral Program Yes Yes

 In this round very tough to decide who is the winner, so the round is tied.


Round 8: pros and cons

Upstox and Zerodha offer similar products and services, charge the same brokerage, and both have an excellent trading platform. So let’s check the same pros and cons to decide who is better.


Upstox vs Zerodha: conclusion

zerodha dominates upstox most of the rounds here. By our standards, it is the clear winner. They offer a good variety of features for a pretty good price.

So it doesn’t make upstox service are destructive; he is our second-best choice after zerodha for the best stockbroker.


Is Zerodha a reliable stockbroker?

Yes, Zerodha is regulated by SEBI and registered with CDSL, NDSL, and major stock exchanges in India. It has been in business since 2010 and has over 3.14 million active clients located across India.

Is upstox a reliable stockbroker?

Yes, Upstox is in the retail broking business since 2011. Upstox is SEBI registered and a member of all stock exchanges in India. It is backed by reputed investors like Ratan Tata, GVK Davix, and Tiger Global. 

Why is Zerodha better than upstox?

Zerodha scores over Upstox on the following points:
Zerodha continues to introduce new technology.
Zerodha’s web and mobile trading platforms are excellent in the market.
Zerodha offers online IPO application services.
Zerodha offers a free direct mutual fund platform to its customers.

Why is upstox better than Zerodha?

Upstox is better than Zerodha in the following counts:
Upstox provides access to 3rd party trading software. 
Upstox offers prepaid plans.
Upstox gives a 3-in-1 demat account.
Upstox offer free Demat account

Who is best – Upstox or Zerodha?

Both Upstox and Zerodha are leading online discount stock brokers in India. Zerodha is ranked 1st, and Upstox is ranked 2nd in our list. The services offered, brokerage charged, and business model of these brokers are pretty similar.
But if we have to choose between them, Zerodha is the best stock broker in India.

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