Zerodha Vs Upstox, Compare both charges and Pros & cons
As a trader or an investor, when one is set out to choose between the best discount brokers, then a comparative analysis between various brokerage firms and their trading platform is imperative.
Everybody would want their brokerage firm to provide unmatched services at lowest rates coupled with high speed trading platform for seamless trading experience.
An extensive comparison between Zerodha and Upstox might help to unveil the best among the two and thereby help the traders to take an informed decision.
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Details analysis of Zerodha and Upstox
Well, if you are wondering which one is the best, then analyse the comparison and match it with your objective.
Both Zerodha and Upstox are popular discount brokers in the country that offers a flat fees of Rs 20 for trading along with nil delivery charges. The charge of Rs 20 per trade is irrespective of trade volumes.
They both have their own set of advantages and offerings which should be considered while choosing the right one for you.
Zerodha vs Upstox : An Overview
| Zerodha | Upstox | |
| Year of Establishment | 2010 | 2012 |
| Broker Type | Discount Broker | Discount Broker |
| Valid Exchanges | BSE, NSE, MCX and NCDEX | BSE, NSE and MCX |
| Number of Branches | 22 | 4 |
| Head Office | #153/154, 4th Cross, J.P Nagar 4th Phase, Opp. Clarence Public School, Bengaluru – 560078 |
Sunshine Tower, 30th Floor, Senapati Bapat Marg, Dadar (W), Maharashtra – 400013 |
| URL | Zerodha.com | Upstox.com |
Zerodha vs Upstox : Account Opening Charges
When it comes to account opening fees, demat account opening charges and AMC; both Zerodha and Upstox charges their client more or less similarly with not much of a difference. Let’s have a comparative look.
| Zerodha | Upstox | |
| Trading A/C opening charges | Rs 200/- | Rs 249/- |
| Trading A/C AMC | FREE | FREE |
| Demat A/C opening charge | FREE | FREE |
| Demat A/C AMC | Rs 300/- | Rs 300/- |
Open a Free demat Account
Brokerage Plans and charges of Zerodha and Upstox
There are various plans that these brokerage firms offer to their clients and not all are comparable. We have picked up certain plans from both Zerodha and Upstox to give a clear picture on their fees.
| Zerodha | Upstox | ||
| Plan Type | Flat Brokerage | Upstox Basic | Upstox Priority (Higher Margin) |
| Equity Delivery | FREE | FREE | FREE |
| Equity Intraday | Rs 20 per executed order or 0.03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 30 per executed order or 0.10% whichever is lower |
| Equity Futures | |||
| Equity Options | Rs 20 per executed order | Rs 20 per executed order | Rs 30 per executed order |
| Currency Futures | Rs 20 per executed order or 0.03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 30 per executed order or 0.10% whichever is lower |
| Curreny Options | Rs 20 per executedorder | Rs 30 per executedorder | |
| Commodity Futures | Rs 20 per executed order or 0.03% whichever is lower | Rs 20 per executed order or 0.05% whichever is lower | Rs 30 per executed order or 0.10% whichever is lower |
| Commodity Option | Rs 20 per executed order | Rs 30 per executed order | |
Zerodha charges 0.03% for intraday and F&O as minimum brokerage, whereas Upstox’s minimum brokerage charge is 0.05%. For call and trade, you will be charged Rs 50 per executed order in Zerodha as compared to Rs 20 per trade in Upstox.
Zerodha vs Upstox : Transaction Charges
| Zerodha | Upstox | |
| Equity Delivery | NSE Rs 325 per Cr (0.00325%) BSE Rs 300 per Cr (0.003%) (each side) |
NSE Rs 325 per Cr (0.00325%)(each side) |
| Equity Intraday | ||
| Equity Futures | NSE Rs 190 per Cr (0.0019%) | NSE Rs 210 per Cr (0.0021%) |
| Equity Options | NSE Rs 5000 per Cr (0.05%) (on premium) | NSE Rs 5500 per Cr (0.055%) (on premium) |
| Curreny Futures | NSE Rs 90 per Cr (0.0009%); BSE Rs 22 per Cr (0.00022%) | NSE Rs 130 per Cr (0.0013%); BSE Rs 26 per Cr (0.00026%) |
| Curreny Options | NSE Rs 3500 per Cr (0.035%); BSE Rs 100 per Cr (0.001%) (on premium) |
NSE Rs 2900 per Cr (0.029%); BSE Rs 2600 per Cr (0.026%) (onpremium) |
| Commodity | Group A : Rs 260 per Cr (0.0026%) | Group A : Rs 290 per Cr (0.0029%) |
Margins comparison of Upstox & Zerodha
| Zerodha | Upstox Basic Plan | |
| Margins for Intraday | ||
| NSE / BSE Cash | 15X | 15X |
| Index Futures | 4.16X | 3X |
| Stock Futures | 3.33X | 3X |
| Index Option | 4.16X | 3X |
| Stock Option | 3.33X | 3X |
| NSE Currency | 2X | 4X |
| MCX Futures | 2X | 2.5X |
| Margin for OC / OCO | ||
| NSE / BSE Cash | Does not disclose upfront. You need to use BO; CO margin calculator | 20X |
| Index Futures | 20X | |
| Stock Futures | 5X | |
| Index Option Sell | 3X | |
| Stock Option Sell | 3X | |
| NSE Currency | 4X | |
| MCX Futures | 3X | |
| NSE Option Buy | 1.33X | |
Zerodha vs Upstox : Features, Mobile Platform, Mobile App
Depending on client’s preference and ease of access Zerodha offers versions of its trading platform that can be accessed through smartphones or web application or web portal in form of Kite Web, Kite mobile and Coin.
Similarly, Upstox has Pro Web, Dartstock, NEST Trader and Fox trader to facilitate its customers across web or iOS or Android platforms.
| Zerodha | Upstox | |
| Trading Platform | Kite Web, Kite Mobile for Android / iOS and Coin | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola |
| 3 in 1 Account | Yes | No |
| Charting | Yes | Yes |
| SMS Alerts | No | No |
| Automated Trading | Yes | No |
| Online Demo | Yes | Yes |
| Online Portfolio | No | No |
| Availability of Margin Trading Funding | No | No |
| Margin Against Shares(Equity Cash) | Yes | Yes |
| Margin Against Shares (Equity F&O) | Yes | Yes |
| Referral Program | Yes | Yes |
| Time for Intraday square-off | 3:20 PM | 3:15 PM |
Zerodha vs Upstox : Investment Options
| Zerodha | Upstox | |
| Stocks / Equities | Yes | Yes |
| Commodity | Yes | Yes |
| Currency | Yes | Yes |
| IPOs | Yes | Yes |
| Mutual Funds | Yes | No |
| Bond / NCD | No | No |
| Debt | No | Yes |
Please note that, neither Zerodha nor Upstox provide daily market reports to their clients.
News alerts, Quarterly results, and free tips are also not shared among their subscribers.
Zerodha vs Upstox : Customer Support
| Zerodha | Upstox | |
| Dedicated Dealer | No | No |
| Offline Trading | No | No |
| Online Trading | Yes | Yes |
| 24 / 7 Support | Yes | No |
| Email Support | Yes | Yes |
| Chat Support | No | Yes |
| Toll Free Number | No | No |
Zerodha vs Upstox : Pros and Cons
Let’s first look into the pros of Zerodha and Upstox.
| Zerodha Pros | Upstox Pros |
| Free equity delivery trades. Cash-N-Carry orders are free of any brokerage |
Basic plan offers brokerage free trading in Equity Delivery segment |
| Trading platform, Kite, is available for free | No brokerage for equity delivery trades |
| Flat fee is charged for brokerage services across segments and exchanges |
Trading software for mobile and web trading app is free of any charges |
| Direct MF investment is possible | Advance orders including AMO, CO and BO are available |
| Has over 10 lakhs active customers andgenerates 10% of daily volume at BSE, NSE and MCX | Margin Against Share and Trailing-Stop/Stop- Loss (SL) are available to all |
| Referral Program offers 10% brokerage share to clients being referred |
MFs are available for investment |
| Good Till Triggered (GTT) order are available | Higher leverage is available under different brokerage plan |
| Online IPO, FPO, Bonds and NCD&39, are available |
Now the cons of both the brokerage firms are given below
| Zerodha Cons | Upstox Cons |
| Stock tips, Research reports or Recommendations arent provided | No margin funding |
| Call & Trade is charged at extra Rs 50 per order | Unlimited monthly plans not available |
| Auto Square off is charged at extra Rs 50 per order |
Call & Trade attracts additional fees |
| Doesnt offer 3-in-1 account | Additional fee for square off done by the broker |
| Unlimited trading plan is not there | Higher demat debit transaction charges |
| Doesnt offer AMC Free Demat account | Stock tips, Research reports or Recommendations aren’t provided |
| Doesn’t offer NRI Trading and Demat Account |
Read More details of Zerodha review & Upstox review , Zerodha Account Opening
