Zerodha vs Upstox : Comparison of both charges and features
In the fast-paced world of investing and trading, finding the right stock broker is crucial. Today, we'll delve into a comparison between two prominent names in the Indian market – Zerodha and Upstox. As discount brokers, both Zerodha and Upstox offer competitive charges that closely mirror each other. Let's take a closer look at their fee structures, trading platforms, and additional features to help you make an informed decision.
When it comes to cost, both Zerodha and Upstox stand out for their affordability. To break it down further, we'll explore their charges for various services. In terms of the trading platform, a seamless and user-friendly interface is paramount for investors. We'll analyze the strengths and weaknesses of both Zerodha's and Upstox's platforms, considering factors like ease of use, accessibility, and features.
Beyond charges and platforms, there are additional features that set these brokers apart. From research tools to customer support, we'll uncover the distinctive aspects that might influence your choice between Zerodha and Upstox.
Whether you're a seasoned investor or a budding trader, this comparison aims to provide valuable insights into making the right decision for your financial journey in the Indian market.
Detailed analysis of Upstox vs Zerodha
Both Zerodha and Upstox are leading brokers in India in terms of customer base. Zerodha is number one stock broker in terms of customer base and Upstox is second. Upstox is growing fast and trying to narrow the gap. Charges in both these brokers are similar. They both have maximum Rs.20 cap per order for intraday and future and option trades and nil for delivery trades. Annual maintenance charge is also same.
Zerodha vs Upstox : An overview
Zerodha | Upstox | |
Established on | 2010 | 2012 |
Type | Discount broker | Discount broker |
Exchanges | NSE,BSE,MCX,NCDEX | NSE,BSE,MCX |
Head office | Bengaluru | Mumbai |
Zerodha vs Upstox : Account opening and Annual maintenance charges
Zerodha | Upstox | |
Equity Segment | 200 | Free |
Commodity Segment | 100 | Free |
Trading account AMC | Free | Free |
Demat account AMC | Rs.300 | Rs. 300 (currently there is a free amc offer for short time) |
Currently account opening is free in Upstox. It can change anytime as it is a limited time offer. Annual maintenance charge or AMC is same in both zerodha and Upstox. In upstox it is charged monthly Rs.25+gst (MMC) which is same as Rs. 300 charged by zerodha yearly.
Zerodha vs Upstox : Brokerage comparison
Zerodha | Upstox | |
Equity delivery | Free | 2.5% or Rs.20 whichever is lower per order |
Equity Intraday | 0.03% or Rs.20 whichever is lower per order | 0.05% or Rs.20 whichever is lower per order |
Equity futures | 0.03% or Rs.20 whichever is lower per order | 0.05 % or Rs.20 whichever is lower per order |
Equity options | Rs. 20 per order | Rs. 20 per order |
Currency futures | 0.03% or Rs.20 whichever is lower per order | 0.05% or Rs.20 whichever is lower per order |
Currency options | Rs. 20 per order | Rs. 20 per order |
Commodity futures | 0.03% or Rs.20 whichever is lower per order | 0.05% or Rs.20 whichever is lower per order |
Commodity options | Rs. 20 per order | Rs. 20 per order |
Minimum brokerage charge in Upstox is 0.05 and in zerodha 0.03. Maximum brokerage is capped at Rs.20 per order. Full service brokers like motilal oswal, share khan, icici direct charge brokerage based on total transaction amount. But here it is capped at 20 rupees per order, whatever may be the quantity. So here in upstox and zerodha, traders can save a good amount as brokerage.
Call and trade charge is Rs. 50 in Zerodha and Rs. 20 in upstox. Your intraday positions will auto square off if you forget to exit the positions before 3.15. Auto square off charge is Rs.50 in zerodha and Rs.20 in upstox.
Other transaction charges are similar in both upstox and zerodha. There may be a slight difference, but are negligible.
Upstox vs Zerodha : Who gives more margin
After new SEBI margin rule, almost all brokers now provide similar margin on all segments. Margin will be maximum 50% of VAR+ELM margin from March 2021 in all brokers. From September 2021 traders will require full VAR+ELM margin for intraday trades.
Upstox discontinued its priority pack which was giving more leverage for traders. They can't give more margin on both cover order (CO) and bracket order (BO) also after new SEBI margin rule.
You can check zerodha margin calculator to check exact required for trading in each segment. Upstox uploads daily margin details as pdf and excel sheet in dropbox. You can find this dropbox link in upstox homepage. Upstox also have a margin calculator page. But they don't update it regularly. So its better to check that dropbox file for daily margins in upstox.
Zerodha vs Upstox : Trading platform comparison
Both zerodha and upstox have mobile app to trade from mobile phone, web and desktop platform to trade using a computer. Mobile app is available for both android and IOS.
Zerodha kite web and zerodha kite mobile are simple and very user friendly trading tools. Even a new user can easily learn to use it. It has advanced charts of ChartIQ and Tradingview. It also has all drawing tools and indicators required for analysis. Zerodha recently introduced features like SIP for SIP investments in stocks. Another useful feature in web platform is margin displayed in order placement window.
Upstox web 3.0 is upstox's web trading platform. It also have charts of both chartsIQ and tradingview. Another unique feature in upstox pro 3.0 is basket order for option traders. Upstox pro web is their mobile application which is available in both IOS and android. Upstox mobile application also have a simple and user friendly interface.
Upstox recently introduced their tradingview based platform. Now traders can use any of these two web platform as per their needs.
For more details about upstox pro web check this page upstox pro web review with video
Check upstox pro mobile app review for detailed mobile app review with video.
Pi is zerodha's desktop trading platform. Upstox have dartstock, nest and fox trader as desktop trading platform. You can read more about upstox trading platforms in this blog post Upstox pro detailed analysis.
3 in 1 account in Upstox and Zerodha
Both upstox and zerodha provide 3 in 1 account option. Upstox have tieup with indus ind bank and provide 3 in 1 account named indusstox. This account have a feature called smart trasfer which help us to earn interest on idle money left in trading account.
Zerodha have tie-up with IDFC first bank to provide 3 in 1 account.
Main advantage of 3 in 1 account is quick fund transfer. It also eliminates charges and other issues related with traditional fund transfer methods like UPI, NEFT etc. Currently there is no additional charges for 3 in 1 accounts.
Customer Support
Both are discount brokers. So offline office support will not be available in both brokers. Upstox have chat option in its mobile app for raising support tickets. Phone and email support is also there. Zerodha have a dedicated support portal which have answers to almost all queries of users. You can also raise ticket through their support portal.
Zerodha vs Upstox : Other features comparison
Margin trading facility
Margin trading facility for delivery trades is not available in both brokers now. Before, it was available in Upstox. But they stopped it after new sebi margin and pledging related rule.
Update : Upstox restarted their margin trading recently. For more details you an check our previous post about upstox, where I have included all information about Upstox.
Algo trading platform
Zerodha streak is a semi algo trading platform available for zerodha users. This service is not free, but have a monthly fee.
Currently there is an offer for zerodha users. If you have zerodha account, you can use streak for free. There won't be any monthly subscription fees. Zerodha didn't mentioned any time period for this offer yet.
API availability
Both upstox and zerodha provide API for algo traders. But in upstox you have to request through your authorised partner for API access. We are authorised partners and if you have opened an account using our link, you can contact us for API access.
API is free of charge in Upstox. In zerodha, there will be a monthly charge of Rs. 2000. An additional Rs.2000 will be charged if you opt for historical API.
Referal programs in Zerodha and Upstox
Both upstox and zerodha give referal benefits to users. Here upstox give more benefits than zerodha for referals. Upstox give an initial referal benefit amount and brokerage share. Zerodha now give brokerage share and some points which you can use to buy zerodha products like streak, sensibul etc.
Zerodha vs Upstox IPO investment platforms
Both zerodha and upstox have dedicated pages for IPO applications. These pages will have basic details about the IPO and some details about company.
Upstox ipo application page : https://invest.upstox.com/ipo/
Zerodha ipo application page : https://zerodha.com/ipo/
Mutual fund investment platform
Both upstox and zerodha have mutual fund platforms. You can get details of various mutual funds, compare and buy funds from there.
Zerodha coin is dedicated platform for direct mutual fund investment. It is a free platform and you can buy direct funds using this platform. We have explained about zerodha coin in detail in comparison post of direct mutual fund platforms.
Commodity and currency trading in zerodha and upstox
Both broker have commodity and currency segment. As we discussed above margin and brokerage is almost similar in both brokers.
Zerodha vs Upstox : Pros and Cons
As we discussed above free delivery trades, flat brokerage for intraday and f&o, advanced trading platforms, mutual fund platforms etc are some useful features of upstox and zerodha. Other than that, both zerodha and upstox now have GTT or good till triggered order, which is very useful for positional or short term traders. Zerodha also have sensibull, a dedicated platform for option traders. Upstox have their own option analysis platform.
Both zerodha and upstox are discount brokers. So stock tips, research reports or recommendations are not provided. Upstox now provide daily market reviews for its users.
Call and trade charge and auto square off charge in zerodha is Rs.50 which is a bit high.
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