Upstox and Zerodha are two of India’s leading discount brokers, offering competitive trading platforms, low brokerage fees, and advanced trading tools. Both platforms cater to different types of investors, from beginners to seasoned traders. In this article, we will compare Upstox and Zerodha across key parameters to help investors choose the best brokerage platform.
1. Company Overview
Upstox
- Founded in 2011 as RKSV Securities, later rebranded as Upstox.
- Backed by investors such as Tiger Global and Ratan Tata.
- Offers trading in equities, commodities, currencies, derivatives, and mutual funds.
- Known for its technology-driven approach and user-friendly mobile app.
Zerodha
- Founded in 2010 by Nithin Kamath.
- India’s largest stockbroker by active clients.
- Offers trading in equities, commodities, currencies, derivatives, mutual funds, and bonds.
- Recognized for its transparent pricing and reliable trading platform.
2. Brokerage Charges
| Feature | Upstox | Zerodha |
|---|---|---|
| Equity Delivery | Free | Free |
| Intraday Trading | ₹20 per order or 0.05% (whichever is lower) | ₹20 per order or 0.03% (whichever is lower) |
| F&O Trading | ₹20 per order | ₹20 per order |
| Currency & Commodity | ₹20 per order | ₹20 per order |
| Mutual Funds | Free | Free |
Winner: Both platforms offer similar brokerage charges, but Zerodha has a slight edge in lower intraday trading fees.
3. Trading Platforms and User Experience
Upstox Trading Platform
- Upstox Pro Web & App: Fast and intuitive interface with real-time market data.
- Features: Advanced charting tools, customizable watchlists, and in-depth analysis.
- Pros: Easy-to-use UI, faster execution, and good mobile experience.
- Cons: Some users report occasional lag during peak hours.
Zerodha Trading Platform
- Kite Web & App: Lightweight, fast, and feature-rich.
- Features: Charting tools, API integration, seamless fund transfer, and advanced order types.
- Pros: Stable platform with minimal downtime, widely preferred by traders.
- Cons: Limited customization compared to Upstox.
Winner: Zerodha’s Kite is considered more stable and widely trusted, while Upstox Pro offers a more intuitive mobile experience.
4. Account Opening and AMC Charges
| Feature | Upstox | Zerodha |
|---|---|---|
| Account Opening Fee | ₹0 (Limited time) | ₹200 |
| Annual Maintenance (AMC) | ₹150 | ₹300 |
Winner: Upstox offers lower AMC charges and free account opening, making it a more cost-effective option for beginners.
5. Customer Support
Upstox
- Provides support via phone, email, and chatbot.
- Live chat feature available on the app.
- Customer support response time varies.
Zerodha
- Offers support through tickets, email, and phone.
- Dedicated support forum (Z-Connect) for troubleshooting.
- Known for detailed help documentation but slower response times.
Winner: Upstox offers quicker customer support, whereas Zerodha has better knowledge-based resources.
6. Research and Educational Resources
Upstox
- Limited research reports and educational resources.
- Basic blog posts and market insights.
Zerodha
- Varsity by Zerodha: One of the best free stock market education platforms.
- Detailed research and learning material for beginners and experienced traders.
Winner: Zerodha leads in investor education and research resources.
7. Margin and Leverage
| Segment | Upstox | Zerodha |
|---|---|---|
| Equity Intraday | Up to 5x | Up to 5x |
| Equity Futures | Up to 4x | Up to 4x |
| Commodity & Currency | Up to 3x | Up to 3x |
Winner: Both brokers offer similar margin and leverage facilities, making them equal in this category.
8. Mutual Funds and Investment Options
| Investment Type | Upstox | Zerodha |
|---|---|---|
| Direct Mutual Funds | Yes | Yes |
| SIP Investment | Yes | Yes |
| Bonds & Government Securities | No | Yes |
Winner: Zerodha provides more diversified investment options, including bonds and G-Secs.
9. Mobile App Performance
Upstox App
- Rated 4.2/5 on Google Play Store.
- Good for beginners but occasional technical glitches.
Zerodha Kite App
- Rated 4.3/5 on Google Play Store.
- Minimalistic UI, fast execution, and stable performance.
Winner: Zerodha Kite is more stable, but Upstox Pro offers a more modern interface.
Final Verdict: Which One Should You Choose?
| Criteria | Winner |
|---|---|
| Brokerage Fees | Zerodha (Lower intraday fees) |
| Trading Platform | Zerodha (More stable and trusted) |
| Account Charges | Upstox (Lower AMC and free opening) |
| Customer Support | Upstox (Faster response times) |
| Research & Education | Zerodha (Varsity and in-depth materials) |
| Investment Options | Zerodha (More diversified) |
| Mobile App Experience | Zerodha (More stable performance) |
Both Upstox and Zerodha have their strengths and cater to different types of traders and investors.
- Choose Zerodha if you prioritize stability, research, and long-term investing.
- Choose Upstox if you prefer lower account fees, faster customer support, and an intuitive mobile experience.
Ultimately, the best choice depends on individual preferences, trading style, and financial goals.
