Discount brokers Upstox and Zerodha both offer discount brokerage plans.
According to our research report on the top 20 stockbrokers in India, Zerodha has 64 lakh active clients. As for Upstox, it holds the fourth position with 31 lakh active users.
Our comprehensive comparison of Upstox vs. Zerodha charges will enable you to make an informed decision.
Upstox Vs Zerodha Comparison
#1. Zerodha vs Upstox Account Opening Charges
The Upstox Demat and Trading account is free of charge.
An online demat account with Zerodha costs Rs. 200. An MCX commodity account, however, costs an additional Rs. 100. Zerodha offers commodity trading as an optional feature.
Equity + Derivatives
Upstox : Free
Zerodha : Rs. 200 & Rs 100 for commodity trading a/c (optional)
For an equity trading and Demat account, Zerodha charges Rs. 400, and for a commodity trading account, Rs. 200. In contrast, Upstox does not offer offline account opening.
#2. Upstox Vs Zerodha Annual Maintenance Charges (AMC)
Demat and trading accounts at Upstox are free of AMC fees.
Zerodha charges Rs. 75 per quarter as AMC, which amounts to Rs. 300 per year.
Upstox : Free
Zerodha : Rs. 75 per quarter (Rs. 300 annually)
#3. Upstox Vs Zerodha Brokerage Charges
While Zerodha offers free equity delivery, Upstox charges a lower 2.5% or Rs 20, making Zerodha a better long-term investment option.
For intraday trades, Upstox and Zerodha charge a maximum brokerage of Rs 20. However, there is a catch for small traders. Zerodha charges a lower 0.03% or Rs 20 than Upstox.
Upstox will charge you Rs. 10 (lower of 0.05% or Rs. 20) if you execute a trade valued at Rs. 20,000 through both platforms, while Zerodha will charge you Rs. 6 (lower of 0.03% or Rs. 20).
On both platforms, intraday trading charges remain the same for high-volume traders. Especially for small trade volumes, Zerodha is a good option. You can start intraday trading with Rs 5000 as an initial investment.
Upstox
Zerodha
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#4. Call and Trade Charges
Upstox and Zerodha both charge Rs. 50 per executed order, including successful, executed, rejected, and canceled orders.
#5. Mutual Fund and IPO Investment Charges
With Upstox and Zerodha, you can invest in mutual funds through their platforms without incurring any fees.
Also, both platforms do not charge fees for IPO investments, making it easier for you to invest.
#6. Pledge and Unpledged Charges
Stock pledge margin can only be used to trade futures and options. On pledging, Zerodha charges Rs 30 per scrip. Unpledging is free of charge.
Meanwhile, Upstox charges Rs 50 per scrip for both pledges and unpledgings.
#7. Auto-square Off Charges
All open intraday positions after the cut-off time are charged Rs. 50 per auto-squared off by Upstox and Zerodha.
Other Charges
#1. CMR Copy Charges
Zerodha provides the first CMR (Client Master Report) copy for free, but subsequent requests are charged Rs. 20 + Rs. 100 (courier costs).
In contrast, Upstox charges Rs. 20 per page for providing physical copies of the CMR (Client Master Report).
#2. Funds Transfer Charges
Upstox charges a fee of Rs. 7 for net banking deposits, whereas Zerodha charges a fee of Rs. 9.
Upstox and Zerodha do not charge fees for deposits made through UPI, IMPS, NEFT, or RTGS.
#3. Charges for Cancelled Orders
Zerodha and Upstox do not charge cancellation fees for canceled orders.
The following reasons can lead to a cancellation:
Conclusion
Upstox is better than Zerodha only in terms of account opening fees and annual maintenance fees. A beginner investor can open a free account with no annual maintenance fees.
Zerodha, on the other hand, appeals to active investors and traders with its free equity delivery and lower brokerage charges.
