Upstox vs Zerodha vs Groww: Compare them!!

Comparing brokers is very important while choosing your stockbroker. Upstox, Zerodha, and Groww are some of those stockbrokers that are always on the top of the list. Moreover, in this article, we have explained each of them in brief with a comparison. But first, you need to know some factors to make your decision better. There are several factors that you need to consider before choosing your stockbroker:

• Brokerage

The most important factor for your consideration should be brokerage that is taken by the broker. Moreover, lower the better but never compromise with the quality. The brokerage should be compared as per the similar facilities provided.  A proper analysis should be done rather than having an opportunity cost after the wrong decision.

• App Interface

The user interface plays an important role in finding the right stockbroker. Additionally, a poor interface can create a lot of problems, and every second matter while trading. You cannot afford to even waste a second in trying to fix technical issues. So select a broker with the best app interface that makes your process faster and easier. 

• Purpose of investment 

You should know the purpose of the investment you need a stockbroker for. Moreover, figure if it is for short-term or intraday, medium-term or long-term investors. Knowing the purpose will make you one step closer to the decision for the choice of the stockbroker.

What is Upstox?

Upstox is a trading platform that is offered by the RKSV which is a type of discount broker. It is a very popular platform that offers trading services at MCX, BSE, and MSE. Moreover, services like trading on commodity, equity, and currency derivatives. It is built on an Omnysis Nest Order Management system (OMS). Additionally, the customers can have its free app for smooth trading. 

It provides low-cost brokering services that provide opportunities at amazing prices. In addition to that the trading account and Equity delivery are free of cost. Upstox is a safe, trusted, and legit broker that is based in Mumbai. 

What is Zerodha?

Zerodha is a Broking platform that is the top broker in India. The most attractive part of using Zerodha is its low charges and accurate services. Moreover, it is a financial services company in India that is a member of NSE, MCX, and BSE. Furthermore, it was founded back in the year 2010 and since then it has been a helpful broker. It is a discount broker that provides online trading services to its customers that are of satisfactory levels. Moreover, it uses the best technology to serve its clients. 

What is Groww?

Like Upstox and Zerodha, Groww is also an India-based platform for online Investment. In addition to that Groww allows its customers to open an e-account for transacting in stocks and mutual funds. Investing in mutual funds is very safe and easy on Groww. All the personal and sensitive information is encrypted to protect your privacy. Moreover, every transaction by Groww is done via BSE from and to AMC. 

Comparison between Upstox, Zerodha, and Groww

Here is a detailed comparison of Upstox vs Zerodha vs Groww that will help you for better decision and analysis.

Head points

Groww

Upstox

Zerodha

Account Opening Charges: 

The one-time charge for an Opening trading account and Demat account.

It is Rs. 0 on Groww. (Limited Period Offer of Rs. 200)

Rs. 0

For trades in F&O, Currency and Equity: Rs. 200 and Rs. 300 if any commodity added

Account maintenance Charges (AMC):

Charged to manage your account

Rs.  75 plus GST that is charged quarterly. (Rs. 300 per Year)

Rs. 150 per year plus GST

Equity Delivery:

Rs. 0

Equity Intraday:

0.03% or Rs.20 per executed order, whichever is less

Transaction Charges:

Charged by the stock exchange for trading

0.00325% by NSE and 0.003% by BSE for every order (both buy and sell)

0.00325% by NSE for both buy and sell, BSE charges vary according to the scrip group

It is the same for delivery and intraday.

NSE: 0.00325%

BSE: 0.003%

Brokerage:

Charged by the broker in order to execute the order (both buy and sell)

Equity Delivery:

Rs. 0

Equity Intraday: 0.05% of the turnover, (maximum Rs. 20) per order executed.

Equity Delivery:

Rs. 0

Equity Intraday: 0.05% or Rs. 20 per executed order whichever is less

Equity Delivery:

Rs. 0

Equity Intraday:

0.03% or Rs.20 per executed order, whichever is less

Commodities/ Securities Transaction Tax:

It is charged by the government when you transact over the exchange

Equity Delivery:

0.1% of the order amount

Equity Intraday:

0.025% of the order amount 

Delivery:

0.1% on buy and sell

Intraday:

0.025% on sell only

Delivery:

0.1% on buy and sell

Intraday:

0.025% on sell only

Payment Gateway Charges:

Charged to deposit money 

Rs. 0

None

Rs. 9 Plus GST

Stamp Duty:

Charged by the government for contract note as stamp duty

Different for each state, the Maximum is 0.018%

0.015% on the buy

0.015% on buy or Rs.1500 per crore on buy

Depository Participant Charges:

Charged by the Depository participants for debiting the stock from Demat account

Buy Order:

No Charges

Sell Order:

Rs. 8 + Rs. 5.50+ GST per ISIN per day on the Groww platform irrespective of the quantity sold.

Delivery: Rs. Rs. 18.5/ scrip per day that is only on sell.

Intraday:

No Charges

Rs. 13.5 + GST per scrip is debited on that day from the trading account when sell take place.

GST

18% whenever applicable

18% (on transaction + demat charges + brokerage)

18% (on transaction charges + brokerage)

Clearing Charges

Zero

None

0.0002% on turnover

 

Conclusion

We have discussed some factors like purpose of investment, brokerage, app interface, etc that can help you for a better selection of stockbroker. All three (that is Upstox, Zerodha, and Groww) stockbrokers were explained in brief that will give a clear idea about the background. Moreover, the comparison table that is provided almost covers every point for comparison. Now choose the stockbroker that suits best according to your requirements and with the best features.