Upstox vs Zerodha Comparison 2024: Find the Best Discount Broker in India

Upstox vs Zerodha: A Detailed Comparison

When choosing between Upstox and Zerodha for your trading needs, several factors come into play. Let’s delve into the particulars of each platform to help you make an informed decision.

Platform Features

Upstox

– Can trade in Stocks, Equity F&O, Currency F&O, and Commodity F&O.
– No additional charges for opening an account.
– AMC fees are Rs. 0.
– Offers intraday margin of up to 5X.
– Charges Rs. 50 per order for Call and Trade.

Zerodha

– Allows trading in Stocks, Equity F&O, Currency F&O, Commodity F&O, Bonds, and Govt-Securities.
– Requires Rs. 200 for account opening.
– AMC fees are Rs. 300 yearly.
– Provides an intraday margin of up to 5X.
– Imposes Rs. 50 per order for Call and Trade.

Brokerage Charges

Equity Delivery

– Upstox charges the lower of Rs. 20 or 2.5% per order.
– Zerodha charges Rs. 0.

Equity Intraday, Futures, Options, Currency & Commodity FNO

– Both Upstox and Zerodha charge the lower of Rs. 20 per executed order or 0.05% for Upstox and 0.03% for Zerodha.

Charges for Call and Trade

– Both platforms impose Rs. 50 per order.

Margin for Intraday

– Both Upstox and Zerodha offer a margin of up to 5X.

Account Opening Charges

– Upstox provides account opening for free.
– Zerodha charges Rs. 200.

AMC Fees

– Upstox has no AMC fees.
– Zerodha charges Rs. 300 yearly.

In the brokerage comparison, Zerodha stands out with zero charges for equity delivery trades. For Intraday and FNO trades, both platforms charge a fixed Rs. 20. Zerodha has a slightly lower charge percentage for these trades, potentially making it more cost-effective for lower-order values.

Whether you prioritize account opening fees, AMC charges, or specific trading features, understanding the nuances of Upstox and Zerodha can guide you towards a choice that aligns with your trading preferences and requirements.

Comparison of Upstox and Zerodha Account Charges

When it comes to account charges, Upstox and Zerodha differ in their fee structures.

Upstox

– Online account opening is free of charge.
– There are no annual maintenance charges (AMC) for an Upstox account.

Zerodha

– Charges a fee of Rs. 200 for online account opening.
– Imposes an annual maintenance charge (AMC) of Rs. 300 per year.

In summary, while Upstox offers free online account opening and does not have any AMC, Zerodha incurs a nominal fee for opening an account and has an annual maintenance charge of Rs. 300. Understanding these account charges is crucial for investors to make an informed decision based on their preferences and trading requirements.

Upstox (RKSV) Demat & Trading Account Review

Formerly known as RKSV Securities, Upstox caters to high-volume traders seeking lower brokerages, AMC fees, and reliable trading platforms.

For intraday trades, Upstox charges a fixed brokerage of Rs. 20 per trade, providing cost-effective solutions regardless of the trading volume.

Backed by reputable investors such as Tiger Global, Ratan Tata, and GVK Davix, Upstox assures reliability in its brokering services.

Upstox facilitates trading in Stocks, Futures & Options, Currency, Commodity, and even allows investments in mutual funds.

RKSV (Upstox) Brokerage Charges

– Equity Delivery: Lower of Rs. 20 per executed order or 2.5%
– Equity Intraday, FNO: Lower of Rs. 20 per executed order or 0.05%
– Currency Futures, Commodity Futures: Lower of Rs. 20 per executed order or 0.05%
– Currency Options, Commodity Options: Rs. 20 per executed order

Upstox Margin Provided

– NSE/ BSE Cash: 5X
– Index Futures, Stock Futures, Index Option Sell, Stock Option Sell, NSE Currency, MCX Futures: 1.33X

Upstox Account Opening Charges

– Upstox Equity Demat and Trading: Rs 0
– Upstox Demat Yearly Maintenance Charges: Rs. 0

Pros

– No Demat opening charges
– Zero AMC fee
– Fixed and low brokerage irrespective of trade volume

Cons

– Limited investment options in G-Sec, Bonds, and SDL
– Customer support could be improved

Upstox Account Best For

Upstox is ideal for those seeking free account openings with zero AMC charges. If you value low brokerage charges, high margins, and a hassle-free account opening process, Upstox is a suitable choice.

Understanding its pros and cons helps investors make informed decisions based on their trading preferences and requirements.

Zerodha Demat & Trading Account Review

Zerodha pioneered the discount broking model in India, introducing a revolutionary pricing strategy with zero brokerage for delivery and a fixed Rs. 20 for other trades.

As the most trusted and reputed discount broker in India, Zerodha’s success is attributed to its exceptional customer support. Investors can reach out through calls or emails and receive prompt and positive responses.

To cater to user queries comprehensively, Zerodha provides a resourceful portal featuring calculators, news updates, circulars, application forms, and other valuable resources. Additionally, new traders can benefit from Zerodha Varsity and the Trading QnA portal, covering topics from basic to advanced trading.

While other discount brokers may have imitated Zerodha’s pricing model, few have matched its commitment to customer support.

Zerodha facilitates trading in

– Stocks & IPO
– Derivatives – Stocks, Commodity, and Currency
– Direct mutual funds
– Bonds and Government Securities

Brokerage Charges

At Zerodha, traders pay a maximum of Rs. 20, regardless of the trading volume.

– Equity Delivery: Rs. 0
– Equity Intraday & Futures: Lower of Rs. 20 per executed order or 0.03%
– Equity Options: Rs. 20 per executed order
– Currency, Commodity FNO: Lower of Rs. 20 per executed order or 0.03%

Understanding Zerodha’s commitment to transparent pricing, robust customer support, and a diverse range of tradable assets can help investors make informed decisions based on their trading preferences.

Value-Added Services and Margin Offered by Zerodha

While Zerodha stands out for its transparent and low-cost brokerage model, it does charge for value-added services like providing stock reports, screeners, and small cases.

Margin Offered

Zerodha extends margin or leverage on Margin Intraday Square off (MIS), Cover orders (CO), and Bracket orders (BO) products. The Intraday (MIS) margin is as follows

– Equity Delivery: No Margin
– Intraday Equity: Up to 5X depending on the scrip
– Index F&O: 1X
– Stock F&O: 1X
– Currency Futures: 1X
– Commodity Futures: 1X

Cover Orders (CO) and Bracket Orders (BO) involve placing a stop-loss with the initial order, reducing the overall risk of the trade. Traders can utilize the BO & CO margin calculators to determine the exact margin required before executing a trade.

For example, when placing an Equity futures sell order for a scrip like Asian Paints, specifying the quantity, price, and stop-loss price in the calculator will provide the required margin.

Zerodha Account Opening Charges

The charges for opening an account online are as follows:

– Trading and Demat account opening charges: Rs. 200
– Commodity Account: Rs. 100
– Annual maintenance charges: Rs. 300

Pros

– No brokerage charges for delivery.
– Low fixed brokerage charges for trading.
– No minimum balance is required to open and maintain the account.
– Good customer support.
– Provides best trading platforms.

Cons

– Some customers may face delays and service disruptions during trading hours.

Best For

Zerodha is ideal for traders seeking excellent online trading platforms, lower brokerage charges, and robust customer support.

Zerodha, Upstox, 5paisa – A Comparative Overview

Trading Capabilities

– Zerodha: Stocks, Equity F&O, Currency F&O, Commodity F&O, Bonds, and Govt-Securities.
– Upstox: Stocks, Equity F&O, Currency F&O, Commodity F&O.
– 5paisa: Stocks, Equity F&O, Currency F&O.

Brokerage Charges

– Zerodha: Free for Equity Delivery, Lower of Rs. 20 per executed order or 0.03% for Equity Intraday, FNO, and Commodity Futures, Lower of Rs. 20 per executed order or 0.03% for Commodity Options.
– Upstox: Free for Equity Delivery, Lower of Rs. 20 per executed order or 0.05% for Equity Intraday, FNO, Commodity Futures, Rs. 20 per executed order for Commodity Options.
– 5paisa: Free for Equity Delivery, Rs. 10 per executed order under a special plan for Equity Intraday, FNO.

Margin for Intraday

– Zerodha, Upstox, 5paisa: 5X.

Account Opening Charges

– Zerodha: Demat & Trading Account – Rs. 200, Demat AMC Fees – Rs. 300.
– Upstox: Free for Demat & Trading Account, Demat AMC Fees – Rs. 150.
– 5paisa: Free for Demat & Trading Account, Demat AMC Fees – Rs. 45 per traded month, Rs. 540 yearly.

Best For

– Zerodha: Ideal for a cost-conscious trader entering the world of stock investing, known for flat Rs. 20 per trade brokerages, a simple yet powerful trading platform, and excellent customer support.
– Upstox: Suitable for a trader looking for zero account opening charges, lower AMC, and competitive brokerage offers.
– 5paisa: Perfect for those seeking the cheapest brokerage charges.

Reasons to Choose Zerodha

Zerodha is an ideal choice for budget-conscious traders embarking on their stock investing and trading journey. Known for its transparent and cost-effective brokerage model, Zerodha offers a flat Rs. 20 per trade. The platform boasts a simple yet powerful trading interface, coupled with top-notch customer support.

Reasons to Prefer Upstox

Upstox, with its brokerage plans similar to Zerodha, caters to both novice and intermediate traders and investors. One of its prominent advantages is providing one of the fastest trading platforms, a crucial element for successful intraday trading. The added perks of free account opening and zero annual maintenance charges make Upstox an attractive choice for traders and investors.

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