In the world of online stock trading in India, two names frequently come up: Upstox and Zerodha. Both platforms have revolutionized the way retail investors engage with the stock market, offering powerful tools, competitive pricing, and user-friendly interfaces. However, choosing between them can be challenging.
This article provides an in-depth comparison of Upstox vs Zerodha, helping you make an informed decision about which platform best suits your trading needs.
Company Overview
Upstox: Founded in 2009, Upstox, formerly known as RKSV Securities, has quickly risen to become one of India’s leading discount brokers. The platform offers a wide range of trading options including equities, commodities, currencies, and derivatives, making it a versatile choice for different types of traders. Upstox is known for its user-friendly trading app, competitive brokerage fees, and robust trading tools.
Zerodha: Launched in 2010, Zerodha is India’s largest discount brokerage by the number of clients and daily trading volume. Pioneering the discount broking model in India, Zerodha has made stock trading more accessible to the average investor by reducing costs and providing a seamless trading experience. The platform is particularly popular among millennials and new investors due to its easy-to-use interface and comprehensive educational resources.
Account Opening and Charges
Upstox:
- Account Opening Fee: ₹249 for Equity, ₹149 for Commodities.
- Annual Maintenance Charge (AMC): ₹300 per year.
Zerodha:
- Account Opening Fee: ₹200 for Equity, ₹100 for Commodity.
- Annual Maintenance Charge (AMC): ₹300 per year.
Brokerage Charges
Both Upstox and Zerodha follow a similar brokerage model, but there are slight differences that could influence your decision based on your trading style.
Feature | Upstox | Zerodha |
|---|---|---|
Equity Delivery | Free | Free |
Equity Intraday | ₹20 per trade or 0.05% (whichever is lower) | ₹20 per trade or 0.03% (whichever is lower) |
Equity Futures | ₹20 per trade or 0.05% (whichever is lower) | ₹20 per trade or 0.03% (whichever is lower) |
Equity Options | ₹20 per trade | ₹20 per trade |
Currency Futures | ₹20 per trade or 0.05% (whichever is lower) | ₹20 per trade or 0.03% (whichever is lower) |
Currency Options | ₹20 per trade | ₹20 per trade |
Commodity | ₹20 per trade or 0.05% (whichever is lower) | ₹20 per trade or 0.03% (whichever is lower) |
Trading Platforms
Upstox:
Upstox offers a suite of trading platforms including the Upstox Pro Web and Upstox Pro Mobile. These platforms are equipped with features such as advanced charts, technical indicators, customizable watchlists, and real-time market data. Upstox also integrates with TradingView, allowing traders to leverage advanced charting and analysis tools.
Zerodha:
Zerodha provides two main trading platforms: Kite Web and Kite Mobile. Kite is known for its minimalistic design and user-friendly interface, making it ideal for beginners. It includes features like advanced charting tools, multiple order types, and integration with third-party apps like Sensibull for options trading and Smallcase for thematic investments. Zerodha also offers a desktop platform, Zerodha Pi, which is suited for advanced traders.
Research and Advisory
Upstox:
Upstox does not provide in-house research or advisory services. Instead, it focuses on providing raw data and tools for traders to perform their own analysis. This approach suits self-directed investors who prefer to make their own trading decisions based on technical and fundamental analysis.
Zerodha:
Zerodha offers a more comprehensive research and advisory suite. Through its educational initiative, Varsity, Zerodha provides detailed modules on various aspects of trading and investing. The platform also integrates with Sensibull, an options trading advisory tool, and Streak, an algorithmic trading platform, to enhance trading decisions.
Customer Support
Upstox:
Upstox offers customer support via phone, email, and social media channels. While their customer service is generally responsive, some users have reported delays during high trading volumes or market volatility.
Zerodha:
Zerodha provides customer support through phone, email, and an extensive help portal called the Zerodha Support Portal. The portal includes a wide range of articles and FAQs that address common queries, which can be particularly helpful for new users. However, similar to Upstox, some users have reported slower response times during peak trading hours.
Account Types and Features
Upstox:
- Demat Account: For holding shares in electronic format.
- Trading Account: For trading in stocks, commodities, and derivatives.
- Margin Trading Facility (MTF): Allows users to leverage their positions for intraday and delivery trading.
Zerodha:
- Demat Account: Required for all equity investments.
- Trading Account: For trading across various asset classes.
- 3-in-1 Account: In partnership with IDFC FIRST Bank, Zerodha offers a 3-in-1 account, combining banking, trading, and demat services for seamless fund transfers.
More Features
Upstox:
- Upstox Mutual Funds: Platform to invest in mutual funds directly without any commission.
- API Trading: Allows users to build their own trading applications using Upstox’s API.
- Integration with TradingView: Offers advanced charting tools and analysis for traders.
Zerodha:
- Coin by Zerodha: A direct mutual fund investment platform without any commissions.
- Console: Zerodha’s reporting and analytics platform that provides detailed reports on your trades and investments.
- Zerodha Varsity: A comprehensive educational resource for traders and investors.
User Experience and Reviews
Upstox:
Upstox has received positive feedback for its intuitive trading platforms and low brokerage fees. Users appreciate the advanced charting tools and seamless integration with TradingView. However, some traders have noted that the platform can lag during peak hours, which can be a drawback for high-frequency traders.
Zerodha:
Zerodha is widely praised for its user-friendly interface and educational resources. Its Kite platform is particularly favored for its clean design and ease of use, making it a great choice for beginners. On the downside, some users have reported occasional glitches and slower response times from customer support during market rush hours.
Our Recommendation: Which is Better?
Choosing between Upstox and Zerodha depends largely on your trading needs and preferences. If you are looking for a platform with advanced charting tools and a competitive fee structure, Upstox might be the better choice. On the other hand, if you value educational resources and a broader suite of trading tools, Zerodha could be the right fit for you.
Both platforms offer excellent services, and your decision should align with your trading style, whether you are a beginner looking for an easy-to-use interface or an experienced trader seeking advanced features.
Comparison Table
Feature | Upstox | Zerodha |
|---|---|---|
Account Opening Fee | ₹249 for Equity, ₹149 for Commodities | ₹200 for Equity, ₹100 for Commodity |
AMC | ₹300 per year | ₹300 per year |
Equity Delivery | Free | Free |
Equity Intraday | ₹20 per trade or 0.05% | ₹20 per trade or 0.03% |
Equity Options | ₹20 per trade | ₹20 per trade |
Trading Platforms | Upstox Pro Web/Mobile, API | Kite Web/Mobile, Pi |
Research & Advisory | Basic | Comprehensive |
Customer Support | Phone, Email | Phone, Email, Support Portal |
Mutual Fund Platform | Upstox Mutual Funds | Coin by Zerodha |
Educational Resources | Limited | Extensive (Varsity) |
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