Both Zerodha and Upstox are popular discount brokers in India offering trading and investment services across equity, F&O, currency and commodities. Both are registered with SEBI and follow a discount-brokerage model.
In this detailed comparison, we compare Zerodha vs Upstox across account opening charges, AMC, brokerage charges, trading segments and other important parameters to help investors choose the broker that best suits their requirements.
Read: Zerodha Stock Trading, Demat, Brokerage and Reviews
Zerodha vs Upstox: History and Company Details
| Parameter | Zerodha | Upstox |
|---|---|---|
| About | Zerodha is an Indian discount broker founded in 2010 by Nithin Kamath and Nikhil Kamath. It provides trading and investment services across major Indian exchanges and financial products. | Upstox is an Indian discount broker founded in 2012. It provides online trading and investment services across equity, derivatives and other segments. |
| Type of Broker | Discount Broker | Discount Broker |
| Year of Incorporation | 2010 | 2012 |
| Founders | Nithin Kamath, Nikhil Kamath | Raghu Kumar, Ravi Kumar, S. Vishwanath |
| Headquarters | Bengaluru | Mumbai |
| Trading Segments | Equity, F&O, Currency, Commodity | Equity, F&O, Currency, Commodity |
Compare Zerodha vs Upstox: Trading & Demat Account Opening Charges
Account opening charges and annual maintenance charges are important factors when comparing Zerodha and Upstox. The charges may vary depending on the type of account and the applicable plans or offers.
Read: Upstox Stock Trading, Demat, Brokerage and Reviews
| Charges | Zerodha | Upstox |
|---|---|---|
| Trading Account Opening Charges | ₹200 for Equity + ₹100 for Commodity, where applicable | ₹0 / Free, subject to applicable offer |
| Trading Account AMC | ₹0 / Free | ₹0 / Free |
| Demat Account Opening Charges | ₹0 / Free | ₹0 / Free |
| Demat Account AMC | ₹300 per year | ₹0 / Free, subject to applicable terms |
Compare Zerodha vs Upstox Brokerage Charges
Zerodha Brokerage Plan
For equity delivery trades, Zerodha charges ₹0 brokerage. For intraday and other applicable trading segments, the brokerage is generally capped at ₹20 per executed order or the applicable percentage rate, whichever is lower, subject to the broker’s current pricing terms.
Upstox Brokerage Plan
Upstox also follows a discount brokerage model, with brokerage generally capped at ₹20 per executed order for several trading segments, subject to the applicable percentage rate and current brokerage plan.
| Trading Segment | Zerodha | Upstox |
|---|---|---|
| Equity Delivery | ₹0 (Free) | ₹20 per executed order or 2.5%, whichever is lower |
| Equity Intraday | ₹20 per executed order or 0.03%, whichever is lower | ₹20 per executed order or 0.05%, whichever is lower |
| Equity Futures | ₹20 per executed order or 0.03%, whichever is lower | ₹20 per executed order or 0.05%, whichever is lower |
| Equity Options | ₹20 per executed order | ₹20 per executed order |
| Currency Futures | ₹20 per executed order or 0.03%, whichever is lower | ₹20 per executed order or 0.05%, whichever is lower |
| Currency Options | ₹20 per executed order, subject to applicable plan | ₹20 per executed order, subject to applicable plan |
| Commodity Futures | ₹20 per executed order or 0.03%, whichever is lower | ₹20 per executed order or 0.05%, whichever is lower |
| Commodity Options | ₹20 per executed order, subject to applicable plan | ₹20 per executed order, subject to applicable plan |
| Open Account | Open Zerodha Account | Open Upstox Account |
Zerodha vs Upstox: Which Broker Is Better?
Both Zerodha and Upstox offer discount brokerage, online account opening and access to multiple trading segments. Zerodha may be attractive to investors who prefer a well-established trading ecosystem and ₹0 brokerage on equity delivery, while Upstox may appeal to users looking for a simple digital trading platform and promotional account-opening offers.
Before opening an account, investors should compare the latest brokerage rates, AMC, transaction charges, platform features, customer support and other applicable statutory charges because broker pricing and offers can change over time.
