Zerodha vs Upstox: Which One’s Better?

Choosing between Zerodha and Upstox can be a tough decision.

Both are discount brokers that offer trading at a low cost. However, they have different strengths and weaknesses.

Zerodha is the largest discount broker in India with over 10 lakh clients. It has a simple and easy-to-use trading platform. Zerodha also offers a wide range of products and services, including mutual funds and insurance.

Upstox has a very advanced trading platform that is suitable for professional traders. Upstox also offers margin trading and has a lower account opening balance requirement.

Let’s have a detailed comparison between the two.

What is Zerodha?

Zerodha is a technology-driven financial services company offering retail and institutional broking, commodities and currency brokerage, and distribution of mutual funds and insurance products.

It is India’s first and largest discount broker, Zerodha gives you access to equity, currency, and commodity trading at BSE, NSE, and MCX through our multiple trading platforms.

What is Upstox?

Upstox is a technology-driven company that aims to make stock trading simple and accessible to everyone.

Upstox offers a mobile app and a web platform for trading in stocks, mutual funds, and other investment instruments. It also provides research and analysis tools to help investors make informed decisions. Upstox has a flat fee structure and doesn’t charge any hidden fees.

Upstox is a SEBI-registered broker and is a member of the NSE, BSE, and MCX. It offers a safe and secure platform for trading with robust technology infrastructure. Upstox is committed to providing the best possible experience to its users and is constantly innovating to make stock trading simple and convenient.

Key Features of Zerodha

There are many features that come with Zerodha’s desktop, and mobile application. Let’s have a look at all of them in detail.

1. Zero Brokerage

Zerodha doesn’t charge any brokerage for investments and trading. This means that you can invest and trade without incurring any fees. All the brokerage charges are levied on Futures & Options and Intraday trades.

2. No Minimum Balance

There is no minimum balance required to open an account with Zerodha. This makes it accessible to everyone, regardless of their investment amount. This also makes Zerodha perfect for many beginners, as they don’t plan to invest a lot in the markets.

3. Powerful Trading Platforms

Zerodha offers powerful trading platforms that are user-friendly and packed with features. The platforms include Zerodha Kite, Zerodha Pi, and Zerodha Streak. All these platforms are used by lakhs of users daily, and Zerodha also offers complete support and assistance in these domains.

4. Comprehensive Research and Analysis

Zerodha provides comprehensive research and analysis to help you make informed investment decisions. The company has a dedicated team of analysts who produce daily, weekly, and monthly reports. These reports are very useful to predict the direction of the market or even use as a confirmation for your predictions.

5. Dedicated Customer Support

Zerodha has a dedicated customer support team that is available to answer your queries and resolve any issues you may have. No matter what errors or problems you are facing, Zerodha’s support team is always available to give all the guidance and assistance.

Key Features of Upstox

Upstox is filled with features for the users. From advanced tools to tutorial guides, you get to find a lot of helpful tools in the platform. Here is a detailed description of all the features.

1. Affordable Pricing

Upstox offers competitive pricing with no hidden charges. Its brokerages are some of the lowest in the industry. These low charges make it the ideal investment and trading platform for newbie traders and investors who can’t afford hefty fees and charges.

2. Advanced Trading Platforms

Upstox provides advanced trading platforms for web, mobile, and desktop, that are user-friendly and loaded with features. These can help traders and investors practice in-depth research on their investing instruments. It also gives many tutorial videos to help the users understand all the tools.

3. Research & Analysis

Upstox’s in-house research team provides actionable insights and trading recommendations to help traders make informed decisions. These updates and information are very valuable as they give all the insights on the probable moves expected in the markets. So, you can keep an eye on these updates to uplift your trading and investing skills.

4. Wide Range of Products & Services

Upstox offers a wide range of products and services including equity trading, commodities trading, currency trading, mutual funds, and more. Along with these, you also get the latest updates straight from the markets.

5. Ease of Use

Upstox is easy to use, even for first-time traders. Its platforms are designed for simplicity and user-friendliness. Even after this, Upstox has many tutorial guides that help you in getting used to the platform instantly.

6. Safety & Security

Upstox is a SEBI-registered stock broker and is a member of NSE, BSE, and MCX. It follows strict safety and security norms to protect the interests of its clients. So, you can be completely relaxed regarding the safety of your account and money while using Upstox.

Products Offered By Zerodha

Zerodha is an online brokerage firm that offers a wide range of products and services for investors. Some of the products offered by Zerodha include brokerage services, research and analysis, advisory services, and more.

Zerodha offers a variety of brokerage services that cater to different types of investors. For instance, the firm offers online trading platforms for active traders, as well as Zerodha Pi and Kite for more casual investors. Zerodha also has a mobile trading app called Zerodha Kite.

Its research and analysis tools are top-notch, and the firm offers a wide variety of reports and analyses for its clients. The firm’s advisory services are also very comprehensive, and Zerodha’s team of ex/ts can help investors with all aspects of their investment portfolios.

Overall, Zerodha is a one-stop shop for all your investment needs. Whether you’re an active trader or a more casual investor, Zerodha has the products and services that you need to succeed.

Products Offered By Upstox

Upstox offers two types of trading platforms – a basic platform for new investors and a pro platform for experienced investors. The basic platform is free to use and offers all the features that a new investor would need to start trading. The pro platform is a paid platform that offers advanced features such as real-time market data, advanced charting, and an option to create custom portfolios.

Upstox has a wide range of products that cater to the needs of different types of investors. If you want to practice equity trading, Upstox offers intraday trading, delivery trading, and derivatives trading. To use intraday trading, Upstox offers a margin of up to 5x for intraday trades. For delivery trades, there is no margin, and the trade is settled on the next trading day. Lastly, for derivatives trading, Upstox offers futures and options trading.

Upstox also offers a mobile trading app that allows investors to trade on the go. The app is available for both Android and iOS devices. Upstox has a very user-friendly website and trading platform. The platform is suitable for both new and experienced investors.

Pros of Zerodha

• Zerodha is the most popular brokerage app in India.
• It offers a flat brokerage across all segments including equity, currency, and commodities at Rs.20.
• The trading platforms are very easy-to-use.
• It offers a plethora of products and services including equity trading, insurance, and mutual funds.
• The customer support team is very fast and responsive to the users.

Pros Upstox

• Free account opening and no minimum balance requirements
• Instant account opening in less than 10 minutes
• No hidden charges included
• No transaction charges for equity delivery trades
• Lowest brokerage charges in India

Cons of Zerodha

• The AMC Demat account is not free
• It does not offer any stock tips or recommendations
• Zerodha does not include margin funding
• Zerodha’s charges are a bit higher than its competitors
• It does not include monthly unlimited trading plans

Cons of Upstox

• Customer service is not up to the mark
• Does not include BTST orders
• There have been cases of account suspension without any clear reason
• The platform is not very user-friendly and is quite complex for beginners
• It does offer Trading & Demat accounts for NRIs
• It does not offer any stock tips or recommendations

Investment Options

Detailed Comparison of Charges

When it comes to using an online discount broker, it is important to consider the charges charged by these companies as it has a lot of impact on your pocket. Let’s have a look at the different charges levied by Zerodha and Upstox.

Account Opening Charges & AMC

Brokerage Charges

Other Charges

My Verdict

Being an active trader and investor, I have personally used both apps for a lot of time. However, I still feel that Zerodha gives a better user experience than any other brokerage platform in the country.

Its extensive features and top-notch tools help in getting everything in one place.

There is no question in saying that Upstox does bring timely offers and discounts that make it more affordable than Zerodha.

So, new users and casual investors might find Upstox more useful than Zerodha.

Overall, both of these platforms are among the best discount brokers in the country and are backed by some of the most trusted names in the country.