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Zerodha vs Upstox

The similarities and differences between Zerodha and Upstox brokerage, customer service, maintenance fees, tools and investment options provided to India Stock Market investors.

Zerodha started in 2010 which is ranked number one in discount broker category  where as upstox started in 2012 and it is little behind zerodha in both turnover and client number. Here are some categories in which we compare zerodha and upstox to know its pro’s and cons.

  1. Account opening fee and AMC
  2. Brokerage
  3. Intraday margin
  4. Trading platform
  5. Mobile application

1. Account opening fee and AMC:

In Zerodha the account opening charges will be Rs. 300 for equity and Rs. 200 for commodity. If you are willing to trade on both equity and commodity then it will charge Rs. 500. The annual maintenance charge will be Rs 300. Where as in Upstox the account opening charges will be Rs. 354 for equity and Rs. 177 for commodity and if you are willing to trade on both equity and commodity then it will charge Rs. 531. The annual maintenance charges will be Rs. 300.

Demat Services & Charges                  Zerodha                   Upstox
Depository SourceCDSLCDSL
Account Opening ChargesRs.300 for equities and Rs. 500for equities and commoditiesRs.354 for equities and Rs.531for equities and commodities
Demat AMC ChargesRs.300 per yearRs.300 per year
Trading AMC ChargesFreeFree
Margin MoneyZeroZero
Offline to OnlineNoNo

2. Brokerage:

The brokerage charges for both Zerodha and Upstox are same in Equity Intraday,  F&O, commodity & currency which is 0.01% or Rs. 20 per trade, whichever is lower. The equity delivery is free.

     Brokerage Charges               Zerodha               Upstox
Equity Delivery TradingZeroZero
Equity Intraday TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Commodity Options TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Equity Futures TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Equity Options TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Currency Futures TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Currency Options TradingRs.20 or 0.01% per tradeWhichever is lowerRs.20 or 0.01% per tradeWhichever is lower
Minimum BrokerageZeroZero

3. Intraday margin :

The margin for NSE/BSE cash in Zerodha is upto 14 times and in upstox it is upto 15 times. The margin for Index futures, stock futures, index options sell, stocks options sell, and NSE currency in Zerodha is upto 2 times and in Upstox it is upto 4 times. The margin for MCX futures in Zerodha is upto 2 times and in upstox it is upto 2.5 times. So, Upstox is getting more margin compared to zerodha.

    Intraday Margin     Zerodha         Upstox
NSE/BSE cashupto 14 timesupto 15 times
Index Futuresupto 2 timesupto 4 times
Stock Futuresupto 2 timesupto 4 times
Index Options Sellupto 2 timesupto 4 times
Stock Options Sellupto 2 timesupto 4 times
NSE Currencyupto 2 timesupto 4 times
MCX futuresupto 2 timesupto 2.5 times

4. Trading platform :

The trading platform for Zerodha is Kite zerodha and for Upstox it is upstox Pro. In Kite zerodha all the options like orders, holdings, funds and positions should be selected manually to view them, where as in Upstox pro all the options are available in dashboard itself so it will be easy to view them. The options can also be floated from one place to another but in Zerodha Kite Web everything is in a fixed position. Upstox Pro Web  has a new feature which is option strategy which makes upstox more simpler and user friendly compared to Zerodha.

                      Zerodha Kite Web                             Upstox Pro Web
1. Works at a bandwidth consumption of fewer than 0.5 Kbpsfor a full market watch Provides.2. Extensive charting with over 100 indicators and 6 chart types.3. Advanced order types like Brackets and cover.4. Millisecond order placements.1. A light application can be accessed through any browser or device.2. High functional charts with over 100 indicators and charts that allowusers to observe the market and stock trends.3. Ordering window is displayed on the screens so that users can place orders instantaneously.4. Features such as Workspaces can be customized as per user preferences.5. Keyboard shortcuts provided to enter orders quickly.

5. Mobile application :

The mobile application for Zerodha is Kite and for upstox it is upstox pro. Both the applications are available in google play store app ios app store, you can download from it. Using application you can easily trade as all the options are present is it and even can watch live charts. Both the applications are user friendly and easy to use.

Zerodha KiteUpstox Pro mobile app
1. One-tap universal instrument search for all contracts across all exchanges — NSE, BSE, MCX.2. Live streaming data.3. Multiple market watch and live market depths.4. Advanced chart with 100+ indicators Years worth of free historical chart data.5. Trade Equities, F&O, Commodities, Currency.1. Live-streaming of Prices from NSE F&O, NSE Cash, BSE Cash, NSE Currencyand BSE Currency.2. Line charts, candlesticks with chartings indicators and drawing tools for usersto comprehend data easily and take actions quickly.3. Advanced order types such as Cover Orders & Bracket Orders.4. Easy money transfer with more than 40 banks available within the app.

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