Zerodha vs Upstox For Beginners in 2024: Which is Better?

zerodha_vs_upstox
zerodha_vs_upstox

Zerodha vs Upstox For Beginners: Are you a budding investor eager to navigate the world of stocks and shares? If so, you’re probably overwhelmed by the sheer number of trading platforms available. Two of the most popular options for beginners are Zerodha and Upstox. But how do you know which one is right for you?

In this comprehensive blog post, we’ll delve into the key features and benefits of Zerodha and Upstox, helping you make an informed decision based on your investment goals and preferences. We’ll cover everything from account opening fees and brokerage charges to trading platforms and customer support. By the end, you’ll be well-equipped to choose the platform that will empower your financial journey.

So, whether you’re a passive investor seeking long-term growth or a day trader chasing short-term profits, this guide will help you find the perfect trading partner. Get ready to unlock the potential of the stock market with Zerodha or Upstox!

Zerodha vs Upstox: About

Zerodha

Zerodha reigns as India’s top stockbroker, renowned for its extensive online flat fee discount brokerage services. Investors can delve into a diverse range of investment opportunities, including equity, currency, commodity, IPO, futures & options, bonds, government securities, and direct mutual funds.

Zerodha eliminates brokerage fees for equity delivery trades and direct mutual fund transactions. For intraday and futures trades, a flat fee of Rs 20 or 0.03%, whichever is lower, applies per trade. Additionally, options trades incur a flat fee of Rs 20 per executed order…….read more

Upstox

Upstox is a cutting-edge discount brokerage firm in India that offers trading opportunities at incredibly competitive rates. The company provides trading across various segments, including equities, commodities, currency, futures, and options, accessible through its Upstox Pro Web and Upstox Pro Mobile trading platforms.

Backed by a group of prominent investors like Kalaari Capital, Ratan Tata, and GVK Davix, Upstox’s trading platform boasts a comprehensive suite of trading, analysis, charting, and other advanced trading features. This platform caters to a wide range of investors, from beginners to experienced traders….read more

Zerodha vs Upstox: Overview

DetailsUpstoxZerodha
Type of brokerDiscountDiscount
Exchange membershipBSE, NSE,MCXNSE, BSE, MCX, NCDEX
Founded in20122010
Founded byMaheswaran Mohan Rao, Shrinivas Viswanathan, Raghu Ram KG, Ravi Kumar ChariNithin Kamath and Nikhil Kamath
CEORavi KumarNithin Kamath
HeadquarterMumbai, IndiaBengaluru, India, at 153/154, 4th Cross, J.P Nagar 4th Phase, Opp. Clarence Public School, Bengaluru – 560078.
UsersOver 5 million+ users in India15 million+ (9.5 Active users)
Download on Playstore10M+10M+
Rating on Playstore⭐ 4.4 Out of ⭐ 5.0 (Based on 250K Votes) ⭐ 4.0 Out of ⭐ 5.0 (Based on 326K Votes)
Number of branches50+ branches across India75+ Branches
Websiteupstox.comzerodha.com

Zerodha vs Upstox: Features

FeatureZerodhaUpstox
Trading PlatformsKite Web, Kite Mobile for Android/iOS, and CoinUpstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS and Android Algola trading software
3-in-1 AccountNoNo
ChartingAdvanced charting with over 100 indicatorsAdvanced charting with over 100 indicators
Automated TradingYes, through APIYes, through API
SMS AlertsNoNo
Online DemoYesYes
Online PortfolioNoNo
Margin TradingNoYes
FundingInstant bank transfer, UPI, NEFT, RTGSInstant bank transfer, UPI, NEFT, RTGS
Margin Against Shares (Equity Cash)Up to 50%No
Margin Against Shares (Equity F&O)Up to 95%Up to 95%
Intraday Square-off TimeEq Cash: 3:15 PMEq F&O: 3:25 PM
Trading In SME Shares Allowed?YesYes
Referral ProgramYesYes
Other FeaturesDirect Mutual Funds, APIs for Algo Trading, Option strategy builderDirect Mutual Funds, APIs for Algo Trading, Option strategy builder

Zerodha vs Upstox: Charges

Account Opening and AMC Charges: Zerodha vs Upstox

ChargeZerodhaUpstox
Trading Account Opening Charges₹200₹0 (Free)
Trading Account AMC Charges₹0 (Free)₹0 (Free)
Demat Account Opening Charges₹0₹0 (Free)
Demat Account AMC Charges₹300₹150

Brokerage Charges: Zerodha vs Upstox

SegmentZerodha BrokerageUpstox Brokerage
Equity DeliveryFreeRs 20 per executed order or 2.5% whichever is lower
Equity IntradayRs 20 per executed order or 0.03% whichever is lowerRs 20 per executed order or 0.05% whichever is lower
Equity FuturesRs 20 per executed order or 0.03% whichever is lowerRs 20 per executed order or 0.05% whichever is lower
Equity OptionsRs 20 per executed orderRs 20 per executed order
Currency FuturesRs 20 per executed order or 0.03% whichever is lowerRs 20 per executed order or 0.05% whichever is lower
Currency OptionsRs 20 per executed orderRs 20 per executed order
Commodity FuturesRs 20 per executed order or 0.03% whichever is lowerRs 20 per executed order or 0.05% whichever is lower
Commodity OptionsRs 20 per executed orderRs 20 per executed order

Other Brokerage charges:Zerodha vs Upstox

ChargeZerodhaUpstox
Minimum Brokerage0.03% for Intraday and F&O0.05%
Other ChargesPhysical contact notes: Rs 20, Trade SMS Alerts: Rs 1 per SMS, Auto Square-off Charges: Rs 50Call & Trade Charges: Rs 50 per executed order

Transaction Charges: Zerodha vs Upstox

SegmentZerodha Transaction ChargesUpstox Transaction Charges
Equity DeliveryNSE: ₹325 per Cr (0.00325%)NSE: ₹325 per Cr (0.00325%)
Equity IntradayNSE: ₹325 per Cr (0.00325%)NSE: ₹325 per Cr (0.00325%)
Equity FuturesNSE: ₹190 per Cr (0.0019%)NSE: ₹190 per Cr (0.0019%)
Equity OptionsNSE: ₹6250 per Cr (0.0625%) (on premium)NSE: ₹5000 per Cr (0.050%) (on premium)
Currency FuturesNSE: ₹90 per Cr (0.0009%)NSE: ₹90 per Cr (0.0009%)
Currency OptionsNSE: ₹3500 per Cr (0.035%)NSE: ₹3500 per Cr (0.035%)
CommodityGroup A – ₹260 per Cr (0.0026%)Group A – ₹290 per Cr (0.0029%)

Zerodha vs Upstox: Margin

SegmentZerodha LeverageUpstox Leverage
Equity Delivery100% of trade value (1x leverage)100% of trade value (1x leverage)
Equity IntradayUp to 20% of trade value (5x leverage)Up to 20% of trade value (5x leverage)
F&O (Eq, Curr, Comm)100% of NRML margin (Span + Exposure) (1x leverage)100% of NRML margin (Span + Exposure) (1x leverage)

Zerodha vs Upstox: Investment Options

Investment OptionZerodhaUpstox
Stock/EquityYesYes
CommodityYesYes
CurrencyYesYes
IPOYesYes
Mutual FundsYesYes
Bond/NCDYesYes
DebtYesYes
Other Investment OptionsDirect Mutual FundsDirect Mutual Funds

Zerodha vs Upstox For Beginners: Trading Plateforms

Key features of Zerodha’s and Upstox’s trading platforms:

FeatureZerodha KiteZerodha PiUpstox Pro
Platform typeWeb-based, mobileDesktopWeb-based, mobile
Brokerage-free equity delivery tradesYesNoNo
Flat fee brokerage for other segmentsYesYesYes
Advanced charting toolsYesYesYes
BacktestingYesNoNo
Margin funding for intraday tradesYesNoNo
Margin funding for delivery tradesNoNoYes
User-friendlinessEasy to useMore complexEasy to use

How to Choose the Right Trading Platform?

The best trading platform for you will depend on your individual needs and preferences. If you are a beginner trader, then Zerodha Kite or Upstox Pro may be a good option for you. If you are a more experienced trader, then you may want to consider Zerodha Pi for its more powerful tools.

Some questions to consider when choosing a trading platform:

  • What type of trading do you do? (Equity delivery, intraday, futures, options)
  • What level of experience do you have?
  • What features are important to you?
  • Do you need margin funding?
  • Do you prefer a web-based or desktop-based platform?

Once you have considered these questions, you can start to narrow down your options and choose the trading platform that is right for you.

Zerodha vs Upstox: Customer Support

Both Zerodha and Upstox provide customer support through various channels, including phone, chat, and email.

However, there are some key differences in their customer support offerings.

Zerodha’s Customer Support:

Zerodha offers customer support through the following channels:

  • Phone: Zerodha’s customer support number is available 24 hours a day, 7 days a week.
  • Chat: Zerodha offers live chat support during market hours.
  • Email: Zerodha has a dedicated email address for customer support inquiries.

Upstox’s Customer Support:

Upstox offers customer support through the following channels:

  • Phone: Upstox’s customer support number is available from 9:00 AM to 5:00 PM IST, Monday through Friday.
  • Chat: Upstox offers live chat support during market hours.
  • Email: Upstox has a dedicated email address for customer support inquiries.

Customer Support Response Times:

In my experience, Zerodha’s customer support response times are generally faster than Upstox’s. I have typically been able to get a response to my inquiries from Zerodha within a few minutes, while Upstox’s response times can be up to a few hours.

Customer Support Satisfaction:

Overall, customer satisfaction with Zerodha’s customer support is generally higher than with Upstox’s. This is likely due to Zerodha’s longer support hours, faster response times, and wider range of support channels.

Key differences between Zerodha’s and Upstox’s customer support:

FeatureZerodhaUpstox
Support channelsPhone, chat, emailPhone, chat, email
Support hours24/79:00 AM to 5:00 PM IST, Monday through Friday
Response timesGenerally fasterGenerally slower
Customer satisfactionGenerally higherGenerally lower

Zerodha vs Upstox: Regulatory

Both Zerodha and Upstox are registered with the Securities and Exchange Board of India (SEBI) and adhere to all applicable regulations. They are also members of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). This means that your money is safe with both brokers.

Regulatory status: Zerodha vs Upstox:

FeatureZerodhaUpstox
SEBI registrationYesYes
NSE membershipYesYes
BSE membershipYesYes

Additional Regulatory Compliance:

In addition to being registered with SEBI and being members of the NSE and BSE, Zerodha and Upstox also comply with other regulatory requirements, such as:

  • Maintaining adequate capital reserves
  • Segregating client funds from their own funds
  • Implementing risk management systems
  • Conducting regular audits

Investor Protection: Zerodha vs Upstox

Both Zerodha and Upstox are committed to protecting their investors. They offer a variety of investor protection measures, such as:

  • Default protection: In the event that a broker defaults, investors are compensated by the Investor Protection Fund.
  • Insurance coverage: Brokers are required to have insurance coverage to protect against losses due to theft or fraud.
  • Dispute resolution mechanism: Investors can file complaints with SEBI if they have any disputes with their brokers.

Conclusion: Zerodha vs Upstox

Both Zerodha and Upstox are reputable brokers that are regulated by SEBI and adhere to all applicable regulations. They also offer a variety of investor protection measures to protect their clients.

Ultimately, the best broker for you will depend on your individual needs and preferences.

Zerodha vs Upstox: Pros and Cons

✅ Zerodha Pros

  • India’s No. 1 broker in terms of the number of active clients and exchange volume
  • Safe, reliable, and most technologically advanced broker in India
  • Simple flat fee brokerage services across segments and exchanges (BSE, NSE, MCX)
  • Free equity delivery trades
  • Flat Rs 20 per trade brokerage for all other segments
  • Excellent trading platforms (Kite) available for free
  • Direct Mutual Fund Investment is available
  • Good Till Triggered (GTT) orders are available
  • NRI Trading account is available
  • Zero account opening fee
  • Zero brokerage for Mutual Fund investment

✅ Upstox Pros

  • Zero account opening fee
  • Flat Rs 20 per trade brokerage for all other segments including equity delivery
  • Offer direct mutual funds
  • One app for trading in equity, currency, and commodity
  • Margin Trading Facility (MTF) is available at interest rate of Rs 20/day for slabs of Rs 40,000
  • Margin Against Share is available
  • Online IPO, FPO, Bonds, and NCD’s are available
  • Good-Till-Triggered (GTT) orders are available

❌ Zerodha Cons

  • It does not provide stock tips, research, and recommendations
  • Call & Trade is charged an extra Rs 50 per order
  • Auto Square off is charged at an extra Rs 50 per order
  • It does not offer a 3-in-1 account
  • It does not offer monthly unlimited trading plans
  • It does not offer an AMC Free Demat account
  • No margin funding

❌ Upstox Cons

  • Equity delivery brokerage fee is Rs 20 per trade
  • Other brokers like Zerodha offers brokerage-free equity delivery trades
  • Doesn’t offer unlimited trading plans
  • Doesn’t offer margin funding for delivery trades
  • Doesn’t offer stock tips or recommendations
  • Doesn’t offer a 3-in-1 account
  • Doesn’t offer 24/7 customer support
  • Doesn’t offer API access for automated trading
  • Doesn’t offer NRI Trading and Demat account
  • Doesn’t offer BTST
  • Doesn’t offer digital gold
  • Call-and-trade fee is Rs 20 per executed order extra
  • Automatic settlement charges an additional Rs 50 per executed order
  • Higher Demat Debit Transaction charges (Rs 18.5 per ISIN). Zerodha charges Rs 13.5.
  • Intraday square-off at 3 PM. Most other brokers do it at 3:15 PM.

FAQs about Zerodha vs Upstox

Q. Can I use both Upstox and Zerodha?

Yes, you can use both Zerodha and Upstox. There is no rule that says you can only have one trading account. In fact, some investors use multiple brokers to take advantage of different features and benefits.

Q. Why do people prefer Zerodha?

People prefer Zerodha for its:
1. Free equity delivery trades: No brokerage fees for buying and selling stocks.
2. Advanced charting tools: Analyze technical indicators for better trading decisions.
3. Backtesting feature: Test trading strategies before investing real money.

Q. Which platform is better Upstox or Zerodha?

Zerodha and Upstox are both low-cost brokers with similar offerings. Zerodha offers free equity delivery trades, advanced charting tools, and backtesting. Upstox has a zero account opening fee, margin funding, and good customer support. Upstox’s intraday square-off time is earlier than most brokers.

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