Both Zerodha and Upstox (RKVS) are the most preferred discount brokers in India. Both offer a low flat charge of Rs. 20 for trading. Zerodha offers free stock delivery whereas Upstox charges Rs 20 per trade for delivery trade.
Zerodha is the largest stock broker with more than 1 Crore customers; on the other hand, Upstox recently crossed 1 Crore customers.
Zerodha is always the most trusted and first preference for traders, whereas Upstox has been the fastest-emerging discount broker in the last 2 years.
You can expect better customer support from Zerodha. Whereas, there are amazing deals from time to time like free account opening with zero AMC from Upstox.
You can open an account with any between Upstox and Zerodha based on your requirements. Both brokers provide a far better service than the other discount brokers.
I have reviewed Zerodha vs Upstox (RKSV) so that you can find out which one is better for your trading style.
Upstox Vs Zerodha Comparison
| Particulars | Upstox | Zerodha |
| Can trade-in | Stocks, Equity F&O, Currency F&O and Commodity F&O | Stocks, Equity F&O, Currency F&O and Commodity F&O, Bonds and Govt-Securities |
| Brokerage Charges | Details for Upstox | Details for Zerodha Plan |
| Equity delivery | Rs. 20 per executed order | Rs. 0 |
| Equity, Currency & Commodity Intraday & Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 20 per executed order or 0.03% |
| Equity, Currency & Commodity Options | Rs. 20 per executed order | Rs. 20 per executed order |
| Charges for Call and Trade | Rs. 50 per order | Rs. 50 per order |
| Margin for Intraday | Upto 5X | Upto 5X |
| Account Opening Charges | Free | Rs 0 |
| AMC Fees | Rs 0 | Rs. 300 yearly |
Upstox Charges vs Zerodha Charges Comparison
Upstox Brokerage vs Zerodha Brokerage
Zerodha charges zero brokerage on stock delivery trades whereas Upstox charges Rs 20 on stock delivery.
Upstox (RKSV) and Zerodha both charge the same brokerage charges of a fixed Rs. 20 for Intraday and F&O trades.
Zerodha charges a lower of Rs. 20 per order or 0.03%, whereas Upstox charges a lower of Rs. 20 per order or 0.05%.
If your order value is more than Rs 67,000 then both brokers will charge the same amount i.e. Rs 20.
But for trade volume lower than Rs 67,000 Zerodha will charge less.
Upstox Account Charges Vs Zerodha Account Charges
Upstox & Zerodha both charge Rs 0 for online account opening.
The difference lies in AMC Charges. Annual maintenance charged by Upstox is zero whereas, Zerodha charges Rs. 300 per year as a maintenance fee.
Upstox (RKSV) Demat & Trading Account Review
- Free account opening & Zero AMC
- Fix Rs. 20 per trade
- Fast account opening process
Earlier known as RKSV Securities, Upstox is for volume traders looking for lower brokerages, AMC fees and decent trading platforms.
You get intraday trades while paying a fixed brokerage of Rs. 20 per trade irrespective of the trading volume.
Upstox is backed by Tiger Global, Ratan Tata, and GVK Davix. So, you know that your broking firm is reliable.
Upstox (read full Usptox review) helps you trade in Stocks, Futures & Options, Currency and Commodity trading. You can use Upstox to invest in mutual funds also.
RKSV (Upstox) Brokerage Charges
| Trading Type | Brokerage Charges |
| Equity Delivery | Rs. 20 per executed order |
| Equity Intraday & Futures | Lower of Rs. 20 per executed order or 0.05% |
| Currency Futures | Lower of Rs. 20 per executed order or 0.05% |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.05% |
| Equity, Currency & Commodity Options | Rs. 20 per executed order |
Upstox Margin Provided
Upstox Margin for Intraday
| Segment | Margin Offered |
| NSE/ BSE Cash | 5X |
| Index Futures | 1.33X |
| Stock Futures | 1.33X |
| Index Option Sell | 1.33X |
| Stock Option Sell | 1.33X |
| NSE Currency | 1.33X |
| MCX Futures | 1.33X |
Margins in respect of OC/ OCO Orders are the same as the MIS orders listed above.
Upstox Account Opening Charges
The account opening process of Upstox is entirely online. The paperless account opening process can be completed in a day using Aadhaar.
- Upstox Equity Demat and Trading – Rs 0
- Upstox Demat Yearly Maintenance Charges – Rs. 0
Pros
- No Demat opening charges
- Rs. 0 AMC fee
- Fix & low brokerage irrespective of trade volume
Cons
- You cannot make G-Sec, Bonds and SDL investments.
- Customer support could have been better.
Upstox Account Best For
Upstox is best known for offering free account openings with zero AMC charges.
If you are looking for such offers along with low brokerage charges and high margins, then you must open an account with Upstox.
Zerodha Demat & Trading Account Review
Zerodha started the discount broking model in India by offering a disruptive pricing model of zero brokerage for delivery and fixed Rs. 20 for other trades.
Zerodha is the most trusted and reputed discount broker in India. The biggest reason for their success is their customer support.
You can contact their customer support on call, or email and get an immediate response.
To answer customers’ queries, Zerodha also has a resource portal – “Trading Q&A” containing calculators, news & circulars and application & other useful forms.
New traders can check out – Zerodha Varsity and the Trading QnA portal which covers topics from basic to advanced trading.
Other discount brokers copied Zerodha’s price offers but couldn’t deliver good customer support.
Zerodha helps you to invest & trade in
- Stocks & IPO
- Derivatives – Stocks, Commodity and Currency
- Direct mutual funds
- Bonds and Govt-Securities
Zerodha Brokerage Charges
At Zerodha you need to pay a maximum of Rs. 20 irrespective of the trading volume.
| Trading Type | Brokerage Charges |
| Equity Delivery | Rs. 0 |
| Equity Intraday & Futures | Lower of Rs. 20 per executed order or 0.03% |
| Equity Options | Rs. 20 per executed order |
| Currency, Commodity FNO | Lower of Rs. 20 per executed order or 0.03% |
However, Zerodha charges for value-added services like providing stock reports, screeners, and small cases.
Zerodha Margin Provided
Zerodha offers margin/ leverage on Margin Intraday Square off (MIS), Cover orders (CO) and Bracket orders (BO) products.
The Margin for Intraday (MIS) is as under;
| Segment | Margin |
| Equity Delivery | No Margin |
| Intraday Equity | Up to 5X depending on the scrip |
| Index F&O | 1X |
| Stock F&O | 1X |
| Currency Futures | 1X |
| Commodity Futures | 1X |
In Cover Orders (CO) and Bracket Orders (BO), a stop loss is placed with the initial order. That makes the trade comparatively less risky.
To know the exact margin provided you need to use Zerodha margin calculators before you trade.
For example, if you want to place an Equity futures sell order for Asian Paints then you need to indicate the quantity, price and stop-loss price.
When you click “Add” the calculator will give the margin required on the top right-hand corner as shown below.
Zerodha Account Opening Charges
Following are the charges for opening an account online –
| Particulars | Charges |
| Trading and Demat account opening charges | Rs. 0 |
| Commodity Account | Rs. 0 |
| Annual maintenance charges | Rs. 300 p.a |
Pros
- No brokerage charges for delivery
- Low fixed brokerage charges for trading
- Good customer support
- Provides best trading platforms
- No minimum balance is required to open and maintain an account
Cons
- Some customers face delays and service shutdowns during trading hours.
Zerodha is Best For
Zerodha is best for traders who are looking for good online trading platforms, lower brokerage charges and good customer support.
Zerodha vs Upstox vs 5Paisa Comparison
| Particulars | Zerodha | Upstox | 5Paisa |
| Can trade-in | Stocks, Intraday Equity F&O, Currency F&O,Commodity F&O, Bonds and Govt-Securities | Stocks, Intraday, Equity F&O, Currency F&O, Commodity F&O | Stocks, Intraday Equity F&O, Currency F&O |
| Brokerage Charges | Zerodha | Upstox | 5Paisa |
| Equity Delivery | Free | Rs. 20 per executed order | Rs. 20 per order |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.03% | Lower of Rs. 20 per executed order or 0.05% | Rs. 20 per order |
| Equity, Currency, Commodity Futures | Lower of Rs. 20 per executed order or 0.03% | Lower of Rs. 20 per executed order or 0.05% | Rs. 20 per order |
| Equity, Currency, Commodity Options | Rs. 20 per executed order | Rs. 20 per executed order | Rs. 20 per order |
| Margin for Intraday | 5X | 5X | 5X |
| Account Opening Charges | Zerodha | Upstox | 5paisa |
| Demat & Trading Account | Rs. 0 | Free | FREE |
| Demat AMC Fees | Rs. 300 payable quarterly | Rs. 0 | Rs. 25 per month |
| Best For | Biggest broker with good customer support | Zero account opening, Nil AMC & low brokerage offer | Fast account opening and best trading app |
Why You Might Prefer Zerodha
Zerodha is for a cost-conscious trader beginning his journey into the world of stock investing and trading.
The flat Rs. 20 per trade brokerages, a simple yet powerful trading platform and the best customer support are what Zerodha is known for.
Why You Might Prefer Upstox
Upstox brokerage plans (similar to Zerodha) and margin structure support both new and intermediate traders and investors.
The biggest benefit is that Upstox provides one of the fastest trading platforms which is an essential requirement for intraday trading.
You save with free account opening and zero annual maintenance charges.
FAQs
For online Demat and Trading account opening you will need to upload a scanned copy of the following documents;
– PAN card
– Aadhaar Card
– Canceled cheque
– A photo or scanned copy of your signature proof
– Income proof (anyone) if you want to trade in F&O like –
– Form-16
– IT acknowledgment
– 6-month bank statement
– Latest salary slip
– CA-certified net worth statement
If you look at the brokerages then Upstox charges Rs. 20 whereas Zerodha charges Rs. 0 for equity delivery trades. For the rest of the segment, the charges are the same.
Upstox is better than Zerodha only in terms of account opening fees and annual maintenance charges. You can get started with a free account and Rs. 0 AMC charges.
– Upstox charges Rs. 20 on Equity delivery trade
– Can’t invest in Govt bonds and NCDs
– Their customer care is not as good as Zerodha
– Complains about hanging Upstox app
Yes, you can open as many demat & trading accounts as you want, but with different stockbrokers. Opening multiple accounts with the same broker is not allowed.
Both Zerodha and Upstox demat accounts are good for beginners. Zerodha is the first choice because it offers Rs. 0 equity delivery trade, a simple-to-understand platform and better customer support.
Go for Upstox if you are looking for an alternative to Zerodha.
You can add money using UPI, NEFT, IMPS, and RTGS through your Net Banking facility.
For that, you need to add your broker as Beneficiary (Payee) and then you can transfer the funds.
Yes, Zerodha offers a fast trading platform- Kite equipped with an easy order placement form and advanced charting tools for stock analysis.
Zerodha Account opening process is much complicated. I’m always getting message “PAN Already Exists” and unable to create accont. Customer support is very worst.
That means you have started account opening process with zerodha but have not completed yet. Drop an email to zerodha support, they will definitely help.
Upstox account opening process & customer care support is really pathetic.
I am trying to open an account on Upstox but still nothing. They don’t register your PAN with KRA which is must for opening a demat account. All other brokers take care of this thing but not upstox.