zerodha

Upstox vs Zerodha Comparison 2022: Find the Best Discount Broker in India

Both Zerodha and Upstox (RKVS) are the most preferred discount brokers in India with zero delivery charges and a low flat charge of Rs. 20 for trading.

You can trade large volumes while paying a nominal fee of Rs 20 per trade.

From the upfront, Upstox and Zerodha are the same in terms of charges and benefits. One side Zerodha is the largest discount broker with more than 12 lakh customer, other side, Upstox recently crossed the 10 lakh customer mark.

However, there are some differences. Zerodha is always the most trusted and first preference for the traders, whereas Upstox is the fastest emerging discount broker in the last 2 years.

You can expect better customer support from the Zerodha and can get amazing deals like free brokerage credit from Upstox.

You can open an account with any between Upstox and Zerodha based on your requirements. Both the 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. Before going to the detailed review, let’s compare both the discount brokers on the basis of the most important parameters.

Upstox Vs Zerodha Comparison

ParticularsUpstoxZerodha
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 ChargesDetails for Upstox Basic PlanDetails for Zerodha Plan
Equity deliveryRs. 0Rs. 0
Equity Intraday, Futures, Options,Lower of Rs. 20 per executed order or 0.05%Lower of Rs. 20 per executed order or 0.03%
Currency & Commodity FNOLower of Rs. 20 per executed order or 0.05%Lower of Rs. 20 per executed order or 0.03%
Charges for Call and TradeRs. 20 per orderRs. 50 per order
Margin for IntradayUpto 15XUpto 15X
Account Opening ChargesRs 299Rs 200
AMC FeesRs. 25 per monthRs. 300 yearly
Apply NowOpen Upstox accountOpen Zerodha Account

Upstox Charges vs Zerodha Charges Comparison

Upstox Brokerage vs Zerodha Brokerage

Upstox (RKSV) and Zerodha both charge the same brokerage charges of fix Rs 20 per trade.

Zerodha charge lower of Rs. 20 per order or 0.03%, whereas Upstox charge lower of Rs. 20 per order or 0.05%.

If your order value is more than Rs 67000 then both the broker will charge the same amount i.e Rs 20. But for trade volume lower than Rs 67000 Zerodha will charge less.

Upstox Account Charges Vs Zerodha Account Charges

Upstox charge Rs 299 for account opening. In return you will get free brokerage credit worth Rs 1000 valid for 7 days.

Whereas Zerodha charges a fee of Rs 200 for the account opening.

The annual maintenance charges for Upstox account is Rs 25 per month.

Zerodha charges Rs 300 yearly as a maintenance fee.

Upstox (RKSV) Demat & Trading Account Review

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Fastest growing stockbroker
Upstox
  • 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 high margins (up to 28X), low brokerages, and decent trading platforms.

You get more leverage up to 28X margin on 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 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

Upstox offers two trading plans; Basic Plan and the Priority Plan. Both the plans are available to all the customers. 

Trading TypeBrokerage Charges for
Basic Plan
Brokerage Charges for Priority Plan
Equity DeliveryRs. 0Rs. 0
Equity Intraday, FNOLower of Rs. 20 per executed order or 0.05%Lower of Rs. 30 per executed order or 0.10%
Currency Futures Lower of Rs. 20 per executed order or 0.05%Lower of Rs. 30 per executed order or 0.10%
Commodity FuturesLower of Rs. 20 per executed order or 0.05%Lower of Rs. 30 per executed order or 0.10%
Currency OptionsRs. 20 per executed order Rs. 30 per executed order
Commodity OptionsRs. 20 per executed order Rs. 30 per executed order

Upstox Margin Provided

Priority trading pack is for intraday traders looking for more leverage. Upstox charges Rs. 999 per month for Equities, F&O, and CDS and Rs. 400 per month for commodities. 

Upstox Margin for Intraday

SegmentBasic Priority Pack
NSE/ BSE Cash15X20X
Index Futures3X6X
Stock Futures3X3X
Index Option Sell3X6X
Stock Option Sell 3X3X
NSE Currency4X4X
MCX Futures2.5X3X

Margin in respect of OC/ OCO Orders

SegmentBasic Priority Pack
NSE/ BSE Cash20X27X
Index Futures20X28X
Stock Futures5X6X
Index Option Sell3X4X
Stock Option Sell 3X3X
NSE Currency4X5X
MCX Futures3X4X
NSE Option Buy1.33X2X

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 299
  • Upstox Demat Monthly Maintenance Charges – Rs. 25

Pros 

  • No brokerage charges for delivery
  • Great trading platforms
  • Fix & low brokerage irrespective of trade volume
  • No Demat opening charges
  • Provides great offers time to time

Cons

  • You cannot make direct IPO and FPO investments.
  • Customer support could have been better.

Upstox Account Best For

Upstox is best known for adding value-adding offers like Free brokerage credit of Rs 1000.

If you are looking for such offers long with low brokerage charges and high margins, then you must open an account with Upstox.

Zerodha Demat & Trading Account Review

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Best discount broker in India
Zerodha

 

  • Fix Rs. 20 per trade on intraday trades
  • Zero brokerage on the stock delivery
  • Good customer support
  • Best charts and tools for technical analysis

Zerodha, started the discount broking model in India by offering a disruptive pricing model of zero brokerage for delivery and fix 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 a positive response.

To answer all your queries, Zerodha also has a resource portal containing calculators, news & circulars and application & other useful forms.

Zerodha Q & A

New traders can check out – Zerodha Varsity and the Trading QnA portal that covers topics from basic to advanced trading.

Other discount brokers copied Zerodha price offers but couldn’t deliver good customer support.

Zerodha helps you to trade-in

  • Stocks & IPO 
  • Derivatives – Stocks, Commodity and Currency
  • Direct mutual funds
  • Bonds and Govt-Securities

Brokerage Charges

Unlike Upstox, Zerodha does not have different plans for traders. You need to pay a maximum of Rs. 20 irrespective of the trading volume. 

Trading TypeBrokerage Charges
Equity DeliveryRs. 0
Equity Intraday & FuturesLower of Rs. 20 per executed order or 0.03%
Equity OptionsRs. 20 per executed order 
Currency, Commodity FNOLower 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 charges

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;

SegmentMargin
Equity DeliveryNo Margin
Intraday EquityUp to 15X depending on the scrip
Index F&O4.16X
Stock F&O3.33X
Currency Futures 2X 
Commodity Futures 2X

In Cover Orders (CO) and Bracket Orders (BO) a stop loss is placed with the initial order. That makes the trade comparatively less risky. Hence, Zerodha provides higher leverage on CO and BO. 

However, Zerodha does not disclose the margin provided. You need to make use of BO&CO margin calculators before you trade.

For example, if you want to place a CO order (sell) for the scrip Asian Paints. Then you need to indicate the quantity, price and stop-loss price. 

When you click “Calculate” the BO&CO calculator will give the margin required and the leverage details on the top right-hand corner as indicated below;  

zerodha

Zerodha Account Opening Charges 

Following are the charges for opening an account online;  

ParticularsCharges
Trading and Demat account opening chargesRs. 200
Commodity AccountRs. 100
Annual maintenance chargesRs. 300

Pros 

  • No brokerage charges for delivery.
  • Low fixed brokerage charges for trading
  • No minimum balance required to open and maintain the account.
  • Good customer support.
  • Provides best trading platforms

Cons

  • Some customers face delays and service down during trading hours.

Best For

Zerodha is best for traders who is looking for good trading platforms, lower brokerage charges and good customer support.

Zerodha vs Upstox vs 5paisa Comparison

ParticularsZerodhaUpstox5paisa
Can trade-in Stocks,
Equity F&O, Currency F&O,Commodity F&O, Bonds and
Govt-Securities
Stocks, 
Equity F&O, 
Currency F&O, 
Commodity F&O 
Stocks, 
Equity F&O, 
Currency F&O 
Brokerage ChargesDetails for Zerodha PlanDetails for Upstox Basic Plan5paisa Platinum/titanium Plan
Equity DeliveryFreeFreeFree
Equity Intraday, FNO,Lower of Rs. 20 per executed order or 0.03%Lower of Rs. 20 per executed order or 0.05%Rs. 10 per executed order
Commodity FuturesLower of Rs. 20 per executed order or 0.03%Lower of Rs. 20 per executed order or 0.05%N.A.
Commodity OptionsLower of Rs. 20 per executed order or 0.03%Rs. 20 per executed order N.A.
Margin for IntradayUp to 12.5XUp to 28XUp to 5X
Account Opening ChargesZerodhaUpstox 5paisa
Demat & Trading AccountRs.200FreeFREE
Demat AMC FeesRs. 300Rs 25 per month Rs. 45 per traded month Rs. 540 yearly*
Best For Biggest broker with good customer supportHigh Margin, 30 days free brokerage offer Cheapest brokerage charges
Open AccountOpen Zerodha A/cOpen Upstox A/cOpen 5paisa A/c

F&Q

Q: What documents are needed to open an account online?

A: For online Demat and Trading account opening you will need to upload scanned copy of the following documents;

  • PAN card
  • Aadhaar Card
  • Canceled cheque
  • A photo or scanned copy of your signature proof 
  • Income proof if you want to trade in F&O 
  • Form-16
  • IT acknowledgment
  • 6-month bank statement
  • Latest salary slip
  • CA certified net worth statement

Q: What is the power of attorney (PoA) and why is it needed?

A: PoA is a document that gives your broker the right to debit shares from your Demat account on your behalf.

PoA is required whenever you want to sell your shares. Without PoA, your broker will not be able to sell your shares. 

Q: How can I add money to my trading account?

A: You can add money using 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.

Q: What are limit and market orders?

A: A limit order is an order to buy or sell a stock, F&O at a specified price. The trade gets executed only when the specified price is hit. 

A market order is an order to buy or sell at the prevailing market prices. The trade gets executed instantly after the orders are placed. 

Q: What is stop loss?

A: A stop-loss order is a buy/ sell order placed to limit losses in case of adverse price movements.

For example, if you have bought a share at Rs 150 and you want to limit your loss at 145, then you can place a stop-loss order at Rs. 145. The system will automatically sell you share in case the price falls to Rs. 145. You stop from making further losses in case of a down market. 

Conclusion (Zerodha vs Upstox Which is Better)

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 and decent margins of 12.5x is neither too high or low and saves you from the risk of making large losses.

Why You Might Prefer Upstox (RKSV)

Upstox brokerage plans (similar to Zerodha) and margin structure supports 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 will get a credit of Rs 1000 worth of brokerage.

About Pardeep Goyal

I love to talk about money saving hacks (Credit Cards, Travel, Shopping, Taxes). I share transparently how I am making passive income and where I spend my money.

3 thoughts on “Upstox vs Zerodha Comparison 2022: Find the Best Discount Broker in India”

  1. 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.

    Reply
  2. 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.

    Reply

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