Zerodha, Upstox and 5paisa, all three are among the top discount brokers in India. All three stockbrokers charge a flat brokerage on intraday and have quiet similar types of products and lean service offerings.
However, with Zerodha, you can trade additionally in bonds and government securities. Whereas, 5paisa does not even offer a commodity trading account.
I have compared Zerodha vs Upstox vs 5paisa side-by-side, so you get better clarity and can make your decision.
Zerodha vs Upstox vs 5paisa
| Particulars | Zerodha | Upstox | 5paisa |
| 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 Charges | Details for Zerodha Plan | Details for Upstox Basic Plan | 5paisa Platinum/titanium Plan |
| Equity Delivery | Free | Free | Free |
| 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 Futures | Lower of Rs. 20 per executed order or 0.03% | Lower of Rs. 20 per executed order or 0.05% | N.A. |
| Commodity Options | Lower of Rs. 20 per executed order or 0.03% | Rs. 20 per executed order | N.A. |
| Margin for Intraday | Up to 12.5X | Up to 28X | Up to 5X |
| Account Opening Charges | Zerodha | Upstox | 5paisa |
| Demat & Trading Account | Rs.200 | FREE | FREE |
| Demat AMC Fees | Rs. 300 | Rs 25 per month | Rs. 45 per traded month Rs. 540 yearly* |
| Best For | Biggest broker with good customer support | High Margin, 30 days free brokerage offer | Cheapest brokerage charges |
| Open Account | Open Zerodha A/c | Open Upstox A/c | Open 5paisa A/c |
Continue reading to get an in-depth knowledge of the annual fees, brokerages, margins, and trading facilities offered by all the three discount stock brokers.
Zerodha vs Upstox vs 5paisa Annual Fee Comparison
5paisa and Upstox both offered FREE both Demat & trading accounts opening.
Zerodha charges Rs 200 for trading & Demat account opening charges. You would need to pay an extra Rs 100 for opening a commodity account.
Zerodha Annual Fees
| Particulars | Charges |
| Trading and demat account opening charges | Rs. 200 |
| Commodity account | Rs. 100 |
| Annual maintenance charges | Rs. 300 |
Upstox Annual Fees
- Account opening charges – FREE
- Upstox account maintenance charges – Rs. 25 per month
5paisa Annual Fees
5paisa demat and trading account opening is FREE
However, there are plan charges as under
- Optimum Plan – Rs 45 per traded month
- Platinum Plan – Rs. 499 per month
- Titanium Plan – Rs. 999 per month
5paisa and Upstox offer free account, whereas Zerodha charge charge a nominal fee of Rs 200 for account opening.
Annual maintenance charges charges for all the 3 brokers are in the same range.
Zerodha vs Upstox vs 5paisa Brokerage Charges Comparison
All three discount brokers offer a flat Rs. 20 brokerage charges on their basic plans.
The only difference is in the delivery trades where 5paisa charges up to Rs. 20 for delivery trades whereas Zerodha and Upstox provide it for free. Apart from that, there is no major difference.
In the brokerage comparison, Upstox and Zerodha have an upper hand.
Zerodha Brokerage Charges
| 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% |
Upstox Brokerage Charges
At Upstox there are two trading plans, namely the Basic Plan and the Priority Plan.
| Trading Type | Brokerage Charges for Basic Plan | Brokerage Charges for Priority Plan |
| Equity Delivery | Rs. 0 | Rs. 0 |
| Intraday & Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Equity, currency & commodity options | Rs. 20 per executed order | Rs. 30 per executed order |
5paisa Brokerage Charges
5 paisa brokerage charges under different plans are as under
| Transaction | Optimum Plan | Platinum Plan | Titanium Plan |
| Stock Delivery | Rs. 20 per order | Rs. 10 per order | Free |
| Intraday & Futures | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
| Stock Options | Rs. 20 per order | Rs. 2 per lot | Rs. 2 per lot |
| Currency F&O | Rs. 20 per order | Rs. 10 per order | Rs. 10 per order |
Zerodha vs Upstox vs 5paisa Margins Comparison
The higher margins help you trade large volumes. When you look at margins, you will find that 5paisa offers the lowest margins of up to 5X only for equity intraday trades.
Whereas, Zerodha (12.5X) and Upstox (15X) margins for equity intraday trades are significantly higher.
Zerodha Margins Details
| Segment | Margin |
| Zerodha Margin Equity Delivery | No Margin |
| Zerodha Margin Intraday Equity | Up to 15X |
| Zerodha Margin Index F&O | 4.16X |
| Zerodha Margin Stock F&O | 3.33X |
| Zerodha Margin Currency Futures | 2X |
| Zerodha Margin Currency Options | No margin |
| Zerodha Margin Commodity Futures | 2X |
Upstox Margin Details
Upstox offers higher margins under the priority plans but charges Rs. 999 per month for Equities, F&O, and CDS and Rs. 499 per month for commodities under the plan.
Margin for Intraday
| Segment | Basic | Priority Pack |
| NSE/ BSE Cash | 15X | 20X |
| Index Futures | 3X | 6X |
| Stock Futures | 3X | 3X |
| Index Option Sell | 3X | 6X |
| Stock Option Sell | 3X | 3X |
| NSE Currency | 4X | 4X |
| MCX Futures | 2.5X | 3X |
Margin in respect of Cover Orders.
| Segment | Basic | Priority Pack |
| NSE/ BSE Cash | 20X | 27X |
| Index Futures | 20X | 28X |
| Stock Futures | 5X | 6X |
| Index Option Sell | 3X | 4X |
| Stock Option Sell | 3X | 3X |
| NSE Currency | 4X | 5X |
| MCX Futures | 3X | 4X |
| NSE Option Buy | 1.33X | 2X |
5paisa Margin Details
| Segment | 5paisa Optimum Plan | 5paisa Platinum Plan | 5paisaTitanium Plan |
| Equity Delivery Trading | Up to 4 times | Up to 4 times | Up to 4 times |
| Equity Intraday Trading | Up to 3.5 times | Up to 5 times | Up to 5 times |
| Equity Futures | Up to 3.5X | 5X | 5X |
| Equity Option Writing | 2.5X | 5X on normal and 10X on expiry | 5X on normal and 10X on expiry |
| Currency Futures | 1 time | 1 time | 1 time |
If you required higher margin then Open account with Upstox or Open account with Zeordha
Zerodha vs Upstox vs 5paisa Trading Platform
All three stockbrokers offer a decent trading platform. However, on deep analysis, we find that the Upstox pro is the best trading platform among the rest of the platforms offered by the three brokers.
Upstox Pro is fast, stable, and loaded with a host of advanced charting tools (in fact more than 100 indicators), watchlist and customizable features.
Zerodha’s Kite is good in normal trading hours but there are speed issues at the market closing period. In closing hours the platform sometimes gets stuck and leaves you stranded.
5paisa trading platforms are decent for a regular trader. If you are regular trader with high volumes then choose any between Upstox or Zerodha.
Zerodha Trading Platforms
#1. Kite 3.0 Trading Platform
Kite 3.0 is Zerodha’s web-based frontline trading and investment platform. You can access Kite on your mobile, tablets, desktop and laptops with access to the internet.
The platform offers sleek interface, advanced charting tools and an option to search 90,000+ stocks and F&O contracts across stock exchanges like BSE, NSE and MCX with zero latency.
The best part is that you can have 20 market depths or level 3 data while you are trading.
Zerodha also offers Kite Connect API for you to build your own applications. You can even build a full-fledged trading/ investment platform using your favorite language. The Kite Connect API supports Python, Java, PHP, NodeJS, C#, and .Net.
#2. Kite Mobile
Zerodha’s Kite Mobile App is a miniature version of Kite 3.0 trading platform with biometric (fingerprint and Face ID – iOS) 2FA login for better security
The app helps you trade and monitor live streaming data from BSE, NSE and MCX.
The app works on 0.5 kbps of data speed and is paced with extensive charting with over 100 indicators and 6 chart types, advanced order types like Brackets and Cover, and millisecond order placements features.
Upstox Trading Platform
#1. Upstox Pro Web
Upstox Pro web trading platform helps you to perform in-depth analysis and market understanding.
You also get the drag-and-drop facility and advanced features like API integration, algo trading, charts and technical indicators. The 100+ indicators combined with charts help you analyze the market smartly.
Upstox provides an API to build a complete investment and trading platform or an application. The API supports Python, Javascript.
#2. Upstox NEST Trader Desktop
NEST trader is a .exe downloadable trading platform for professional traders. The platform is stable and real fast. You can monitor markets, place orders, and buy & sell shares in real-time without hiccups.
You can customize the interface, have a multi-monitor for market watch and trading separately and enterprise-level stability.
#3. Upstox Pro Mobile App
The Upstox pro mobile app is compatible with iOS and Android smartphones. The app helps you track your favorite scripts, indices, and monitor the markets using charting tools and more than 100 technical indicators.
5paisa Trading Platforms
#1. 5paisa Trader Station Web Platform
5paisa “Trader Station Web” is compatible with Chrome, Firefox, Safari and can be accessed on a computer, laptops, mobile devices or tablets.
The platform offers a consolidated view of your portfolio, positions and holdings across equity & mutual funds.
#2. 5paisa Trader Station EXE
5paisa “Trade Station EXE” is a desktop trading platform for advanced traders. The platform is loaded with advanced trading tools, real-time data, advanced charts for intraday and past stock prices for comparison.
#3. 5paisa App (Mobile Trading App)
5paisa app is a mobile-based trading platform integrated with Robo advisory and research advisory.
The app helps you to buy stocks, trade-in stock and currency futures & options, invest in mutual funds and bonds.
Why You Might Prefer 5paisa Trading Account
5paisa trading and Demat account is best for any new trader who wants to learn markets by trading. He can do so by paying a small amount of Rs. 10 on platinum and titanium plans.
New stock traders can benefit from free account opening and decent trading platforms. The lower margins (5X) protects them from severe losses while still learning.
Why You Might Prefer Upstox Trading Account
Upstox offers a fast, stable and safe trading platform apt for regular and professional traders. The cost structure supports low-cost intermediate and advanced traders.
You can start trading with Rs. 20 brokerage and then with experience you need not switch brokers for your higher trading requirements. You can move to the priority pack that offers 28x leverage.
Why You Might Prefer Zerodha Trading Account
Zerodha is the most trusted Demat service provider in India. You can expect the best customer support as compared to all the discount brokers in India.
You can trade high volumes by paying flat Rs. 20 brokerage charges.
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