| Metric | G Groww | Z Zerodha | U Upstox |
|---|---|---|---|
| Rating | ★★★★★★★★★★ 4.0/5 | ★★★★★★★★★★ 3.6/5 | ★★★★★★★★★★ 4.2/5 |
| Account opening fee | ₹0 | ₹0 | ₹0 |
| AMC | ₹0 | ₹300/yr (1st yr free) | ₹300/yr (1st yr free) |
| DP Charges | ₹20 | ₹13 | ₹20 |
| Equity Delivery brokerage | ₹20 or 0.1% (whichever is lower, minimum ₹5) | ₹0 | ₹20 |
| Intraday brokerage | ₹20 or 0.1% (whichever is lower, minimum ₹5) | ₹20 or 0.03% (whichever is lower) | ₹20 or 0.1% (whichever is lower) |
| F&O Futures brokerage | ₹20 | 0.03% or ₹20 (whichever is lower) | ₹20 or 0.05% (whichever is lower) |
| Options brokerage | ₹20 | ₹20 | ₹20 |
| Currency Futures brokerage | Unsupported | 0.03% or ₹20 (whichever is lower) | ₹20 or 0.05% |
| Options brokerage | Unsupported | ₹20 | ₹20 |
| Commodity Futures brokerage | ₹20 | 0.03% or ₹20 (whichever is lower) | ₹20 or 0.05% |
| Options brokerage | ₹20 | ₹20 | ₹20 |
Groww vs Zerodha vs Upstox Brokerage Comparison
Here's the brokerage Groww vs Zerodha vs Upstox charge on a ₹1,00,000 turnover, along with other charges like STT, CTT, stamp duty, SEBI charges, transaction charges and GST — so you can see the real, all-in cost of trading in each segment.
Equity F&O Currency Commodity | |||
|---|---|---|---|
| Metric | G Groww | Z Zerodha | U Upstox |
| Turnover | ₹1,00,000.00 | ₹1,00,000.00 | ₹1,00,000.00 |
| Brokerage Rate | ₹20 or 0.1% (whichever is lower, minimum ₹5) | ₹0 | ₹20 |
| Brokerage Applicable | ₹20.00 | ₹0.00 | ₹20.00 |
| STT | ₹100.00 | ₹100.00 | ₹100.00 |
| Exchange Charges | ₹2.97 | ₹2.97 | ₹2.97 |
| GST | ₹4.15 | ₹0.55 | ₹4.15 |
| SEBI Charges | ₹0.10 | ₹0.10 | ₹0.10 |
| Stamp Duty | ₹15.00 | ₹15.00 | ₹15.00 |
| Total Tax and Charges | ₹142.22 | ₹118.62 | ₹142.22 |
* Actual charges may vary slightly by broker plan — always check the contract note.
Groww vs Zerodha vs Upstox Company Information
Key company facts for Groww vs Zerodha vs Upstox — broker type, founders, headquarters, depository and the exchanges and instruments each one supports.
| Detail | G Groww | Z Zerodha | U Upstox |
|---|---|---|---|
| Company Name | Billionbrains Garage Ventures Pvt Ltd | Zerodha Broking Ltd | RKSV Securities India Pvt Ltd |
| Broker Type | Discount Broker | Discount Broker | Discount Broker |
| Founded | 2016 | 15 August 2010 | 2009 (as RKSV Securities; rebranded Upstox in 2016) |
| Founders | Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal | Nithin Kamath, Nikhil Kamath | Ravi Kumar, Shrini Viswanath, Kavitha Subramanian, Raghu Kumar |
| Funding | Venture Funded (Tiger Global, Peak XV, YC and others) | Bootstrapped (self-funded, no external investors) | Venture Funded (Tiger Global, Ratan Tata, Kalaari Capital and others) |
| Headquarters | Bengaluru, Karnataka | Bengaluru, Karnataka | Mumbai, Maharashtra |
| Depository | CDSL | CDSL | CDSL |
| Exchange | NSE, BSE | NSE, BSE, MCX, MSEI | NSE, BSE, MCX |
| Investment | Stocks, IPO, Mutual Funds, US Stocks, ETFs, Futures, Options, Digital Gold | Stocks, IPO, Mutual Funds, ETFs, Futures, Options, Commodities, Currency, G-Sec | Stocks, IPO, Mutual Funds, Futures, Options, Commodities, Currency, Digital Gold |
Groww vs Zerodha vs Upstox: Which Should You Choose?
These three are consistently among the most-compared demat brokers in India, and each comes from a distinct background. Groww (Billionbrains Garage Ventures) launched in 2016 from Bengaluru with backing from Tiger Global, Peak XV and Y Combinator. Zerodha (Zerodha Broking Ltd) is the veteran of the group, founded on 15 August 2010, also from Bengaluru, and remains fully bootstrapped with no outside investors to this day. Upstox has the longest history of the three despite the younger brand name — it began as RKSV Securities in 2009 before rebranding in 2016 — and is backed by Tiger Global, Ratan Tata and Kalaari Capital out of Mumbai.
On cost, Zerodha is the only one of the three offering free (₹0) equity delivery; Groww charges ₹20 or 0.1% (minimum ₹5) and Upstox charges a flat ₹20 per order. AMC follows a similar split — Groww is ₹0 for life, while both Zerodha and Upstox charge ₹300/yr with the first year free. DP charges range from Zerodha's ₹13 (the lowest of the three) up to ₹20 for both Groww and Upstox. On F&O, all three land in a similar band — Zerodha at 0.03% or ₹20 on futures, Upstox at 0.05% or ₹20, and Groww at a flat ₹20 — with options brokerage flat at ₹20 across the board.
Product coverage also separates them: Zerodha supports the widest range, including commodities, currency and G-Secs across NSE, BSE, MCX and MSEI. Upstox covers stocks, IPO, mutual funds, F&O, commodities, currency and digital gold on NSE, BSE and MCX. Groww covers stocks, IPO, mutual funds, US stocks, ETFs, F&O and digital gold on NSE and BSE, but has no currency or commodity segment yet. For a beginner opening their first demat account, Groww's zero-AMC, simple interface is usually the easiest starting point. For someone trading intraday or F&O regularly, it's really a choice between Zerodha and Upstox — Zerodha for free delivery, wider segments and platform depth, Upstox for a leaner app and closely competitive F&O pricing. Use the table above to compare account opening fee, AMC, DP charges and the exact brokerage for the segment you trade most — the right choice usually comes down to one or two of these numbers for your specific trading style.
Frequently Asked Questions
Which is best among Groww, Zerodha and Upstox?
There isn't a single universal winner — Groww suits beginners who want a zero-AMC, simple account, Zerodha suits active traders who want free equity delivery and the widest segment coverage (including currency and G-Secs), and Upstox is a strong middle ground on F&O pricing and app experience. Compare the exact charges and ratings in the table above for your use case.
Which of Groww, Zerodha and Upstox has the lowest charges?
Zerodha has the lowest overall trading costs — free equity delivery and the lowest DP charge (₹13) of the three — though it does charge AMC after the first year, unlike Groww's ₹0 lifetime AMC. Upstox sits closest to Zerodha on F&O futures pricing. Check the live comparison table above for the current numbers, since these do change over time.
Which is best for a first-time demat account, Groww, Zerodha or Upstox?
Groww is generally the easiest starting point for first-time investors thanks to its zero-AMC account and simple interface, even though its per-trade delivery charge is higher than Zerodha's. Zerodha and Upstox are both strong choices once you start trading more actively, particularly in F&O, where all three brokers are closely priced.
Groww vs Zerodha vs Upstox Review Comparison
What real users are saying about Groww vs Zerodha vs Upstox — read verified reviews side by side before you decide.
Everything is very easy to understand and segmented on different portions. One problem is I can't increase Sip money instantly. It has to be wait for 6 months to 1 year. That's a problematic part i guess.