Zerodha and Upstox offer similar products and services. They have near-identical brokerage plans and provide an excellent trading platform. Both the trading platforms are unique and give the best customer services.
Lets first start with the introduction of both –
ZERODHA
Zerodha , an Indian financial service company which was formed in the year 2010 by two founders, Nithin and Nikhil Kamnath. It is headquartered in Bangalore and is available in major cities across the country. It provides trader to trade in various segments: Equity, commodity, F&O, currency trading and Mutual Funds. They provide three main platforms available in KITE and PI, for web-based KITE Web and KITE Connect, desktop-based PI and mobile-based KITE Mobile. It is registered in BSE and NSE, MCX, MCX-SX.5PAISA5Paisa is a discount broker kicked off into the market in 2015 by India Infoline (IIFL). It allows the trader to trade across segments such as Equity, Currency, Insurance and Mutual Funds. They provide in-built trading platform. It is registered in BSE, NSE, MCX, MCX-SX.
UPSTOX
Upstox, the rival competitor of the discount brokerage industry, was formed in 2009 by three co-founders: Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. The firm was funded by a group of people including Ratan Tata, Kalaari Capital, and GKV Davix. Coming to their product and brokerage, they don’t charge for investing in Equity Delivery. For the rest of the segments such as Intraday trading, F&O, currencies, and commodities, they charge flat at Rs. 20 or 0.05% of turnover per executed order whichever is lower. They provide both in-built trading platform called Upstox Pro and third-party Omnesys NEST platform. It is registered in NSE, BSE, MCX, MCX-SX.
| Zerodha zerodha.com | UpStox upstox.com | |
|---|---|---|
| Type of Broker | Discount Broker | Discount Broker |
| Special Offer | Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades. | Brokerage free equity delivery trading + Flat ₹20 Intra-day and F&O trades. |
| Trading Account Opening Fee | ₹200/- | ₹0/- |
| Demat Account Opening Fee | ₹0/- | ₹0/- |
| Demat Account AMC | ₹300 | ₹0/- |
| Trading Account AMC | ₹0/- | ₹0/- |
| Pros | No Brokerage on Equity delivery & Mutual Fund. Flat rate for stock trading. Own DP services. Strong Customer service . Good Brokerage & Margin Calculator. Offers up to 20x leverage on intraday trading. Offers most advanced online trading tools. Offers facility to apply on-line IPO . | No Brokerage on Mutual funds. DEMAT AMC free for Life Low cost Brokerage Self-directed, easy to use online learning for all levels Easy to get started with Aadhar based signup Good Brokerage & Margin Calculator Unlike other low-cost brokers, RKSV offer a variety of affordable pricing plans so that you can choose the plan best suited for you |
| Cons | No margin funding. Very High charges on Call and Trade @ ₹50 per call. Charges on Funds Transfer @ ₹9 per fund transfer. Charges on SMS Tradw alerts.₹1 for Equity, F&O, and Currency trade alerts and ₹0.50 for Commodity Additional charge of ₹50 per executed order for MIS/BO/CO positions which are not square off by the customer. Doesn’t provide stock tips, research reports or recommendations. Doesn’t offer Unlimited Trading Plans. | No margin funding Does not provide Tips & recommendation Turnover charges on futures and options is higher than competitors Upstox doesn’t offer unlimited monthly trading plans. Doesn’t offer research based services. Charges on Funds Transfer @ ₹7 per fund transfer. |
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