Zerodha vs Upstox
A side-by-side comparison of charges, brokerage, segments and ratings — with a free calculator to see which broker is cheaper on a trade of your size.
Bottom line
Zerodha offers free equity delivery while Upstox charges ₹20 or 2.5% (lower), and both charge ₹20 / order (flat) on F&O. Choose Zerodha for long-term investors & serious traders who want a dependable platform. Choose Upstox for active traders who want a polished app at flat per-order pricing.
Charges are compiled from each broker's official published rate card and the prevailing NSE / SEBI statutory rates. Figures are indicative and reviewed periodically — always confirm current charges on the broker's own website before opening an account.
Est. 2010 · BengaluruIndia's largest broker by volume — free delivery, rock-solid Kite platform.
Est. 2009 · MumbaiBacked by Ratan Tata & Tiger Global — slick app, flat per-order pricing.
Zerodha vs Upstox — Charges & Features
| Parameter | | |
|---|---|---|
| Rating | 3.9/ 5 | 3.6/ 5 |
| Account opening | ₹200 | ₹0 (free) |
| Maintenance (AMC) | ₹300 / year | ₹150 / quarter (1st year free) |
| Equity delivery | ₹0 (free) | ₹20 or 2.5% (lower) |
| Equity intraday | ₹20 or 0.03% (lower) | ₹20 or 0.05% (lower) |
| Futures | ₹20 or 0.03% (lower) | ₹20 / order (flat) |
| Options | ₹20 / order (flat) | ₹20 / order (flat) |
| DP charges | ₹13.5 + GST per scrip (sell) | ₹18.5 + GST per scrip (sell) |
| Margin (intraday) | Up to 5× intraday (MIS) | Up to 5× intraday (MIS) |
| Active clients | ~80 lakh | ~26 lakh |
| Founded | 2010 | 2009 |
| Headquarters | Bengaluru | Mumbai |
| Segments | Equity, F&O, Currency, Commodity, Mutual Funds, IPO | Equity, F&O, Currency, Commodity, Mutual Funds, IPO |
| Platforms | Kite, Console, Coin | Upstox Pro, Upstox Web |
Charges are indicative, compiled from each broker's published rate card (reviewed June 2026), and exclude statutory taxes. Verify current rates on the broker's website.
Brokerage Cost Calculator
Lower cost- Brokerage
- ₹0.00
- STT
- ₹201.00
- Exchange txn
- ₹5.97
- GST
- ₹3.54
- SEBI
- ₹0.20
- Stamp duty
- ₹15.00
- DP charges
- ₹13.50
- Brokerage
- ₹40.00
- STT
- ₹201.00
- Exchange txn
- ₹5.97
- GST
- ₹11.64
- SEBI
- ₹0.20
- Stamp duty
- ₹15.00
- DP charges
- ₹18.50
On this delivery trade, Zerodha is cheaper by ₹53.10 in total charges.
Estimate based on NSE statutory rates (STT, exchange, SEBI, stamp duty & 18% GST) plus each broker's published brokerage. DP charges apply on delivery sells. Actual contract-note charges may vary slightly.
Pros & Cons
- Free equity delivery investing
- Reliable, fast Kite web & mobile platform
- Largest broker — deep liquidity & trust
- Free education via Varsity
- ₹200 account opening charge
- Occasional load during peak volatility
- Support is largely ticket/email based
- Free account opening
- Fast, modern trading app
- Flat ₹20 per order on F&O
- Strong institutional backing
- AMC of ₹150/quarter after the first year
- Delivery not free for larger trades
- Past app stability complaints during peaks
FAQs
Zerodha vs Upstox — FAQs
For information only — not investment advice or a recommendation of any broker. OptionX is broker-neutral. Charges are indicative; confirm current rates with the broker before opening an account.
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