Upstox vs Zerodha Comparison 2022 [Who is the Best Discount Broker in India]

Upstox vs Zerodha: With zero shipping expenses and a cheap flat fee of Rs. 20 for trading, both (Zerodha and Upstox – RKVS) have been the most popular bargain brokers in India.

You may trade high quantities for a low charge of Rs 20 each transaction.

Upstox and Zerodha are identical in terms of costs and advantages from the start. On the one hand, Zerodha is the largest discount broker, with over 12 lakh customers, while on the other, Upstox recently surpassed the ten-thousand-customer milestone.

There are, nevertheless, some distinctions.

Zerodha is the most trusted and preferred broker among traders, while Upstox has emerged as the fastest-growing discount broker in the previous two years.

You may anticipate superior customer service from Zerodha and excellent incentives from Upstox, such as free brokerage credit.

Also Read:  Best Demat Account Lowest Brokerage

Upstox vs Zerodha comparison and review
Upstox vs Zerodha comparison and review

Depending on your needs, you may establish an account with either Upstox or Zerodha. Both brokers are considerably superior than the other cheap brokers in terms of service.

I compared Zerodha and Upstox (RKSV) to help you decide which is best for your trading style. Before we get into the details of the assessment, let’s compare the two discount brokers on the most crucial criteria.

Upstox Vs Zerodha – (Comparison)

Specification Upstox Zerodha
Trade-in Options (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 Charges & Fees
Upstox Basic Plan-Specifics Zerodha Plan-Specifics
(Equity delivery) ₹.0 ₹.0
(Equity Intraday, Futures, Options) (Lower of ₹20 each executed order or 0.05 percentage) (Lower of ₹ 20 each executed order or 0.03 percentage)
(Currency & Commodity FNO) (Lower of ₹ 20 each executed order or 0.05 percentage) (Lower of ₹20 each executed order or 0.03 percentage)
(Charges for Call and Trade) ₹ 20 each order ₹50 each order
(Margin for Intraday) Up to 15X Upto 15X
(Account Opening Charges) ₹299 ₹200
(AMC Charges) ₹25 each month ₹300 yearly
(Apply Now) (Open Upstox account) (Open Zerodha Account)

Comparison of Upstox and Zerodha Charges.

Zerodha Brokerage vs. Upstox Brokerage

Upstox (RKSV) and Zerodha both charge the same fixed ₹20 per trade brokerage fee.

Upstox charges ₹20 every order, or 0.03 percent, whereas Zerodha charges ₹20 per order, or 0.05 percent.

If the value of your order exceeds ₹67000, both brokers will charge the same amount, i.e. ₹20. However, if the trade volume is less than ₹67000, Zerodha would impose a reduced fee.

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Account Charges for Upstox vs. Account Charges for Zerodha

Upstox charges ₹299 to establish an account. In exchange, you will receive a free brokerage credit of ₹1000, which will be good for 7 days.

Zerodha, on the other hand, levies a ₹200 account opening cost.

The yearly Upstox account maintenance fee is ₹25 per month.

A annual maintenance cost of ₹300 is charged by Zerodha.

Review of Upstox (RKSV) Demat and Trading Account

Upstox review

Upstox, formerly known as RKSV Securities, caters to large-volume traders seeking huge margins (up to 28X), inexpensive brokerages, and adequate trading platforms.

On intraday transactions, you may obtain up to 28X leverage while paying a flat fee of ₹20 each trade, regardless of the trading volume.

Tiger Global, Ratan Tata, and GVK Davix are among the investors of Upstox. As a result, you may rest certain that your brokerage business is trustworthy. Upstox is a platform that allows you to trade stocks, futures, options, currencies, and commodities. Upstox may also be used to invest in mutual funds.

Also Read: Upstox Detailed Review | Upstox public review

Brokerage Fees for RKSV (Upstox)

The Basic Plan and the Priority Plan are the two trading programs offered by Upstox. Customers can choose between the two programs.

Trading Category
Brokerage fees & Charges for
Basic Plan
Brokerage fees & Charges for Priority Plan
(Equity Delivery) ₹0 ₹ 0
(Equity Intraday, FNO) Lower of ₹20 in accordance with each completed order or 0.05% Lower of ₹30 in accordance with each completed order or 0.10%
(Currency Futures ) Lower of ₹ 20 in accordance with each completed order or 0.05% Lower of ₹30 in accordance with each completed order or 0.10%
(Commodity Futures) Lower of ₹20 in accordance with each completed order or 0.05% Lower of ₹30 in accordance with each completed order or 0.10%
(Currency Options) ₹20 in accordance with each completed order ₹30 in accordance with each completed order
(Commodity Options) ₹20 in accordance with each completed order ₹30 in accordance with each completed order

Upstox Margin is a service provided

Intraday traders seeking for additional leverage could use the Priority Trading Pack. Equities, F&O, and CDS are charged ₹999 per month by Upstox, whereas commodities are charged ₹400 per month.

Intraday Margin (Upstox)

Category (Basic  Pack)
(Priority Pack)
(NSE/ BSE Cash) 15 times 20 times
(Index Futures) 3 times 6 times
(Stock Futures) 3 times 3 times
(Index Option Sell) 3 times 6 times
(Stock Option Sell) 3 times 3 times
(NSE Currency) 4 times 4 times
(MCX Futures) 2.5 times 3 times

Margin as per ( OC/ OCO Orders)

Segment (Basic Pack) (Priority Pack)
(NSE/ BSE Cash) 20 times 27 times
(Index Futures) 20 times 28 times
(Stock Futures) 5 times 6 times
(Index Option Sell) 3 times 4 times
(Stock Option Sell) 3 times 3 times
(NSE Currency) 4 times 5 times
(MCX Futures) 3 times 4 times
(NSE Option Buy) 1.33 times 2 times

Upstox Account- (Opening Charges)

The account signup process for Upstox is entirely online. The paperless account opening procedure may be finished in a single day with Aadhaar.

  • Upstox Equity costs ₹ 299 Trading and Demat
  • Monthly Maintenance Fees for Upstox Demat Accounts – ₹25

Pros

  • There are no brokerage costs for delivery.
  • Trading platforms that are exceptional
  • (Fix & low brokerage) – irrespective of trade volume
  • There are no Demat fees to begin with
  • the brokerage is set and affordable regardless of transaction volume.

Cons

  • It is not feasible to invest directly in an IPO or an FPO.
  • The customer service might have been better.

Also Read:  Top 12 Demat Account Lowest Brokerage

For Whom Is The Upstox Account Appropriate?

Upstox is known for delivering value-added services such as a free brokerage credit of ₹ 1000.

If you’re looking for deals with low brokerage costs and huge profits, you should sign up for an account with Upstox.

Zerodha Demat & Trading Account Review

zerodha

In India, Zerodha pioneered the discount broking concept by proposing a disruptive price strategy of ₹0 fee for delivery and a fixed ₹20 for all other deals.

Zerodha is India’s most reputable and reliable bargain broker. Customer service is the most important factor in their success. You will receive a good reaction if you contact their customer service via phone or email.

Zerodha also includes a resource page with calculators, news & circulars, application & other handy forms to address all of your questions.

Zerodha Q & A

New traders could look into Zerodha Varsity and the Trading QnA site, both of which cover subjects ranging from basic to advanced trading.

Many brokerage firms tried to copy Zerodha’s price offerings but struggled to provide a good service.

Zerodha can assist you with your trade-in

  • Stocks and IPO Derivatives
  • Commodity and CurrencyMutual funds directly
  • Commodities, and currencies.
  • Bonds and Government Securities

Also Read:  11 Best Bank to Open Account in India : High Interest List

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Brokerage Fees & Charges

Unlike Upstox, Zerodha does not offer separate trading programs. Regardless of the transaction volume, you must pay a maximum of ₹ 20.

(Trading Category Brokerage Fees & Charges
(Equity Delivery) ₹0
(Equity Intraday & Futures) Lower of ₹20 in accordance with each completed order or 0.03 percent
(Equity Options) ₹20 in accordance with each completed order
(Currency, Commodity FNO) Lower of ₹20 in accordance with each completed order or 0.03 percent

However, Zerodha charges for value-added services like providing stock reports, screeners, and small cases.

zerodha charges

Margin (Provided)

Margin/leverage is available on the Margin Intraday Square off (MIS), Cover orders (CO), and Bracket orders (BO) products at Zerodha.

The Intraday Margin (MIS) is as follows:

(Segment) (Margin)
(Equity Delivery) (No Margin)
(Intraday Equity) Up to 15 times ( depending on the scrip)
(Index F&O) 4.16 times
(Stock F&O) 3.33 times
(Currency Futures ) 2 times
(Commodity Futures) 2 times

A stop loss is put with the first order in Cover Orders (CO) and Bracket Orders (BO). As a result, the deal is considered to be less hazardous. As a result, Zerodha offers more leverage on CO and BO.

Zerodha, on the other hand, does not reveal the margin offered. Before you trade, you should utilize BO&CO margin calculators.

Suppose you wish to put a (CO order-sell) for said scrip Asian Paints, for example. After that, you must choose the amount, price, and stop-loss price.

Once you choose “Calculate,” the (BO&CO) calculator will display the requisite margin as well as leverage metrics in the upper right-hand corner, as seen below.

zerodha

Zerodha – (Account Opening Charges )

The fees for creating an account online are as follows:

Specifics Fees & Charges
Trading and Demat – (account opening charges) ₹200
(Commodity Account) ₹100
(Annual maintenance charges) ₹300

Pros

• Delivery is free of brokerage fees.
• Trading commissions are fixed at a low level.
• To open and manage the account, no minimum amount is necessary.
• Customer service that is excellent.
• The greatest trading platforms are provided by this company.

Cons

  •  During trading hours, certain consumers may experience delays and service outages.

Best For

For traders seeking for quality trading platforms, moderate brokerage charges, and excellent customer service, Zerodha is the ideal option.

Upstox Vs Zerodha – Comprehensive Comparison Table

Specifics UpStox Zerodha
Category (Discount Broker) (Discount Broker)
(trade-in option) (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
(Can invest in) (Mutual funds (Mutual fundsIPO – through Bhim UPI
(Customer Support) (Through calls and e-mail (Through calls, e-mails and tickets
(Forum) None Trading QnA Forum
(Program for Traders) None 60-day challenge
(Referral Program) Yes Yes
(Learning Resources) Limited to basic guides Zerodha Varsity
(Brokerage Plan) Basic and Priority Plans No Plans
(Brokerage Charges) Details for Upstox Basic Plan Details for Zerodha Plan
(Equity delivery) ₹0 ₹0
(Equity Intraday) Lower of ₹20 in accordance with each completed order or 0.05 percent Lower of ₹20 in accordance with each completed orderor 0.03 percent
(Equity Futures) Lower of ₹20 in accordance with each completed order or 0.05 percent Lower of ₹ 20 in accordance with each completed order or 0.03 percent
(Currency Futures ) Lower of ₹20 per executed order or 0.05% Lower of ₹20 in accordance with each completed order or 0.03 percent
(Commodity Futures) Lower of ₹20 in accordance with each completed order or 0.05 percent Lower of ₹20 in accordance with each completed order or 0.03 percent
(Equity Options) ₹20 in accordance with each completed order ₹20 in accordance with each completed order
(Currency Options) ₹20 in accordance with each completed order Lower of ₹20 in accordance with each completed order or 0.03 percent
(Commodity Options) ₹20 in accordance with each completed order Lower of ₹ 20 in accordance with each completed order or 0.03 percent
(Call and Trade Facility ) Yes Yes
(Charges for Call and Trade) ₹20 in accordance with each completed order ₹50 in accordance with each completed order
(Margin for Intraday) Details for Upstox Basic Plan Details for Zerodha Plan
(NSE/ BSE Cash) 15 times 15 times
(Index Futures) 3 times 4.16 times
(Stock Futures) 3 times 3.33 times
(Index Option) 3 times 4.16 times
(Stock Option) 3 times 3.33 times
(NSE Currency 4 times 2 times
(MCX Futures) 2.5 times 2 times
(Margin for OC/ OCO) Upstox Basic Plan – Specifics
Zerodha Plan – Specifics
(NSE/ BSE Cash) 20 times Doesn’t reveal everything upfront. The BO&CO margin calculator is required to be used.
(Index Futures) 20 times (Same as above)
(Stock Futures) 5 times (Same as above)
(Index Option Sell) 3 times (Same as above)
(Stock Option Sell ) 3 times (Same as above)
(NSE Currency) 4 times (Same as above)
(MCX Futures) 3 times (Same as above)
(NSE Option Buy) 1.33 times (Same as above)
(A/c opening ) Both online and offline (Both online & offline)
(A/cOpening Charges) Upstox  Zerodha 
(Demat Account) ₹0 (Charges for Demat & Trading A/c is clubbed – ₹200)
(Trading Account) Rs. 0 (Charges for Demat & Trading A/c is clubbed – ₹200)
(Demat AMC Fees) ₹25 each month ₹300
(Commodity Account) ₹0 ₹100
(3-in-1 account) IndusStox (3-in-1 account) Zerodha IDFC First (Bank 3-in-1 A/c)
(Trading Platforms) Upstox (Pro WebUpstox NEST Trader) Zerodha Kite (3.0 Zerodha PI)
(Partnered Platform/ software) Dartstock software (Fox Trader) None
(Cloud Alert Tool) NA (Sentinel)
(APIs) (Upstox API supports Python, Javascript. .NET through the third party ) (Kite Connect API supports Python, Java, PHP, NodeJS, C#, and .Net.)
(Trading App) (Upstox Pro App) (Kite Mobile App)
(Apply Now) (Open Free Upstox Account) (Open Zerodha Account)

Often Asked Questions – Upstox vs Zerodha

Q: What papers are required to create an online account?

A: You will need to provide scanned copies of the following papers to create an online Demat and Trading account:

  • Aadhaar Card PAN Card
  • Check has been canceled.
  • a scanned or photocopy of your signing evidence
  • If you wish to trade F&O, you must have evidence of income.
  • IT Acknowledgement Form-16
  • Bank statement over the previous six months
  • The most recent pay stub
  • Statement of net worth verified by a CA

Q: What is the purpose of a power of attorney (PoA) and why is it necessary?

A: A Power of Attorney (PoA) is a document that authorizes your broker to debit shares from your Demat account on your behalf.

When you wish to sell your shares, you’ll need a POA. Your broker will be unable to sell your shares if you do not have a PoA.

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

A: You may utilize NEFT, IMPS, and RTGS to add money to your Net Banking account. You must first add your broker as a Beneficiary (Payee) before transferring the cash.

Q: What is the distinction between limit and market orders?

A limit order is a purchase or sale order for a stock, F&O, at a certain price. Only when the required price is met is the deal done.

A market order is an order to buy or sell something at the current market price. After the orders are made, the deal is immediately executed.

Q: What exactly is a stop loss?

A stop-loss order is a buy/sell order that is designed to limit losses when prices fluctuate.
For instance, if you purchased a stock for Rs 150 and want to restrict your loss to Rs 145, you might set a stop-loss order at Rs 145. If the price goes below Rs. 145, Your shares will be sold right away by the system. In the event of a market downturn, you prevent further losses.

last thoughts (Zerodha vs Upstox Which is Better)

Why Might You Prefer Zerodha?

Zerodha is designed for the budget-conscious trader who is just getting started in the world of stock investing and trading.

The flat Rs. 20 per transaction brokerages and reasonable 12.5x margins are neither too high nor too low, and they protect you from significant losses.

Why Might You Prefer Upstox? (RKSV)

Both beginning and intermediate traders and investors can benefit from Upstox’s brokerage programs (which are similar to Zerodha’s) and margin structure. The most significant advantage is that Upstox offers one of the quickest trading platforms available, which is critical for intraday trading.

You will be given a brokerage credit of Rs 1000.

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