Groww vs Zerodha: Find the best Stock Broker India


Last updated on June 7, 2024

Groww and Zerodha are among the biggest discount brokers in India. This means they don’t provide any recommendations or tips. Both brokers are registered with SEBI and offer investments in different market segments like Equity, F&O, Currency, and Commodities. However, they provide state-of-the-art trading platforms and charge low and flat brokerage charges. The brokerage of Zerodha is INR 20 or 0.03% whichever is lower per trade while the brokerage of Groww is lower of INR 20 or 0.05% whichever is lower per executed order. The number of active clients for Zerodha is 73,92,836 whereas the number of active clients for Groww stood at 99,31,232 as of April 2024. Groww is serving more customers compared to Zerodha. Groww vs Zerodha is compared in this article.

Zerodha vs Groww Brokerage Charges April 2024

Groww vs Zerodha – Company Information

Zerodha was founded in 2010 in Bangalore by Nithin Kamath and Nikhil Kamath. It offers trading in NSE, BSE, and MCX exchanges in equity, currency, and commodity segments. The company has over 120 partner offices and branches across India.

Groww was founded in 2016 in Bangalore by Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. It offers trading only in NSE and BSE as of now as commodity and currency segments aren’t enabled.

Read Also: Zerodha Margin Calculator

Groww vs Zerodha Charges

  • Zerodha vs Groww Account Opening Charges & AMC
Account Opening and Demat ChargesZerodhaGroww
Equity Trading Account Opening ChargesOnline – INR 200
Offline – INR 500
Commodity Account Opening ChargesOnline – INR 100
Offline – INR 500
Trading Account AMC ChargesZeroZero
Demat Account Opening ChargesZeroZero
Demat Account AMC ChargesINR 300 (Above – INR 2,00,000)Zero
  • Zerodha vs Groww Brokerage Charges
Equity DeliveryNo brokerageINR 20 per order or 0.05%, whichever is lower
Equity IntradayINR 20 per order or 0.03%, whichever is lowerINR 20 per order or 0.05%, whichever is lower
Equity FuturesINR 20 per order or 0.03%, whichever is lowerINR 20 per executed order
Equity OptionsINR 20 per executed orderINR 20 per executed order
Currency FuturesINR 20 per order or 0.03%, whichever is lowerN/A
Currency OptionsINR 20 per executed orderN/A
Commodity FuturesINR 20 per order or 0.03%, whichever is lowerN/A
Commodity Options INR 20 per executed orderN/A
Call & Trade ChargeINR 50 per executed orderN/A
Minimum Brokerage0.03% in Intraday and F&O trades0.05%
P&L/CMR ChargesINR 20 + INR 100 (courier charge) + 18% GST for subsequent requestsINR 20 + INR 100 (courier charge) + 18% GST for subsequent requests

Read Also: Zerodha vs Upstox: Find the best Stock Broker India

  • Zerodha vs Groww Transaction Charges
Equity Delivery NSE: 0.00322%| BSE: 0.00375% (Both Buy & Sell)NSE: 0.00322% | BSE: 0.00375%
(Both Buy and Sell)
Equity IntradayNSE: 0.00322%| BSE: 0.00375% (Both Buy & Sell)NSE: 0.00322% | BSE: 0.00375% (Both Buy and Sell)
Equity FuturesNSE: 0.00188%%| BSE: ZeroNSE: 0.00188% | BSE: Zero (Both Buy and Sell)
Equity OptionsNSE: 0.0495%| BSE: 0.0495% (on premium)0.0495% (on premium)
Currency FuturesNSE: 0.0009%| BSE: 0.0009%N/A
Currency OptionsNSE: 0.035%| BSE: 0.001%N/A
Commodity FuturesGroup A – 0.0026%N/A
Commodity Options0.05%N/A
  • Groww vs Zerodha Other Statutory Charges
Statutory ChargesZerodhaGroww
STT/CTT Equity Delivery 0.1% (Both Buy & Sell)0.1% (Both Buy & Sell)
STT/CTT Equity Intraday 0.025% on the sell side0.025% on the sell side
STT/CTT Equity Futures 0.0125% on the sell side0.0125% on sell-side
STT/CTT Equity Options0.0625% on the sell side (on premium)0.0625% on the sell side (on premium)
STT/CTT Currency Futures & OptionsNo STTN/A
STT/CTT Commodity Futures0.01% on sell side (Non-Agri)N/A
STT/CTT Commodity Options0.05% on sell sideN/A
SEBI Turnover ChargesINR 10/croreINR 10/crore
Stamp Equity Delivery 0.015% or INR 1500/crore on buy-side0.015% or INR 1500/crore on buy-side
Stamp Equity Intraday 0.003% or INR 300/crore on buy-side0.003% or INR 300/crore on buy-side
Stamp Equity Futures 0.002% or INR 200/crore on buy-side0.002% or INR 200/crore on buy-side
Stamp Equity Options0.003% or INR 300/crore on buy-side0.003% or INR 300/crore on buy-side
Stamp Currency Futures0.0001% or INR 10/crore on buy-sideN/A
Stamp Currency Options0.0001% or INR 10/crore on buy-sideN/A
Stamp Commodity Futures0.002% or INR 200/crore on buy-sideN/A
Stamp Commodity Options0.003% or INR 300/crore on buy-sideN/A
DP (Depository participant) ChargesINR 13 per scripINR 13.5 per company only on Sell
Pledging ChargesINR 30 per scripINR 0 for Pledge Order, INR 20 ISIN per Request for Unpledge Order
Auto Square off ChargesINR 50 per executed orderINR 50 per position
API Subscription ChargesINR 2,000 per app each monthZero
18% GST applicable on services

Also Read: Top Stock Brokers in India 2024

Groww vs Zerodha: Exposure/Leverage (Margin)

Zerodha’s margin for intraday trading is up to 20% of the trade value (5x leverage) based on the stock whereas the Groww margin for intraday cash is also up to 20% of the trade value (5x leverage) based on the stock.

Equity Delivery100% of trade value (1x leverage)100% of trade value (1x leverage)
Equity IntradayUpto 20% of trade value (5x leverage)Upto 20% of trade value (5x leverage)
F&O (Equity, Currency & Commodity)100% of NRML margin (Span + Exposure) (1x leverage)100% of NRML margin (Span + Exposure) (1x leverage)

Features of Groww vs Zerodha Platforms

3 in 1 AccountNoNo
Algo TradingYesNo
Trading PlatformKite Web
Kite Mobile for Android/iOS and Coin
Groww web, Groww Mobile for Android
SMS AlertsNoNO
Online DemoYesNo
Online PortfolioYesYes
Margin Trading Funding AvailableNoYes
Margin Against Shares (Equity Cash)YesNo
Margin Against Shares (Equity F&O)YesNo
Intraday Square-off Time3:20 PM3:20 PM
Other FeaturesDirect Mutual Funds,
APIs for Algo Trading
Referral ProgramYesYes

Also Read: Fyers Brokerage Calculator

Zerodha vs Groww – Active Clients and Complaints

Number of Active Clients73,92,83699,31,232
Market Share17.67%23.74%
Number of Complaints567834
Groww vs Zerodha

Groww vs Zerodha – Pros and Cons

Pros 1. India’s No. 2 broker in terms of the number of active clients
2. Maximum INR 20 per trade brokerage for all segments
3. Simple flat fee brokerage services across segments and exchanges (BSE, NSE, MCX)
4. The NRI Trading account is available
5. Free equity delivery trades. No brokerage charges for Cash-N-Carry orders
6. Excellent trading platforms (Kite) are available for free
7. Direct Free Mutual Fund Investment is available
8. Good Till Triggered (GTT) orders are available
9. Safe, reliable, and most technologically advanced broker in India
1. India’s No. 1 broker in terms of the number of active clients
2. Zero Account opening fee
3. Zero Maintenance Charges
4. A straightforward pricing model with affordable trading fees
5. Seamlessly apply for IPOs online
6. Instant paperless account opening
7. Benefit from a direct Mutual Fund platform that can boost your returns by an additional 1.5%
8. Enjoy free Mutual Fund investments with complete transparency and no hidden fees
9. Open an account instantly without the need for paperwork
10. Access a wealth of knowledge through E-books, Resources, and Blogs that cover the fundamentals and market updates
Cons 1. It does not provide stock tips, research, and recommendations
2. It does not offer an AMC Free Demat account
3. Call & Trade is charged an extra INR 50 per order
4. It does not offer a 3-in-1 account
5. Auto Square Off is charged at an extra Rs 50 per order
6. No margin funding
7. It does not offer monthly unlimited trading plans
1. Commodity and currency segment trading is not offered
2. Margin against shares is not available
3. Stock tips, research reports, or recommendations are not offered
4. Call and Trade services are unavailable
5. Branch support is not provided
6. There is no Margin trading facility
7. Advanced order types like BO, CO, AMO, and GTT are not supported
8. NRI Trading services are not offered.
9. Trailing stop loss orders are not available in the Groww app
10. Doesn’t offer trading in SME shares

Groww vs Zerodha FAQs

Which is better in Groww vs Zerodha?

Groww vs Zerodha are both discount broker companies. As a result, to determine which stockbroker is best for them, we need to consider a variety of factors, including brokerage fees, account setup costs, trading platforms, and more.

Is Groww cheaper than Zerodha?

Groww brokerage for equity delivery is the lower amount of INR 20 per executed order or 0.05% while Zerodha charges no brokerage. Similarly, Zerodha’s charges for intraday, futures & options, currency, and commodity segments are marginally lower. In the Zerodha vs Groww brokerage charges debate, Zerodha wins hands down.

What is Groww AMC charge?

Groww has Annual Maintenance Charges of zero.


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