Last updated on April 17, 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 7,287,148 whereas the number of active clients for Groww stood at 9,538,609 as of March 2024. Groww is serving more customers compared to Zerodha. Groww vs Zerodha is compared in this article.
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 Charges | Zerodha | Groww |
| Equity Trading Account Opening Charges | Online – INR 200 Offline – INR 500 | Zero |
| Commodity Account Opening Charges | Online – INR 100 Offline – INR 500 | NA |
| Trading Account AMC Charges | Zero | Zero |
| Demat Account Opening Charges | Zero | Zero |
| Demat Account AMC Charges | INR 300 | Zero |
| Open Account Link | Open Account With Zerodha | Open Account With Groww |
- Zerodha vs Groww Brokerage Charges
| Particulars | Zerodha | Groww |
| Equity Delivery | No brokerage | INR 20 per order or 0.05%, whichever is lower |
| Equity Intraday | INR 20 per order or 0.03%, whichever is lower | INR 20 per order or 0.05%, whichever is lower |
| Equity Futures | INR 20 per order or 0.03%, whichever is lower | INR 20 per executed order |
| Equity Options | INR 20 per executed order | INR 20 per executed order |
| Currency Futures | INR 20 per order or 0.03%, whichever is lower | NA |
| Currency Options | INR 20 per executed order | NA |
| Commodity Futures | INR 20 per order or 0.03%, whichever is lower | NA |
| Commodity Options | INR 20 per executed order | NA |
| Call & Trade Charge | INR 50 per executed order | NA |
| Minimum Brokerage | INR 20 or 0.03% in Intraday and F&O trades | INR 20 or 0.05% in Intraday and F&O trades |
| P&L/CMR Charges | INR 20 + INR 100 (courier charge) + 18% GST for subsequent requests | INR 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
| Particulars | Zerodha | Groww |
| Equity Delivery | NSE: 0.00322%| BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00325% | BSE: 0.00375% (Both Buy and Sell) |
| Equity Intraday | NSE: 0.00322%| BSE: 0.00375% (Both Buy & Sell) | NSE: 0.00325% | BSE: 0.00375% (Both Buy and Sell) |
| Equity Futures | NSE: 0.00188%%| BSE: 0 | NSE: 0.0019% | BSE: Zero |
| Equity Options | NSE: 0.0495%| BSE: 0.005 (on premium) | NSE: 0.05% | BSE: 0.0375% (on premium) |
| Currency Futures | NSE: 0.0009%| BSE: 0.0009% | NA |
| Currency Options | NSE: 0.035%| BSE: 0.001% | NA |
| Commodity Futures | Group A – 0.0026% | NA |
| Commodity Options | 0.05% | NA |
- Groww vs Zerodha Other Statutory Charges
| Statutory Charges | Zerodha | Groww |
| STT/CTT Equity Delivery | 0.1% (Both Buy & Sell) | 0.1% (Both Buy & Sell) |
| STT/CTT Equity Intraday | 0.025% on the sell side | 0.025% on the sell side |
| STT/CTT Equity Futures | 0.0125% on the sell side | 0.0125% on sell-side |
| STT/CTT Equity Options | 0.0625% on the sell side (on premium) | 0.0625% on the sell side (on premium) |
| STT/CTT Currency Futures & Options | No STT | No |
| STT/CTT Commodity Futures | 0.01% on sell side (Non-Agri) | No |
| STT/CTT Commodity Options | 0.05% on sell side | No |
| SEBI Turnover Charges | INR 10/crore | INR 10/crore (0.0001%) |
| GST | 18% | 18% |
| Stamp Equity Delivery | 0.015% or INR 1500/crore on buy-side | 0.015% or INR 1500/crore on buy-side |
| Stamp Equity Intraday | 0.003% or INR 300/crore on buy-side | 0.003% or INR 300/crore on buy-side |
| Stamp Equity Futures | 0.002% or INR 200/crore on buy-side | 0.002% or INR 200/crore on buy-side |
| Stamp Equity Options | 0.003% or INR 300/crore on buy-side | 0.003% or INR 300/crore on buy-side |
| Stamp Currency Futures | 0.0001% or INR 10/crore on buy-side | NA |
| Stamp Currency Options | 0.0001% or INR 10/crore on buy-side | NA |
| Stamp Commodity Futures | 0.002% or INR 200/crore on buy-side | NA |
| Stamp Commodity Options | 0.003% or INR 300/crore on buy-side | NA |
| DP (Depository participant) Charges | INR 13.5 per scrip | INR 13.5 per company only on Sell |
| Pledging Charges | INR 30 per scrip | INR 0 for Pledge Order, INR 20 ISIN per Request for Unpledge Order |
| Auto Square off Charges | INR 50 per executed order | INR 50 per executed order |
| API Subscription Charges | INR 2,000 per app each month | Zero |
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.
| Segment | Zerodha | Groww |
| Equity Delivery | 100% of trade value (1x leverage) | 100% of trade value (1x leverage) |
| Equity Intraday | Upto 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
| Feature | Zerodha | Groww |
| 3 in 1 Account | No | No |
| Charting | Yes | Yes |
| Trading Platform | Kite Web Kite Mobile for Android/iOS and Coin | Groww web, Groww Mobile for Android |
| SMS Alerts | No | Yes |
| Online Demo | Yes | Yes |
| Online Portfolio | No | Yes |
| Margin Trading Funding Available | No | No |
| Margin Against Shares (Equity Cash) | Yes | No |
| Margin Against Shares (Equity F&O) | Yes | No |
| Intraday Square-off Time | 3:15 PM | 3:10 PM |
| Other Features | Direct Mutual Funds, APIs for Algo Trading | – |
Also Read: Fyers Brokerage Calculator
Zerodha vs Groww – Active Clients and Complaints
| Particulars | Zerodha | Groww |
| Number of Active Clients | 7,287,148 | 9,538,609 |
| Market Share | 17.88% | 23.40% |
| Number of Complaints | 567 | 834 |
Groww vs Zerodha – Pros and Cons
| Zerodha | Groww | |
| 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.
