Established in 2009, Upstox is among the original discount brokers in India and while Groww joined the party later, it has evolved as a major power to reckon with. Being discount brokers, none of these brokers offer any stock recommendations, research, or tips to their users. Nevertheless, both stock brokers offer robust trading platforms that help lakhs of investors trade in various segments.
Upstox charges INR 20 per delivery order, while Groww charges INR 20 or 0.1%, whichever is lower. As of 28 February 2025, Groww has 1,30,11,867 active clients, while Upstox has 27,89,896 active clients. This article compares Groww with Upstox in more detail. Groww market share stands at 26.28% while Upstox has a 5.63% market share
Table of Contents
Company Background
Upstox is a Mumbai-based brokerage, It was founded in 2009 by Raghu Kumar, Ravi Kumar, and Shrinivas Viswanath. The company provides trading on the BSE, NSE, and MCX exchanges, just like Zerodha.
Bengaluru-based Groww was founded in 2016 by four ex-Flipkart employees: Harsh Jain, Lalit Keshre, Neeraj Singh, and Ishan Bansal. Groww’s main objective is to provide easier and accessible investing for everyone.
Upstox or Groww Which is Better – Active Clients and Market Share
| Particulars | Groww | Upstox |
| Number of Active Clients | 1,30,11,867 | 27,89,896 |
| Market Share | 26.28% | 5.63% |
| Complaints | 1928 | 690 |
Also Read: All About Unpaid Dividend and How to Claim It
Upstox Vs Groww Account Opening Charges and AMC
| Account Opening and Demat Charges | Groww | Upstox |
| Equity Trading account opening charges | Zero | Zero |
| Commodity Account Opening Charges | N/A | Zero |
| Trading Account AMC Charges | Zero | Zero |
| Demat Account Opening Charges | Zero | Zero |
| Demat Account AMC Charges | Zero | INR 75 + GST (Quarterly) or INR 150 + GST (Annual) |
Upstox Vs Groww Brokerage Charges
| Particulars | Groww | Upstox |
| Equity Delivery | INR 20 per order or 0.1% whichever is lower | INR 20 per executed order |
| Equity Intraday | INR 20 per executed order or 0.1% whichever is lower | INR 20 per order or 0.01%, whichever is lower |
| Equity Futures | INR 20 per executed order | INR 20 per order or 0.05%, whichever is lower |
| Equity Options | INR 20 per executed order | Flat INR 20 per executed order |
| Currency Futures | N/A | INR 20 per order or 0.05%, whichever is lower |
| Currency Options | N/A | INR 20 per executed order |
| Commodity Futures | N/A | INR 20 per order or 0.05%, whichever is lower |
| Commodity Options | N/A | INR 20 per executed order |
| Call & Trade Charge | N/A | INR 75 per executed order |
| Minimum Brokerage | INR 20 or 0.1% in Equity Intraday, Delivery | INR 20 or 0.01% in Equity Intraday |
| P&L/CMR Charges | INR 20 + INR 100 (courier charge) + 18% GST for subsequent requests | INR 10 per page |
Also Read: Zerodha Vs Upstox: Find the best broker in India
Groww Vs Upstox Transaction Charges
| Particulars | Groww | Upstox |
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% (Both Buy and Sell) | NSE: 0.00322% (Both Buy & Sell) |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% (Both Buy and Sell) | NSE: 0.00322% (Both Buy & Sell) |
| Equity Futures | NSE: 0.00173% | BSE: 0 (Both Buy and Sell) | NSE: 0.00188% l BSE: Nil |
| Equity Options | NSE: 0.03503% | BSE: 0.0325% (on premium) | NSE: 0.0495% | BSE: 0.0495% (on premium) |
| Currency Futures | N/A | NSE: 0.00035%| BSE: 0.00045% |
| Currency Options | N/A | NSE: 0.0311%| BSE: 0.001% |
| Commodity Futures | N/A | MCX: 0.0026% |
| Commodity Options | N/A | 0.05% |
Read Also: Innovatus Entertainment SME IPO GMP, Review, Price, Allotment.
Upstox Vs Groww Other Statutory Charges
| Particulars | Groww | Upstox |
| STT/CTT Equity Delivery | 0.1% (Both Buy and Sell) | 0.1% (Both Buy and Sell) |
| STT/CTT Equity Intraday | 0.025% on the Sell Side | 0.025% on the Sell Side |
| STT/CTT Equity Futures | 0.02% on Sell Side | 0.0125% on Sell-side |
| STT/CTT Equity Options | 0.1% on Sell Side (on Premium) | 0.0625% on the Sell side (on premium) |
| STT/CTT Currency Futures & Options | N/A | No STT |
| STT/CTT Commodity Futures | N/A | MCX: 0.01% on the Sell side |
| STT/CTT Commodity Options | N/A | 0.05% on Sell trade |
| SEBI Turnover Charges | INR 10/crore | INR 10/crore |
| GST | 18% | 18% |
| Stamp Equity Delivery | 0.015% or INR 1500/crore on buy-side | 0.015% or INR 1,500/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 & Options | NA | 0.0001% or INR 10/crore on buy-side |
| Stamp Commodity Futures | NA | 0.002% or INR 200/crore on buy-side |
| Stamp Commodity Options | NA | 0.003% or INR 300/crore on buy-side |
| DP (Depository participant) Charges | INR 18.25 per company only on Sell (INR 0 < 100 Debit Value) | INR 20 per scrip |
| Pledging Charges | INR 20 per ISIN, for Pledge/Unpledge Order | INR 20 per scrip |
| Auto Square off Charges | INR 50 per position | INR 75 per executed order |
| API Subscription Charges | INR 499 per month for access to all trading | Zero |
Also read: Top Stock Brokers In India
Upstox Vs Groww Features Comparison
| Feature | Groww | Upstox |
| 3 in 1 Account | No | Yes |
| Algo Trading | Yes | Yes |
| Charting | Yes | Yes |
| Trading Platform | Groww web, Groww Mobile for android | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, and mobile apps for iOS and Android |
| SMS Alerts | Yes | Yes |
| Online Demo | Yes | Yes |
| Online Portfolio | Yes | Yes |
| Margin Trading Funding Available | Yes | Yes |
| Margin Against Shares (Equity Cash) | Yes | Yes |
| Margin Against Shares (Equity F&O) | Yes | Yes |
| Intraday Square-off Time | 3:20 PM | 15:15 |
| Referral Program | Yes | Yes |
Also Read: Click here for Groww’s Brokerage Calculator
Read Also: Concord Biotech IPO Ratings: Brokers Upbeat About Prospects
Groww Vs Upstox – Pros and Cons, best stock broker in India
| Groww | Upstox | |
| Pros | 1. India’s No. 1 broker by number of active clients 2. Zero account opening fee 3. Zero maintenance charges (No Demat AMC) 4. Flat INR 20 per trade brokerage 5. Instant paperless account opening 6. Online IPO application available 7. Direct Mutual Fund platform with potential 1.5% extra returns 8. Free Mutual Fund investments with no hidden fees 9. Educational resources: E-books, blogs, market insights 10. Option to invest in digital gold 11. Trading in SME shares available | 1. Zero account opening fee 2. INR 20 per trade brokerage for Delivery, Intraday, and F&O 3. Zero brokerage for Mutual Fund investments (Direct Plans) 4. Excellent online trading platform (Website and Mobile App) 5. Single app for equity, currency, and commodity trading 6. Margin Trading Facility (MTF) at INR 20/day per INR 40,000 slab 7. Margin Against Share (MAS) is available 8. Online IPOs, FPOs, Bonds, and NCDs supported 9. Good-till-triggered (GTT) orders available 10. Bracket and Cover Orders available |
| Cons | 1. Limited investment products compared to full-service brokers 2. No Call and Trade facility 3. No stock tips, research reports, or investment recommendations 4. SME shares and SME IPOs are not supported 5. No physical branch or offline support (entirely online) 6. Advanced order types like BO, CO, and AMO not available 7. Margin Against Share is available 8. Trailing Stop Loss orders not supported 9. NRI Trading and Demat accounts not offered | 1. Charges an additional INR 50 per executed order for automatic settlement 2. Doesn’t offer 24/7 customer support 3. Doesn’t offer monthly unlimited trading plans 4. Doesn’t offer NRI Trading and Demat account 5. No physical branches or neighborhood offices – fully online 6. No personal relationship manager 7. No research and advisory services 8. Doesn’t offer true GTC (Good Till Cancelled) orders 9. Additional INR 75 charged for Call & Trade orders 10. Additional INR 75 charged for auto square-off of intraday positions |
Conclusion
With new investing platforms and market movements, the stock broking sector is expanding and changing. Investors must search for the most effective and appropriate platform. The benefits and drawbacks of the stock broking business are compiled in our articles. Thus, pick the platform that best suits your objectives and attitude.