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 or 0.05%, whichever is lower, per order, while Groww charges INR 20 or 0.1%, whichever is lower-cost. As of 31 December 31, 2024, Groww has 1,31,58,530 active clients, while Upstox has 28,86,625 active clients. This article compares Groww with Upstox in more detail.
Table of Contents
Company Background
In 2009, Raghu Kumar, Ravi Kumar, and Shrinivas Viswanath established Upstox in Mumbai. It provides trading on the BSE, NSE, and MCX exchanges, just like Zerodha.
Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal—four former Flipkart employees—founded Groww, a financial technology company based in Bengaluru, in 2016. The original objective of the business was to make investing easier and more accessible to everyone.
Upstox or Groww which is better – Active Clients and Market Share
| Particulars | Groww | Upstox |
| Number of Active Clients | 1,31,58,530 | 28,86,625 |
| Market Share | 26.23% | 5.75% |
| Complaints | 1,744 | 612 |
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Upstox Vs Groww Account Opening Charges and AMC
Upstox Vs Groww One Charge
| 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 0.05%, 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 50 per executed order |
| Minimum Brokerage | INR 20 or 0.1% in Equity Intraday, Delivery | INR 20 or 0.05% in Equity Intraday, F&O, Currency & Commodity |
| P&L/CMR Charges | INR 20 + INR 100 (courier charge) + 18% GST for subsequent requests | INR 20 per page |
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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% |
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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 18.5 per scrip per day only on sell |
| Pledging Charges | INR 20 per ISIN, for Pledge/Unpledge Order | INR 20 per scrip |
| Auto Square off Charges | INR 50 per position | INR 50 per executed order |
| API Subscription Charges | Zero | Zero |
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Upstox Vs Groww Features Comparison
| Feature | Groww | Upstox |
| 3 in 1 Account | No | Yes |
| Algo Trading | No | Yes |
| Charting | Yes | Yes |
| Trading Platform | Groww web, Groww Mobile for android | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS, and Algo Lab |
| SMS Alerts | No | Yes |
| Online Demo | No | 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 | 3:15 PM |
| Referral Program | Yes | Yes |
Also Read: Click here for Groww’s Brokerage Calculator
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Groww Vs Upstox – Pros and Cons, best stock broker in India
| Groww | Upstox | |
| Pros | 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 | 1. Zero account opening fee 2. Maximum INR 20 per trade brokerage for all segments including equity delivery 3. Offers direct mutual funds 4. Zero brokerage for Mutual Fund investment 5. One app for trading in equity, currency, and commodity 6. Margin Trading Facility (MTF) is available at an interest rate of INR 20/day for slabs of INR 40,000. 7. Margin Against Share is available 8. Online IPO, FPO, Bonds, and NCD’s are available 9. Good-till-triggered (GTT) orders are available |
| Cons | 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 | 1. Doesn’t offer a 3-in-1 account 2. The Call-and-trade fee is INR 20 per executed order extra 3. Doesn’t offer stock tips or recommendations 4. Automatic settlement charges an additional INR 50 per executed order 5. Doesn’t offer margin funding for delivery trades 6. Doesn’t offer API access for automated trading 7. Doesn’t offer 24/7 customer support 8. Doesn’t offer unlimited trading plans 9. Doesn’t offer NRI Trading and Demat account |
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.