Upstox Vs Groww: Stock Broker Comparison


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.

The brokerage of Groww is INR 20 per order or 0.05% whichever is lower while Upstox charges INR 20 or 2.5% whichever is lower per order. The number of active clients for Groww is 9,538,609 as of March 2024, whereas the number of active clients for Upstox stood at 2,516,647. Upstox vs Groww is compared in this article in greater depth.

Upstox Vs Groww Stock Broker Active Clints March 2024

Company Background

Upstox was founded in 2009 in Mumbai by Raghu Kumar, Ravi Kumar, and Shrinivas Viswanath. Like Zerodha, it also offers trading in BSE, NSE, and MCX exchanges.

Groww is a Bengaluru-based financial technology company that was founded in 2016 by four former Flipkart employees – Lalit Keshre, Harsh Jain, Neeraj Singh, and Ishan Bansal. The company started with a vision to simplify the investment process and make it accessible to the masses.

Also Read: All About Unpaid Dividend and How to Claim It

  • Upstox Vs Groww Account Opening Charges and AMC

Upstox Vs Groww One Charge

Account Opening
and Demat Charges
Equity Trading account opening chargesZeroZero
Commodity Account Opening ChargesN/AZero
Trading Account AMC ChargesZeroZero
Demat Account Opening ChargesZeroZero
Demat Account AMC ChargesZeroINR 75 + GST (Quarterly) or INR 150 + GST (Annual)
  • Upstox Vs Groww Brokerage Charges
Equity DeliveryINR 20 per order (or 0.05% whichever is lower)INR 20 per order or 2.5%, whichever is lower
Equity IntradayINR 20 per executed order (or 0.05% whichever is lower)INR 20 per order or 0.05%, whichever is lower
Equity FuturesINR 20 per executed orderINR 20 per order or 0.05%, whichever is lower
Equity OptionsINR 20 per executed orderINR 20 per executed order
Currency FuturesN/AINR 20 per order or 0.05%, whichever is lower
Currency OptionsN/AINR 20 per executed order
N/AINR 20 per order or 0.05%, whichever is lower
N/AINR 20 per executed order
Call & Trade ChargeN/AINR 20 per executed order
Minimum BrokerageINR 20 or 0.05% in Intraday and F&O trades0.05%
P&L/CMR ChargesINR 20 + INR 100 (courier charge) + 18% GST for subsequent requestsINR 20 per page
Open AccountOpen your demat account with GrowwOpen Account With Upstox

Also Read: Zerodha Vs Upstox: Find the best broker in India

  • Groww Vs Upstox Transaction Charges
Equity Delivery NSE: 0.00325% | BSE: 0.00375%
(Both Buy and Sell)
NSE: 0.00322% (Both Buy & Sell)
Equity IntradayNSE: 0.00325% | BSE: 0.00375%
(Both Buy and Sell)
NSE: 0.00322% (Both Buy & Sell)
Equity FuturesNSE: 0.0019% | BSE: ZeroNSE: 0.00188% (Both Buy & Sell)
Equity OptionsNSE: 0.05% | BSE: 0.0375%
(on premium)
NSE: 0.0495% | BSE: 0.0375% (on premium)
Currency FuturesN/ANSE: 0.0009%| BSE: 0.00022%
Currency OptionsN/ANSE: 0.035%| BSE: 0.001%
Commodity FuturesN/AMCX: 0.0026
Commodity OptionsN/A0.05%

Read Also: Innovatus Entertainment SME IPO GMP, Review, Price, Allotment.

  • Upstox Vs Groww Other Statutory Charges
STT/CTT Equity Delivery0.1% (Both Buy and Sell)0.1% (Both Buy and Sell)
STT/CTT Equity Intraday 0.025% on the Sell Side0.025% on the Sell Side
STT/CTT Equity Futures 0.0125% on Sell Side0.0125% on Sell-side
STT/CTT Equity Options0.0625% on Sell Side (on Premium)0.0625% on the Sell side (on premium)
STT/CTT Currency Futures & OptionsNoNo
STT/CTT Commodity FuturesNoMCX: 0.01% on the Sell side
STT/CTT Commodity OptionsNo0.05% on Sell side
SEBI Turnover ChargesINR 10/crore (0.0001%)INR 10/crore
Stamp Equity Delivery 0.015% or INR 1500/crore on buy-side0.015% or INR 1,500/crore on buy-side
Stamp Equity Intraday0.003% or INR 300/crore on buy-side0.003% or INR 300/crore on buy-side
Stamp Equity Futures0.002% 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 Futures & OptionsNA0.0001% or INR 10/crore on buy-side
Stamp Commodity FuturesNA0.002% or INR 200/crore on buy-side
Stamp Commodity OptionsNA0.003% or INR 300/crore on buy-side
DP (Depository participant) ChargesINR 13.5 per company only on SellINR 18.5 per scrip per day only on sell
Pledging ChargesINR 0 for Pledge Order, INR 20 ISIN per Request for Unpledge OrderINR 20 + GST per scrip
Auto Square off ChargesINR 50 per squared-off positionINR 50 per executed order + 18% GST
API Subscription ChargesZeroFree

Also read: Top Stock Brokers In India

  • Upstox Vs Groww Features Comparison
3 in 1 AccountNoNo
Algo TradingNoYes
Trading PlatformGroww web, Groww Mobile for androidUpstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS, and Algo Lab
SMS AlertsYesNo
Online DemoYesYes
Online PortfolioYesNo
Margin Trading Funding AvailableNoYes
Margin Against Shares (Equity Cash)NoNo
Margin Against Shares (Equity F&O)NoYes
Intraday Square-off Time3:10 PM3:00 PM
Referral ProgramYesYes

Also Read: Click here for Groww’s Brokerage Calculator

Upstox Vs Groww – Active Clients and Market Share

Number of Active Clients9,538,6092,516,647
Market Share23.40%6.17%
Groww Vs Upstox

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Groww Vs Upstox – Pros and Cons, best stock broker in India

Pros1. 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
Cons1. 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
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


The stock broking industry is booming and evolving with new market trends and investing platforms. Investors need to look for the right platform and the most efficient one. Our articles help summarize the pros and cons of the stock broking industry. Therefore, choose the platform that aligns with your goals and mindset.

Open Your Demat Account with: Zerodha, Angel One, 5 Paisa, Upstox, and Groww


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