Groww vs Upstox, both are discount brokers offering advanced trading platforms and services to their clients. But when it comes to choosing the one, which broker offers better service.

Well! such confusion and questions arise among every beginner trader who is willing to start their journey in the stock market.

Are you stuck in a similar situation?

If yes, then here are few parameters that you should consider to do a better comparison and to choose the stockbroker that can offer you more benefits in terms of charges, products & services.

So, without any delay, let us begin the comparison. 

Difference Between Groww and Upstox

Something new is always trending and seems to be better. Right? But when it comes to the stock market, do you think that one should always trust the new stockbroker.

Don’t you think, it could be risky?

Considering this fact in terms of the context of Groww vs Upstox, it is good to consider the reliability and sustainability of the stockbroker.

Upstox came into existence in 2011, whereas Groww was established in 2016.  They both were established 5 years apart but have managed to garner the trust of clients equally. 

These both are funded stockbrokers and although the revenue of Upstox was more than Groww but the fact that they both are a loss-making company doesn’t let only one sink.


The one basic difference between the two stockbrokers is that Groww is not registered with MCX or NCDEX. This means that if you have a Groww demat account, you cannot trade in the commodity segment. But if you have an account with Upstox, you can easily trade in the equity as well as the commodity segment. 

Both Upstox and Groww are discount brokers that make it although more difficult to choose one. They both only have an online presence so if you want to visit a branch physically, you can’t dot that. 

So, this is an added advantage when using Upstox. When we look at the number of clients, Upstox has comparatively built a larger client base. 

 

It is also very important that we keep an eye on the customer satisfaction level as well. This can be determined by looking at the number of complaints received and resolved by the broker. The details of the same are given below. 


There are several other factors that one should keep in mind before choosing the right stockbroker. Let us look at some of those factors. Looking at the above data Upstox has received more complaints than Groww, making Groww a clear winner in this criteria. Not only were there fewer complaints against Groww but also the resolved percentage is 100 percent. 

Groww vs Upstox Charges

So, whenever you are opening a Demat account with a stockbroker, it is important that you look at the charges as well. In the upcoming sections we will talk about, 

  • Account opening charges 
  • Account Maintenance charges 
  • Brokerage charges 
  • DP charges

There are various charges levied by the stockbrokers and keeping a close eye on all of them can help you in picking the right one according to your budget as well. 

Starting from the account opening charges, a lot of brokers charge something from their clients for opening a Demat account. But in the case of Upstox and Groww, the account opening charges are zero. This means that opening an account with either of the stockbrokers will cost you nothing. 


The AMC charges of Upstox are ₹25+GST every month, whereas there are no Groww AMC charges. This means that you can enjoy the Groww Demat account at absolutely no cost. 

Apart from the opening charges, there are some Account maintenance charges as well. These are levied by the stockbrokers on your Demat account for maintaining it. There are various brokers that charge it annually, whereas some of the stockbrokers do that monthly.

Groww vs Upstox Brokerage Charges

Brokerage charges are the most important ones when it comes to the stock market. It is very important for every trader that the brokerage charges are less whereas the benefits on the same are maximum. 

So, to clear any confusion regarding the charges, the Upstox brokerage charges and Groww brokerage charges are given below.


Let us take the example of delivery trading. So the delivery trading charges in Upstox are ₹20 0r 2.5%, whereas in the case of Groww it is ₹20 or 0.05%. Further taking an example, let us assume that Anandita and Atishay did a trade of ₹500 per person.

Anandita used Upstox, whereas Atishay used Groww. Now if we look at the charges, we will see a pattern. The maximum charges or the flat price of both the brokers is ₹20. So when looking from a distance it might look the same, but the minimum charges are different of both the brokers. 

Let us now calculate the brokerages. 

Anandita(Upstox)- 2.5% of 500 = ₹12.5 

Atishay(Groww)- 0.05% of ₹500= ₹0.25

So, now if we look at this example, the lowest brokerage on the same trade has differed in both the brokers. In this case, Groww has a better brokerage plan than Upstox. 

So, it is very important that you check the minimum brokerage along with the maximum brokerage as well, especially if you are a small trader. 

Groww vs Upstox DP Charges

There are other charges than brokerage charges as well like DP charges. These are also known as hidden charges because they are not prominent in the contract note but are levied on your trades by your depository participants. 

 

Clearly, the DP charges of Upstox are more than those of Groww. So if you are selling a single scrip a day then you will be charged ₹13.5 in Groww, whereas in Upstox you will have to pay ₹18.50. 

Groww vs Upstox Account Features

Once you start the process of opening an account, it is also very important that you pay closer attention to the features as well. There are various account features that we will look at in this segment so that you can make an active decision on which stock broker to choose. 

 

Now, this is a tough fight as both the brokers are neck to neck in this particular segment. The best part is that they both have a guest login. So before selecting the one you can actually go through the app and check the features before opening an account. 

Groww vs Upstox Trading Platforms 

Trading platforms play an important role in your trading journey. The effectiveness, user interface, and availability of the trading platforms attract a lot of clients. The trading platforms of Upstox and Groww are given as follows. 

 

So, the availability of the trading apps is given in the table below. So, Groww has a mobile trading app for ease of trade as it gives you an opportunity to trade at your own convenience and from wherever you want. On the other hand, Upstox has three different trading platforms named Upstox Nest, Upstox Pro, and Upstox Pro Web 3.0.

The terminal is best suited for people who like to multi-task and have the habit of viewing everything on a single screen. Upstox has an added advantage here as it is available for web, mobile, as well as has a terminal along. On the other hand, Groww only gives you the chance to trade from the web and mobile trading apps. 

On top of this, Upstox has around 114 technical indicators and 14 charts to aid your process of effective trading. This number is better than that of Groww so it definitely is a plus point. 

To give you a better idea, we have rated the trading platforms of both Upstox and Groww. In the given table, all the details are summed up. 

 

Groww vs Upstox Algo Trading Platforms 

So, a lot of traders now are shifting towards Algo trading. It is an advanced form of trading and gives advanced traders a chance to move away from their screens while the software does the work. 

It can be used to get the right signals and the right opportunities to trade. It is thus an important aspect to look in a stockbroker if you are also interested in trading using the algo trading platforms. 

Let us have a look at the algo trading platforms of Upstox and Groww. 


So, if a trader is specifically looking for Algo trading platforms, then Groww is not the perfect option. As it is clear from the above table that Groww does not have any algo trading platforms thus is not suitable for traders looking to use that as an opportunity.

On the other hand, Upstox gives its clients the opportunity to practice algo trading as well, with their Amibroker. It is a great platform for charting tools as well as efficient technical analysis. 

Groww vs Upstox Margin 

Margin trading facilities have always had their good share of discussions. The margin which is similar to a bank loan, helios a trader to trade not just with his/her own capital but with the extra amount that is specifically provided by the broker. 

The intraday traders mostly rely a lot on the margin. Therefore, let us have a look at Upstox Margin and Groww margin. 

 


So, with these criteria, it is very difficult to decide which stockbroker can be a better pick for you. Looking at the intraday trading margin, both the brokers are offering 5X leverage, which is the maximum as per the SEBI new margin rules. When we look at the other segments like equity options, the margin again is almost similar with both the brokers. 

Let us also understand with the help of an example, what does trading with 5X margin means? Suppose you have a trading amount of ₹10,000 and you want to purchase stocks of ₹100 each and then sell them at ₹120 each. In this case, the total number of shares that you will be able to purchase are 100, and therefore making a benefit of ₹2000. 

But when you get leverage of 5X, you now have a trading amount of ₹50,000. With this you will now be able to purchase 500 stocks, thus making a profit of, ₹10,000. 

So, margin trading helps you maximize your profits. 

Now that we have had a look at the margins of both the brokers, let us have a look at the product and services provided by the same. 

Groww vs Upstox Products and Services

We have talked about all the basic services that are usually provided by brokers. But apart from these, there are some additional products and services as well. So the details of the extra products and services provided by Groww and Upstox are given in the table below. 


Upstox has a call and trade facility, whereas Groww does not. This makes Upstox a better pick. On top of that, both the stockbrokers have a single brokerage plan leaving you with fewer options.

There are a lot of traders who face difficulty in placing orders due to several issues involving technical glitches or other things. During this time the call and trade facility helps a lot as the trader can simply place a trade over the call. 

Groww vs Upstox Research and Advisory 

For traders, it sometimes becomes important that they are provided with some research and stock trading advice. It is essential for beginners mostly. But as Upstox and Groww both are discount brokers, they do not provide fundamental reports, news alerts, or any free tips. 

So, if you are a beginner then Upstox and Groww are not really suitable if you are looking for research reports as well. 

 

Groww vs Upstox Customer Support

After you open a Demat account with either of the brokers, it is essential to keep an eye on the after services as well. Customer support plays an important role in the selection of the stockbroker. 

The stockbroker should not only have a lesser number of complaints but should also be effective enough to solve them. 

 

Both the brokers give its clients email support, chat support, and toll-free number. So if any customer is facing issues regarding the opening of a demat account or after the opening, you will be given a proper solution. Though as we saw in the table above that the resolution rate of Groww is 100%, which is better than Upstox. 

Groww vs Upstox which is Better 

The question comes down to Groww vs Upstox which is better. Groww is considered a good start for the ones who are just entering the stock market. But the technical analysis and charting tools are better equipped with Upstox. 

We also compared the brokerages of both the brokers, in which the minimal charges of Upstox were more than that of Groww. 

So, both the discount stockbrokers are efficient enough to give their clients a good user experience. A Digital Blogger has given some ratings to both the stockbrokers so that it becomes easier for you to pick the right stockbrokers.

So let’s have a look. 


So, we hope that choosing a stockbroker between Upstox and Groww will not be a problem now. If taken a closer look, Upstox has a little edge as over the years it has gained a lot of clients and trust of the users. 

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