Upstox Vs Zerodha Charges

Zerodha and Upstox both are one of the leading discount stock brokers in India. When it comes to services, both keep on upgrading but what about the charges. Is it the same or does one charge more than the other? To compare it here is a detailed review of Upstox vs Zerodha charges.

In this Upstox vs Zerodha review, the comparison of fees is done for:

• Account Opening Charges
• Account Maintenance Charges
• Brokerage charges for different segments
• DP Charges

Upstox vs Zerodha Account Opening Charges

The account opening process by both brokers is completely online. Further, when it comes to charges, Zerodha charges account opening fees which further depend on the trading segment.

For equity, Zerodha account opening charges are ₹200, and for commodity accounts, one has to pay an additional ₹100 to open and activate the account.

On the other hand, Upstox does not charge any fees for account opening.

Upstox vs Zerodha Annual Charges

Along with account opening charges, there are maintenance charges that are charged yearly, quarterly or monthly basis. Here Zerodha charges AMC fees on a quarterly or yearly basis which is equal to ₹75 per quarter or ₹300 per year.

Upstox AMC charges equal to ₹25 per month, thus yearly AMC fees for both the broker is same.

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Brokerage Charges of Zerodha vs Upstox

Now comes the most important charge, brokerage fees. Both brokers allow you to trade in equity, currency, and commodity segments, and thus the comparison is done for all the segments.

Here, Zerodha brokerage for the delivery segment is zero while Upstox charges 2.5% or ₹20 whichever is lower. So, for the one who is mostly into delivery trading, it is expensive to choose Upstox over Zerodha.

Other than this, the minimum brokerage for intraday in Upstox is also higher where the broker charges 0.05% while Zerodha charges 0.03% of the turnover value, however, the upper cap is the same i.e. ₹20.

So, if you trade in volume intraday, then both brokers stand out to be equal in terms of brokerage.

Let’s understand this difference with the help of an example:

Suppose Mr. A has an account with Zerodha and Mr. B with Upstox. Both executed an intraday trade with a turnover value ₹20,000. 

Here the brokerage charged on Mr. A would be,

Zerodha intraday brokerage charges= 0.03%*20000
=₹6

Brokerage charges levied on Mr. B,

Upstox intraday brokerage charges= 0.05%*20000
=₹10.

Here if  the turnover value would have been ₹2,00,000 then the brokerage calculation will be:

Mr. A= 0.03%*200000
=₹60 

Mr. B= 0.05%*200000
=100

Since in both cases, the broker is more than the upper limit hence both the traders will pay ₹40 (₹20 on each side) as brokerage fees. 

Similarly, brokerage for other segments differs in terms of minimum value. Here are the summarized charges detailed in the table below:

 

Along with these charges, there are taxes and other fees which are the same for both brokers. You can check and calculate the fees using Zerodha brokerage calculator and Upstox brokerage calculator.

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Upstox vs Zerodha DP Charges

Last but not the least, DP charges, are mostly kept hidden as it is not mentioned on the contract note. These charges are charged on delivery trades on executing a sell order.

Upstox DP charges are ₹18.50. On the other hand, DP charges in Zerodha are ₹13.50 per scrip.

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Conclusion

The above comparison of Upstox vs Zerodha charges will help you in choosing the right broker in terms of brokerage. However, to make a final decision one must compare other features and services too.

Here depending on the trading style, you can choose the one that suits you the most.

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