Looking for the best online trading platform? Read on to discover a comprehensive comparison between two of the most popular options: Zerodha and Upstox.
Zerodha and Upstox are two of the most popular discount brokers in India. In this article, we will compare the two platforms on various parameters to help you make an informed decision.
Zerodha vs Upstox:
Zerodha and Upstox are both online discount brokers that offer trading opportunities at unbeatable prices. Zerodha is India’s No. 1 stockbroker, while Upstox is a tech-first low-cost broking firm in India. Both platforms offer a wide range of products and services, including mutual funds and insurance.
Pros and Cons:
Zerodha:
Pros:
- More customizable platform than Upstox.
- Offers a range of customization options like creating multiple watchlists, setting up alerts, and customizing the layout of the platform.
- Offers a more advanced charting tool like Renko charts, Heikin Ashi charts, etc.
- Offers more advanced order types like bracket orders, cover orders, and after-market orders.
- Offers algo trading services.
- Charges Rs 0 brokerage for equity delivery trades and direct mutual funds.
- Charges flat Rs 20 or 0.03% (whichever is lower) per trade for intraday and Futures trades.
- Charges Flat Rs. 20 per executed order for Options trades.
Cons:
- Charges Rs 300 Demat Account AMC Charges.
Upstox:
Pros:
- User-friendly platform.
- Offers Smart Order Routing feature.
- Offers AlgoLab feature.
- Charges Rs 0 Trading Account AMC Charges.
- Charges Rs 0 Demat Account Opening Charges.
Cons:
- Charges Rs 150 Demat Account AMC Charges.
- Charges Rs 20 per executed order or 2.5% whichever is low for equity trades.
- Charges Rs 20 per executed order or 0.05% whichever is lower per trade for intraday trades in Futures & Options (F&O).
User Experience and Interface:
When it comes to user experience and interface, both Zerodha and Upstox offer intuitive and user-friendly platforms. However, Zerodha’s platform is more customizable than Upstox’s platform. Zerodha offers a range of customization options, including the ability to create multiple watchlists, set up alerts, and customize the layout of the platform. Upstox’s platform is also user-friendly but lacks some of the customization options that Zerodha offers.
Both platforms offer mobile apps for trading. Zerodha’s mobile app is called Kite, while Upstox’s mobile app is called Upstox Pro. Both apps are available for Android and iOS devices. In terms of user experience, both apps are easy to use and offer similar features.
Trading Features and Tools:
Zerodha vs Upstox offer a range of trading features and tools to their users. Both platforms offer a variety of order types, including limit orders, market orders, stop-loss orders, and more. However, Zerodha offers more advanced order types like bracket orders, cover orders, and after-market orders.
In terms of execution speed, both platforms are quite fast. However, Zerodha has an edge over Upstox when it comes to execution speed.
READ ALSO: 5 Tips for Effective Business Writing: From Emails to Proposals
When it comes to technical analysis and charting tools, both platforms offer similar features. However, Zerodha offers more advanced charting tools like Renko charts, Heikin Ashi charts, and more.
Pricing and Brokerage:
Zerodha vs Upstox: Both Zerodha and Upstox offer competitive pricing structures. Zerodha charges Rs 0 brokerage for equity delivery trades and direct mutual funds. For intraday and Futures, it charges flat Rs 20 or 0.03% (whichever is lower) per trade. For Options trades, it charges Flat Rs. 20 per executed order¹. On the other hand, Upstox charges Rs 20 per executed order or 2.5% whichever is low for equity trades¹. For intraday trades in Futures & Options (F&O), it charges Rs 20 per executed order or 0.05% (whichever is lower) per trade¹.
Account Types and Services:
Both platforms offer a range of trading accounts like Demat accounts, trading accounts or commodity accounts¹. Users can invest in IPOs through both platforms¹. Both platforms also offer margin trading services¹. However, only Zerodha offers algo trading services¹.
Market Coverage and Asset Classes:
Both platforms provide access to a broad range of asset classes like equities, commodities, derivatives, currency etc.¹. However, Zerodha provides access to international markets while Upstox does not¹.
Customer Support and Education:
Both platforms provide customer support through email or phone calls. However, Zerodha provides better customer support quality than Upstox². Both platforms provide educational resources like webinars or tutorials¹. Additionally, both platforms have community forums or help centers for users to seek assistance¹.
Account Opening and Maintenance:
The account opening process for both platforms is quite similar¹. Users need to submit their KYC documents online to open an account with either platform¹. However, there are some differences in documentation requirements between the two platforms.
Zerodha vs Upstox take the security of their users’ personal and financial information very seriously. Both platforms use advanced encryption technologies to protect user data from unauthorized access and cyber threats. They also follow strict security protocols to ensure that user data is not compromised.
Security and Regulations:
Zerodha is regulated by the Securities and Exchange Board of India (SEBI) and is a member of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), Multi Commodity Exchange (MCX), and Central Depository Services Limited (CDSL). Upstox is also regulated by SEBI and is a member of the NSE, BSE, and MCX.
Regulation by SEBI ensures that both platforms follow strict guidelines and rules to protect the interests of investors. It also helps build trust among users who can be assured that their investments are safe and secure.
When it comes to customer feedback and reviews, both Zerodha vs Upstox have received positive reviews from users. Users have praised both platforms for their user-friendly interfaces, low brokerage fees, and excellent customer support. However, some users have criticized both platforms for occasional technical glitches.
Both Zerodha and Upstox are constantly innovating to stay competitive in the market. Zerodha has introduced several new features in recent years, including Kite Connect API, Sentinel, and Console. Upstox has also introduced several new features like Smart Order Routing, AlgoLab, and more.
Conclusion:
Zerodha vs Upstox: Zerodha and Upstox are both excellent discount brokers that offer a wide range of products and services at unbeatable prices. When it comes to user experience and interface customization options, Zerodha has an edge over Upstox. When it comes to execution speed and advanced order types like bracket orders or cover orders, Zerodha is the clear winner.
However, when it comes to pricing structures for equity trades or intraday trades in F&O contracts or customer support quality or educational resources or community forums or help centers for users to seek assistance or documentation requirements for account opening process etc., there are some differences between the two platforms that users should be aware of before making a decision.
Overall, both platforms have their strengths and weaknesses. Users should choose the platform that best suits their needs based on their preferences.