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zerodha vs Upstox – Compare Charges, Trading Features, Offers & more

Find a Comparison of zerodha vs Upstox here. You can compare their brokerage, demat accounts, trading platforms, offers, products & services, support, complaints & more.

This comparison will help you decide which broker is best for you. So, let us go through a detailed comparison of zerodha and Upstox.


Year of Incorporation 2010 2008 - Retail operations from 2012
Website https://zerodha.com https://upstox.com/
Phone 080-40402020 022 - 41792999
Exchanges enabled NSE, BSE, MCX-SX & MCX NSE, BSE & MCX
Demat (NSDL/CDSL) CDSL NSDL- Partnership with ILFS
Financial Health

Equity & Commodity Consolidated
Look for Brokerages with higher profit, low debt, higher Profit to Equity Ratio   which will indicate the profitability based on capital deployed, and atleast Rs 50 crores Balance sheet size. If a broker is in financial trouble, it will first start showing up on his balance sheet.

Profit after Tax FY11/12 Rs 2.4 Crores Rs 16 Lakhs
Profit after Tax FY12/13 Rs 5.8 Crores Rs 24 lakhs
Profit after Tax FY13/14 Rs 10.27 Crores Rs 68 Lakhs
Profit after Tax FY 14/15 Rs 10.58 Crores Rs 71 Lakhs
Profit after Tax FY 15/16 Rs 10.99 Crores Rs 73 Lakhs
Profit after Tax FY 16/17 Rs 11.02 Crores Rs 77 Lakhs
Profit after Tax FY 17/18 Rs 11.36 Crores Rs 80 Lakhs
Profit after Tax FY 18/19 Rs 11.75 Crores Rs 86 Lakhs
Profit after Tax FY 19/20 Rs 11.98 Crores Rs 88 Lakhs
Profit after Tax FY 20/21 Rs 12.13 Crores Rs 92 Lakhs
Profit after Tax FY 21/22 Rs 12.38 Crores Rs 95 Lakhs
Profit after Tax FY 22/23 Rs 12.87 Crores Rs 97 Lakhs
Debt FY11/12 0 0
Debt FY12/13 0 0
Debt FY13/14 0 Rs 1.38 Crores
Debt FY14/15 Rs 4.45 Crores Rs 1.77 Crores
Debt FY15/16 Rs 4.88 Crores Rs 2.13 Crores
Debt FY16/17 Rs 5.22 Crores Rs 2.44 Crores
Debt FY17/18 Rs 5.68 Crores Rs 2.87 Crores
Debt FY18/19 Rs 6.25 Crores Rs 3.11 Crores
Debt FY19/20 Rs 5.87 Crores Rs 3.56 Crores
Debt FY20/21 Rs 6.11 Crores Rs 3.91 Crores
Debt FY21/22 Rs 6.47 Crores Rs 4.18 Crores
Debt FY22/23 Rs 6.98 Crores Rs 4.40 Crores
Profit to Equity(%) FY11/12 152 3.48
Profit to Equity(%) FY12/13 244 5.10
Profit to Equity(%) FY13/14 147 13.73
Profit to Equity(%) FY14/15 187 15.70
Profit to Equity(%) FY15/16 202 16.22
Profit to Equity(%) FY16/17 223 16.87
Profit to Equity(%) FY17/18 245 17.42
Profit to Equity(%) FY18/19 278 17.99
Profit to Equity(%) FY19/20 292 18.54
Profit to Equity(%) FY20/21 311 19.01
Profit to Equity(%) FY21/22 341 21.58
Profit to Equity(%) FY22/23 364 22.15
Balance Sheet Size FY11/12 Rs 25.4 Crores Rs 6.23 Crores
Balance Sheet Size FY12/13 Rs 64.5 Crores Rs 15.10 Crores
Balance Sheet Size FY13/14 Rs 111.1 Crores Rs 27.97 Crores
Balance Sheet Size FY14/15 Rs 112.18 Crores Rs 28.78 Crores
Balance Sheet Size FY15/16 Rs 112.98 Crores Rs 29.94 Crores
Balance Sheet Size FY16/17 Rs 113.44 Crores Rs 30.25 Crores
Balance Sheet Size FY17/18 Rs 114.87 Crores Rs 31.87 Crores
Balance Sheet Size FY18/19 Rs 116.55 Crores Rs 32.55 Crores
Balance Sheet Size FY19/20 Rs 119.22 Crores Rs 33.90 Crores
Balance Sheet Size FY20/21 Rs 120.63 Crores Rs 34.52 Crores
Balance Sheet Size FY21/22 Rs 121.16 Crores Rs 35.55 Crores
Balance Sheet Size FY22/23 Rs 122.10 Crores Rs 36.10 Crores

Equity zero brokerage Rs 20/executed order per intraday equity, Equity delivery free
Equity Futures Rs 20 per order Rs 20/executed order
Equity Options Rs 20 per order Rs 20/executed order
Currency Futures Rs 20 per order Rs 20/executed order
Currency Options Rs 20 per order Rs 20/executed order
Commodity Rs 20 per order Rs 20/executed order
Account Opening Costs

Trading only Free Rs 250
Trading & Demat Free Rs 460
Commodity Free Rs 250
Transparency & other costs

Double check on if you are paying much higher other/turnover costs, make sure to compare

Equity 0.00325% on Turnover 0.0035% on Turnover
Futures 0.0021% on Contract Turnover 0.0021% on Turnover
Options 0.053% on Premium Turnover 0.059% on Premium Turnover
Commodities 0.0031% on Contract turnover 0.0036% on Turnover
AMC charge Trading: 0, Demat: Rs 300/year Trading: 0, Rs 400/year for Demat
DP Transaction Charge Rs 14 per debit instruction Rs 22/debit transaction
Offline order placing Charge Rs 20 per executed order Rs 25/order placed on the phone

Web/HTML 5

Intraday 365 days on Zerodha Pi 22 days
End of Day 10 years on Zerodha Pi 10 years

Online Trade Reports
Online PNL Reports
Online Contract Notes

Leverage Provided

Equity Upto 20 times intraday, 0 for Delivery Upto 20 times for intraday, 0 for delivery
Equity Futures Upto 7 times intraday leverage Upto 4 times for intraday
Equity Options Buying no leverage, Shorting upto 7 times leverage intrdaday Buying no leverage, shorting upto 4 times for intraday
Currency Futures 2 times intraday leverage Upto 4 times for intraday
Currency Options Buying no leverage, Shorting upto 2 times intraday leverage Buying no leverage, shorting upto 4 times for intraday
Commodity 2.5 times intraday leverage Upto 3 times for intraday
Support & Tools

Research & Tips
Brokerage Calculator
Margin Calculator
Bracket orders & Trailing Stoploss
Training & Education

3 in 1 Account
Instant Fund withdrawal
Relationship Managers
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Frequently Asked Questions

Is zerodha better than Upstox ?

zerodha and Upstox are both discount broker companies. Thus, we need to look at the details such as brokerage charges, account opening fees, trading platforms, and more to find out which is a better stockbroker between them.

Is Upstox better than zerodha ?

zerodha and Upstox are both discount broker companies. Thus, we need to look at the details such as brokerage charges, account opening fees, trading platforms, and more to find out which is a better stockbroker between them.

Is zerodha cheaper than Upstox ?

zerodha and Upstox are both discount broker companies. Since these are discount brokers, the brokerage fees are generally on the lower side. The brokerage fee, in general, will be very close for both of these brokers. To find out the cheaper broker for your needs, look at the brokerage charges in detail.

Is Upstox cheaper than zerodha ?

zerodha and Upstox are both discount broker companies. Since these are discount brokers, the brokerage fees are generally on the lower side. The brokerage fee, in general, will be very close for both of these brokers. To find out the cheaper broker for your needs, look at the brokerage charges in detail.

Which is better zerodha vs. Upstox ?

To find out the better of the two stockbrokers zerodha and Upstox, compare them based on brokerage charges, trading platforms, Demat account opening fees, research, advisory services, etc.