In 2025, when people think of opening their first trading or investment account, the biggest question is Zerodha vs Upstox: Who is the better discount broker?
Both the platforms are registered with SEBI and are being used by millions of active users. In the table given below, you can see the basic information of both these brokers at a glance.
Zerodha vs Upstox Company Profile
| Comparison Point | Zerodha | Upstox |
| Year of Establishment | 2010 | 2010 |
| Headquarters | Bengaluru | Mumbai |
| Active Clients (2025) | 1.6 crore + | 1.3 crore + |
| Regulatory Registration | Registered with SEBI, NSE, BSE, and CDSL | Registered with SEBI, NSE, BSE, and CDSL |
| Brokerage Model | Discount Brokerage | Discount Brokerage |
| Mobile App Rating | 4.0★ (Google Play Store) | 4.4★ (Google Play Store) |
| USP (Unique Selling Point) | Simple platform + reliable infrastructure | Smart UI + advanced trading tools |
Account Opening Process
Opening an account on both platforms is completely online and paperless. You just need to keep your Aadhaar, PAN and bank details ready. See below the key points related to opening an account with both brokers:
Zerodha vs Upstox Account Opening Comparison
| Point of Comparison | Zerodha | Upstox |
| Account Opening Fee | ₹0 (Trading + Demat, no charges) | ₹0 (Free Trading + Demat), first year AMC is also ₹0 |
| Demat AMC | ₹300/year + GST (charged quarterly) | ₹150/year (CDSL), first year free |
| Process Type | 100% Paperless, Aadhaar e-sign, IPV video verification | 100% Online, Aadhaar OTP e-sign, selfie KYC via DigiLocker |
| Time to Activate | Within a few hours to 24 hours in most cases | Typically 15–30 minutes after e-KYC completion |
| Documents Required | PAN, Aadhaar, Bank Proof, Cancelled Cheque, Selfie (IPV) | PAN, Aadhaar (via DigiLocker), Bank details, Selfie KYC |
Brokerage Charges Comparison
Brokerage charges matter the most when trading. Let’s look at the fees structure of Zerodha vs Upstox in 2025:
Zerodha vs Upstox – Brokerage charges
| Segment | Zerodha | Upstox |
| Equity Intraday | ₹20 per executed order or 0.1% (whichever is lower) | ₹20 per executed order or 0.1% (whichever is lower) |
| Equity Delivery | Zero Brokerage | ₹20 per executed order |
| Equity Futures | 0.03% or Rs. 20/executed order whichever is lower | ₹20 per executed order or 0.05% (whichever is lower) |
| Equity Options | Flat Rs. 20 per executed order | Flat ₹20 per executed order. |
| Currency Futures | 0.03% or ₹ 20/executed order whichever is lower | ₹20 per executed order or 0.05%(whichever is lower) |
| Currency Options | ₹ 20/executed order | Flat ₹20 per executed order. |
| Commodity Futures | 0.03% or Rs. 20/executed order whichever is lower | ₹20 per executed order or 0.05% (whichever is lower). |
| Commodity Options | ₹ 20/executed order | Flat ₹20 per executed order. |
Platform UI/UX Comparison – Zerodha vs Upstox
Both Zerodha Kite and Upstox Pro are user-friendly platforms but there is a slight difference in their UI/UX.
Zerodha Kite (Web & Mobile)
- Speed & Performance : Users have long acknowledged that Kite is extremely fast order execution is quick and charting tools are responsive.
- Clean Interface : Interface is simple and clutter-free. TradingView / ChartIQ charts support is available, making technical analysis easy.
- Multi-language Support : Available in both Hindi and English special benefits for retail investors .
- Cons : Some users have complained about delays in customer support.
Upstox Pro (Web & Mobile)
- Modern & Vibrant UI: Upstox user community says best UI with soothing color themes and slick design like strategy builder.
- Advanced Charts : TradingView + ChartIQ charts are available on both web and mobile.
- Mobile-first experience : The entire trading journey happens in the app from signup to order execution which mobile users love
- Cons : Some users have reported a bug in watchlist sorting, which has not been fixed yet due to repetitive complaints.
Investment Options Zerodha vs Upstox?
| Investment Segment | Zerodha | Upstox |
| Equity (Stocks) | Stocks available for trading on NSE/BSE | Stocks available for trading on NSE/BSE |
| F&O, Currency & Commodities | Equity, Currency, Commodity derivatives available for direct trading | Equity, Currency, Commodity derivatives available for direct trading |
| Mutual Funds | 2,000+ direct MFs via Coin; both SIP and lump sum supported | Direct mutual funds support; SIP investment facility |
| IPOs | Facility to apply for IPO on Kite/Console | In-app IPO dashboard Apply, track and status everything |
| ETFs & Bonds | Sovereign Gold Bonds, Govt. bonds, ETFs via Coin | ETFs and bonds available |
Mutual Fund Support – Zerodha vs Upstox
| Feature | Zerodha (Coin) | Upstox MF Platform |
| Commission/Fees | 0% commission on direct mutual funds; no brokerage charges | No brokerage on direct MFs |
| Fund Choices | 2000+ direct mutual funds, ETFs, Govt bonds via Coin | Wide range of direct MFs across equity, debt, hybrid categories |
| SIP Support | Yes systematic investment plans | Yes systematic investment plans |
| Tracking & Reporting | Kite updated to show MF holdings; Console analytics dashboard | MF dashboard shows NAV, returns; lacks auto analytics |
| Cut-off Timing & NAV | T-day T+2 NAV rules; SIP cutoff 2 days prior | Standard NAV processing; redemption timelines delay 2–3 days |
| Unique Features | Integrated with trading; easy lumpsum/SIP via Coin and Kite | basic UI from unit level |
Tools & Research Features – Zerodha vs Upstox?
| Feature / Tool | Zerodha | Upstox |
| Personal API | Free for orders, portfolio, GTT; market data extra-cost | Full trading & data APIs free |
| Historical Data | Included in Kite Connect ₹0 extra | Available via API without extra charge |
| Order Slicing & Option Chain | Auto-slicing + advanced chain metrics (PCR, IV, Max Pain) | Provides depth insights, no auto-slicing |
| Market Depth Data | Standard | Upgraded Market Feed V3 (depth 30 WebSocket) |
| API Ecosystem | Supported by third-party tools (Streak, Sensibull, etc.) | Includes Smartlists, GTT, MTF via API |
Customer Support & Experience
| Parameters | Zerodha | Upstox |
| Support Channels | Ticket, Email, Forums, Blog, Varsity | In‑app Chat, Email, Call, Help Center |
| Response Time | Usually 24–48 hours | Varies; slow response at peak hours |
| User Liking | Tech-savvy users are supportive, stable system | Basic support convenient but inconsistent |
| Education/learn resources | Varsity, Q&A blog, active community | Help Center tutorials, blog, but limited detail |
Conclusion
In the Zerodha vs Upstox comparison, both brokers come with their own strengths. Zerodha is better in low-cost trading, API access and learning resources, while Upstox excels with modern UI, fast execution and free trading APIs. Investors should choose based on their needs, trading style and convenience.
Q1. Which is better – Zerodha or Upstox for beginners?
Both are good for beginners, but Zerodha’s Varsity is easier to learn.
Q2. Does Zerodha offer free account opening?
Yes, Zerodha now offers account opening at absolutely ₹0
Q3. Is Upstox good for intraday trading?
Yes, Upstox’s UI and chart speed is quite good for intraday traders.
Q4. Can I invest in mutual funds through both platforms?
Both direct mutual funds have the facility of SIP and lumpsum investment.
Q5. Which broker offers a better API for algo trading?
Zerodha’s Kite Connect and Upstox’s Trading API – Both are good.
