Zerodha vs Upstox: Which Is Better in 2026? Charges, Features & More

Choosing between Zerodha and Upstox can feel like choosing between two popular restaurants when both have a long menu and plenty of fans. The real question is not simply Zerodha vs Upstox. It is which broker fits the way you invest or trade.

Both platforms offer online demat and trading accounts, stocks, mutual funds, IPOs and derivatives. However, their pricing structures, platforms, tools and overall user experience differ in ways that may matter depending on whether you are a beginner, long-term investor or active trader.

In this Zerodha vs Upstox comparison, we will look at brokerage, account opening, AMC, trading platforms, mutual funds, intraday trading, F&O, MTF and customer support.

Quick verdict: Zerodha may appeal more to investors and traders who prefer a clean ecosystem, transparent pricing and strong educational resources. Upstox may appeal to users who want a feature-rich trading experience with additional tools and plan-based features. Your ideal choice depends on your trading style and the charges you actually incur.

Zerodha vs Upstox: Quick Comparison

Feature	Zerodha	Upstox
Account opening	Free for individual accounts	Free for demat + trading account
Equity delivery brokerage	₹0	₹20 per executed order
Equity intraday	₹20 or 0.03%, whichever is lower	₹20 or 0.1%, whichever is lower
Equity futures	₹20 or 0.03%, whichever is lower	₹20 or 0.05%, whichever is lower
Equity options	₹20 per executed order	₹20 per executed order
Direct mutual funds	₹0 commission	₹0 commission
IPOs	₹0 brokerage	₹0 commission
AMC	First year free for eligible new resident individual accounts; subsequent charges depend on account type/BSDA status	First year free for newly onboarded users; standard AMC applies thereafter
Main trading platform	Kite	Upstox
API	Kite Connect	Upstox Developer API
Education	Varsity and TradingQ&A	Courses, webinars and learning resources

The comparison above focuses on the headline brokerage structures published by the brokers. Statutory charges such as STT, exchange transaction charges, GST and stamp duty can also affect the final cost of a trade.

Zerodha vs Upstox Brokerage: Which Is Cheaper?

Brokerage is one of the first things people check when comparing brokers. However, looking only at the headline ₹20 figure can be misleading because the actual cost depends on the segment and order value.

Zerodha brokerage charges

According to Zerodha’s current official charges page, equity delivery trades have ₹0 brokerage for individual retail clients. Equity intraday and futures trades attract 0.03% or ₹20 per executed order, whichever is lower, while equity options carry a flat ₹20 per executed order brokerage. Direct mutual fund investments also have ₹0 commission.

Upstox brokerage charges

Upstox currently lists ₹20 per executed order for equity delivery. For equity intraday trades, the charge is ₹20 or 0.1%, whichever is lower. Equity futures are charged at ₹20 or 0.05%, whichever is lower, while equity options carry a flat ₹20 per executed order charge. Mutual funds and IPOs have ₹0 commission according to Upstox’s pricing information.

Zerodha vs Upstox brokerage comparison

For long-term investors who regularly buy and hold shares, Zerodha has a clear headline advantage because it charges ₹0 brokerage on equity delivery.

For intraday traders and futures traders, Zerodha’s lower percentage cap may make a difference on smaller orders, although the final cost still depends on trade value and other charges.

For options, both brokers list ₹20 per executed order, so brokerage alone does not create a major difference.

The important point is simple: compare your actual trading pattern, not just the advertised maximum brokerage.

Zerodha vs Upstox Account Opening Charges

Opening a demat and trading account is free for individual users at both platforms based on their current official information.

Zerodha lists individual account opening as free. Upstox also advertises ₹0 account opening for its demat and trading account.

Therefore, if you are comparing Zerodha vs Upstox account opening charges, there is no major price advantage for a standard individual account.

However, account opening is only the beginning. Before choosing a broker, you should also check AMC, DP charges, brokerage and other transaction-related costs.

Zerodha vs Upstox AMC Charges

AMC stands for Annual Maintenance Charge. It is a recurring fee associated with maintaining a demat account.

Zerodha’s current policy states that AMC is free for the first year for resident individual accounts opened on or after June 1, 2026. After that, charges depend on whether the account qualifies as BSDA and on the value of holdings. Zerodha lists ₹0 AMC for eligible BSDA holdings up to ₹4 lakh, ₹100 plus GST annually for holdings between ₹4 lakh and ₹10 lakh, and ₹300 plus GST annually above ₹10 lakh. A non-BSDA account carries ₹300 plus GST annually.

Upstox currently advertises zero AMC for the first year for newly onboarded users. Its published account information states that standard individual AMC applies after the first year, with the standard figure listed as ₹300 plus GST annually.

So, in the Zerodha vs Upstox AMC comparison, both offer a first-year waiver under their current policies. Zerodha’s BSDA structure can make the long-term AMC cost lower for eligible investors with smaller holdings.

Zerodha vs Upstox Trading Platform

The Zerodha vs Upstox trading platform comparison is less about which app has more buttons and more about which interface makes sense to you.

Zerodha’s main platform is Kite, available on mobile and web. Zerodha highlights streaming market data, advanced charts and a clean user interface. Its broader ecosystem also includes Console for portfolio and reporting needs and Coin for direct mutual funds.

Upstox provides its own mobile and web trading experience with features such as charts, watchlists, price alerts, market analysis tools and trading-focused features. It also offers additional features through its Upstox Plus plan, including advanced charting and market tools.

Zerodha Kite vs Upstox app

If you prefer a relatively minimalist trading experience, Kite is likely to feel more straightforward.

If you want a broader collection of built-in trading tools and are comfortable with a more feature-heavy platform, Upstox may be worth considering.

This is one area where Zerodha vs Upstox app comparisons become subjective. A platform that feels beautifully simple to one trader may feel too basic to another.

The best approach is to check the available demos and platform features before deciding.

Zerodha vs Upstox Features

Both brokers provide access to major investment and trading categories, including stocks, mutual funds, IPOs and derivatives.

Zerodha’s ecosystem stands out because it separates different functions across products. Kite handles trading, Console provides portfolio and reporting tools, Coin focuses on direct mutual funds, and Varsity provides extensive market education. Zerodha also offers Kite Connect API services for developers.

Upstox also combines investing, trading and learning features in its platform. Its current offering includes stocks, mutual funds, IPOs, F&O, commodities, currencies and other investment products. Upstox also provides developer APIs, and in 2026 it introduced mutual fund API capabilities covering areas such as orders, SIPs and holdings.

For Zerodha vs Upstox features, the winner depends heavily on your priorities.

If you value a mature ecosystem with dedicated educational resources, Zerodha has a strong case.

If you prefer an increasingly feature-rich trading environment with additional plan-based tools, Upstox deserves a closer look.

Zerodha vs Upstox for Beginners

For beginners, the best broker is rarely the one with the most complicated charting tools. It is the one that helps you understand what you are doing before you start clicking buttons like you are playing an expensive video game.

Zerodha has a major advantage in education through Varsity, which offers structured learning material covering market basics and advanced topics. It also operates TradingQ&A, an investor and trader community.

Upstox also provides educational courses, webinars and learning content covering areas such as options trading, technical analysis and risk management.

For Zerodha vs Upstox for beginners, Zerodha may be the better fit for someone who wants to spend time learning the fundamentals and prefers a relatively clean ecosystem.

Upstox can also work well for beginners, particularly those who prefer a more feature-rich interface. However, beginners should remember that having access to advanced tools does not mean they need to use all of them immediately.

Start simple. The stock market already has enough ways to confuse you.

Zerodha vs Upstox for Long-Term Investment

For long-term investors, brokerage on equity delivery and ongoing demat costs matter more than advanced intraday tools.

Zerodha offers ₹0 brokerage on equity delivery for individual retail clients and ₹0 commission on direct mutual funds. Its BSDA structure can also reduce AMC costs for eligible smaller investors.

Upstox charges ₹20 per executed order for equity delivery according to its current brokerage schedule, while it offers ₹0 commission on mutual funds and IPOs. It also provides a first-year AMC waiver for newly onboarded users.

Therefore, for Zerodha vs Upstox for long term investment, Zerodha has an advantage for investors who frequently purchase individual stocks for delivery.

However, if your portfolio mainly consists of mutual funds, the brokerage difference may matter less because both platforms advertise ₹0 commission for mutual fund investments.

Zerodha vs Upstox for Intraday Trading

Intraday traders usually care about brokerage, execution experience, charting and the overall trading interface.

Zerodha charges 0.03% or ₹20 per executed order, whichever is lower, for equity intraday trades. Upstox lists ₹20 or 0.1%, whichever is lower.

On the headline brokerage structure, Zerodha’s percentage rate is lower.

However, traders should not judge the Zerodha vs Upstox for intraday comparison only by brokerage. Exchange charges, taxes and other statutory costs also contribute to the total cost.

For active traders, the better platform is the one that provides the tools, stability and workflow they actually prefer.

Zerodha vs Upstox for F&O Trading

Both brokers support futures and options trading.

Zerodha charges ₹20 or 0.03% per executed order for equity futures, whichever is lower, and ₹20 per executed order for equity options. Upstox lists ₹20 or 0.05% for equity futures, whichever is lower, and ₹20 per executed order for equity options.

For options traders, the brokerage structure is broadly similar at the headline level.

For futures, Zerodha’s published brokerage rate is lower.

Still, F&O traders should look beyond brokerage. Trading tools, charting, order types, execution experience, margin requirements and risk management features can all influence the practical experience.

Remember, a ₹20 brokerage fee is not the biggest risk in F&O trading. The position itself can be.

Zerodha vs Upstox MTF Charges

Margin Trading Facility, or MTF, allows eligible investors to buy certain securities by paying part of the required amount while borrowing the rest from the broker under applicable terms.

Zerodha currently lists MTF interest at 0.04% per day, or ₹40 per lakh of funded amount, with interest applied from T+1 day until the MTF stocks are sold. It also lists MTF brokerage at 0.3% or ₹20 per executed order, whichever is lower.

Upstox offers MTF and also has plan-based MTF pricing. Its Upstox Plus page shows different MTF interest rates for Basic and Plus users, which means users should check the current plan and applicable rate before using the facility.

This makes Zerodha vs Upstox MTF charges harder to reduce to one simple winner. MTF rates and terms can change, and the applicable cost may depend on the plan, stock and funding amount.

If you use MTF, calculate the total interest cost before entering a position. Borrowed money can make both gains and losses arrive faster.

Zerodha vs Upstox Customer Support

Customer support becomes especially important when something goes wrong during an important transaction.

Upstox currently provides 24×7 chatbot access, email support and a Help Center. Its customer support staff is listed as available on trading days from 8 AM to 5 PM, with escalation options for unresolved complaints.

Zerodha provides support through its support ecosystem and publishes detailed help resources for account, trading and investment-related questions.

When comparing Zerodha vs Upstox customer support, it is difficult to declare a universal winner because the quality of support can depend on the issue and the user’s experience.

A practical approach is to look at the support channels available to you and how quickly each broker can handle the type of problem you are most likely to face.

Zerodha vs Upstox: Which Is Better in 2026?

So, Zerodha vs Upstox which is better?

The honest answer is: it depends.

Choose Zerodha if you:

• Want ₹0 brokerage on equity delivery.
• Prefer a clean and established trading platform through Kite.
• Want access to Varsity for structured market education.
• Invest in direct mutual funds without commission.
• Prefer a broader ecosystem with Kite, Console and Coin.
• Want a lower published percentage brokerage rate for equity intraday and futures.
• May qualify for lower BSDA AMC charges.

Choose Upstox if you:

• Prefer a feature-rich trading experience.
• Want access to additional trading tools and plan-based features.
• Like having integrated learning resources and market tools.
• Want ₹0 commission on mutual funds and IPOs.
• Prefer its app and interface after trying the platform.
• Want to explore its developer API ecosystem.

Final Verdict: Zerodha or Upstox?

In this Zerodha vs Upstox review, there is no universal winner.

For many long-term investors, Zerodha has a strong advantage because of ₹0 equity delivery brokerage and its broader investment ecosystem. Its educational resources also make it attractive to people who want to understand the market instead of simply following the latest social media stock tip.

Upstox remains a competitive choice, particularly for users who prefer a feature-rich trading platform and want access to additional tools and plan-based features.

So, which is better, Zerodha or Upstox?

If your priority is long-term stock investing and a clean, education-focused ecosystem, Zerodha may be the better fit.

If your priority is a feature-rich trading experience and additional platform tools, Upstox may suit you better.

Ultimately, the best broker is not necessarily the one with the loudest advertisement or the most colourful app. It is the one whose pricing, platform and features match how you actually invest or trade.

Before opening an account, check the latest official pricing pages for both brokers. Brokerage, AMC, MTF rates and other charges can change, while statutory charges may also affect your final trading cost. Your decision should be based on the current tariff applicable to your account and trading segment, not an old comparison article.

Frequently Asked Questions