Groww vs upstox vs zerodha charges comparison 2020 - Real and honest review

Hello Investors, how are you?
Hope you are enjoying investing.

Today we shall compare all major stock brokers here.

As we know for stock market investment we all have to go use a trading interface, provided by stock broker.

groww charges vs upstox charges vs zerodha charges

Don't forget to see conclusion of this post at the end.

There are many stock brokers out there.

For brokerage charge comparison here we have selected popular brokers from INDIA

1) Zerodha
2) Upstox 
3) Groww app

Well you might wondering groww app is just for mutual funds, but do you know groww recently introduced stocks option as well.

all these are leading discount brokers in india. Listed orders are randomly arranged

if you haven't opened Demat account yet, then I urge you to open Demat account base on your choice. Please read this post clearly to avoid any misunderstanding

There are few steps which to be considered in selecting best broker.

1) The purpose of stock market investment

The purpose is very important, it could be short term/intraday, medium term investment and some might be long term investors. To be honest, I like to be a real long term investor. There are numerous benefits of being so, I shall share my experience in another post.
Now let's move to another point

2) Brokerage 

Brokerage charges which to be applied by stock broker ( Groww, upstox and zerodha). Brokerage varies as per stock broker fees, we have compared major Indian stock broker's below

3) User / App interface

I personally think user interface or web interface/ app interface for trading is most important. I have demat account in Upstox and groww as well. As the moto of this blog, I would share my honest review about both apps. I use groww app most, as I hold mutual funds as well as stocks in the same app. As far as app interface is concern groww is easy to use, clean and neatly arranged functions. and one bonus point groww app supports "Dark mode" obviously it shouldn't matter, just in case some one might be curious about. 

Groww charges vs upstox charges vs zerodha charges

1) Account Opening Charges

Groww: Charged one time for opening trading and demat account. It will be ₹0 (Limited Period Offer ₹200) on Groww.
Upstox: Zero
Zerodha: Equity (for trades on Equity, F&O and Currency) : ₹ 200 & ₹ 300 if commodity added

Here Groww and Upstox wins, as they offer zero account opening charges.

2) AMC (Account maintenance charges)

For managing your account. It is ₹75 + GST charged quarterly. (₹300/year )
Upstox: ₹ 150/Year + GST
Zerodha: ₹300/year + GST charged quarterly

In terms of account maintenance charges, both groww app and zerodha remains same where Upstox has less Dmat account maintenance charges.

3) Brokerage

Equity Delivery: 0 Charges Equity Intraday: Charged by broker, if you buy and sell on the same day. It will be charged at 0.01% of turnover (max Rs 20 ) per executed order. Turnover is the total of buy and sell amounts for intraday.
Upstox: Equity Delivery: 0 Charges Equity Intraday: Rs. 20 per executed order or 0.05% (whichever is lower)
Zerodha: Equity Delivery: 0 Charges Equity Intraday: 0.03% or Rs. 20/executed order whichever is lower

Here you can notice, upstox's brokerage is little higher. this disappoints me and forces me to think for zerodha or groww.

4) Transaction Charges

Charged by exchange for trading. It is 0.00325% on NSE and 0.003% on BSE of order amount, applicable on both buy and sell.
Upstox: NSE: 0.00325% per trade on buy & sell. BSE: charges vary as per the scrip group
Zerodha: (Same on deliver and Intraday) NSE: 0.00325%BSE: 0.003%

Transaction charges are same as it it applied by exchange (NSE or BSE).

5) Securities/Commodities transaction tax

Charged by government when you transact on exchanges. It is 0.1% of order amount in case of equity delivery and 0.025% of order amount in case of equity intraday.
Upstox: Delivery: 0.1% on both buy & sell. Intraday: 0.025% only on sell.
Zerodha: Delivery: 0.1% on buy & sell Intraday: 0.025% on the sell side

Transaction tax are also same as it it applied by govt.

6) Stamp Duty

Charged by state government as stamp duty for contract note. It is different for each state but maximum is 0.018%. (it is Maharashtra's state stamp duty charge)
Upstox: 0.015% on buy side (MH)
Zerodha: 0.015% or ₹1500 / crore on buy side

Nothing to worry about stamp duty, it will be almost same. as it it applied by state government.

7) Payment gateway charges

Charges for depositing money in Groww Balance. It is zero as of now.
Upstox: None
Zerodha: ₹9 + GST

I like groww and upstox here.

8) DP (Depository participant) charges

Buy Order: No charges Sell Order: Charged by DP for debiting stocks from demat account. It is ₹8 + ₹ 5.50 + GST (CDSL Charges) per ISIN (company/ETF) per day on Groww regardless of quantity sold.
Upstox: Demat transaction charges Delivery: Rs. 18.5 per scrip per day only on sell. Intraday: No Charges
Zerodha: ₹13.5 + GST per scrip (irrespective of quantity), on the day, is debited from the trading account when stocks are sold. This is charged by the depository (CDSL) and depository participant (Zerodha).

Groww and zerodha charges are same, lower than upstox.

9) Clearing Charges

Charged by clearing member of NSSCL (clearning corporation of NSE) and ICCL (clearing corporation of BSE). It is Zero on Groww.
Upstox: None (Included in demat transaction charges)
Zerodha: Clearing charge is the fee levied by the Clearing Member (ISSL) for settling all CDS & MCX trades done by the client on the exchange.

It is almost similar.

10) SEBI Turnover Charges

Charged at 0.00005% by SEBI (Securities and Exchange Board of India) for regulating the markets.
Upstox: Rs. 15/crore
Zerodha: Charged at ₹5 per crore by Securities and Exchange Board of India for regulating the markets.

Again, nothing to worry about.

11) GST

GST of 18% is applied on charges wherever applicable.
Upstox: 18% (on brokerage + transaction + demat charges)
Zerodha: Tax levied by the government on the services rendered. 18% of ( brokerage + transaction charges)

GST will be same wherever you go, 18%.

Conclusion: I think groww app has many advantages over upstox and zerodha app. But a little headup ! it doesn't give very good chart / environment for fundamental analysis. You have to do it elsewhere. but if you tracking a company from long time you knew all fundamentals of that company. right?

or you can use another website like moneycontrol or tickertape for fundamental analysis.

Now, what you think of all comparison ?
Please let me know you comments below , thanks for reading

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