Which discount broker is good for intraday trading?
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Which discount broker is good for intraday trading?
Zerodha Vs Upstox: Which one is better?
Even though both Zerodha and Upstox are discount brokers, the brokerage charges on Zerodha are a little lower than Upstox.
Now, let us see the fundamental difference between Zerodha & Upstox in terms of pricing.
1. Exchange Membership:
Zerodha: NSE, BSE, MCX & NCDEX
Upstox: BSE, NSE, MCX
2. Instigated in the Year:
Zerodha: 2010
Upstox: 2012
3. Account Opening Charges:
Zerodha: Rs. 300/- (as on 1st Feb 2023)
Upstox: Free (as of 1st Feb 2023)
4. AMC Charges:
Zerodha: Free
Upstox: Free
5. Equity Delivery Charges:
Zerodha: Free
Upstox: Rs. 20/- per trade or 2.5% whichever is lower
6. Equity Intraday Charges:
Zerodha: Rs. 20/- per trade or 0.03% whichever is lower
Upstox: Rs. 20/- per trade or 0.05% whichever is lower
7. Equity Futures Charges:
Zerodha: Rs. 20/- per trade or 0.03% whichever is lower
Upstox: Rs. 20/- per trade or 0.05% whichever is lower
8. Equity Options Charges:
Zerodha: Rs. 20/- per executed trade
Upstox: Rs. 20/- per executed trade
And the other charges like STT & SEBI charges are the same with all the broker accounts. The above-listed charges are the fundamental differences between Upstox and Zerodha.
In terms of technical features, I prefer Upstox. But when the charges are concerned Zerodha is the best.
I have Demat accounts on both Zerodha and Upstox. I can say Zerodha is better than Upstox in terms of intraday and delivery charges.
Zerodha is charging Rs. 20 to 0.03% (whichever is lower) per intraday trade. Whereas Upstox is charging Rs. 20/- per trade or 0.05% of the traded value.
Also, Zerodha is not charging for Equity Delivery trades.
The Equity delivery charges in Upstox are Rs. 20/- per trade or 2.5% whichever is lower.
I personally prefer Zerodha for those who trade in bulk quantity (both for delivery & intraday).
Even though Upstox has more technical options, I strongly recommend Zerodha for intraday trading. The reasons are very simple
I have faced order execution issues in Upstox, which is very important for intraday trading.
But Zerodha is charging around Rs. 300/- for account opening, whereas Upstox is offering it for free.
Just try opening accounts in two platforms and check which is comfortable for you.
I always suggest Zerodha because of the transparency & Low brokerage. Even though Upstox is a technically strong platform the brokerage charges are a little higher than Zerodha.
Zerodha is the first brokerage platform that introduced transparency in showing charges.