As the notion of discount brokerage gained traction among Indian retail investors, the number of players on the list grew.
With so many options (such as angle broking, Zerodha, Upstox, Groww, and others), you might be unsure which discount brokerage to choose.
The most straightforward method is to group them according to the fees they charge and the services they provide.
This article will provide a full comparison between Upstox and Groww, two of the most popular discount brokerage firms.
Summary
| Demat Account | Groww | Upstox |
| Founded | 2016 | 2008 |
| Demat AMC | Rs 400 | Rs 249 |
| Website | Click Here | Click Here |
Upstox
Upstox has been in operation since January 2012 and is now one of India’s most popular online booking services.
Equity trading, derivatives trading, and online share trading facilities at the lowest feasible brokerage fees are among the important services it offers.
Groww
Groww is a renowned Indian internet investing platform with its headquarters in Bangalore. Since 2016, Groww has provided online mutual fund and stock investment alternatives.
This platform delivers a wide range of services to its users in a very flexible manner, with new features being introduced regularly.
Read: Groww Vs Zerodha
Upstox vs Groww Overview
| Overview | Upstox | Groww |
|---|---|---|
| Broker Type | Discount Broker | Discount Broker |
| Type of company | Private | Private |
| Headquarter | Mumbai, India | Bangalore, India |
| Founders | Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath | Lalit Keshre |
| Foundation Year | 2009 | 2016 |
| Supported Exchanges | BSE, NSE, MCX | NSE and BSE |
| Total branches | 4 | 0 |
Upstox vs Groww features
Both Upstox and Groww provide their customers with a variety of services, trading tools, and platforms. The table below shows their comparative analysis:
| Features | Upstox | Groww |
|---|---|---|
| Equity Delivery Trading | Yes | No |
| Equity Intraday Trading | Yes | Yes |
| Equity Futures Trading | Yes | No |
| Equity Options Trading | Yes | No |
| Currency Trading | Yes | No |
| Commodity Trading | No | No |
| IPO (Initial public offering) | Yes | No |
| Stocks Suggestions | No | No |
| Robo Advisory | Yes | No |
| PMS (Portfolio Management Services) | No | No |
| Trading Institution | No | No |
| Trading Exposure | Upto 20x | |
| Mutual Funds | No | No |
| SIP (Systematic Investment Plan) | No | No |
| Forex Trading | No | No |
| Banking | No | No |
| Insurance | No | No |
Upstox vs Groww account opening charges
Upstox Trading Account Opening Fee is 249+GST, while Groww Trading Account Opening Fee is 0 (Free). AMC for Groww Demat Account is 0 (Free), while AMC for Upstox Demat Account is 0 (Free).
| Charge | Upstox | Groww |
|---|---|---|
| Demat Account Opening Charges | – | – |
| Trading Acc Opening Charges | ₹249 | ₹200 |
| Trading Account AMC | ₹0 | ₹0 |
| Demat Account AMC | ₹300 per year | ₹300 per year |
Upstox vs Groww Brokerage Charges and Plans
| Charge | Upstox | Groww |
|---|---|---|
| Plan Name | Basic | Standard Plan |
| Equity Delivery | ₹0 (FREE) | ₹0 |
| Equity Intraday | ₹20 per trade or 0.05 percent (whichever is lower) | ₹20 or 0.01 percent of executed order value |
| Equity Futures | ₹20 per trade or 0.05 percent (whichever is lower) | N/A |
| Equity Options | ₹20 per trade or 0.05 percent (whichever is lower) | N/A |
| Currency Futures | ₹20 per trade or 0.05% (whichever is lower) | N/A |
| Currency Options | ₹20 per trade or 0.05% (whichever is lower) | N/A |
| Commodity Options | ₹20 per trade or 0.05% (whichever is lower) | N/A |
| Mutual Fund | N/A | N/A |
Upstox vs. Groww Trading Platforms
Both Upstox and Groww provide a variety of Trading Platforms to help their clients have a better trading experience.
The table below shows their comparative analysis:
Desktop Trading Platforms
| Desktop Trading Platforms | Upstox | Groww |
|---|---|---|
| Windows | Yes | No |
| Mac | Yes | No |
| Desktop Browser | Yes | Yes |
Mobile Trading Platforms
| Mobile Trading Platforms | Upstox | Groww |
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows app on another mobile os | No | No |
Groww vs Upstox Other Investment
Groww and Upstox both provide their clients with a variety of investment options in addition to stock trading on their platforms in order to provide a better trading experience.
The table below shows their comparative analysis:
| Other Investment | Groww | Upstox |
|---|---|---|
| Commodity Trading * | No | Yes |
| Investment in ETFs * | Yes | Yes |
| Investment in Mutual Funds * | Yes | Yes |
| Investment in Bonds * | No | No |
| Investment in Corporate Debt instruments * | No | No |
| Insurance Services * | No | No |
| Banking Services * | No | No |
Read our 10 Best Free Demat Account
Upstox vs. Groww Pros & Cons
Both Upstox and Groww has advantages and disadvantages, listed below in the table :
Upstox Pros & Cons
Pros
- It is one of the most reputable Demat platforms in India.
- It offers no commission on a variety of delivery trades.
- Upstox is a completely online trading platform that allows for a wide range of trading options.
- Shri Ratan Tata is a supporter of this initiative.
Cons
- Although the call and trade option is available, it is charged at Rs 20 for each trade.
- In the delivery segment, it does not support the Good Till Canceled (GTC) function.
Groww Pros & Cons
Pros
- It has a straightforward price structure.
- Groww allows you to open a free, convenient, and paperless account.
- It is one of the most affordable brooking services, with a minimum brokerage of just Rs 20.
- Groww has a Direct Mutual Fund that can help you earn an extra 1% on your investment.
- It enables users to purchase Digital Gold.
Cons
- There are no call and trade services available.
- It does not provide adequate customer service.
- You only have limited access to financial products through the Groww platform.
FAQs
Is Upstox superior to Groww?
Both Upstox and Groww are cheap brokerage firms. To determine which is the better stockbroker, we must examine aspects such as brokerage prices, account opening fees, trading platforms, and more.
Groww vs. Upstox: Which is Better?
Compare brokerage prices, trading platforms, Demat account opening fees, research, advisory services, and other factors to determine which of the two stockbrokers, Upstox and Groww, is the better option.
Is Groww less expensive than Upstox?
Both Upstox and Groww are cheap brokerage firms. The brokerage fees are often reduced because these are discount brokers.
In general, both of these brokers’ brokerage fees will be relatively similar. Examine the brokerage charges in-depth to discover the cheapest broker for your needs.
Amit Gupta is the creator of FreeDematAccount.in, a website that specializes in Demat accounts and provides assistance to all its users in navigating through complicated decisions. After completing his high school certification, Amit spent half a decade learning about Demat accounts from brokerages. Before forming FreeDematAccount.in, Amit worked for a Demat account brokerage.