Groww vs Upstox
A full side-by-side comparison of brokerage charges, demat AMC, margin, platforms, features and user ratings — updated for 2026.
Groww
VS
Upstox
Groww vs Upstox — quick verdict
Choose Groww if
You want low-cost, self-directed trading
Investing Made Simple
Choose Upstox if
You want low-cost, self-directed trading
Modern discount broker offering fast trading platforms, flat brokerage and investment products for traders and investors.
Company overview
Groww is a discount broker incorporated in 2016; Upstox is a discount broker incorporated in 2009.
| Parameter | Groww | Upstox |
|---|---|---|
| Type of broker | Discount Broker | Discount Broker |
| Exchange membership | NSE · BSE · MCX | — |
| Year of incorporation | 2016 | 2009 older |
| Number of branches | Not Disclosed | Online-first broker |
| Active clients | ~1.29 Crore larger | 30+ lakh (approx.) |
Charges & AMC
Account-opening and maintenance charges for Groww and Upstox compared side by side.
| Parameter | Groww | Upstox |
|---|---|---|
| Trading a/c opening | ₹0 (Free) | ₹0 (Online) |
| Trading a/c AMC | ₹0 (Free) | ₹0 (First Year)* |
| Demat a/c opening | ₹0 (Free) | ₹0 |
| Demat a/c AMC | ₹0 (Free) lower | ₹300 + GST/year (applicable after promotional period for eligible accounts) |
| DP charges (per ISIN, sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) lower | ₹20 per scrip per day (on sell transactions) |
Brokerage charges
How Groww and Upstox price each trading segment, per executed order.
| Parameter | Groww | Upstox |
|---|---|---|
| Equity Delivery | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | ₹20 per executed order |
| Equity Intraday | ₹20 or 0.1% per executed order (whichever is lower, minimum ₹5) | ₹20 or 0.1% (whichever is lower) |
| Equity Futures | ₹20 per executed order | ₹20 or 0.05% (whichever is lower) |
| Equity Options | ₹20 per executed order | Flat ₹20 per executed order |
| Currency F&O | ₹20 per executed order | ₹20 or 0.05% (whichever is lower) |
| Commodity F&O | ₹20 per executed order | ₹20 or 0.05% (whichever is lower) |
| Call & Trade | Not Available | ₹75 + GST per order |
Transaction charges (exchange turnover)
Exchange turnover and clearing charges passed through by Groww and Upstox, per segment.
| Parameter | Groww | Upstox |
|---|---|---|
| Equity Delivery | NSE: 0.00297% | BSE: 0.00375% | NSE: 0.00307% (BSE as applicable) |
| Equity Intraday | NSE: 0.00297% | BSE: 0.00375% | NSE: 0.00307% |
| Equity Futures | NSE: 0.00173% | BSE: 0.00% | NSE: 0.00183% |
| Equity Options | NSE: 0.03503% (on premium) | BSE: 0.0325% (on premium) | NSE: 0.03553% (Premium) |
| Currency Futures | NSE: 0.00012% | BSE: 0.00005% | As per exchange |
| Currency Options | NSE: 0.0325% (on premium) | BSE: 0.001% (on premium) | — |
| Commodity Futures | MCX: 0.00210% | — |
| Commodity Options | MCX: 0.04180% (on premium) | — |
| Commodity | — | As per exchange |
Demat & DP charges
Depository (demat) charges for Groww and Upstox — AMC, debit transactions, pledging and remat.
| Parameter | Groww | Upstox |
|---|---|---|
| Demat Account Opening | ₹0 (Free) | ₹0 |
| Transaction Charges (Sell) | Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) | — |
| Transaction Charges Demat Account Opening ₹0 (Free) Transaction Charges (Sell) Depository ₹3.50 (Male) / ₹3.25 (Female) + Groww ₹16.50 per debit transaction (₹0 for debit value below ₹100) Annual Maintenance Charges (AMC) | ₹0 | — |
| Pledge / Unpledge | ₹20 per ISIN | — |
| Remat | ₹150 per certificate + courier charges | — |
| Failed Demat Transaction | ₹50 per ISIN | — |
| Demat Account AMC | — | ₹300 + GST/year* |
| DP Charge (Sell) | — | ₹20 per scrip per day |
| Pledge Creation | — | ₹20 + GST per request |
| Rematerialisation | — | ₹100 per certificate + applicable charges |
| Off-market Transfer | — | ₹20 + GST per ISIN |
| Failed Transactions | — | Nil |
Margin & leverage (MTF)
Intraday and delivery margin / leverage offered by Groww and Upstox.
| Parameter | Groww | Upstox |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | As per SEBI peak margin rules (Up to 5x*) | Up to 20% of trade value (Up to 5x) |
| F&O (Equity/Currency/Commodity) | SPAN + Exposure Margin (1x) | SPAN + Exposure Margin (1x) |
| Currency F&O | — | SPAN + Exposure Margin (1x) |
| Commodity F&O | — | SPAN + Exposure Margin (1x) |
Features & account
Account type and feature availability across Groww and Upstox.
| Parameter | Groww | Upstox |
|---|---|---|
| 3-in-1 account | ✕ No | ✕ No |
| Automated / API trading | ✓ Yes | ✓ Yes |
| Margin Trading (MTF) | ✓ Yes | ✓ Yes |
| Trading in SME shares | ✓ Yes | ✓ Yes |
| Trading platforms | Groww Web, Groww Mobile App, Groww API | Upstox Pro Web, Upstox Mobile App, Upstox Developer API |
| Intraday square-off | 3:20 PM | 3:15 PM |
| Other | Stock SIP, Option Chain, Price Alerts, Advanced Charts, Watchlists, Portfolio Tracking, Margin Trading Facility (MTF), IPO Investment, Direct Mutual Funds. | GTT Orders, API Trading, Margin Trading Facility (MTF), IPO, Mutual Funds, Option Chain, Advanced Charts, Basket Orders, etc. |
Trading platforms & apps
Trading terminals, web platforms and mobile apps offered by Groww and Upstox.
| Parameter | Groww | Upstox |
|---|---|---|
| Trading platforms offered | Groww Web, Groww App | Upstox Pro Web, Upstox Mobile App, Upstox Developer API, Upstox Developer Console |
| Number of platforms | 2 | 4 more choice |
| Platforms (summary) | Groww Web, Groww Mobile App, Groww API | Upstox Pro Web, Upstox Mobile App, Upstox Developer API |
| Mobile / desktop apps | Web, Mobile | Web, Android & iOS, API |
User ratings
User ratings for Groww and Upstox across the key parameters.
| Rated on | Groww | Upstox |
|---|---|---|
| Fees | 4.7 better | 4.4 |
| Brokerage | 4.6 better | 4.5 |
| Trading platform | 4.8 better | 4.7 |
| Customer service | 4.3 better | 4 |
| Research | 4.1 better | 3.8 |
| Overall | 4.6 better | 4.4 |
Investment options
Which investment products Groww and Upstox let you access.
| Parameter | Groww | Upstox |
|---|---|---|
| Stocks / Equity | ✓ Yes | ✓ Yes |
| Commodity | ✓ Yes | ✓ Yes |
| IPO | ✓ Yes | ✓ Yes |
| Mutual Funds | ✓ Yes | ✓ Yes |
| Bonds / NCD | ✓ Yes | ✓ Yes |
Order types offered
Advanced order types supported by Groww and Upstox.
| Parameter | Groww | Upstox |
|---|---|---|
| Bracket Order | ✕ No | ✕ No |
| Cover Order | ✕ No | ✕ No |
| BTST | ✓ Yes | ✓ Yes |
| After Market (AMO) | ✓ Yes | ✓ Yes |
| GTC / GTT | ✓ Yes | ✓ Yes |
Safety & credibility
SEBI registration, financial strength and complaint record for Groww and Upstox.
| Parameter | Groww | Upstox |
|---|---|---|
| SEBI registration | INZ000301838 | INZ000185137 |
| NSE member code | 90187 | 13942 |
| Year of incorporation | 2016 | 2009 longer track record |
| Net worth | Not Publicly Disclosed | Upstox Securities Pvt. Ltd. |
| Exchange memberships | NSE · BSE · MCX | — |
| Latest complaint ratio | 0.009% fewer complaints | 0.038% |
Complaints record
Exchange complaint data for Groww and Upstox — the ratio matters more than the raw count.
| Parameter | Groww | Upstox |
|---|---|---|
| Latest financial year | 2023–24 | 2025–26 |
| Exchange | NSE | NSE |
| Active clients | 95,38,609 larger base | 32,45,678 |
| Complaints filed | 834 | 1,245 |
| Complaint ratio | 0.009% fewer complaints | 0.038% |
Pros & cons
The main advantages and drawbacks of each broker.
Groww
▲ Pros
- ✓ Simple and beginner-friendly trading platform.
- ✓ Fully digital and paperless account opening process.
- ✓ Supports investment in stocks, mutual funds, ETFs, IPOs and F&O.
- ✓ Available on both web and mobile platforms.
- ✓ Transparent brokerage structure.
- ✓ Easy portfolio tracking and fund management.
- ✓ Supports multiple exchanges including NSE, BSE and MCX.
- ✓ Secure online investment platform with modern trading tools.
▼ Cons
- ✕ Limited physical branch network.
- ✕ Research and advisory services are comparatively limited.
- ✕ Call & Trade facility is not available.
- ✕ Advanced trading features may be fewer than some full-service brokers.
- ✕ Customer support response time may vary during peak market hours.
- ✕ Margin funding and premium research offerings are limited compared to some competitors.
Upstox
▲ Pros
- ✓ Flat brokerage model with a maximum brokerage per executed order on eligible segments.
- ✓ Paperless online Demat and Trading account opening.
- ✓ Feature-rich web and mobile trading platforms.
- ✓ Supports investing in Stocks, ETFs, IPOs, Mutual Funds and more.
- ✓ Margin Trading Facility (MTF) available for eligible stocks.
- ✓ GTT (Good Till Triggered) order facility.
- ✓ Developer APIs available for algorithmic trading and third-party integrations.
- ✓ Supports multiple order types and advanced charting tools.
▼ Cons
- ✕ Call & Trade service is chargeable.
- ✕ Physical branch presence is limited compared to traditional full-service brokers.
- ✕ Some advanced services and pricing depend on the selected account plan.
- ✕ Certain trading facilities are available only for eligible exchanges or approved securities.
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Disclaimer: Investments in the securities market are subject to market risks; read all related documents carefully before investing. This page is for information only and is not investment advice. Brokerage, AMC and other charges change frequently — always verify against the broker's official website before opening an account. Affiliate disclosure: "Open account" links are affiliate links and we may earn a commission at no extra cost to you; this does not influence our ratings.