Zerodha vs. Upstox: A Comprehensive Comparison of Online Payment Processing Solutions for Traders
1. User Base and Market Presence:
- Zerodha: Established in 2010, Zerodha has rapidly grown to become India’s largest retail stockbroker. As of September 2021, it boasted over 5 million active clients, making it a formidable force in the trading industry.
- Upstox: With its inception in 2011, Upstox has also garnered significant popularity. As of the same period, Upstox had over 3 million registered users, solidifying its position as a key competitor to Zerodha.
2. Trading Platforms and Technology:
- Zerodha: Zerodha offers its proprietary trading platform called “Kite,” which is renowned for its simplicity, intuitive interface, and powerful charting tools. It also provides the “Zerodha Pi” desktop application for advanced traders.
- Upstox: Upstox provides the “Upstox Pro” trading platform, featuring real-time market data, technical analysis tools, and customizable layouts. It also offers a mobile app for traders on the go.
3. Brokerage Charges and Fees:
- Zerodha: Zerodha is well-known for its transparent and low brokerage fees. It follows a flat fee model of Rs. 20 per trade (or 0.03% of the turnover) for equity intraday and delivery trades, making it cost-effective for frequent traders.
- Upstox: Upstox also follows a flat fee model, charging Rs. 20 per order for equity intraday and delivery trades, similar to Zerodha’s structure.
4. Account Opening Process:
- Zerodha: Zerodha has streamlined its account opening process, offering a fully digital and hassle-free experience. Traders can open an account online by completing the necessary documentation and verification.
- Upstox: Upstox offers a swift online account opening process, providing traders with a seamless onboarding experience.
5. Margin Trading Facilities:
- Zerodha: Zerodha offers its customers margin trading facilities for both intraday and delivery trades, subject to specific terms and conditions.
- Upstox: Upstox also provides margin trading facilities to eligible traders, enabling them to make use of leverage for their trades.
6. Customer Support and Reviews:
- Zerodha: Zerodha is acclaimed for its exceptional customer support, offering assistance through various channels, including phone, email, and live chat. Online reviews reflect a high satisfaction rating for its customer service.
- Upstox: Upstox also provides robust customer support, with channels like phone and email for query resolution. User reviews generally indicate satisfactory experiences with their support team.
7. Security and Compliance:
- Zerodha: Zerodha adheres to strict security protocols, ensuring that customer data and transactions are well-protected. The platform is compliant with regulatory requirements set by SEBI and other governing bodies.
- Upstox: Upstox places a strong emphasis on security and maintains regulatory compliance to safeguard its users’ interests.
8. Additional Features:
- Zerodha: Apart from its core trading features, Zerodha offers innovative tools like “Coin,” a platform for direct mutual fund investments, and “Sensibull,” a comprehensive options trading platform.
- Upstox: Upstox provides additional features like “Smallcase”, enabling users to invest in intelligently curated portfolios, and “Upstox MF”, facilitating mutual fund investments.
