Which is the Best Stock Broker in India? Groww vs Zerodha vs Angel One vs Upstox Compared
Meticulous Comparison of Top 4 Indian Stock Brokers
Selecting a good stockbroker can be the key to a successful trading experience. Every platform has its strengths, weaknesses, and specialties. Here's an in-depth comparison of India's top four stock brokers—Groww, Zerodha (Kite), Angel One, and Upstox—based on individual experiences, features, and fees.
The Ultimate Comparison of India’s Leading Stock Brokers
"Did you know your stockbroker's fees can quietly devour over 50% of your ₹50 profit? Worrying which platform keeps most of the profit in your wallet? In this article, we will compare Groww, Zerodha, Angel One, and Upstox through a real-life example. Find out how each fee – from brokerage to GST to DP charges – mounts up and learn about which broker really works best for small-time investors like you. Spoiler alert: Not all platforms are the same!"
1-GROWW
Groww became popular among new investors in a very short time because of its easy-to-use interface and ease of operation. It encourages everyone, even with no experience in trading, to invest.
Strengths
Strengths
Ease of Use:
Groww's web and mobile interfaces are very easy to use and are one of the best for new investors. From viewing news about your portfolio, to entering trades, to following trends in the market, everything is intuitive.
Increased Stability:
Groww had major reliability problems in the past, frequently freezing four times a month. But now these issues have reduced severely, and the platform is much more reliable.
Investment Diversity:
Groww offers the facility to invest in Indian and US stocks, mutual funds, ETFs, and fixed deposits, so investors can choose from a variety of investment interests.
Weaknesses
Limited Advanced Tools:
Although Groww is great at being simple, it does not have advanced charting and analysis tools that experienced traders might need.
No Desktop App:
Groww's lack of a separate desktop application might be a turn-off for professional or high-volume traders.
My Personal Experience
Initially, Groww’s glitches frustrated me, especially during critical trades. There were times when the app froze mid-transaction, leaving me anxious about potential losses. Thankfully, the platform has improved significantly, and these issues are now rare. Its simplicity continues to make it my preferred choice for quick trades.
Example Scenario
You’re about to sell a stock for a 5% gain, and Groww works seamlessly, executing your order without a hitch.
Joke: Why did the trader stop being worried about Groww glitches?
Because it finally grew out of them!
Limited Advanced Tools:
Although Groww is great at being simple, it does not have advanced charting and analysis tools that experienced traders might need.
No Desktop App:
Groww's lack of a separate desktop application might be a turn-off for professional or high-volume traders.
My Personal Experience
Initially, Groww’s glitches frustrated me, especially during critical trades. There were times when the app froze mid-transaction, leaving me anxious about potential losses. Thankfully, the platform has improved significantly, and these issues are now rare. Its simplicity continues to make it my preferred choice for quick trades.
Example Scenario
You’re about to sell a stock for a 5% gain, and Groww works seamlessly, executing your order without a hitch.
Joke: Why did the trader stop being worried about Groww glitches?
Because it finally grew out of them!
2. Zerodha (Kite Platform)
India's largest stockbroker, Zerodha, has a strong ecosystem and low-cost model. It is very popular with seasoned traders.
Strengths
Advanced Features:
Zerodha's Kite platform boasts sophisticated tools such as advanced charts, integrations with Smallcase, Sensibull, and Varsity for education, and customizable watch lists.
Cost-Effective Pricing:
It charges a flat fee of ₹20 per trade for F&O trades and intraday trades, so it's highly suitable for high-frequency traders.
Comprehensive Ecosystem:
Aside from stocks, Zerodha provides mutual funds (through Coin), SIPs, and market analysis, making it a holistic investment experience.
Weaknesses
Old Interface:
The Kite interface doesn't seem as new-age and user-friendly as Groww's, which can discourage newcomers.
Quarterly Fees:
Zerodha charges ₹89 quarterly for maintaining the account, which seems redundant for small investors.
Sloping Learning Curve:
Newbies may find the platform daunting due to its feature-heavy nature and lack of hand-holding.
My Personal Experience
Zerodha's Kite platform is strong but less intuitive than Groww. I end up spending too much time learning its features rather than trading. Also, the quarterly fees are an unpleasant burden. For serious traders, it's an excellent platform, but for me, who likes simplicity, it doesn't feel so accessible.
India's largest stockbroker, Zerodha, has a strong ecosystem and low-cost model. It is very popular with seasoned traders.
Strengths
Advanced Features:
Zerodha's Kite platform boasts sophisticated tools such as advanced charts, integrations with Smallcase, Sensibull, and Varsity for education, and customizable watch lists.
Cost-Effective Pricing:
It charges a flat fee of ₹20 per trade for F&O trades and intraday trades, so it's highly suitable for high-frequency traders.
Comprehensive Ecosystem:
Aside from stocks, Zerodha provides mutual funds (through Coin), SIPs, and market analysis, making it a holistic investment experience.
Weaknesses
Old Interface:
The Kite interface doesn't seem as new-age and user-friendly as Groww's, which can discourage newcomers.
Quarterly Fees:
Zerodha charges ₹89 quarterly for maintaining the account, which seems redundant for small investors.
Sloping Learning Curve:
Newbies may find the platform daunting due to its feature-heavy nature and lack of hand-holding.
My Personal Experience
Zerodha's Kite platform is strong but less intuitive than Groww. I end up spending too much time learning its features rather than trading. Also, the quarterly fees are an unpleasant burden. For serious traders, it's an excellent platform, but for me, who likes simplicity, it doesn't feel so accessible.
Example Scenario
You spend so much time setting up a chart in Kite that by the time you’re ready to place a trade, the market opportunity is gone.
Joke: Why is Zerodha like a spaceship?
It’s powerful but hard to operate without training!
3. Angel One
Angel One is a very old full-service broker in India, now shifting towards the digital world with a hybrid business model of full-service offerings at discounted rates.
Strengths
Multi-Dimensional Offerings:
Angel One has extensive offerings for investment avenues such as stocks, commodities, IPOs, mutual funds, and insurance products.
AI-Driven Insights:
ARQ Prime, the AI-based tool from Angel One, offers individualized suggestions for sound decision-making.
Although Angel One is a full-service broker, its fees are reasonable, so it is a fine middle ground.
Weaknesses
Lagging App Performance:
The app from Angel One slows down during busy trading times, which is annoying for frequent traders.
Complicated Onboarding:
Opening an account is not as simple as with Groww or Upstox.
My Personal Experience
Although Angel One's features are solid, the lag of the app during high periods has lost me a number of trading opportunities. It's a decent platform for those wanting to diversify, but the rare technical glitch prevents it from being more reliable.
Example Scenario
You get an AI-based stock tip but cannot follow through as the app is lagging behind, watching helplessly as the stock price floats away.
Joke: Why did Angel One go to therapy?
To prevent falling behind in the race!
Angel One is a very old full-service broker in India, now shifting towards the digital world with a hybrid business model of full-service offerings at discounted rates.
Strengths
Multi-Dimensional Offerings:
Angel One has extensive offerings for investment avenues such as stocks, commodities, IPOs, mutual funds, and insurance products.
AI-Driven Insights:
ARQ Prime, the AI-based tool from Angel One, offers individualized suggestions for sound decision-making.
Although Angel One is a full-service broker, its fees are reasonable, so it is a fine middle ground.
Weaknesses
Lagging App Performance:
The app from Angel One slows down during busy trading times, which is annoying for frequent traders.
Complicated Onboarding:
Opening an account is not as simple as with Groww or Upstox.
My Personal Experience
Although Angel One's features are solid, the lag of the app during high periods has lost me a number of trading opportunities. It's a decent platform for those wanting to diversify, but the rare technical glitch prevents it from being more reliable.
Example Scenario
You get an AI-based stock tip but cannot follow through as the app is lagging behind, watching helplessly as the stock price floats away.
Joke: Why did Angel One go to therapy?
To prevent falling behind in the race!
4. Upstox
Upstox is a cost-effective broker that balances affordability with high-end features, making it a popular choice among professional traders.
Strengths
Flat-Fee Pricing:
Charges ₹20 per trade, minimizing costs for intraday and F&O traders.
Upstox is a cost-effective broker that balances affordability with high-end features, making it a popular choice among professional traders.
Strengths
Flat-Fee Pricing:
Charges ₹20 per trade, minimizing costs for intraday and F&O traders.
Advanced Tools:
Upstox provides powerful charting and technical analysis tools, making it ideal for professional traders.
Reliable Platform:
Upstox supports high volumes of trading without any glitches, providing a seamless trading experience.
Weaknesses
Steeper Learning Curve:
Its interface is not as user-friendly as Groww, and this might discourage newcomers.
Restricted Mutual Fund Options:
Upstox has fewer mutual fund options compared to Groww or Angel One.
My Personal Experience
Upstox is stable and affordable but has a somewhat unique interface. Being a user-friendliness enthusiast, it took me some time to get accustomed to it, but once you get comfortable, it serves as a good trading platform.
Example Scenario
You attempt to examine various indicators in Upstox and become bogged down by how complex it is, leading to a missed trade.
Joke: Why did the trader enjoy Upstox?
Because it kept their earnings up without making expenses up!
Example: Profit Calculation After All Charges
Scenario:"Suppose I invest ₹1,000 in a stock and sell it at ₹1,050. My profit after all charges on all platforms?"
Let's dissect it by analyzing brokerage charges, government charges, and platform charges:
1. Groww
Brokerage Fee: ₹20 flat per transaction.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for this transaction.
STT (Securities Transaction Tax): 0.1% of selling value = ₹1.05.
DP Charges (for sell trades): ₹13.5 (inclusive of GST).
Quarterly/Yearly Charges: None.
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹13.5 = ₹39.65
Net Profit = ₹50 - ₹39.65 = ₹10.35
2. Zerodha (Kite)
Brokerage Fee: ₹20 flat on trade.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for the trade.
STT (Securities Transaction Tax): 0.1% of sell price = ₹1.05.
DP Charges: ₹13.5 (inlcuding GST).
Quarterly Charges: ₹89/3 = ₹29.67 (three-months averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹13.5 + ₹29.67 = ₹69.32
Net Profit = ₹50 - ₹69.32 = (-₹19.32) (Loss)
Brokerage Fee: ₹20 flat on trade.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for the trade.
STT (Securities Transaction Tax): 0.1% of sell price = ₹1.05.
DP Charges: ₹13.5 (inlcuding GST).
Quarterly Charges: ₹89/3 = ₹29.67 (three-months averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹13.5 + ₹29.67 = ₹69.32
Net Profit = ₹50 - ₹69.32 = (-₹19.32) (Loss)
3. Angel One
Brokerage Fee: ₹20 flat per trade.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for this trade.
STT (Securities Transaction Tax): 0.1% of sell value = ₹1.05.
DP Charges: ₹20 (including GST).
Annual Maintenance Charges (AMC): ₹240/year = ₹20/month (averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹20 + ₹20 = ₹66.15
Net Profit = ₹50 - ₹66.15 = (-₹16.15) (Loss)
Brokerage Fee: ₹20 flat per trade.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for this trade.
STT (Securities Transaction Tax): 0.1% of sell value = ₹1.05.
DP Charges: ₹20 (including GST).
Annual Maintenance Charges (AMC): ₹240/year = ₹20/month (averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹20 + ₹20 = ₹66.15
Net Profit = ₹50 - ₹66.15 = (-₹16.15) (Loss)
4. Upstox
Brokerage Charge: ₹20 flat per transaction.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for this transaction.
STT (Securities Transaction Tax): 0.1% of sell value = ₹1.05.
DP Charges: ₹13.5 (with GST).
Annual Maintenance Charges (AMC): ₹150/year = ₹12.5/month (averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹13.5 + ₹12.5 = ₹52.15
Net Profit = ₹50 - ₹52.15 = (-₹2.15) (Loss)
Brokerage Charge: ₹20 flat per transaction.
GST on Brokerage: 18% of ₹20 = ₹3.6.
Transaction Charges (SEBI + Exchanges): ~₹1.5 for this transaction.
STT (Securities Transaction Tax): 0.1% of sell value = ₹1.05.
DP Charges: ₹13.5 (with GST).
Annual Maintenance Charges (AMC): ₹150/year = ₹12.5/month (averaged).
Total Charges = ₹20 + ₹3.6 + ₹1.5 + ₹1.05 + ₹13.5 + ₹12.5 = ₹52.15
Net Profit = ₹50 - ₹52.15 = (-₹2.15) (Loss)
Key Insights
Effect of Charges:Even with a gain of ₹50, all the platforms have multiple charges (brokerage, DP, GST, SEBI fees, STT, and platform charges) that can cut into your profit. Zerodha and Angel One are exceptions with higher overall charges because they have extra quarterly or yearly charges.
Breakeven Point:
For profitability, your investment gain should be sufficient to cover all charges. For every platform:
- Groww: Minimum gain required = ₹39.65.
- Zerodha: Minimum gain needed = ₹69.32.
- Angel One: Minimum gain needed = ₹66.15.
- Upstox: Minimum gain needed = ₹52.15.
How Much Should You Invest to Make a Profit?
Assuming an overall return of 5%, the following would be the break-even amount one needs to invest:
Assuming an overall return of 5%, the following would be the break-even amount one needs to invest:
- Groww: ₹800 (Gain = ₹40).
- Zerodha: ₹1,400 (Gain = ₹70).
- Angel One: ₹1,400 (Gain = ₹70).
- Upstox: ₹1,100 (Gain = ₹55).
Conclusion
Though Groww charges the least, Zerodha, Angel One, and Upstox impose huge expenses in the form of quarterly or yearly maintenance fees. For small investors, Groww is the most cost-effective one to attain profitability.
Though Groww charges the least, Zerodha, Angel One, and Upstox impose huge expenses in the form of quarterly or yearly maintenance fees. For small investors, Groww is the most cost-effective one to attain profitability.
Comparing Net Profits for 10 Trades (₹1,000 Buy, ₹1,050 Sell Per Trade)
1. Groww
- Total Charges: ₹396.5
- ₹200 (Brokerage: ₹20 × 10 trades)
- ₹36 (GST on Brokerage)
- ₹15 (Transaction Charges)
- ₹10.5 (STT on Sell Price)
- ₹135 (DP Charges: ₹13.5 × 10 trades)
- Net Profit: ₹103.5
- ₹500 (Total Profit) - ₹396.5 (Total Charges)
2. Zerodha
- Total Charges: ₹426.17
- ₹200 (Brokerage: ₹20 × 10 trades)
- ₹36 (GST on Brokerage)
- ₹15 (Transaction Charges)
- ₹10.5 (STT on Sell Price)
- ₹135 (DP Charges: ₹13.5 × 10 trades)
- ₹29.67 (Quarterly Charges)
- Net Profit: ₹73.83
- ₹500 (Total Profit) - ₹426.17 (Total Charges)
3. Angel One
- Total Charges: ₹481.5
- ₹200 (Brokerage: ₹20 × 10 trades)
- ₹36 (GST on Brokerage)
- ₹15 (Transaction Charges)
- ₹10.5 (STT on Sell Price)
- ₹200 (DP Charges: ₹20 × 10 trades)
- ₹20 (Monthly AMC)
- Net Profit: ₹18.5
- ₹500 (Total Profit) - ₹481.5 (Total Charges)
4. Upstox
- Total Charges: ₹409
- ₹200 (Brokerage: ₹20 × 10 trades)
- ₹36 (GST on Brokerage)
- ₹15 (Transaction Charges)
- ₹10.5 (STT on Sell Price)
- ₹135 (DP Charges: ₹13.5 × 10 trades)
- ₹12.5 (Monthly AMC)
- Net Profit: ₹91
- ₹500 (Total Profit) - ₹409 (Total Charges)
Summary
| Platform | Total Charges | Net Profit for 10 Trades |
|---|---|---|
| Groww | ₹396.5 | ₹103.5 |
| Zerodha | ₹426.17 | ₹73.83 |
| Angel One | ₹481.5 | ₹18.5 |
| Upstox | ₹409 | ₹91 |
Key Takeaways
The best feature of Groww is no AMC or quarterly charges, so it is most profitable for frequent trades.Upstox and Zerodha are close, but Upstox beats them with a bit lower fees.
Angel One charges the most, so it is not very appropriate for repeated trading.
Note: There could be some extra fees, updated pricing policies, or new developments not discussed here. Kindly check the official brokers' websites for the latest and most accurate information.
Joke: Why did the trader choose Groww?
Because it caused their profits to increase without incurring unnecessary charges!
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