Upstox vs Groww – Broker Comparison

By TBS Team | March 13, 2024

Choosing the right brokerage platform is crucial in the rapidly evolving online trading and investment landscape. However, there are numerous brokerage platforms in the market. Which one is better? The Upstox Vs Groww Review is this article’s main topic of discussion.

We’ll thoroughly compare their features, charges, and overall performance to help you make an informed decision. Which Is Better Upstox Or Groww? Deciding between two popular investing apps like Upstox and Groww can be quite a challenge. Both platforms have their unique features, benefits, and drawbacks.

It ultimately depends on your personal preferences and investment goals. We hope you can decide at the end of the article whether Groww or Upstox is better for you.

About Upstox Vs Groww: Which Is Better Upstox Or Groww?

About Upstox –

Upstox, established in 2012, is a tech-first, low-cost broking firm in India. Backed by investors like Kalaari Capital, Ratan Tata, and GVK Davix. Upstox offers trading opportunities across various segments, including equities, commodities, currency, futures, and options.

Their Upstox Pro Web and Upstox Pro Mobile platforms provide robust trading features, analysis tools, and charting capabilities.

About Groww –

Founded in 2016, Groww initially started as a direct mutual fund investment platform. It added equities trading to its list of products over time. Groww is a Bangalore-based broker registered with SEBI and a member of NSE and BSE. Apart from equities, it also offers digital gold, US stocks, and fixed-income products.

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

Features – Compare Upstox and Groww

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

Account Charges and Account Opening – Upstox Vs Groww Charges

When comparing Upstox and Groww, two prominent brokerage platforms, it’s essential to consider their account charges and account opening procedures.

Upstox, a tech-forward, low-cost broking firm, provides trading opportunities across equities, commodities, currency, futures, and options through its Upstox Pro Web and Upstox Pro Mobile platforms. Backed by investors like Kalaari Capital, Ratan Tata, and GVK Davix, Upstox offers rich trading features and analysis tools.

On the other hand, Groww, initially a direct mutual fund investment platform, expanded its offerings to include equity trading. As a SEBI-registered stockbroker, Groww provides online flat-fee discount brokerage services for equity, IPOs, and direct mutual funds. Here is the breakdown of the Upstox Vs Groww Brokerage Charges:

Account Opening and Demat Charges Upstox Groww
Demat Account Opening Charges Free Free
Demat AMC (Annual Maintenance Charges) Rs.150 per annum Free
Trading AMC (Annual Maintenance Charges) Free Free
Margin Money Zero Zero
Offline to Online Charges Not applicable Yes
Depository CDSL CDSL

How To Open An Account Upstox vs Groww

Upstox:

  • Visit the Upstox account opening page.
  • Enter your basic details and click “Sign Up.”
  • Prepare scanned copies of your documents (Aadhaar, PAN, Cancelled Cheque, and latest bank statement) for upload.
  • Follow the steps to complete the process.

Groww:

  • Visit the Groww account opening page.
  • Submit basic personal details and add a bank account.
  • Complete KYC by submitting your PAN details online.
  • Review and sign the account opening form electronically.

Pros And Cons – Compare Upstox and Groww

Upstox Vs Groww Which Is Best? Both of them have their equal strengths and weaknesses. Let’s delve into the pros and cons of Upstox and Groww:

Upstox

Pros Cons
Low Fees Customer Service
Advanced Trading Platforms Limited Research and Education
Allows Margin Trading No Banking Services
Invest in Mutual Funds and IPOs
Paperless Account Opening

Groww

Pros Cons
User-Friendly Interface Limited Trading Features
Zero AMC No Forex Trading
Invest in ETFs and fractional shares. Delayed Stock Delivery
Invest in Mutual Funds and SIPs
Quick Account Opening

Upstox Vs Groww Brokerage Charges

Equity brokerage charges Upstox Groww
Equity delivery brokerage Zero Zero
Equity intraday brokerage Rs.20 Rs.20 per Order
Equity futures brokerage Rs.20 Rs.20 per Order
Equity options brokerage Rs.20 per lot Rs.20 per Order

Upstox Vs Groww Charges For Currency

Currency brokerage charges Upstox Groww
Currency futures brokerage Rs.20 Rs.20 per Order
Currency options brokerage Rs.20 per lot Rs.20 per Order

Upstox Vs Groww Charges For Commodity

Commodity Brokerage Charges Upstox Groww
Commodity Options Brokerage Rs.20 NA

Other Upstox Vs Groww Charges

Other Brokerage Charges Upstox Groww
Minimum Brokerage Charges Rs.20 NA
Transaction Brokerage Charges 0.00275% of Total Turnover 0.00325% of Total Turnover
SEBI Turnover Charges 0.0002% of Total Turnover 0.00005% of Total Turnover
Stamp Duty Charges As per the state As per the state
GST Charges 18% of (Brokerage + Transaction Charges) 18% of (Brokerage + Transaction Charges)
STT Charges 0.0126% of Total Turnover 0.025% of Total Turnover
Call and Trade Charges Rs 20 per trade NA

Upstox Vs Groww Equity Exposure/Leverage

Equity Leverage Upstox Groww
Equity Delivery Upto 5x Upto 3x
Equity Intraday Upto 20x Upto 14x
Equity Futures Upto 7x Upto 6x
Equity Options Upto 6x Upto 4x

Upstox Vs Groww Currency Leverage

Currency Leverage Upstox Groww
Currency Futures Upto 5x Upto 5x
Currency Options Upto 6X Upto 3x

Upstox Vs Groww Commodity Leverage

Equity Leverage Upstox Groww
Commodity Upto 7X Upto 10x

Offers – Compare Upstox and Groww

Offers Upstox Groww
Free Stock Trading Account Yes Yes
Free Demat Account No No
Flexible Plans No No
Brokerage Discounts Yes Yes
Happy Hours No No
1 Month Free Plan No No
Holiday Offers No No
Referral Program No No
Zero Brokerage on Loss Trades No No

Upstox Vs Groww Advisory Services

Does Upstox Vs Groww provide personalized advisory services? Groww’s partner login security operates under SEBI regulations and adheres to industry standards for data protection, although it does not explicitly disclose specific details.

Features Upstox Groww
Fundamental Reports No No
Research Reports Yes Yes
Company Reports No No
Annual Reports No No
Company Stock Review No No
Free Stock Tips No No
IPO Reports No No
Top Picks No No
Daily Market Review No No
Monthly Reports No No
Weekly Reports No No
Offline Advisory No No
Relationship Manager No No

Groww Vs Upstox Trading Platforms

Upstox:

  • Upstox Pro Web: Features advanced charting tools, technical analysis, and real-time data.
  • Upstox Pro Mobile: Provides features like order placement, portfolio tracking, and market insights.
  • Upstox Pro: Offers features like charting, option chain analysis, and smartlists.

Groww:

  • Groww Web-Browser And Mobile: Provides features like one-tap order placement, 100% paperless onboarding, real-time market data, a user-friendly interface, and customizable watchlists.

Groww Vs Upstox Desktop Trading Platforms

Desktop Trading Platforms Upstox Groww
Windows Yes No
Mac Yes No
Desktop Browser Yes Yes

Groww Vs Upstox Mobile Trading Platforms

Mobile Trading Platforms Upstox Groww
Mobile Browser Yes Yes
Android App Yes Yes
iOS App Yes Yes
Windows app No No
Other mobile os No No

Groww Vs Upstox Customer Support

Customer Support Features Upstox Groww
Relationship Manager No No
Offline Trading No No
Online Trading Yes Yes
24 * 7 Support No No
Email Support Yes Yes
Chat Support No Yes
Toll-free number No No
Support Branches Zero Zero

Groww Vs Upstox Customer Complaints

BSE Complaints Upstox Groww
BSE Complaints 185 10
BSE Resolved Complaints 126 8
Percentage of resolved BSE complaints 68.11 % 80.00 %
NSE Complaints 175 21
NSE Resolved Complaints 139 18
Percentage of resolved NSE complaints 79.43 % 85.71 %
BSE/NSE Complaint vs. Resolved Percentage 73.77 % 82.86 %

The Final Word – Groww Vs Upstox

Both Upstox and Groww offer distinct advantages in the competitive brokerage landscape. While Upstox stands out with its robust trading features and analysis tools, Groww’s simplicity and focus on direct mutual funds appeal to different investors.

Ultimately, the choice between these platforms depends on individual preferences, investment goals, and risk appetite. Whether you prioritize advanced trading capabilities or user-friendly interfaces, Upstox and Groww contribute to democratizing investing in India’s financial markets.

FAQs – Groww or Upstox

  1. Upstox Vs Groww Which Is Best?

When comparing Upstox and Groww, it’s essential to consider their unique features and offerings.

Upstox, a tech-forward, low-cost brokerage firm, provides a wide range of trading opportunities across equities, commodities, currency, futures, and options through its Upstox Pro Web and Upstox Pro Mobile platforms. Backed by investors like Kalaari Capital, Ratan Tata, and GVK Davix, Upstox offers rich trading features and analysis tools.

On the other hand, Groww, initially a direct mutual fund investment platform, expanded its services to include equity trading. As a SEBI-registered stockbroker, Groww provides online flat-fee discount brokerage services for equity, IPOs, and direct mutual funds.

Ultimately, the choice between these platforms depends on individual preferences, investment goals, and risk appetite. Whether you prioritize advanced trading capabilities or user-friendly interfaces, Upstox and Groww contribute to democratizing investing in India’s financial markets.

  1. Is Upstox cheaper than Groww?

Upstox and Groww are both discount brokers registered with SEBI. Regarding Upstox Vs Groww brokerage charges, both platforms offer competitive rates. Upstox charges Rs 20 for each trade, while Groww follows the same flat fee structure.

Notably, both have zero account opening charges. However, Upstox does have a Demat Account AMC charge of Rs 150, which Groww does not impose.

  1. Difference Between Groww And Upstox

Let’s delve into the vital difference between Groww and Upstox

  1. Type of Broker:
  • Upstox: A discount broker registered with SEBI, offering trading opportunities across equities, commodities, currency, futures, and options through its Upstox Pro Web and Upstox Pro Mobile platforms.
  • Groww: Initially a direct mutual fund investment platform, Groww expanded its services to include equity trading. It is a SEBI-registered stockbroker and provides online flat-fee discount brokerage services for equity, IPOs, and direct mutual funds.
  1. Exchange Membership:
  • Upstox: Registered with BSE, NSE, and MCX, allowing trading in commodities.
  • Groww: Offers trading at NSE and BSE.
  1. Account Opening Charges & AMC:
  • Both platforms have zero account opening charges.
  • Upstox has a Demat Account AMC charge of Rs 150, while Groww does not levy any AMC fees.
  1. Brokerage Charges:
  • Upstox:
  • Equity: Rs 20 per executed order or 2.5% (whichever is lower)
  • Intraday: Rs 20 for each executed order, or 0.05%, whichever is less.
  • Groww:
  • Equity: Rs 20 for each executed order, or 0.05%, whichever is less.
  • Intraday: Rs 20 for each executed order, or 0.05%, whichever is less.

In summary, while Upstox provides advanced trading tools and features, Groww focuses on simplicity and user-friendly interfaces for beginners.

  1. Is the Upstox and Groww partner login a secure and user-friendly platform?

Both Upstox and Groww prioritize security and user-friendliness in their partner login platforms:

  • Security:
  • Upstox: The Partner Dashboard by Upstox ensures secure access. It employs bank-level security and encryption to safeguard users’ personal and financial information.
  • Groww: Groww regulates its partner login security in adherence to industry standards for data protection, although it does not explicitly mention specific details. SEBI also regulates this security.
  • User-Friendliness:
  • Upstox: The Upstox Partner Dashboard allows partners to manage leads referrals, and access various features and benefits. It aims to be user-friendly and efficient for business growth.
  • Groww: Groww offers a simple and intuitive web-based platform and a mobile app. Although it lacks advanced trading features, its user-friendly design appeals to beginners.

In summary, both platforms prioritize security while providing user-friendly interfaces for their partners.

  1. Are Upstox and Groww trading platforms suitable for day trading?

Upstox and Groww cater to different types of traders, and their suitability for day trading depends on individual preferences and requirements. Let’s explore their features:

Upstox:

Advantages:

  • Fast Trading Platforms: Upstox provides fast and efficient trading platforms, essential for day traders aiming to capitalize on intraday price movements.
  • Low Brokerage: With a flat brokerage fee of Rs 20 per trade, Upstox offers cost-effective trading, especially for high-frequency traders.
  • State-of-the-Art Technology: Upstox Pro and Upstox mobile app offer advanced features, charts, and analysis tools.

Considerations:

While Upstox is suitable for day trading, it may appeal more to traders who actively participate in the markets throughout the trading hours.

Groww:

Advantages:

  • Beginner-Friendly: Groww is an excellent choice for beginners. Users can trade stocks for a fixed charge of Rs 20 and invest in direct mutual funds for free.
  • User-Friendly Interface: Groww’s simple interface appeals to those new to trading.

Considerations:

While Groww is beginner-friendly, its trading platform may lack some advanced features required by seasoned day traders.

In summary, if you are a frequent intraday trader, Upstox’s speed and features make it a strong contender. However, if you prefer a straightforward interface and are new to trading, Groww might be a better fit.

Disclaimer: This blog is written for educational purpose only. Data, Securities, Advisory and Quotes mentioned here are for guidance only. Doing research by investors itself is highly recommended.

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