Upstox vs Groww – Broker Comparison

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.

2. 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.

3. 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.

4. 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.

5. 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.