The comparison between Zerodha, Anand Rathi, and Upstox highlights the major differences in their services and features, including overall ratings, brokerage charges, trading platforms, investment offerings, and customer service quality. Zerodha is known for its user-friendly trading experience and reliability, while Anand Rathi stands out for offering competitive brokerage rates and an advanced mobile trading platform. Upstox provides an excellent balance of technology, research tools, and responsive customer support. In terms of active clients, the brokers report approximately 796 lakhs, 149,849, and 23.78 lakh users respectively, reflecting their popularity among investors. Overall, this comparison of Zerodha, Anand Rathi, and Upstox helps traders and investors choose the most suitable broker based on features, pricing, and platform performance.
Services / Features
The services/features comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their offerings. Zerodha provides 4 for Overall Rating, while Anand Rathi offers 4 and Upstox features 4.5.
| Services / Features | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Overall Rating | ★★★★★ | ★★★★★ | ★★★★★ |
| Brokerage Charges | ★★★★★ | ★★★★★ | ★★★★★ |
| Trading Platform | ★★★★★ | ★★★★★ | ★★★★★ |
| Investments Offering | ★★★★★ | ★★★★★ | ★★★★★ |
| Customer Service | ★★★★★ | ★★★★★ | ★★★★★ |
| Broker Type | Discount Broker | Full Service Broker | Discount Broker |
| Exchanges Supported | NSE, BSE, MCX | NSE, BSE, MCX | NSE, BSE |
| Active Clients | 796 lakhs | 149,849 | 23.78 lakh |
| Broker Overview | Zerodha | Anand Rathi Review | Upstox Review |
Account Opening Charges and AMC
The account opening charges and AMC comparison between Zerodha, Anand Rathi, and Upstox reveal significant differences in their offerings. Zerodha provides N/A trading and demat account opening, while Anand Rathi offers N/A and Upstox features Free.
| Account Opening Charges and AMC | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Trading Account Opening | — | — | Free |
| Trading AMC | ₹300 | — | ₹300 |
| Demat Account Opening | — | — | Free |
| Demat AMC | ₹300 | — | ₹300 |
| Provide DP Service | Yes | Yes | Yes |
Brokerage Plans
The brokerage plans comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their offerings. Zerodha provides No plans, while Anand Rathi offers - and Upstox features -.
| Brokerage Plans | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Multiple Plans | No | - | - |
| Monthly Plans | No | - | - |
| Yearly Plans | No | - | - |
Brokerage Charges
This comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their brokerage charges. Zerodha charges Zero brokerage on equity delivery and intraday, ₹20 or 0.03% for futures, and ₹20 for options. Anand Rathi charges 0.20% brokerage on equity delivery and intraday, 0.02% for futures, and Rs 50 per lot for options. Upstox charges ₹20 brokerage on equity delivery and intraday, ₹20 or 0.1% for futures, and ₹20 for options.
| Brokerage Charges | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Plan Name | - | - | |
| Equity Delivery | Zero | 0.20% | ₹20 |
| Equity Intraday | ₹20 or 0.03% | 0.02% | ₹20 or 0.1% |
| Equity Futures | ₹20 or 0.03% | 0.02% | ₹20 or 0.1% |
| Equity Options | ₹20 | Rs 50 per lot | ₹20 |
| Currency Futures | ₹20 or 0.03% | 0.02% | ₹20 or 0.5% |
| Currency Options | ₹20 | Rs 20 per lot | ₹20 |
| Commodity Futures | 0.02% | ||
| Commodity Options | Rs 100 per lot | ||
| Hidden Charges | No | No | No |
| Call & Trade Charges | ₹50 per order | 50 + GST | ₹75 + GST |
| Auto Square Off Charges | ₹50 per order | 50 + GST | ₹75 + GST |
| Brokerage Calculator |
Transactions Charges
This comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their transactions. Zerodha provides NSE: 0.00297% BSE: 0.00375% for Transaction Charges Equity Delivery, while Anand Rathi offers NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) and Upstox features NSE: 0.00297% per trade.
| Transactions Charges | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Equity Delivery | NSE: 0.00297% BSE: 0.00375% | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE: 0.00297% per trade |
| Equity Intraday | NSE: 0.00297% BSE: 0.00375% | NSE Rs 297 per Cr (0.00297%) | BSE Rs 375 per Cr (0.00375%) (sell side) | NSE: 0.00297% per trade |
| Equity Futures | NSE: 0.00173% | NSE Rs 173 per Cr (0.00173%) | BSE Rs 0 | NSE: 0.00188% |
| Equity Options | NSE: 0.03503% BSE: 0.0325% | NSE Rs 3503 per Cr (0.03503%) | BSE Rs 325 per Cr (0.00325%) | NSE: 0.0495% (on premium) |
| Currency Futures | NSE: 0.00035% BSE: 0.00045% | NSE Rs 35 per Cr (0.00035%) | BSE Rs 45 per Cr (0.00045%) | NSE: 0.00035% BSE: 0.00045% |
| Currency Options | NSE: 0.0311% BSE: 0.001% | NSE Rs 3110 per Cr (0.0311%) | BSE Rs 100 per Cr (0.001%) (on premium) | NSE: 0.0311% BSE: 0.001% |
| Commodity | MCX: 0.0418% NSE: 0.001% | — | 0.05% |
Account Features
These are the notable distinctions in the account features of Zerodha, Anand Rathi, and Upstox when compared.
| Account Features | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| 3-in-1 Account | No | No | No |
| Charting | Yes | Yes | Yes |
| Algo Trading | Yes | Yes | Yes |
| SMS Alerts | Yes | Yes | Yes |
| Online Demo | Yes | Yes | Yes |
| Online Portfolio | Yes | Yes | Yes |
| Margin Trading Funding Available | Yes | Yes | Yes |
| Combined Ledger for Equity and Commodity | Yes | Yes | Yes |
| Intraday Square-off Time | 3:20 PM | 3:20 PM | 3:20 PM |
| NRI Trading | Yes | Yes | No |
Trading Platforms
The trading platforms comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their offerings. Zerodha, Anand Rathi and Upstox provide web trading platforms and mobile trading platforms.
| Trading Platforms | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Web Trading Platform | Yes | Yes | Yes |
| Web Trading Detail | Zerodha | Anand Rathi | Upstox |
| Mobile Trading | Yes | Yes | Yes |
| Mobile Trading App | Yes | Yes | Yes |
| Android Mobile App | Yes | Yes | Yes |
| Android App Download | Yes | Yes | Yes |
| iPhone Mobile App (iOS) | Yes | Yes | Yes |
| iOS App Download | Download | Download | Download |
| Android Tablet App | yes | Yes | Yes |
| iPad App (iOS) | Yes | Yes | Yes |
| Trading Software Charges | Zero | Nil | Free |
Broker Ratings
The broker ratings comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their offerings. Zerodha provides 4.5 for Fees Ratings, while Anand Rathi offers 4.2 and Upstox features 4.3.
| Broker Ratings | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Fees Ratings | 4.5 | 4.2 | 4.3 |
| Trading Brokerage Rating | 4.5 | 4.2 | 4.4 |
| Trading Platform Usability | 4.8 | 4 | 4.4 |
| Customer Service Ratings | 4.4 | 3.9 | 4.2 |
| Overall Ratings | 4.6 | 4 | 4.3 |
Investment Offerings
This comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their investment offerings. Zerodha provides investment offerings in Yes, mutual funds and offers trades in currency and commodities, while Anand Rathi provides investment offerings in Yes, mutual funds and offers trades in currency and commodities and Upstox provides investment offerings in Yes, mutual funds and offers trades in currency and commodities.
| Investment Offerings | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Equity Cash and F&O | Yes | Yes | Yes |
| Currency Derivatives | Yes | Yes | Yes |
| Commodity | Yes | Yes | Yes |
| Online IPO Application | Yes | Yes | Yes |
| Mutual Funds | Yes | Yes | Yes |
| Bond / NCD | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes |
| Banking | No | No | No |
| Insurance | No | No | No |
| Forex | Yes | Yes | Yes |
| MF SIP Investment | Yes | Yes | Yes |
| Equity SIP Investment | Yes | Yes | Yes |
| PMS Service | Yes | Yes | Yes |
| Other Investment Options | Yes | Yes | Yes |
Customer Support
The comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their Customer Support. Zerodha provides No, while Anand Rathi offers No and Upstox features No.
| Customer Support | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| 24/7 Customer Service | No | No | No |
| Email Support | Yes | Yes | Yes |
| Online Live Chat | Yes | Yes | Yes |
| Phone Support | Yes | Yes | Yes |
| Toll Free Number | No | 1800 420 1004 | No |
| Through Branches | Yes | Yes | Yes |
| Customer Care Number | 080 4718 1888 | 0291 666 1001 | 022-41792999 |
| Account Opening Process | Online/Paperless | Online/Offline | Online/Paperless |
| Customer Support Email | [email protected] | [email protected] | [email protected] |
| Knowledge Center / Education | https://zerodha.com/z-connect/ | — | https://upstox.com/uplearn/ |
| Head Office Address | Zerodha, #153/154, | Express Zone A Wing 10th Floor, Western Express Highway, Goregaon East, Mumbai – 400063 | 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra 400013 |
| Website | https://zerodha.com/ | https://anandrathi.com/ | https://upstox.com/ |
Research and Reports
The research and reports comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their offerings.
| Research and Reports | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| Research Mutual Funds | Yes | Yes | Yes |
| Research Equity Reports | Yes | Yes | Yes |
| Research ETF | Yes | Yes | Yes |
| Daily Market Report | Yes | Yes | Yes |
| Free Tips | No | No | No |
| Quarterly Result Analysis | Yes | Yes | Yes |
| News Alerts | Yes | Yes | Yes |
Demat Account Charges
This comparison between Zerodha, Anand Rathi, and Upstox reveals significant differences in their demat account charges. Zerodha provides CDSL for DP Source, while Anand Rathi offers CDSL & NSDL and Upstox features CDSL.
| Demat Account Charges | Zerodha | Anand Rathi | Upstox |
|---|---|---|---|
| DP Source | CDSL | CDSL & NSDL | CDSL |
| DP ID | 431-2019 | 437-2019 | 81800 |
| Demat Account Annual Maintenance Charges (AMC) | ₹300 | — | Rs 300 |
| Advance Deposit | No | No | No |
| Transaction Charges on Debit (Per ISIN) | ₹40 per executed order | Rs 15 Per ISIN [For POA clients]; Rs 25 Per ISIN [For Non POA clients] | — |
| Demat | ₹15.34 per scrip | Rs 3 per certificate + Rs 35 per request | — |
| Remat | ₹15.34 per scrip | Rs 15 for every 100 securities or a Flat fee of Rs 15 per certificate | — |
| Pledge Creation | ₹30 + GST | 0.01% of value or min Rs 50 per request | ₹20 + GST per scrip |
| Pledge Creation Confirmation | Yes | Nil | Yes |
| Pledge Closure | ₹30 + GST | 0.01% of value or min Rs 50 per request | ₹20 + GST per scrip |
| Pledge Closure Confirmation | Yes | Nil | Yes |
| Pledge Invocation | ₹30 + GST | 0.01% of value or min Rs 50 per request | ₹20 + GST per scrip |
| Failed Instruction Charges | ₹450 | Rs 25 per Instruction | ₹50 per transaction |
| Other Charges | Zero | — | No |
Advantages and Disadvantages
| Broker | Pros | Cons |
|---|---|---|
| Zerodha |
|
|
| Anand Rathi |
|
|
| Upstox |
|
|
User Experience: Buying Stocks
Zerodha – User Trading Experience
Account Opening Experience: Account opening is fully online with digital KYC, typically activated within 1–3 working days.
Platform & Order Execution: The platform rating is 4/5. Mobile trading app ensures real-time order execution and portfolio tracking.
Brokerage Transparency: Intraday brokerage is ₹20 or 0.03%, and charges are shown before order confirmation.
Advanced Features: Supports algorithmic trading for strategy-based investors. Margin trading facility increases buying power.
Research & IPO: Provides equity research reports. Supports online IPO applications.
Customer Support: Customer service rating is 4.4/5.
Market Presence: Around 796 lakhs active clients use this broker.
Anand Rathi – User Trading Experience
Account Opening Experience: Account opening is fully online with digital KYC, typically activated within 1–3 working days.
Platform & Order Execution: The platform rating is 4/5. Mobile trading app ensures real-time order execution and portfolio tracking.
Brokerage Transparency: Intraday brokerage is 0.02%, and charges are shown before order confirmation.
Advanced Features: Supports algorithmic trading for strategy-based investors. Margin trading facility increases buying power.
Research & IPO: Provides equity research reports. Supports online IPO applications.
Customer Support: Customer service rating is 3.9/5.
Market Presence: Around 149,849 active clients use this broker.
Upstox – User Trading Experience
Account Opening Experience: Account opening is fully online with digital KYC, typically activated within 1–3 working days.
Platform & Order Execution: The platform rating is 4.5/5. Mobile trading app ensures real-time order execution and portfolio tracking.
Brokerage Transparency: Intraday brokerage is ₹20 or 0.1%, and charges are shown before order confirmation.
Advanced Features: Supports algorithmic trading for strategy-based investors. Margin trading facility increases buying power.
Research & IPO: Provides equity research reports. Supports online IPO applications.
Customer Support: Customer service rating is 4.2/5.
Market Presence: Around 23.78 lakh active clients use this broker.
Frequently Asked Questions
The account opening charges vary significantly: Zerodha charges Not specified, Anand Rathi charges Not specified, and Upstox charges Free. When considering AMC, investors should evaluate the overall cost structure along with the features and services provided by each broker.
Brokerage charges differ across platforms: Zerodha offers ₹20 or 0.03% for equity intraday, Anand Rathi provides 0.02%, and Upstox charges ₹20 or 0.1%. The actual costs may vary based on trading volume, account type, and specific plans offered by each broker.
All three brokers provide diverse investment opportunities: Zerodha offers 5, Anand Rathi provides 4, and Upstox features 4.5. The platforms support equity trading, derivatives, mutual funds, and other financial instruments suitable for different investor profiles.
Customer support quality varies: Zerodha has 4 support, Anand Rathi offers 4, and Upstox provides 4.4. Support channels typically include phone, email, live chat, and branch services, with response times and availability differing between brokers.
Platform usability ratings show: Zerodha with 4.8, Anand Rathi with 4, and Upstox with 4.4. The best interface depends on individual preferences - some users prefer simplicity while others need advanced features and customization options.
Yes, mutual fund and stock investing is available across all platforms: Zerodha (Yes), Anand Rathi (Yes), and Upstox (Yes). All three brokers provide comprehensive access to equity markets and mutual fund investments through their respective platforms.
For beginners, the choice depends on specific needs: Zerodha offers user-friendly platforms with educational resources, Anand Rathi provides competitive pricing with intuitive interfaces, and Upstox combines ease of use with comprehensive investment options. Beginners should consider factors like ease of account opening, customer support quality, educational content, and platform simplicity when making their decision.
All three brokers offer robust mobile trading apps with different strengths: Zerodha focuses on intuitive design and quick execution, Anand Rathi emphasizes advanced charting and analysis tools, while Upstox balances simplicity with comprehensive features. The mobile apps are available for both iOS and Android devices with regular updates and feature enhancements.
Stock Broker Review
Zerodha
Anand Rathi
