Brokers · Zerodha vs Upstox
Zerodha vs Upstox: which demat account is better in 2026
Ecosystem depth versus mobile execution speed. Cost-first, disclosed, and informational, not a recommendation to open any specific account.
The verdict
Zerodha and Upstox both charge zero delivery brokerage and a flat 20 rupees per executed order on F&O, so the deciding factor is ecosystem depth versus mobile speed: Zerodha suits the investor who wants the widest platform despite a 300 rupees yearly AMC, while Upstox suits the active trader who wants fast execution at a low AMC that is often waived the first year.
BazaarBaaziSource & method
Which suits whomZerodha 82 · Upstox 78
The fast read on who each account fits. The cost-fit score is a BazaarBaazi 0 to 100 number for the lens of this matchup (ecosystem depth versus mobile execution speed); the factor breakdown below shows exactly how it is built.
Best for
Zerodha
Investors and active traders who want the deepest, most proven self-directed platform.
Cost-fit score
82 / 100
Strengths
- Free equity delivery and a mature, stable platform (Kite) trusted at scale.
- Deepest ecosystem: Console reporting, Coin for direct mutual funds, Sentinel alerts, Varsity learning.
- Largest active client base in India, which signals long-run reliability and liquidity of support.
Trade-offs
- Charges a 300 per year AMC, where some newer rivals advertise a lower or zero maintenance plan.
- Onboarding and support can feel slower at peak times given the sheer client volume.
Best for
Upstox
Active and intraday traders who want fast mobile fills and a low ongoing maintenance cost.
Cost-fit score
78 / 100
Strengths
- Fast, responsive mobile and web order flow that holds up in volatile sessions.
- Low annual maintenance with promotional first-year waivers common through the year.
- Solid charting for an app-first trader, plus options tooling.
Trade-offs
- Ecosystem and learning resources are narrower than the market leader's.
- Promotional pricing means the headline AMC can change, so verify the current rate card.
The comparison, side by sideIndicative 2026
Charges are the published flat-fee structures of Zerodha and Upstox as of 2026. Statutory charges (STT, exchange transaction, GST, SEBI and stamp) are the same across brokers and sit on top of the brokerage below.
| Zerodha | Upstox | |
|---|---|---|
| Account opening | Free (online equity) | Free |
| Annual maintenance (AMC)The recurring cost of simply holding the demat account. | 300 per year | Low AMC (often waived first year) |
| Equity deliveryBrokerage on buy-and-hold equity. Statutory charges still apply. | Zero brokerage | Zero brokerage |
| Equity intraday | 20 per order or 0.03 percent, whichever is lower | 20 per order or 0.05 percent, whichever is lower |
| Futures and optionsPer executed order. Statutory charges (STT, exchange, GST) are the same across brokers. | 20 per executed order | 20 per executed order |
Verify the live rate card on each broker site before opening an account. How BazaarBaazi sources this.
How the cost-fit score is builtBase 50, clamped 0 to 100
The score is deterministic: base 50, adjusted by the factors below and clamped to 0 to 100. It is a transparent cost-and-fit signal for this matchup, not a SEBI-registered rating.
Zerodha · 82 / 100
Upstox · 78 / 100
Both accounts charge zero delivery brokerage and a flat 20 rupees per executed order on F&O, so the score turns on holding cost, tooling and fit rather than on trade brokerage.
Prefer Upstox?
If the Upstox side of this matchup fits you better, here is the disclosed sign-up. The cost-first comparison above does not change either way.
FAQ3 reader questions · AEO-eligible
The Zerodha versus Upstox call, distilled and schema-marked for AI Overview, Perplexity, and reader search.
Is Zerodha or Upstox cheaper overall?
On trades they are level: both charge zero brokerage on equity delivery and a flat 20 rupees per executed order on intraday and F&O. The difference is AMC. Zerodha charges a clear 300 rupees per year. Upstox charges a low AMC that is frequently waived in the first year, so confirm the current Upstox rate card before choosing on cost alone.
Which is better for intraday trading, Zerodha or Upstox?
Both charge a flat 20 rupees per executed order on intraday, so the brokerage is identical. Upstox is often preferred for its fast mobile order flow, while Zerodha's Kite platform is well regarded for execution reliability at scale. The difference is platform feel rather than cost.
Which is better for long-term investing, Zerodha or Upstox?
Both charge zero delivery brokerage, so buying and holding shares costs nothing in brokerage on either platform. Zerodha's Console reporting and Coin mutual funds platform make portfolio tracking easier over the long term. Zerodha charges 300 rupees per year AMC; Upstox charges a lower AMC, often waived initially, so verify the current ongoing rate.
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