Groww vs Upstox
Groww focuses on simplicity with no AMC; Upstox targets traders with advanced charts and a free API.
Fees checked on against each broker's official pricing page.
Charges side by side
| Charge | Groww | Upstox |
|---|---|---|
| Account opening | ₹0. | Free (Upstox notes an account processing fee may be charged during onboarding). |
| Demat AMC | ₹0. | Zero for the first year for new customers (from 14 Feb 2025); non-BSDA ₹300 + GST per year thereafter. |
| Equity delivery | ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). | ₹20 per executed order. |
| Equity intraday | ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). | ₹20 or 0.1% per executed order, whichever is lower. |
| Futures | Flat ₹20 per executed order. | ₹20 or 0.05% per executed order, whichever is lower. |
| Options | Flat ₹20 per executed order. | Flat ₹20 per executed order. |
| DP charge (on selling delivery shares) | Every sell order. ₹3.50 depository (₹3.25 for women) + ₹16.50 Groww + 18% GST = ₹23.60 (₹23.31 for women). Groww's own fee is ₹0 when the debit value is below ₹100. Groww says DP is applied per sell order, not per stock: selling the same stock in two orders costs two DP charges. | Once per stock (ISIN) per day. ₹20 + 18% GST (₹23.60) per scrip per day, only on sell. Split: ₹3.50 CDSL + ₹16.50 Upstox (men), ₹3.25 + ₹16.75 (women). |
| Margin trading (MTF) | Interest 14.95% per year. | Up to 4x leverage; interest ₹20 per day for each ₹40,000 slab. |
| Other notable charges | Auto square-off: ₹50 per position. Direct mutual funds: zero commission. | Call & trade: ₹75 + GST. Auto square-off: ₹75 + GST (the Upstox Plus section of the same page shows ₹50). |
Company, regulation & platforms
| Groww | Upstox | |
|---|---|---|
| Type | Discount broker | Discount broker |
| Legal entity | Groww Invest Tech Private Limited | Upstox Securities Private Limited |
| SEBI registration | INZ000301838 | INZ000315837 |
| Mobile app | Groww app (Android, iOS) | Upstox app (Android, iOS) |
| Web / desktop | Groww web | Upstox Pro web with TradingView charts, free Upstox API |
| Best for | Beginners who want a simple app with no AMC | Active traders and API users |
Key differences
Delivery: Groww 0.1% or ₹20 (min ₹5); Upstox ₹20 flat. On small orders under ₹20,000, Groww is cheaper.
Intraday: both 0.1% or ₹20. Futures: Groww ₹20; Upstox 0.05% or ₹20. Options: ₹20 at both.
AMC: Groww ₹0; Upstox free in year one, then ₹300 + GST.
DP: both ₹23.60 including GST, but counted differently. Groww charges per sell order (its own part is waived below a ₹100 debit); Upstox charges once per stock per day.
Auto square-off: Groww ₹50 per position; Upstox ₹75 + GST.
For clarity the examples show brokerage by itself; GST, STT, exchange, SEBI fees and stamp duty are charged on top and are much the same at either broker.
Which should you choose?
- Choose Groww for ₹0 AMC, small delivery orders and a simple app.
- Choose Upstox for advanced charting and a free API as an active trader.
Groww
Pros
- ₹0 account opening and ₹0 AMC
- Very simple, beginner-friendly app
- Direct mutual funds with zero commission
Cons
- Brokerage on delivery trades (0.1% or ₹20)
- Minimum brokerage of ₹5 per order
- Auto square-off fee of ₹50 per position
Upstox
Pros
- ₹20 cap on every segment
- TradingView-based charts
- Free trading API
Cons
- ₹20 brokerage on delivery orders
- Call & trade and auto square-off cost ₹75 + GST
- DP charge of ₹20 + GST per stock per day
Frequently asked questions
Is Groww or Upstox better for beginners?
Groww is generally simpler and has no AMC. Upstox offers more trading tools.
Sources
- Groww – official pricing — accessed 30 September 2026
- Upstox – official pricing — accessed 30 September 2026