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 |
Demat and Account Opening Charges – Upstox Vs Groww
When comparing Upstox vs 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 With Upstox and Zerodha
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 – Comparing 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 |
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 |
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 |
Charges For Commodity
| Commodity Brokerage Charges | Upstox | Groww |
|---|---|---|
| Commodity Options Brokerage | Rs. 20 | NA |
Other 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 |
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 |
Currency Leverage
| Currency Leverage | Upstox | Groww |
|---|---|---|
| Currency Futures | Upto 5x | Upto 5x |
| Currency Options | Upto 6X | Upto 3x |
Commodity Leverage
| Equity Leverage | Upstox | Groww |
|---|---|---|
| Commodity | Upto 7X | Upto 10x |
Offers of 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 |
Trading Platforms of Upstox and Groww
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.
Desktop Trading Platforms
| Desktop Trading Platforms | Upstox | Groww |
|---|---|---|
| Windows | Yes | No |
| Mac | Yes | No |
| Desktop Browser | Yes | Yes |
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 |
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 |
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 Words: 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 vs Upstox
Upstox vs. Groww: Which Is Best?
When comparing Upstox and Groww, it’s essential to consider their unique features and offerings.
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.
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.
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.
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 the 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.