ZenTraderBroker comparisons · Rates as published 20 October 2026
Zerodha vs Upstox: what a trade costs
- Delivery
- Zerodha₹55 less a trade
- Intraday
- Zerodhaup to ₹29 less a trade
- Demat AMC
- SameFree the first year, then ₹300 + GST a year
- MTF interest
- Zerodha14.6% against 18.25% a year
The charges each broker sets
| Zerodha | Upstox | |
|---|---|---|
| Delivery brokerage | ₹0 | ₹20 an order |
| Intraday brokerage | 0.03%, up to ₹20 an order | 0.1%, up to ₹20 an order |
| DP charge per stock sold | ₹15.34 | ₹23.60 |
| Demat AMC | Free the first year, then ₹300 + GST a year | Free the first year, then ₹300 + GST a year |
| MTF interest | 0.04% a day (about 14.6% a year) | ₹20 a day per ₹40,000 (about 18.3% a year) |
DP charges include GST and apply once for each stock you sell from your demat on a day, whatever the quantity. AMC figures are for a regular demat account; a basic services demat account (BSDA) pays less or nothing.
What a whole trade costs
A buy and a sell at the same price, with STT, stamp duty, exchange and SEBI charges, GST and the DP charge included. The cheaper broker for each trade is highlighted.
| Trade | Zerodha | Upstox | Saving |
|---|---|---|---|
| ₹10,000 delivery | ₹38 | ₹93 | ₹55 |
| ₹50,000 delivery | ₹127 | ₹182 | ₹55 |
| ₹1 lakh delivery | ₹238 | ₹293 | ₹55 |
| ₹5 lakh delivery | ₹1,128 | ₹1,183 | ₹55 |
| ₹10,000 intraday | ₹11 | ₹27 | ₹17 |
| ₹25,000 intraday | ₹27 | ₹56 | ₹30 |
| ₹1 lakh intraday | ₹83 | ₹83 | Same |
ZerodhaUpstox
Widest on small tradesOn ₹10,000 the charges are 0.93% at Upstox and 0.38% at Zerodha.
Which is cheaper for you
Delivery trades. Zerodha costs the same or less for delivery trades of every size up to ₹10 lakh. It is ₹55 cheaper on ₹10,000 and ₹55 cheaper on ₹1 lakh.
Intraday trades. Zerodha costs the same or less for intraday trades of every size up to ₹10 lakh. It is ₹17 cheaper on ₹10,000 and the same on ₹1 lakh.
Trading often. 200 delivery round trips of ₹50,000 in a year cost about ₹25,316 at Zerodha and ₹36,408 at Upstox, so Zerodha saves about ₹11,092 a year.
Margin (MTF). On ₹2 lakh of funding held for 30 days, interest comes to about ₹2,400 at Zerodha and ₹3,000 at Upstox, ₹600 less at Zerodha. Margin trades also pay pledge charges and their own brokerage at most brokers.
Account fees. Both charge the same demat AMC (Free the first year, then ₹300 + GST a year).
What is the same at both
STT, stamp duty, exchange and SEBI charges are set by the government, the exchange and SEBI, and every broker collects the same amounts. On a ₹1 lakh delivery round trip they come to about ₹222, most of the bill at either broker. Price is also only part of the choice. Order tools, app reliability and support matter too, and this page does not rate them.
Rates from each broker's own page as published on 20 October 2026: Zerodha, Upstox. Standard plans for a resident individual trading NSE stocks; paid plans, offers and F&O are not included. Brokers change their rates, so check before you decide. ZenTrader is independent of both brokers. The link to open a Zerodha account carries our referral code, and Zerodha may pay us a share of the brokerage if you open one through it. It changes no figure or verdict on this page.
Common questions
Is Zerodha or Upstox cheaper for delivery trades?
Zerodha costs the same or less for delivery trades of every size up to ₹10 lakh. It is ₹55 cheaper on ₹10,000 and ₹55 cheaper on ₹1 lakh. A ₹1 lakh delivery round trip costs about ₹238 at Zerodha and ₹293 at Upstox, all charges included. Most of that is STT, which is the same at every broker.
Which has lower intraday charges, Zerodha or Upstox?
For intraday, Zerodha charges 0.03% or ₹20 an order, whichever is lower, and Upstox charges 0.1% or ₹20 an order, whichever is lower. A ₹25,000 intraday round trip costs about ₹27 at Zerodha and ₹56 at Upstox, all charges included.
Which charges less interest on MTF, Zerodha or Upstox?
On margin funding, Zerodha charges 0.04% a day (about 14.6% a year) and Upstox charges ₹20 a day per ₹40,000 (about 18.3% a year). On ₹2 lakh held for 30 days that is about ₹2,400 at Zerodha and ₹3,000 at Upstox.
What is the DP charge at Zerodha and Upstox?
The DP charge, paid once for each stock you sell out of your demat on a day, is ₹15.34 at Zerodha and ₹23.60 at Upstox, GST included. It is the same whatever the quantity, so it matters most on small sales.