📊 Zerodha vs Upstox vs Angel One — Quick Comparison
Feature / Segment Zerodha Upstox Angel One
Equity Delivery Brokerage (buying shares for long-term) ₹0 — free delivery brokerage ₹0 — free delivery brokerage in many cases/promotions ₹0 — also offers zero brokerage on delivery (in their basic/discount-brokerage offering)
Intraday / F&O Brokerage (per executed order) ₹20 or 0.03%, whichever is lower ₹20 or 0.05% (whichever lower) — somewhat higher percentage than Zerodha ₹20 per order (or brokerage depending on plan) for F&O; intraday charges may vary by plan.
Account Opening & Demat Account AMC ₹200 to open; AMC ~ ₹300/year. Often free/promotional for account opening; AMC ~ ₹300/year (or as per plan) Usually free account opening; AMC may vary (depending on holdings / plan) — sometimes lower for small portfolios.
Trading Platform & Technology A well-established, reliable platform (often praised for stability, simplicity, tools, transparency) Modern interface, competitive tools, good for active traders especially intraday / frequent trading Offers hybrid model — discount-broker pricing + additional features (research / advisory) than pure discount brokers
Research / Advisory / Extra Services Basic research; mostly self-serve; fewer hand-holding/advisory features compared to full-service brokers Limited research/advisory — more suitable if you trade mostly on your own than rely on recommendations Stronger on research/advisory, reports, recommendations — good for investors who value guidance not just trading platform
Best Use Case / Ideal For… Long-term investors, delivery trades, cost-conscious traders, those who want minimal fees and stable platform Traders focusing on active trades, intraday, frequent trading — people who value ease & modern UI Investors who want more hand-holding, research/advisory support, hybrid services (somewhere between discount & full-service broker)
—
âś… Strengths & Trade-offs of Each Broker (What Works, What to Watch)
Zerodha
Why it’s often considered a top choice
Completely free equity-delivery brokerage — great if you’re investing for long-term rather than trading frequently.
Transparent pricing, straightforward fee structure.
Robust, stable trading platform and strong reputation — many consider it reliable and trustworthy.
Where it may lag
Less focus on hand-holding, research or advisory services — more “self-serve” investor/trader.
There is a Demat AMC (â‚ą300/year) and account opening fee (â‚ą200) which some other brokers may waive during promos.
Upstox
Why choose Upstox
Very competitive for active traders: good platform/tools, suitable for frequent intraday/F&O trading.
Often runs promotions for free account opening or lower initial costs — beneficial if you want to minimize upfront expense.
Where it may lag
Intraday / F&O brokerage percentage slightly higher than Zerodha — could matter if you trade big volumes.
Research/advisory support is basic — not ideal if you want stock-picking recommendations.
Angel One
Why it’s useful
Hybrid model: discount-broker rates + extra support like research, advisory, recommendations — good for investors who want guidance.
Often zero equity-delivery brokerage (depending on plan), which makes it attractive for long-term investors.
Good for investors who prefer a “fuller” broker experience (not just DIY), i.e. some human/algorithmic recommendations or advisory help.
Possible drawbacks
Platform/features sometimes considered less advanced compared to Zerodha / Upstox by hardcore traders.
Research/advisory tools may be overwhelming or not ideal for someone just starting out (some complexity, maybe extra cost).
—
🎯 Which Broker is Best for You — Based on What You Want
Your “best broker” really depends on what kind of investor/trader you are. Here’s a rough guideline:
âś… Go with Zerodha if you want a long-term, low-cost, transparent, self-managed investment route (delivery/investing over years).
✅ Go with Upstox if you plan to trade frequently — intraday, swing trades, F&O — and want modern tools & convenience at reasonable cost.
✅ Choose Angel One if you prefer a bit of guidance/advisory, want research/recommendations alongside brokerage services — especially helpful if you’re new or prefer more hand-holding.
—
⚠️ A Few Practical Considerations (Before You Decide)
While equity-delivery brokerage is zero on all three (in many plans), other charges (DP charges, transaction charges, stamp duty, GST) remain — so always check total cost, not just brokerage.
Platforms, app stability, ease of use — matter a lot in real-world trading/investment. A broker may have low fees but if the app/platform is clunky — that’s a trade-off.
If you expect to trade often (intraday/F&O) — small percentage differences (like 0.03% vs 0.05%) add up over time.
Advisory/research is a double-edged sword — can help beginners, but may be redundant if you prefer picking stocks yourself and keep costs low.
—
📝 My Recommendation (Given You’re in India — Maybe a First-Time / Medium-Term Investor)
If I were you, and my goal was to invest for medium-to-long term (say 1–5 years or more) — I’d go with Zerodha. It offers simplicity, low cost, transparent rules and is widely trusted.
But if I planned to trade frequently or try intraday / F&O — I might open a parallel account with Upstox (or use a combination: Zerodha for delivery/investments, Upstox for trading).
If I were a beginner and wanted some guidance and hand-holding — Angel One could be a good entry point.
—
If this blog makes sense to you give your feedback in comments.
At the end of the day
trading isn’t about timing in the market it’s about time in the market.