Upstox and Groww are two leading discount brokers in India that offer you to invest in stocks, mutual funds, and other investment products. Both stockbrokers offer the same features in many ways. You may find it difficult to make difference between the two based on their annual charges, brokerage charges, or leverage.
The decision of which option is best for you can only be made based on your individual investment needs. Let’s understand the difference
Upstox vs Groww: Which is Better for You
Upstox allows you to invest in stocks, mutual funds, and IPOs. You can trade in equity, commodity, and currency segments in Upstox.
Groww doesn’t offer to trade in commodity and currency segments. But you can invest in US stock from India through Groww.
Upstox announced the US stock investment from India about 3 years ago, but there is still no progress on it.
Upstox wins in terms of trading platforms, on the other side, Groww wins in terms of customer support.
You can choose based on your investment preference like if you want to invest in US stock then go with Groww. For trading in currency and commodities, Upstox is the right option for you.
If you only want to invest or trade only in equities then you can decide based on your preference between the trading platform and customer support.
You would like to read the detailed comparison between 5paisa vs Upstox: which is better.
Let’s compare Groww and Upstox side by side for each feature:
Upstox vs Groww Investment Products
You can trade in equities only with Groww which includes equity delivery, Intraday, and F&O trading. You cannot trade in currency and commodity segments with Groww. You can invest in Groww.
- Stocks
- Mutual funds
- IPO
- US Stocks
- Equity F&O
Upstox offers a wide range of products as compared to Groww. You can trade in all segments including currency and commodity with Upstox Demat Account. Investment products offered by Upstox include
- Stocks
- Commodity
- Currency
- Mutual Funds
- IPOs
- F&O in all segments
Winner – Upstox
If you want to invest majorly in mutual funds then you can check the list of best brokers for mutual funds in India.
Upstox vs Groww Account Charges
Groww and Upstox offer free account opening and zero annual maintenance charges.
| Upstox | Groww | |
| Account Opening | Free | Free |
| AMC | 0 | 0 |
I am not sure that Upstox wouldn’t change the offer in the future as earlier, Upstox keeps changing their offers on account opening and AMC. If you Upstox account with Rs 0 AMC, you may be charged for AMC fee in the future.
Winner – Both
Upstox vs Groww Brokerage Charges
Upstox and Groww charge the same brokerage fees, a lower of Rs 20 or 0.05% on equity intraday, Futures, and Options. You can check the details of all Upstox charges and Groww charges here.
Groww charges the same brokerage on the equity delivery trades but Upstox charges a lower of Rs 20 or 2.5% on the equity delivery trades.
Groww doesn’t provide trades in currency and commodities.
| Groww | Upstox | |
| Equity Delivery | Lower of Rs. 20 or 0.05% | Rs. 20 or 2.5% whichever is lower |
| Equity Intraday | Lower of Rs. 20 or 0.05% per executed order | Lower of Rs. 20 or 0.05% per executed order |
| Equity Futures | Flat Rs. 20 per executed order | Lower of Rs. 20 or 0.05% per executed order |
| Equity Options | Flat Rs. 20 per executed order | Flat Rs. 20 per executed order |
| Currency Futures | Not Applicable | Lower of Rs. 20 or 0.05% per executed order |
| Currency Options | Not Applicable | Flat Rs. 20 per executed order |
| Commodity Futures | Not Applicable | Lower of Rs. 20 or 0.05% per executed order |
| Commodity Options | Not Applicable | Flat Rs. 20 per executed order |
Winner
Depends on your investment requirements. If stock delivery below Rs 40,000 per transaction is your requirement then Groww is a better option.
For active trading in futures, Upstox is a better option because Upstox charges a lower of 0.05% or Rs 20. Whereas Groww charges a fixed brokerage fee of Rs 20. You can understand all Groww charges in this detailed post.
Upstox vs Groww Leverage
After SEBI regulations on peak margins from 1st September 2021, both Upstox and Groww provide the same margin of up to 5x leverage for intraday.
You can trade equity using Margin intraday square off (MIS) and Cover Order (CO) to get up to 5 times leverage for intraday. So, if you have Rs 20,000 lakh, you can buy or short stocks for intraday up to Rs 1 lakh with both Upstox & Groww.
There is no leverage offered by any stockbroker for equity F&O, currency, and commodities segments.
Winner – both are the same
Margin Trading Facility
Upstox offers a margin trading facility which is like a short-term loan. On activating MTF, 50% of the transaction value will be used from your deposited funds, and the remaining 50% will be borrowed from Upstox.
For example, if you place an order of Rs 2,00,000, then Rs.1,00,000 will be used from your Upstox funds, and the remaining Rs 1,00,000 will be paid through Upstox MTF. In simple words, you can buy shares of 2x the value of your Upstox wallet.
In Upstox, MTF is fixed at 50% of the transaction value. You can borrow up to Rs. 5 lakhs under MTF in Upstox and you can hold stocks for 150 days under MTF.
Upstox MTF charges
You have to pay Rs.20 per day for every Rs. 50,000 borrowed which is separate from the brokerage.
Groww doesn’t provide a Margin trading facility. Groww only provides collateral margins on pledging stocks, ETFs, and mutual funds that you hold.
Winner – Upstox
Check out – Indmoney app review
Upstox vs Groww Trading Platforms
You can expect the same trading platform experience with both Ustox and Groww.
Upstox provides simple, clutter-free, and easy-to-use platforms. Upstox Pro, a web-based platform offers a powerful combination of in-depth research, unlimited watchlists, and smart filters. You get a range of advanced trading tools, such as in-depth charting, technical indicators, GTT orders, and basket orders.
You can invest in one place to invest in stocks, mutual funds, and even IPOs using Upstox pro mobile app or Nest trading software.
If we talk about Groww, the earlier Groww customers complained about the lag in the real-time data. Many customers switch instantly from Groww to other brokers due to this reason.
But now Groww has improved its trading platforms. Groww offers a simple and intuitive web-based platform and a mobile app. The platform is designed to be user-friendly and easy to navigate. However, it lacks the advanced trading features that Upstox offers.
Groww doesn’t provide many options to customize your orders. Groww has recently launched GTT orders making stock investment more flexible and personalized for you
Winner – Upstox with a slight edge.
You can check out our detailed Upstox review to understand all the pros and cons of a Upstox trading account.
Upstox vs Groww Customer Support
In my research report on the top 20 stockbrokers in India, Groww has the lowest percentage of complaints filed by customers with the stock exchange among the top discount brokers and full-service brokers.
In 2022-23, a total of 237 complaints are registered with exchange against Groww from a customer base of 5301449.
Whereas 379 complaints are registered with exchange against Upstox from a customer base of 3158595.
| Customers | Complaints | % | |
| Groww | 5301449 | 237 | 0.004% |
| Upstox | 3158595 | 379 | 0.012% |
You can see Upstox has 3 times more complaints filed with the exchange as compared to Groww. An indication of poor customer support.
Groww has a dedicated escalation matrix to resolve customer issues as mentioned in the table below.
| Designated Officer | Contact | Email Id | |
| Customer care | Customer Service | 9108800604 Mon to Fri (9 AM – 7 PM) Sat (9 AM – 2 PM) | [email protected] |
| Head of Customer care | Mr. Sunil Bissa | 8046161210 Mon to Fri (9 AM – 7 PM) | [email protected] |
| Compliance Officer | Mr. Boudhayan Ghosh | 8061933732 Mon to Fri (9 AM – 7 PM) | [email protected] |
| Designated Director | Mr. Santosh Jayaram | 01161195318 Mon to Fri (9 AM – 7 PM) | [email protected] |
Upstox provides general customer support primarily for account opening issues.
| Upstox Customer Care | |
| Account opening number | 91-22-6130-9999 |
| Account opening email | [email protected] |
| Trading issues | 022 4179 2999, 022 6904 2299, 022 7130 9999 |
| Ticket raise | Upstox ticket to raise |
Winner – Groww
You may like to read – Groww vs Zerodha, which is better
Why Upstox is Better than Groww
Upstox is better than Groww for trading in the commodity and currency segments. You wouldn’t get the option to trade in these segments with Groww.
Upstox trading platforms have an edge over Groww trading platforms.
Why Groww is Better than Upstox
If you want to invest in US stock or want to make small investments up to 40,000 per transaction in stock delivery then Groww is better for you.
The Groww customer support is better than Upstox.
Upstox vs Groww Related Questions
Yes, Upstox offers users the ability to invest in mutual funds. It offers a range of mutual funds to choose from and allows users to invest in SIPs (Systematic Investment Plans).
No, Upstox does not charge an annual fee.
Groww is a great choice for long-term investing as it offers a range of investment products to choose from and low investment fees. However, Upstox may be a better choice for active traders who want access to advanced trading features and tools.
Groww offers better customer support as compared to Upstox.
Yes, you can transfer your stocks from Upstox to Groww by following a few simple steps. You will need to fill out a transfer form and submit it to both Upstox and Groww.
Groww makes money by charging a fee for its value-added services such as advisory services and account management services.
Yes, Upstox offers a demo account that allows users to practice trading with virtual money before they start trading with real money.
No, currently Groww does not offer the ability to invest in IPOs.
Yes, Upstox is a safe and secure platform to use. It is regulated by the Securities and Exchange Board of India (SEBI) and has robust security measures in place to protect user data and funds.
