Zerodha Vs Uptox ?

Discount broking:

Zerodha pioneered the concept of discount broking in India. Discount broking means carry out trades in the market at a flat rate or very low brokerages. Before the advent of discount broking in India, the conventional brokers used to charge very high brokerages on every buy and sell trade and the brokerages are also vary depending upon the size of a trade. The conventional brokers charge high brokerages as their overhead cost was high due to a large number of brick and mortar offices across India. Discount brokers use the technology to their advantage, thereby, reducing the overall cost of operations and pass on the benefit to the investors.

About Zerodha:

Founded in 2010, by Nitin Kamath, Zerodha is the market leader in the Indian broking industry. Zerodha with the new concept of discount broking has completely shaken the industry and within 10 years become India’s No.1 broker with ~9-10 lakh active clients on its platform.

About Uptox:

Founded in 2011, Uptox is also a discount brokerage firm and is backed by Ratan Tata, Kalaari Capital, and GVK Davix. The Uptox has also become quite popular in the last 10 years and as on 31.03.2020, data sourced from NSE has ~ 1 lakh, active clients, on its platform. Uptox makes all trading apps and other platforms in-house using the latest technologies. 

Zerodha Vs Uptox

Particulars Zerodha Uptox
No. of Active Clients ~9 Lakhs ~ 1 Lakhs
Opening of demat Account a) Online
b) Offline Mode
a) Online
b) Offline Mode
Account Opening Charges a) Rs. 200 – for Trading & demat accounts.
b) Rs. 100 – for Commodity account.
a) Rs. 150 – for Trading & demat accounts.
b) Rs. 150 – for Commodity account.
Annual Maintenance Rs. 300 Rs. 150
Trading Platform Kite is the trading app.
The URL is (https://kite.zerodha.com/)
Pro Uptox is the trading app.
The URL is https://pro.upstox.com/
Brokerage 1. Delivery is free.
2. For Intraday and F&O trade-
Flat fee of Rs. 20 or 0.03%( whichever is lower)
1. Delivery is free.
2. For Intraday and F&O trade-
Flat fee of Rs. 20 or 0.05% ( whichever is lower)

Note: If you open Demat account offline, an additional Rs.300 needs to be paid apart from the charges mentioned above. 

Above we have discussed Zerodha and Uptox, their comparison on pricing, account opening and annual maintenance charges, the platform they provide, and lastly, how many active clients they are handling. If we look carefully, Zerodha in the last 10 years has become quite big as compared to Uptox, and the size is approximately 10x.

Now, the question is which broker to choose from? The answer is very simple;

1. Check the performance of the trading app.

2. Customer service.

The above two are the most important ingredients which one should check before opening a Demat account. Zerodha used to be the most favored broker among the trader’s community a few years back. However, lately due to a large number of clients opening Demat accounts daily and the total user base has become so huge, a lot of traders are facing issues in using the app, and many times they are not able to complete the trade due to glitches in the software. As the customer base is increasing, the back end customer service is also getting deteriorated. So, in short, Zerodha which was used to be darling of traders slowly losing its sheen due to its incapability in handling huge clients’ data. Having said that, Zerodha is working day and night to improve the technology to serve the customer in a better way considering the database they are having and in the future, more and more users can be served on the platform.

Uptox with its cutting edge technology and good customer service slowly and steadily making its presence felt in the broking industry. In 2016, Uptox has introduced the seamless option of the opening of Demat account with just Aadhar and PAN card.

Rating

Parameters Zerodha Uptox
Trading platform Excellent Excellent
Overall User experience Excellent Excellent
Customer Service Above Average Excellent