HomeFINANCEUpstox Vs Zerodha | Hidden Charges & Brokerage

Upstox Vs Zerodha | Hidden Charges & Brokerage

Online brokerage apps may seem like the best option to use since they have no brokerage charges. But that does not mean you will earn a full profit on your stock trading from these apps. Although convenient and easy to use, brokerage apps often have hidden charges which are important for the user to know about. This article discusses such hidden charges and compares different brokerage apps. Read on to learn which brokerage app is the best one for you.

Types of brokers

In this article we compare two types of brokers:

  • Discount brokers – Example, Upstox and Zerodha. These do not have as many maintenance charges as full service brokers and hence can be a better option.
  • Full Service broker – Example, HDFC. They provide some extra services such as buy and sell calls, stock order placement through phone calls, etc.

We will compare these different types of brokers in the following sections in detail.

Zerodha Vs Upstox Vs HDFC – Brokerage Charges Comparison

Account opening fees and AMC

DISCOUNT BROKERDISCOUNT BROKERFULL SERVICE BROKER
CRITERIAZERODHAUPSTOXHDFC
Account opening chargesYou need to pay Rs 500 for opening an account.
But for just Equity trading you can pay Rs 300 and for just Commodity trading you can pay Rs 200
It claims that their account opening charges are zero but you need to pay Pre-Brokerage plan charges of minimum Rs 249.
But you also get Rs 400 worth of brokerage credits in your demat account for it.
It charges Rs 999 for opening demat account.
This charge is usually high for such full service brokers.
AMC (Annual Maintenance Cost)Rs 300 + 18% GST per yearRs 300 + 18% GST per yearRs 750 + 18% GST per year

Brokerage charges for intraday trading

Intraday stands for “within the day.” This term is usually used in the commercial world for securities such as stocks and ETFs which are traded in the market during the regular business hours. This is significant for day traders who wish to make multiple stock trades in the same trading session. Such traders settle all their stock positions before the market closes for the day. Furthermore, the broker may apply some brokerage charges on your demat account and the government may apply some other taxes suchas exchange transaction charges and GST on your stock trading.

DISCOUNT BROKERDISCOUNT BROKERFULL SERVICE BROKER
CRITERIA – INTRADAYZERODHAUPSTOXHDFC
Brokerage charges0.03% or Rs 20 per order traded, whichever is lower0.05% or Rs 20 per order traded, whichever is lower0.05% with no upper cap.
Thus, the higher the trading amount, the more brokerages charges you will pay.
Some full service brokers can charge as high as 0.3% as brokerage charges.
Exchange Transaction chargesNSE: 0.00325%
BSE: 0.003%
NSE: 0.00325%
BSE: 0.003%
NSE: 0.00325%
BSE: 0.003%
GST on Brokerage charges18%18%18%
GST on Exchange Transaction charges18%18%18%
STT (securities Transaction Tax)0.025% on SELL only0.025% on SELL only0.025% on SELL only
SEBI Turnover charges0.0001% (BUY and SELL)0.0001% (BUY and SELL)0.0001% (BUY and SELL)
Stamp Duty charges, applicable state-wiseExample, 0.012% in RajasthanExample, 0.012% in RajasthanExample, 0.012% in Rajasthan

Brokerage charges for equity delivery trading

Equity delivery or delivery based trading is the second method of trading stocks in the share market. In an equity delivery, you buy some shares and hold them for longer than one day in your demat account. Moreover, you can hold the shares for as long as you want, after they have been delivered to you.

DISCOUNT BROKERDISCOUNT BROKERFULL SERVICE BROKER
CRITERIA – EQUITY DELIVERYZERODHAUPSTOXHDFC
Brokerage charges000.5%, which is very high
when the trading amount is high.
DP (Depository Participant) charges, levied per scrip/companyCDSL: Rs 5.5
Zerodha: Rs 8
CDSL: Rs 5.5
Upstox: Rs 13
CDSL: Rs 5.5
HDFC: Max Rs 24.50
Exchange Transaction chargesNSE: 0.00325%
BSE: 0.003%
NSE: 0.00325%
BSE: 0.003%
NSE: 0.00325%
BSE: 0.003%
GST on Brokerage charges18%18%18%
GST on Exchange Transaction charges18%18%18%
GST on DP charges18%18%18%
STT (securities Transaction Tax)0.1% on SELL only0.1% on SELL only0.1% on SELL only
SEBI Turnover charges0.0001% (BUY and SELL)0.0001% (BUY and SELL)0.0001% (BUY and SELL)
Stamp Duty charges, applicable state-wiseExample, 0.012% in RajasthanExample, 0.012% in RajasthanExample, 0.012% in Rajasthan

Brokerage charges calculator

To know the exact charges applicable on your trading on Zerodha, open the Zerodha Brokerage Calculator. You can access different calculators for intraday equity, delivery equity, futures, options, currency and commodities.

Put in your numbers for Buy, Sell and Quantity under intraday equity or delivery equity, as the case may be for you. Additionally, select between NSE and BSE as your stock exchange.

Finally, scroll down to view the different charges which will be applicable on your trading. Thus, this will give you your Net P&L amount.

Furthermore, to check for stamp duty and DP charges, click on the Contract Note option below the trading method. Next, select your state.

Finally, click on Equity and currency to view the additional charges.

Similarly, for checking Upstox, go to Upstox Brokerage Calculator. Consecutively, select between Intraday or Delivery. Then input your state ad numbers for Quantity, Buy Price and Sell Price.

Which broker is the better option?

We suggest you to go for a discount broker.

You can open a demat account on Zerodha from Open Demat Account | Share Trading | Zerodha Kite App.

Alternately, you can choose Upstox from FREE Upstox Demat a/c and How To Buy Shares With Upstox.

Watch the complete analysis below.

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Heena Siddique
Heena Siddique
Bibliophile. Turophile. Foodie. Tea enthusiast. Shopaholic. Sitcom addict. Movie buff.

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