In this Groww vs Upstox Review and comparison, we will find out who is best stock broker among both by comparing different services such as brokerage, web/desktop based trading platform (Groww App vs Upstox Pro App), account opening charges, customer service, margin and lot more products and services both stock broker offers to its clients.

But before we begin let me brief you about a quick fact about both stock brokers i.e. the number of active clients and total clients according to the latest NSE Data.

Upstox is at no.2 position in terms of active clients in India recently they outpaced major banking full time brokerage ICICIDirect and Zerodha far behind, the only competition as of now is Groww.

Groww established just 9+ years ago i.e. 2016 first as a mutual fund distributor and in 2019 they made debut in stock broking. Looking at this number does shows the trust they have created for users in their products and services.

Whereas Upstox established in year 2012 and rest is history. Upstox have made significant changes indeed required in the stock broking industry with their tech innovation.

Just to let you know, you can read the detailed review of Upstox here, similarly checkout the complete Review of Groww here.

So without further delay, let us start first with Groww Vs Upstox overall review in 13 brief points and later below you can check them in detailed guide if you want.

Just to let you know the post may be little long as it covers all aspects of the Groww and Upstox stock broker in detail, you can move through table of contents for the info you are looking.

 

Groww Vs Upstox Overall Comparison:

I have already used both stock broker services as well as wrote the reviews about them in detailed way separately, based on my experience and facts below are things you can consider before opening an account with them.

1. Upstox have best trading platform for desktop/mobile app, you can do fundamental as well as technical analysis quite easily and is much better than groww trading platform.
2. Upstox also have third party other services such as Sensibull for option strategies, and Smallcase for portfolio investment, tickertape for fundamental research no such service as of now with groww.
3. Upstox and Groww both does send free stock market reports everyday to its users on registered email address as well as other good to know info for it’s users.
4. Upstox brokerages are lower than Groww, as Upstox offers free equity delivery trades as well. However for intraday trading both stock brokers have equal brokerage i.e. Rs.20 or 0.05% (Whichever is lower).
5. Groww as well as Upstox offers brokerage or say commission free mutual funds investment and platform for its users.
6. Account opening charges as well as AMC (Annual Maintenance Charges) is Zero for Groww, whereas Upstox is also giving free account opening for limited time period and AMC charges are Rs.25 per month which gets charged at the end of the year.
7. Call and trade charges are Rs.20 for Upstox, whereas no call and trade facility as of now with Groww, Other charges such as stamp duty, DP, transactions charges remains same for both.
8. You can expect good customer service from both stock brokers. Personally speaking Upstox is much better.
9. With Groww you can make investment in Gold, Fixed deposit US stocks such as Apple, Amazon, Google etc. online using Groww platform whereas Upstox is about to launch this facility for investing in US Stocks.
10. As of now you can only trade and invest in stocks (equity) and FNO segment at groww, Commodity, Currency segments are yet to be launched, whereas with Upstox you can trade and invest in all segments at NSE, BSE  & MCX.
11. Other than this you can make investment in T-Bills, SDLs, Fixed Income Bonds & NCDs, SGB’s with Upstox but this is not available as of now with Groww
12. If we talk about Margin at Groww vs upstox, Upstox gives4X Leverage for Equity Delivery, 5X Intraday Margin on stocks, whereas groww do not have any margin trading facility for delivery based trades.
13. Overall Upstox is much better than Groww in every aspect.

 

If you’re an investor who just wants to buy mutual funds or hold a few stocks, Groww will suffice. But if you’re serious about trading—especially in derivatives, intraday, or using market tools—Upstox is clearly the better platform.

It offers a perfect balance of affordability, functionality, and professional-grade tools that Groww lacks.

So, if you are more of a trader making intraday trades on daily basis and looking for investing and trading in other segments than you should go with Upstox without any doubt.

Ready to Get Started with Upstox?

👉 Click Here to Open a Free Upstox Account

What Makes Upstox the Best Choice?

• ✅ Limited Time Free Account Opening – Zero AMC, online KYC
• ✅ ₹0 Brokerage on Mutual Funds, IPOs, Gold Bonds
• ✅ Flat ₹20/order on Equity, F&O, Currency & Commodity
• ✅ Access to UpLearn – Learn strategies, trading & more
• ✅ Invest in P2P Lending & Fixed Deposits
• ✅ Tools for every level – from beginner to pro

🎯 Open Your Free Demat + Trading Account in Just 5 Minutes!

✅ 100% Online | ⏱ Quick Setup | 💰 ₹0 Opening Fee

 

Reason To Open Upstox Demat & Trading Account?

India’s Highest-Rated Stock Market App with 1.3 Cr+ users and growing 🚀

Looking for a powerful and feature-rich trading platform? Whether you’re a pro trader or a long-term investor, Upstox offers everything you need in one place.

🔁 Modes for Every Type of User

🧠 1. Upstox PRO – For Active Traders

Trade in F&O, Currency, Commodity, and Equity with advanced tools and insights:

🔍 Discover Trades with Ease:

• Option Chain Tool with customizable Greeks, Max Pain, PCR & more
• Smartlists: Top Traded, OI Gainers/Losers, Most Active
• Futures Heatmap: Visualize market trends
• Ready-Made Option Strategies built right into the app
• Currency & Commodity Futures in one platform

📊 Advanced Trade Analysis:

• TradingView + ChartIQ integration with 100+ indicators
• In-depth Open Interest (OI) analysis for indices
• Accurate FII + DII data for smarter decisions

⚙️ Powerful Order Tools:

• Place 20-leg Basket Orders instantly
• Automate risk with GTT + Trailing Stop-Loss
• Margin Pledge: Get up to 90% collateral margin
• 4X Leverage for Equity Delivery
• 5X Intraday Margin on stocks

📈 2. Upstox – For Long-Term Investors

Invest in Stocks, Mutual Funds, ETFs, IPOs, Bonds & more

📌 Stock Investing:

• Browse 5,000+ stocks with curated lists (Top Gainers, Movers, Sector-based)
• Fundamentals: PE ratio, dividend yield, analyst ratings
• Stock SIPs & 365-day limit orders
• 6-point checklist for better decisions
• Easy intraday and delivery trading

📊 Mutual Funds & ETFs:

• 15+ Mutual Fund categories, SIPs from ₹100
• Save more with Direct Plans
• Built-in SIP Return Calculators
• Smart ETF tracking: error, liquidity & more

🪙 Gold & Govt-Backed Investments:

• Sovereign Gold Bonds: 2.5% interest + tax-free maturity
• Access to T-Bills, SDLs, Fixed Income Bonds & NCDs

🚀 IPOs:

• Pre-apply for upcoming IPOs
• Track recently listed IPOs
• Easy UPI payments (GPay, BHIM, etc.)

🏁 Ready to Get Started?

🎯 Open Your Free Demat + Trading Account in Just 5 Minutes!

✅ 100% Online | ⏱ Quick Setup | 💰 ₹0 Opening Fee

 

Now, let us go dive deep to cover all different services and features of Grow and Upstox step by step and see who is best between both discount brokers by in depth analysis.

 

About Groww Vs Upstox:

Before we dig deeper to understand the various services offered it becomes utmost import to know in brief about Upstox and Groww history.

 

 

Harsh Jain is the Co-Founder & COO of Groww, he was also the product manager earlier with flipkart. Groww is based in Bangalore, Karnataka, Here is interesting fact about groww very few people know, the company use Groww as a brand name although it is registered by name Nextbillion Technology Private Limited.

Groww operates as an online investment platform and offers mutual funds, tax planning, investment management, and financial information services. As of now you can trade and invest in only stocks (equity) and FNO, Commodity, Currency segment is not available yet.

Moreover, groww also offers Digital gold, US Stocks, and Fixed Deposit as other investment options apart from stock broking. Groww has partnered with CDSL to provide the depository services to clients.

Groww offers trade execution facilities for equity cash segments on BSE and NSE. 

Groww founded in 2016, and had initially started as a direct mutual fund investment platform for users. By the time they have crated immense popularity among users in the mid-2020s, Groww expanded its product offering to include Equity trading.

On April 2022, Groww had partnered with more than 40 mutual fund houses and more than 6000+ mutual funds were available on the platform. As of Sep 2020, the company had raised $59 million in venture capital an now have more than 11 million users on its platform.

on 7, April 2021, Groww has raised $83 million in a Series D funding round led by Tiger Global, making the online investment platform the latest entrant in Unicorn list.

Groww is also backed by some of the well know investor companies such as Ribbit Capital, SEQUOIA, Combinator etc.

 

 

RKSV Securities later changed to Upstox was founded in 2011, it was founded by Ravi Kumar, Raghu Kumar and Shrinivas Viswanath. RKSV stands for the initials of their names (RK for Ravi and Raghu Kumar and SV for Shrinivas Viswanath) later in 2016 the name has been changed to Upstox.

Upstox is backed by none other than Ratan Tata, Kalaari Capital, GVK Davixa and Tiger Global, recently they have announced building technology and platform to trade in US markets as well by next year. Upstox is a SEBI registered discount broker and member of NSE, BSE, MCX.

You can trade and invest in different segments such as Equity, Derivatives, Commodity, Currency Futures, Mutual Funds, IPOs. They are depository participant (DP) for both NSDL and CDSL.

As I have already told you they have more than 9+ million active client base and total client is near about 10 million which makes them one of the reliable and best brokers for both trades and investors.

There office is registered at New Delhi and also has a correspondence office in Mumbai.

Recently Upstox have announced building technology and platform to trade in US markets as well.

Let us now move on to know the brokerage at Groww Vs Upstox

 

Groww Vs Upstox Brokerages Comparison:

Brokerage is the most important factor when you trade and invest, both Upstox and Groww have quite low brokerages. Let us know brokerage for both discount brokers one by one.

Groww Brokerage Structure:

At groww the brokerage charges are Rs.20 or o.o5% (whichever is lower) on every order executed.

 

 

What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100(100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20. Below is the screenshot taken from Groww brokerage calculator for intraday trading.

 

 

Whereas brokerage charges if you do investment i.e. taking delivery of the stocks to your demat account or doing Buy today sell tomorrow (BTST) trades the brokerage charges are same as of above.

 

Upstox Brokerage Structure:

Let us know about the brokerage of upstox,

What they mean is, suppose you bought stock xyz priced at Rs.100, quantity 100 on intraday basis,

so the total turnover would be bought 100, sold 100(100*200)=  20,000 on this amount they will charge either whichever amount is lower as 0.05% of 20000, is Rs.10 so they will charge that instead of flat Rs.20.

Moreover for investing in mutual funds there are no brokerage or commission is charged at upstox at all.

So , overall the brokerage for upstox is lower than groww.

 

Groww Vs Upstox Account Opening Charges:

To open a trading/demat account at Groww there are no charges Rs.0,Whereas the Annual Maintenance charge (AMC) is also kept at Zero.

Moreover there is 0% commission charges for investing mutual funds through Groww Platform. As compare to other stock brokers, they may charge some AMC charges for maintaining the account yearly, whereas Groww is not charging anything, this makes them apart for sure.

If we talk about Upstox, as a limited period offer you can open an trading and demat account for free

So, overall Groww and Upstox is best in terms of account opening prices as they are not charging much for account opening of trading/demat/mutual funds.

 

Groww Vs Upstox Account Opening Process Online:

The account opening process is online and it’s very seamless and smooth. Here is what you need to do:

To open an account with Groww online for free, you can sign up using your mobile number

Similarly, To open an account with Upstox online, you can sign up using your mobile number on their website

You will receive an OTP to your number and you can get started with the process.

You will be required to enter your PAN, Bank account details and personal details to continue with the sign-up.

Once you sign up you need to upload certain documents listed below:

1. Your PAN card

2. Your Aadhaar

3. To complete the e Sign process, you will have to authenticate it with an OTP. So, make sure you have the number linked to your Aadhaar handy. If not, you will not be able to complete the process. If the number linked to your Aadhaar is inactive, or if you don’t have any number linked, then you can visit your nearest Aadhaar Seva Kendra to get it updated.

4. A photo or scanned copy of your signature proof will be required to be uploaded.

6. Income proof – It is mandatory to submit income proof if you wish to trade in Futures and options – Equity, Commodity, and Currency.

1. You can submit one of the below documents.
2. Form-16
3. Income tax returns acknowledgment
4. 6-month Bank statement
5. Latest salary slip
6. Demat holding statement, or
7. A CA certifying your net worth

Note: The documents mentioned are for a Resident Individual Account.

 

 

 

Groww Vs Upstox Trading Platform Comparison:

The most important part of any trading platform is the tools and resources it has for technical and fundamental analysis. If we talk about Groww first below is what you can expect as an trader and investor:

Groww have trading platform for both desktop and mobile, the trading platform seems to provide great in-depth of financial or say good for doing fundamental analysis but lack in certain technical analysis aspects in comparison to upstox.

1. Groww Web based Trading Platform
2. Groww Mobile App for Android and OS

The web based version at groww is quite clean and well designed, as the UI (user interface) looks dynamic and smooth.

Talking in terms of what is unique about the platform specially in respect to  trading and investing, Groww platform offers great financial analysis for every stocks including the one listed in US (Nasdaq).

Checkout the image below to know more:

 

 

As, you can see in above image on left they have given the space for seeing charts sowing current trading price of stock in market, which includes candlestick charts  with volumes patterns overtime, you can see the historical data for up to 5 Years.

On the right side of the screen you can easily place the intraday or delivery trades in a click.

If you go downwards you can see other great financial insights such as performance of stock, other different brands of that company, About the company and lot more.

 

 

 

 

Company statistics such as, Profit & loss, balance sheet of company, cash flows, P/E ratio (price to earning), P/B ratio (price to book) Book value etc. are one click away on groww web based trading platform.

 

 

Now, I understand that Groww first being a investment platform for users have great financial information for users moreover if you are someone who loves doing intraday based trading it does requires technical indicators, tools and other resources, which at groww web based version is also available.

 

 

So, If you are someone who do trading and investing for short, medium or long term, Groww has everything in place for you. You may see more new features gets added and also the downloadable trading platform version in future.

 

Taking about Upstox they have partnered with three major desktop based trading platform apart from one browser/web based and mobile based platform:

If we talk about the desktop based trading platform at upstox unlike other stockbrokers who only either have a dedicated platform built in-house or partnered with others, Upstox offers it clients 3 desktop based platforms free.

1. NEST Trader
2. Dartstock
3. Foxtrader

All of them offers different functionalities, tools, resources however it won’t be possible to discuss all of them as the post will be become unnecessary long,  instead will see the features in brief and what to expect from them.

Upstox NEST Trader/Darstock/Foxtrader – They all are desktop based trading platform, which means you can download the software and can install it on you PC or laptop. The file size is only around 25 MB which is quite low and gets downloaded easily. You can use it by logging in through client id and password given after account opening an start placing trades online.

Upstox PRO WEB – It is a is a web or say browser based trading platform, which can be opened on any web browser you use. Just like a website but with all the tools and resources needed.

Upstox Pro Mobile App – It is a mobile based app,  you can use and place your trades in mobile itself instead on logging to your desktop or laptop.

As I can’t discuss all platforms alone in this post which by the way you can read in detailed upstox trading platform review here, we will only see the one downloadable version trading platform offered by upstox and their functionalities.

 

Upstox Dartstock Trading Platform Review:

Upstox has partnered with iDarts to offer you the Dartstock software for free, it offers valuable features and insights  that you won’t find it with any other broker, few of them are listed below:

Scanners: It comes with four predefined scanners which are:

• Trend scanners
• Live scanners
• Open vs. high/low
• Opportunity finders

These scanners help you set particular criteria and find the right stocks that meet your criteria.

 

 

Scans markets for trades with filters depending on Quantity, Traded Value, Index, Sector or personalized watchlist group. Scans markets for scrips in Equity & Futures segments. Highs & Lows of the day, 1 week, 2 weeks, 1 month, 1 year.

 

 

Spots trends when market is in Bullish Zone or a Bear Zone. you can also tracks changes in Open Interest in any particular scrip or whole index.

 

 

Check out Futures % Spreads between Near & Spot, Near & Next, Next & Spot. Shows volumes for all equity scrips in the watchlist. Shows % roll over for all equity scrips in the watchlist.

One can also create scrips breaching Resistance or Support levels automatically. Also create special watchlist for those scrips with exceptionally high traded volume.

 

 

One can also create scrips that have recovered most from a low and those that have fallen most from an intraday high.

 

 

You can Choose and use the best candlestick patterns or other different types of chart such as Renko chart, Bar chart etc.

Upstox trading platform also has all the required charting and more than 100+ indicators indicators like major ones MACD, BOLLINGER BANDS, RSI, S&R, Volume etc.

Overall the Dartstock desktop based trading platform offered by upstox is a great platform and has all components one may need for effective trading and investing.

You can also run fully automate strategies on charts & scanners. Generate planned and fast orders with the help of API from any third party such as Ninjatrader or Amibroker etc.

Apart from this upstox also has an API for developers who wants to create their own platform in programming languages such as python.

So, Overall Upstox trading platform whether desktop/web or mobile indeed is much better than Groww due to its tools and resources it has for users.

 

My Opinion On Groww Vs Upstox:

I hope you have now thoroughly understood most of the services offered by Groww and Upstox, if you ask me in Groww vs Upstox who is better?

Upstox is much better stockbroker than groww, it has made its place in the Indian stock broker industry with their fast and efficient trading platforms, sophisticated charting software’s combined with speed and reliability as well ease of opening the account online paperless.

They are now at the top 2nd position in India for having the most active clients and can be trusted without any doubt.

The charges and brokerages are very much reasonable in comparison to other brokers, if you are thinking of opening a trading/demat/mutual fund as well as bank account, than do not put any second thought.

If I have to rate upstox overall as an leading discount broker I will give it 9.3 out of 10,

On the other hand

Groww might be new in discount broking industry, but they do have more than 9 years of experience in providing a rich platform for users to invest in mutual funds scheme.

In my opinion they still need to do a lot to fulfill the stock broking requirements such as allowing  currency and commodity trading which is going to happen very soon.

Having said that, I like their USP of allowing clients to invest in US, their strength in financial data for fundamental analysis, Free mutual funds investments.

If I have to rate Groww after looking at there breakthrough pricing model for brokerages as well as other charges and experiencing there simple yet great user interface for trading platform I would give it 8.4 out of 10.

Therefore, if you are someone who do more of investing than trading than Groww is the perfect choice for you.

Upstox is the best choice as it is no longer just a low-cost broker—it’s evolved into a smart, trader-focused ecosystem. Whether you’re a beginner, swing trader, or options expert, it offers tools that grow with you.

If you’re tired of minimal tools or outdated workflows, Upstox gives you the perfect edge in the fast-moving world of Indian stock markets.

If you’re serious about trading or investing, Upstox is the platform you need to check out. Trusted by millions of users, Upstox is one of India’s top brokers—and here’s why:

✅ Ultra-Low Brokerage Fees – Just ₹20 per order for intraday & F&O trades (and zero brokerage on delivery trades!)
✅ Lightning-Fast Trading Platform – Intuitive, fast, and feature-packed for both beginners and pros
✅ Free Account Opening – No hidden charges, get started instantly
✅ Real-Time Charts & Tools – Make smarter decisions with professional-grade analytics
✅ Regulated & Backed by Big Names – Backed by Ratan Tata and regulated by SEBI

💡 Whether you’re just getting started or scaling your trades, Upstox gives you the edge with lower costs and powerful features.

👉 Join Upstox today and start your investing journey with a winning platform!
Click here to open your FREE account now

🔗 Don’t miss out—start smart, trade smarter with Upstox!

👉 Ready to switch or start fresh? Click here to open your free Upstox account now and experience the next generation of trading!

🎯 Open Your Free Demat + Trading Account in Just 5 Minutes!

✅ 100% Online | ⏱ Quick Setup | 💰 ₹0 Opening Fee

 

If, you have liked the content please do share it with your friends or on social media, as sharing do bring the good karma. If you have any questions or feedback you can leave them in comment box below.

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Here is the list of things as a beginner you should know, if you are thinking for doing intraday trading.

A brief understanding of

How share market works?

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Learn about the basics of candlestick chart patterns and how to use them for intraday trading and investing. You should also learn about the best moving averages to use for better trading result.

Checkout Mastering Intraday Trading: A Beginner’s Guide to Profitable Strategies in the Indian Stock Market

If you are a beginner in trading and investing, please read this amazing guide on How stock market works in India?

Learn the basics of option trading step by step here.

6 Reasons Why ETF Going To Be Next Big Thing In India

If, you have liked the content please do share it with your friends or on social media, as sharing do bring the good karma. If you have any questions or feedback you can leave them in comment box below.

Note: Please do your own research and make investment. Moneycontain will not be responsible for any of your losses at all. The point made is for educational purpose only and intended to give information. All investments are subject to risks, which should be considered prior to making any investments.