Groww vs Upstox Comparison (2026)
Side-by-side comparison of Groww and Upstox: brokerage fees, account maintenance charges (AMC), IPO application speed, and trading app features.
Charges & Feature Comparison Table
| Parameter | Groww | Upstox |
|---|---|---|
| Account Opening Fee | ₹0 (Free) | ₹0 (Free) |
| Annual Maintenance (AMC) | ₹0 (Zero AMC for life) | ₹0 (Zero AMC) |
| Equity Delivery Brokerage | ₹20 or 0.05% | ₹20 or 2.5% |
| Equity Intraday Brokerage | Flat ₹20 or 0.05% | Flat ₹20 or 0.05% |
| Futures & Options (F&O) | Flat ₹20 per order | Flat ₹20 per order |
| IPO Application Flow | Fastest 2-tap IPO application directly on mobile | Pre-apply up to 3 days early with detailed company financials |
| Pre-Apply IPO Feature | Yes (pre-apply before issue officially opens) | Yes (up to 3 days in advance) |
| HNI / Shareholder Bidding | Yes (up to ₹5 Lakh UPI limit) | Yes |
| Active NSE Clients | 10M+ active clients (#1 in India) | 2.5M+ active clients |
Groww — Pros & Cons
India's #1 broker by active users, offering zero opening fees and a beginner-friendly app.
Pros:
- 100% Free account opening and lifetime zero AMC
- Simplest UI in India for first-time equity and mutual fund investors
- Instant 2-tap IPO bidding with fast UPI mandate triggers
Cons:
- Charges ₹20 or 0.05% on equity delivery
- Basic charting compared to dedicated desktop terminals
Upstox — Pros & Cons
Tech-first trading platform backed by Ratan Tata, featuring advanced TradingView integration.
Pros:
- Integrated Pro TradingView charts with direct order placement
- Lifetime zero AMC and zero account opening fee
- Early pre-apply IPO window gives you a head start
Cons:
- Equity delivery is not free (₹20 per executed order)
- Customer support can be slow during market spikes
Final Verdict: Which Broker Should You Choose?
For Long-Term Investors & Listing Gain Sellers: If your priority is selling allotted IPO shares at zero brokerage, or building a long-term portfolio without trade commissions, Groww is advantageous because equity delivery is 100% free.
For Casual IPO Applicants & Beginners: If you only open a demat account to apply for IPOs occasionally and do not want fixed annual charges eating into your account, Groww offers lifetime zero AMC and a frictionless mobile bidding experience.
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