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Zerodha vs Upstox: which is cheaper?

Zerodha is cheaper for delivery. They cost about the same (within ₹1) for intraday, futures, options, currency futures, currency options, commodity futures and commodity options. On a ₹1 lakh delivery buy and sell, Zerodha costs ₹237.82 and Upstox ₹293.28 including taxes and the DP charge.

Checked 31 Oct 2026. Totals include 18% GST, STT, exchange and SEBI fees, stamp duty and the DP charge on delivery sells.

Who is cheaper, segment by segment

Each trade is one buy order and one sell order at the size shown.

Segment and tradeZerodhaUpstoxCheaper
Equity delivery₹1 lakh buy + sell₹237.82₹293.28Zerodha by ₹55.46
Equity intraday₹1 lakh buy + sell₹82.68₹82.68About the same
Equity futures₹10 lakh contract₹612.75₹612.75About the same
Equity options₹10,000 premium, buy + sell₹70.91₹70.91About the same
Currency futures₹85,000 contract, buy + sell₹48.19₹48.19About the same
Currency options₹1,000 premium₹47.94₹47.94About the same
Commodity futures₹6 lakh contract, buy + sell₹150.35₹150.35About the same
Commodity options₹10,000 premium₹62.39₹62.39About the same

Zerodha vs Upstox on your own trade

Enter your own trade size. Totals include brokerage, 18% GST, STT, exchange and SEBI fees, stamp duty and, on delivery sells, the DP charge.

On this tradeZerodhaUpstox
Brokerage₹0.00₹40.00
GST on brokerage₹0.00₹7.20
STT₹200.00₹200.00
Exchange and SEBI fees, with GST₹7.48₹7.48
Stamp duty₹15.00₹15.00
DP charge on the sell₹15.34₹23.60
Total₹237.82₹293.28

Zerodha is ₹55.46 cheaper on this trade.

Small and large trades

Flat-fee plans cost the same at any size; percentage and per-lot plans grow with the trade.

TradeZerodhaUpstoxCheaper
Equity delivery₹10,000, buy + sell₹37.59₹93.05Zerodha by ₹55.46
Equity delivery₹5 lakh, buy + sell₹1,127.75₹1,183.21Zerodha by ₹55.46
Equity delivery₹25 lakh, buy + sell₹5,577.37₹5,632.83Zerodha by ₹55.46
Equity intraday₹5 lakh, buy + sell₹224.61₹224.61About the same
Equity intraday₹25 lakh, buy + sell₹934.23₹934.23About the same
Equity futures₹25 lakh contract, buy + sell₹1,461.07₹1,461.07About the same
Equity options₹25,000 premium, 5 lots, buy + sell₹106.47₹106.47About the same
Equity options₹1 lakh premium, 20 lots, buy + sell₹284.29₹284.29About the same

Rate cards side by side

ChargeZerodhaUpstox
Equity delivery₹0₹20 per order
Equity intraday₹20 or 0.03% (whichever is lower)₹20 or 0.1% (whichever is lower)
Equity futures₹20 or 0.03% (whichever is lower)₹20 or 0.05% (whichever is lower)
Equity options₹20 per order₹20 per order
Currency futures₹20 or 0.03% (whichever is lower)₹20 or 0.05% (whichever is lower)
Currency options₹20 per order₹20 per order
Commodity futures₹20 or 0.03% (whichever is lower)₹20 or 0.05% (whichever is lower)
Commodity options₹20 per order₹20 per order
DP charge per sell₹15.34₹23.60
Demat AMC₹300/yr (₹0 BSDA under ₹4L)₹300/yr

Check before you choose

Zerodha

  • Accounts that break the 50% cash-margin rule pay ₹40, not ₹20, per intraday F&O order from 1 Apr 2026. A debit balance adds ₹20 per order.
  • Free delivery is for individuals only; HUFs, firms and companies pay 0.1% or ₹20.
  • Call & trade and auto square-off: ₹50 per order.

Upstox

  • Delivery costs a flat ₹20 per order, even on a small buy.
  • Stock F&O that ends in physical settlement: 0.25% brokerage on the settled value (0.1% if netted off).
  • Auto square-off and call & trade: ₹75 + GST per order.

Common questions

Which is cheaper, Zerodha or Upstox?

Zerodha is cheaper for delivery. They cost about the same (within ₹1) for intraday, futures, options, currency futures, currency options, commodity futures and commodity options. On a ₹1 lakh delivery buy and sell, Zerodha costs ₹237.82 and Upstox ₹293.28 including taxes and the DP charge. Rates checked 31 Oct 2026.

More comparisons

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