Broker comparison
Zerodha vs Upstox (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Zerodha and Upstox from published official pricing and features — no affiliation with either broker.
| Metric | Zerodha | Upstox |
|---|---|---|
| Delivery brokerage | ₹0 (free) | ₹20 or 2.5% per order (whichever is lower) |
| Intraday brokerage | ₹20 or 0.03% per order (whichever is lower) | ₹20 or 0.05% per order (whichever is lower) |
| F&O brokerage | ₹20 per order (flat, options) | ₹20 per order (flat) |
| AMC | ₹300 per year | ₹0 first year, then ₹300 + GST per year |
| Account opening | ₹200 (online) | Free (online) |
| Trading API | Kite Connect — See official Kite Connect pricing page | Upstox API — Free (per official developer page) |
| Reported execution speed | ≈ 80 ms (median) | ≈ 135 ms (median) |
| Algo support | Yes - via Kite Connect API | Yes - via Upstox API |
| Platforms | Kite (web), Kite (mobile), Console, Coin | Upstox app, Upstox web (Pro) |
| Best for (published) | Self-directed investors and traders who want low, predictable costs and a stable platform. | Intraday and options traders who prioritise app speed and a free API. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
What the published data shows
Zerodha publishes free equity delivery; Upstox does not (per official pricing at review). Both publish execution-speed figures (Zerodha: ≈ 80 ms (median); Upstox: ≈ 135 ms (median)) — methodologies differ; see each profile before comparing on speed alone.
Tools & profiles
- Zerodha full profile
- Upstox full profile
- Zerodha brokerage calculator
- Upstox brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
Related comparisons
- Zerodha vs Groww
- Zerodha vs Angel One
- Zerodha vs Dhan
- Zerodha vs Fyers
- Zerodha vs ICICI Direct
- Zerodha vs Kotak Neo (Kotak Securities)
Frequently asked questions
Zerodha vs Upstox: which has lower delivery brokerage?
At our last review, Zerodha published delivery brokerage as "₹0 (free)" and Upstox as "₹20 or 2.5% per order (whichever is lower)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Zerodha or Upstox have a trading API?
Both have documented APIs at review time: Zerodha (Kite Connect), Upstox (Upstox API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Zerodha or Upstox?
Zerodha publishes ≈ 80 ms (median); Upstox publishes ≈ 135 ms (median). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- Zerodha - official website - https://zerodha.com
- Zerodha - official pricing - https://zerodha.com/charges/
- Upstox - official website - https://upstox.com
- Upstox - official pricing - https://upstox.com/brokerage-charges/