Zerodha Vs Upstox Vs Fyers: Which one is better?
Last updated August 22, 2026
This IPO News reference page covers “Zerodha Vs Upstox Vs Fyers: Which one is better?”. The page is organized around compare stock brokers side-by-side, compare zerodha vs upstox vs fyers on service, account opening charges and amc, compare zerodha vs upstox vs fyers on trading & demat account opening charges, about brokerage plans. IPO News presents the structured facts and tables in its own layout and wording.
Topics Covered
- Compare Stock Brokers Side-by-Side
- Compare Zerodha vs Upstox vs Fyers on Service
- Account Opening Charges and AMC
- Compare Zerodha vs Upstox vs Fyers on Trading & Demat Account Opening Charges
- About Brokerage Plans
- Compare Zerodha vs Upstox vs Fyers on Plan Options
- Account Opening
- Share Broker's Transaction Charges
- Compare Zerodha vs Upstox vs Fyers on Transaction Charges
- Account Features
- Compare Zerodha vs Upstox vs Fyers on Account Features
- Trading Platform
- Compare Zerodha vs Upstox vs Fyers on Trading Platform
- Broker Ratings by Users
- Compare Zerodha vs Upstox vs Fyers on User Rating
- Investment Offerings
- Compare Zerodha vs Upstox vs Fyers on Investment Offerings
- Margin Trading Facility
- Compare Zerodha vs Upstox vs Fyers on MTF
- API
- Compare Zerodha vs Upstox vs Fyers on API Details
- Customer Service Offered
- Compare Zerodha vs Upstox vs Fyers on Customer Service
- Tips/Research/Reports Published
- Compare Zerodha vs Upstox vs Fyers on Research Reports, Tips
- Demat Account
- Compare Zerodha vs Upstox vs Fyers on Demat Account
- Special Offers, Advantages, Disadvantages
- Compare Zerodha vs Upstox vs Fyers on Special Offers and Promotion
- Ready to start trading?
Key Facts
- India's trusted financial research platform since 2015. Live IPO GMP, subscription data, allotment status, Rights Issues, NCDs and unbiased stock broker reviews.
- Invest across segments under one roof – Stocks (NSE/BSE), F&O, commodity, IPOs, mutual funds, NPS
- Trade on BSE, NSE, and MCX
- Rs 20 fixed brokerage on all segments
- Cheapest Rs 50/order brokerage on NRI trading
- High call and trade and auto-square off charges = Rs 75 per order
- No 3-in-1 account offering
- 💹 Max ₹20 per Order Brokerage on Intraday, F&O, Commodities & Currency
- 📱 Kite & Coin – #1 Trading Platform & Mobile App
- 💹 Max ₹20 per Order Brokerage on All Trades
- 💹 Max ₹20 per Order Brokerage on Delivery, Intraday, F&O, Commodities & Currency
- Last Updated on Wed, May 20, 2026
Data Tables
| Segment | Zerodha | Upstox | Fyers |
|---|---|---|---|
| Trading Account Opening Fees | Free | Promotion offer: Free | Free |
| Trading AMC | Free | Free | Free |
| Demat Account Opening Fees | Free | Free | Free |
| Demat AMC | Rs 300 PA (Free for 1st year) | Rs 300 Per annum (Free for 1st year) | Free |
| Provide DP Service | Yes | Yes | Yes |
| Plan Types | Zerodha | Upstox | Fyers |
|---|---|---|---|
| Multiple Plans | No | No | Yes |
| Monthly Plans | No | No | No |
| Yearly Plans | No | No | No |
| Zerodha | Upstox | Fyers | |
|---|---|---|---|
| Account Opening Request | Link to open account | Link to open account | Link to open account |
| Transaction Charges Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| Equity Delivery | NSE:297 | BSE:375 Per Cr | NSE:297 | BSE:375 Per Cr | NSE:297 | BSE:375 Per Cr |
| Equity Intraday | NSE:297 | BSE:375 Per Cr | NSE:297 | BSE:375 Per Cr | NSE:297 | BSE:375 Per Cr |
| Equity Futures | NSE:173 | BSE:0 Per Cr | NSE:173 | BSE:0 Per Cr | NSE:173 | BSE:0 Per Cr |
| Equity Options | NSE:3503 | BSE:3250 Per Cr on premium | NSE:3503 | BSE:3250 Per Cr on premium | NSE:3503 | BSE:3250 Per Cr on premium |
| Currency Futures | NSE:35 | BSE:45 Per Cr | NSE:35 | BSE:45 Per Cr | NSE:35 | BSE:45 Per Cr |
| Currency Options | NSE:3110 | BSE:100 Per Cr | NSE:3110 | BSE:100 Per Cr | NSE:3110 | BSE:100 Per Cr |
| Commodity | MCX: 4180| NSE: 100 Per Cr | MCX: 4180| NSE: 100 Per Cr | MCX: 4180| NSE: 100 Per Cr |
| Brokerage Charges | Complete Brokerage Plans for zerodha | Complete Brokerage Plans for upstox | Complete Brokerage Plans for fyers |
| Account Features Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| 3 in 1 Account | No | Yes | No |
| Charting | Yes | Yes | Yes |
| Algo Trading | Yes | Yes | Yes |
| SMS Alerts | No | Yes | No |
| Online Demo | Yes | Yes | Yes |
| Online Portfolio | Yes | Yes | No |
| Margin Trading Funding Available | Yes | Yes | No |
| Combined Ledger for Equity and Commodity | Yes | Yes | Yes |
| Intraday Square-off Time | 3:20 PM | 3:15PM | 3:15 PM |
| NRI Trading | Yes | No | Yes |
| Other Features | NIL | NIL | Fyers 30 Day Challenge |
| Trading Platform Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| Web Trading Platform | Yes | Yes | Yes |
| Web Trading Detail | Zerodha Kite Web | https://pro.upstox.com/ | Fyers Web |
| Web Trading Demo | Web Trading Demo | Web Trading Demo | Web Trading Demo |
| Mobile Trading | Yes | Yes | Yes |
| Mobile Trading App | Zerodha Kite App | Upstox | Fyers Mobile App |
| Mobile Trading App Demo | Zerodha Kite App | Upstox | Fyers Mobile App |
| Android Mobile App | Yes | Yes | Yes |
| Android App Download | Android Zerodha Kite App Download | Android Upstox Download | Android Fyers Mobile App Download |
| iPhone Mobile App (IOS) | Yes | Yes | Yes |
| iOS App Download | iOS Zerodha Kite App Download | iOS Upstox Download | iOS Fyers Mobile App Download |
| Android Tablet App | Yes | Yes | Yes |
| iPad App (IOS) | Yes | Yes | Yes |
| Trading Software Charges | Free | Free | Free |
| Equity Brokerage Calculator | Equity Intraday and Delivery Brokerage Calculator for Zerodha | Equity Intraday and Delivery Brokerage Calculator for Upstox | Equity Intraday and Delivery Brokerage Calculator for Fyers |
| Futures Brokerage Calculator | Futures Brokerage Calculator for Zerodha | Futures Brokerage Calculator for Upstox | Futures Brokerage Calculator for Fyers |
| Options Brokerage Calculator | Option Brokerage Calculator for Zerodha | Option Brokerage Calculator for Upstox | Option Brokerage Calculator for Fyers |
| Detail | Detail on Trading Platforms for Zerodha | Detail on Trading Platforms for Upstox | Detail on Trading Platforms for Fyers |
| Zerodha | Upstox | Fyers | |
|---|---|---|---|
| 162 Customer reviews Rate | 17 Customer reviews Rate | 11 Customer reviews Rate | |
| Fees Ratings | 4.0 | 3.6 | 3.5 |
| Trading Brokerage Rating | 4.4 | 3.5 | 3.6 |
| Trading Platform Usability | 3.7 | 3.5 | 3.5 |
| Customer Service Ratings | 3.8 | 3.3 | 3.5 |
| Overall Rating | 3.9 | 3.4 | 3.2 |
| Broker Rating | Zerodha is Rated 3.9 / 5 based on 162 customer reviews | Upstox is Rated 3.4 / 5 based on 17 customer reviews | Fyers is Rated 3.18 / 5 based on 11 customer reviews |
| Investment Offerings Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| Equity Cash and F&O | Yes | Yes | Yes |
| Currency Derivatives | Yes | Yes | Yes |
| Commodity | Yes | Yes | Yes |
| Online IPO Application | Yes | Yes | Yes |
| Mutual Funds | Yes | Yes | Yes |
| Bonds / NCD | Yes | No | No |
| ETF | Yes | Yes | Yes |
| Banking | No | No | No |
| Insurance | No | No | No |
| Forex | No | No | No |
| MF SIP Investment | Yes | Yes | Yes |
| Equity SIP Investment | Yes | Yes | No |
| PMS Service | No | No | No |
| Other Investment Options | NIL | NPS | NIL |
| MTF Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| MTF Leverage | Upto 5x leverage on 1300+ stocks | Upto 4x leverage | Up to 4x leverage on 1600+ stocks |
| MTF Interest Rate | 0.04% per day (14.6% per annum) | ₹20/day for every ₹40,000 – ₹50,000 (Varies by plan) | 12.49% – 16.49% per annum (Slab-based MTF Interest rates) |
| MTF Segment | Equity Delivery (NSE) | Equity Delivery (NSE and BSE) | Equity Delivery |
| MTF Pledge Charges | ₹15 per ISIN | ₹20 per ISIN | ₹12 per stock |
| MTF Unpledged Charges | ₹15 per ISIN | ₹20 per ISIN | ₹12 per stock |
| Maximum MTF Funding | ₹50 crore per account | Maximum MTF Positions upto ₹5 crore with ₹3.75 crore MTF Funding | Upto ₹50 Lakh per account |
| API Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| API Type | Trading API Market Data API (Websocket API) Historical Data API Publisher API | Market Data API (REST/WebSocket) Historical Data API Trading API (Order | Fyers API is a set of online tools by Fyers that lets you connect your own software to your trading account to place orders and access market data automatically. |
| API Charges | Kite Connect API: Rs 500 per month Personal: Free | Free | Free |
| Customer Service Compare | Zerodha | Upstox | Fyers |
|---|---|---|---|
| 24/7 Customer Service | No | No | No |
| Email Support | Yes | Yes | Yes |
| Online Live Chat | No | Yes | No |
| Phone Support | Yes | Yes | Yes |
| Toll Free Number | No | No | No |
| Through Branches | Yes | Yes | No |
| Customer Care Number | "+ 91 80 4040 2020" | +91 22 6130 9999 | 08060001111 |
| Account Opening Process | Online/Paperless | Online/Paperless | 100% online and paperless proc |
| Customer Support Email | [email protected] | [email protected] | [email protected] |
| Knowledge Center/Education | https://zerodha.com/varsity/ | https://upstox.com/help-center/ | https://fyers.in/school-of-stocks/ |
| Head Office Address | Zerodha Headquater#153/154 4th Cross Dollars Colony,Opp. Clarence Public School,J.P Nagar 4th Phase,Bangalore – 560078 | Upstox Corporate OfficeSunshine Tower,30th Floor,Senapati Bapat Marg,Dadar (W),Mumbai – 400 013 | Fyers Securities, No. 19 & 20, 3rd Main, Gandhinagar,Bangalore – 560009 |
| Website | https://zerodha.com/ | https://upstox.com/ | https://fyers.in/ |
| Zerodha | Upstox | Fyers | |
|---|---|---|---|
| Research Mutual Funds | No | No | No |
| Research Equity Reports | No | No | No |
| Research ETF | No | No | No |
| Daily Market Report | No | No | No |
| Free Tips | No | No | No |
| Quarterly Result Analysis | No | No | No |
| News Alerts | No | No | Yes |
| Zerodha | Upstox | Fyers | |
|---|---|---|---|
| DP Source | CDSL | CDSL | CDSL |
| DP ID | 81600 | 81800 | 89400 |
| Demat Account Annual Maintenance Charges(AMC) | ₹300 pa | ₹300 PA | Free |
| Advance Deposit | Nil | NIL | Nil |
| Statutory charges | ₹50 | Nil | Nil |
| Transaction Charges on Debit (Per ISIN) | ₹8 + ₹5.50 (CDSL Charges) per transaction | ₹13 + ₹5.50 CDSL charges | ₹7 + ₹5.50 (CDSL Charges) per transaction |
| Demat | ₹150 per certificate + ₹100 courier charges | ₹20 + ₹50 courier charges | ₹0 |
| Remat | ₹150 per certificate + ₹100 courier charges + CDSL Charges | ₹100 for every hundred securities or ₹25 per certificate (whichever is higher) | ₹0 |
| Pledge Creation | ₹20 + ₹12 CDSL charges | 0.02% of the transaction value (Min ₹50) + CDSL charges | Nil |
| Pledge Creation Confirmation | Nil | 0.02% of the transaction value (Min ₹50) + CDSL charges | Nil |
| Pledge Closure | ₹20 + ₹12 CDSL charges | 0.02% of the transaction value (Min ₹50) + CDSL charges | Nil |
| Pledge Closure Confirmation | Nil | 0.02% of the transaction value (Min ₹50) + CDSL charges | Nil |
| Pledge Invocation | ₹20 | 0.05% of the transaction value (Min ₹50) | Nil |
| Failed Instruction Charges | ₹50 per instraction | ₹50 | Nil |
| Other Charges | Nil | Nil | Stamp Charges ₹50, |
| Zerodha | Upstox | Fyers | |
|---|---|---|---|
| Likes | Enjoys a credible brand reputation Multiple products: Equity, F&O, IPO, MF, Bonds, G-secs, Cost-effective trading with flat fee and free investment in stocks, IPO, and mutual funds Hassle-free account opening Single margin account to trade in equity and commodity Zero minimum balance required in the Zerodha trading account Technologically advanced trading platforms and tools at no additional cost Add-on features like GTT order, alert trigger order, trade from charts, etc. Margin Trading Facility (MTF) Debt-free company Detail Review… | Invest across segments under one roof – Stocks (NSE/BSE), F&O, commodity, IPOs, mutual funds, NPS Competitive and transparent brokerage charges along with free account opening services. Advanced trading platforms, suitable for both new investors and professional traders. Easy and paperless account opening with basic KYC documents required Charting, host of analytical tools, real-time market alerts, and fast order execution for speed and reliability Detail Review… | Trade on BSE, NSE, and MCX Free IPO and mutual funds investment Rs 20 fixed brokerage on all segments Invest in IPOs, OFS, SGBs, G-secs, and T-bills Cheapest Rs 50/order brokerage on NRI trading User-friendly mobile app and website for investors Fyers Next and Fyers One high-speed trading terminal for traders Fyers Thematic Investing: Invest in expert expert-curated basket of stocks. Start Algo trading Access with Fyers API for free Bracket order, cover order, GTT, AMO, basket order Fyers School of Stocks, a free stock market learning platform. Margin calculator, brokerage calculator, SIP & Lumpsum calculator, etc. Detail Review… |
| Dislikes | Zerodha does not offer trading tips, research and advisory services. Software glitches in kite happen certain times. Zero brokerage unlimited trading plan is not offered. Detail Review… | Delivery trading is not free, check free equity delivery brokers. NRI Trading not available, Check best NRI brokers. No intraday trading tips, investment recommendations, research, and advisory services. Some users reported technical glitches and bugs certain times. High call and trade and auto-square off charges = Rs 75 per order Detail Review… | No unlimited zero brokerage monthly plans No 3-in-1 account offering No mutual fund investment app Research reports are not offered free Detail Review… |
| Special Offers/Promo | 🎯 Current Promotion Offer from Zerodha for InvestorGain Visitors: 🆓 Free Account Opening 📈 Free Delivery Trading 💹 Max ₹20 per Order Brokerage on Intraday, F&O, Commodities & Currency 💰 Free Direct Mutual Funds & IPO Investment 📱 Kite & Coin – #1 Trading Platform & Mobile App 🚀 Open Instant Zerodha Account | 🔵 Current Offer from Upstox for InvestorGain Visitors: 🆓 Free Upstox Demat & Trading Account 📭 No AMC for the 1st Year 💹 Max ₹20 per Order Brokerage on All Trades 🌱 Free Mutual Funds & IPO Investment 🚀 Open Instant Free Upstox Account Now! | 🔷 Current Promotion Offer from Fyers for InvestorGain Visitors: 🆓 Lifetime “ZERO” Demat AMC Account 🌱 Free Direct Mutual Funds & IPO Investment 💹 Max ₹20 per Order Brokerage on Delivery, Intraday, F&O, Commodities & Currency 🚀 Open Instant Fyers Account Now! |
| Open Zerodha Account Now | Open Upstox Account Now | Open Fyers Account Now |
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