Indian Broker Comparisons - Upstox vs Zerodha vs Groww vs Dhan

Every major discount broker in India, compared head-to-head. Brokerage fees, MTF interest rates, F&O charges, AMC, and platform features - updated April 2026.

Angel One vs Dhan

MTF: ~14.99% p.a. vs ~12.49% p.a. · Delivery: ₹20/trade or 0.1% (lower, min ₹5) vs Free

Angel One vs Groww

MTF: ~14.99% p.a. vs ~14.95% p.a. · Delivery: ₹20/trade or 0.1% (lower, min ₹5) vs ₹20/trade or 0.1% (whichever is lower)

Angel One vs Upstox

MTF: ~14.99% p.a. vs ~18.25% p.a. · Delivery: ₹20/trade or 0.1% (lower, min ₹5) vs ₹20/order or 2.5% (whichever is lower)

Angel One vs Zerodha

MTF: ~14.99% p.a. vs ~14.6% p.a. · Delivery: ₹20/trade or 0.1% (lower, min ₹5) vs Free

Dhan vs Groww

MTF: ~12.49% p.a. vs ~14.95% p.a. · Delivery: Free vs ₹20/trade or 0.1% (whichever is lower)

Dhan vs Upstox

MTF: ~12.49% p.a. vs ~18.25% p.a. · Delivery: Free vs ₹20/order or 2.5% (whichever is lower)

Dhan vs Zerodha

MTF: ~12.49% p.a. vs ~14.6% p.a. · Delivery: Free vs Free

Groww vs Upstox

MTF: ~14.95% p.a. vs ~18.25% p.a. · Delivery: ₹20/trade or 0.1% (whichever is lower) vs ₹20/order or 2.5% (whichever is lower)

Groww vs Zerodha

MTF: ~14.95% p.a. vs ~14.6% p.a. · Delivery: ₹20/trade or 0.1% (whichever is lower) vs Free

Upstox vs Zerodha

MTF: ~18.25% p.a. vs ~14.6% p.a. · Delivery: ₹20/order or 2.5% (whichever is lower) vs Free

All brokers at a glance

BrokerDeliveryIntradayMTFAMC
Upstox₹20/order or 2.5% (whichever is lower)₹20/trade or 0.05% (lower)~18.25% p.a.₹150/year
Zerodha₹0 (free)₹20/trade or 0.03% (lower)~14.6% p.a.₹300/year
Groww₹20/trade or 0.1% (whichever is lower)₹20/trade or 0.1% (lower)~14.95% p.a.₹0 (free)
Dhan₹0 (free)₹20/trade or 0.03% (lower)~12.49% p.a.₹0 (free)
Angel One₹20/trade or 0.1% (lower, min ₹5)₹20/trade or 0.1% (lower, min ₹5)~14.99% p.a.₹0 first year, then ₹240/year

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