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.
Dhan vs Groww
MTF: ~9.99% p.a. vs ~12.99% p.a. · Delivery: Free vs ₹20/trade or 0.1% (whichever is lower)
Dhan vs Upstox
MTF: ~9.99% p.a. vs ~11.95% p.a. · Delivery: Free vs Free
Dhan vs Zerodha
MTF: ~9.99% p.a. vs ~11.5% p.a. · Delivery: Free vs Free
Groww vs Upstox
MTF: ~12.99% p.a. vs ~11.95% p.a. · Delivery: ₹20/trade or 0.1% (whichever is lower) vs Free
Groww vs Zerodha
MTF: ~12.99% p.a. vs ~11.5% p.a. · Delivery: ₹20/trade or 0.1% (whichever is lower) vs Free
Upstox vs Zerodha
MTF: ~11.95% p.a. vs ~11.5% p.a. · Delivery: Free vs Free
All brokers at a glance
| Broker | Delivery | Intraday | MTF | AMC |
|---|---|---|---|---|
| Upstox | ₹0 (free) | ₹20/trade or 0.05% (lower) | ~11.95% p.a. | ₹150/year |
| Zerodha | ₹0 (free) | ₹20/trade or 0.03% (lower) | ~11.5% p.a. | ₹300/year |
| Groww | ₹20/trade or 0.1% (whichever is lower) | ₹20/trade or 0.1% (lower) | ~12.99% p.a. | ₹0 (free) |
| Dhan | ₹0 (free) | ₹20/trade or 0.03% (lower) | ~9.99% p.a. | ₹0 (free) |
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