Angel One vs Upstox — Brokerage, MTF Rates & Features Compared (2026)
Side-by-side comparison of Angel One and Upstox across every charge and feature that matters to Indian retail traders. Data verified April 2026. Use the live MTF comparison for real-time rate checks.
Angel One
angel-oneTop-3 broker by clients — research + advisory alongside flat fees
Best for: Investors who want research and advisory bundled with low-cost trading
Upstox
upstoxFlat-fee discount broker backed by Ratan Tata
Best for: Traders wanting free delivery + good API access
Charges compared
| Fee / Charge | Angel One | Upstox |
|---|---|---|
| Equity delivery | ₹20/trade or 0.1% (lower, min ₹5) | ₹0 (free) |
| Intraday | ₹20/trade or 0.1% (lower, min ₹5) | ₹20/trade or 0.05% (lower) |
| F&O (flat) | ₹20/trade | ₹20/trade |
| MTF interest (p.a.) | ~14.99% p.a. | ~18.25% p.a. |
| AMC (annual) | ₹0 first year, then ₹240/year | ₹150/year |
Angel One — pros & cons
Pros
- One of India's largest brokers (~7M+ clients)
- Free research, ARQ Prime advisory and stock ideas
- SmartAPI for algo trading
- Full-featured super app (stocks, F&O, MF, IPO, US stocks)
Cons
- Delivery is ₹20/0.1%, not free like Upstox/Zerodha/Dhan
- ₹240/year AMC from the second year
- More upsell prompts than pure discount brokers
Upstox — pros & cons
Pros
- Zero brokerage on equity delivery
- Fast Upstox Pro Web + Mobile app
- Public Upstox V3 API — best among discount brokers
- Backed by Ratan Tata, Tiger Global
Cons
- ₹150 AMC (vs free on some)
- No call-and-trade included
Which broker should you pick?
- Pick Angel One if you fit this profile: investors who want research and advisory bundled with low-cost trading.
- Pick Upstox if you fit this profile: traders wanting free delivery + good api access.
- Use the live MTF comparison to check the cheaper broker for the specific stock you want to margin-trade — rates vary per stock.
- Run your expected monthly trading volume through the brokerage calculator to see actual all-in cost (brokerage + STT + exchange fees + GST).
Other broker comparisons
Angel One vs DhanAngel One vs GrowwAngel One vs ZerodhaDhan vs GrowwDhan vs UpstoxDhan vs ZerodhaGroww vs UpstoxGroww vs ZerodhaUpstox vs Zerodha
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