Is Groww cheaper than Upstox?

Groww charges ₹20/trade or 0.1% (whichever is lower) on equity delivery, ₹20/trade or 0.1% (lower) on intraday, and ₹20/trade on F&O. Upstox charges ₹0 (free), ₹20/trade or 0.05% (lower), and ₹20/trade. MTF interest: Groww at ~12.99% p.a. vs Upstox at ~11.95% p.a..

Which broker is better for MTF — Groww or Upstox?

Groww's MTF rate is ~12.99% p.a.. Upstox's MTF rate is ~11.95% p.a.. On a ₹5 lakh position held 6 months, the cheaper broker saves thousands in interest. See the live MTF rate comparison at /mtf.

Which broker should I choose — Groww or Upstox?

Groww is best for: Beginners, mutual-fund-first investors, mobile-only users. Upstox is best for: Traders wanting free delivery + good API access. Pick based on your trading style rather than headline brokerage alone.

Groww vs Upstox — Brokerage, MTF Rates & Features Compared (2026)

Side-by-side comparison of Groww 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.

Groww

groww

Mobile-first broker with large mutual fund base

Best for: Beginners, mutual-fund-first investors, mobile-only users

Upstox

upstox

Flat-fee discount broker backed by Ratan Tata

Best for: Traders wanting free delivery + good API access

Charges compared

Fee / Charge	Groww	Upstox
Equity delivery	₹20/trade or 0.1% (whichever is lower)	₹0 (free)
Intraday	₹20/trade or 0.1% (lower)	₹20/trade or 0.05% (lower)
F&O (flat)	₹20/trade	₹20/trade
MTF interest (p.a.)	~12.99% p.a.	~11.95% p.a.
AMC (annual)	₹0 (free)	₹150/year

Groww — pros & cons

Pros

Zero annual maintenance charge
Clean, beginner-friendly mobile UX
Unified mutual fund + stocks + FD + gold
Fast account opening (under 10 min)

Cons

₹20/trade on delivery (not free like Upstox/Zerodha)
Limited advanced charting
No desktop terminal as polished as Kite

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 Groww if you fit this profile: beginners, mutual-fund-first investors, mobile-only users.
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

Dhan vs Groww Dhan vs Upstox Dhan vs Zerodha Groww vs Zerodha Upstox vs Zerodha

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