Broker Comparison
Upstox vs Groww (2026)
A factual, side-by-side comparison of Upstox and Groww — covering brokerage charges, demat AMC, mutual fund platforms, trading app quality, API access, and the types of investors each platform has historically attracted.
Published: April 2026. Data sourced from publicly available broker pricing pages. Not investment advice.
Quick Verdict
Upstox and Groww share zero delivery brokerage and comparable flat intraday fees. The primary distinctions are in their product DNA: Groww originated as a mutual fund app and maintains zero AMC on its demat account, making it notable for cost-conscious long-term investors. Upstox is a trading-first platform, with notably more advanced charting (TradingView integration), options analytics, and a well-documented public API. Groww's UX is widely considered simpler for first-time investors, while Upstox caters to investors who want deeper analytical tools.
At a Glance: Comparison Table
| Feature | Upstox | Groww |
|---|---|---|
| Account opening fee | ₹0 | ₹0 |
| Equity delivery brokerage | ₹0 | ₹0 |
| Equity intraday brokerage | ₹20 or 0.05%, lower | ₹20 or 0.05%, lower |
| F&O brokerage | ₹20 per order | ₹20 per order |
| Demat AMC | ₹150+GST/yr (from yr 2) | ₹0 (zero AMC) |
| Platform / app | Upstox Pro — TradingView charts, options analytics | Groww — simple UX, beginner-friendly |
| Customer support | Chat, email, Help Centre | Chat, email, in-app support |
| API access | Upstox Developer API (public, well-documented) | Limited public API |
| MF investment | Yes — direct plans | Yes — direct plans, deeper MF catalogue |
| Research reports | No | No |
| Physical branches | No | No |
| Charting quality | Advanced (TradingView integration) | Basic charts |
Brokerage Charges and AMC
Both Upstox and Groww charge ₹0 on equity delivery orders — trades where shares are purchased and held overnight into the demat account. Intraday equity trades at both brokers are priced at ₹20 per executed order or 0.05% of turnover, whichever is lower. F&O brokerage is a flat ₹20 per executed order at both platforms.
The standout AMC difference: Groww maintained a zero annual maintenance charge policy for demat accounts as of 2026, while Upstox charged ₹150+GST per year from the second year. For investors who open an account primarily for long-term equity and mutual fund holdings, the annual AMC saving at Groww is a meaningful cost difference. All standard statutory charges (STT, exchange transaction charges, SEBI turnover fee, stamp duty, GST) apply at both platforms and are outside the control of either broker.
Use our brokerage calculator to compare the full all-in transaction cost across trade types and sizes.
Platform and App Experience
Upstox Pro is a trading-first platform. Its TradingView integration provides institutional-grade charting within a mobile or web interface — with 100+ technical indicators, multi-timeframe analysis, drawing tools, and persistent chart layouts. The options chain view displays live Greeks (Delta, Gamma, Theta, Vega), implied volatility across strikes, and payoff diagrams for options strategies. Basket orders, GTT conditional orders, and an options strategy builder are also available. The Upstox web platform mirrors the mobile app with a wider-screen layout.
Groww's app has a fundamentally different design philosophy — it prioritises simplicity and accessibility over depth. The interface was deliberately built to reduce complexity for investors approaching equity and mutual funds for the first time. Charts are functional but basic, lacking the depth of TradingView integration. The mutual fund section of the Groww app is particularly well-executed: SIP management, portfolio analytics, fund comparison tools, and a broad AMC catalogue were all built out before the equity trading interface, and it shows in the quality of that experience.
Mutual Fund Investing
Both platforms support mutual fund investing in direct plans (where no distributor commission is charged, keeping the expense ratio lower than regular plans). Groww's mutual fund infrastructure is more mature — it launched as a mutual fund platform in 2016, several years before adding stock trading. As a result, its fund catalogue, SIP management interface, and portfolio-level MF analytics are generally considered more polished.
Upstox added mutual fund investing to its app as a secondary feature. The capability is present and functional for direct plan purchases and SIPs, but investors whose primary activity is mutual fund investing may find Groww's dedicated MF experience more feature-complete.
API Access and Algorithmic Trading
Upstox provides a well-documented public Developer API covering order management, live market data via WebSocket, historical OHLCV data, portfolio data, and fund management endpoints. The Upstox API is actively used by a community of individual algo traders, fintech developers, and systematic traders. Official client libraries and a Postman collection are publicly maintained.
Groww's API is more limited in scope and is not prominently positioned as a product for algorithmic traders. Investors who specifically intend to build automated trading systems or connect to third-party algo platforms will find Upstox's API ecosystem more suitable for that use case.
Customer Support
Both Upstox and Groww operate primarily digital support models — in-app chat, email ticketing, and help centre documentation. Neither maintains a network of physical branches, which means all support interactions are remote. Both platforms have faced user feedback regarding slow response times during high-volume market events, which is a structural challenge for digital-only brokers operating at scale.
Who Each Broker Is Associated With
Upstox is associated with retail investors who want a feature-rich trading experience with advanced charting, options analytics, and API access. It appeals to technically oriented investors, active traders, and those building systematic or algorithmic strategies on a flat-fee cost structure.
Growwis associated with first-time investors and SIP- focused mutual fund investors, particularly younger demographics (18–30) who found Groww through its mutual fund onboarding. Its simpler equity interface and zero AMC policy have made it a common starting point for new demat account holders. Investors whose primary activity is regular SIP investing and occasional equity purchases tend to find Groww's UX better suited to their workflow.
Open an account — Upstox
Open an Upstox account online — fully digital, Aadhaar e-KYC, typically takes about 10 minutes
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Open an account — Groww
Open a Groww account — digital onboarding, zero AMC demat account
Open Groww Account →Affiliate link — we may earn a commission if you open an account through this link, at no extra cost to you.
Frequently Asked Questions
Does Groww charge AMC on the demat account?
As of 2026, Groww maintained a zero AMC (Annual Maintenance Charge) policy for its demat accounts, which is a notable pricing distinction compared to Upstox, which charges ₹150+GST per year from the second year.
Which has better charting — Upstox or Groww?
Upstox Pro integrates TradingView charts with 100+ indicators, drawing tools, and options analytics. Groww's charting is more basic and is primarily oriented towards long-term investors rather than active technical traders.
Can I invest in mutual funds through both Upstox and Groww?
Yes. Both platforms allow mutual fund investments in direct plans. Groww began as a mutual fund platform and its MF investing experience is widely considered more intuitive, with a larger catalogue and portfolio analytics for SIP investors.
Do both Upstox and Groww offer API access for algo trading?
Upstox has a well-documented public Developer API that is actively used for algorithmic trading. Groww's API offering is more limited in scope and is less commonly used by systematic/algo traders compared to Upstox.
Related Tools and Pages
Use our brokerage calculator to model exact costs. Individual broker profiles: Upstox review, Groww review. Other comparisons: Upstox vs Angel One, Groww vs 5Paisa.
This comparison is educational only and does not constitute investment or financial advice. Brokerage charges, features, and AMC figures are sourced from publicly available information as of April 2026 and may change — always verify directly with each broker before opening an account. Some links on this page are affiliate links; EquitiesIndia.com may earn a commission if you open an account through them. Affiliate relationships do not influence the content of this comparison. EquitiesIndia.com is not a SEBI-registered investment adviser.