2 Min Read | April 24, 2021
In recent times, India has witnessed tech-led discount brokers coming in a wave in the market. With the help of a user-interactive platform, these discount brokers have been disrupting the Indian brokerage industry.
As the concept of discount brokerage flourished among common investors in India, more and more players got added to the list. With an increasing number of players (like Zerodha, Upstox, Groww, Angel Broking) you might get confused as to which discount brokerage to pick. The most simple way is to sort them on the basis of charges and the services they provide.
In this blog, you will get a detailed comparison between two of the leading discount brokerage firms, Upstox and Groww. So, get on with the reading!
Dear readers, we have already published a detailed blog on Zerodha vs Upstox. You can read it as well.
Before jumping to the services and brokerage charges, let us have some knowledge about the background of both Upstox and Groww.
Founded in the year 2016 and headquartered in Bangalore, Groww is founded by four ex-employees of Flipkart namely, Lalit Keshre, Harsh Jian, Ishan Bansal and Neeraj Singh. Four of the founders basically quit their job with Flipkart to initiate a venture which could ease the investing process in India, especially for the millennials.
Initially, it had limited itself to the direct mutual fund investment and last year it expanded its product bandwidth and included equity trading as well. So, Groww is a flat fee discount brokerage firm now offering varied investment options in US stocks, fixed deposits and digital gold.
All the services are enabled to the users through its mobile and web application which is a safe-to-use app for all investors. Apart from investing you can also avail of, eBooks educational content and blogs for stock market learning. It is due to its safe, easy use and user-interactive investing platform that as of November 2020 it had a user base of more than 90 lakh.
Founded in the year 2011 as RSKV Securities by Ravi Kumar, Raghu Kumar and Shrinivas Viswanath, the founders decided to change the brand name to Upstox in 20216. The discount brokerage firm is headquartered in Mumbai and is a registered member of BSE, NSE, MCX, NSDL and CDSL.
The low-cost trading and investing services are being offered by the firm through its fast, built-in-house built and trustworthy platform that can be accessed easily by anyone. In 2020, Upstox emerged as one of the largest brokers in the country and by the end of 2020, it has a customer base of 3 million.
The choice of discount brokerage firm must be based on your trading or investing needs. If are not fully aware of the charges, services and related information about Upstox or Groww then a crip comparison would help you get sorted.
Let us get started!
While Groww offers both one platform for investing or trading for web and mobile, Upstox has four trading platform namely - Upstox Pro, Upstox DEV, Upstox Mutual Funds, Partner Platforms.
The opening process for Demat and trading account is absolutely free with both Upstox and Groww. Further, the AMC of the Groww Demat account and trading account is 0 (zero) whereas the AMC of the Upstox Demat account is Rs 300. Lastly, the AMC of the Upstox trading account is again 0 (zero).
This was a simplified overview of the services, features and charges of both Upstox and Groww. Now, as an investor, the final choice is yours to make after comparing the information with your investment needs.
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