Top Stock Advisory
Zerodha vs. Groww
All stockbrokers charge you a fee for carrying out trading transactions. They charge you different fees for different asset classes. So, to maximize your returns and best trading experience, you need to choose the best stock broker.
Among the best stockbrokers in India, two top names are Zerodha and Groww. Please find a thorough comparison study for both the stock brokers, and find the table below for the comparison of Zerodha and Groww.
Overview
Zerodha are Groww both private companies and both are discount brokers as well. Nithin Kamath co-founded Zerodha in 2010. And Groww was founded in the year 2016 by Lalit Keshre. Zerodha's headquarters are in Bangalore, India and Groww's headquarters are in Bangalore, India.
Discount brokers, as the name implies, execute buy/sell orders for a lesser commission rate. They usually impose a flat brokerage fee. Investors can save a significant amount of money if they do not use a full-service broker. Zerodha is registered in NSE, BSE, MCX and NCDEX, while Groww is registered in NSE and BSE. The total branches of Zerodha are 22 and the Groww branches are 0.
| Overview | Zerodha | Groww |
|---|---|---|
| Broker Type | Discount Broker | Discount Broker |
| Type of company | Private | Private |
| Headquarter | Bangalore, India | Bangalore, India |
| Founders | Nithin Kamath | Lalit Keshre |
| Foundation Year | 2010 | 2016 |
| Supported Exchanges | NSE, BSE, MCX and NCDEX | NSE and BSE |
| Total branches | 22 | 0 |
Zerodha and Groww Trading Account Opening and Demat Charges
A dematerialization account, also known as a Demat account keeps the securities in an electronic form that are deposited with National Securities Depository Limited (NSDL) or Central Depository Services Limited (CDSL).
Account opening fees for various brokers range from 0 to Rs.200, with Zerodha charging Rs.300 and Groww charging Free.
When you open a Demat account, you must pay specific fees such as account maintenance fees, broker commissions, GST, and STT. When you open a Demat account, you must pay specific fees such as account maintenance charges, broker commissions, GST, and STT. So, account maintenance charges (AMC) for the Zerodha Demat account is Rs.300 per Annum and for the Groww Demat account is Rs.300 per Annum. The Trading AMC for Zerodha and Groww is free. And the margin money for both brokers is also zero.
As we know that NSDL and CDSL are the two depositories in India registered by Indian Government which holds various securities in electronic form like stocks, bonds, etc. So, the depository for both Zerodha and Groww is CDSL.
| Account Opening and Demat Charges | Zerodha | Groww |
|---|---|---|
| Trading Account Opening Charges | Rs.300 | Free |
| Demat AMC (Annual Maintenance Charges) | Rs.300 per Annum | Rs.300 per Annum |
| Trading AMC (Annual Maintenance Charges) | Free | Free |
| Margin Money | Zero | Zero |
| Offline to Online Charges | Not applicable | Yes |
| Depository | Free | CDSL |
Zerodha and Groww Equity Brokerage Charges
There are more charges that a broker charges for equity transactions.
Equity delivery charges: This means holding the stocks for a certain period of time and selling it when you make a profit. Different brokers charge different rates on Equity Delivery. The Equity Delivery charges for Zerodha is Rs.20 Per Order, while Groww charges you ZERO.
Equity Intraday: This means when you buy and sell stocks on the same day. So, the equity intraday brokerage charges for Zerodha is Rs.20 Per Order and for Groww also, it is Rs.20 per Order.
Equity Futures: Equity futures refers to the purchase and sale of shares at a fixed price on a future date. Zerodha charge Rs.20 Per Order and Groww charge Rs.20 per Order for equity futures.
Equity Options: These are contracts that allow an investor to buy or sell equities at a predetermined or strike price, (1 contract=100 shares). For equity options, Zerodha charges Rs.20 Per Order, and Groww charges Rs.20 per Order.
| Equity Brokerage Charges | Zerodha | Groww |
|---|---|---|
| Equity Delivery Brokerage | Rs.20 Per Order | ZERO |
| Equity Intraday Brokerage | Rs.20 Per Order | Rs.20 per Order |
| Equity Futures Brokerage | Rs.20 Per Order | Rs.20 per Order |
| Equity Options Brokerage | Rs.20 Per Order | Rs.20 per Order |
Zerodha and Groww Currency Brokerage Charges
Currency trading is also known as forex trading, which is used to buy and sell currency pairs. Most brokers offer this trading service.
Currency Future: It is also known as Foreign exchange futures. It is a type of contract where buying and selling of currencies is done on a future date at a fixed price. The Currency Futures Brokerage for Zerodha is Rs.20 Per Order and for Groww is Rs.20 per Order.
Currency Options: A currency option, like an equity option, is a contract that allows a buyer the right (but not the responsibility) to purchase or sell a specified currency at a fixed exchange rate on or before a particular date. Zerodha charges Rs.20 Per Order for currency options, whereas Zerodha charges Rs.20 per Order.
| Currency Brokerage Charges | Zerodha | Groww |
|---|---|---|
| Currency Futures Brokerage | Rs.20 Per Order | Rs.20 per Order |
| Currency Options Brokerage | Rs.20 Per Order | Rs.20 per Order |
Zerodha and Groww Commodity Brokerage Charges
Commodity Trading: Commodity trading involves the purchase and sale of various commodities such as gold, silver, agriculture, and energy, as well as their derivative products. Zerodha charges CDSL for commodity trading, while Groww charges NA.
| Commodity Brokerage Charges | Zerodha | Groww |
|---|---|---|
| Commodity Options Brokerage | CDSL | NA |
Zerodha and Groww Other Charges
Here are some other broker charges that should know about -
Minimum Broker Charges: Zerodha levies a minimum brokerage fee of Zero, while Groww charges Zero brokerage fee.
Transaction Brokerage Charges: Zerodha levies a transaction brokerage charge of 0.00325% of Total Turnover, while Groww charges 0.00325% of Total Turnover.
SEBI Turnover Charges: Securities and Exchange Board of India (SEBI) is the market regularly and monitors fair trade practices. They also charge a small fee known as the SEBI Turnover fee. So, the SEBI Turnover charges for Zerodha is 0.002% of Total Turnover and for Zerodha is 0.00005% of Total Turnover.
Stamp Duty Charges: This fee is charged as per the state and asset class.
GST Charges (Goods and Services Tax): GST of 18% is charged (brokerage and transaction charges)
STT (Securities Transaction Tax): The STT charges for Zerodha are 0.0126% of Total Turnover, while for Groww, they are 0.025% of Total Turnover.
Call and Trade Charges: This charge varies for different brokers. Zerodha charges Rs 50 per executed order and Groww charges NA.
| Other Brokerage Charges | Zerodha | Groww |
|---|---|---|
| Minimum Brokerage Charges | Zero | Zero | Transaction Brokerage Charges | 0.00325% of Total Turnover | 0.00325% of Total Turnover | SEBI Turnover Charges | 0.002% of Total Turnover | 0.00005% of Total Turnover | Stamp Duty Charges | As per the state | As per the state | GST Charges | 18% of (Brokerage + Transaction Charges) | 18% of (Brokerage + Transaction Charges) | STT Charges | 0.0126% of Total Turnover | 0.025% of Total Turnover | Call and Trade Charges | Rs 50 per executed order | NA |
Zerodha and Groww Equity Exposure/Leverage
With the leverage, you can trade for a much higher amount than you actually pay for it. It means to borrow money for buying securities. For example, if you want to buy stocks for Rs. 5,00,000, but have only funds of Rs. 2,00,000. Then, you can get the remaining 3,00,000 Rs. from the broker by paying them some margin amount.
Equity Delivery: Leverage provided for Equity Delivery by Zerodha is up to Upto 20x and by Groww it is up to Upto 3x.
Equity Intraday: Leverage for equity intraday by Zerodha is up to Upto 28x and by Groww it is up to Upto 14x.
Equity Futures: Leverage for Equity Futures by Zerodha is up to Upto 15x and by Groww it is up to Upto 6x.
Equity Options: Leverage for Equity Options by Zerodha is up to Upto 8x and by Groww also, it is up to Upto 4x.
| Equity Leverage | Zerodha | Groww |
|---|---|---|
| Equity Delivery | Upto 20x | Upto 3x | Equity Intraday | Upto 28x | Upto 14x | Equity Futures | Upto 15x | Upto 6x | Equity Options | Upto 8x | Upto 4x |
Zerodha and Groww Currency Leverage
The currency futures leverage provided by Zerodha is up to Upto 12x, while for Groww it is up to Upto 5x.
The currency options leverage provided by Zerodha is up to Upto 8x, while for Groww it is up to Upto 3x.
| Currency Leverage | Zerodha | Groww |
|---|---|---|
| Currency Futures | Upto 12x | Upto 5x | Currency Options | Upto 8x | Upto 3x |
Zerodha and Groww Commodity Leverage
The commodity leverage provided by Zerodha is up to Upto 17, while for Groww it is up to Upto 10x.
| Commodity Leverage | Zerodha | Groww |
|---|---|---|
| Commodity | Upto 17 | Upto 10x |
Zerodha and Groww Offers
Brokers offer various exciting offers to entice new customers. Here are some of them:
Free Stock Trading and Demat Accounts: many brokers offer new investors to open an account free to cost and start trading straight away with them.
Flexible Plans: attractive plans at an economical price such as ProStocks monthly plan targeting equity cash and currency F&O at Rs.899 and Rs.499, respectively.
Brokerage Discounts: Coupons providing up to 50% discount at their rates.
Happy Hours: A specific time slot where the trades/customers get broker's services at a discount.
1-month Free Plan: where brokers provide free delivery trading such as OneTradePlus.
Holiday Offers: brokers are providing their services at a discounted rate on special events such as Diwali.
Referral Program: brokers provide a discount when your family or friends sign up with the broker using your referral code.
Zero Brokerage on Loss Trade: complete refund of money on unsuccessful trades.
| Offers | Zerodha | Groww |
|---|---|---|
| Free Stock Trading Account | No | Yes | Free Demat Account | No | No | Flexible Plans | No | No | Brokerage Discounts | Yes | Yes | Happy Hours | No | No | 1 Month Free Plan | No | No | Holiday Offers | No | No | Referral Program | No | No | Zero Brokerage on Loss Trades | No | No |
Zerodha and Groww Features
Equity Trading: Zerodha and Groww brokers are among the top brokers in India. They provide you with various trading options like Equity Delivery, Equity Intraday and Equity Futures and Options trading.
Currency and Commodity Trading: Zerodha and Groww also offer you to trade in currency and commodities.
Initial Public Offering (IPOs): One of the greatest advantages of Zerodha and Groww broker is that you can also invest in IPOs. Zerodha also has an added advantage that they provide you with robo-advisory services as well.
Trading Exposure: Different brokers provide different trading exposures. Zerodha offers trading exposure of up to Upto 28x, while Groww gives up to Upto 20x.
Mutual Funds: Investing in mutual funds is a great option to grow your wealth and many brokers offer the option to invest on that. With Zerodha and Groww, you can invest in mutual funds through SIP and Lumpsum.
Forex Trading: With Forex Trading, you can trade in various international currencies. Zerodha and Groww also allow you to trade in forex trading.
| Features | Zerodha | Groww |
|---|---|---|
| Equity Delivery Trading | Yes | Yes | Equity Intraday Trading | Yes | Yes | Equity Futures Trading | Yes | Yes | Equity Options Trading | Yes | Yes | Currency Trading | Yes | Yes |
| Commodity Trading | Yes | Yes | IPO (Initial public offering) | Yes | Yes | Stocks Suggestions | No | No | Robo Advisory | No | No | PMS (Portfolio Management Services) | No | No |
| Trading Institution | No | No | Trading Exposure | Upto 28x | Upto 20x | Mutual Funds | No | Yes | SIP (Systematic Investment Plan) | No | No | Forex Trading | No | No | Banking | No | No | Insurance | No | No |
Zerodha and Groww Advisory Services
Discount brokers and full-service brokers offer different services. Here are some of the top advisory services offered by brokers-
Fundamental Reports: These are the reports that analyse a company's financial statements and help investors and financial analysts make decisions about a company's present financial status.
Research Reports: Many broker companies have in-house research teams which are experienced and help people to give research reports on various securities like stocks, currency, mutual funds, etc. Zerodha and Groww offer you in-depth research reports.
Company Reports: These are detailed and easy-to-understand reports on the company's measures throughout the year, month, or week.
Relationship Manager: Full-service broker gives a dedicated relationship manager, who will clear all your trading queries and help you throughout your trading journey.
Other Services: Many brokers provide more services depending upon the brokerage price like Company Stock Reviews, Free Stock Tips, IPO Reports, Top Picks, Daily Market Reviews, Monthly Reports, Weekly Reports and Offline Advisory.
| Advisory Services | Zerodha | Groww |
|---|---|---|
| Fundamental Reports | No | No |
| Research Reports | Yes | Yes |
| Company Reports | No | No |
| Annual Reports | No | No |
| Company Stock Review | No | No |
| Free Stock Tips | No | No |
| IPO Reports | No | No |
| Top Picks | No | No |
| Daily Market Review | No | No |
| Monthly Reports | No | No |
| Weekly reports | No | No |
| Offline Advisory | No | No |
| Relationship Manager | No | No |
Zerodha and Groww Desktop Trading Platforms
A trader can utilise multiple trading platforms to trade in stocks, commodities, etc. A good and advanced trading platform can make your trading easier and result in profit maximization. Zerodha and Groww offer a Desktop Trading Platform with advanced tools, interactive charts, and quick buying and selling of securities. Their trading platforms can be used in Windows, Mac and Desktop browsers as well.
| Desktop Trading Platforms | Zerodha | Groww |
|---|---|---|
| Windows | Yes | No |
| Mac | Yes | No |
| Desktop Browser | Yes | Yes |
Zerodha and Groww Mobile Trading Platforms
Zerodha and Groww offer you mobile trading platforms which can be used in iOS and Android applications.
| Mobile Trading Platforms | Zerodha | Groww |
|---|---|---|
| Mobile Browser | Yes | Yes |
| Android App | Yes | Yes |
| iOS App | Yes | Yes |
| Windows App | No | No |
| Other mobile os | No | No |
Zerodha and Groww Customer Support
Customer service is a critical aspect in converting a new customer into a loyal and long-term customer. Because the trading market moves quickly, an investor requires appropriate customer assistance from their brokers. Zerodha and Groww give good customer support and service to their clients. They help you in online trading through chat support, e-mail support and call support.
| Customer Support Features | Zerodha | Groww |
|---|---|---|
| Relationship Manager | No | No |
| Offline Trading | No | No |
| Online Trading | Yes | Yes |
| 24 * 7 Support | Yes | No |
| Email Support | Yes | Yes |
| Chat Support | Yes | Yes |
| Toll free number | No | No |
| Support Branches | Zero | 0 |
Zerodha and Groww Customer Complaints
The BSE and NSE actively accept and handle complaints to maintain a stringent check and balance on fair-trade opportunities. Investors can file complaints about brokers or companies in case of any unfair trade practices. BSE and NSE make sure to resolve your complaints within a certain time. Check out the table below for Zerodha and Groww registered and resolved complaints.
For Zerodha, the Percentage of resolved BSE complaints is 97.50 % and the Percentage of resolved NSE complaints is 95.51 %.
For Groww, the Percentage of resolved BSE complaints is 80.00% and the Percentage of resolved NSE complaints is 85.71 %.
We can say that Zerodha is better than Groww in case of resolving customer complaints.
| BSE Complaints | Zerodha | Groww |
|---|---|---|
| BSE Complaints | 120 | 10 |
| BSE Resolved Complaints | 117 | 8 |
| Percentage of resolved BSE complaints | 97.50 % | 80.00% |
| NSE Complaints | 89 | 21 |
| NSE Resolved Complaints | 85 | 18 |
| Percentage of resolved NSE complaints | 95.51 % | 85.71 % |
| BSE/NSE Complaint vs. Resolved Percentage | 96.50 % | 82.86 % |
Frequently Asked Questions
Is Zerodha better than Groww?
Zerodha and Groww are at the top among the best discount brokers. You need to look for brokerage charges, account opening fees, trading platforms, etc. to determine which one is better.
Is Groww better than Zerodha?
Both Groww and Zerodha are discount brokers. As a result, we must examine features such as brokerage costs, account opening fees, trading platforms, and more to determine which of them is a better stockbroker.
Which is cheaper between Zerodha and Groww?
The brokerage charges for Zerodha and Groww are on the cheaper side because they both are discount brokers. . In general, the brokerage fees for both of them will be relatively similar. Examine the brokerage fees in-depth to determine the less expensive broker for your requirements.
Which is better, Zerodha and Groww?
To figure out which of the two stockbrokers, Zerodha and Groww, is better, compare their brokerage charges, trading platforms, other expenses, research, account opening charges, and so on.
Compare Zerodha with other stock brokers
Visit the following pages to see a detailed comparision report of Zerodha with other brokerage firms.
Compare Groww with other stock brokers
Visit the following pages to see a detailed comparision report of Groww with other brokerage firms.