Zerodha vs Shoonya vs Upstox: Charges & Costs (2026)
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Zerodha: delivery ₹0, AMC ₹0 in year one, then ₹300 + GST a year; Shoonya: delivery ₹0, AMC ₹0; Upstox: delivery ₹20 per order, AMC ₹0 in year one, then ₹300 + GST a year. On a ₹1,00,000 delivery round trip the total charges are ₹237.82 on Zerodha, ₹233.10 on Shoonya, ₹293.28 on Upstox.
Last updated: October 2026
This page compares Zerodha, Shoonya and Upstox on what you actually pay: brokerage, AMC, DP charges and the total cost of three sample trades. Charges were checked against each broker’s published pricing in October 2026 and can change, so confirm before you open an account. This is information, not investment advice.
Zerodha vs Shoonya vs Upstox: charges side by side
| Charge | Zerodha | Shoonya | Upstox |
|---|---|---|---|
| Account opening | ₹0 | ₹0 | ₹0 |
| Equity delivery brokerage | ₹0 | ₹0 | ₹20 per order |
| Equity intraday brokerage | Lower of ₹20 or 0.03% | Lower of ₹5 or 0.03% | Lower of ₹20 or 0.1% |
| Futures and options | ₹20 per order (futures: lower of ₹20 or 0.03%) | Flat ₹5 + GST per order | Options ₹20 per order; futures lower of ₹20 or 0.05% |
| Demat AMC | Free for the first year, then ₹300 + GST a year (non-BSDA) | ₹0 for individuals; ₹900 for corporate, trust and LLP | Free for the first year, then ₹300 + GST a year (non-BSDA) |
| DP charge on sells | ₹15.34 per scrip sold including GST | ₹9 + GST per scrip | ₹20 per scrip sold (the examples add 18% GST) |
| Call and trade | ₹50 per order | ₹0 | ₹75 + GST per order |
What the same trades cost on each broker
These examples add up brokerage, STT, exchange charges, SEBI fees, stamp duty, GST and the DP charge on a round trip (buy and sell). Delivery and intraday trades buy and sell ₹1,00,000 of shares once each. The options trade buys premium worth ₹50,000 and sells it for ₹60,000, with one lot per order. Amounts are rounded to the nearest paisa.
| Trade | Zerodha | Shoonya | Upstox |
|---|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹237.82 | ₹233.10 | ₹293.28 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹47.28 | ₹82.68 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹149.55 | ₹184.95 |
Delivery: Shoonya is lowest at ₹233.10; the next lowest is ₹237.82 (₹4.72 more). Intraday: Shoonya is lowest at ₹47.28; the next lowest is ₹82.68 (₹35.40 more). Options: Shoonya is lowest at ₹149.55; the next lowest is ₹184.95 (₹35.40 more). Your own order sizes and how often you trade decide which costs least, so test them in the calculator.
Zerodha vs Shoonya vs Upstox: what to weigh
Zerodha may suit you if:
- you value features and service that this charges-only page does not cover
Shoonya may suit you if:
- you trade intraday: it is the lowest on that example by ₹35.40
- you trade options: it is the lowest on that example by ₹35.40
- you keep the account for years: AMC after year one is ₹0
- you sell shares often: its DP charge is the lowest of the three (₹10.62)
Upstox may suit you if:
- you value features and service that this charges-only page does not cover
These statements describe published charges, not a recommendation. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
Zerodha charges page. Shoonya charges page. Upstox charges page. More pairs are on the broker comparisons hub.
Zerodha vs Shoonya vs Upstox: FAQs
Which of Zerodha, Shoonya and Upstox is cheapest for delivery?
Shoonya on the ₹1,00,000 delivery example: ₹237.82 on Zerodha, ₹233.10 on Shoonya, ₹293.28 on Upstox.
Which has the lowest AMC?
Zerodha: ₹0 in year one, then ₹300 + GST a year; Shoonya: ₹0; Upstox: ₹0 in year one, then ₹300 + GST a year.
How do F&O charges compare?
Zerodha: ₹20 per order (futures: lower of ₹20 or 0.03%); Shoonya: Flat ₹5 + GST per order; Upstox: Options ₹20 per order; futures lower of ₹20 or 0.05%. Options example totals: ₹184.95 on Zerodha, ₹149.55 on Shoonya, ₹184.95 on Upstox.
How do DP charges compare?
Zerodha: ₹15.34 per scrip sold including GST; Shoonya: ₹9 + GST per scrip; Upstox: ₹20 per scrip sold (the examples add 18% GST).
Is STT different between brokers?
No. STT is set by the government: 0.1% on buy and sell for delivery, 0.025% on the sell side for intraday, 0.05% on the sell side for futures and 0.15% on the sell premium for options. It is the same at every broker.
Sources
Zerodha: Zerodha charges page. Shoonya: Shoonya pricing page. Upstox: Upstox brokerage charges page. STT, stamp duty, SEBI turnover fee and exchange transaction charges follow the rates set by the government, SEBI and the exchanges.
Brokerage, AMC and statutory charges change. This page is for information and education only, not investment advice.
