Demat reviews, broker comparisons, and investing guides for Indian investors
Zerodha vs Shoonya vs Upstox
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Last updated: May 2026 · Charges and offers verified against official broker pages where noted.
Upstox demat account charges, features, and safety — verified against official sources.
In stock
Features & Services Provided
9
Brokerage Charges & Fees
8.7
Users Rating
8.5
User Interface
8.8
Customer Support
9.3
2009
Ravi Kumar, Kavitha Subramanian, Shrini Viswanath
₹0
₹0 first year; then ₹300 + GST/year for non-BSDA users
₹100/year (BSDA)
Regular Upstox pay-per-use plan
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
₹20 per executed order
Lower of ₹20 or 0.05%
Lower of ₹20 or 0.05% per executed order
₹20 per executed order
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
MTF interest ₹20/day per ₹50,000 borrowed slab
Yes
₹20 + GST per scrip
₹20 + GST per scrip
1x; 100% upfront delivery margin
Up to 5x
No
No
Yes
No
No
No
No
No
No
No
Yes
No
No
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
No
Yes
No
No
Yes
No
No
No
No
No
Yes
No
Nil
Nil
STT 0.10% on buy and sell
STT 0.05% on sell side
STT 0.025% on sell side
STT 0.15% on sell side premium; 0.15% on exercise intrinsic value
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
MCX 0.00210%; NCDEX 0.0058%
MCX 0.0418%; NCDEX 0.03%
NSE 0.00035% on turnover
NSE 0.0311% on premium
NSE 0.00307%; BSE 0.00375%
NSE 0.00183% on contract value
NSE 0.00307%; BSE 0.00375%
NSE 0.03553% on premium; BSE 0.0325% on premium
0.002% on buy side
0.003% on buy side premium
0.0001% on buy side
0.0001% on buy side
0.015% or ₹1,500/crore on buy side
0.002% or ₹200/crore on buy side
0.003% or ₹300/crore on buy side
0.003% or ₹300/crore on buy side
₹0
₹75 + GST
₹100 per cert + ₹50 courier
₹20 + GST per scrip/day
18% on brokerage, DP, exchange transaction charges, SEBI charges and other taxable service charges
₹0
₹10/crore or 0.0001% of turnover
₹75 + GST
Free
₹50 + GST account modification
This Zerodha vs Shoonya vs Upstox guide compares charges and account terms for Zerodha, Shoonya, and Upstox using our master broker sheet (updated from the same source as the live table above). Figures below are copied verbatim from that sheet—confirm current tariffs on each broker’s official website before opening an account. More comparisons: broker comparisons hub.
Charges at a glance
Parameter
Zerodha
Shoonya
Upstox
Annual Maintenance Charges (AMC)
₹300 + GST/year for non-BSDA resident accounts (₹75/quarter)
₹0 (Free for lifetime)
₹0 first year; then ₹300 + GST/year for non-BSDA users
Brokerage Plan
Regular Zerodha online plan
Shoonya zero-brokerage online plan
Regular Upstox pay-per-use plan
Equity Delivery Charges
₹0
₹0
₹20 per executed order
Equity Intraday Charges
Lower of ₹20 or 0.03% per executed order
₹0
Lower of ₹20 or 0.05% per executed order
Equity Futures charges
Lower of ₹20 or 0.03% per executed order
₹0
Lower of ₹20 or 0.05%
Equity Options charges
₹20 per executed order
₹0
₹20 per executed order
Key differences from our sheet
Annual Maintenance Charges (AMC): Zerodha — ₹300 + GST/year for non-BSDA resident accounts (₹75/quarter); Shoonya — ₹0 (Free for lifetime); Upstox — ₹0 first year; then ₹300 + GST/year for non-BSDA users.
Brokerage plans, AMC slabs, and F&O tariffs can change. Use the comparison table at the top of this page for side-by-side product fields, and verify final numbers on official broker sites before you trade.
