Upstox vs Zerodha Kite
Updated November 2026 · AppBreakup editorial
Upstox
Indian discount broker app for stocks, F&O, commodities, mutual funds and IPOs.
Zerodha Kite
Zerodha's web and mobile trading platform for Indian stocks, F&O, commodities and currencies.
The short answer
Upstox and Zerodha Kite are the two best-known flat-fee discount brokers in India, with the same ₹20 cap on F&O orders and similar account charges. The biggest difference is equity delivery: Zerodha charges ₹0, while Upstox charges ₹20 per executed order. Long-term stock investors lean towards Zerodha; traders who want TradingView charts, mutual funds and IPOs inside one app may prefer Upstox.
Upstox or Zerodha Kite: our take
Both brokers got started in 2010, run on the web, Android and iOS, and cover equities, futures and options, currencies and commodities. Neither offers research reports or stock tips, so both suit people who make their own decisions. Account opening is free on both, and both charge no account maintenance in the first year and then ₹300 plus GST a year for non-BSDA accounts.
The pricing gap is in delivery trades. Zerodha charges ₹0 brokerage on equity delivery, and direct mutual funds through its separate Coin app are also free. Upstox charges ₹20 per executed order on equity delivery, though mutual funds and IPO applications carry ₹0 brokerage. On intraday orders Zerodha charges ₹20 or 0.03% per executed order, whichever is lower, and options cost a flat ₹20 per executed order on both. Someone buying shares to hold for years will usually pay less at Zerodha.
The apps differ in style. Kite is known for detailed charts with hundreds of indicators, 20-level market depth, GTT orders, baskets for multi-leg options trades and cloud alerts; mutual funds live in Coin rather than inside Kite. Upstox keeps mutual funds, IPOs and US stocks in one app and lets traders switch between its own charts and a built-in TradingView chart, alongside option chains and screeners. Upstox says it has 2 crore+ users.
For learning and automation, Zerodha has Varsity, a large free course on markets, and Kite Connect, a paid API. Upstox has Uplearn courses and webinars, a trading API and the Algoverse algo platform.
Choose Zerodha Kite for free delivery trades, deep market depth and Varsity. Choose Upstox if you prefer TradingView charts, want mutual funds, IPOs and US stocks in one app, or want to build algos on Algoverse.
Which should you pick?
Choose Upstox if…
- Indian traders who want flat-fee F&O trading with TradingView charts and API access
- Flat ₹20 maximum brokerage per order across segments
- No brokerage on mutual funds and IPOs
Choose Zerodha Kite if…
- Self-directed Indian investors and active traders who want low, flat fees and a clean charting app
- No brokerage on equity delivery trades or direct mutual funds
- Flat ₹20 cap per intraday or F&O order
About each app
What is Upstox?
Upstox is a Mumbai-based discount broker whose app and web platform let Indian investors trade stocks, futures and options, currencies and commodities, and invest in mutual funds, IPOs and US stocks. It got its broking licence in 2010, and it now says more than 2 crore Indians use it. Pricing follows the flat-fee model: equity delivery, intraday and F&O orders cost up to ₹20 per executed order, while mutual funds and IPO applications have no brokerage and there's no account maintenance charge for the first year. Traders can switch between Upstox's own charts and a built-in TradingView chart, use option chains and screeners, and connect their own code through a trading API and the Algoverse algo platform. Uplearn courses and webinars cover the basics for new investors. Upstox runs on Android, iOS and the web, and it is one of the main alternatives to Zerodha for people who want low, predictable fees.
What is Zerodha Kite?
Kite is the trading app from Zerodha, the Bengaluru broker that started in 2010 and popularised flat-fee discount broking in India. It runs in the browser and on Android and iOS, and covers NSE, BSE and MCX: equities, futures and options, currencies and commodities. Traders get detailed charts with hundreds of indicators, 20-level market depth, GTT orders that sit until a price is hit, baskets for multi-leg options trades, and cloud alerts. Long-term investors mostly care that equity delivery trades and direct mutual funds (through the separate Coin app) carry no brokerage, while intraday and F&O orders cost a flat fee per order. Opening an individual account is free; a yearly demat maintenance charge applies after the first year depending on holdings. Zerodha also publishes Varsity, a large free course on markets, and Kite Connect, a paid API for building your own trading tools. It doesn't give stock tips or run a research desk, so it suits people who make their own decisions.
Side by side
| Attribute | Upstox | Zerodha Kite |
|---|---|---|
| Pricing | Free plan + paid | Free plan + paid |
| Open source | No | No |
| Self-hostable | No | No |
| Platforms | Web, Android, iOS | Web, Android, iOS |
| Best for | Indian traders who want flat-fee F&O trading with TradingView charts and API access | Self-directed Indian investors and active traders who want low, flat fees and a clean charting app |
| Status | Active | Active |
Verified facts, compared
Facts both apps publish, checked on each vendor's own site.
| Fact | Upstox | Zerodha Kite |
|---|---|---|
| Equity delivery brokerage | ₹20 per executed order | ₹0 |
| Account opening | Free | Free for individual accounts |
Upstox vs Zerodha Kite pricing
Zerodha Kite: free plan + paid
We couldn't verify Zerodha Kite's plan details on its own site yet, so we don't list them.
Zerodha Kite pricing pagePlatforms
| Platform | Upstox | Zerodha Kite |
|---|---|---|
| Web | ||
| iOS | ||
| Android |
Upstox facts
7 of 7 verified- Equity delivery brokerage
- ₹20 per executed order
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Equity Delivery ₹20 per executed order”
- Mutual funds and IPOs
- ₹0 brokerage
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “₹ 0 Brokerage * On Mutual Funds and IPOs”
- Broking licence
- 2010
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Read More 2010 Its Official! We receive our licence to begin our trading business in India under Upstox Securities Pvt.”
- Users
- 2 crore+
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Loved & Trusted by 2 crore+ Indians”
- Account opening
- Free
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Account Opening Fees Free”
- Equity options brokerage
- Flat ₹20 per executed order
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Options Flat ₹20 per executed order.”
- Account maintenance
- ₹0 in the first year, then ₹300 + GST (non-BSDA)
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “AMC ZERO AMC is applicable for newly onboarded customers in the first year Non-BSDA users: AMC of ₹ 300 + GST BSDA Users: Know more 3.”
Zerodha Kite facts
8 of 8 verified- Intraday and F&O brokerage
- ₹20 or 0.03% per order, whichever is lower
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “Intraday and F&O trades Flat ₹ 20 or 0.03% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity trades.”
- Account opening
- Free for individual accounts
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “Individual account free”
- Market depth
- 20 levels (level 3 data)
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “20 market depth or level 3 data Exclusive access to level 3 data, or 20 marketdepth.”
- Founded
- 2010
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “We kick-started operations on the 15th of August, 2010”
- Equity delivery brokerage
- ₹0
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “absolutely free — ₹ 0 brokerage.”
- Intraday brokerage
- ₹20 or 0.03% per executed order, whichever is lower
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “Intraday and F&O trades Flat ₹ 20 or 0.03% (whichever is lower) per executed order on intraday trades across equity, currency, and commodity trades.”
- Options brokerage
- Flat ₹20 per executed order
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “Flat ₹20 on all option trades.”
- Demat AMC
- ₹300 a year + GST (non-BSDA accounts)
- Checked Nov 8, 2026zerodha.com(opens source in a new tab)
- “non-BSDA account, AMC is ₹300 per year + 18% GST, regardless of holdings value, charged quarterly.”
Pros and cons of Upstox
- Flat ₹20 maximum brokerage per order across segments
- No brokerage on mutual funds and IPOs
- TradingView charts and a trading API built in
- Equity delivery trades cost ₹20 per order, not free
- Account maintenance charge applies after the first year
- No research or stock advisory like a full-service broker
Pros and cons of Zerodha Kite
- No brokerage on equity delivery trades or direct mutual funds
- Flat ₹20 cap per intraday or F&O order
- Detailed charts, 20-level market depth and GTT orders
- Free Varsity courses and a public trading API
- Annual demat maintenance charge after the first year for many accounts
- No research reports or stock recommendations
- Mutual funds live in a separate Coin app rather than inside Kite
Other apps to consider
GrowwInstead of Upstox
No account maintenance charge at all and a simpler app for mutual fund and stock investors.
Angel OneInstead of Upstox
Adds research reports and advisory from a full-service broker with a large branch network.
ICICI DirectInstead of Zerodha Kite
Bank-linked 3-in-1 account and in-house research for ICICI Bank customers.
Motilal OswalInstead of Zerodha Kite
Full-service broker with daily research calls and personal advisors, for investors who want guidance.
ScreenerInstead of Zerodha Kite
Free deep fundamental research and screens for Indian stocks before you place trades.
Upstox vs Zerodha Kite: common questions
Is Upstox better than Zerodha Kite?
Upstox and Zerodha Kite are the two best-known flat-fee discount brokers in India, with the same ₹20 cap on F&O orders and similar account charges. The biggest difference is equity delivery: Zerodha charges ₹0, while Upstox charges ₹20 per executed order. Long-term stock investors lean towards Zerodha; traders who want TradingView charts, mutual funds and IPOs inside one app may prefer Upstox.
Is Upstox free?
Upstox has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is Zerodha Kite free?
Zerodha Kite has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is Upstox or Zerodha Kite open source?
Neither is open source.
Which platforms do Upstox and Zerodha Kite support?
Upstox: Web, Android and iOS. Zerodha Kite: Web, Android and iOS.