Groww and Zerodha are India's two largest stock brokers, with about 1.34 crore and 68 lakh NSE active clients in September 2026. Zerodha charges nothing on equity delivery and ₹20 or 0.03% on intraday and futures. Groww charges ₹20 or 0.1% on delivery and intraday, with a ₹5 minimum, and ₹20 per F&O order. Choose Zerodha for free delivery and deeper trading tools. Choose Groww for a simpler app that also covers mutual funds, commodities and US stocks.
How do Groww and Zerodha compare at a glance?
The table compares Groww and Zerodha as of October 2026. All fees are from each broker's published pricing.
| Feature | Groww | Zerodha |
|---|---|---|
| Regulator and exchanges | SEBI broker INZ000301838. NSE, BSE, MCX | SEBI broker INZ000031633. NSE, BSE, MCX |
| Depository | CDSL and NSDL participant | CDSL participant |
| NSE active clients, September 2026 | About 1.34 crore, 29.2% share | 67.92 lakh, 14.7% share |
| Account opening and AMC | ₹0 opening, ₹0 AMC | ₹0 opening. AMC free in year one, then SEBI BSDA slabs up to ₹300 plus GST a year |
| Equity delivery brokerage | ₹20 or 0.1% per order, whichever is lower, minimum ₹5 | ₹0 |
| Intraday and F&O brokerage | ₹20 or 0.1% per intraday order, ₹20 per F&O order | ₹20 or 0.03% per intraday or futures order, ₹20 per options order |
| DP charge per sell | ₹16.50 plus ₹3.50 depository fee, plus GST | ₹15.34 per scrip, GST included |
| Mutual funds | Direct plans at zero charges. Own AMC, Groww Mutual Fund | Direct plans on Coin at zero commission. Own AMC, Zerodha Fund House |
| US stocks | Relaunched September 2026 via GIFT City, phased rollout | Not offered |
| Platforms and API | Groww app and web. Trade API ₹499 a month | Kite, Console, Coin, Varsity. Kite Connect free for orders, ₹500 a month with market data |
What is Groww, and what is Zerodha?
Groww is a Bengaluru investing app run by Groww Invest Tech Pvt Ltd, a SEBI-registered broker and a depository participant with both CDSL and NSDL. Groww started with mutual funds and added stocks in 2020. By September 2026 it had the most NSE active clients of any Indian broker, about 1.34 crore.
Zerodha is a Bengaluru discount broker run by Zerodha Broking Ltd, a SEBI-registered broker and CDSL depository participant founded in 2010. Zerodha built the Kite trading platform, the Coin mutual fund app and the Varsity education site. It had 67.92 lakh NSE active clients in September 2026, the second largest base in India.
What does each charge?
Zerodha is cheaper for buying and holding shares, and the two are close on trading. Figures are as of October 2026, from each broker's published pricing.
| Charge | Groww | Zerodha |
|---|---|---|
| Account opening | ₹0 | ₹0 for resident individuals |
| Annual maintenance | ₹0 | Year one free. Then ₹0 up to ₹4 lakh holdings, ₹100 plus GST up to ₹10 lakh, ₹300 plus GST above that |
| Equity delivery | ₹20 or 0.1% per order, whichever is lower, minimum ₹5 | ₹0 |
| Equity intraday | ₹20 or 0.1% per order, whichever is lower, minimum ₹5 | ₹20 or 0.03% per order, whichever is lower |
| Futures | ₹20 per order | ₹20 or 0.03% per order, whichever is lower |
| Options | ₹20 per order | ₹20 per order |
| DP charge on each sell | ₹16.50 plus ₹3.50 depository fee, plus GST | ₹15.34 per scrip, GST included |
| Pledge | ₹20 per ISIN | ₹30 plus GST per ISIN |
| Auto square-off | ₹50 plus GST per position | ₹50 per order |
| Trading API | ₹499 plus taxes a month | Free without market data, ₹500 a month with it |
Securities transaction tax, exchange transaction charges, SEBI turnover fees, stamp duty and GST are set by regulators and are identical at Groww and Zerodha. On a ₹1 lakh delivery buy, Groww's brokerage is ₹20 and Zerodha's is ₹0. The statutory charges of roughly ₹120 are the same at both. The AMC slabs follow the SEBI Basic Services Demat Account circular of June 2024.
Which products can I invest in on each?
Groww covers more product types, and Zerodha covers the core markets in more depth. Both offer NSE and BSE stocks, equity F&O, MCX commodities, ETFs, IPOs, bonds and government securities, and direct mutual funds. Zerodha also offers currency derivatives, and runs its own index funds and ETFs through Zerodha Fund House.
Groww adds US stocks. Groww closed its first US stocks service in 2024. It relaunched in September 2026 through its GIFT City Global Access Provider licence, with 10,000+ US stocks and ETFs in fractional units, rolled out in phases. Money sent for US stocks counts against the LRS limit of USD 250,000 a year, with TCS above ₹10 lakh. Zerodha offers no US or international stocks. Groww also runs its own fund house, Groww Mutual Fund.
How safe are my shares and money on each?
Shares bought through Groww or Zerodha sit in your own demat account at CDSL or NSDL, not with the broker. Both are SEBI-registered brokers that must settle unused client funds back to your bank under SEBI's running-account rules. Both are among the five largest brokers in India by active clients.
If a broker defaults, the NSE Investor Protection Fund pays up to ₹35 lakh per investor for claims after August 2024. Complaints against Groww or Zerodha that the broker does not resolve go to SEBI SCORES. Neither broker, and no protection fund, covers a fall in the value of what you buy.
What is day-to-day use like on Groww and Zerodha?
Groww is built for simplicity and Zerodha for depth. Groww's app and web platform put stocks, mutual funds, commodities, IPOs and US stocks in one place, with 24x7 phone and in-app chat support. Its Trade API costs ₹499 a month after a free trial tier without live data.
Zerodha's Kite offers advanced charting, GTT orders, basket orders and option-chain tools, with Console for reports and Coin for funds. Kite Connect is free for order placement and ₹500 a month per key with live and historical data. From October 2026, clients paying ₹2,000 or more in monthly brokerage earn that fee back as developer credits. Zerodha support runs through a ticket portal every day, with phone lines in weekday office hours.
What reports do I get at tax time from Groww and Zerodha?
Both give you the reports an Indian return needs. Zerodha's Console produces a tax P&L with short-term and long-term capital gains, speculative intraday income, F&O turnover and dividend income, plus holdings statements. Groww provides capital-gains and P&L statements and dividend records from its reports section.
Groww users who buy US stocks have one extra step. Foreign holdings go into Schedule FA of the Indian return every year, with peak and closing values, which Paasa's Schedule FA guide explains. Zerodha clients hold only Indian securities, so Schedule FA does not arise from a Zerodha account.
When is Groww the better choice?
Groww may suit you better than Zerodha if:
- You want stocks, mutual funds, commodities and US stocks in one app.
- You are starting out and value a simple interface and round-the-clock support.
- You trade options, where both charge ₹20 an order, and prefer Groww's app.
When is Zerodha the better choice?
Zerodha may suit you better than Groww if:
- You buy and hold shares, since equity delivery costs ₹0 brokerage.
- You trade actively and want Kite's charting, basket orders and the Kite Connect API.
- You want detailed tax P&L reports from Console and free courses on Varsity.
Should I choose Groww or Zerodha?
Choose Zerodha if your money mostly goes into shares you hold, or if you trade seriously. Choose Groww if you want one app for everything and are happy to pay up to ₹20 per delivery order.
| If you want… | Better fit |
|---|---|
| ₹0 brokerage on long-term stock purchases | Zerodha |
| Advanced charts, basket orders and an API with market data | Zerodha |
| Detailed tax P&L and free market education | Zerodha |
| Mutual funds, stocks and commodities in one simple app | Groww |
| US stocks alongside Indian investments | Groww |
| 24x7 phone and chat support | Groww |
The choice is not permanent. Shares move between Groww and Zerodha demat accounts by an off-market transfer, online through CDSL Easiest or with a delivery instruction slip. They keep their original purchase date and price. Many investors keep a Zerodha account for holdings and a Groww account for funds.
Disclosures
Fees and client numbers are from Groww's and Zerodha's published pricing and NSE data as of October 2026 and may change. Advisory services under the Paasa brand are offered by Arc Spire Advisory Private Limited, a SEBI Registered Non-Individual Investment Adviser, INA000021058. This article is not investment advice. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
