The Indian stock market has witnessed a surge in retail investor participation over the past decade, fueled by the rise of discount brokers and user-friendly trading platforms. Two of the most prominent players in this space are Zerodha and Groww, both of which have revolutionized the way Indians invest and trade. While Zerodha has been a pioneer in the discount brokerage model, Groww has quickly gained traction with its modern, mobile-first approach. This article provides an in-depth comparison of Zerodha and Groww, covering fees, brokerage charges, trading platforms, customer support, investment options, and more, to help you decide which platform best suits your needs.
Overview of Zerodha and Groww
Zerodha
Founded in 2010 by Nithin and Nikhil Kamath, Zerodha is India’s largest stockbroker by active client base. Known for its low-cost trading model, Zerodha disrupted the traditional brokerage industry by offering zero-brokerage equity delivery trades and a flat fee structure for other trades. Its flagship platform, Kite, is renowned for its robust features, catering to both beginners and seasoned traders. Zerodha also emphasizes financial education through initiatives like Varsity, a comprehensive learning resource.
Groww
Launched in 2016 by former Flipkart employees, Groww started as a mutual fund investment platform before expanding into stocks, derivatives, and other investment options. With a focus on simplicity and a mobile-first user experience, Groww has attracted a younger demographic of investors. Its clean interface and integrated tools make it an appealing choice for those new to investing. By 2025, Groww has solidified its position as a strong competitor to Zerodha.
Both platforms have their unique strengths, but how do they stack up across key parameters? Let’s dive into a detailed comparison.
1. Account Opening Fees
Starting with the cost of entry, both Zerodha and Groww offer free account opening (₹0). This eliminates any upfront financial barrier for new investors, making both platforms accessible to beginners. The account opening process for both brokers is fully online, leveraging e-KYC and Aadhaar-based verification, which ensures a seamless onboarding experience. Typically, accounts are activated within 24-48 hours, provided all documents are in order.
2. Annual Maintenance Charges (AMC)
While account opening is free, the cost of maintaining a demat account differs between the two platforms:
- Zerodha: Charges an Annual Maintenance Charge (AMC) of ₹300 per year (plus GST). This fee is applicable for maintaining the demat account, which holds your securities in electronic form.
- Groww: Offers zero AMC (₹0), making it a more cost-effective option for investors who want to minimize recurring expenses.
For long-term investors with minimal trading activity, Groww’s zero AMC provides a clear advantage. However, Zerodha’s AMC is relatively modest compared to traditional brokers, who often charge ₹500-₹1000 annually.
3. Brokerage for Equity Delivery
Equity delivery refers to buying and holding stocks for the long term, with shares transferred to your demat account. Brokerage charges for equity delivery are a critical factor for investors:
- Zerodha: Offers zero brokerage (₹0) for equity delivery trades. This makes Zerodha highly attractive for long-term investors who want to build a portfolio without incurring transaction costs.
- Groww: Charges ₹20 per trade for equity delivery, regardless of the trade value. For investors executing multiple trades, these costs can add up over time.
Verdict: Zerodha is the clear winner for equity delivery, as its zero-brokerage model eliminates costs for buy-and-hold investors. Groww’s flat ₹20 fee may be a drawback for those with frequent delivery trades, though it remains competitive compared to traditional brokers.
4. Brokerage for Equity Intraday
Intraday trading involves buying and selling stocks within the same trading day, with no delivery to the demat account. Brokerage charges for intraday trades are structured differently:
- Zerodha: Charges 0.03% of the trade value or ₹20 per executed order, whichever is lower. This structure benefits traders dealing with smaller trade values, as the maximum cost per order is capped at ₹20.
- Groww: Charges ₹20 per executed order or 0.05% of the trade value, whichever is lower. Similar to Zerodha, Groww caps the maximum fee at ₹20, but its percentage-based fee (0.05%) is slightly higher.
Example:
- For a ₹50,000 intraday trade:
- Zerodha: 0.03% of ₹50,000 = ₹15 (lower than ₹20, so ₹15 applies).
- Groww: 0.05% of ₹50,000 = ₹25, but capped at ₹20, so ₹20 applies.
- For a ₹1,00,000 intraday trade:
- Zerodha: 0.03% of ₹1,00,000 = ₹30, but capped at ₹20.
- Groww: 0.05% of ₹1,00,000 = ₹50, but capped at ₹20.
Verdict: Zerodha has a slight edge for smaller trades due to its lower percentage-based fee (0.03% vs. 0.05%). For larger trades, both platforms charge ₹20 per order, making them equally competitive.
5. Brokerage for Option Trading
Options trading involves contracts that give the buyer the right (but not the obligation) to buy or sell an underlying asset at a specific price. Both platforms have a straightforward fee structure:
- Zerodha: Charges ₹20 per order for options trading, regardless of the number of lots or contract value.
- Groww: Also charges ₹20 per order, aligning with Zerodha’s pricing.
Verdict: There’s no difference here—both platforms offer identical brokerage rates for options trading, making them equally cost-effective.
6. Brokerage for Futures Trading
Futures trading involves contracts to buy or sell an asset at a predetermined price on a future date. Similar to options, the brokerage structure is simple:
- Zerodha: Charges ₹20 per order for futures trading.
- Groww: Charges ₹20 per order, matching Zerodha’s fee.
Verdict: Both platforms are equally priced for futures trading, ensuring no cost advantage for either.
7. Trading Platforms
The trading platform is the heart of any brokerage service, as it determines how easily you can execute trades, analyze markets, and manage your portfolio.
Zerodha:
- Kite: Zerodha’s flagship platform is available on web, mobile, and desktop. Kite is known for its clean interface, fast execution, and advanced charting tools. It supports features like technical indicators, multi-timeframe analysis, and customizable watchlists.
- Additional tools: Zerodha offers Console (for portfolio tracking), Coin (for mutual fund investments), and Sentinel (for market alerts).
- Pros: Robust, feature-rich, and suitable for both beginners and advanced traders. The desktop version (Kite Connect API) is a bonus for algorithmic traders.
- Cons: The learning curve for advanced features may be steep for new users.
Groww:
- Groww Platform: Available on web and mobile, with no dedicated desktop app. Groww’s platform is designed for simplicity, with a mobile-first approach that appeals to younger investors. It offers basic charting, order placement, and portfolio tracking.
- Pros: Intuitive, modern, and ideal for beginners. The mobile app is highly rated for its user-friendly design.
- Cons: Lacks a desktop app and advanced charting tools compared to Zerodha.
Verdict: Zerodha’s Kite is more versatile, offering a desktop app and advanced features for active traders. Groww’s platform excels in simplicity and mobile usability, making it better for beginners or those who trade primarily on their phones.
8. Customer Support
Reliable customer support is crucial, especially during market hours when issues need quick resolution.
- Zerodha: Offers support via phone, email, and chat during business hours (typically 9 AM to 5 PM). Zerodha’s support is known for its efficiency, with a dedicated Support Portal for raising tickets. Additionally, its community forum (Z-Connect) allows users to interact and resolve queries.
- Groww: Also provides phone, email, and chat support during business hours. Groww’s support is accessible through its app and website, with a focus on quick responses for beginner queries.
Verdict: Both platforms offer comparable customer support channels. Zerodha may have a slight edge due to its community forum and detailed support portal, but Groww’s responsive team is equally effective for most users.
9. Investment Options
The range of investment options determines the flexibility of a platform for diversifying your portfolio.
- Zerodha: Supports equity, commodities, derivatives, and mutual funds. It also offers bonds and government securities through its Coin platform.
- Groww: Offers equity, commodities, derivatives, mutual funds, and IPOs. The inclusion of IPOs makes Groww appealing for investors looking to participate in new listings.
Verdict: Groww has a slight edge due to its IPO offerings, which Zerodha does not emphasize. However, both platforms cover a broad range of investment options suitable for most retail investors.
10. Research & Advisory Services
Access to research and advisory services can help investors make informed decisions.
- Zerodha: Provides basic research, including news updates, charts, and technical indicators through Kite. Its Varsity platform offers extensive educational content, but Zerodha does not provide personalized advisory services.
- Groww: Offers basic research, news, charts, and expert recommendations. Groww’s recommendations are tailored for beginners, providing curated stock and mutual fund picks.
Verdict: Groww’s expert recommendations give it an edge for new investors seeking guidance. Zerodha’s Varsity is excellent for self-learners, but it lacks the curated advice that Groww provides.
11. User Interface & Experience
A platform’s usability can significantly impact the trading experience.
- Zerodha: Kite’s interface is clean, intuitive, and easy to navigate. It balances simplicity for beginners with advanced features for experienced traders.
- Groww: The platform is modern, user-friendly, and mobile-first, with a focus on simplicity. Its design prioritizes ease of use, especially for new investors.
Verdict: Groww’s mobile-first design is ideal for users who prefer trading on their phones, while Zerodha’s Kite offers a more comprehensive experience across devices.
12. Additional Features
Both platforms offer unique features to enhance the user experience.
- Zerodha:
- Extensive educational resources through Varsity, covering topics like technical analysis, fundamental analysis, and derivatives trading.
- Direct market access via Kite Connect API, enabling algorithmic trading for advanced users.
- Groww:
- Integrated trading tools, such as portfolio trackers and market insights, seamlessly built into the app.
- Mutual fund investments with a focus on direct plans, which have lower expense ratios.
Verdict: Zerodha’s educational resources and API access cater to self-directed and advanced traders, while Groww’s integrated tools are more beginner-friendly.
Which Platform Should You Choose?
Choose Zerodha If:
- You’re a long-term investor who values zero-brokerage equity delivery.
- You prefer a robust trading platform with advanced charting and a desktop app.
- You’re interested in algorithmic trading or want access to extensive educational resources.
- You don’t mind paying a modest ₹300 AMC for a feature-rich experience.
Choose Groww If:
- You want zero AMC to minimize recurring costs.
- You’re a beginner or prefer a mobile-first, user-friendly platform.
- You’re interested in IPOs or want expert recommendations to guide your investments.
- You prioritize simplicity over advanced features.
Conclusion
Zerodha and Groww are both exceptional platforms that cater to different types of investors. Zerodha’s strength lies in its cost-effective equity delivery, versatile Kite platform, and educational resources, making it ideal for self-directed investors and active traders. Groww, with its zero AMC, mobile-first design, and beginner-friendly features like IPO access and expert recommendations, is perfect for new investors or those seeking simplicity.
Ultimately, the choice depends on your investment goals, trading frequency, and preference for platform features. If you’re focused on long-term wealth creation with minimal costs, Zerodha is hard to beat. If you’re starting your investment journey and want a hassle-free, guided experience, Groww is an excellent choice. Both platforms have democratized access to the Indian stock market, and you can’t go wrong with either.