Investing in the stock market has become easier and more accessible with the advent of user-friendly platforms. Zerodha and Groww are two of the most popular discount brokers in India, known for their tech-driven platforms, low-cost trading options, and reliable customer support. But which one should you choose? This article provides a detailed comparison of Zerodha vs Groww, covering multiple aspects like brokerage fees, trading platforms, investment options, customer service, and more.
1. Overview of Zerodha and Groww
Zerodha was established in 2010 and has grown to become the largest stockbroker in India by the number of active clients. The company introduced the concept of discount broking in India and has been a pioneer in offering technology-driven services at minimal cost.
Groww, on the other hand, started as a platform for mutual fund investments in 2016 and later expanded its offerings to stocks, IPOs, and more. With its user-friendly app and seamless onboarding process, Groww has gained immense popularity, especially among millennial investors.
Here’s a quick overview of the two brokers:
| Feature | Zerodha | Groww |
| Founded | 2010 | 2016 |
| Headquarters | Bangalore, Karnataka | Bangalore, Karnataka |
| Number of Active Clients | 10+ Million | 3+ Million |
| Products Offered | Stocks, Mutual Funds, Bonds, IPOs, Futures & Options, Currency, and Commodities | Stocks, Mutual Funds, IPOs, ETFs |
| Trading Platform | Kite (Web, Mobile), Console, Coin | Groww (App, Web) |
| Best Suited For | Experienced traders, long-term investors | Beginners, mutual fund investors |
2. Brokerage Charges Comparison
Brokerage charges play a crucial role in determining the overall cost of trading. Let’s compare the brokerage charges of Zerodha and Groww:
| Type of Transaction | Zerodha | Groww |
| Equity Delivery | ₹0 | ₹0 |
| Equity Intraday | 0.03% or ₹20 per executed order (whichever is lower) | 0.05% or ₹20 per executed order (whichever is lower) |
| Equity Futures | 0.03% or ₹20 per executed order (whichever is lower) | 0.05% or ₹20 per executed order (whichever is lower) |
| Equity Options | Flat ₹20 per executed order | Flat ₹20 per executed order |
| Currency Futures | 0.03% or ₹20 per executed order (whichever is lower) | Not Available |
| Currency Options | Flat ₹20 per executed order | Not Available |
| Commodity | 0.03% or ₹20 per executed order (whichever is lower) | Not Available |
Key Takeaway: Both brokers offer free equity delivery, but Zerodha charges slightly lower for intraday and F&O trading. Groww is limited to equity and mutual funds, making Zerodha the better option for those looking to trade in commodities and currencies.
3. Trading Platforms
A well-designed trading platform can significantly enhance your trading experience. Here’s how the trading platforms of Zerodha and Groww compare:
| Feature | Zerodha – Kite | Groww |
| User Interface | Simple, intuitive, suitable for traders | Easy to use, great for beginners |
| Charting Tools | Advanced charting tools with 100+ indicators | Basic charting with limited indicators |
| Order Types | Multiple order types (CNC, MIS, BO, CO) | Basic order types (CNC, Intraday) |
| Investment Options | Stocks, mutual funds, F&O, commodities, currency | Stocks, mutual funds |
| Speed and Performance | Fast and reliable | Good, but slightly slower than Zerodha |
| Platform Availability | Web, Mobile (iOS and Android) | Web, Mobile (iOS and Android) |
Key Takeaway: Zerodha’s Kite platform is more feature-rich and offers a better trading experience for active traders. Groww’s platform is more suitable for beginners with a focus on simplicity.
4. Account Opening and Maintenance Charges
Here’s a look at the account opening and maintenance charges for both brokers:
| Charges | Zerodha | Groww |
| Account Opening (Trading & Demat) | ₹200 for Trading & Demat | ₹0 |
| Annual Maintenance (Demat) | ₹300/year | ₹0 |
Key Takeaway: Groww offers free account opening and no annual maintenance charges, making it a cost-effective option for new investors.
5. Margin and Leverage
Margin and leverage play a vital role for traders looking to trade larger positions with limited capital. Here’s how the two brokers compare in terms of margin:
| Segment | Zerodha | Groww |
| Equity Intraday | Up to 5x leverage | Up to 3x leverage |
| Equity Delivery | No leverage | No leverage |
| Equity Futures & Options | Up to 2x leverage | No leverage |
Key Takeaway: Zerodha offers higher leverage for intraday trades, making it more suitable for active traders. Both offer facility to calculate brokerage charges – Zerodha Brokerage Calculator and Groww Brokerage Calculator.
6. Investment Options
While both brokers provide options for stock and mutual fund investments, Zerodha offers a broader range of products:
| Investment Options | Zerodha | Groww |
| Stocks | ✓ | ✓ |
| Mutual Funds | ✓ | ✓ |
| ETFs | ✓ | ✓ |
| IPOs | ✓ | ✓ |
| Bonds | ✓ | ✕ |
| Commodities | ✓ | ✕ |
| Currency | ✓ | ✕ |
Key Takeaway: Zerodha offers more diverse investment options, making it a better choice for those looking to diversify their portfolio.
7. Customer Support
Customer support is a crucial aspect to consider when choosing a broker. Here’s a comparison of the customer support services offered by Zerodha and Groww:
| Customer Support Features | Zerodha | Groww |
| Email Support | ✓ | ✓ |
| Phone Support | ✓ | ✓ |
| Live Chat Support | ✕ | ✓ |
| Help Center/Knowledge Base | Extensive, detailed articles, and tutorials | Limited, basic information |
| Social Media Support | Active on Twitter | Active on Twitter |
Key Takeaway: Groww provides live chat support, which is not available with Zerodha. However, Zerodha’s knowledge base is more comprehensive.
8. Final Verdict
Both Zerodha and Groww cater to different segments of investors:
- Choose Zerodha if: You are an experienced trader or investor looking for a feature-rich platform with low brokerage charges and a variety of investment options.
- Choose Groww if: You are a beginner or a mutual fund investor looking for a user-friendly platform with minimal costs.
Overall, the choice between Zerodha and Groww depends on your investment goals, experience, and preference for trading tools as they both are the best stock broker in India. If you prioritize advanced trading features and low intraday charges, Zerodha is the clear winner. On the other hand, if you are just starting out and need a simple platform with zero account maintenance fees, Groww is an excellent choice.
