FYERS vs Upstox vs Groww

Groww is a popular, SEBI registered investment adviser. All personal information entered on the platform is stored using 256-bit encryption. Also, all transactions are done through Asset management companies (AMCs) for mutual funds & Bombay Stock Exchange (BSE) for stocks, which means that at no stage does your money reach the company itself.

The Demat account and trading account opening charges with Groww are free. The annual maintenance charge is also free. Additionally, there is no margin money requirement. 

Groww charges an Rs.20 per order or 0.05% whichever is low for Equity Delivery, Equity Intraday, Equity Futures, Equity Options. Commodity & Currency trading is presently not available with Groww.

Groww is a discount broker which is aimed at providing modern online-based financial solutions to its clients at a minimal cost.

Yes, account opening is free with Fyers. For a limited time, Fyers is also giving free AMC for life to new account openings.

Upon submission and verification of necessary documents, your account will be opened within 24 working hours.

The following documents are required for opening a Demat account with Fyers:

1. Proof of Identity (PAN card)

2. Proof of Address (Passport, Electricity bill, etc.)

3. Any one of these documents, if the customer wants to trade in derivatives; Copy of ITR acknowledgement / Salary Slip, Copy of Form 16 / Bank account statement for the last 6 months / Copy of Demat account holding statement / Networth certificate / Relevant documents substantiating ownership of assets/self-declaration with relevant supporting documents.

4. Photo or scanned copy of cancelled cheque/passbook/bank statement with IFSC/MICR code.

Upstox account is a 2-in-1 account. It is a combination of a trading and a demat account. The trading account gives you access to stock exchanges like NSE, BSE and MCX etc. And the demat account is used to hold securities like stocks, mutual funds etc.

The upstox account allows investors to trade in stocks, equity derivatives, currency and commodities. It also offers online mutual fund investment in a lump sum or SIP way.

You can open the Upstox account in 2 easy ways:

1.      Upstox Online Account Opening

• Click on to open an account

•  Enter your Email Address and Mobile Number.

•  Fill in your personal details and bank details.

• Review, confirm and submit the application.

2.      Upstox Offline Account Opening

•  Visit Upstox website, Go to 'Support'

• Click 'Download Forms'

• Click 'Demat & Trading Account'

• Print the form

• Fill and sign the form.

• Attach all the required documents.

• Courier the filled form to Upstox registered office. 

Upstox offers brokerage free equity delivery trading. For all other segments, it charges flat Rs. 20 or 0.01% per executed order. Also, customers have to pay government taxes, exchange turnover charges, demat debit transaction fees etc. Click the link to know more about Upstox brokerage charges.