Paytm Money 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.

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.

Opening a Demat account on Paytm money is super easy. Follow the below steps:

1. Download the Paytm Money app and log in. If you do not have a Paytm account, you can create one using your email id and mobile number.

2. Fill in the required details like PAN no., address, annual income, etc., to complete your KYC.

3. The next step is Stock market Onboarding. Here, you are required to provide your trading preferences and trading experience.

4. Enter your Aadhar number on the NSDL e-sign portal. Doing this will send an OTP to your registered mobile number. Enter it to verify. This will complete the E-signing on the Account Opening Form.

5. Paytm Money will now register your details with the depository and exchanges. Once registered, your account will be activated for trading.

Opening a Demat account on Paytm Money is absolutely free. The broker does not charge any annual maintenance fees either. However, Rs.200 is charged for opening a trading account with Paytm Money, a one-time payment. 

The demand charge charged by Paytm Money is Rs.250 per 100 shares. This amount is inclusive of the depository transaction charge.