India’s top three brokers—Zerodha, Upstox, and Angel One—look similar on brokerage fees but differ in features, platforms, and research. In 2025, choosing the right one depends on whether you want a clean UI, modern app, or in-depth research support.
India Snapshot
- Brokerage Charges (Equity Delivery):
- Zerodha: ₹0
- Upstox: ₹0
- Angel One: ₹0
- Intraday / F&O Brokerage:
- Zerodha: Flat ₹20/order
- Upstox: Flat ₹20/order
- Angel One: Flat ₹20/order
- Margin: Reduced per SEBI norms; 5x–10x on select intraday.
- Account Opening: ₹0 (online with Aadhaar + PAN + UPI).
- GST Invoice: Available for charges.
Open your free demat account with India’s top brokers:
Open Zerodha Account
Open Upstox Account
Open Angel One Account
Platform Comparison (2025)
| Feature | Zerodha (Kite) |
Upstox (Pro Web + App) |
Angel One (App + Smart Store) |
|---|---|---|---|
| Brokerage | ₹0 delivery, ₹20 intraday/F&O | Same as Zerodha | Same as Zerodha |
| Margin | Up to 5x intraday | Up to 5x intraday | Up to 10x intraday |
| App UX | Clean, stable | Modern, fast | Feature-rich, slightly heavy |
| Research Reports | No | Basic insights | Yes, in-app + Smart Store |
| Mutual Funds (Direct) | Yes (Coin) | Yes | Yes |
| IPO via UPI | Yes | Yes | Yes |
| Best For | Experienced traders | Beginners + tech users | Investors needing research |
Which Broker Fits You in 2025?
- Pick Zerodha if you want clean UI + trust + widest adoption.
- Pick Upstox if you’re a beginner or want a slick app at lowest cost.
- Pick Angel One if you need free research, advisory, and Smart Store plugins.
Pros and Cons
Zerodha
Most trusted brand
Kite = stable + fast
No research/advisory
Average customer support
Upstox
Free delivery, flat ₹20 brokerage
Modern app UX
Occasional tech issues during volatility
Limited research
Angel One
Free delivery, flat ₹20 brokerage
Built-in research reports + Smart Store
Higher intraday margin
App heavier vs others
Smart Strategy for 2025
- Casual investors → Zerodha (trust + simplicity).
- Young traders → Upstox (budget + modern UX).
- Research-led investors → Angel One (advisory + margin).
- Always check margin policies post-SEBI updates before trading intraday.
- Don’t chase brokers only for leverage—focus on execution quality.
Compare and open your free demat account today:
Zerodha | Upstox | Angel One
In 2025, Zerodha, Upstox, and Angel One still dominate India’s brokerage market. With zero brokerage for delivery and flat ₹20 intraday, costs are nearly identical. The difference lies in platform stability, research availability, and app experience. For most beginners, Upstox is a good start. For trust, Zerodha wins. For research + margin, Angel One is best.
