Top 5 Zerodha Alternatives and Competitors In 2022

Stockbrokers have a high demand in the market as everyone wants to earn some extra money by investing in stocks, mutual funds, shares, etc. Earning money from shares or other financial instruments is not as easy as it sounds. Novice investors have to put a lot of effort for earning side money as they don’t have any knowledge about investments. That is the reason that they take help from stockbrokers But finding the best and most reliable stock broker is really a challenging task because there are unlimited numbers of brokers available on the internet. In this article, we compare the top 5 Zerodha Alternatives and Competitors.

Zerodha is trending on the internet because of its services and offerings and it is the biggest stockbroking firm in India. As we stated above, various brokers are available in the market, but we have listed the best Zerodha Alternatives. Let’s cover them one by one in detail.

Top 5 Zerodha Alternatives

1. Upstox

Uptox, an Indian-based stockbroker established in 2010 and is known for offering trading instruments at unbeatable prices. Moreover, it offers a good selection of trading instruments, including equities, commodities, currency, futures, options, etc. Upstox is the one of best Zerodha Alternatives in 2022.

Uptox is a trustworthy brokerage firm that is regulated and controlled by SEBI. It has been registered with the best stock exchanges, such as BSE, NSE, MCX, CDSL, and NSDL. The financial service provider company has the support of renowned investors like Ratan Tata, GVK Davix, and Tiger Global.

Upstox Pros and Cons

We know that every brokerage platforms have some strengths and weaknesses no single trading platform is perfect. We have listed below some of the pros and cons of Upstox’

Pros	Cons
One of the best brokers to start trading in India	The platform charges call & trade @ 20 Rs per trade
Free Demat Account
No Charges on Delivery Trades
No Paperwork
Fully Digital Services
Zero Brokerage on Digital Trades
Regulated by SEBI
Seamless Transactions

Upstox Charges and Fees

• Uptox has a clear and transparent fee structure that we have listed below:-
• No Commission
• No Account Maintenance for Demat Account
• The platform charges Rs 20 as Brokerage on Equity, F&O, commodity, and currency investments.
• The broker charges Rs 20 per order for all non-delivery-based transactions.
• Broker does not charge any fee on delivery trades for all financial investments.

Download Upstox and get Rs.300

2. Groww

Groww is a safe and secure platform for investing in stockbroking and direct mutual funds. It came into existence in 2016 to promote awareness among investors to invest in mutual funds and stocks. The online broker has a partnership with world-class investors, namely Ribbit Capital, Sequoia Capita, YCombinator, and Tiger Global Management.

Groww the brokerage firm, is 100% safe and secure for investing in mutual funds and stocks. It is regulated and controlled by the Securities Exchange Board of India, which monitors and reviews all the transactions of Groww. Groww is the fastest-growing platform and another one of the best Zerodha Alternatives.

In terms of security, Groww has implemented advanced security measures such as SSL certification and 128-bit encryption. So, you don’t have to be worried as your funds are completely safe & secured with the trading platforms.

Groww Pros and Cons

Zero Commission on Direct Mutual Funds	The platform does not have commodity and currency trading options
Fully Digital Account Opening Process	Does not provide any recommendations, trading advice, and analysis on any investment.
Ebook and Blogs for Educational Resources	Advanced orders such as GTT, Bracket, Cover orders, and AMO orders are unavailable on the brokerage platform.
You can also invest in US Stocks, Digital gold, and Corporate FD	It charges high fees on every instrument and transaction.
Mutual Funds Offers Tax Benefits
Mutual Funds are Safest from the Investment Point of View
You can open a demat and trading account easily
Simple and user-friendly Interface

Groww Charges & Fees

• Groww Auto Square Off Charges are higher in comparison to other brokers.
• Minimal brokerage charges
• Free Equity Delivery
• No Charges on Annual Maintenance
• The brokerage firm charges GST additionally on Exchange Transactions and Auto Square Off charges.

3. ShareKhan

Sharekhan, India’s largest stockbroker, was established in 2000 that offers a wide range of trading instruments. It includes equity, commodity, and currency segments, IPOs, portfolio management services, and mutual funds. The broker also provides stock recommendations or suggestions to their clients from the investment point of view. ShareKhan is the one of best Zerodha Alternatives according to users.

Sharekhan is a legit platform for trading as it is regulated by the Securities and Exchange Board of India (SEBI). Later in 2016, Sharekhan was acquired by BNP Paribas as it is a well-known bank in Europe. Also, it has been listed in Euronext Paris, France’s securities market.

Sharekhan Pros & Cons

Pros	Cons
Good Customer Support	Charges fee from average to high on trading
Wide Range of Trading Instruments	Available only in Indian Markets
Research advice or suggestions on stocks	Funding is possible only through bank transfer
Online and Classroom training through seminars.
Call & Trade Facility is Absolutely Free
Different Trading Platforms according to customer requirements
Sharekhan has various branches all over India

Sharekhan Fee

• No account opening charges
• No charges on Trading Annual Maintenance for the first year
• The platform charge Rs 400 (after the completion of 1 year) for Demat Account Annual Maintenance Charges
• Brokerage charges may vary from instrument to instrument depending on what instrument you are choosing for the investment.

4. AngelOne

Angel One, previously known as Angel Broking, is a full-fledged stockbroker that has been offering brokerage services for more than 30 years. Recently, in 2019 the broker changed his business model from percentage brokerage to flat rates. For seamless transactions and ease of customers, the broker is offering digital (online) services.

Angel One offers personal guidance or suggestions to their clients regarding investments in the stock market. Tools such as research analysis, research reports on companies, and value-adding services are offered by the broker; thus, it helps investors make wise decisions related to investment.

AngelOne Pros & Cons

Pros	Cons
Offers Full-Fledge Brokerage services at the lowest fees	3-in 1 account facility is not available
Experts Advice on Financial Instruments	You have to pay extra for the call & trade facility
Research Reports & Tools are Available
Fast Execution on Account Opening Process
Zero-Brokerage on Long-Term Trades

Angel Broking Fees and Charges

• No charges on Delivery
• The broker charges Rs 20 per trade on Intraday Trading, Equity F&O, Currency F&O, and Commodity F&O.
• No Charges on Account Opening
• The traders have to pay Rs 240 as an Annual Maintenance Charge

5. 5Paisa

5Paisa is another Zerodha Alternatives as it is a one-stop solution for all financial services such as Equity Trading, Mutual Funds, Commodities, Currencies, Insurance, etc. The financial service provider is known for faster execution as well as charging the lowest fees on all its product offerings. Likewise other trading platforms, 5paisa also offers recommendations or advice on investments to their traders.

5Paisa Charges

• No charges on account opening
• Rs 45 per month as Annual Maintenance charges apply only in the month when you trade.
• The broker charges Rs 20 per trade on delivery trading, Intraday Trading, Equity Futures, Equity Options: Currency Futures Currency Options

Conclusion

Above we have covered the best 5 Zerodha Alternatives as it depends on the trader which is best for them. The trading, withdrawal, deposit, and account opening fee may vary from broker to broker; some broker charge high rates while other does not charge anything. It is recommended that the traders choose the best stock brokers according to their trading requirements.

Also read:- Top 13 Best Bluestacks Alternatives