Groww overtook Zerodha in 2023 to become India’s largest stock broker by active customers, and the gap has only widened. With 4 crore plus Indians investing through the app, Groww has set the tone for what a modern Indian broker looks like: free demat, zero AMC, and a clean mobile-first interface. But Groww is not the cheapest on all order types, the fastest on F&O execution, or the deepest on research. Active traders and serious investors often outgrow it.
This guide compares 7 of the best Groww alternatives for stocks, mutual funds, F&O trading, and IPO applications. Whether you want a more battle-tested platform, lower brokerage on specific order types, deeper research, or a bank-backed broker for safety, the right pick depends on what you actually trade and how often.
Why people leave Groww
- F&O execution speed lags Zerodha and Upstox. During high-volatility sessions, Reddit threads on r/IndianStreetBets and r/IndiaInvestments document order delays and chart refresh issues. For intraday and F&O traders, milliseconds matter.
- Research depth is thin. Groww has fundamentals and basic technicals, but it does not match Angel One’s research desk or ICICIdirect’s advisory reports. Serious long-term investors look elsewhere.
- Charting is functional but not pro-grade. TradingView integration is in, but the chart workflow trails Zerodha’s Kite and Upstox’s chart tools on indicator depth and drawing tools.
- Customer support gaps surface on edge cases. Standard support is fine; complex issues (corporate actions, dividend mismatches, share transfer disputes) take longer to resolve than at older brokers.
- MTF (Margin Trading Facility) terms are tighter. Groww’s MTF is improving, but Angel One and 5paisa offer broader pledge eligibility and longer hold periods on equivalent margins.
Which app should you choose?
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Zerodha Kite if you want the original discount broker with the deepest community knowledge base and the largest AUM. Kite’s chart and order execution are the industry reference.
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Upstox if you want low-cost trading with fast order execution and a clean interface. Backed by Tiger Global and Ratan Tata, Upstox is a credible Zerodha alternative.
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Angel One if you want research and advisory alongside trading. Angel offers in-house research, ARQ Prime advisory, and a strong brand for newer investors.
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ICICIdirect if you want a bank-backed broker with a tightly integrated 3-in-1 demat and savings account. The premium pricing comes with the security of a full-service bank.
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INDmoney if you want a unified investment dashboard plus US stocks. INDmoney tracks all your investments and lets you buy fractional US shares.
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Paytm Money if you want a clean broker with simple pricing and tight integration with Paytm UPI. Built for first-time investors.
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5paisa if you want flat Rs 20 per order including delivery. The cheapest broker on delivery trades.
Stay on Groww if you mostly invest in mutual funds via SIP, hold a long-term stock portfolio, and rarely trade F&O. Groww’s home screen is the easiest mutual fund flow in the market, and the broker side is fine for buy-and-hold.
Quick comparison
| App | Best for | Equity delivery | Intraday and F&O | MF | AMC |
|---|---|---|---|---|---|
| Zerodha Kite | Pro-grade trading and charting | Free | Rs 20 or 0.03% | Free direct | Rs 0 |
| Upstox | Low-cost fast execution | Rs 20 or 2.5% (lower) | Rs 20 flat | Free direct | Rs 0 |
| Angel One | Research and advisory | Rs 20 or 0.1% (lower) | Rs 20 or 0.03% (lower) | Free direct | Rs 0 |
| ICICIdirect | Bank-backed 3-in-1 | 0.275% (per slab) | 0.275% (per slab) | Free direct | Rs 0 |
| INDmoney | US stocks plus dashboard | Free | Rs 20 flat | Free direct | Rs 0 |
| Paytm Money | Simple first-time investing | Rs 15 flat | Rs 15 flat | Free direct | Rs 0 |
| 5paisa | Flat Rs 20 across segments | Rs 20 flat | Rs 20 flat | Free direct | Rs 0 |
1. Zerodha Kite — best for pro-grade charting and execution
Zerodha Kite remains the industry reference for pro-grade order execution, charting, and the largest brokerage AUM in India. The Kite app handles equity delivery, intraday, F&O, currency, commodities, and bonds. Chart workflows go deep with custom indicators, drawing tools, multi-timeframe analysis, and a stable order ladder for F&O.
Beyond trading, Zerodha’s ecosystem is the broadest in the category: Coin for direct mutual funds, Console for portfolio analytics, Varsity for free investor education, and Kite Connect for algorithmic traders. The community knowledge base on Tradingqna is the largest in India.
Kite vs Groww is pro tools vs first-time-friendly. Kite is denser to learn and the home screen is less hand-holding. F&O traders, intraday traders, and long-term investors who value execution quality lean toward Kite.
Advantages:
- Industry-reference order execution and chart workflows.
- Coin, Console, Varsity, and Kite Connect ecosystem.
- Largest community knowledge base (Tradingqna, Z-Connect).
Where it falls short: Account opening fees apply (Rs 200 for equity, Rs 100 for commodity). UI is denser and less hand-holding than Groww. No MTF for new users without explicit opt-in.
Pricing: Equity delivery free. Intraday and F&O Rs 20 per executed order or 0.03%, whichever is lower. AMC Rs 0.
Migrating from Groww: Open Zerodha Kite demat (account fee, KYC). Transfer existing holdings via CDSL/NSDL inter-DP transfer. Manual entry of MF holdings into Coin or a fresh start are the options for the MF book.
Bottom line: Switch to Kite if you trade F&O, intraday, or want industry-best charting. Stay on Groww if you only invest long-term and rarely trade.
2. Upstox — best low-cost fast execution
Upstox is a credible Zerodha alternative backed by Tiger Global and Ratan Tata. The app is fast, clean, and competitive on pricing: Rs 20 flat per executed order on intraday and F&O, free direct mutual funds, and free demat account opening for many promotional cohorts.
Upstox supports stocks, F&O, commodities, currencies, MFs, IPOs, and bonds. The 2024 redesign tightened the home screen and brought order placement to fewer taps. Charting is solid, though the indicator library trails Kite’s depth.
Upstox vs Groww is execution-focused vs investing-focused. Upstox is built for users who actually place orders frequently; Groww optimises for the SIP investor.
Advantages:
- Rs 20 flat across segments.
- Fast order execution, clean interface.
- Tiger Global and Ratan Tata backing.
Where it falls short: Research desk is thinner than Angel One. Indicator depth on charts trails Kite.
Pricing: Equity delivery Rs 20 or 2.5% (lower); intraday and F&O Rs 20 flat per executed order; AMC Rs 0.
Migrating from Groww: Open Upstox demat, e-KYC, transfer holdings via inter-DP transfer.
Bottom line: Pick Upstox if you trade often and want a clean low-cost broker without learning Kite’s depth.
3. Angel One — best research and advisory
Angel One is the closest discount broker to a full-service broker. Pricing is competitive (Rs 20 or 0.03%, lower, on intraday and F&O; Rs 20 or 0.1%, lower, on delivery), and the differentiator is research depth: in-house research desk, ARQ Prime advisory engine, smart-API for algo trading, and SmartAPI bridge for system traders.
For Groww users who want a real research view alongside the price chart, Angel One is the closest jump. The app has IPOs, mutual funds, F&O, currency, commodities, bonds, ETFs, and SmartMoney advisory.
Angel One vs Groww is full-service-lite vs pure discount. Angel offers more analyst input; Groww trusts you to figure out the trade.
Advantages:
- In-house research and ARQ Prime advisory.
- SmartAPI for algo and system traders.
- Wide product range including bonds and IPOs.
Where it falls short: UI feels denser than Groww or Upstox. Some legacy features (ledger views, slip prints) hark back to traditional broker workflows.
Pricing: Equity delivery Rs 20 or 0.1% (lower). Intraday and F&O Rs 20 or 0.03% (lower). AMC Rs 0.
Migrating from Groww: Open Angel One demat, e-KYC, transfer holdings inter-DP.
Bottom line: Pick Angel One if you want research and advisory in the same app as your trades.
4. ICICIdirect — best bank-backed broker
ICICIdirect offers a true 3-in-1 setup: ICICI Bank savings, ICICI Securities demat, and the brokerage account, all linked. Funds settle the same day and there is no separate transfer step between bank and broker. The pricing is higher than discount brokers (per-slab brokerage on delivery, intraday, and F&O), but the integration with ICICI Bank is tight.
For Groww users who already bank with ICICI and want the smoothest possible cash flow between savings and trading, ICICIdirect saves friction. The research desk is large and the brand is one of the safest in India.
ICICIdirect vs Groww is integrated bank-broker vs standalone fintech. Bank-backed comes with higher fees but stronger continuity if either Groww or its parent runs into regulatory issues.
Advantages:
- True 3-in-1 bank, demat, broker.
- Strong research desk and advisory.
- Bank-backed safety.
Where it falls short: Brokerage is meaningfully higher than discount brokers. UI feels dated next to Groww or Upstox.
Pricing: Per-slab brokerage starting at 0.275% on delivery; higher on F&O without the discount-broker package.
Migrating from Groww: Open ICICIdirect via ICICI Bank net banking or directly. Transfer holdings via inter-DP.
Bottom line: Pick ICICIdirect if you already bank with ICICI and want zero-friction trade-bank integration with a research-backed broker.
5. INDmoney — best unified dashboard plus US stocks
INDmoney is a hybrid investment dashboard plus broker. You can track all your investments across mutual funds, stocks, EPF, PPF, FDs, and credit cards in one place, then invest in Indian stocks, mutual funds, US stocks (fractional shares from $1), and digital gold.
US stock access is the differentiator. For Groww users who want exposure to Apple, Tesla, or US ETFs without juggling a separate broker, INDmoney handles the LRS compliance and FX in-app. The app also offers a US savings account and a built-in credit card.
INDmoney vs Groww is global plus dashboard vs India-focused broker. INDmoney’s US stock access is the headline value.
Advantages:
- Fractional US stock investing from $1.
- Unified dashboard across all asset classes.
- US savings account and embedded credit card.
Where it falls short: Indian stocks brokerage is competitive but not the lowest. F&O trading is less developed than at Kite or Upstox.
Pricing: Equity delivery free for Indian stocks. F&O Rs 20 flat. US stocks involve LRS-compliant FX margins. AMC Rs 0.
Migrating from Groww: Open INDmoney demat, e-KYC, transfer holdings. US stock onboarding requires LRS-related KYC.
Bottom line: Pick INDmoney if you want a dashboard view plus US stocks alongside Indian investing.
6. Paytm Money — best simple broker for first-time investors
Paytm Money is the broker arm of Paytm and is registered with SEBI and PFRDA. Pricing is simple: Rs 15 flat per executed order on intraday and F&O, free delivery, free direct mutual funds, and free demat account opening.
The app is the cleanest first-time investor experience in India. SIPs, lump sum MF investment, stocks, IPOs, and F&O sit under clean tabs. NPS Tier-1 and Tier-2 contributions are also supported. For Groww users who already use Paytm UPI heavily and want broker integration with the same KYC, Paytm Money is the obvious bundle.
Paytm Money vs Groww is two clean fintech brokers. Pricing is similar; Paytm Money’s flat Rs 15 is slightly lower than Groww on intraday and F&O.
Advantages:
- Flat Rs 15 per executed order on intraday and F&O.
- Free direct mutual funds and free delivery trades.
- NPS support.
Where it falls short: Trading volume on F&O lower than Kite or Upstox; some advanced features (basket orders, smart orders) lag. Customer support is mostly chat-only.
Pricing: Rs 15 flat per executed order on intraday and F&O. Free delivery. Free direct MF. AMC Rs 0.
Migrating from Groww: Open Paytm Money demat via Paytm app, e-KYC, transfer holdings via inter-DP.
Bottom line: Pick Paytm Money if you want a clean first-time broker with the cheapest flat fee on intraday and F&O.
7. 5paisa — best for flat Rs 20 across segments
5paisa offers flat Rs 20 per executed order across all segments (delivery, intraday, F&O, currency, commodities) on the basic plan, with paid plans bringing the fee down to Rs 10. The app supports stocks, MFs, ETFs, IPOs, F&O, insurance through 5paisa Insurance, and personal loans through partner NBFCs.
For Groww users who run a large delivery portfolio and pay incidental brokerage on rebalancing, 5paisa’s flat Rs 20 on delivery is a real saving compared to Angel One or ICICIdirect. The platform is less polished than Kite or Upstox, but the price is competitive.
5paisa vs Groww is price-driven discount vs growth-driven discount. 5paisa wins on delivery flat fee.
Advantages:
- Flat Rs 20 per order across segments.
- Paid plans reduce per-order fee to Rs 10.
- Insurance and loan products built in.
Where it falls short: UI feels more dated than Groww, Upstox, or Kite. Customer support inconsistent.
Pricing: Rs 20 per executed order across segments. AMC Rs 0.
Migrating from Groww: Open 5paisa demat, e-KYC, transfer holdings inter-DP.
Bottom line: Pick 5paisa if delivery trades make up the bulk of your activity and you want the lowest flat fee.
How to choose
Pick Zerodha Kite if you trade F&O, intraday, or run a complex options book. Kite’s execution and charting are the industry reference.
Pick Upstox if you want a Zerodha-style low-cost fast execution broker with a cleaner home screen and modern interface.
Pick Angel One if you want research and advisory in the same app where you trade. The in-house research desk and ARQ Prime advisory are real differentiators.
Pick ICICIdirect if you bank with ICICI and want zero-friction movement between savings and trading account. The pricing is higher but the integration is unmatched.
Pick INDmoney if you want US stocks and a unified investment dashboard across asset classes.
Pick Paytm Money if you want the cleanest first-time investor app with a flat Rs 15 per order on intraday and F&O.
Pick 5paisa if you run a large delivery portfolio and want the lowest flat fee on equity delivery.
Stay on Groww if mutual fund SIPs and long-term stock investing make up most of your activity and the volume of F&O trades is low. Groww’s mutual fund flow is the simplest in the market and the broker side is fine for buy-and-hold.
FAQ
Is Groww or Zerodha better in 2026? For active F&O and intraday traders, Zerodha Kite is faster and the charts are deeper. For mutual fund-heavy investors and long-term stock holders, Groww is simpler. Both are SEBI-registered and equally safe.
Which broker has zero brokerage on delivery? Zerodha, Groww, Upstox (delivery from Rs 0 to Rs 20), and Paytm Money all offer free or very low equity delivery. ICICIdirect and Angel One charge per-slab on delivery without the discount-broker package.
Can I transfer my Groww holdings to another broker? Yes. Inter-DP transfers (CDSL to NSDL or within the same depository) work through both apps. Submit a transfer request from the source broker, fund the new demat fee, and holdings move in 2 to 4 working days. Mutual fund units transfer via folio update with the AMC.
Which broker is safest for first-time investors in 2026? ICICIdirect (bank-backed) and Zerodha (largest by AUM, established 2010) are the most established. Groww is the largest by active customers but younger. All are SEBI-registered and use the same NSE/BSE rails.
What is the cheapest broker for F&O trading in 2026? Paytm Money offers flat Rs 15 per executed order on F&O, slightly under Zerodha and Upstox at Rs 20. For volume traders, 5paisa’s paid plan brings it down to Rs 10. Pick on execution quality, not just fee, for active F&O.
Can I have multiple demat accounts? Yes. SEBI allows multiple demat accounts under your PAN. Each account incurs its own AMC and may have different pricing. Many active investors keep two: one for delivery and one for trading.
