We all are pretty much confused over which app to use for investing and trading in stocks. We are also confused about which broker to choose. So in this article, I am going to discuss with you some important metrics to see while choosing a stockbroker and which is the best in the market. And I am also going to discuss the Upstox and Zerodha stock brokers and what are their advantages and disadvantages.
So please read the article till the end to get some idea about the real truths behind the advertisements.
What are the parameters to consider while choosing the stockbroker
So, if you are new to stock markets and want to choose a stock broker, then please check for the below parameters before considering them.
- See if the stockbrokers are providing good support because as a beginner you will sometimes definitely need the help of forgetting the idea about the platform you are using. You will also have doubts about the number of stocks in your account and the margin balance. So for clarification of such doubts, customer support is a must.
- A good web and mobile interface for monitoring the stocks in your portfolio. For any beginner to analyze the stocks, you need a clear and broader view. So if that stockbroker is providing a web interface, you can monitor your stocks directly on a PC or laptop without the need of an external provider.
- It is an important parameter to consider to check what your broker charges while executing a trade. If you are investing less, then this will not matter. But if you are investing in lakhs or crores, then your brokerage fees will have a huge impact on your earnings. Apart from the brokerage, you also need to consider other fees, which will be discussed in the other section below.
- Last but not least, as a beginner you have to choose a broker which has good tutorials about it on the web. Because as a beginner you will have many doubts at the beginning. So just take the broker which has a lot of tutorials about it on youtube and Google mainly.
These are the points I would see before considering a broker. So if you still have any points, to ad, then just comment them. I will add.
Advantages of using Zerodha
- Zerodha’s interface is awesome and they provide both web and Kite mobile app for monitoring the stocks and your portfolio.
- Tutorials about Zerodha are also a lot on Google and also youtube which helps the beginner a lot.
- Customer support is also great for Zerodha. You can take calls directly with Zerodha customer support.
- The last but very important point to consider is the brokerage fees they charge are very less. The DP charges are also less, which is less than any other broker in the market. You can see more details about the Zerodha DP charges on this website.
Advantages of using Upstox
Only advantage of using Upstox is that they provide you with a free dmat and trading accoount at free of cost at the beginning.
Disadvantages of using Zerodha
Only disadvantage of using zerodha is their initial free for getting an account in zerodha. But it is a one time payment for one year which I think is not a pretty big deal for the services they are providing.
But if you want to get a discount on the initial fee for opening a Zerodha account, then you can use this given link and get 200 Rs off.
Disadvantages of using Upstox
As i have mentioned earlier, you need to have a good mobile and web interface for the trading account for analysing the stocks and placing the trade directly from the charts section. Upstox does not provide a web platorm.
The other is that the DP charges are also more in Upstox when compared to Zerodha. So please refer to this website for more details about the DP charges.
So, these are my observations from the usage of these apps for more than 2 years. So if you have any tips, then please feel free to comment. If you like this, then please share it with your friends and also make an account in Zerodha at a discounted rate.
What to choose, zerodha vs Upstox?
You can choose which ever broker you want to choose. The main differences are given above. So now its you choice.
Investment in the stock market is subject to risk. We are not responsible for any losses that you get. So please think wisely before investing.
This post was last modified on June 25, 2021 9:11 pm