Broker comparison
Pick two brokers. The table reloads from our database, so it works without JavaScript.
| Attribute | mStock | Upstox |
|---|---|---|
| Brokerage | ₹20 / Intraday & F&O order | ₹20 / Intraday & F&O order |
| Type | Discount broker | Discount broker |
| Account opening | Free (₹0) | Free (₹0) |
| AMC | ₹0 first year, then ₹300/yr | ₹0 |
| Equity delivery | ₹0 | ₹0 |
| Intraday / F&O | ₹20 per order | ₹20 per order |
| DP charges | ₹12 + GST | ₹18.5 per scrip |
| SEBI registration | INZ000163138 | INZ000185137 |
| Charges last verified | 20 Oct 2026 | 20 Oct 2026 |
| Our rating | Rating 4.2 | Rating 4.5 |
| Best for | Mirae ecosystem users who want research with discount pricing | Chartists and algo traders wanting a low-cost API |
| Hidden charges to watch | Promotional zero-brokerage periods lapse — check current tariff | DP charges per scrip on sale; call & trade ₹25 per order; API fees beyond the free tier |
| Segments | Equity, F&O, Mutual funds | Equity, F&O, Commodity, Currency, Mutual funds |
| F&O (all segments) | ₹20 per order | ₹20 per order |
| Highlights | mStock app, Mirae research access, MF & equity in one login | Upstox Pro web, Coins & MF, Option chain analytics, Open API |
| Open account | mStock | Upstox |
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