Zerodha vs Groww: Features, Coverage and Pricing Compared (2026)
Updated November 10, 2026 · Reviewed by Benjamin Margolis
Zerodha and Groww are two of India's largest retail brokers. Zerodha is bootstrapped, with more than 18 million clients and free equity delivery. Groww is publicly traded, with 16.9 million active users and a simple app.
Our analysts compared the two on November 10, 2026, using each company's own product, pricing, and company pages and our full reviews of Zerodha and Groww.
Choose Zerodha if
- you trade often
- you want free delivery trades
- you want advanced tools
Choose Groww if
- you are a first-time investor
- you want a simple app
- you want IPOs in the same app
Zerodha scores 82 and Groww scores 80 in our ratings. Zerodha suits active traders. Groww suits beginners.
Key Features Compared
Zerodha vs Groww at a Glance, November 2026
| Feature |  Zerodha | Groww |
|---|---|---|
| Ratings | ||
| Fintech Index score | 82 / 100Higher score | 80 / 100 |
| Overview | ||
| What it is | Bengaluru stockbroker that offers free equity delivery trades, flat-fee intraday and options trades, and direct mutual funds to Indian investors | Bengaluru investing platform that lets Indian investors buy stocks, mutual funds, ETFs, IPOs, and futures and options through one app |
| Who it suits | Indian retail investors and traders; more than 18 million clients | Indian retail investors; 16.9 million active users |
| Main products | Stocks, futures and options, currency, commodities, and direct mutual funds through Coin | Direct mutual funds, stocks, ETFs, IPOs, and futures and options |
| Where it operates | India | India |
| Products and features | ||
| Cost to trade | Free delivery trades | ~$0.21 or 0.1% |
| Pricing | ||
| How pricing works | Free equity delivery; ~$0.21 or less per intraday or options order | Free account; equity trades ~$0.21 or 0.1%, whichever is lower |
| Published prices | Fees posted | Fees posted |
| Technology and compliance | ||
| Regulation and protection | SEBI-registered broker | Publicly traded on the NSE and BSE; reports to SEBI each quarter |
| App and platform | Trading platforms and Coin | Clean app |
| Integrations and partners | Rainmatter fintech investments | Direct mutual funds |
| Onboarding and support | Free individual account; non-resident account ~$5.27 | Free to open and maintain an account; exchange fees, stamp duty, and taxes on top |
| Company | ||
| Founded | 2010 | 2016 |
| Headquarters | Bengaluru, India | Bengaluru, India |
| Ownership | Private company | Public company (NSE and BSE) |
| Funding | Bootstrapped with no outside investors; owned by the Kamath family, with ~$932M of revenue in the year to March 2025 | Publicly traded on the NSE and BSE, reporting results in quarterly shareholder letters; earlier funded by venture investors |
| Key leader | Nithin Kamath | Lalit Keshre |
| Scale | ~$932M of revenue and $446M of profit in the year to March 2025 | Revenue of $158.1M in the June 2026 quarter, up 66% |
Fintech Index Scores Compared
We rate every company on eight criteria from 0 to 100, four tied to what buyers in its sector need and four shared by every company, and the rating is their average. Zerodha scores 82 and Groww scores 80.
Criterion Scores Out of 100
Key Differences Between Zerodha and Groww
Fees
Zerodha charges nothing for equity delivery and ~$0.21 or less per intraday or options order. Groww charges ~$0.21 or 0.1% per equity trade.
Company
Zerodha is private and bootstrapped. Groww trades on the NSE and BSE.
Results
Zerodha earned ~$932M of revenue in the year to March 2025. Groww earned $158.1M in the June 2026 quarter.
Pros and Cons
Zerodha
Pros
- Free delivery trades
- Commission-free direct funds
- Over 15% of retail volume
- Profitable without outside capital
Cons
- No advice
- India residents and NRIs only
- Busy for beginners
Groww
Pros
- Free account
- Commission-free direct funds
- Simple app
- Profitable and growing
Cons
- Light advanced trading tools
- India residents only
- No advice
Who Each Is Best For
Zerodha
An Indian investor or trader who wants free equity delivery, flat fees on intraday and options orders, and commission-free direct mutual funds.
Groww
An Indian retail investor who wants a free account and one app for direct mutual funds, stocks, ETFs, and IPOs.
Alternatives to Zerodha and Groww
These companies, all reviewed and rated on The Fintech Index, cover some of the same ground as Zerodha and Groww.
Other Card Issuing and Processing Companies
| Company | Score | Best for | Comparisons |
|---|---|---|---|
| smallcase | 79 | Indian investors who want ready-made baskets | smallcase vs Groww |
Frequently Asked Questions
Which is cheaper for long-term buying?
Zerodha, with free delivery trades.
Do both offer direct mutual funds?
Yes, Zerodha through Coin.
Can non-residents use them?
Zerodha serves NRIs; Groww serves Indian residents only.
Sources
- The Fintech Index analysis of Zerodha and Groww, conducted November 2026 (As of November 10, 2026)
- Zerodha home page: https://zerodha.com/ (As of November 10, 2026)
- Zerodha, about: https://zerodha.com/about/ (As of November 10, 2026)
- Zerodha, charges: https://zerodha.com/charges (As of November 10, 2026)
- Wikipedia, Zerodha: https://en.wikipedia.org/wiki/Zerodha (As of November 10, 2026)
- Groww home page: https://groww.in/ (As of November 10, 2026)
- Groww, pricing: https://groww.in/pricing (As of November 10, 2026)
- Groww, shareholder letter, July 15, 2026: https://resources.groww.in/web-assets/media-library/2026/7/Shareholders%E2%80%99%20Letter%20dated%20July%2015%2C%202026.pdf (As of November 10, 2026)
- Groww, Q1 FY27 earnings pack: https://resources.groww.in/web-assets/media-library/2026/7/Q1%20FY27%20AI%20Earnings%20Pack.md (As of November 10, 2026)
- Groww, founders: https://groww.in/blog/about-groww-founders-journey-investors-and-more (As of November 10, 2026)