📌 India · en-IN · Nifty 50 · 2026-08-24

Alternatives To Zerodha In 2026

Renan Filho · Founder & Tech Builder

Quick answer: Zerodha still leads Indian broking, but 2026 brings serious challengers. From Groww's SIP simplicity to Dhan's advanced tools, these alternatives offer lower fees, better features, or niche strengths. Your choice depends on your trading style, investment goals, and tax planning under the new LTCG rules.

Key data for India (2026-08-24)

Why Look Beyond Zerodha in 2026?

Zerodha's flat ₹20 per trade is no longer the cheapest. The Union Budget 2026 tweaked LTCG tax on equity to 12.5% above ₹1.25 lakh, pushing investors to think about net returns. Many brokers now offer zero brokerage on delivery trades, which suits SIP investors. Also, the RBI's 5.50% repo rate means fixed deposits are less attractive, pushing more money into mutual funds. If you trade options heavily, Zerodha's platform can feel cluttered. Newer apps like Dhan and Upstox offer cleaner interfaces and faster execution. For long-term investors, Groww's mutual fund section is simpler. You must compare the full cost, not just brokerage. Account opening charges, AMC fees, and hidden STT costs matter. SEBI (Securities and Exchange Board of India) mandates transparent pricing, but not all brokers follow it equally.

Groww: The SIP and Mutual Fund King

Groww built its name on making mutual fund investments simple. A ₹10,000/month SIP with 12% CAGR grows to ~₹24.6 lakh in 10 years. Groww shows this projection clearly before you invest. Its stockbroking arm offers zero brokerage on delivery trades, which beats Zerodha's ₹20 per trade. The app is easy for beginners. But advanced chartists will find it lacking. There are no advanced options strategies or in-depth technical indicators. Groww's customer support has improved, but still lags Zerodha's response time. For someone starting with ELSS for Section 80C deductions, Groww is the best. It also supports NPS and PPF investments. The downside is that its trading platform can crash during high-volume days, like the Nifty 50 hitting new highs. If you are a serious intraday trader, this is a risk.

Dhan and Upstox: For Active Traders

Dhan has become the favorite for active traders in 2026. It offers advanced charting, options analytics, and a clean interface. The brokerage is ₹15 per trade, cheaper than Zerodha. Dhan's API is also popular among algo traders. Upstox, backed by Ratan Tata, is another strong contender. It offers zero brokerage on delivery and a flat ₹20 for intraday. Upstox has better stability than Dhan, but its options chain is less intuitive. Both platforms support SIPs in mutual funds, but their focus is clearly on trading. If you are a trader who uses technical analysis, Dhan's tools are superior. Upstox is better for someone who wants a balance between investing and trading. Neither offers PPF or NPS directly, so you'll need separate apps for those. For tax-saving under ELSS, you are better off using Groww or Kuvera.

Angel One and Kotak Neo: Full-Service with Advisory

Angel One provides research calls and advisory, which discount brokers don't. If you want hand-holding, this is worth the extra cost. Angel One charges ₹20 per trade, but you get stock recommendations. Kotak Neo, from Kotak Securities, offers a premium experience. It integrates with your bank account and offers better margin funding. Both are SEBI-registered and have strong research teams. The downside is the higher brokerage for futures and options. For a long-term investor who wants to avoid the complexity of self-research, these are good options. However, their apps are not as fast as Dhan or Upstox. They are also more expensive for high-frequency traders. If you trade less than 10 times a month, the advisory may not justify the cost. Compare the annual maintenance charges (AMC) before switching.

The Hidden Costs You Must Check

Brokerage is just one part. Many brokers charge for account opening, AMC, and even for using their trading software. Zerodha charges ₹300 as AMC per year, which is reasonable. Groww has zero AMC, a clear win. Dhan also charges zero AMC, but its margin funding rates are higher. Upstox charges ₹0 AMC for the first year, then ₹300. Angel One charges ₹240 per year. Kotak Neo is the most expensive, with AMC up to ₹600. Also check the STT (Securities Transaction Tax) which is 0.1% on delivery sales. This applies to all brokers equally. The real differentiator is the interest rate on margin funding. During a volatile market, these rates can eat into your profits. Always read the fine print on the SEBI website before opening an account.

Practical example in India

₹10,000/month SIP with 12% CAGR grows to ~₹24.6 lakh in 10 years

Risks and cautions

Volatilidade do mercado, mudanças na política monetária de Reserve Bank of India (RBI) e fatores geopolíticos globais são os principais pontos de atenção para investidores em India.

Frequently asked questions

Is Zerodha still the cheapest broker in India?

No. Groww and Upstox offer zero brokerage on delivery trades, making them cheaper for long-term investors.

Which broker is best for SIPs in mutual funds?

Groww is the best for SIPs because of its simple interface and clear projection of returns like the ₹10,000/month example.

Are these alternatives safe under SEBI regulations?

Yes, all mentioned brokers are registered with SEBI and your funds are held in demat accounts with depositories.

Can I use these brokers for ELSS tax-saving investments?

Groww and Upstox allow ELSS investments. Dhan and Kotak Neo are more focused on trading, so check their mutual fund sections.

What is the impact of LTCG tax on my trading?

You pay 12.5% LTCG tax on equity gains above ₹1.25 lakh. This applies to all brokers equally, not just the platform.

Sources and authority

This guide is part of the MoneyApp financial education ecosystem. For tax questions in Brazil, see Agente Tributário.

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