Upstox and Zerodha both charge ₹20 per executed options order. For options traders, the real differences are API pricing, futures brokerage, trading tools and how you test and run your strategies.
Many active traders don’t pick just one. They keep both accounts and use each where it fits best.
Choosing between Upstox and Zerodha? Test your strategy first, on either broker. Get 100 free backtests every month
Upstox vs Zerodha: Quick Comparison for Options Traders
This table covers standard resident individual accounts. Upstox figures are for its Basic plan.
Taxes and exchange charges are extra and apply equally with both brokers.
New to backtesting? Read - A Step-by-Step Guide to Backtesting Trading Strategies
What an Options Strategy Really Costs
Since both brokers charge ₹20 per options order, your brokerage depends on how many orders your strategy places, not on which broker you pick.
Brokerage only. These figures exclude STT, exchange charges, GST, stamp duty and slippage.
Every entry, exit and adjustment is a separate order. A strategy that adjusts often can cost several times more than its first entry suggests.
Statutory costs also went up this year. From 1 April 2026, STT on options is 0.15% of the premium on the sell side, and on futures it is 0.05% on the sell side.
Upstox Plus is priced differently, with brokerage of up to ₹30 per order. Special rates on some orders placed in Upstox’s own apps may not apply to orders placed through third-party platforms.
Using Upstox? Run 920 strategies and portfolios on AlgoTest without execution credits. Connect Upstox on AlgoTest
Read more:Groww vs Zerodha
Options Tools: Upstox Pro vs Zerodha Kite
Both brokers give you the basics: option chains, charts and multi-leg order entry. The differences are in where the extra tools live.
Upstox:
Upstox Pro includes charts, an option chain, payoff graphs and options data such as Greeks, open interest and PCR.
Algoverse lets you build no-code strategies, backtest them, paper trade and deploy them, with 80+ indicators.
You can also trigger algos from TradingView alerts.
Zerodha:
Kite handles trading and charts, and Console handles P&L and tax reports.
Many advanced options and strategy tools come from partner platforms built on Kite Connect, such as Sensibull and Streak.
Partner tools may have their own pricing, separate from Zerodha.
Feature access can depend on the app and plan you use, so check the latest version before you decide.
Upstox vs Zerodha API for Algo Trading
If you automate your trading, API access matters as much as brokerage.
Upstox lists its trading API as free, and it includes market data.
Zerodha’s Kite Connect Personal plan is free for orders, GTT, alerts and portfolio management, but it has no live or historical data. The Connect plan adds data for ₹500 per app per month.
On no-code platforms like AlgoTest, you don’t need to build your own data feed. The platform runs the strategy logic and sends orders to your connected broker.
API speed also matters for options orders. You can compare live order latency across Indian brokers on AlgoTest’s Broker Speedtest.
Read more:List of Brokers with an API in India
How to Test a Strategy Before Trading with Upstox or Zerodha
Brokerage is easy to compare. Whether your strategy holds up is harder to know, and it matters more.
Before you go live with either broker, ask yourself four questions:
Would these rules have worked in past markets, including bad weeks and not just good ones?
How many orders does the strategy place, and what do brokerage, taxes and slippage add up to?
What is the worst drawdown, and could you sit through it without changing the rules?
Can you follow the rules in live markets, where fills and timing are less predictable?
Backtesting answers the first three on historical data. Paper trading helps with the fourth before you risk capital.
You can backtest options strategies on AlgoTest with an account at either broker. Testing is separate from live execution, so your broker choice doesn’t limit what you can test.
Read more:Does Upstox Support Backtesting?
How to Use Upstox and Zerodha Together
Many options traders keep accounts with both brokers. Common reasons include:
A second account lets you keep trading if one broker has an outage on a busy day.
You can run different strategies on different accounts and track them separately.
You can use Zerodha for MCX strategies, since AlgoTest currently runs MCX execution only through Zerodha.
You can run time-based strategies through Upstox, where AlgoTest execution is free.
How to set it up on AlgoTest:
Open Broker Setup and connect both your Upstox and Zerodha accounts.
Pick which broker each strategy runs on when you deploy it.
Monitor positions for both accounts from one place.
If you need more than one API connection with the same broker, Multi API supports both Upstox and Kite Connect. Your first connection per broker is free, and each extra one costs 500 credits per month.
What it doesn’t do: Using two brokers doesn’t switch your orders automatically if one broker fails, and it doesn’t move open positions between accounts. Margin is also separate, so each account needs enough funds for its own strategies.
Read more:Best Brokers for Algo Trading in India
If You Also Invest: Delivery, AMC and DP Charges
If you also hold stocks for the long term, these costs matter:
Zerodha’s free delivery is a clear saving if you invest regularly.
You may pay lower AMC if your account qualifies as a Basic Services Demat Account (BSDA). To qualify, you need a single demat account across all brokers and holdings below ₹10 lakh.
Test Your Strategy Before You Pick a Broker
For options traders, brokerage is the same with both brokers. What differs is how many orders your strategy places and how well it holds up.
Define your strategy’s entry, exit and position risk, then evaluate it across historical and live market conditions before deciding where to run it.
AlgoTest helps you move from an idea to a strategy you can inspect and test before deciding whether to deploy it, with either broker.
Join us as we simplify algo trading in India.
Note for Upstox users: You can run 920 strategies and portfolios through AlgoTest’s AlgoTrade without using execution credits. Brokerage and statutory charges still apply. The offer excludes Forward Testing, Signals-based algo trading, ClickTrade tools and RA Algos.
Related Reading
FAQs
Is Upstox or Zerodha better for options trading?
Both charge ₹20 per options order, so brokerage is the same. The choice depends on the tools you prefer, your futures and intraday volumes, and how you plan to test and automate strategies.
Is Upstox or Zerodha better for option selling?
Brokerage and STT are the same with both. Option sellers should compare margin requirements on their usual positions, order handling for multi-leg trades and API reliability if they automate.
Can I use Upstox and Zerodha together?
Yes. You can hold accounts with both brokers and connect both on AlgoTest, then choose which account each strategy runs on.
Is the Upstox or Zerodha API free?
Upstox lists its trading API as free, including data. Zerodha’s Personal plan is free for orders, but live and historical data need the Connect plan at ₹500 per app per month.
Can I backtest options strategies with Upstox or Zerodha?
Upstox offers backtesting through Algoverse, and Zerodha users can backtest through partner platforms such as Streak. You can also backtest options strategies on AlgoTest with an account at either broker.
Does a good backtest guarantee profits?
No. A backtest shows how your rules performed on past data. Live markets bring slippage and conditions the past may not include, so paper trade first and start small.
Sources and Comparison Method
This article compares published broker charges, product pages and AlgoTest documentation checked on 22 October 2026. The cost examples apply standard rates to the stated number of orders.
Broker pricing:Zerodha charges, Upstox charges and Upstox Plus.
API pricing:Kite API charges.
Tools:Upstox Algoverse and Zerodha products.
Account costs:Zerodha AMC.
Disclosure: AlgoTest provides strategy-testing and execution tools and has commercial partnerships with brokers, including Upstox and Zerodha.