Zerodha vs Groww for US stocks: which is better? (2026)
Zerodha: 0.1% max $10 + GST, ~2,000 stocks. Groww: 0.1% or $1 min, no cap, 10,000+ stocks. Both GIFT City IFSC. Real cost comparison for Indian investors.
Arnav GroverCo-Founder & Chief Product Officer, RoviaZerodha and Groww both launched US stock investing in September–October 2026 with nearly identical brokerage rates (0.1%), both using the GIFT City IFSC route. The comparison is close — but several real differences exist depending on what you care about.
Quick answer
| You are... | Recommendation |
|---|---|
| An investor wanting the broadest stock universe (10,000+ names) | Groww |
| An investor making large trades ($10,000+) wanting capped brokerage | Zerodha ($10 cap vs Groww's uncapped 0.1%) |
| An investor wanting predictable/transparent FX markup | Zerodha |
| A Zerodha user | Zerodha (same app, no friction) |
| A Groww user | Groww (same app, no friction) |
| An RSU holder | Neither — use Rovia |
Fee comparison
| Fee | Zerodha | Groww |
|---|---|---|
| Account opening | ₹0 | ₹0 |
| Annual fee | ₹0 | ₹0 |
| Brokerage rate | 0.1% | 0.1% |
| Brokerage minimum | $0.01 | $1.00 |
| Brokerage cap | $10 + 18% GST | No cap (0.1% uncapped) |
| FX markup | ≈0.5% (stated) | 0.5–3.5% (dynamic) |
| Withdrawal fee | TBC | ₹0 |
| Route | GIFT City IFSC | GIFT City IFSC |
| Stock universe | ~2,000 stocks + 1,000 ETFs | 10,000+ stocks + ETFs |
Brokerage comparison
| Trade size | Zerodha | Groww | Difference |
|---|---|---|---|
| $100 | $0.10 + GST | $1.00 (min) | Zerodha cheaper |
| $500 | $0.50 + GST | $1.00 (min) | Zerodha cheaper |
| $1,000 | $1.00 + GST | $1.00 | Similar (Groww no GST) |
| $5,000 | $5.00 + GST | $5.00 | Similar (Groww no GST) |
| $10,000 | $10.00 + $1.80 = $11.80 | $10.00 | Groww cheaper |
| $20,000 | $11.80 (capped) | $20.00 | Zerodha cheaper |
| $50,000 | $11.80 (capped) | $50.00 | Zerodha cheaper |
Key insight: For trades above $10,000 (≈₹8.5L), Zerodha's $10 cap makes it significantly cheaper — you pay $11.80 on any trade above $10,000, while Groww continues charging 0.1% with no ceiling. At $50,000, Zerodha costs $11.80; Groww costs $50.00.
For trades between $1,000 and $10,000, the difference is mainly the 18% GST on Zerodha's brokerage — roughly 0.018% extra. At $5,000, Zerodha charges $5.90 vs Groww's $5.00 — Groww is marginally cheaper in this range.
FX markup
Zerodha's ~0.5% stated markup is more predictable. Groww's 0.5–3.5% dynamic range means your actual cost can vary 7x depending on when you transfer. For large transfers, always check the in-app rate.
At Groww's best rate (0.5%), both platforms are identical on FX. At Groww's worst rate (3.5%), Groww costs 7× more on FX than Zerodha.
Stock universe: Groww wins clearly
Groww's 10,000+ US stocks and ETFs is approximately 5× Zerodha's ~2,000 at launch. For investors who want:
- US mid-caps and small-caps
- Sector-specific ETFs (biotech, semiconductors, clean energy, real estate)
- Thematic and niche ETFs
- International ADRs listed in the US
Groww's breadth is the clear winner. Zerodha covers the major Mag-7 names, S&P 500 heavyweights, and most popular ETFs — sufficient for many investors, but not all.
Decision
Choose Zerodha if:
- You are a Zerodha user already (same app)
- Your typical trade size is above $10,000 — Zerodha's $10 brokerage cap is a real advantage
- You want predictable FX markup (stated ~0.5% vs Groww's dynamic range)
- Your stock picks are within the top 2,000 US names
Choose Groww if:
- You are a Groww user already (same app)
- You need stocks outside the major large-caps (Groww's 10,000 universe)
- Your trades are $1,000–$10,000 where Groww's no-GST 0.1% is marginally cheaper
- Stock universe breadth matters more than brokerage cap
Related reading
- Zerodha US stocks: full charges guide
- Groww US stocks: full charges guide
- Best US stock platform for Indians 2026
Vested.blog is the editorial publication of Rovia.
Frequently asked questions
- Is Zerodha or Groww better for US stocks? ▾
- For most Indian investors with typical trade sizes of ₹85,000–₹8.5L per trade (≈$1,000–$10,000): both charge 0.1% brokerage. Zerodha caps at $10 per trade (better above $10,000), while Groww's $1 minimum is the same as Zerodha's 0.1% floor at $1,000. Zerodha wins on brokerage above $10,000 per trade. Groww wins on stock universe (10,000+ vs Zerodha's ~2,000). Both are GIFT City IFSC.
- Does Zerodha or Groww have more US stocks? ▾
- Groww has significantly more: 10,000+ US stocks and ETFs vs Zerodha's approximately 2,000 at launch. If you need stocks outside the major S&P 500 names or a wide ETF selection, Groww's universe is broader.
- Which has better FX rates — Zerodha or Groww? ▾
- Zerodha's ~0.5% FX markup is more transparently stated and likely more predictable than Groww's 0.5–3.5% dynamic range. At Groww's low end both are similar; at Groww's high end Zerodha is significantly cheaper. Zerodha is the safer choice if you want consistent FX markup.
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About the author
Co-Founder & Chief Product Officer, Rovia
IIT Bombay + IIM Calcutta. Founding PM at Aspora (largest NRI fintech). 6+ years covering Indian-resident US investing, LRS compliance, Schedule FA, and ITR-2 filing for AY 2026-27.
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