Welcome to our comprehensive Upstox review, where we delve into one of India’s leading discount brokerage platforms. Upstox has emerged as a prominent player in the financial landscape, offering a wide range of trading and investment services to individuals across the country.
With its user-friendly interface, competitive pricing, and advanced trading tools, Upstox has garnered a reputation for empowering traders and investors of all levels, from beginners to experienced professionals
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What is Upstox ?
Upstox is an Indian discount brokerage firm that offers online trading services in stocks, derivatives, commodities, and currencies. It was founded in 2011 by Ravi Kumar and Kavitha Subramanian and is based in Mumbai, India.
Upstox is known for its low brokerage fees and user-friendly trading platforms, which are available on desktop and mobile devices. The company is regulated by the Securities and Exchange Board of India (SEBI) and is a member of various stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
In 2016, Upstox raised $4 million in a funding round led by Ratan Tata, the former chairman of Tata Sons. The company used the funding to expand its operations and enhance its technology infrastructure. In 2019, Upstox launched Upstox MF, a platform for investing in mutual funds, and Upstox Option Chain, a tool for trading options.
The company also introduced a new version of its trading platform, Upstox Pro Web, with advanced charting and trading features. In 2021, Upstox announced that it had raised $25 million in a funding round led by Tiger Global Management.
Today, Upstox is one of the best online brokerage firms in India, with over 2 million customers and a daily turnover of more than $1 billion.
Upstox Products:
- Pro Web,
- Pro Mobile,
- Mutual Funds,
- IPOs,
- Futures And Options,
- Stocks,
- Indices,
- Developer,
- Upstox x TradingView
Upstox Services:
- Demat Account,
- Trading Account,
- Commodity Trading,
- Equity Trading,
- customer care
Upstox Education:
Uplearn, a free investment and trading learning platform.
Upstox’s pricing:
| Upstox charges | Equity delivery | Equity Intraday | Equity Futures | Equity Options |
| Brokerage | ₹20 or 2.5% whichever is lower on Equity Delivery | ₹20 per executed order or 0.05% (whichever is lower) | ₹20 per executed order or 0.05% (whichever is lower) | Flat ₹20 per executed order |
| STT/CTT (Upto 31st March 2023) | 0.1% on buy & sell | 0.025% on the sell side | 0.01% on sell side | 0.05% on sell side (on premium) |
| GST | 18% (on brokerage + transaction + demat charges) | 18% (on brokerage + transaction charges) | 18% (on brokerage + transaction charges) | 18% (on brokerage + transaction charges) |
| Transaction charges (From 1st April 2023) | NS E0.00325% per trade on buy & sell. BSE | NSE: 0.00325% per trade on buy & sell. BSE charges vary as per the scrip group | NSE Exchange turnover charge: 0.0019% | NSE Exchange turnover charge: 0.050% (on premium) |
| DP Charges | ₹18.5 per scrip per day only on sell | No charges | No charges | No charges |
| SEBI Charges | ₹10/crore | ₹10/crore | ₹10/crore | ₹10/crore |
| Margin Against Demat Holdings (can be used for Futures buy and sell and Options Sell orders only | ₹50 + GST per scrip for pledging ₹50 + GST per scrip for unpledging |
| Auto Square-off | ₹50 + 18% GST |
| Call & Trade | ₹50 + 18% GST |
| P&L/ CMR Physical copy | ₹20 per page |
| Annual Maintenance Charges | ₹150 + 18% GST |
| Quarterly Maintenance Charges | ₹75+ 18% GST |
| Off-market (to transfer shares between brokers) | 1. Buy orders will continue to be charged at ₹100 or 1.5% of the transaction amount (whichever is lower) 2. ‘Invest More’ orders will be charged at ₹100 or 1.5% of the transaction amount (whichever is lower). 3. SIP order charges at ₹10 or 1.5% |
| Netbanking charges (Razorpay / Atom) | ₹7 (GST included) |
| Buyback/Takeover/Delisting Charges | ₹20 + GST |
| Offer For Sale | ₹20 + GST |
| Referral Agent Registration Fee | ₹499 (GST included) |
| Webinars and Workshops | Starting at ₹49 + 18% GST |
| API Subscription Charges | ₹499 (GST included) |
- Online account opening is free of charge.
- For all segments, including delivery, intraday, and F&O, a flat brokerage fee of Rs. 20 per trade is charged.
- There are no software usage charges.
- The platform also offers advanced order types such as AMO, CO, SL, and GTT.
- The Margin Trading Facility (MTF) is available at an interest rate of Rs. 20 per day for slabs of Rs. 40,000, and Margin Against Shares can be availed.
- A user-friendly platform that is designed to be accessible to both beginner and experienced traders.
- Upstox also offers a variety of educational resources and tools to help traders learn more about the markets and improve their trading strategies. These resources include videos, articles, and webinars that cover topics such as technical analysis, options trading, and market news and trends.
- As a low-cost broker, Upstox does not charge brokerage as a percentage of turnover, unlike most brokers in India. This means you do not have to pay brokerage on your trades with Upstox, resulting in significant savings.
- Seamless account opening procedure. Upstox conducts the mandatory Know Your Customer (KYC) norms and In-person Verification (IPV) process over the web, making the account opening process quick and seamless.
- Upstox is a technology-based firm that leverages technology to provide superior trading tools. Its brokerage calculator, SPAN calculator, and options builder tool are some examples of the tools it offers to help traders make better and wiser trading decisions.
- Upstox also boasts of having one of the best customer service teams in India. Its team strives to answer all calls within 30 seconds to minimize hold times, and its online ticketing system ensures that queries are answered promptly.
- Upstox provides a hassle-free and speedy onboarding experience, enabling you to create a Demat account using only your PAN, Aadhaar, and eKYC. This convenient process grants you access to our web, Android, or iOS platforms, where you can log in using your biometrics or mobile number and execute stock trades with just one click.
- With a simple toggle switch, you can effortlessly switch between intraday or delivery orders. Furthermore, Upstox offers GTT and AMO on Stocks and F&O orders, making your orders seamless and efficient.
- With smart lists and filters, you can search for stocks easily and get the latest news, analyze charts, and find in-depth company information to make informed decisions.
- While many other brokers provide deliveries without brokerage fees, Upstox charges Rs. 20 per trade for stock deliveries.
- No unlimited monthly trading plans.
- Margin funding is not accessible for delivery trades on Upstox.
- Upstox does not provide any stock tips or recommendations.
- Upstox does not have a 3-in-1 account option.
- Upstox’s customer support is not available 24/7.
- API access for automated trading is not supported on Upstox.NRI Trading and Demat account are not offered by Upstox.
- Call-and-trade orders attract a fee of Rs. 20 per executed order.
- Automatic settlement incurs an additional charge of Rs. 20 per executed order.
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In this post we have done Review of Upstox Trading Platform . This review will guide you to take right decision before open a demat account.
FAQs
Que1. Is Upstox safe and reliable?
Ans. Upstox is a SEBI registered broker and is a member of the BSE, NSE, and MCX exchanges. The platform also uses the latest encryption technology to ensure the security of user data and transactions.
Que2. What are the brokerage charges for trading on Upstox?
Ans. Upstox offers a flat fee of Rs. 20 per trade or 0.05% (whichever is lower) for equity delivery trades. For other trades, such as intraday trading or futures and options, the brokerage fee ranges from 0.05% to 0.50%.
Que.3 How can I open an account on Upstox?
Ans. You can open an account on Upstox by visiting their website or mobile app and filling out the necessary details. You will also need to upload some documents, such as your PAN card and Aadhaar card, for verification purposes.
Que 4 What are the types of accounts offered by Upstox?
Ans. Upstox offers two types of accounts – Upstox Basic and Upstox Pro. Upstox Basic is a free account that allows you to trade in stocks, commodities, and currencies at low brokerage fees. Upstox Pro is a paid account that offers advanced trading tools and features for professional traders.
Que 5. Does Upstox offer trading in commodities and currencies?
Ans. Yes, Upstox offers trading in commodities and currencies along with stocks.
Que 6. What is Upstox Pro?