Upstox Review

Upstox account is a 2-in-1 account. It is a combination of a trading and a demat account. The trading account gives you access to stock exchanges like NSE, BSE and MCX etc. And the demat account is used to hold securities like stocks, mutual funds etc.

The upstox account allows investors to trade in stocks, equity derivatives, currency and commodities. It also offers online mutual fund investment in a lump sum or SIP way.

You can open the Upstox account in 2 easy ways:

1.      Upstox Online Account Opening

• Click on to open an account

•  Enter your Email Address and Mobile Number.

•  Fill in your personal details and bank details.

• Review, confirm and submit the application.

2.      Upstox Offline Account Opening

•  Visit Upstox website, Go to 'Support'

• Click 'Download Forms'

• Click 'Demat & Trading Account'

• Print the form

• Fill and sign the form.

• Attach all the required documents.

• Courier the filled form to Upstox registered office. 

Upstox offers brokerage free equity delivery trading. For all other segments, it charges flat Rs. 20 or 0.01% per executed order. Also, customers have to pay government taxes, exchange turnover charges, demat debit transaction fees etc. Click the link to know more about Upstox brokerage charges.

Upstox is a reliable stock broker in India for many reasons including a strong reputation of its investors, decade long experience in broking, tech-first approach, and no major violations reported to date.

Upstox was established in 2011 under the name of ‘RKSV Securities’ in Mumbai. Raghu Kumar, Ravi Kumar, and Srinivas Vishwanath founded it. It has received funding from reputed names like GVK Davix, Kalaari Capital, and Ratan Tata. 

The company is a member of BSE, NSE, and MCX exchanges. It is also registered with SEBI, NSDL, and CDSL.

Upstox monthly maintenance charge of Rs.25 (excluding GST) is applicable only on demat accounts. This will be charged at the end of every month.

Based on the app version, there are two ways to close your Upstox account:

For updated versions

• Login to the Upstox app.

• Click on Picture/Initials on the top left corner of the screen.

• Under the “Account” tab, click on “Profile”.

• Click on the “View All” button next to “Account”.

• Click on the “Three Horizontal Bars” on the top left corner, to open a menu.

• From the menu, select “Account Closure”. Click on the “Close Account” button in the closure segment. This will send you to the confirmation page.

• On the confirmation page, click on the link generated to be redirected to the closure page.

• On the closure page, select your reason for closing the account from the drop-down menu.

• Click on the “Close Account” button. Your account will be closed within 7-8 working days from the submission of the closure request.

Yes, Upstox Demat accounts are safe as all demat accounts are opened with Central Depository Services Limited(CDSL). Upstox acts as only an intermediary between the customer and the central depository.

Upstox has both normal and instant withdrawals. Based on the app version, there are two ways to withdraw money from your Upstox account:

• For updated versions:

1. Normal Withdrawal

1. Click on the name icon in the top left corner of the app to open the wallet section of the app. Here you can choose whether you want to withdraw funds from your Securities or Commodities account.

2. After selecting the account type, enter the amount of withdrawal and click “Continue”.

3. You will now come to a confirmation page. Click on the “Confirm Withdrawal” button to finish the withdrawal request.

2. Instant Withdrawal

1. Place a withdrawal request as mentioned above for updated versions.

2. The request will be processed via IMPS within 15 minutes, subject to certain conditions.

3. You will get an SMS and email confirming the withdrawal.

Note: The conditions necessary for instant withdrawal:

1. IMPS mode should be active on your bank account.

2. Instant withdrawal is possible only on the trading day. It's not possible on trading holidays and weekends.

3. Timings for making Instant withdrawal are from 11:00 AM - 4:00 PM. A withdrawal request outside these time frames would be treated as a standard withdrawal request.

4. The total Instant Withdrawal amount range allowed is between  ?100 to ?50,000 in a day including both securities and commodities wallet.

5. The total amount that you have utilized, against any open or closed positions which needs to be zero, in order to place an instant withdrawal request.

Upstox offers two types of accounts:

• Securities account: This account allows you to trade in equities, F&O (futures and options), and currencies on the NSE and BSE.
• Commodities account: This account allows you to trade in commodity futures and options on the MCX.

You can open both of these accounts with Upstox.

In addition to these two types of accounts, Upstox also offers the following:

• Minor demat account: This account is for minors below the age of 18. The account must be opened in the name of the minor's guardian.
• NRI demat account: This account is for non-resident Indians (NRIs). NRIs can use this account to invest in the Indian stock market.
• Corporate demat account: This account is for companies and other business entities.

Upstox also offers a variety of other features and benefits, such as:

• Zero brokerage on equity delivery trades: Upstox does not charge any brokerage on equity delivery trades. This means that you can buy and sell shares without paying any brokerage fees.
• Low brokerage on F&O and commodity trades: Upstox charges low brokerage on F&O and commodity trades. This makes it a good option for traders who trade in these segments frequently.
• Advanced trading platform: Upstox offers an advanced trading platform with a variety of features, such as real-time market data, charts, and technical indicators.
• Research and analysis tools: Upstox provides research and analysis tools to help you make informed investment decisions. These tools include research reports, stock recommendations, and screeners.

Overall, Upstox is a good option for investors of all levels, as it offers a variety of features and benefits, including low brokerage charges, an advanced trading platform, and research and analysis tools.

Upstox's Margin Trading Facility (MTF) allows you to buy stocks with just 50% of your own funds and borrow the remaining 50% from Upstox. This can help you to increase your trading capacity and take advantage of investment opportunities that would otherwise be out of reach.

To avail of MTF on Upstox, you must:

1. Have a trading account with Upstox.
2. Be an Indian resident.
3. Be at least 18 years of age.
4. Meet the minimum margin requirement.

The minimum margin requirement for MTF on Upstox is:

• VAR + 3 times of ELM in case of F&O stocks.
• VAR + 5 times of ELM in case of non-F&O stocks.

VAR stands for Value at Risk and is a measure of the potential loss that a trader could incur on a particular trade.

There are several ways to transfer funds into your Upstox trading account:

Net Banking

1. Log in to the Upstox app or website.
2. Click on the Account tab.
3. Click on Add funds.
4. Select Net Banking from the list of payment methods.
5. Select your bank from the list of supported banks.
6. Enter the amount you want to transfer and click on Continue.
7. You will be redirected to your bank's website to complete the transaction.

UPI transfer

1. Log in to the Upstox app or website.
2. Click on the Account tab.
3. Click on Add funds.
4. Select UPI transfer from the list of payment methods.
5. Enter your UPI ID and the amount you want to transfer.
6. Click on Continue.
7. You will be redirected to your UPI app to complete the transaction.

Google Pay (GPay)

1. Log in to the Upstox app or website.
2. Click on the Account tab.
3. Click on Add funds.
4. Select Google Pay (GPay) from the list of payment methods.
5. Enter the amount you want to transfer and click on Continue.
6. You will be redirected to the Google Pay app to complete the transaction.

Upstox charges a flat brokerage fee of Rs. 20 per trade for equity delivery, intraday, and F&O trades. 

This can be considered high by some, especially for smaller trades. However, it's important to consider the following:  

• No hidden charges: Upstox has a transparent pricing model with no hidden fees.  
• User-friendly platform: Upstox offers a simple and intuitive trading platform.  
• Free demat account: You don't have to pay any annual maintenance charges for your demat account.

Ultimately, whether Upstox charges are high or not depends on your individual trading needs and preferences. If you're a frequent trader with larger trade sizes, the flat brokerage fee might be more cost-effective compared to percentage-based brokerage charges offered by other brokers. However, if you're a small-time investor with infrequent trades, the flat fee might seem high.

It's important to compare the overall costs, including brokerage, transaction charges, and other fees, when choosing a broker.

Upstox charges a flat brokerage fee of Rs. 20 per trade for equity delivery trades. This means that regardless of the size of your trade, you'll pay a maximum of Rs. 20 per executed order. 

Upstox offers a flat brokerage plan of Rs 20 per order, regardless of the trade size or type. This simple and transparent pricing structure makes it easy for traders to calculate their costs.

No, Upstox has a transparent fee structure with no hidden charges. You only pay the flat brokerage of Rs 20 per order, along with applicable taxes and other statutory charges.

No, the flat brokerage of Rs 20 per order applies to all trading segments, including options trading. There are no additional charges for options trading, such as brokerage on option buying or selling.

While Upstox doesn't offer traditional discount brokerage plans, its flat brokerage model is already quite competitive. However, you can explore various offers and promotions that Upstox may provide from time to time to further reduce your trading costs.

Upstox offers a flat-fee brokerage plan, which means you pay a fixed amount per trade, regardless of the trade value. This makes it easy to budget your trading costs.

The Upstox brokerage fee is Rs. 20 per executed order for most trades, including equity delivery, equity intraday, equity futures, currency futures, and commodity futures. For equity options, currency options, and commodity options, the fee is also Rs. 20 per order.

No, Upstox has a transparent pricing model with no hidden charges. You can easily calculate your trading costs using the Upstox brokerage calculator.

No, Upstox currently offers only one brokerage plan. However, you can review the details of the plan and its associated charges on the Upstox website or app.