Upstox Review

(3.4)
Discount Broker Depository: CDSL
398

Backed by Tiger Global & Ratan Tata, Upstox is a discount broker that provides free third-party premium subscriptions at the time of account opening. Upstox has an active client base of 28,52,978 as of October 2024.

Product Basket

The segments in which you can invest (includes Equity, Commodity, Currency, Futures and Options) through this broker

Equity
Commodity
Currency
Futures
Options
Brokerage Plans (Single Plan)

1 or more plans offered by this broker, which outlines, Account opening and maintenance fees charged by this broker, Brokerage charges and Margins provided. Use plan switcher to see the difference in offerings, if multiple plans are available.

Charges

Account Opening Charges

₹0

Account Maintenance Charges

₹0

Call & Trade Charges

₹50
Brokerage

Equity Delivery Brokerage

₹20

Equity Intraday Brokerage

0.05%

Equity Futures Brokerage

0.05%

Equity Options Brokerage

₹20

Currency Futures Brokerage

0.05%

Currency Options Brokerage

₹20

Commodity Futures Brokerage

0.05%

Commodity Options Brokerage

₹20
Margins

Equity Delivery Margin

4x

Equity Intraday Margin

5x

Equity Futures Margin

1x

Equity Options Margin

1x

Currency Futures Margin

1x

Currency Options Margin

1x

Commodity Futures Margin

1x

Commodity Options Margin

1x
Trading Platforms Learn More

Set of software & applications offered by the broker for executing buy and sell orders online. These are names of their portals and mobile apps, for full desc- Full Platform Details.

Pro Web Trading Platform Upstox Pro Mobile
Pros

Advantages and Strengths of this broker.

  1. The early morning newsletter of Upstox is well crafted and provides excellent insights and market recap.
  2. Upstox offers delivery transactions at no cost, has flat trading fees and provides margining against shares held.
  3. Availability of knowledge resources, both technicals and basic investing.
  4. Toggle easily between TradingView and ChartsIQ libraries.
Cons

Disadvantages of this broker that it needs to improve upon.

  1. It allows NRIs, HUF, Companies to open a demat account only through an offline process.
  2. Customers have to be careful while selecting a mutual fund as both direct and regular plans are offered.
  3. Extra ₹20 per executed order is charged for Intraday square off orders when they are not squared off by the customer.
Additional Features

Extra features provided by the broker at little or no extra cost. Like research reports, SMS alerts etc.

3 in 1 Account
Free Trading Calls
Free Research Reports
SMS Alerts
Margin Funding
Margin Against Share
Other Investment Options

Services provided by the broker for investing in other financial assets such as Mutual funds, Insurance, Bonds etc.

Mutual Funds
IPO Platform
Bonds & Debt
Exchange Traded Funds
Insurance

Finology Ratings & Reviews for Upstox

Ratings are provided based on customer service, usability, charges and overall average. Reviews are based on positive and negative aspects of the broker that help you understand this broker better.

Charges

(3.7)

Usability

(4)

Customer Service

(2.5)

Charges Review

  • Offers minimal brokerage based on type of plan.
  • Equity delivery is free with investment through Upstox.
  • Their call & trade charges are lower than other brokers.
  • Demat Transaction Charges are higher for the Basic Plan.
  • Advanced trading platform is provided for free which makes it more popular among traders.

Customer Service Review

  • Upstox provides email & call support but not satisfactorily.
  • As per customer reviews, support is provided if you raise a ticket but the response is delayed.
  • No Relationship Manager is provided upon opening of the account

Ease of Use Review

  • The trading platforms are quite advanced and user friendly.
  • They offer numerous third-party platforms (Dartstock, NEST Trader and Fox Trader) for trading.
  • Upstox’s mutual fund investment platform offers both Direct and Regular plans, but the investor needs to be cautious while placing an order.

Account Opening Procedure Review

  • For individual accounts, the online account opening process is quite simple and convenient.
  • The offline procedure is cumbersome and time consuming (even for individual accounts) due to a lesser number of physical branches.

Why Choose Upstox? Know Everything about Upstox here.

Verdict

Upstox has become a prominent player among discount brokers. With no commission, no account maintenance, and a flat brokerage of Rs. 20 for stocks, Currency, commodity, and F&O segments, it enjoys the second-highest number of active clients. Backed by Mr. Ratan Tata, Upstox has become an easy-to-trust brand. It provides its customers with cutting-edge and technologically advanced front ends to make trading decisions and executions. Upstox accounts can be used to invest in IPOs, Mutual Fund, and Bullion (Gold and Silver).

If you are an investor, the broker provides you with

  • Provides free subscriptions to premium educational content,

  • Investors can invest globally through Upstox’s platforms,

  • Mutual Fund investments in direct plans are available,

  • Platforms have a user-friendly interface.

If you are a trader, the broker provides you with

  • A wide array of charting tools, with 100+ charting tools and indicators,

  • Nest trading software platform provides a terminal experience to traders,

  • Dartstock software platform provides live & trend scanners, opportunity finders, recover & fall trackers & many more tools,

  • Leveraging technology that includes brokerage calculator, SPAN calculator, and options builder tool.

Trading Tools

Upstox has various curated trading tools and quality in-class trading platforms to provide a seamless trading experience to all customers. Below mentioned are the brief description of different platforms and tools.

Pro Web Trading Platform

Upstox Pro Web offers a variety of trading features like charting with technical indicators, shortcuts (hotkeys) for faster trading, etc.

Some of its other features include:

  • When using the platform's capabilities, traders might require some assistance, which is demonstrated online on the website,

  • Customers can trade like professional traders by adding more than 100 indicators to their charts,

  • This trading platform enables investors and dealers to observe the market extensively and trade confidently.

Upstox Pro Mobile (Mobile Trading App)

Pro Mobile is a mobile trading application offered by Upstox for Android & iOS users. Some of its features are:

  • It facilitates trading in multiple segments including NSE cash, Futures and Options, and Currencies, along with Technical indicators on real-time charts and price alerts,
  • Redesigned features, including smart lists, smart filters, and daily market updates, help traders to make informed trades.
  • Depending upon the risk profile, investors can utilize professionally developed strategies and achieve the desired result with minimal risk and maximum profit potential.

Charges Details

For Equity

CHARGES

DELIVERY

INTRADAY

FUTURES

OPTIONS

Transaction Charges

0.00322% - NSE

0.00322% - NSE

0.00188% - NSE

0.0495% - NSE
0.0495% - BSE

Demat Transaction Charges 

Sell side, ₹ 18.5 per scrip 

-

-

-

Clearing Charges

-

-

0.0002% - NSE

0.005% - NSE

GST

18% on Brokerage + Transaction + Demat Charges

18% on Brokerage + Transaction

18% on Brokerage + Transaction + Clearing Charges

18% on Brokerage + Transaction + Clearing Charges

STT

0.1% on both buy & sell.

0.025% only on sell. 

    0.02% only on sell        0.1% only on sell

SEBI Charges

₹ 10 per crore

₹ 10 per crore

₹ 10 per crore

₹ 10 per crore

For Commodity

CHARGES

FUTURES

OPTIONS

Transaction Charges

0.0026% for Non Agri

0.05%

Clearing Charges

0.00%

0.00%

GST

18% on Brokerage + Transaction

18% on Brokerage + Transaction

STT

Sell side, 0.01% on Non Agri 

Sell side, 0.05%

SEBI Charges

₹ 10 per crore

₹ 10 per crore

Currency Charges

CHARGES

FUTURES

OPTIONS

Transaction Charges

0.0009% - NSE
0.00022% - BSE

0.035% - NSE
0.001% - BSE

Clearing Charges

0.0004% - NSE
0.0004% - BSE

0.025% - NSE
0.025% - BSE

GST

18% on Brokerage + Transaction

18% on Brokerage + Transaction

STT

-

-

SEBI Charges

₹ 10 per crore

₹ 10 per crore

Upstox Complaints & Stats

Company name:

RKSV Securities Private Limited

Contact:

022-6130-9999

Email:

sales@upstox.com

Active Users:

28,52,978
Upstox Customer Reviews

Overall Rating

4.1

Based on 94 reviews

View all 94 Reviews

Rating Summary

5
52%
4
27%
3
6%
2
5%
1
8%

Review Analytics

Platform 12 votes

Charges 5 votes

Transparency 1 votes

Features 13 votes

Customer Support 13 votes

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jenil patel

(5)

Posted on 23 Nov 2022

Good

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mahendra singh

(5)

Posted on 06 Oct 2022

Nice

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jagannath raysamanta

(1)

Posted on 22 May 2022

nice

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subhankar dey

(2)

Posted on 11 May 2022

Charges are higher than other brokers. If you want features and to pay AMC go for zerodha the charges are lower than upstox. If you don't want to give AMC go for groww it to have low charges as compared to upstox but having less features.

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krishan kumar

(4)

Posted on 27 Apr 2022

Good

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mustafa sayed

(5)

Posted on 10 Apr 2022

Good

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harshad shivaji patole

(1)

Posted on 09 Apr 2022

Best app for investment in my point of view

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vashishtha maurya

(5)

Posted on 30 Mar 2022

Happily trading since 2020 with UPSTOX

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akash babu

(4)

Posted on 02 Mar 2022

Good service but features is old

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manoj

(5)

Posted on 13 Feb 2022

simply awesome

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tulsi kumar saw

(5)

Posted on 17 Jan 2022

Best platform and broker

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sunil wandhare

(5)

Posted on 14 Jan 2022

very Good

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sudhir raigur

(2)

Posted on 27 Dec 2021

Brokerage is expensive 2.5% or 20rs whichever is lower.its is the most expensive discount broker

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prabhakar dutta

(5)

Posted on 06 Dec 2021

I am using last 4 years with minimal issue and quick resolving everyone should go with upstox for delivery and long term purpose

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nilesh shidore

(1)

Posted on 01 Dec 2021

Wrist broker, no costumer support

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md kamaluddin

(2)

Posted on 24 Nov 2021

Account opening proses very hard

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krushna chandra sahu

(2)

Posted on 13 Nov 2021

Features good but too much charges

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pawan kalyane

(1)

Posted on 23 May 2021

Worst app. No customer care support. Can't change primary bank account. Can't submit E mandate. No help after raising ticket. Request not to use this app.

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sayed alam

(5)

Posted on 21 May 2021

Can you tell me the procedure of opening BSDA account? I will be very helpful and thankful for this. {Because I am a small investor and the AMC is high for me??}

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saptarshi mandal

(5)

Posted on 15 May 2021

??

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beckey singh

(5)

Posted on 11 May 2021

love it

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kavya kathuria

(5)

Posted on 29 Apr 2021

Great

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k. ritika

(5)

Posted on 23 Apr 2021

Great experience

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pritish pradhan

(5)

Posted on 10 Apr 2021

Upstox is the future.

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nishant kumar

(4)

Posted on 09 Apr 2021

I'm long term investor in particular, so squaring off the underperforming stocks and stocks under some external issues is very painful due to very high DP charges on sell side, plus MMC charges are also a masked charges which I missed while selecting my broker. The mobile application is very good, and has many technical indicators to use at same time, we can see news related to that company at the same interface! I hope everyone finds it useful. ??

Frequently Asked Questions

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.

  1. 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.