UPSTOX

4 Overall

Upstox is a discount brokerage company headquartered in Mumbai, India that holds memberships with the NSE, BSE, MCX, and MCX-SX. The company allows retail investors and institutional corporations in India the ability to invest in financial market at lower rates compared to traditional full-service brokers.

Brokerage Charges4.5
Platforms & Tools 3.5
Customer Service 3.5
Cons
  • No Provision to Invest in IPOs & Mutual Funds.
  • Margin funding and margin against shares is not available.
  • Average Customer Service.

Upstox Overview

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Upstox, formerly known as RKSV Securities is the second largest discount broker that offers multiple opportunities in Equity, Currencies, & Commodity trading services at BSE, NSE, & MCX. They are low-cost broking firm with more than 20,000 customers across the country, and a turnover of INR 7000 crore on a daily basis. This stock broking firm was launched in retail trading segment in January, 2012 by Raghu Kumar, Ravi Kumar and Shrinivas Viswanath and is backed up by some of the prominent names such as  Ratan TataKalaari Capital and GVK Davix.


Upstox Brokerage Charges

Upstox offers two different type of trading account to suite investors/traders need:

  1. Upstox Basic Plan
  2. Upstox Priority Plan
Upstox Basic Plan

Upstox Basic Plan offers low brokerage charges similar to Zerodha in equity Investment for brokerage free and 0.01% or Rs 20 whichever is lower per executed order for all other segments be it equities intraday, currencies, FnO, or commodities.

Trading Segment Brokerage Charges
Equity Delivery Rs 0 (Free Unlimited Equity Delivery Trades)
Equity Intraday 0.01% or Rs 20 per trade whichever is lower
Equity Future 0.01% or Rs 20 per trade whichever is lower
Equity Options Rs 20 per executed order
Currency Futures 0.01% or Rs 20 per trade whichever is lower
Currency Options Rs 20 per executed order
Commodity 0.01% or Rs 20 per trade whichever is lower

Upstox basic plan offers upto 20x leverage on Cash segment.

Upstox Priority Plan

Along with the standard features offered in Upstox Basic Plan, Upstox Pro offers stock search, analyze, trade, and monitor stocks, currencies, F&O, and commodities.

Upstox Pro provides advance charting for professional traders for technical analysis. It also offers wide range of indicators, chart types, data rich user interface.

Segment Upstox Priority Pack
Equity Delivery Rs 0 (Free Unlimited Equity Delivery Trades)
Equity Intraday 0.05% or Rs 30 per trade whichever is lower
Equity Future 0.05% or Rs 30 per trade whichever is lower
Equity Options Rs 20 per executed order
Currency Futures 0.05% or Rs 30 per trade whichever is lower
Currency Options Rs 50 per executed order
Commodity 0.05% or Rs 30 per trade whichever is lower

Upstox Pro is the trading platform for frequent traders; who trade in Indra-day and F&O segments. This plan offers upto 25x leverage on Cash segment.

Upstox Trading Plans Comparison
Segment Upstox Basic Plan Upstox Priority Pack
Brokerage - Equity Delivery Free Free
Brokerage - F&O, Commodity, Currency Rs 20 per trade or 0.01% (whichever is lower) Rs 30 per trade or 0.05% (whichever is lower)
Margin - Intraday
NSE/BSE Cash 15x 20x
Index Futures 4x 5x
Stock Futures 4x 4x
Index Option Sell 4x 5x
Stock Option Sell 4x 4x
NSE Currency 4x 4x
MCX Future 2.5x 3x
Margin - CO/OCO Orders
NSE/BSE Cash 20x 25x
Index Futures 10x 14x
Stock Futures 4x 6x
NSE Option Buy 1.33x 2x
Index Option Sell 4x 5x
Stock Option Sell 4x 4x
NSE Currency 4x 5x
MCX Future 3x 4x

Upstox Account Opening Charges
  • Trading Account Opening Charges : Rs 150 for equity and FnO, Rs 150 for commodity
  • Demat account Opening Charges : Nil
  • Trading Annual Maintenance Charges: Nil
  • MCX Trading Account Opening Charges : Rs. 150
  • Trading Account plus Demat Opening Charges : Rs. 150 + Rs. 150 as AMC to be collected upfront
  • Trading Account plus Demat plus MCX: Rs. 150+150+150
  • Demat Account Annual Maintenance Charges (AMC): Rs 150 Per Year

Upstox Other Charges

  • Call & Trade: Rs 20/- per executed order
  • Physical contract notes: Rs 25 per contract note plus courier charges. (Digital contract notes are free.)
  • Instant Money Transfer Fee: Rs 7 per transfer
  • Transaction charges while selling equity will be Rs. 13 + 5.5 + service tax.

Upstox Platforms & Tools

Upstox is famous for offering customized trading platforms and tools based on customer requirements. Upstox has a team of more than 20 developers which are capable of creating terminal based, web based, and mobile app based trading platforms for its users.

Nest Trading Platform – It is a desktop version that can be easily installed on a desktop or laptop. It offers advanced trading tools for traders and investors who trade frequently. Following are some of the features of this platform:

  • Provides high-speed trading with very low delays during transactions
  • The interface can be customized as per customers’ requirements
  • Users can stream data on multiple interfaces
  • Offers advanced charting features to help perform technical analysis

Upstox Pro Web – Upstox offers a more sophisticated web-based platform that works on cutting-edge technology that helps traders and investors to trade faster as per the live market. This platform is a light-weight browser based trading platform that can be accessed using internet on your computer, laptop, or tablet without having to download anything. Following are the features of this platform:

  • Can be assessed through any browser or device
  • Offers high functional charts with over 100 indicators
  • Ordering window is displayed on which users can place orders simultaneously
  • Customizable features as per the customers
  • Offers keyboard shortcuts for faster transactions
  • Real-time margin alerts and quotes
  • Provides instant notifications

Upstox Pro Mobile App - The mobile application Upstox Pro Mobile App follows a similar design scheme as the web version. On using the mobile app, there are some features that the customers can avail.

  • Real-time prices from NSE FnO, NSE Cash, BSE Cash, NSE currency and BSE currency
  • Line chart, candlesticks with charting indicators and drawing tools for users to comprehend data easily enabling faster decision making
  • Offers advanced order types such as cover order or bracket order
  • Easy money transfer is available within the app

Upstox Education & Research

Although Upstox does not provide any advisory services related to buying and selling of stocks, it educates people about the financial markets through Trade Academy. It is an educational blog that trains aspirants across India and abroad. It trains the investors about everything from the basics of the stock markets to options trading strategies. It also introduces algorithmic trading to experts in the industry. Trade Academy runs free and premium online courses that are attended by a large number of audiences every day


Upstox Customer Service

Upstox offers the following communication for its clients to get in touch with them:

Upstox provides its investors all types of communication channels such as web chat, toll-free numbers and also some automated bots that help traders to have a smooth trading experience. Although there are numerous ways of communication that the discount broker provides, there are certain areas of improvement. Thus, clients who trade regularly might find the overall trading quality below average.


Upstox Closing Thoughts

Upstox is a great choice for trading as it offers an advanced suite of platforms and tools. If you are a beginner, you will like the features of zero brokerage and the availability of advanced trading platforms. Although the web platform is well organized and user-friendly, it takes time to get used to viewing and does not look good on smaller screens. Overall, it doesn’t matter if you are a beginner or an experienced trader if you are looking for a broker Upstox should be in your shortlist.