Upstox is one of the major discount brokers in the country which is carving its own niche for the past years with its innovative trading products and services and especially exceptionally affordable brokerage charges.
This Upstox Review will give you insight into the different aspects of the firm and its products and services, its brokerage charges, other charges, Demat and Trading account, and about its trading platforms which is another benefit that Upstox traders get.
| Upstox Highlights | |
| Broker Type | Discount Broker |
| Demat Account AMC | Rs.249 per Annum |
| Margin Required | 75% Margin |
| Intraday Brokerage | Rs.20 |
| Delivery Brokerage | Zero |
| Exposure | Upto 5x |
What do you know about Upstox?
Upstox is a private firm that was incorporated by Raghu Kumar, Ravi Kumar, and Shrinivas Vishvanath in the year 2011. This discount broker offers trading products and services at a really low brokerage rate which is the primary feature of a discount broker.
The firm is based out of Mumbai and it has a huge network of traders across the country. This Upstox Review will let you know about how you can open an account with this discount broker and trade profitably.
| About Upstox | |
| Know a few details about Upstox | |
| Which type of Company is it? – Public / Private | Private |
| Which type of Broker is it? – Full Service / Discount | Discount Broker |
| Where is the registered office of the Company Located? | Mumbai, India |
| Who is the Founder of this Company? | Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath |
| When did the company start? | 2011 |
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What are the various Demat Account Opening Charges levied by Upstox?
Upstox Demat Account is registered with the CDSL depository of India and you can open the account with just Rs. 0 which is one of the lowest account opening charges you will find in the industry.
Along with such affordable rates for Upstox Account Opening, the firm also offers free trading accounts and also free annual maintenance of the same. For the maintenance of the Demat account you have to pay only Rs. 249 per year and Trading AMC is Rs.300 + 18% GST which is also very reasonable compared to traditional brokers, it is way too low and thus beneficial for regular traders.
| Upstox Demat Account Opening Fees | |
| Check out the various fees charged for Opening a Demat Account with Upstox | |
| Which is the Depository Participant involved? | CDSL |
| What are the Demat account opening charges? | Rs.0 |
| How much is the Demat AMC? | Rs.249 per Annum |
| What is the Trading AMC? | Rs.300 + 18% GST |
| What is the initial Margin amount required? | 75% Margin |
| Is dematerialization available? | No |
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Does Upstox provide any Offers to their Clients?
The Upstox Offers includes a free trading account with no maintenance charges. If you see in totality and for the long term, you can save a lot of your hard-earned money due to this offer. Apart from this, the firm also comes up with various discounts on brokerage which you can avail of according to your trading needs.
| Upstox Offers | |
| Here are the various offers provided by Upstox | |
| Does the broker provide a Free Demat A/C offer? | No |
| Does the broker provide Free Trading A/C offer? | Yes |
| Is this broker offers a Discount on Brokerage? | Yes |
| Does the broker offer Happy hour trading to their clients? | No |
| Is the broking house provides a flexible brokerage plan? | No |
| Does the broker offer 1-month Free brokerage? | No |
| Are the Holiday offers provided by the broker? | No |
| Are there any referral offers shared by the broker? | No |
| Zero Brokerage for Loss-Making Trades | No |
What are the Brokerage Charges levied by Upstox on various Segments?
There are no multiple Upstox Brokerage Charges. As a discount broker, this firm charges a single rate for every trade you do with them and the amount as you can see in the above table is only Rs.20 per executed order or 0.05%.
However, the firm charges no brokerage at all for the delivery trades which is another huge benefit for the traders who trade for the long term. Compared to the traditional brokers, the brokerage rate is super low as you can see and amongst the discount brokerage houses, Upstox has one of the lowest brokerages as well.
| Upstox Brokerage Charges | |
| Here you will find details of brokerage levied by Upstox on all segments | |
| What are the Equity Delivery Charges? | Zero |
| What are the Equity Intraday Charges? | Rs.20 per executed order or 0.05% (whichever is lower) |
| How much brokerage charged for Commodity Trading? | Rs.20 per executed order or 0.05% (whichever is lower) |
| What is the brokerage on Equity Futures? | Rs.20 per executed order or 0.05% (whichever is lower) |
| How much brokerage charged for Equity Options? | Flat Rs.20 per executed order |
| What is the brokerage on Currency Futures? | Rs.20 per executed order or 0.05% (whichever is lower) |
| What is the brokerage on Currency Options? | Flat Rs.20 per executed order |
| How much is the Minimum Brokerage required? | Rs.20 |
| What is the Demat AMC? | Rs.249 per annum |
| How much is the Trading AMC? | Rs. 354 |
| What is the Minimum Margin Required? | 75% Margin |
Does Upstox levy any other charges apart from Brokerage?
The other Upstox Charges include transaction charges which are also lower than the traditional brokers. It is only 0.00345% of the transaction (total turnover) as you can see in the given table above, while the traditional brokerage houses have higher transaction charges.
The other charges mentioned in the table like STT or the SEBI charges are statutory charges that are the same across the industry (approximately). The GST is applicable at 18% on any trade you do with any brokerage house.
| Upstox Charges | |
| Get a deep understanding of all other charges levied by Upstox | |
| How much are the Transaction Charges levied? | 0.00345% of Total Turnover |
| What are the STT charges? | Equity Delivery: 0.1% on both Buy and Sell Equity Intraday: 0.025% on the Sell Side *Equity Futures: 0.01% on Sell Side Equity Options: 0.05% on Sell Side(on Premium) Commodity Futures: 0.01% on the sell side (Non-Agri) Commodity Options: 0.05% on sell-side Currency F&O: No STT On Exercise transaction: 0.125% Right to entitlement: 0.05% on sell-side |
| What are the SEBI Turnover charges? | 0.00005% (Rs. 5/Crore) |
| How much is the Stamp Duty levied? | (On buy side only) Delivery: 0.015%, Intraday: 0.003%, Equity Futures: 0.002%, Equity Options: 0.003%, and Currency F&O: 0.0001%.Commodity Futures: 0.002%, Commodity Options: 0.003% (MCX) |
| How is the GST charged? | 18% on (Brokerage + Transaction Charge + SEBI Fee) |
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What is the Limit or Exposure offered by Upstox?
The Upstox Margin requirement is nil as you must have read in the above table (Demat Charges Table). There is no requirement for keeping any certain amount of money in the trading account in order to trade using the Upstox Demat and trading account.
However, that doesn’t stop this firm to provide a high Upstox Exposure up to 5 times. Yes, you read that right, Upstox provides up to 5 times of leverage for its equity trades in the intraday segment which is huge with no margin in the trading account.
For the other segments, the exposure level is low but compared to many other brokerage houses, it is still high if you consider no margin requirement.
| Upstox Exposure or Leverage | |
| Here you will find the exposure or limit provided by Upstox | |
| How much is the limit on Equity Delivery? | 1x |
| What is the limit on Equity Intraday? | Upto 5x |
| How much is the limit on Equity Futures? | 1x |
| What is the limit on Equity Options? | 1x |
| What is the exposure on Currency Futures? | 1x |
| How much is the leverage on Currency Options? | 1x |
| What is the limit on Commodity Trading? | 1x |
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How To Open Upstox Demat & Trading Account?
To Open Upstox Demat Account you just need to scroll and read this article as –
- You will find a button “Open Demat Account” below, which will pop up a form where you will have to fill in all your details as required.
- It is a form for opening Demat account with Upstox. Fill in the details correctly and mentioned all it is mentioned there and asked for.
- The next step is to upload the documents which are required to verify your details and your background.
- You need to upload the AADHAAR Details, PAN details, Bank Account details (Bank statements for past months as asked), address proof, and other details as mentioned in the form.
- Click on submit, and wait for a while. You will receive a call from the Upstox executives who will verify your details
- And once the verification process is over, you will get the login credentials for the account and then you can start trading.
As you can see it is very easy to open Upstox Trading Account and a Demat account and you can do it from this article only.
What are the various Trading Platforms provided by Upstox?
The Upstox Trading Platforms are one of the best in the industry. As a discount broker, it has one of the best trading terminals and applications for traders with lots of features and various uses. Let us now check out each of the platforms individually –
Upstox Trading Terminal – Upstox Nest Trader
The terminal software offered by Upstox is a NEST trading platform that is a popular trading terminal across the country. It is a product offered by NSE which is just appropriate for heavy traders.
Upstox Mobile Trading App – Upstox Pro Mobile App
The Upstox mobile application is called Upstox Pro Mobile App. This is your go-to trading application, you can trade across various segments using this simple yet highly efficient mobile trading application.
Upstox Web-based Trading Platform – Upstox Pro Web
The web-browser-based trading from Upstox is known as Upstox Pro Web which can be accessed from any device whether laptop/ desktop/ mobile and others. It is lightweight and has an abundance of features for a successful trading experience.
| Upstox Trading Platforms | |
| Here you will find all the important trading platforms available with Upstox | |
| Do they have Trading Terminals for Windows? | Yes |
| Do they have Trading Terminals for Mac? | Yes |
| Are they providing a Web Trading Platforms? | Yes |
| Do they have a Mobile Web Platform? | Yes |
| Does this broker provide Mobile Trading App for Android? | Yes |
| Does this broker provide Mobile Trading App for iOS? | Yes |
| Are they having Mobile App for Windows OS? | No |
| Do they have Mobile Trading App for Other OS? | No |
What are the features available in Upstox Trading Applications?
Let us see the feature of these three trading platforms individually –
Upstox Trading Terminal – Upstox Nest Trader Features
- This is a high-speed trading terminal that is perfect for daily traders as they always want to capture the market price so that they get better profit. It creates hardly any delays between the time of placing an order and execution of the same which helps in capturing the market price.
- The interface of the terminal is completely customizable. You can personalize it according to your requirements. It is super user-friendly.
- The interfaces of the terminal can show you data in real-time and you can check multiple segments in different interfaces simultaneously.
- If you are a trader who does his own analysis and then trades, then you have all the technical analysis tools in the terminal that you can use for your analysis. There are charts, technical indicators, and many more to assist you in your analysis.
The Upstox Mobile Trading App – Upstox Pro Mobile App Features
- This mobile application enables you to see the live prices of the stocks across various exchanges – segments
- On the mobile screen itself, you can do your technical analysis. There are different charts and technical tools which you can use and trade
- There are cover and bracket orders facility available from the mobile platform only
- There are more than forty banks that are connected and you can make your transaction via any of them using the mobile application only
Upstox Web-based Trading Platform – Upstox Pro Web Features
- Very lightweight trading platform for browser-based traders.
- One of the best browser-based platforms for performing technical analysis with the hundreds of technical indicators and charts that are available on the platform and then trade when you are sanguine about your move.
- Instantly you can place the orders while checking the scrips on the watch list as the ordering window is already and always displayed on the screen.
- This platform is also customizable and you can create the workspace interface as your needs are
- There are various shortcut keys available on the keyboard for various activities like buying and selling orders placing.
| Upstox Trading Application Features | |
| Here you will find various features available in Trading Platforms provided by Upstox | |
| Are these platforms capable of Real-time Updates? | Yes |
| Do these Applications provide Portfolio Details? | Yes |
| Is this software providing Online MF Buy? | Yes |
| Do these platforms have News Flash? | Yes |
| Are these platforms providing Research Reports? | Yes |
| Are these platforms Easy to Install & use? | Yes |
| Do these Apps have Global Indices? | Yes |
| Are these platforms having Stock Tips? | Yes |
| Does this software provide Personalized Advisory? | Yes |
| Are these platforms capable of Interactive charting? | Yes |
| Do these Apps provide Live Markets data? | Yes |
| Do they provide SMS Alerts? | Yes |
| Are they providing Email Alerts? | Yes |
| Do these platforms have a Multi-Account Management solution? | Yes |
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What are the various Products provided by Upstox?
Upstox Products are limited to the equity and F&O segments. The firm being a discount broker offers only the fundamental stock market products. It also has currency products apart from the equities and the future and options.
| Products | |
| Here are the various products provided by Upstox | |
| Does the broker allow Equity Trading? | Yes |
| Does the broker allow Commodity Trading? | No |
| Do they have Currency Trading products available? | Yes |
| Do they provide Options trading? | Yes |
| Are the clients allowed to trade in Futures? | Yes |
| Do they have Mutual Funds as a product? | No |
| Does the broker allow Forex trading? | No |
| Does the broker have Banking products? | No |
| Is SIP allowed by the broker? | No |
| Do they have Insurance as a Product? | No |
What are the various Services offered by Upstox?
There are various Upstox Services which are offered by the firm and the basic services are obviously Demat Trading services. Apart from them, you can avail of the intraday trading facility and IPO services as well. Being a discount broker, it has Robo advisory service which is incredible it its own.
| Services | |
| Check out the various services provided by Upstox | |
| Does the broking house provide Demat Services? | Yes |
| Does the broking house provide Trading Services? | Yes |
| Do they have 3 in 1 Account i.e. Demat, Trading & Savings A/C? | No |
| Do they provide Intraday Services? | Yes |
| Are they offering IPO Services to the client? | Yes |
| Do they have Stock Recommendations available? | No |
| Are they providing tools for Robo Advisory? | Yes |
| Does the broker provide PMS? | No |
| Do they have Trading Institution available? | No |
| What is the Trading Exposure this broker provides? | Upto 5x |
Does Upstox provide Research & Advisory to its clients?
Since Upstox is a discount broker, there are no Upstox Research and Upstox Advisory and analysis services provided by the firm. You have all the technical analysis tools on the platform for trading they offer and you can do your own research and analysis before investing in the market. Even on their trading platforms, you won’t find any Upstox Tips.
| Research, Advisory & Stock Tips | |
| Here are the various research activities are done by Upstox | |
| Does the broker share Fundamental Reports? | No |
| Does the broker share Research Reports? | No |
| Do they provide Company Reports to their clients? | No |
| Are they analyzing the Annual Reports of Companies? | No |
| Do they share Company Stock Reviews? | No |
| Are they sharing Free Stock Tips with their clients? | No |
| Do they analyze & share IPO Reports? | No |
| Does the broking company provide Top Picks? | No |
| Are they sharing Daily Market Review? | No |
| Do they have Monthly Reports? | No |
| Does the broker provide Weekly Reports? | No |
| Are they having Offline Advisory? | No |
| Do they provide Relationship Managers to clients? | No |
What are the Customer Care details of Upstox?
Upstox Customer Care is available to assist you round the clock. There are executives of the firm who will help you solve any issue that you are facing in the online trading arena offered by them. You can call them or chat with them. According to the customers, the firm has really great and helpful customer care service.
| Upstox Customer Support | |
| Let’s have a better understanding of the Customer Care Service of the broking house | |
| Are they providing Dedicated dealers to their clients? | No |
| Do they allow Offline Trading? | No |
| Do they have facilities for Online Trading? | Yes |
| Are they providing 24*7 Support? | Yes |
| Does this broker provide Email Support? | No |
| Is this broker having Chat Support? | No |
| How many Branches the stock broker has? | Zero |
Are there any Complaints filed against Upstox by their clients?
According to the last year’s report from NSE and BSE, there were Upstox Complaints registered with them. On the BSE platform, there were 185 complaints against this firm out of which they resolved 126.
On the NSE platform, it received 175 complaints and resolved 139. Though the number of complaints received and resolved are in a good ratio compared to other stock brokerage houses, the number of complaints resolved as per the registered complaints number is low. They need to be more prudent so that the customers don’t face such issues in the future.
| Complaints | |
| Here you will learn about the Complaints lodged against Upstox | |
| What is the total number of Complaints Lodged in BSE? | 185 |
| How many of these complaints have been Resolved in BSE? | 126 |
| What is the total number of Complaints Lodged in NSE? | 175 |
| How many of these complaints have been Resolved in NSE? | 139 |
What Are The Advantages / Benefits Of Upstox Trading Account?
The benefits of Upstox Trading Account are –
- Affordable and very reasonable brokerage charges
- High exposure without any margin money requirement
- There are different trading platforms with various features and charts, and other technical tools
- Upstox offers free or very nominal Demat and Trading account maintenance
- They have a Robo Advisory system
What are the Upstox Review & Ratings as per their Customer?
As per the Upstox Rating, though Upstox offers a limited number of products and services, their products are super-liked by the customers. With a rating of 9.5 out of 10 which is extremely satisfying, the customers have rated the products and the services as you can see in the table above.
However, Upstox Review by customers also depicts that they are completely unsatisfied with the trading platforms offered by the firm – Upstox. They have just rated it with a 3 out of 10 which is really unsatisfying. The other aspects are rates averagely as you can see and that suggests that the firm needs to work on itself a lot more to be on the top list of the customers.
| Ratings & Reviews | |
| We are looking at Companies’ Ratings on various parameters | |
| Stock Market Research & Broking Advisory | 5.3/10 |
| Brokerage & other Charges like – Turnover, Transaction Charges, etc. | 6.5/10 |
| Types of Products & Services the Brand provides | 9.5/10 |
| Performance Mobile App, Trading Terminal & Web Trading Platform | 3.0/10 |
| Experience in the Broking Business | 6.5/10 |
| Total Avg. Rating of Broking House | 6.2/10 |
| Star Rating given to Stock Broker | ★★★☆☆ |
| Number of People Contributed to These Ratings | 598 |
Upstox Conclusion
According to the Upstox Review above, we hope now you have a clear picture of the discount brokerage house – Upstox. The firm provides all the necessary services as a discount broker and charges cheap brokerage charges and a single rate for all the trades.
Its account opening is also very reasonable and maintaining the same is also very nominal. With the various trading platform, you can trade whenever and wherever you want.
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