upstox review

Upstox Review 2020 | Demat & Trading Account Pros & Cons

Upstox is a discount brokerage company having headquarters in Mumbai, India. The company started as RKSV in 2012 but later it was rebranded to Upstox in 2015. It holds memberships with the MCX, BSE, MCX-SX, and NSE. Upstox Review lets institutional corporations and retail investors the ability to put money into currencies, stocks, options, commodities, and futures at lower prices compared to traditional brokers.

HISTORY OF UPSTOX

Upstox was found by 3 cofounders; Srinivas Viswanath, Ravi Kumar, and Raghu Kumar, Raghu and Ravi are brothers and they ran their own proprietary trading company in the United States before being the founders of Upstox. Upstox established to the public by getting involved in retail brokerage and started an unlimited trading plan which allowed retail traders to reduce an amount on their brokerage costs. This was followed by a blanket brokerage package that allowed unlimited trade to their customers for just Rs 1947/month. It also introduced some new brokerage plans it includes five free trades in a month to increase customers.

Comparison of Upstox Brokerage charges with ICICI Securities and Sharekhan

  • Comparing the Upstox brokerage charges with Sharekhan and ICICI securities, it is clear that the brokerage of Sharekhan ranges from 0.1 to 0.5% per trade and from 0.5 to 0.55% per trade for ICICI Securities while it is fixed to be Rs. 20 for Upstox. 
  • Also, the Sharekhan and ICICI Securities are Full-service Provider whereas Upstox is a Discount Broker.    

DIFFERENT CHARGES OF UPSTOX

Upstox Brokerage Charges

Upstox has two trading plans for its customers, i.e. Basic Plan and Priority Plan. Below is the comparison of Upstox brokerage charges of these two plans:

 Upstox Basic PlanUpstox Brokerage Plan
Equity DeliveryFreeFree
Equity F&O, Commodity and CurrencyRs. 20 per trade or 0.01% (whichever charges are lower)Rs. 30 per trade or 0.05% (whichever charges are lower)
Equity DeliveryRs. 0 (Free)Rs. 0 (Free)
Equity IntradayRs. 20 per executed orderRs. 30 per executed order
Equity FuturesRs. 20 per executed orderRs. 30 per executed order
Equity OptionsRs. 20 per executed orderRs. 30 per executed order
Currency FuturesRs. 20 per executed orderRs. 30 per executed order
Currency OptionsRs. 20 per executed orderRs. 30 per executed order
Commodity FuturesRs. 20 per executed orderRs. 30 per executed order
Commodity OptionsRs. 20 per executed orderRs. 30 per executed order

Upstox Account Opening & Annual Charges

Upstox Trading Account Opening Charges (One Time)Rs. 150 for Equity and F&O and Rs. 150 for MCX
Trading Annual Maintenance Charges of Upstox (Annual Charges)Rs. 0
Upstox Demat Account Opening Charges (One Time)Rs. 0
Upstox Demat Account and Annual Maintenance Charges (Annual Charges)Rs. 150

TRADING PLATFORMS OF UPSTOX

Upstox provides many platforms which are used by its users for trading purposes. Below are the Upstox trading platforms:

Upstox Pro Web

Upstox Pro web is the best trading platform in India provided by Upstox and is based upon browser. It has some advanced features such as charts, algo trading, API integration, and technical indicators. These features are really helpful for its users in understanding the market well and in performing an in-depth analysis of the market.

Pro web also uses the socket technology by which users can access the real-time market data at a faster pace. Drag and drop facility is available to drag the script in the chart screen and see the script in the form of a chart.

Upstox NEST Trader Desktop

NEST Trader is another trading platform provided by Upstox and is advanced trading desktop software. This helps its users to keep an eye on the market, place orders accordingly and buy and sell the shares in real-time. The application can be installed on your desktop or laptop.

The various features of NEST Trader include multi-monitor support, customizable interface, advanced charting, enterprise-level stability, and low latency.

Upstox Pro Mobile App

Upstox Pro Mobile App is the best trading app in India that is available in the form of a mobile app. The app allows its users to track the scripts marked as favorites by its users, monitor the market using the charting tools and many technical indicators available in the app.

The app can be installed in both Android as well as in iOS versions.

 

Additional products by Upstox

Dartstock

Everyone wants to do the trading to be more efficient, fast and productive. For this, Upstox has partnered with iDarts so as to make Dartstock software available for its users who can use it in their daily trading platform. It provides sophisticated charting tools that help its users to capture the trading opportunities and analyze the scripts.

Foxtrader

Upstox believes in sharing trading knowledge with everyone. Thus, Upstox has partnered with Reliable Software India Private Limited in order to bring the Foxtrader trading software for its users. It allows its users to analyze the markets using the various charting tools and backtest strategies to make the trading as effortless and done with one-touch technology.

UPSTOX REVIEW – MY EXPERIENCE WITH UPSTOX SO FAR 

I had a very great experience with Upstox. I have been using Upstox for the past 1 year after experiencing other trading websites. I really appreciate the services provided by it. The brokerage and account opening charges are very less as compared to many other trading websites. The account opening process is very easy and smooth that requires a few documents.

The low brokerage charges and high margins are the main features of the popularity of Upstox. The user interface is quite impressive and the website is also very easy to use that even a new user can start using it without much effort. All in all, it was a great experience that I had while trading with Upstox.

What I Like & What I Didn’t Like About Upstox

Upstox is considered to be one of the best trading platforms in India. It has a large number of pros that make it best while it has some cons as well.

PROS

  • The trading with Upstox is free of any brokerage charges in Equity Delivery Segment. Also, the margin is available against the shares for its customers.
  • Upstox provides the best mobile trading app as well for both android and iOS users free of cost. So, its users can trade anytime and anywhere without any difficulty.
  • There are many trading platforms of Upstox that come up with various advanced features such as buying and selling the shares, analyze the market and plan accordingly.
  • Orders such as After Market Order, Cover Order, Bracket Order, One Cancels Other Order, and Trailing-Stop/Stop-Loss are available on both web and mobile.
  • The Mutual Fund platform of Upstox gives its users to invest in mutual funds by choosing SIP or Lump sum pattern for investment.

CONS

  • Brokerage trading is available free of cost for the equity delivery segment only. For other segments, such as Commodity F&O, Equity F&O, and Currency Derivative, Rs. 2 per trade is to be paid as brokerage charges.
  • The equity segment does not contain the Good Till Cancelled (GTC) and Good Till Date/Time (GTD) orders. These are available in commodity trading only.
  • There s no facility of making an investment in FPO, IPO, Bond, and NCDs.

How To Open Zerodha Account?

To open the account with Zerodha, there is an online and offline method. 

Upstox allows you to open them in two ways, either the traditional method using the paper form or the Adhaar based paperless online method. The online method is very efficient and fast. Very less documentation is required which includes PAN Card, Adhaar Card, canceled Cheque and Latest Bank Statement with IFSC/MICR code. 

The login password for trading generates within 48 hours but in my case, I got it the very next day. The trading can be started without signing any document. You only need to sign the Power of Attorney document which needs to be couriered to Upstox if you want to sell or transfer the shares and mutual funds via Upstox.

The Documents Required Are:

  1. PAN Card
  2. Adhaar Card
  3. Cancelled cheque
  4. Bank statement 
  5. Passport size photos 

CONCLUSION

To conclude, Upstox is the best trading platform present today for the people who love to invest their money in mutual funds and SIPs. There are various features making it ahead in the race with other trading websites. 
The brokerage charges and account opening charges are very less. The website design is good and user-friendly. Various advanced features in its trading platforms that help its customers to analyze and keep an eye on the stock market. 
The advanced charting tools are available to see the scripts in chart form by using the drag and drop facility. All these features of Upstox make it a perfect trading site among its customers. The positive Upstox reviews shared by its customers are the proof of its popularity in the trade market.

Anshul Agarwal

Anshul Agarwal

Anshul Is An Young Stock Market Enthusiast, He Trade Frequently & Has Gained A Great Knowledge In Financial Market. He Loves Contributing His Knowledge To Various Blogs & Magzines.

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