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.
- 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 Plan||Upstox Brokerage Plan|
|Equity F&O, Commodity and Currency||Rs. 20 per trade or 0.01% (whichever charges are lower)||Rs. 30 per trade or 0.05% (whichever charges are lower)|
|Equity Delivery||Rs. 0 (Free)||Rs. 0 (Free)|
|Equity Intraday||Rs. 20 per executed order||Rs. 30 per executed order|
|Equity Futures||Rs. 20 per executed order||Rs. 30 per executed order|
|Equity Options||Rs. 20 per executed order||Rs. 30 per executed order|
|Currency Futures||Rs. 20 per executed order||Rs. 30 per executed order|
|Currency Options||Rs. 20 per executed order||Rs. 30 per executed order|
|Commodity Futures||Rs. 20 per executed order||Rs. 30 per executed order|
|Commodity Options||Rs. 20 per executed order||Rs. 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
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.
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
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.
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:
- PAN Card
- Adhaar Card
- Cancelled cheque
- Bank statement
- Passport size photos