Upstox Review: Heard about Upstox? Well, let me tell you that it is the first low-cost technical broking firm in India. It is responsible for presenting trading possibilities in the fields of equities, stocks, currencies, and futures at an unbeatable price. Many trading options are available on Upstox Pro Mobile trading platforms and Upstox Pro Web.
Contents
About Upstox:
Where can you find Upstox? From 2011, Upstox is a private discount broking company established in Mumbai. The foundations of the company were laid down by Ravi Kumar, Raghu Kumar, and Shrinivas Viswanath. It is supported by a team of investors which include Ratan Tata, Kalaari Capital, and GVK Davis.
Other than trading it has features for analyzing and mapping. With this platform, you can easily place orders over your mobile phones or on the internet.
Upstox Features:
- An extensive tool to examine stocks.
- Free platform for trading in stocks, equities, currencies, futures, and options.
- Effective charting tool with more than 100 technical indicators.
- The charting tool is used to represent varied intervals, natures, and drawing forms.
- Ability to trade undeviatingly from charts.
- Generate endless price alerts and instant updates.
- Design unlimited customized watchlists.
- Get real-time market stock updates.
- Obtain access to a predefined watch-list of Nifty 50.
Upstox Brokerage Charges
Upstox is a low-cost trading platform. Check out the table for knowing the brokerage charges in detail.
Brokerage Charge & Fees | |
Equity Delivery Trading | Zero |
Equity Intraday Trading | Rs.20 per executed order or 0.05% (whichever is lower) |
Commodity Options Trading | Flat Rs.20 per executed order |
Commodity Futures Trading | Rs.20 per executed order or 0.05% (whichever is lower) |
Equity Futures Trading | Rs.20 per executed order or 0.05% (whichever is lower) |
Equity Options Trading | Flat Rs.20 per executed order |
Currency Futures Trading | Rs.20 per executed order or 0.05% (whichever is lower) |
Currency Options Trading | Flat Rs.20 per executed order |
Minimum Brokerage | Rs.20 |
Demat AMC Charges | Free |
Trading AMC Charges | Free |
Margin Money | Zero |
Brokerage Calculator | Upstox Brokerage Calculator |
With Upstox, investors get a chance of leveraging trade. It allows investors to keep their investments or dividends as collateral for enhancing the trading margin.
Upstox Charges:
Upstox Demat Account Opening Charges
Refer to the table below to get details about the account opening charges for a Upstox Demat account.
Demat Services | |
Depository Source | CDSL |
Account Opening Charges | Rs.150 |
Demat AMC Charges | Rs.150 per Annum |
Trading AMC Charges | Free |
Margin Money | Zero |
Offline to Online | No |
In India, Upstox is a leading discount broker with diverse trading services and facilities. Its depository origin is CDSL and charges an amount of Rs. 150 for opening a Demat account.
In addition to that, you need to pay Rs. 150 as an annual charge for Demat account maintenance.
Bank Account + Demat + Trading Account Free
Documents required to open a Upstox Demat account?
Identity Proof documents:
- PAN Card
- UID (Aadhaar)
- Driving Licence
- Passport
- Voter Identity Card
- NREGA Job Card
- Any document notified by the central government
Address Proof documents:
- Passport
- UID (Aadhaar)
- Voter Identity Card
- State issues Driving License
- NREGA Job Card
- Utility bill which can include your telephone, electricity, post-paid mobile phone, piped gas, or water supply bill.
- Bank account statement.
- Government-issued documents and letters issued by the Foreign Embassy of India.
Bank Proof documents:
The broker needs bank proof which includes:
- Users name
- Bank’s IFSC Code
- MICR
How to Open Upstox Demat Account? (Step by Step)
Follow these step-by-step processes to open a Upstox Demat account.
Now, you can sign up and finish the registration process online. If you have an Aadhaar card linked with your mobile number then go for it.
- Open Upstox online Demat account opening page.
- Here, enter all the necessary details.
- Once you’re done, click on Sign Up.
- Make sure you have scanned copies of all the documents like the Aadhaar Card, PAN card, canceled cheque, and recent bank account statement for uploading.
- Carefully enter the Aadhaar details. Then, enter the OTP received on your verified mobile number.
And your Demat account is created.
Offline Account Opening Process
- Get an account opening form from the broker.
- Now, you have to fill the form. Do attach identity proof and address proof.
- Once you’re done, then sign an agreement with the broker. This document will declare liabilities as a trader or investor of the brokerage firms. Keep a photocopy of this document for future reference.
- When the broker checks and processes your documents, then you’ll get your account number. This number is called the Beneficial Owner Identification Number (or BOID) or Unique Client Code (UCC).
Also, you’ll obtain some confidential data like login ID and key for handling online portals and trading. Keep in mind that you might be charged for using online portals.
Upstox Trading Platforms
Upstox grants both mobile and website-based trading. It acts as a built in-house by RKSV which makes it remarkably simple to place orders over your mobile phone or through a web browser. But at present, there is no trading terminal available through Upstox.
Upstox Pros
- No brokerage fee for delivering trades in the equity section.
- Mobile trading application is available for both iOS and phones.
- No software applies charges.
- Cover Order, After Market Order (AMO), and Bracket Order(BO) or One cancels Other (OCO) orders are available on both mobile and web.
- Trailing-Stop or Stop-Loss (SL) is also available.
- With Upstox Pro Web Trading Platform, multiple indicators can observe markets on-the-go.
- Upstox Bridge for AmiBroker assists you in coding and executing trading strategies with the help of the AmiBroker AFL editor.
- Upstox Developer Console aids you to build your trading application using the Python language.
- Upstox Option Chain Tool supports traders in discovering the Spot, vertical ratio of rates, future prices, details like circuit levels, Open High Low Close, and market depth.
- Upstox MF Platform allows 1000’s Mutual Funds investment. So, customers can pick Lumpsum or SIP form of investment.
- Margin against shares is possible.
- Priority Brokerage Package is for customers who demand tremendous leverage.
- Online IPO Application (UPI) is available.
Upstox Cons
- Good Till Date/Time (GTD) and Good Till Cancelled (GTC) are not possible in Equity Segment.
- No Margin Funding is possible on delivery trades. As higher leverage is there in the Upstox Priority Pack account.
- Doesn’t allow unlimited monthly trading plans.
- Call and trade fee is charged more than Rs 20 per executed order i.e. Rs 20 Brokerage charge plus Rs 20 Call & Trade Fee.
- Additional Rs 20 is charged per executed order for Intraday square MIS/BO/CO orders.
- Brokerage-free trading is possible only in the Upstox Basic plan.
- Upstox Demat debit transaction charges are Rs 21.83 which is are higher in comparison to other discount brokers.
- No stock tips or suggestions are provided.
- No 3-in-1 accounts.
- 24/7 customer service is not feasible.
- Upstox NRI Trading and Upstox Demat accounts are not available.
- No API admittance for automated trading.
Also Check: 5Paisa Demat Stock Trading Account Review
Upstox Customer Care Details:
- For Platform Support or any queries contact Customer Care on any of these numbers: 022-4179-2999. 022-6130-9999. 022-7130-9999.
- For new account opening, submit all your documents and details at new.account@upstox.com or you can also write us at sales@upstox.com
FAQs:
Q: Who is the CEO of Upstox?
Ravi Kumar is the co-founder and Chief Executive Officer (CEO) of Upstox.
Q: Can we trust Upstox?
Yes, Upstox is a trustworthy, safe, and legit online discount stockbroker situated in Mumbai. It has a fellowship of BSE, NSE, and MCX exchanges.
Q: How can we delete the Upstox account?
For deleting the Upstox account, submit an account closure request form. Else you can do it online by contacting customer care on the phone or chat.