Upstox Review 2023

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Upstox Brokerage Plan, Fees and Charges

Upstox is one of the cost-effective discount brokers that offer a flat or fixed brokerage pricing model at Rs. 20 per executed order. It charges a flat brokerage fee of Rs. 20 or 0.05% whichever is lower on equity intraday, equity futures, commodity futures & options, and currency futures & options, and a lower of Rs. 20/order or 2.5% on equity delivery trading.

Upstox Brokerage Plan with closest competitors

Here we are comparing Upstox with its 5 close competitors, who are currently market leader in brokerage industry.

Broker	Upstox	5paisa	Zerodha	Fyers	Paytm Money
Service Type	Discount Broker	Discount Broker	Discount Broker	Discount Broker	Discount Broker
Brokerage Range	Rs 20	Rs 20	Rs 20	Rs 20	Rs 15
Account Type	3 in 1	2 in 1	3 in 1	2 in 1	2 in 1
Equity Delivery	2.5% or Rs 20 whichever is lower	Flat Fee Rs 20	Free	Free	2.5% or Rs 15 whichever is lower
Equity Intraday	0.05% or Rs 20 whichever is lower	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.03% or Rs 20 whichever is lower	0.05% or Rs 15 whichever is lower
Equity Futures	0.05% or Rs 20 whichever is lower	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.03% or Rs 20 whichever is lower	0.02% or Rs 15 whichever is lower
Equity Options	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 15 per order
Commodity	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Currency Futures	0.05% or Rs 20 whichever is lower	Flat Fee Rs 20	0.03% or Rs 20 whichever is lower	0.03% or Rs 20 whichever is lower	NA
Currency Options	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	Flat Fee Rs 20	NA
Rating

Type of Account offered by Upstox

Upstox Demat & Trading Account

Upstox is a registered CDSL Depository participant to offer Demat account services to customers. You can open a Free Upstox Demat Account at zero account opening charges and start online trading on BSE, NSE, and MCX. Upstox Demat account is a single place to keep all your securities and mutual funds at one place. Upstox 2-in-1 (trading + Demat account) are interlinked wherein all the buy and sell orders are placed through trading account and the securities are transferred and credited into your Demat account.

Upstox 3-in-1 Account/IndusStox 3-in-1 account

Upstox through partnering with IndusInd Bank offers 3-in-1 account opening facility. Upstox 3-in-1 (Demat + Trading + IndusInd Bank A/c) bundled in one single account offers seamless trading and investment experience with a bank security and hassle-free fund transfer process. Opening a 3-in-1 account with Upstox serves the following benefits;

• No minimum balance requirements.
• Smart fund transfer facility.
• Earn interest on available fund balance.
• Free call & trade upto 10 call limit.

Open Upstox IndusInd Bank 3-in-1 Account

Upstox Commodity Trading Account

Upstox is a registered MCX member, and of you want to start commodity trading then you must open Upstox Commodity Trading Account. Upstox charges a lower of Rs. 20 per order or 0.05% on commodity futures trading and flat or fixed Rs. 20 brokerage on commodity options trading.

Upstox Mutual Fund Account

If you have opened a trading and Demat account in Upstox then you can invest in direct mutual funds for free at zero commission. Upstox Pro App and Website are the mutual fund investment platform that allows customers to invest in direct mutual funds. You can invest lumpsum or start SIP in 2,500+ mutual funds of 28+ AMCs across equity, debt, and hybrid asset class.

How to open Upstox Account online?

Upstox offers a 100% paperless and hassle-free account opening process that just requires your PAN + Aadhaar card + eKYC only. You can open a Upstox account through the Pro mobile app or website. Users can open a Upstox account online in just 10 minutes and it will get activated within 24 hours.

1. Head to the Upstox website, and click on Create Account
2. Upstox Sign-up: Enter your mobile number and then a 6-digit OTP for verification.
3. Create a 6-digit PIN and reenter it to quickly access the Upstox account.
4. Enter your E-mail ID address.
5. Enter PAN Card number and date of birth (DOB) as per PAN card.
6. Provide personal details like Gender, marital status, annual income, and trading experience.
7. Based on the document, the system will automatically fetch your correspondence address, and you have to verify it.
8. Enter a digital signature that must be mapped with your PAN card or bank account.
9. Complete in-person verification by taking a live photo of yourself.
10. Add bank account details like account holder name, IFSC Code, and account number.
11. Keep scanned copies or soft copies of all the documents i.e., PAN card, Aadhaar, canceled cheque leaf, and latest bank statement.
12. E-sign now your application through Aadhaar-based OTP verification.
13. Now, the details will be verified by the Upstox scrutiny team and if verified, your user ID or unique client code (UCC) along with the password for your trading account will be sent to your registered email address.

Upstox Mobile App and Trading Platforms

Upstox discount brokerage house has one of the best trading platforms in web and mobile app versions. Upstox Pro platform is built with Omnesys Nest OMS (Order Management System) and RMS (Risk Management System).

Upstox Pro Mobile App

Upstox Pro app is an all-in-one mobile trading application to place orders across equity, F&O, commodity, and currency segments simply using your mobile phone. Upstox app is free to use mobile trading app for all Upstox customers. Real-time technical charting, multiple-chart view, 100+ charts, and 250+ technical indicators with ChartIQ, 10+ years of historical data, multiple customizable watchlists, watchlist widget, price alerts, and instant UPI-based fund transfer are the most attractive features and made it the best mobile trading app in India. The easy-to-use Upstox App can be downloaded on Android and iOS devices from the Play Store and the App Store.

Upstox Pro Web

Pro web is Upstox web-based HTML trading platform that runs on any browser i.e. Chrome, Safari, Internet Explorer, etc. Mobile, desktop, and laptop users can simply log in to their Upstox account on the Pro web platform and access a number of features like unlimited watchlists, one-click trade, TradingView, and ChartIQ charting libraries, powerful charting, 100+ technical indicators, Bracket orders & cover order, and download trade reports, fund transfer report, etc.

Upstox API

Upstox developer API allows customers to build their own front-end trading platform using Python and Node JS languages. Interactive API offers access to real-time updates, order placement, positions, holdings, etc. whereas its Historical API offers access to OHLC (Open, High, Low, and Close) data for different intervals from 1 min to 1 month. It is to be noted that Upstox API is not available to new customers, which means only closed-group users can access the API services.

• Upstox Interactive API charges; Rs. 750 per month
• Upstox Historical API charges; Rs. 500 per month

For detail review of mobile app and download please visit Upstox Trading Platform Review.

Upstox Trading Pros

• Flat Rs. 20 brokerage across segments.
• Invest across global companies in 25+ countries.
• Apply for IPO and direct mutual funds for free.
• Zero Demat AMC or annual maintenance charge.
• Zero hidden costs.
• Advanced orders like bracket order, cover order, and after-market order.
• Advanced Pro web and mobile app-based trading platforms.
• Upstox Developer Console to build your own trading platform using Python.
• Upstox Bridge for AmiBroker to create and execute trading strategy.
• Availability of margin against shares.

Upstox Trading Cons

• Equity delivery trading is not free and charged at a lower of Rs. 20 per order or 2.5%.
• Upstox doesn’t have unlimited monthly trading plan.
• Call & trade services are not free, charged at Rs. 20 per executed order.
• Upstox doesn’t provide stock market trading tips and recommendations.
• NRI trading is not available since Jan 2018.
• 24/7 customer service is unavailable.

Upstox Customer Care info

You can access Upstox customer services over email, helpline number, chat, and web support via raising a ticket online. It also has a dedicated account opening service desk for existing as well as new customers. Upstox help center resolves customer queries on various aspects like account opening, API, brokerage charges, global investment, pro web, and app platform usage, etc.

• Upstox Customer Care Phone Number: +91 22 6130 9999
• Upstox Customer Support Email: [email protected] 
• Upstox Knowledge Center: https://upstox.com/help-center/

Final thought about Upstox

Upstox has established a strong foothold in the Indian discount brokerage space with 10+ years of operating history and 50 Lakh + active users. Its Rs. 20 flat brokerage prices on intraday and F&O trades along with a advanced Pro trading platform with quick order placement and faster trade execution made Upstox an excellent broker for intraday traders. However, if you only trade in delivery segments (CNC, Cash N Carry) then you should open an account with Zerodha which offers free delivery trading while Upstox charges a lower of Rs. 20 per order or 0.05% brokerage charges on delivery.

Reference Topics

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