Upstox is an online discount broker that provides trading services for mutual funds, exchange-traded funds (ETFs), equities, commodities, and currency derivatives.
With more than 3 million active members, it is one of the top online brokers in India. Upstox is renowned for its extensive selection of investment products, affordable brokerage fees, and easy-to-use trading interface.
Upstox was earlier known as RKSV Securities. It has become one of the most popular discount brokers right after Zerodha.
Upstox Review: Summary
|Upstox Owner (Founder)||Ravi Kumar|
|Overall Ratings||3.5 out of 5|
|Mobile Trading App||Yes|
|Supported Exchanges||NSE, BSE, MCX|
Upstox Review: Account Opening
Upstox account is very easy and it simplifies your way of trading. Once you activate your account, you can fund your account, start trading, and store your shares and securities securely.
With this account opening, you will get access to a wide range of investment options, like mutual funds, ETFs, bonds, and many more.
Upstox trading platform provides a user-friendly and seamless trading experience.
Documents required to open account at Upstox:
Proof of Identity
- PAN Card / Aadhaar Card
- Passport / Voter ID
- Driving Licence
Proof of Address
- Aadhaar Card
- Passport / Voter ID
- Ration Card
- State-issued Driving Licence
- Bank Account Statement
- Electricity or Gas Bill
Upstox account opening charges
|Upstox Account Opening||Free|
|Upstox Trading Account Opening||₹20 per order or 0.05% (whichever is lower)|
|Upstox Demat Account Opening||Free|
|Upstox AMC Charges for Demat||Rs. 25 (excluding GST)|
|DP Charges in upstox||₹25 (₹5 by CDSL and ₹20 by Upstox) plus 18% GST|
Upstox Brokerage Charges
Following are the charges levied by upstox:
|Equity Delivery||Rs 20 per executed order or 2.5% whichever is low|
|Equity Intraday||Rs 20 per executed order or 0.05% whichever is lower|
|Equity Future||Rs 20 per executed order or 0.05% whichever is lower|
|Equity Options||Rs 20 per executed order|
|Currency Futures||Rs 20 per executed order or 0.05% whichever is lower|
|Currency Options||Rs 20 per executed order|
|Commodity Futures||Rs 20 per executed order or 0.05% whichever is lower|
|Commodity Options||Rs 20 per executed order|
Upstox Transaction Charges
Transaction fee is charged whenever you make a trade, basically it is levied on every trade you execute on the online trading platform.
|Equity Delivery||NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side)|
|Equity Intraday||NSE Rs 345 per Cr (0.00345%) | BSE Rs 300 per Cr (0.003%) (each side)|
|Equity Future||NSE Rs 200 per Cr (0.002%)|
|Equity Options||NSE Rs 5300 per Cr (0.053%) (on premium)|
|Currency Futures||NSE Rs 130 per Cr (0.0013%) | BSE Rs 26 per Cr (0.00026%)|
|Currency Options||NSE Rs 2900 per Cr (0.029%) | BSE Rs 2600 per Cr (0.026%) (on premium)|
|Commodity||Group A – Rs 290 per Cr (0.0029%)|
Upstox Other Charges
|Call & Trade||Rs 20 per trade|
|Stamp Duty *||–|
|DP Charges (on sell side)||₹13 plus ₹5.50 (CDSL charges) per script.|
|Other Miscellaneous Charges||Auto Square-off Charges: Rs 50|
Upstox Trading Platforms
Upstox Pro App
With the Upstox Pro app, you can trade stocks, futures & options, commodities, and currencies all from one convenient mobile device.
For iOS and Android smartphones, the app is accessible on the App Store and Play Store. It offers features like real-time technical charting, historical data, and many other things such as:
- Multiple exchange trading on the BSE, NSE, and MCX.
- Market watchlists for the Nifty 50 and other important indices.
- To make orders directly on the chart, use the trade from the chart function.
- The multi-view chart function allows you to view four distinct types of charts on a single screen.
- Fund transfer and withdrawal are simple and painless.
- Make advanced orders such as a bracket order (BO) or a cover order (CO).
Upstox Developer API
A collection of REST APIs called Upstox API allows developers to design their own trading and investment portfolios.
You must have some programming or coding experience to construct a front-end app on the Upstox Developer Console in order to use the Upstox API.
Upstox Algo Lab
Algo Lab, often known as Amibroker Bridge, is intended for traders who use Amibroker AFL to construct trading strategies.
Traders can use the Amibroker AFL together with the Upstox Pro platform to place trades directly from Amibroker. Customers can see, place, and edit orders from Amibroker through the Upstox Pro web and app.
Upstox also offers a number of third-party trading platforms, which are detailed below:
- Dartstock: An alliance with iDarts makes Dartstock possible. This trading software can be downloaded and comes with a scrip analyzer, trend scanners, and charting tools, among other things.
- Nest Trader: Desktop trading software from Thomson Reuters with a plethora of charting capabilities, over sixty technical indicators, improved order placement, and more.
- Fox Trader: This third-party Algo trading tool includes back testing, multiple charting, technical indicators, and more.
Upstox Margin Exposure
|Equity Delivery||1x (100% of trade value)|
|Equity Intraday||5x (Up to 20% of trade value)|
|Equity F&O||1x (100% of NRML margin (Span + Exposure)|
|Currency F&O||1x (100% of NRML margin (Span + Exposure)|
|Commodity F&O||1x (100% of NRML margin (Span + Exposure)|
Upstox has made a name for itself in the online brokerage market by providing reasonable brokerage fees, intuitive platforms, and cutting-edge features. The website serves a wide range of users, including active traders and long-term investors.
Although Upstox succeeds in some areas, like offering 0% brokerage for equity delivery, consumers should be aware of the reported problems with customer care and occasional technological difficulties.
The selection of a trading platform ultimately comes down to personal tastes, trade preferences, and particular needs.
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|Disclaimer: The sole purpose of our financial articles is to provide you with educational and informative content. The content in these articles does not intend any investment, financial, legal, tax, or any other advice. It should not be used as a substitute for professional advice or assistance.|