Paytm Money vs Upstox: Which is the Best Platform?
This is a Comparision of the Upstox and Groww.
In fact, I have been using this Demat account for more than two years.
In this post, I compare Upstox vs Groww in terms of:
- Account Opening and Maintenance Charges
- Trading Platform
- Brokerage Charges
- Customer Service
- Pros and Cons
Let’s get started.
Paytm Money vs Upstox: Summary
| Paytm Money | Upstox | |
|---|---|---|
| Type | Online Investment Platform | Discount Broker |
| Year Founded | 2017 | 2011 |
| Headquarters | Noida, India | Mumbai, India |
| Overall Rating | 4.2 out of 5 | 4.0 out of 5 |
| Brokerage Charges for Equity Intraday, F&O, Commodity and Currency | Rs 15 per executed order or 0.05%, whichever is low | Rs 20 per executed order or 0.05% whichever is low |
| Maximum Brokerage per Executable Order | Rs 15 | Rs 20 |
| Zero Brokerage on Equity Delivery Trading | Yes | No |
| Presence in Branches | No branches | More than 100 branches |
| Mobile Trading App | Available | Available |
| Number of Features | 20+ | 24+ |
| Ranking | 10th | N/A |
Overview of Paytm Money and Upstox
If you are looking to invest in the Indian stock market, you might have come across two popular online brokers: Paytm Money and Upstox. Both platforms allow you to invest in equities, derivatives, and commodities. Here’s a brief overview of these two brokers to help you make an informed decision.
Paytm Money
Paytm Money is a subsidiary of Paytm, one of India’s leading digital payment platforms. It offers a user-friendly app that allows you to invest in stocks, mutual funds, and IPOs. Paytm Money is known for its low brokerage fees and no hidden charges. It charges a flat fee of Rs. 15 for all trades, regardless of the trade value. Additionally, it offers a range of tools and resources to help you make informed investment decisions.
One of the unique features of Paytm Money is its “Investment Packs.” These packs are designed to help new investors get started with their investment journey. Each pack contains a curated list of stocks or mutual funds based on a particular theme or goal, such as “Wealth Creation” or “Tax Saving.”
Upstox
Upstox is a popular discount broker in India that offers a range of investment options, including equities, derivatives, and commodities. It is known for its low brokerage fees and advanced trading tools. Upstox charges a flat fee of Rs. 20 per trade, regardless of the trade value. It also offers a range of trading platforms, including a mobile app, a web-based platform, and desktop trading software.
One of the unique features of Upstox is its “Pro” plan. This plan is designed for active traders who trade frequently and in large volumes. The Pro plan offers lower brokerage fees, priority customer support, and access to advanced trading tools.
Both Paytm Money and Upstox are excellent online brokers offering a range of investment options at low brokerage fees. The choice between these platforms ultimately depends on your investment goals and trading style.
Account Opening
Opening an account with a stockbroker is the first step toward investing in the stock market. Both Paytm Money and Upstox offer online account opening services for the convenience of their customers.
Here is a table that compares the account opening and maintenance charges for both Paytm Money and Upstox:
| Broker | Account Opening Charges | Demat Account AMC Charges | Trading Account AMC Charges |
|---|---|---|---|
| Paytm Money | Rs. 200 (for Trading account) Demat account free | Free | Rs. 300 |
| Upstox | Free | Rs. 150 | Rs. 0 |
As you can see, Paytm Money charges a nominal fee of Rs. 200 for Trading account opening, while Upstox offers free account opening. However, Upstox charges an annual maintenance fee of Rs. 150 for the Demat account, while Paytm Money offers a free Demat account.
Online Trading
Both Paytm Money and Upstox offer online trading facilities to their customers. With Paytm Money, you can invest in stocks, mutual funds, and IPOs. Upstox, on the other hand, offers investment options in Equity, F&O, Currency, and Commodities.
To open an account with Paytm Money, you need to complete the KYC process and provide your PAN card, Aadhaar card, and bank details. Similarly, to open an account with Upstox, you need to complete the KYC process and provide your Documents like PAN card, Aadhaar card, and bank details.
Both Paytm Money and Upstox offer easy and convenient ways to open an online trading account. It’s up to you to decide which broker suits your investment needs better.
Investment Options
When it comes to investment options, both Paytm Money and Upstox have a lot to offer. Paytm Money allows you to invest in mutual funds, stocks, IPOs, and ETFs. They have more than 10,000 mutual funds available for investment, making it easy for you to find the right one for your needs. Additionally, they offer mutual fund investment options with zero commission and zero transaction fees, making it a great choice for investors who want to keep their costs low.
On the other hand, Upstox offers investment options in equity, F&O, currency, and commodities. They also provide access to IPOs, allowing you to invest in new companies before they go public. With Upstox, you can also invest in mutual funds, but they have a smaller selection than Paytm Money. Upstox also offers a range of order types, including market orders, limit orders, and stop-loss orders, giving you greater control over your investments.
If you are an active trader, you may prefer Upstox as they offer a range of trading platforms, including a mobile app, a web-based platform, and a desktop application. This allows you to trade on the go and stay up-to-date with the latest market news and trends. Paytm Money also offers a mobile app, making investing and managing your portfolio from your smartphone easy.
Both Paytm Money and Upstox offer investors a good range of options. Whether you prefer to invest in mutual funds, IPOs, or stocks, both platforms have something to offer. Depending on your investment goals and trading style, you may prefer one platform over the other.
Brokerage and Charges
When it comes to brokerage and charges, it’s important to compare the fees of Upstox and Paytm Money to determine which one is more cost-effective for you. Here is a table that compares the brokerage and charges of both brokers:
| Brokerage and Charges | Upstox | Paytm Money |
|---|---|---|
| Trading Account Opening Charges | Rs 0 (Free) | Rs 200 |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Annual Maintenance Charges (AMC) | Rs 150 per year | Rs 0 (Free) |
| Equity Delivery | 2.5% or Rs 20, whichever is lower | Rs 15 per order |
| Equity Intraday | Rs 20 per order | Rs 15 per order |
| Equity Futures | Rs 20 per order | Rs 15 per order |
| Equity Options | Rs 20 per order | Rs 15 per order |
| Currency Futures | Rs 20 per order | N/A |
| Currency Options | Rs 20 per order | N/A |
| Commodity Futures | Rs 20 per order | N/A |
| Commodity Options | Rs 20 per order | N/A |
| Minimum Brokerage | 0.05% of turnover or Rs 20 (whichever is lower) | 0.05% of turnover or Rs 15 (whichever is lower) |
| Other Charges | Transaction Charges, STT, SEBI Charges, Stamp Duty, and GST | Transaction Charges, STT, SEBI Charges, Stamp Duty, and GST |
As you can see, both brokers have their own unique fee structures. Upstox has a Max Rs 20 Per Order Trading Plan, while Paytm Money has a Flat Brokerage Plan. Upstox charges a minimum brokerage of 0.05% of turnover or Rs 20 (whichever is lower), while Paytm Money charges a minimum brokerage of 0.05% of turnover or Rs 15 (whichever is lower).
It’s important to note that there are other charges involved with trading, such as transaction charges, STT, SEBI charges, stamp duty, and GST. These charges are applicable to both brokers and can add up to a significant amount over time.
Overall, it’s a good idea to compare the brokerage and charges of Upstox and Paytm Money to determine which is more cost-effective for you based on your trading needs.
Trading Platforms
When it comes to trading platforms, both Paytm Money and Upstox offer their clients a range of options to choose from. Let’s take a closer look at what each platform has to offer.
Paytm Money
Paytm Money offers a seamless online trading experience through its web and mobile platforms. The platform is user-friendly and easy to navigate, making it an excellent choice for beginners. The mobile app is available for both Android and iOS users and offers a range of features, such as real-time stock quotes, market news, and research reports.
Paytm Money also offers a unique feature called ‘Investment Packs’ that allows users to invest in pre-built portfolios of stocks and mutual funds. This feature is perfect for those new to investing who do not have the time or expertise to build their own portfolio.
Upstox
Upstox also offers an online trading platform that is available on both web and mobile. The platform is feature-rich and offers a range of tools and resources to help traders make informed decisions. The mobile app is available for both Android and iOS users and offers a range of features, such as real-time market data, advanced charting tools, and technical analysis.
Upstox also offers a desktop trading platform called ‘Pro Web’ designed for professional traders requiring advanced features such as multiple chart views, advanced order types, and more.
Trading Account
Both Paytm Money and Upstox offer a quick and easy account opening process. With Paytm Money, you can open a Trading account in just a few minutes by completing the KYC process online. Upstox also offers a similar process where you can complete the KYC process online and open a trading account within a few days.
Mobile App
Both Paytm Money and Upstox offer mobile apps that are available for both Android and iOS users. The mobile apps are feature-rich and offer a range of tools and resources to help traders make informed decisions on the go.
In conclusion, both Paytm Money and Upstox offer excellent trading platforms and tools to help traders make informed decisions. Both platforms offer something to offer, whether you are a beginner or a professional trader.
Product and Services
Regarding trading and investing, Paytm Money and Upstox offer their customers a range of products and services. Here’s a look at what each platform has to offer:
Paytm Money
Paytm Money is primarily a mutual fund investment platform. It allows you to invest in a variety of mutual funds from different fund houses, including equity, debt, and hybrid funds. You can also start a SIP (Systematic Investment Plan) and track your investments through the app.
In addition to mutual funds, Paytm Money also offers equity trading services. You can trade in equity delivery, intraday, futures, and options. The platform also provides trading services for currency futures and currency options.
Upstox
Upstox offers a range of products and services for trading and investing. You can trade in equity, currency, and commodities on the platform. The platform provides trading services for futures and options in all these segments.
Upstox also offers Intraday trading services for equity and commodities. You can trade in equity delivery, intraday, futures, and options. The platform also provides trading services for currency futures and currency options.
Comparison
When it comes to mutual fund investment, Paytm Money is the clear winner. It offers a wider range of funds from different fund houses, making it easier to diversify your portfolio. However, if you’re looking for trading services, Upstox might be a better option. It offers a wider range of products and services for trading, including commodities.
Both platforms have their strengths and weaknesses; the choice ultimately depends on your investment goals and preferences.
Research and Advisory
When it comes to research and advisory services, both Paytm Money and Upstox offer various tools and resources to assist you in making informed investment decisions.
Paytm Money
Paytm Money provides a range of research tools and services to its customers. These include:
- Smart Investment Ideas: Paytm Money offers a selection of curated investment ideas based on your investment profile and preferences. These ideas are generated by analyzing market trends and patterns and are updated on a regular basis.
- Research Reports: Paytm Money provides access to research reports from various sources, including leading brokerages and research firms. These reports cover a range of topics, including market trends, company analysis, and sector-specific insights.
- Daily Market Updates: Paytm Money provides daily market updates to its customers, including news and analysis on the latest market trends and developments.
Upstox
Upstox also offers a range of research and advisory services to its customers. These include:
- Technical and Fundamental Analysis: Upstox provides technical and fundamental analysis tools to help you make informed investment decisions. These tools include charts, indicators, and other analysis tools.
- Research Reports: Upstox provides access to research reports from various sources, including leading brokerages and research firms. These reports cover a range of topics, including market trends, company analysis, and sector-specific insights.
- Trading Ideas: Upstox provides its customers with a selection of trading ideas based on technical and fundamental analysis. These ideas are updated on a regular basis and are designed to help you identify potential investment opportunities.
Both Paytm Money and Upstox offer a range of research and advisory services to help you make informed investment decisions. Whether you’re a Beginner or an experienced investor, these tools and resources can be a valuable asset in your investment journey.
Customer Support
When it comes to customer support, both Paytm Money and Upstox offer multiple channels for you to get in touch with them.
Paytm Money
Paytm Money offers customer support through the following channels:
- Phone support: You can call Paytm Money’s customer support team at 0120-4770-440 from 9 am to 6 pm on weekdays.
- Email support: You can also email your queries to support@paytmmoney.com, and their team will get back to you within 24 hours.
- In-app chat support: If you have any queries while using the Paytm Money app, you can use the in-app chat support on their Website to get in touch with their team.
Upstox
Upstox offers customer support through the following channels:
- Phone support: You can call Upstox’s customer support team at 022-4179-2999 from 9 am to 11 pm on weekdays and from 10 am to 7 pm on weekends.
- Email support: You can also email your queries to support@upstox.com, and their team will get back to you within 24 hours.
- Live chat support: Upstox offers live chat support on their Website, which you can use to get in touch with their team.
Both Paytm Money and Upstox have a comprehensive FAQ section on their website, which covers the most common queries related to account opening, trading, and more.
Both Paytm Money and Upstox offer reliable customer support, and you can expect prompt resolution of your queries through any of the channels mentioned above.
Reviews and Ratings
When it comes to choosing between Paytm Money and Upstox, one of the most important factors to consider is the reviews and ratings. Here’s what people are saying about these two popular trading platforms:
Paytm Money
Paytm Money has received mixed reviews from users. Some users appreciate the user-friendly interface, while others have complained about the slow customer service. However, Paytm Money has an impressive rating of 4 out of 5 on various review platforms.
Upstox
Upstox has received generally positive reviews from users. Many users appreciate the low brokerage fees and the fast trading platform. However, some users have reported issues with the customer service. Upstox has a rating of 4.5 out of 5 on various review platforms.
Overall, both Paytm Money and Upstox have their strengths and weaknesses. It’s important to consider your own trading needs and preferences before choosing a platform.
Advantages and Disadvantages
When comparing Paytm Money and Upstox, it’s important to consider the advantages and disadvantages of each platform. Here are some things to keep in mind:
Advantages of Paytm Money
- Brand recognition: Paytm is a well-known brand in India, and many people feel comfortable using its products and services.
- Easy-to-use app: Paytm Money’s app is user-friendly and easy to navigate, making it a good option for beginners.
- No account opening fees: Paytm Money doesn’t charge any fees to open an account, which is a plus for people just starting to invest.
- Low brokerage fees: Paytm Money’s brokerage fees are among the lowest in the industry, making it an affordable option for investors.
Disadvantages of Paytm Money
- Limited investment options: Paytm Money only offers equity, F&O, and currency investments. If you’re looking to invest in commodities or other types of assets, you’ll need to look elsewhere.
- Limited research and analysis: Paytm Money doesn’t offer as much research and analysis as some other brokers, which could be a downside for more experienced investors.
- Limited customer support: Some users have reported issues with Paytm Money’s customer support, which can be frustrating if you need help with your account.
Advantages of Upstox
- Wide range of investment options: Upstox offers investment in equity, F&O, currency, and commodities, giving you more options for diversifying your portfolio.
- Advanced trading tools: Upstox’s trading platform is more advanced than Paytm Money’s, making it a good option for experienced traders.
- Low brokerage fees: Like Paytm Money, Upstox’s brokerage fees are among the lowest in the industry.
- Good customer support: Upstox has a reputation for providing good customer support, which can be a big plus if you run into any issues.
Disadvantages of Upstox
- No physical branches: Unlike some other brokers, Upstox doesn’t have any physical branches, which could be a downside if you prefer to do business in person.
- Inactivity fees: Upstox charges fees if your account is inactive for a certain period of time, which could be a downside if you’re not an active trader.
- Steep learning curve: Upstox’s trading platform can be complicated for beginners, so it may not be the best option if you’re new to investing.
Conclusion
In conclusion, both Paytm Money and Upstox are popular discount brokers in India. While both offer similar services, there are some differences that you should consider before choosing one over the other.
If you are looking for a broker with lower account opening charges, then Paytm Money may be the better choice as they charge Rs 200 compared to Upstox’s Rs 0. However, Upstox offers lower brokerage charges at a maximum of Rs 20 per trade compared to Paytm Money’s maximum of Rs 15 per trade.
When it comes to trading in currency futures and options, Paytm Money charges a percentage of turnover or a fixed amount, while Upstox charges a flat fee per trade. Depending on your trading volume, one of these options may be more cost-effective.
Both brokers offer trading platforms with advanced features and user-friendly interfaces. However, Upstox offers a mobile app with more advanced features, such as technical indicators and charting tools, while Paytm Money’s mobile app is more basic.
Regarding overall ratings, Upstox has a higher rating than Paytm Money. However, Paytm Money has a larger number of clients and branches.
Ultimately, the choice between Paytm Money and Upstox comes down to your personal preferences and trading needs. Consider your trading volume, account opening charges, brokerage charges, and the features you need in a trading platform before making a decision.
Frequently Asked Questions
Which is the better option between Paytm Money and Upstox?
Both Paytm Money and Upstox are registered with SEBI and offer trading in Equity, F&O, and Currency. However, the choice between the two depends on your individual preferences and requirements.
Can you compare the features of Paytm Money and Upstox?
Paytm Money offers investment in Equity, F&O, and Currency, while Upstox also offers trading in Commodities. Paytm Money has a higher number of mutual fund schemes available, while Upstox offers a wider range of trading platforms.
Is Upstox a cost-effective option compared to Paytm Money?
Both Paytm Money and Upstox are discount brokers, meaning they offer lower brokerage fees than full-service brokers. However, the fees charged by each broker may vary depending on the type of investment and transaction.
Which platform has a better user interface, Paytm Money or Upstox?
Both Paytm Money and Upstox offer user-friendly mobile and web-based trading platforms. However, each platform’s interface may differ, and it is recommended to try both platforms and choose the one that suits your needs.
Can you provide a comparison between the fees charged by Paytm Money and Upstox?
Paytm Money offers commission-free mutual fund investments and charges a flat fee of Rs. 15 per trade for Equity and F&O trades. Upstox charges a brokerage fee of Rs. 20 per trade or 0.05% of the turnover, whichever is lower, for Equity and F&O trades. It is important to note that other charges, such as transaction fees and taxes, may apply.
Are there any notable differences in the investment options available on Paytm Money and Upstox?
Paytm Money offers investment in mutual funds, Equity, F&O, and Currency. Upstox offers trading in Equity, F&O, Currency, and Commodities. Paytm Money has a higher number of mutual fund schemes available, while Upstox offers a wider range of trading platforms.
How does Upstox compare to Paytm Money?
Upstox and Paytm Money are both online trading platforms, but they have different features, fee structures, and offerings. Investors can compare them to find the one that best suits their needs.
What are the account opening charges for Paytm Money and Upstox?
The account opening charges for Paytm Money and Upstox may vary. It’s recommended to check their respective websites or contact customer support for the latest information.
What is the IPO GMP (Grey Market Premium) for upcoming IPOs?
The IPO GMP or Grey Market Premium is the difference between the IPO price and the price at which the shares are trading in the grey market before the IPO’s listing. It can vary for different IPOs and is subject to market demand and sentiment.
How does Paytm Money compare to Sharekhan?
Paytm Money and Sharekhan are different brokerage platforms with distinct features and services. Investors can compare their offerings, brokerage charges, and customer support to make an informed decision.
Keep in mind that these are just some of the frequently asked questions about Paytm Money and Upstox. It is important to do your own research and choose the broker that best fits your investment goals and preferences.
