Upstox Review (March 2024)

This is a super In-depth review of Upstox.

In this Upstox review, I will break it down to date.

• Overview
• Account Opening and Maintenance Charges
• Brokerage Charges
• Account Opening
• Trading Platform
• Upstox Pors & Cons

Let’s get started.

Upstox Review: Summary

	Upstox
Type	Discount Broker
Year Founded	2009
Headquarters	Mumbai, India
Overall Rating	4.5 out of 5
Brokerage Charges for Equity Intraday, F&O, Commodity and Currency	Rs 20 or .03%, whichever is lower
Maximum Brokerage per Executable Order	Rs 20
Zero Brokerage on Equity Delivery Trading	No
Presence in Branches	More than 100 branches
Mobile Trading App	Available
Number of Features	24+
Ranking	2nd

Upstox Overview

Upstox started as RKSV in 2009 and is a SEBI-registered online discount broker. The platform offers various trading and investment products such as Stocks, IPOs, Mutual Funds, and F&O. Upstox always had the advantage of having big investors like Ratan Tata and Tiger Global. Furthermore, the platform comes with excellent trading applications and customer support.

Upstox Charges

Here are the details of the Upstox Charges.

Account Opening Charges & AMC

You can open an Upstox demat account in a paperless way without needing to pay any account opening fee. Besides, unlike other trading platforms, the platform doesn’t even charge an AMC. It gives Upstox an edge over leading online brokers like Zerodha or Angel One.

Brokerage Charges

Upstox charges brokerage fees on your trades, which differ from segment to segment. Here are the Brokerage charges of Upstox:

• ₹20 or 2.5% (whichever is lower) per order on stocks on Equity Delivery
• ₹0 brokerage Charges on Mutual Funds
• ₹20 or 0.05% (whichever is lower) on Equity Intraday, F&O, Currency, and Commodity

Upstox Account Opening

Opening an account with Upstox is ridiculously simple, and you can Open a Demat account in about 15 minutes by following this step-by-step guide:

• To begin, you must visit the Upstox official website and click on Create Account
• Next, you will need to enter your mobile number and complete the mobile OTP verification
• Next, you will need to create a 6-Digit PIN, and you must note it down in a safe place since you will need it later
• After that, you must complete your Email account OTP verification
• Next, you will need to fill in some Document details like PAN card number, date of birth, gender, annual income, and trading experience.
• On the same page, you will find an option to activate the F&O segment, and you can activate it if you want the F&O segment
• Besides, you will have to accept the Taxpayer Declaration on the same page
• Once done with this, you will need to Digitally sign your Document by signing in the box provided
• Next, you will need to complete the KYC through DigiLocker Aadhaar OTP verification
• After that, you will need to complete your In-Person-Verification by taking your selfie and uploading it to Upstox
• In the next step, you will need to link your Bank Account to your Upstox account
• After that, you have the option to select your account type, and you can choose the Upstox limited-time account
• Next, you must upload your six-month bank statement to activate the F&O segment
• After that, you will have the option to add a nominee, which you can add later
• In the last step, you will be redirected to the NSDL eSign page, wherein you need to eSign your Document through your Aadhaar card OTP verification

Upstox Trading Applications

Upstox offers users advanced trading tools comprising advanced charting tools, ready-made Options strategies, an Option Chain tool, Upstox Bridge for Amibroker, Sensibull Integration, and GTT order. Upstox has fast and secure applications across mobile and the web.

Upstox Web app (Upstox Pro)

Upstox Web app is ideal for those who want to trade from their PCs or laptops. The web app has all the essential features for trading and investment. The app also allows users to choose between Tradingview and ChartIQ charting tools. I have used the app in the past, and the app works flawlessly.

Upstox Mobile app (Upstox Pro)

Upstox Mobile app can be customized for trading, as well as for Mutual Fund investments. The application comes with all the comprehensive features for trading and investment. These features include advanced charting tools (Tradingview and ChartIQ), multiple indicators, multiple timeframes, multiple layouts, and different order types. I have used the app, and from my experience, I can say that the app is exceptionally fast and easy to use.

Pros and Cons of Using Upstox

Upstox Pros

• No Account Opening fee and No AMC
• Leverage trading is available
• Ready-made Options strategies
• Sensibull Integration
• Advanced order types like GTT
• Tradingview and ChartIQ charting tool
• Best-in-class customer support through live chat, phone, and email

Upstox Cons

• Charges brokerage on Equity Delivery
• P&L reporting needs to get better

Conclusion

I have explained the various aspects of Upstox review to give you clarity on Upstox. As you have seen in this post, Upstox is a reliable trading and investment platform with excellent trading applications and support. Besides, the platform has the lowest charges among all online brokers. However, the P&L reporting of the platform needs to get better. Overall, Upstox is one of the finest online trading platforms in India and is currently, the most reliable trading platform.

Here is the Upstox Compared with other Brokers:

Zerodha vs Upstox	Upstox vs Groww
Angel One vs Upstox	Fyers vs Upstox
Zerodha vs Groww vs Upstox	Dhan vs Upstox
Zerodha vs Upstox vs Angel One

FAQs Upstox Review

What is Upstox, and what services does it offer?

Upstox is a popular online discount brokerage platform that provides various financial services, including trading accounts, demat accounts, and access to different trading platforms.

Is Upstox trusted?

Upstox is undoubtedly one of the most trusted Online brokers in India. In fact, Upstox is ranked right after Zerodha in terms of reliability. Besides, the platform is SEBI-registered and hasn’t had any major technical issues. Furthermore, the platform has excellent trading applications and customer support.

What is the disadvantage of Upstox?

Even though Upstox has more advantages, the only disadvantage it has compared to other trading platforms is that it charges brokerage fees on Equity Delivery, while Equity Delivery is brokerage-free on other leading trading platforms like Zerodha or Angel One.

Is Upstox good for beginners?

Upstox is undoubtedly an excellent Online broker for Beginners since it offers an easy-to-use and secure interface. Even if you are an absolute beginner, getting the hang of the platform shouldn’t take long since everything is self-explanatory.

Is Upstox better than Zerodha?

Even though Zerodha is the first choice of most traders, Upstox has a leading edge over Zerodha in some places. For example, Upstox doesn’t charge any account opening fee, but they charge for AMC lower than Zerodha. Besides, Upstox comes with excellent trading applications and support.

Is Upstox costly?

Upstox is not costly at all; in fact, Upstox has the lowest charges compared to other leading online brokers. The platform doesn’t charge any account opening fee. Besides, it has minimal brokerage charges for all segments.

How can I open a trading account and demat account with Upstox?

To open demat account and trading account with Upstox, you can visit their website and follow the account opening process. The account opening charges and details can be found on their website.

What is Upstox Pro Web, and how does it enhance the trading experience?

Upstox Pro Web is a web-based trading platform offered by Upstox, providing a user-friendly interface with advanced features for efficient trading.

Does Upstox offer any special offers or promotions?

Yes, Upstox occasionally offers special offers and promotions to its clients. You can check their website or contact customer support for any ongoing offers.

What are the brokerage charges and transaction charges for trading with Upstox?

The brokerage charges and transaction charges for trading with Upstox may vary based on the type of trades and services availed. It’s advisable to check their website for detailed brokerage information.

What is Upstox Pro Mobile, and how can I access it?

Upstox Pro Mobile is a mobile trading app provided by Upstox, allowing users to trade on the go and access real-time market data.

Can I trade in currency futures and options through Upstox?

Yes, Upstox provides facilities for trading in currency futures and currency option, allowing investors to participate in currency market movements.

Does Upstox provide technical analysis support?

Yes, Upstox offers technical analysis tools and features to help traders analyze market trends and make informed investment decisions.

What are the account opening charges for Upstox?

The account opening charges for Upstox may vary based on the type of account and plan chosen. You can find the relevant details on their website.

How does Upstox ensure the security of its platform and client information?

Upstox employs robust security measures and encryption protocols to safeguard client information and ensure a secure trading environment. Client information is treated with utmost confidentiality and is not shared with third parties without consent.