Upstox is considered one of the best discount brokers that offers you low brokerage, better profits, and trading platforms. They are constantly improving and upgrading its platform to better suit the traders’ needs, making it the most sought-after web-based trading app on the market today.
Since trading is a tricky business, it’s essential to have a trustworthy company to rely on and to educate yourself more on the same. Therefore, this Upstox review solely focuses on helping you make a wise decision.
Why choose Upstox?
One of the primary reasons to choose Upstox is that it’s affordable and profitable. Funded by Ratan Tata, Kalaari Capital, and GVK Davix makes it a reliable platform in India. As we said, it’s cheap as you only need to pay Rs. 20 per trade. There’s no limitation regarding the trade volume; the price remains the same.
Pros
- One of the first company to start discount broking
- Supported by people like Ratan Tata
- Transfer of funds with 40+ banks
- No delivery trades brokerage
- Zero Demat account opening charges
- Completely online work; no paperwork
- Save 90% on brokerage charges
- Fixed brokerage despite trade volume
Annual Charges of Upstox
| Demat and Opening Account Charges | Rs. 299 |
| Maintenance charges | Rs. 25 per month |
Brokerage Charges
| Type | Brokerage |
| Equity Delivery | Rs. 0 |
| Equity Intraday | Rs. 20 per trade or 0.05%, whichever is lower |
| Equity Options | Rs. 20 per trade or 0.05%, whichever is lower |
| Equity Futures | Rs. 20 per order |
| Currency Futures and Options | Futures: Rs. 20 per trade or 0.05%, whichever is lowerOptions: Rs. 20 per order |
| Commodity F&O | Futures: Rs. 20 per trade or 0.05%, whichever is lowerOptions: Rs. 20 per order |
Upstox doesn’t charge brokerage for stock delivery, plus call and trade service is also for Rs. 20 for every trade
3-in-1 Upstox Account
Demat, Trading, and Saving account together create the 3-in-1 account offered by Upstox in collaboration with Indusind bank. Since the savings account would be a zero balance account; therefore, the money you invest in the trade would earn you interest. Furthermore, the 200 rupees you spend on debit transactions would make you 6x reward points.
Pros
- Rs. 1000 worth of brokerage credit
- A minimum balance is not required
- You can customize your bank account number
Other Upstox Products
Priority Pack Plan
This product is especially for those intraday traders looking for high trade margins. A few abbreviations that you should be aware of are –
- CO – Closing Offset
- OCO – One Cancels the other Order
- BO – Bracket Order
- F&O – Future and Options
- CDS – Credit Default Swap
Pros
- If you option buy with CO/OCO/BO, you will receive 2x Intraday leverage
- Index futures with CO/OCO/BO offers you 28x leverage
- Stock futures provide 6x leverage
- Unlike the basic plan, Intraday cash leverage offers 27x
Upstox Priority v/s Basic Plan
| Upstox Priority | Upstox Basic | |
| Brokerage | Rs. 30 per trade | Rs. 20 per trade |
| Extra charges for Equity, FO and currency | Rs. 999/month | 0 |
| Extra commodity charges | Rs. 499/month | 0 |
Features of Demat and Trading Account
1. Low Brokerage Charges
As mentioned earlier, Upstox requires Rs. 20 per trade according to the ‘basic plan’, which eventually leads to more transactions. For those who are more experienced and wish for higher margins, you could go for the ‘priority plan’ instead. There’s not much difference in the cost of the two plans. The priority plan costs Rs. 30 per trade, which is still better than other brokers.
2. Better Trading Margins
Upstox provides a 15x margin on Intraday if you choose the ‘basic plan’, whereas it offers a 20x margin in the ‘priority plan.’ We’d again advise you to go ahead with the basic plan if you’re a beginner in the trading arena.
3. Low Annual and Account Opening Charges
Another lucrative feature of this company is the low annual charges of Rs. 299, along with Rs. 25/month as the maintenance charge.
4. Cons
Along with the good comes the bad, so our Upstox review would also address the cons of this brokerage platform.
- Call and Trade at Rs. 20/order
- Investment in IPO and FPO is not an option
- The delivery segment doesn’t support Good Till Cancelled (GTC) orders
Upstox Trading Platforms
Upstox consists of 3 trading platforms, and we’d discuss each in detail right here.
1. Upstox Pro Web
This browser-based platform allows you to understand the market and make in-depth analyses through its advanced features. Another exciting thing is the socket technology that Upstox uses, which provides real-time data of the market and helps you make wise decisions.
2. Upstox Nest Trader Desktop
With this platform, you can do multiple tasks, such as buying or selling shares, placing orders, and analysing the market in real-time. Its customizable interface is the cherry on top. This app is available for both iOS and Android users.
3. Upstox Pro Mobile App
This app offers similar features such as charting tools, market updates, and 100 technical indicators for better trading. It’s also available for Android and iOS customers.
Faqs
No, Upstox doesn’t charge monthly. It charges Rs. 20 per trade.
Upstox is a good platform for beginners, and those who are new to the trading arena can choose this brokerage company as it offers educational resources and market analysis.
Conclusion
This Upstox review was about the best brokerage platform for beginners and experienced traders. We touched upon all the pros and cons to help guide all the customers to arrive at a decision. Upstox offers numerous features, as mentioned above, and is worth trying. Its various trading platforms suit all the traders’ needs. If you compare this company with other brokers, you’d understand the difference and the perks of opening an account with them.