Today in this Upstox review post I will be showing you all the highs and lows of using this trading platform. I am writing this review after using Upstox for 3 months and what you can expect from this post is an unbiased Upstox trading platform review.
Upstox formerly known as RKSV securities backed by Mr.Ratan Tata is considered one the best discount brokers in India. More than 1 million traders use this trading platform and everyday trades worth more than ₹1L crores are being executed on that platform.
Loaded with tons of trading tools, indicators and two advanced charting platforms; ChartIQ and TradingView, are luring many new customers and helping its clients make profitable trades.
But everything pertaining to Upstox trading platform is not in the favor of traders for instance just like all other discount brokers they need to improve their customer support and their mobile app needs major improvements.
Let’s start this Upstox review and find out whether this trading platform is worth trading?
Watch this Upstox review video, I have discussed each and every aspect in detail including Upstox charges, brokerage, and trading platform.
After watching this review, you would hardly left with any unanswered question. If by any chance, you have a question pertaining to Upstox account then feel free to ask in the given comment box.
- Reasonable brokerage
- Advanced charting platforms: ChartIQ and Tradingview
- Advanced indicators and tools
- Set stock price alerts
Behind the Company
The company was started in 2011 with name RKSV Securities by founders Ravi Kumar, Raghu Kumar and Shrinivas Viswanath. RKSV Securities was founded with a vision to provide an easy on pocket cutting-edge trading platform to citizens of India so they can easily start trading and investment in stocks.
As the name RKSV suggests, it was created out of the first and last names of its founders. Everything was going great and a time came when founders realized they needed to change its company name and finally in 2016 RKSV became Upstox, a more fancy and relevant name.
Special Upstox Offer: FREE Equity Delivery Trading + Flat ₹20 per order for Intra-day and F&O + Beginner’s stock market worth ₹999 + Unlimited Brokerage Credit with 30 days validity + StockEdge Premium quarterly membership and more.
Upstox Trading Platform Review
Upstox trading platform is growing by leaps and bounds just because of its user-friendly trading platform, advanced trading tools and indicators. The Upstox account interface is quite nice.
They tried to provide easy accessibility to all the features we need while executing trades and tracking the same.
But new traders may find its dashboard somewhat advanced and they may struggle to understand what is going on. One thing I can assure is after you become used to its options and features, you will realize that it is worth the trouble to understand such an advanced trading platform.
Upstox trading platform is considered one of the best trading platforms in India especially web-based. I personally too liked its Upstox web-based trading platform; in fact I gradually moving to it.
But when I see the Upstox mobile app, it disappoints me. The app is not as advanced as Upstox web-trading platform. Though the Upstox app has everything you need to trade even you can access options chain directly from the app but it requires upgradation. They need to work on it and make major improvements.
For traders who only trade using laptop or computer, Upstox is recommended strongly.
If you’re an advanced trader and well aware of Algo trading and use it to make your strategies then for your knowledge you can integrate many Algo trading platforms for example Amiborker to execute your trades.
Upstox brokerage charges are not just like other discount brokers. Upstox has two brokerage plans: Priority Basis and Basic.
In priority plan, you pay ₹30/per executed order brokerage and get 27x margin. Delivery orders will be free from brokerage.
For Basic plan, you pay flat ₹20/per order brokerage and get 20x margin. No brokerage for delivery orders.
Along with that you will also be required to pay Upstox account opening charges; ₹249 for Basic Plan and ₹999 for Priority Pack.
For delivery trades, clients won’t pay any brokerage. Yes, if you buy and hold a stock for a long then you will not be paying ₹20 brokerage, other charges and taxes levied by the government will be applicable.
Personally I recommend Basic ₹249 Upstox Plan to new traders. And for your information, Priority Pack is designed for Intraday traders who seek more leverage against their capital.
Upstox margin goes as high as 15x which is astonishingly way too high. New traders must stay away from leverage in early days because high leverage means high risk and only a single trade can wipe out your entire capital.
Just in case, you are the one who have good trading experience and is looking for a platform to get maximum leverage then Upstox account with Priority Plan is for you.
With Upstox Basic ₹249 Plan, you get:
- Free Equity Delivery Trades
- Flat ₹20 brokerage per executed order
- Up to 15x margin
- Beginner’s course on stock markets at Elearnmarkets worth ₹999
- Unlimited Brokerage Credit with 30 days validity
- StockEdge Premium quarterly membership
Upstox Brokerage Charges
|Upstox Charges||For Delivery Orders||For Equity, F&O, Commodities|
|Brokerage||0 (Zero)||₹20 (₹30 in case of Priority Plan)|
|Transaction Charges||0.00325% per trade on buy & sell. (May vary)||0.00325% to 0.05 excluding clearing charges|
|STT/CTT||0.1% For Buy and Sell Orders||0.025%, 0.1%, 0.1% respectively applicable on only Sell Orders|
|Demat transaction charges||Rs. 18.5 per scrip per day only on sell.||NIL|
|Stamp Charges||Varies state-to-state||Varies state-to-state|
Confused? Couldn’t understand how much exactly you would be paying for trading?
If you’re a new trader then you might be curious to know how much exactly your would be paying to complete a trade. Then for your information, to complete a trading, you would need to pay ₹40 brokerage plus above mentioned taxes which are not more than 25 in most small traders. So in total you will pay only ₹55-₹75 brokerage including all taxes.
Note: Mentioned example is just to show you how much exactly a trade costs, actual cost will be different depending upon your trade size. I just discussed this because many new traders don’t start trading after seeing so many charges discussed above; I too was very confused in the beginning.
Annual Maintenance Charges
Upstox charges fair annual maintenance charges. For Basic plan, you pay ₹300 Upstox annual maintenance charges excluding GST. And with GST, you pay around ₹350.
Unlike other discount brokers, Upstox collects account maintenance charges on monthly basis. Every month ₹25 plus taxes will be deducted from your trading account.
It might be confusing for new traders but you won’t pay more on yearly basis you only pay ₹300 Upstox account maintenance charges.
Upstox Account Opening Process
Upstox account opening process is completely paperless and within 15 minutes you can complete the process. After successfully filling the application, your Upstox demat account will be opened in the next 24-45 working hours.
Special Offer: FREE Equity Delivery Trading + Flat ₹20 per order for Intra-day and F&O + Beginner’s stock market course by Elearnmarkets worth ₹999 + Unlimited Brokerage Credit with 30 days validity + StockEdge Premium quarterly membership and more.
By clicking on the link you can start your account opening process and you will be on board within the next 48 hours.
Watch this step-by-step video on Upstox demat account opening.
If you’re going to open your Demat account with a discount broker then don’t expect high quality customer support. It does not matter whether it is Upsotx or other discount broker, you cannot get satisfactory customer support in busy hours or in mass level technical glitch.
Here it’s worth mentioning that in today’s world, trading platforms have become completely digital and you hardly need to talk to their customer care agents to solve an issue.
Just like other discount brokers with limited manpower, Upstox needs to improve its customer support. Many clients complain that in bust hours, customer care agents and sometimes relationship managers do not respond.
By reading the given advantages of using Upstox account, you can make the right decision.
- Upstox charges flat₹20 brokerage for buy and sell orders in case of Basic plan. As of now, it is the lowest brokerage charged by all discount brokers.
- As discussed, their trading platform is very advanced and has all the leading tools and indicators to help time better entries and exits.
- Upstox annual maintenance charges are ₹300; which are quite reasonable.
- You can integrate Algo trading platform to your Upstox account.
- You can directly invest in mutual fund schemes without paying any brokerage.
- Upstox options chain is very handy and easy to access right from the dashboard.
- Priority plan gives high margins for trading in large quantities.
- Upstox offers significantly high margins up to 27x against your capital and holdings.
- You can apply for IPO and FPO right from the Upstox dashboard. All the IPOs applications can be filled by going to the IPO section of the website.
- Clients can place a variety of orders such as Normal order during live markets, After market order (AMO), pre-market order, cover orders and the like.
- Upstox mobile trading platform is not up to the mark they need to improve its interface and functionality.
- Customer support is also need to improve.
- Instead of deducting ₹25 account maintenance charges on monthly basis, Upstox should deduct ₹300 on yearly basis.
- Account opening charges are unnecessary and they should stop charging them.
Frequently Asked Questions
Is Upstox trusted?
Yes, Upstox is a trusted SEBI Registered company with registration number INZ000185137 and one of the top 5 discount brokers in India.
Along with SEBI, Upstox is also an active member of following platforms:
- SEBI Registration No. INZ000185137
- NSE Member Code: 13942
- BSE Clrg Code: 6155
- CDSL: IN-DP-CDSL- 00282534
- NSDL: IN-DP-NSDL-11496819
- CDSL: IN-DP-CDSL- 00283831
- NSDL: IN-DP-NSDL-11497282
- RKSV Commodities MCX Member Code: 46510
- SEBI Regn. No. INZ000015837
- RKSV Securities CIN number : U74900DL2009PTC189166
- RKSV Commodities CIN number: U74110DL2012PTC236371
For any complaints, email at email@example.com and firstname.lastname@example.org.
Is Upstox SEBI registered?
Upstox is registered with the Securities and Exchange Board of India (SEBI) with registration number INZ000185137.
Is Upstox demat account free?
No, you will be required to pay ₹300 as Upstox annual maintenance charges. These charges will be deducted from your trading account on monthly basis, ₹25 per month.
Along with that you will be required to choose one of their brokerage plans: Basic and Priority. Basic plan costs ₹249.
Does Upstox charge monthly?
Yes, Upstox deducts account maintenance charges on monthly basis. Every month ₹25 excluding GST will be deducted from your trading account.
How much does Upstox charge per trade?
For intraday trades you pay ₹20 per executed order. Delivery trades are free of brokerage which means you will not be paying ₹20 for buying and selling but other taxes and charges applicable by the government will be charged accordingly.