Upstox Brokers Review
- Upstox offers free trading to its customers, meaning customers are free from brokerage charge while trading in equity delivery.
- It provides mobile trading apps on both Android and iOS devices, making it easier for its customers to operate.
- It has launched an option chain tool to help customers measure volatility, compare prices, get details on market depth and much more.
- Upstox provides a web platform where users can manage and supervise their portfolio.
- Margin against shares is provided.
- No option available to invest in IPOs, FPOs or mutual funds.
- Additional Rs.20 charged for call and trade.
- Margin funding is not available on delivery segments.
- 24/7 customer service is not provided.
UPSTOX ACCOUNT OPENING CHARGES
|One time online trading account opening charges||Rs 150 (EQ and F&O) Rs 150 (MCX)|
|Trading annual maintenance charges||Rs 0|
|One time online demat account opening charges||Rs 0|
|Demat annual maintenance charges||Rs 150|
UPSTOX BROKERAGE CHARGES
|Equity Delivery||Rs 0|
|Equity Intraday||Rs 20 per trade or 0.01%, considered whichever is lower|
|Equity Futures||Rs 20 per trade or 0.01%, considered whichever is lower|
|Equity Optons||Rs 20 per trade or 0.01%, considered whichever is lower|
|Currency Futures||Rs 20 per trade or 0.01%, considered whichever is lower|
|Currency Options||Rs 20 per trade or 0.01%, considered whichever is lower|
Brokerage Plan- Priority
|Equity Delivery||Rs 0|
|Equity Intraday||Rs 30 per trade or 0.05%, considered whichever is lower|
|Equity Futures||Rs 30 per trade or 0.05%, considered whichever is lower|
|Equity Options||Rs 30 per trade or 0.05%, considered whichever is lower|
|Currency Futures||Rs 30 per trade or 0.05%, considered whichever is lower|
|Currency Options||Rs 30 per trade or 0.05%, considered whichever is lower|
UPSTOX TRANSACTION CHARGES
|Equity Delivery||NSE Rs 325 | BSE Rs 275|
|Equity Intraday||NSE Rs 325 | BSE Rs 275|
|Equity Futures||NSE Rs 210|
|Equity Optons||NSE Rs 5500|
|Currency Futures||Rs 150|
|Currency Options||Rs 600|
|Commodity||MCX Rs 260 per crore|
LEVERAGE OFFERED BY UPSTOX
|Index option sell||4x|
|Stock option sell||4x|
Upstox is a low-cost broker firm in India, launched in January 2012. It provides trading services at discounted prices. Upstox offers traders the opportunities to trade in equities, commodities, currency, futures, and options through its trading web platform and mobile app. Upstox makes a turnover of INR 7000 crore daily.
Upstox aims at making investing or trading trouble free for its customers by providing magnificent features such as analysing, charts and much more through the mobile app and web-based browser, from where an order can also be placed.
It offers free of cost trading account and free trading in Equity delivery segments. Upstox is a member at NSE, BSE, MCX, and MCX-SX and customers can invest in the following:
- Futures Trading
- Options Trading
- Currency Trading
- Commodity Trading
- NRI Trading
Upstox is backed by some investors including Ratan Tata, Kalaari capital and GVK Davix.
Upstox has its own trading platform that provide trading, advanced charts, analysis and much more features. Upstox make it easier for customers to trade by providing both mobile and web based platforms. Upstox trading platform is developed on Omnisys NEST OMS (Order management system) and Omnisys NEST RMS (Risk management system).
Upstox provides free trading to its customers in Equity delivery segment and free trading account. Upstox provides a paid service, that is, Upstox pro, from where traders can trade in Equity F&O, Equity Intraday, commodities and currency derivatives.
- Social media
However, there can be more communication channels added to provide services to its clients on time such as web chat or toll-free numbers.
The customer care service provided by the discount broker seems to be average and is not up to the desired mark. Upstox lacks in providing good customer service because:
- High turnaround time
- No toll-free number provided
- Long waiting periods while calling your stockbroker
Upstox also provides a web support portal on their website that provides detailed information on various areas such as Account opening, trading platforms, trading account etc. Hence, through this portal users can gather general information about key areas.
If you want to call Upstox customer care, the timings are 8am to 7pm during weekdays and between 10am to 2pm on Saturdays. The call support is not active on Sundays.The email turnaround time lies between 1 hour and 2 days according to the severity of the problem.
UPSTOX PRO WEB
Upstox pro web is a browser-based application launched by upstox. There is no need to download or install this application and users can get access to trading through this application on any screen such as a laptop, mobile or tablet.
Upstox pro web possesses highly advanced features such as API integration with third-party applications, advanced charts, algo trading and much more that enable users to carry on their analysis and understanding of the market in a proper way, gaining insights into a market in depth.
This also provides an interactive user interface through the use of HTML 5. Also, this application is lightweight and the broker ensures regular updates so that new features and advancements are introduced frequently.
UPSTOX PRO MOBILE APP
Users can add funds from bank accounts to trading accounts by clicking on add funds option. Users are allowed to transfer funds from 25 banks.
NEST TRADING PLATFORM
Multi Monitor Support
Advance order types
HOW TO OPEN AN ACCOUNT
After getting done with these steps, your demat account will be created.