Upstox has risen to become one of India’s most popular discount brokers. To learn everything about Upstox, read our tradingcritique.com Review.
Table 1: Upstox Overview
Regulation: The Securities and Exchange Board of India (SEBI),
Account Types: Demat account, trading account, 3-in-1 Account, Commodity Trading account,Mutual Fund Account
Demo Account: NO
Islamic Account: NO
Market Instruments: Equity, Futures, Options, Currency, Commodity trading, and NRI trading
Trading platforms: Upstox Pro web, Upstox Nest Trading Software Platform, Upstox Pro Mobile App
Maximum Leverage: 15x
Customer Support 24/7: NO
Upstox Broker Review- An Intro
Upstox, formerly known as RKSV Securities, is India’s leading discount broker, suitable for traders seeking low commissions, big margins, and excellent trading platforms. It offers a variety of trading platforms to its customers, including stock, commodities, currencies, futures, options, and more.
Knowledge bites
Upstox is one of India’s greatest and cheapest brokers, particularly for traders. Upstox offers the quickest trading platforms, which are essential for making large gains in day trading. Regardless of your trading volume, you simply have to pay a flat fee of Rs 20 for each trade. Upstox just passed the ten-lakh-user milestone, making it India’s second-largest bargain broker.
Regulations & Trust ability Review of Upstox Broker
Upstox is a Mumbai-based discount broker with over 40,000 active customers. RKSV Securities was its previous name. RKSV Securities was renamed Upstox in 2016 to provide simple trading software at a low cost. Ravi Kumar and Shrini Viswanath created Upstox together. Ratan Tata, Kalaari Capital, and GVK Davix have invested in Uptstox, making it a secure and reputable brokerage for your investments. Upstox is an active member of the NSE, BSE, MCX, and MCX-SX. It does not, however, allow you to invest in IPOs, FPOs, bonds, or NCDs. Upstox is licensed by the Securities and Exchange Board of India (SEBI).
Table 2: Upstox Regulation details
| Entities name | Regulation | Headquarters |
|---|---|---|
| RKSV Securities | Securities and Exchange Board of India (SEBI) | Mumbai |
| Membership details | ||
| SEBI Reg | INZ000185137 | |
| NSDL | IN-DP-NSDL-11497282 | |
| CDSL | IN-DP-CDSL- 00283831 | |
Review on Awards won by Upstox Broker
Upstox won many awards, including:
Table 3: Upstox Awards details
| Awards of Upstox |
|---|
| Best innovation in wealth management in 2020 |
| Highest number of accounts in a single month by a broker in (2019, 2020) – Upstox Awards |
| Most promising broking house of the year by MCX in 2019 – Upstox Awards |
| Most promising broking house of the year by MCX in 2019 |
| Highest number of accounts in a single month by a broker in (2019, 2020) |
| Highest number of Demat accounts in a single month by CDSL in October 2021 |
Assets Review of Upstox Broker
Customers can choose from a variety of products and services offered by the discount broker. Let’s take a closer look at this.
Trading platforms Review of Upstox Broker
Upstox is well-known for providing some of the most technologically advanced trading platforms on the market. Upstox’s trading platforms are primarily in-house and include cutting-edge technology.
Upstox Pro web
Upstox Pro web is a web-based trading platform with extensive features like API connectivity, algo trading, charting, and technical indicators.
Upstox NEST Trader Desktop
NEST trader is a smart trading desktop program that allows you to watch markets, place orders, and buy and sell stocks in real-time. The application may be installed on either a desktop or a laptop computer.
Upstox Pro Mobile App
You may use charting tools and over 100 technical indicators to track your favorite scripts, indexes, and markets. Upstox Pro mobile trading platform is available for both Android and iOS devices.
Trading Plans Review of Upstox Broker
Upstox offers two types of plans to meet the needs of investors and traders:
Upstox Basic Plan
Basic trading features in the equities delivery sector are included in the basic plan. Equity delivery is free of charge, while Equity F&O costs 20 rupees per trade. It is available by phone and on the internet. In the cash sector, this type of basic strategy can produce up to 20x leverage.
Upstox Priority pack
The Upstox priority pack, also known as the Upstox pro pack, is designed for those who trade frequently. Those who engage in intraday and F&O segments are considered frequent traders. The fee for equity delivery is zero rupees, whereas the brokerage for equity F&O is thirty rupees per deal. In the cash sector, it can provide up to 25x leverage.
Trading Tools Review of Upstox Broker
Upstox Brokerage Calculator
Upstox has created a platform for all of its customers to compute their brokerage fees, profit loss, and transaction fees for GST, for example. Among the top ten brokerage calculators is the Upstox Brokerage Calculator. You may calculate your brokerage using the Upstox brokerage calculator to discover your net profit and loss.
Upstox API
Upstox is dedicated to offering the greatest developer experience possible. It can do all of the heavy lifting in the backend, allowing you to get up and running with only a few code lines.
Review on Types of Account of Upstox Broker
Upstox’s account opening process is completely paperless and hassle-free, requiring only your PAN, Aadhaar card, and eKYC. Upstox accounts may be created using the pro mobile app or the website. Upstox accounts may be created online in less than 10 minutes and are active within 24 hours.
Demat & Trading account
You may start online trading on the BSE, NSE, and MCX by creating a free Upstox Demat account with no account opening fees. Upstox Demat account is a single location where you may hold all of your securities and mutual funds. All purchase and sell orders are placed through the trading account, and also the securities will be transferred and credited to your Demat account using Upstox 2-in-1 (trading + Demat account).
3-in-1 Account
Upstox has partnered with IndusInd Bank to provide a 3-in-1 account opening service. Upstox 3-in-1 (Demat + Trading + IndusInd Bank A/c) is a single account that combines trading and investing with bank security and a simple money transfer procedure.
Commodity trading account
Upstox is a registered MCX member, and you must create a Upstox Commodity Trading account to begin commodity trading. On commodity futures trading, Upstox charges the lower of Rs. 20 per order or 0.05 percent, and flat or fixed Rs. 20 commission on commodity options trading.
Mutual Fund Account
If you have an Upstox trading and Demat account, you can invest in direct mutual funds for free without paying a commission. Customers may invest in direct mutual funds using the Upstox Pro App and Website.
Demo Account Review of Upstox Broker
A free demo account is not currently available from the broker. Customers can contact the customer service team for login information for the demo facility. Live market prices and data are available through the virtual account & demo platform, but simulated trading is not possible.
Fees & Commissions Review of Upstox Broker
Upstox is a discount broker with reduced trading costs across all asset classes. The following charges are included in the pricing model:
Table 4: Fees details on the Upstox website
| Account opening charges | ||
|---|---|---|
| Trading account | Rs 150 | |
| AMC for Demat account | Rs. 150 / annum | |
| AMC for Trading account | Free | |
| Transaction Charges | ||
| Currency Futures & Options | Futures & options –Rs. 20 / executed order | |
| Commodity Futures & Options | Futures & options –Rs. 20 / executed order | |
| Equity Options | Equity Options Rs. 20 / executed order | |
| Equity Futures | Rs. 20 / executed order | |
| Equity Intraday | Rs. 20 / executed order | |
| Equity Delivery | Rs. 0 | |
| Other Brokerage Charges | ||
| Minimum Brokerage Charges | Rs.20 | |
| Transaction Brokerage Charges | 0.00275% of Total Turnover | |
| SEBI Turnover Charges | 0.0002% of Total Turnover | |
| Stamp Duty Charges | As per the state | |
| GST Charges | 18% of (Brokerage + Transaction Charges | |
| STT Charges | 0.0126 % of selling value | |
| Call and Trade Charges | Rs. 20 / order | |
Funding & withdrawal methods Review of Upstox Broker
The Upstox Pro app allows you to withdraw money immediately. Withdrawals are refunded to your primary registered bank account automatically. Withdrawals are usually done within two business days of receiving the request. There are no withdrawal fees if you withdraw up to the amount accessible on your account. Upstox accepts the following payment options, each with different processing time and fees:
Table 5: payment methods on the Upstox website
| Payment method | Fees | Processing time |
|---|---|---|
| NEFT | Free | 3 – 4 hours |
| IMPS/RTGS | Free | 30 minutes |
| Cheque | Free | 3 – 5 working days |
| UPI Transfer | Free | 1 – 10 minutes |
| NetBanking | Rs. 7 / transfer | 1 – 10 minutes |
| Smart Fund Transfer | Deposit up to INR 5,000,000 for free in one transaction, with an endless transaction. | Instant |
Leverage Review of Upstox Broker
As seen in the table chart above, the broking house provides the most considerable leverage of up to 15x. This deal is only available for the Priority Plan.
Table 6: Leverage details of all assets on the Upstox website
| Leverage Ratio | |
|---|---|
| Commodity | Up to 7x |
| Currency Options | Up to 6x |
| Currency Futures | Up to 5x |
| Equity Options | Up to 8x |
| Equity Futures | Up to 7x |
| Equity Intraday | Up to 20x |
| Equity Delivery | Up to 5x |
Trading Hours Review of Upstox Broker
The following market hours apply to trading on Upstox:
Table 7: Trading hours of the Upstox website
| Segments | Trading Hours |
|---|---|
| MCX | From April to October, 10:00 to 23:30 IST, From November to March, 10:00 to 23:55 IST. Saturday market hours are 10:00 IST to 14:00 IST. |
| NSE Cash, BSE Cash, and NSE F&O | 09:15 to 15:30 IST |
| NSE Currency Derivatives | 09:00 to 17:00 IST |
Bonus Review of Upstox Broker
When you open a Upstox Demat account, you may use a Upstox Coupon Code to get free perks. It does not offer any attractive offers or bonuses to customers.
Education and Research Review of Upstox Broker
Upstox offers a special YouTube series called ‘Learn with Upstox’ that features free, easy-to-understand videos. These are appropriate for both beginner traders and professional traders wishing to improve their present investing strategies.
Rewards & Risk Review of Upstox Broker
Upstox has both advantages and disadvantages which are listed in Table 8.
Here is the table with “Pros” and “Cons” in the requested format:
 Pros |  Cons |
|---|---|
| They offer free morning market discussion newsletters. | Customers do not receive referrals or holiday incentives. |
| Each package comes with a free stock delivery brokerage. | Customers do not have access to an offline-online trade platform. |
| Traders have access to a wide range of technical indicators. | The priority plan has a cap on margin exposure. |
| Ratan Tata has invested in Upstox, giving the RKSV group a sense of trust and stability. | Customers must be cautious when choosing a mutual fund (direct & regular plans). |
| Every user on the basic plan must pay the higher Demat Transaction Charges. |
Customer Support Review of Upstox Broker
There is no provision for offline assistance. There are no branches of the broker where you can visit with your query. However, Upstox offers customer support by email, phone, social media, FAQ section, and web form. It also features an account opening service desk for both existing and new customers.
Table 9: Customer support numbers on the Upstox website
| Contact number | |
|---|---|
| New Accounts | Existing Users |
| 022 4179 2991, 022 6904 2291, 022 7130 9991 | 022 4179 2999, 022 6904 2299, 022 7130 9999 |
| new.account@upstox.com | support@upstox.com |
| Physical Address | |
| RKSV/Upstox, 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra 400013 | |
| Social media pages of Upstox | |
|---|---|
| https://www.facebook.com/upstox | |
| YouTube | https://www.youtube.com/user/rksvindia |
| https://twitter.com/upstox | |
| https://www.instagram.com/upstox.pro/ | |
| support@upstox.com | |
In a Nutshell
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