Upstox is a discount Broker. In this post, we will discuss Demat and Trading Account opening Charges, Reviews and Brokerage Charges while opening an account with Upstox.
RKSV Securities known as Upstox is discount broking company and is very much different from full-service broking company. It is established in 2011, with an objective “to provide an easier trading platform and at a low brokerage”. The company changed its name to Upstox in 2016, aligned with its mission “to make cutting-edge trading software accessible to every citizen of India so that trading and investing in the stock markets is possible for all.” Upstox provides its services through online mode.
Discount Brokers provides service at very low rates of brokerage and does not provide the value added services like Investment advisory, Research report, Relationship management and other services.
- Low Pricing benefits
- Power of advanced charting, lightning fast market data
- The full bouquet of service is offered through its website
- Web and mobile-based share trading terminal
Product and services offered
- Equity Trading
- Derivatives Trading
- Demat Services
- NRI Trading
- Mutual Funds
- Tools and Calculators ( Brokerage, Margin, Options calculator)
Brokerage Plans and Charges
Account Opening charges and Annual Maintenance charges (AMC) for both Trading and Demat Account is NIL.
Upstox charges flat Rs. 20 brokerage/ trade from its customers irrespective of the volume. Brokerage for equity delivery is not charged from customers. Details of brokerage and margin by Upstox:
- Flat Rs 20/ trade brokerage
- Intraday leverage of 15x on equities for FNO listed scrips, 2x for scrips with 20% circuit limit, 3x on NSE F&O, 3x on BSE/NSE Currency F&O and 2.5x on MCX Futures
- Special Margins (Cover Order or Bracket Order): 20x on NSE/BSE Cash, up to 6x in NSE Futures, Up to 4x in Currency futures, up to 3x in MCX.
|Equity Intraday||Rs 325/ crore of turnover|
|Equity Delivery||Rs 325/ crore of turnover|
|Futures||Rs 190/ crore of turnover|
|Options||Rs 5000/ crore of turnover|
|Currency Futures||Rs 110/ crore of turnover|
|Currency Options||Rs 4000/ crore of turnover|
|MCX- Commodity||Rs 260/ crore of turnover|
Trading Platform offered by Upstox
Upstox provides three trading platforms to its customer:
Upstox Pro web: The platform can be accessed from the web browser. Some advanced features of the platform are Depth of book widget (to spot imbalances quickly and liquidity), Real-time margin, one click trade and keyboard shortcuts.
Upstox Pro mobile: The platform can be accessed from ios and android mobile devices. The features of the app like cross platform( accessed from multiple devices), auto reconnect, easy fund transfer, instant notification, and Real-time quotes makes it a great user interactive platform to trade from.
Nest Trading terminal: It is the desktop based trading software developed for high-value elite traders for advanced trading needs. Features of the platform are:
- Customizable Interference
- Low latency and enterprise level stability
- Multi-monitor support
- Advanced Charting
- Advanced order types
- Mouse and keyboard friendly
Process and Documentation Required
One can open his/her account through online mode.
The account opening process and verification takes around 10 minutes. One need to upload the scanned copies of Aadhaar Number, PAN Card and Cancelled Cheque or latest bank statement with IFSC/MICR code mentioned on it. For verification, you will receive an OTP online on the mobile number registered to your Aadhar card.
Those who are not comfortable with the online process for opening account, they can download forms and fill it and send it by courier.
- Flat brokerage rate of Rs 20/ trade and no brokerage charged for equity delivery trade
- One can open Demat and trading account in less than 10 minutes with digital KYC
- Advanced trading platforms
- Responsive customer support
- No unnecessary value added services being offered to client
- Doesn’t offer service for subscription in IPO
- No research reports are generated for clients
- Call and trade facility is charged Rs 20/ call
- No facility of Relationship Manger
|Features||Upstox||Zerodha||Angel Broking||Reliance Securities||Kotak Securities|
|Service Type||Discount Broker||Discount Broker||Full Service||Full Service||Full Service|
|Account Opening Cost||Nil||Rs 200 (couriered)|
Rs 100 (form printed)
|Nil||Rs 950||Rs 750|
|Brokerage||Flat Rs 20||Flat Rs 20||0.016- 0.4%||0.05-0.5%||0.05-0.5%|
|Margin ( Equity)||Intraday- upto 25 times|
|Intraday- 20 times|
|Intraday- 10 times|
Delivery- 3 times
|Intraday- 10 times|
Delivery- 4 times
|Intraday- 15 times
Delivery- 3 times
|Exchanges Enables||NSE, BSE, and MCX||NSE, BSE, MCX, and MCX-SX||NSE, BSE, MCX, NCDEX, NMCE and MCX-SX||NSE, BSE, MCX, NCDEX, NMCE and MCX-SX||NSE, BSE, MCX, NCDEX and MCX-SX|
Upstox referral program
Upstox has designed a referral program for its existing customer in which for every new account which has been referred by you will give you earning 10% brokerage for every trade of referrers. This helps in bringing down the cost for investors and as well as the company
Upstox is an online brokerage firm provides services at very competitive rate. Discount brokers are most suitable for frequent traders and investors with high trade amount who does their own research and analysis before investing.
One of the key aspects of trading with upstox is advanced trading platforms which host advanced features for stock analysis and is not chargeable. This type of brokerage is suitable for traders and investors who depends on their Relationship Manager for execution and advisory services.
Frequently asked questions About Upstox
Q. What are your account opening charges and is there any AMC attached to it?
A. There is no annual maintenance fee (AMC) for Upstox trading plan. An opening of account is free with Upstox and only valid Identity proof is required ( Aadhar, PAN card). With new E-KYC Aadhaar technology, you need to fill in details of Aadhar Card, PAN card and picture of your documents which needs to be uploaded.
Q. Do you provide any trading/stock tips and advisory?
A. Upstox does not provide any advisory service related to stock trading and investing strategies. In order keep cost low for the customers, Upstox only focuses on its core service offerings with top-notch customer service and platform stability.
Q. What type of accounts can a client open with Upstox?
A. Upstox only allows opening of an individual or an HUF account. As of now, company, corporate or partnership types of accounts are not allowed. Commodities Trading is only allowed to individual accounts only.
Q. How do I open an Upstox account?
A. Upstox provides multiple channels for the opening of an account. One can choose from online mode, through postage of documents and through executives assisting in completing the process.
Online: The easiest way to open an account is online. You have to visit new.upstox.com and fill in your details, including Aadhar card number and Pan Number. Verification of documents will be done on real-time. You need to upload proofs of your identity, address and earnings online and your account will be opened. For verification, you will receive an OTP online on the mobile number registered to your Aadhar card.
Courier: By sending courier of filled printout of forms and necessary documents to office address
Q. How much margin is available with Upstox?
A. Intraday margins are provided on Equities, Futures and Currency Futures segment. Upstox does not provide any margin for delivery based trade.