Upstox Review and Brokerage Information

Why Open Account with Upstox?
1 One of the first brokerage house to start discount broking in India
2 Good commitment in developing advanced trading platforms
3 Backed by likes of Mr.Ratan Tata
4 Zero Brokerage on Delivery trades
5 Zero Demat Account Opening Charges
6 Fund transfer with more than 40 banks
Disadvantages of Zerodha
1 Call and Trade is chargeble at Rs20 per trade
2 Good Till Cancelled (GTC) orders are not supported in Delivery segment
3 Investment in FPO and IPO are not possible

 

Upstox was formerly known as RKSV securities and I have an account with them.

In this Upstox review, I’m going to explain more about them. Like Zerodha they are one of the first few discount brokers who started their operations in India.

Related Read : Zerodha Review : Biggest stock Broker of India

About Upstox:

Upstox was founded by Raghu Kumar, Ravi Kumar and Shriniwas Vishwanath. Hence they named the company with first letter of their name as RKSV.

Since January 2012, they have grown considerably and they are the most popular discount broker in India after Zerodha. Presently they are doing a daily turnover of Rs7000.

What is to be noted is, Upstox is backed by most prominent investors like Mr Ratan Tata, Kalari Group and GVK Davix.

They have invested substantial amount in developing inhouse trading platform which I am explaining below.

Upstox Brokerage Charges

Upstox brokerage structure is pretty straight forward. They charge Rs20 per executed order for all the non-delivery based transaction.

For all investments (Delivery trades), the brokerage charges are ZERO.

It is on par with Zerodha who also provide the same brokerage structure.

 

Upstox Trading Brokerage Charges:

  • Equity delivery based trades : Rs Zero (FREE)
  • Equity Intraday trades : Rs 20 per executed order
  • Equity Future : Rs 20 per executed order
  • Equity Options : Rs 20 per executed order
  • Currency Futures and Options: Rs 20 per executed order
  • Commodity Futures : Rs 20 per executed order

Upstox Account Opening :

  • Trading account opening charges : Free
  • Demat Account opening charges : Free
  • Trading Annual Maintenance Charges : NIL
  • Demat Annual Maintenance Charges (AMC) : Nil for first year and Rs 150 from second year onwards

Upstox other charges:

  • Standard NSE Charges, Transaction charges and taxes are levied
  • Rs 20 is charged for call and trade (per call)
  • Rs 7 is charged per fund transfer

Upstox Mobile, Desktop and Web Trading Platforms

Upstox Pro Mobile App:

Mobile trading app of Upstox is called Upstox PRO and is one of the state of the art and advanced mobile trading apps available in India

Some of the salient features are

  • Universal search tool to find simple and complex stocks
  • Access to NSE cash, Futures and Options, and Currencies scrips
  • Cutting-edge charting tools that are above industry standards
  • Charts of multiple intervals, types and drawing styles
  • Apply 100+ technical indicators on real-time charts
  • Trade directly from charts with the Trade From Charts (TFC) feature
  • Set unlimited number of price alerts for instant updates
  • Create unlimited number of customized watchlists
  • Receive real-time market feeds to stay on top of your scrips
  • Access predefined watch-list of Nifty 50 and other indices

Upstox Pro Web:

Useful for traders who dont want to install any software and apps.

It can be accessed anywhere through web browser. Some of the salient features of Upstox PRO Web platform are

  • Advanced charting with more than 100+ indicators
  • Minimalist interface with access from different browsers

Upstox Desktop Platform:

This for the users who wants quick access to the markets like intraday traders.

This application is from third party called Omnesys NEST.

Upstox Margin/Exposure and Intraday Leverage Details

  • Upstox Margin for NSE and BSE Cash Segment:
    • 20x Margin for stocks listed in F&O
    • Upto 2x margin for stocks with 20% circuit breaker for all intraday (MIS) orders
  • Margin for equity Futures :
    • 6X leverage for CO(Cover order) and BO (Bracket Order)
    • 4Xleverage for MIS orders
  • Leverage for Equity Options buying:
    • 1.3X leverage for CO(Cover order) and BO (Bracket Order)
    • No leverage for MIS orders
  • Leverage for Equity Options Selling :
    • 4X leverage for all orders
  • Exposure for Currency Futures : Upto 4X leverage for MIS/CO and BO Orders
  • Upstox Margin for Commodity Futures:
    • Upto 3Xmargin for Non-Agri commodities with CO orders and 2.5X in MIS orders

Upstox also offers a unique schemes for the customers who are interested in getting more leverages called Priority Pack.

In Priority Pack , you need to pay monthly charges of Rs 999 for Equity, F&O and Currency and Rs 499/month for Commodities.

With Priority pack, you will get margin upto 25X in cash Segment and upto 4 times in MCX futures.

RKSV Membership Information :

  • RKSV NSE Membership:
    • Capital Market (CM) – INB231394231
    • Future & Options (F&O) – INF231394231
    • Currency Derivatives (CDS) – INE231394231
  • RKSV BSE Membership:
    • Capital Market (CM) – INB011394237
    • Future & Options (F&O) – INF011394237
  • RKSV MCX Membership:
    • Member Code – 46510
    • FMC Regn. No. – MCX: MCX/TM/CORP/2034
    • CDSL: IN-DP-CDSL-00283831
    • NSDL: IN-DP-NSDL-11497282

Upstox Contact Details:

  • Website: https://upstox.com
  • Email: support@upstox.com
  • Phone: +91-2206130999
  • Address: Upstox, 30th floor, Sunshine tower, Senapati Bapat Marg, Dadar (W) , Mumbai – 400013

Advantages and Disadvantages of Upstox:

I am providing the Pros and Cons of Upstox below,

Disadvantages of Upstox:

  • Call and Trade is chargeble at Rs20 per trade
  • Good Till Cancelled (GTC) orders are not supported in Delivery segment
  • Investment in FPO and IPO are not possible

Advantages of Upstox:

  • One of the first brokerage house to start discount broking in India
  • Zero Account Opening Charges
  • Good commitment in developing advanced trading platforms
  • Backed by likes of Mr. Ratan Tata
  • Zero Brokerage on Delivery trades
  • Fund Transfer with 40+ major banks

Curently Upstox is running free advisory offers:

Upstox Review – Conclusion:

Though started almost same time that of Zerodha, Upstox has been lagging in terms of number of customers.

But in my opinion, they are the second best to Zerodha. They are able to maintain good reputation with their customers.

Their old trading platform was very unstable but with new in house platform Upstox Pro, their major issue is addressed.

Traders looking for alternative to Zerodha can look to Upstox for opening their account. If you want to rate Upstox, please let me know through comments.

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