Upstox Review 2021

Upstox is one of India’s largest and fastest-growing discount brokers, it offers a wide range of investment services at the lowest commission rates. It provides multiple trading platforms and allows access to financial products like mutual funds and others.

In this review, we reviewed how Upstox works, its pros and cons, and other important information that customers should note when considering a Upstox account.

Markets in which person can trade with Upstox?

Customer can access only Indian markets through Upstox like many others. It is best for traders and investors who focused exclusively on investments in India.

However, now customers can sign up for Upstox’s early access waitlist to invest in markets outside of India. But this feature is not currently available, it is in Upstox’s product line. 

Various Upstox accounts

As a Upstox customer, they will have access to a Upstox trading account, that allows the customer to buy and sell various financial securities like stocks, options and mutual funds. It is important to know, that to hold these securities, the customer will need a Upstox Demat account.

Features of Upstox trading account 

Below are some features that the Upstox trading account offers:

A range of financial products.

  1. Equities: Access stocks on the National Stock Exchange of India (NSE) and BSE (formerly known as Bombay Stock Exchange) through equity delivery n this customer can buy and hold the stock for as long as they need or through equity intraday in which the stock is sold before the end of the trading day. 
  2. Forex: Customer trade futures and options on currencies with Upstox.
  3. Commodities: Gain exposure to commodities through trading futures and options on the Multi Commodity Exchange of India (MCX).
  4. Mutual Funds: Upstox offers more than 2,000 funds.

Multiple trading platforms to choose from.

  1. 3rd party trading platforms. With a sign for a Upstox account, it allows access to the Dartstock, NEST Trader and Fox Trader platforms.
  2. Upstox Pro Mobile. The Upstox mobile app is available on both Android and iOS.
  3. Upstox Call & Trade. It allows investors to place orders on a phone call. Once you’ve placed a call, customer can customise the order as many times as they want within a day before the order is fulfilled.
  4. Tools & Research: Customer will get access to additional services like mutual fund screeners, margin calculators and option strategy builders.
  5. Alerts: Customer can set alerts to be notified of stock movements, news, company announcements and board meetings. 
  6. Customer support: Upstox provides live chat functionality alongside telephone and email support.

What are Upstox’s fees?

Trading fees are fees associated with buying and selling financial products. 

  1. Brokerage fee. Upstox charges ₹0 brokerages for equity delivery trades. For all types of futures, contracts and intraday equity trading, the customer has to pay ₹20 per executed order or 0.05% (whichever is lower). 
  2. STT/CTT charge. These additional transaction taxes range from 0% to 0.2% add in order amount.
  3. Transaction charge. From clearing fees to exchange costs, some charges could be charged in the amount of 0.003% of your order.
  4. GST charge. An 18% tax on total charges will be applied.
  5. SEBI charge. An additional fee of ₹15 per crore of traded amount.
  6. Demat account maintenance fee: ₹25 (excluding GST) per month.

Pros and cons

Pros

  1. Free equity delivery trading.
  2. Access to a large number of trading platforms.
  3. Provides the mobile trading app with features compatible with that of a desktop trading platform.

Cons

  1. Limited resources provided for market tips and investment ideas
  2. No access to cryptocurrency or IPOs

Is Upstox safe?

Upstox is a SEBI-registered broker. Also, it is funded by Ratan Tata, Kalaari Capital and GVK Davis. These names are reputable in Indian banking, and Upstox is generally considered safe due to the stability associated with its partner companies.

Note: Investing and trading itself always carries risks which investors should be aware of, so read terms and conditions before you start investing. Complete your research and compare brokers in India before signing up with any trading platform.

How do I sign up for an account?

Customer can sign up with a Upstox account online using Upstox’s website and following the steps below.

  1. Fill up Upstox’s online registration form. The details required may include your name, mobile number and email address.
  2. You will be asked to submit supporting documents. This document will include your Aadhaar card number, proof of income, photograph and PAN number.

 

Concluding

Upstox offers a wide range of useful features with its trading account, including multiple trading platforms, a variety of financial products for trading and provides easy access to customer service. 

Also, it provides the features at a lower cost. Note that Upstox does not offer access to international markets. As such, Upstox is the best trading platform for investors looking for low-cost trading opportunities in India.

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