Upstox Review

Category: Reviews | Author: Trading Brokers | Date: October 2, 2023

Upstox, a prominent player in the world of Indian brokerage, stands out with its commitment to cost-effective trading and investment solutions. As a discount brokerage firm, Upstox offers zero brokerage on equity delivery trades and competitive rates on other transactions, making it an appealing choice for traders seeking to optimize their trading costs. Beyond its cost advantages, Upstox equips traders with advanced charting tools and real-time data, empowering them to make informed decisions in the dynamic world of financial markets. In this comprehensive review, we’ll delve into various facets of Upstox, including its regulatory compliance, trading tools, educational resources, market coverage, account types, and funding options, to help you navigate the possibilities it offers for your financial journey.

Pros & Cons

  • Upstox offers a range of investment options to the users
  • Upstox is backed by a group of investors including Kalaari Capital, Ratan Tata, and GVK Davix
  • Upstox offers minimal brokerage charges based on the type of plan
  • Equity delivery is free with investment through Upstox
  • Upstox provides its own developed trading platforms and smart tools to plan and create customized strategies for a return-rich portfolio
  • Being an online discount broker, Upstox does not offer advisory services
  • Equity delivery trading is not free and is charged at a lower of Rs. 20 per order or 2.5%
  • The brokerage fee for stock deliveries is Rs 20 per trade
  • Call and Trade is chargeable at Rs 20 per trade
  • Good Till Cancelled (GTC) orders are not supported in the delivery segment
  • Margin Funding is not available on delivery trades

Summary

Upstox Review

Upstox Review

Upstox, a prominent discount brokerage firm, is at the forefront of providing trading and investment services in India. Regulated by the Securities and Exchange Board of India (SEBI), the nation’s premier securities market regulatory body. Upstox empowers traders and investors with a diverse set of platforms and tools, including Upstox Pro Web, Upstox Pro Mobile, and Dartstock.

Moreover, Upstox places a strong emphasis on education, offering a rich repository of resources. Users can access webinars, video tutorials, and informative blogs to enhance their trading knowledge and stay abreast of the ever-evolving market trends. Upstox stands out by providing access to a wide spectrum of instruments across various markets, encompassing equities, derivatives, commodities, and currencies. This diverse array of options empowers users to diversify their investment portfolios and explore myriad trading opportunities.

Recognizing the distinct needs of different traders, Upstox offers a range of account types, including the Securities Trading Account and Commodity Trading Account. This flexibility enables users to tailor their trading experience according to their specific preferences and objectives. Facilitating seamless fund management, Upstox offers a variety of funding options. Users can conveniently fund their Upstox accounts through bank transfers, UPI (Unified Payments Interface), and debit cards. This versatility ensures that users have multiple avenues to manage their financial resources effectively.

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Regulation

Upstox operates under the vigilant regulation of the Securities and Exchange Board of India (SEBI), India’s authoritative body entrusted with overseeing the nation’s securities market. Established in 1988, SEBI’s core mission is to meticulously regulate the securities market while safeguarding the interests of investors across the nation. Operating as a SEBI-regulated broker, Upstox diligently adheres to a comprehensive framework of rules and regulations established by this regulatory authority. These stringent guidelines are meticulously crafted to foster an environment where brokers operate with utmost fairness and transparency.

It’s worth noting that Upstox is completely legal in India and has received approvals from the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and exchanges to provide trading services encompassing stocks, forex, and commodities within India. The company’s Risk Management Policy is based on FMC regulations/SEBI regulations/guidelines. The maximum permissible brokerage rate is 2.50% of the premium amount or Rs. 250/- per lot, whichever is higher. If you still want to explore alternative options, we encourage you to check out our list of regulated brokers to make an informed choice.

Platforms & Tools

Upstox Pro

Upstox Pro

Upstox provides a diverse range of platforms and tools tailored to meet the diverse needs of traders. Among these offerings are Upstox Pro Web, Upstox Pro Mobile, Dartstock and Upstox Pro Desktop. These platforms are designed for user convenience and equipped with advanced features to facilitate a seamless trading experience.

  • Upstox Pro Web: is a web-based trading platform that allows users to access and trade directly from their web browsers. It boasts advanced charting tools, real-time data, and customizable watchlists for effective decision-making.
  • Upstox Pro Mobile: Available for both Android and iOS devices, empowers traders to execute transactions while on the move. This mobile trading app provides real-time market data, advanced charting tools, and efficient order placement capabilities.
  • Upstox Pro Desktop: A desktop trading platform that provides a comprehensive trading experience with advanced features and tools for technical analysis.
  • Dartstock: Dartstock is a 3rd party trading software by iDarts. It is an installable trading terminal for advanced traders. Dartstock offers many powerful features for traders such as perfect market information and analysis platform

In addition to its in-house platforms, Upstox has partnered with TradingView, a leading charting platform. This integration enhances the trading experience by providing access to an extensive array of charting tools, including 104 indicators and over 80 drawing tools. They also provide additional tools such as

  •  Brokerage Calculator: A tool that helps users calculate the brokerage charges for their trades, allowing them to plan their trading strategies more effectively
  • Span Calculator: A tool that helps users calculate the margin requirements for their trades in the futures and options segment
  • NPV Calculator: A tool that helps users calculate the net present value (NPV) of their investments
  • UPLink API Platform: Upstox’s API platform allows users to build their own trading universe and enjoy faster performance with industry-leading request and response times

Education

Upstox places a strong emphasis on user education by offering an array of valuable resources. Users can access an extensive range of educational materials, including webinars, video tutorials, and insightful blogs, designed to enrich their trading knowledge.

Upstox’s Learning Center provides a comprehensive guide to conducting online trading and investing-related learning terms. It covers topics such as intraday trading, choosing the right broker, NRI/NRO trading rules, and more. Traders can also download the Upstox app from this section. Also, Upstox offers an Investor Masterclass section which is a series of workshops that help educate investors online about the stock market investing rules and how investors can maximize their returns on investments. The workshops cover topics such as companies, sectors, and industries, and how to analyze them

For those eager to elevate their investment and trading skills, Upstox offers UpLearn, a dedicated platform that offers world-class education in investment and trading, entirely free of charge. UpLearn offers an array of courses on topics ranging from option trading to technical analysis, empowering users to hone their expertise and navigate the financial markets with confidence.

Markets

Upstox boasts an extensive array of trading instruments spanning diverse markets, encompassing equities, derivatives, commodities, and currencies. This expansive selection empowers users with the ability to diversify their investment portfolios and explore a multitude of trading opportunities.

Within the realm of equities, users can trade shares of companies listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Additionally, Upstox facilitates derivative trading, offering futures and options contracts tied to various underlying assets, including equities, indices, currencies, and commodities. Upstox also offers trading in the money market. The money market is a market for short-term borrowing and lending of funds. Upstox offers various types of money market instruments such as treasury bills, commercial paper, and certificates of deposit.

Expanding its offerings further, Upstox provides access to the commodities market, enabling users to engage in trading commodities such as gold, silver, crude oil, and natural gas. Moreover, users can explore the currency market, participating in currency pairs such as USD/INR, EUR/INR, GBP/INR, and JPY/INR. This diverse range of instruments ensures that users have a plethora of options to tailor their trading strategies to their preferences and objectives.

Accounts

Upstox offers traders the flexibility of choosing between different distinct account types, each tailored to cater to specific trading preferences and market segments.

  • Securities Account: A Securities Account with Upstox provides traders with access to a wide spectrum of financial instruments within the securities market. This includes equities (commonly known as stocks), futures, options, and currencies. With this account, traders can diversify their investment portfolio and explore various trading strategies. Upstox facilitates trading on two major Indian stock exchanges, the National Stock Exchange (NSE), and the Bombay Stock Exchange (BSE). Whether you’re interested in buying and selling stocks, engaging in futures and options trading, or trading in currencies, the Securities Account offers a comprehensive platform to participate in the securities market.
  • Commodities Account: The Commodities Account offered by Upstox is tailored for those keen to venture into the commodities market. This account enables traders to engage in the trading of commodity futures and options. Commodity trading includes assets such as gold, silver, crude oil, and natural gas. With access to the Multi Commodity Exchange (MCX), one of India’s prominent commodity exchanges, traders can seize opportunities in the commodities market. This account type is ideal for diversifying portfolios and capitalizing on the price movements of various commodities.
  • Demat Account: Upstox offers two types of demat accounts – Repatriable stock account (NRE) and Non-repatriable stock account (NRO) A demat account is an online account that holds all your shares, bonds, securities, fixed deposits (FDs), mutual funds, and exchange-traded funds (ETFs)
  • Trading Account: Upstox offers a trading account that allows customers to trade in stocks, options, commodities, and futures There are five types of trading accounts that customers can open to start trading on the Indian stock market. These include NSE or BSE, F&O or Futures, OMCs or Derivatives, Call or Put

Funding

Upstox provides users with a variety of funding options to add funds to their accounts seamlessly.

  • Bank Transfer: Traders can transfer funds from their bank account to their Upstox account using NEFT, RTGS, or IMPS. The funds are usually credited to the trading account within a few hours.
  • UPI: Traders can also transfer funds to their Upstox account using UPI. The funds are usually credited to the trading account instantly.
  • Net Banking: Upstox also offers net banking as a funding option. Traders can transfer funds from their bank account to their Upstox account using net banking.
  • Debit Card: Traders can also fund their Upstox account using a debit card. The funds are usually credited to the trading account instantly.
  • Paytm: Upstox also offers Paytm as a funding option. Traders can transfer funds from their Paytm wallet to their Upstox account
  • Cheque: Traders can also transfer funds to their Upstox account using a cheque. Upstox does not charge any fee for cheque transfer
  • Google Pay (GPay): Upstox also offers Google Pay (GPay) as a funding option for traders and investors. To add funds to your Upstox account using GPay, you need to select ‘Gpay’ as the payment option and enter your pin to make a successful payment. It is important to note that only Android users will be able to see the GPay option.

Upstox does not charge for UPI transfer, GPay, NEFT/RTGS/IMPS, and cheque. However, there is a charge of ₹7 for every transaction made through net banking. When it comes to processing times, Google Pay offers instant pay-ins, while net banking enables real-time fund transfers directly to your Upstox account. This flexibility ensures that users have multiple hassle-free avenues to manage their financial resources effectively.

Conclusion

Upstox is a leading discount brokerage firm that provides trading and investment services in India. Regulated by the Securities and Exchange Board of India (SEBI), Upstox offers a range of powerful platforms and tools, including Upstox Pro Web, Upstox Pro Mobile, and Dartstock, to empower traders. The platform prioritizes education, offering webinars, video tutorials, and blogs to enhance users’ trading knowledge. With a diverse array of instruments spanning equities, derivatives, commodities, and currencies, Upstox enables users to diversify their portfolios. While Upstox offers a compelling trading experience, it’s advisable to explore other brokerage options with longer track records for additional choices.

Upstox Logo

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Upstox is a discount brokerage firm that offers trading and investment services in India. The company provides a range of platforms and tools for trading, including Upstox Pro Web, Upstox Pro Mobile, and Dartstock. Upstox offers zero brokerage on equity delivery trades and low brokerage on other trades.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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