Upstox Review 2024: Features, Brokerage Charges, Pros & Cons

Are you looking for a reliable online trading platform to invest in stocks, futures, options, and more? Then Upstox might be the perfect fit for you. With its extensive range of features and reasonable brokerage charges, Upstox has emerged as one of the leading brokers in the Indian stock market. Upstox is a tech-first low-cost broking firm in India, backed by marquee investors like Ratan Tata, Kalaari Capital, and GVK Davix.

In this Upstox review, we will be taking a closer look at its various offerings, trading platforms, and charges to help you understand if it suits your investment needs. So, sit back, relax and read on to find out more about Upstox.

9.7

Upstox Special Account Opening Offer Best Values

Zero Account Opening Charges
Zero AMC
Zero commission on Mutual Funds & IPO
₹20 per order on Equity, F&O, Commodity and Currency

Sign Up for Free Read full review

Upstox Review Summary

Upstox is a leading stockbroking firm in India that offers a range of investment and trading services to retail investors. With a user-friendly platform, low brokerage fees, and a wide variety of investment products, Upstox has become a preferred choice for many traders.

Whether you’re a beginner or an experienced trader, Upstox has the tools and resources to support your investment journey. With its user-friendly platform, low brokerage fees, and wide variety of investment products, Upstox is a great choice for anyone looking to invest in the stock market.

Sign up for a free Upstox account today and start investing!

What Upstox is doing good – Upstox Pros

• Low brokerage charges: Upstox’s brokerage charges are very competitive. The company offers a flat brokerage charge of ₹20 per trade for intraday and delivery trades. Upstox also offers a discounted brokerage charge of ₹10 per trade for trades above ₹20,000.
• Advanced trading technology: Upstox offers a variety of trading platforms and tools to its customers. The company’s web-based platform is very user-friendly and offers a variety of features, including real-time market data, charting tools, and technical analysis indicators. Upstox also offers a mobile app that allows you to trade on the go. The app is available for both Android and iOS devices.
• Optimized Charting Analysis: With just a click, you can switch between two charting libraries Tradingview and ChartIQ, and access 100+ indicators, and 20+ drawing tools to track trends, analyse stocks and optimise your trades.
• Free Demat and trading accounts: Upstox does not charge any account opening charges. The company also does not charge any annual maintenance charges.

Where Upstox can improve – Upstox Cons

• Does not offer to trade on international exchanges: Upstox currently does not offer to trade on international exchanges. This means that you cannot trade in markets such as the New York Stock Exchange or the London Stock Exchange.
• Customer support can be slow at times: Upstox’s customer support team is available 24/7, but they can sometimes be slow to respond. This can be frustrating if you have a problem that needs to be addressed quickly.

Upstox Securities Brokerage Charges, AMC and Other Charges

Upstox Securities is a low-cost online discount broker with a simple pricing model offering trading services across Equities, Commodities, Currency Futures & Options, Mutual Funds, and IPOs. In this Upstox review, we will discuss the charges that Upstox levies for these services. It’s important for traders to understand these charges so that they can make informed decisions about their investments and trading activities.

Here is a breakdown of the Upstox brokerage charges, AMC, and other charges imposed by Upstox Securities:

Upstox Account Opening Charges

Account opening charges are fees that are charged by brokerage firms when a new account is opened. These charges are usually one-time fees and are separate from other charges, such as brokerage fees or annual maintenance charges.

Upstox is currently charging ZERO account opening charges making it one of the most affordable trading platforms in India.

Upstox Annual Maintenance Charges

Annual maintenance charges (AMC) are fees that are charged by brokerage firms on a yearly basis to maintain a trading account. These charges are usually levied to cover the cost of maintaining and updating the account, as well as providing customer support and other services.

Along with nil account opening charges, there are ZERO annual maintenance charges for trading and Demat accounts in Upstox, making it even more lucrative for traders. Note that Zero AMC is applicable for users who opened accounts from August 2021 onwards.

Upstox Brokerage Charges

Brokerage fees are charges that are levied by brokerage firms for providing trading services to their clients. These fees can be based on a percentage of the transaction, a flat fee, or a combination of the two. The specific brokerage charges that Upstox charges vary depending on the transaction.

Upstox charges for its equity, F&O, currency, and commodities trading services are outlined below.

Upstox offers transparent and straightforward pricing that traders can easily understand. The company provides a list of all possible charges that may be applicable for traders, including STT Charges, Demat Charges, and Taxes and Fees by the Government of India. Traders should also be aware of the various fees charged by either NSE or BSE, such as Transaction charges based on the scrip group and the Exchange turnover charge. Also, traders must know the fees charged by Central Depository Services Limited (CDSL) and SEBI. Lastly, Margin Trade Financing traders may incur additional costs such as a daily slab charge, cost of pledging, or penalty fees.

Upstox Online Account Opening Process

Opening a demat account with Upstox is quick and easy. With the online account opening process, you can set up a demat and trading account in just a few steps. Start by submitting and verifying your PAN and Aadhaar. Once verified, your account will be opened in a maximum of three days. With Upstox, you can enjoy a secure onboarding process with just PAN, Aadhaar, and eKYC.

Read, Step-by-Step Upstox Account Opening Process

Upstox Trading Platforms and Tools

Upstox is a tech-first low-cost broking firm in India, their robust trading platform, Upstox Pro Web and Upstox Pro Mobile, offers a multitude of rich trading features. The platform enables users to trade across various segments, including equities, commodities, currency futures, and options. The platform boasts trading analysis, and charting tools and makes it easy to place orders through mobile phones and web browsers. Upstox has ensured that its platform is robust and reliable, which makes it an ideal choice for traders of all levels.

PRO WEB – Web-Based Trading Platform

Upstox offers a top-notch web-based trading platform named PRO WEB. Upstox Pro is a web-based trading platform and will work on any system irrespective of the operating system you are using. All you need is a good browser. It is best viewed on Google Chrome. It is user-friendly, intuitive and provides a seamless trading experience. The platform has numerous features such as customizable workspaces, advanced charting tools, real-time market data, and alerts. It also offers various order types and advanced trading concepts like bracket orders and cover orders. The platform is compatible with multiple devices and operating systems, allowing traders to access their accounts anytime, anywhere. 

PRO MOBILE – Mobile Trading App

Upstox’s PRO MOBILE application makes it easy to trade stocks, mutual funds, IPOs, F&Os, commodities, and currencies. The app is designed to be user-friendly and offers a variety of features to help you make informed investment decisions.

With the PRO MOBILE app, you can:

• Access your portfolio and make trades in just a few clicks
• Withdraw money to your bank account in just 15 minutes
• Get real-time market data and quotes
• Analyze stocks using technical indicators and fundamental data
• Place complex trades using basket orders and GTT orders
• Manage your investments efficiently using the Margin Trading Facility and demat holdings
• Find tax-saving funds using smart filters

The PRO MOBILE app is a powerful tool that can help you reach your investment goals. Whether you’re a beginner or a seasoned trader, Upstox’s PRO MOBILE app has something to offer.

Here are some additional details about the features of the PRO MOBILE app:

• Option Chain with Greeks: The Option Chain with Greeks feature provides you with information about the implied volatility, delta, gamma, theta, and vega of an option. This information can help you make informed decisions about whether to buy or sell an option.
• Interactive pay-off graphs: The Interactive pay-off graphs feature allows you to visualize the potential profits and losses of an option trade. This can help you make more informed decisions about your trades.
• Technical analysis tools: The PRO MOBILE app offers a variety of technical analysis tools, such as moving averages, Bollinger Bands, and Fibonacci retracements. These tools can help you identify trends and patterns in the market.
• Ready-Made Option Strategies: The PRO MOBILE app offers a variety of ready-made option strategies, such as covered calls, protective puts, and iron condors. These strategies can help you reduce risk and increase your chances of success.
• Scanners: The PRO MOBILE app offers a variety of scanners, which can help you find stocks that meet your criteria. For example, you can use a scanner to find stocks that are trading below their 50-day moving average.
• Research insights: The PRO MOBILE app offers a variety of research insights, such as analyst ratings, price targets, and news articles. This information can help you make informed investment decisions.

Overall, traders can rely on Upstox for a range of useful features and tools for mobile trading. The PRO MOBILE app is a powerful tool that can help you reach your investment goals. Whether you’re a beginner or a seasoned trader, Upstox’s PRO MOBILE app has something to offer.

Upstox X TradingView – Trade from Tradingview

Upstox x TradingView is a new desktop-only platform that combines advanced charting features with seamless trading capabilities. It eliminates the need to switch between multiple tabs, apps, and tools for trading.

Previously, you might have had to set charts on TradingView, manage the option chain on the Upstox mobile app, and place orders from another tab. This process was often time-consuming and led to missed opportunities.

Upstox x TradingView solves this problem by providing a single platform that has all the tools you need to trade effectively. It includes TradingView Pro features worth ₹12,000 per year, completely free of charge.

Here are some of the standout features and benefits of Upstox x TradingView:

• Trade From Charts: You can execute orders, make modifications, and track them directly from the charts. This seamless integration saves time and allows you to make quick trading decisions.
• Advanced Charting Tools: Upstox x TradingView offers 104 advanced indicators and over 80 drawing tools to help you analyze charts like a pro.
• Multi-Chart Setup: You can set up to eight charts simultaneously on a single screen, allowing you to monitor multiple assets or indicators at the same time.
• All-In-One Dashboard (Account Manager): You can keep track of your open positions, closed positions, holdings, and orders all in one convenient place.
• Trading from Market Depth: You can access the price ladder from market depth to view and create new orders swiftly.
• Option Chain on TradingView: You can explore the option chain with ease, selecting up to 30 strike prices above and below the last traded price (LTP) of the underlying symbol.
• Customizable Settings: You can personalize your trading experience by adjusting volume, open interest change, implied volatility, bid price, and ask price. You can also display option Greeks such as delta, theta, gamma, and vega.
• Fast and Improved Charts: Upstox x TradingView offers fast and improved charts with smoother order execution.
• Dark Theme: You can switch to dark themes for a visually pleasing and user-friendly interface.

Upstox x TradingView is a powerful trading tool that can help you seize trading opportunities and make informed decisions with ease.

Uplink – API for Traders & Business

Upstox offers a programming interface called Uplink that allows traders and businesses to connect their apps and websites to the Upstox trading platform. Uplink provides real-time market data, order placement, position monitoring, and various reports. It is ideal for businesses and startups that want to offer trading facilities to their customers or employees.

Here are some of the benefits of using Uplink:

• Real-time market data: Uplink provides real-time market data, so you can always stay up-to-date on the latest market movements.
• Order placement: Uplink makes it easy to place orders, so you can quickly take advantage of market opportunities.
• Position monitoring: Uplink allows you to monitor your positions in real time, so you can quickly identify and react to changes in the market.
• Reports: Uplink provides a variety of reports, so you can track your performance and make informed trading decisions.
• If you are a trader or business that wants to take advantage of the latest trading technology, Uplink is a great option. It is easy to use, affordable, and provides a wide range of features.

Streak for Upstox

Streak is a trading platform that allows users to create and backtest trading strategies without any coding knowledge. It provides a variety of indicators and charts for technical analysis, and users can also execute their strategies automatically. Streak is a popular choice for traders who want to automate their trading and improve their performance.

The partnership of Upstox and Streak offers a number of benefits to Upstox users, including:

• Access to Streak’s powerful strategic trading platform. Streak allows users to create, backtest, and deploy trading strategies, as well as scan for stocks that meet certain criteria. This can be a valuable tool for Upstox users who want to improve their trading performance.
• Free access to certain Streak features. Upstox users can get free access to certain Streak features, such as 50 backtests, 5 deployments, and 50 scans per day. This can help users to try out Streak’s platform without having to commit to a paid subscription.
• Seamless integration with Upstox accounts. Streak integrates seamlessly with Upstox demat & trading accounts, which makes it easy for users to place trades and track their performance. This can save users time and hassle.

Here are some specific examples of how Upstox users can benefit from the partnership:

• A beginner trader can use Streak’s pre-built scanners to find stocks that meet their investment criteria. They can then use Streak’s backtesting feature to see how their chosen strategy would have performed in the past. Once they are confident in their strategy, they can deploy it live in the market.
• Experienced traders can use Streak to create their own custom strategies. They can use Streak’s backtesting feature to test their strategies and see how they would have performed in the past. Once they are confident in their strategies, they can deploy them live in the market.
• Any Upstox user can use Streak to scan for stocks that meet certain criteria. This can be a valuable tool for finding new investment opportunities.

Sensibull for Upstox

Sensibull is a leading options trading platform in India. It offers a variety of features that can help traders to improve their trading performance, including:

• Technical analysis tools: Sensibull provides a wide range of technical analysis tools, such as charts, indicators, and oscillators. These tools can help traders to identify trends and make informed trading decisions.
• Backtesting: Sensibull allows traders to backtest their trading strategies on historical data. This can help traders to see how their strategies would have performed in the past and identify any potential weaknesses.
• Paper trading: Sensibull allows traders to trade in a simulated environment using virtual money. This can help traders to practice their trading skills without risking any real money.
• Social trading: Sensibull allows traders to connect with other traders and share ideas. This can be a valuable resource for traders who are looking for new trading strategies or insights.

The integration of Upstox and Sensibull offers a number of benefits to Upstox users, including:

• Access to Sensibull’s features: Upstox users can access all of Sensibull’s features, including technical analysis tools, backtesting, paper trading, and social trading. This can help Upstox users to improve their trading performance.
• Convenience: Upstox users can trade directly from their Upstox demat account using Sensibull’s platform. This saves them the time and hassle of having to switch between different platforms.
• Cost-effectiveness: Upstox users can get a free trial of Sensibull’s premium features. This can help Upstox users to try out Sensibull’s platform before they commit to a paid subscription.

Overall, the integration of Upstox and Sensibull is a positive development for Upstox users. It offers a convenient, cost-effective, and feature-rich way to trade options.

Here are some specific examples of how Upstox users can benefit from the integration:

• A beginner trader can use Sensibull’s technical analysis tools to identify trends and make informed trading decisions.
• Experienced traders can use Sensibull’s backtesting feature to test their trading strategies and see how they would have performed in the past.
• Any Upstox user can use Sensibull’s paper trading feature to practice their trading skills without risking any real money.
• Any Upstox user can use Sensibull’s social trading feature to connect with other traders and share ideas.

The integration of Upstox and Sensibull is a valuable resource for Upstox users. It offers a number of benefits that can help users to improve their trading performance.

Read our Sensibull Review to know more about Sensibull and the features offered by Sensibull.

Smallcase for Upstox

A Smallcase is a basket of stocks or ETFs, selected and weighted intelligently to reflect a specific idea. For example, a Smallcase on the theme of “Rising Rural Demand” would invest in stocks of companies that are expected to benefit from growing rural consumption. Smallcases are a convenient way to invest in a particular theme or sector without having to select individual stocks.

The integration of Upstox and Smallcase offers a number of benefits to Upstox users, including:

• Ease of use: Upstox users can invest in Smallcases directly from their Upstox account. This saves them the time and hassle of having to open a separate account with a Smallcase provider.
• Cost-effectiveness: Smallcases are a cost-effective way to invest in a particular theme or sector. The fees charged by smallcase providers are typically lower than the fees charged by mutual funds.
• Transparency: Smallcase providers are required to disclose the underlying holdings of each smallcase. This gives Upstox users the transparency they need to make informed investment decisions.

Overall, the integration of Upstox and Smallcase is a positive development for Upstox users. It offers a convenient, cost-effective, and transparent way to invest in a particular theme or sector.

Here are some specific examples of how Upstox users can benefit from the integration:

• A beginner investor can use smallcases to invest in a particular theme or sector without having to do extensive research on individual stocks.
• An experienced investor can use smallcases to diversify their portfolio and reduce risk.
• Any Upstox user can use smallcases to save time and money on investment research and management.

The integration of Upstox and Smallcase is a valuable resource for Upstox users. It offers a number of benefits that can help users to improve their investment performance.

Upstox Stock Market Learning Platforms for Traders

Upstox offers a variety of learning platforms to help traders learn about the stock market. These platforms offer a range of resources, from beginner-friendly courses to advanced webinars, to help traders of all levels improve their skills. Upstox’s learning platforms are a valuable resource for anyone who wants to learn about the stock market and how to trade. 

With Upstox’s stock market learning platforms, you can access comprehensive courses, informative webinars, insightful blogs, and interactive tutorials, enabling you to develop a solid foundation and stay updated with the latest trends and techniques in trading.

UpLearn – An Online Library for Traders

Upstox UpLearn is a learning platform that offers courses on a variety of topics related to the stock market, including technical analysis, fundamental analysis, and trading strategies. Upstox UpLearn is designed to help users learn about the stock market and how to trade, regardless of their experience level.

Upstox UpLearn offers a variety of features that make it a valuable resource for anyone who wants to learn about the stock market and how to trade. These features include:

• Video courses: Upstox UpLearn offers a variety of video courses that are taught by experienced traders and analysts. These courses cover a wide range of topics, from the basics of stock market investing to advanced trading strategies.
• Interactive exercises: Upstox UpLearn offers a variety of interactive exercises that allow users to practice what they have learned. These exercises are a great way to test your knowledge and improve your trading skills.
• Quizzes: Upstox UpLearn offers a variety of quizzes that allow users to test their knowledge of the material covered in the courses. These quizzes are a great way to assess your progress and identify areas where you need more practice.
• Discussion forums: Upstox UpLearn offers a discussion forum where users can ask questions and get help from other users and experts. This forum is a great way to get help with specific problems or to learn new things from other traders.

Upstox UpLearn is a valuable resource for anyone who wants to learn about the stock market and how to trade. The platform offers a variety of features that make it easy to learn and practice the skills you need to be successful in the stock market.

Here are some of the benefits of using Upstox UpLearn:

• Learn from experts: Upstox UpLearn’s courses are taught by experienced traders and analysts who can share their knowledge and insights with you.
• Practice what you learn: Upstox UpLearn’s interactive exercises and quizzes allow you to practice what you have learned and improve your trading skills.
• Get help from others: Upstox UpLearn’s discussion forum allows you to ask questions and get help from other users and experts.
• Stay up-to-date: Upstox UpLearn’s courses are regularly updated with new information, so you can stay up-to-date on the latest trends in the stock market.

If you are serious about learning about the stock market and how to trade, then Upstox UpLearn is a valuable resource that you should consider using.

Upstox Customer Care

Upstox customer care is known for its excellent service. With a team of dedicated professionals, they ensure that all customer queries and concerns are resolved. The customer care representatives are highly knowledgeable and provide accurate information and assistance to users. However, we noticed that at times customer service could be slow to respond. They can be reached through various channels, including phone, email, and chat.

Here are some additional details about Upstox customer care:

• Get live support between 8 AM and 7 PM IST, Monday – Saturday
• Customer Support Numbers: 022 4179 2999, 022 6904 2299, 022 7130 9999
• You can raise a ticket here: https://upstox.freshdesk.com/support/tickets/new
• The customer care representatives are available in multiple languages, including English, Hindi, Marathi, Gujarati, Tamil, Telugu, and Kannada.
• Upstox also offers a knowledge base with articles and FAQs that can help users with common issues.
• The customer care team is constantly working to improve the support experience, and they are always open to feedback from users.

Account Security and Regulations

• Compliance with regulatory authorities: Upstox is a registered stock broker with the Securities and Exchange Board of India (SEBI). This means that it is subject to the SEBI’s regulations, which are designed to protect investors. Upstox is also a member of the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
• Security measures for protecting user data and funds: Upstox uses a variety of security measures to protect user data and funds. These measures include:
  • Two-factor authentication (2FA): 2FA requires users to enter a code from their phone in addition to their password when logging in. This helps to prevent unauthorized access to accounts.
  • Secure sockets layer (SSL): SSL is a security protocol that encrypts data as it is transmitted between a user’s computer and Upstox’s servers. This helps to protect sensitive data from being intercepted by unauthorized parties.
  • Physical security: Upstox’s data centers are located in secure facilities with restricted access. This helps to prevent unauthorized access to data.
• Investor protection measures and insurance coverage: Upstox is a member of the Investor Protection Fund (IPF). This means that investors are protected up to ₹5 lakh in the event of a default by Upstox. Upstox also offers insurance coverage for its clients’ securities. This means that clients’ securities are insured against loss or damage.
• Procedures for resolving disputes and grievances: Upstox has a clear and transparent process for resolving disputes and grievances. This process is outlined in Upstox’s customer agreement. If a customer has a dispute or grievance, they can contact Upstox’s customer support team. The customer support team will investigate the matter and try to resolve the issue as quickly as possible. If the issue cannot be resolved through customer support, the customer can escalate the matter to Upstox’s management team.

Overall, Upstox takes account security and regulations very seriously. It has a comprehensive set of security measures in place to protect user data and funds. It is also a member of the IPF and offers insurance coverage for its clients’ securities. This means that investors are protected in the event of a default by Upstox. Additionally, Upstox has a clear and transparent process for resolving disputes and grievances. This ensures that investors’ interests are protected.

Customer Reviews and Ratings

• User reviews and feedback on Upstox’s services: Upstox has a good reputation among users, with an average rating of 4.3 out of 5 stars on Google Play. Users praise Upstox for its low brokerage fees, easy-to-use platform, and 24/7 customer support. However, some users have complained about Upstox’s lack of research tools and its complex trading interface.
• Ratings and rankings in the industry: Upstox is ranked as the #1 stock broker in India by Moneycontrol. It is also ranked as the #1 discount broker in India by Livemint.
• Strengths and weaknesses of Upstox, as per customer reviews:
  • Strengths:
    • Low brokerage fees
    • Easy-to-use platform
    • 24/7 customer support
    • Wide range of trading instruments
    • Competitive spreads
  • Weaknesses:
    • Lack of research tools
    • Complex trading interface
    • Customer support can be slow at times
• Comparison with other brokers based on customer feedback:
  • Upstox vs. Zerodha: Upstox and Zerodha are two of the most popular stock brokers in India. Both brokers offer low brokerage fees and easy-to-use platforms. However, Upstox has a wider range of trading instruments, while Zerodha offers more research tools.
  • Upstox vs. ICICI Direct: ICICI Direct is a larger broker than Upstox, and it offers a wider range of services. However, Upstox has lower brokerage fees and a more user-friendly platform.

Overall, Upstox has a good reputation among users, and it offers a variety of features that make it a good choice for traders and investors. However, it is important to note that Upstox does have some weaknesses, such as its lack of research tools and its complex trading interface.

Frequently Asked Questions

Sign up for a free Upstox account today and start investing!

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