In this Upstox Review, we will cover various aspects of why (or why not) one should choose Upstox. We will see how worth is to open an account with one of the largest discount brokers in India.
Upstox is a discount brokerage company in India that is funded by some big and trusted names like Ratan Tata, Kalaari Capital, and GVK Davix.
In 2016, RKSV Securities changed to Upstox with a vision to provide intuitive trading software at a great price. Upstox is a discount stock broker with fast, reliable & easy-to-use trading platforms.
Upstox Pros and Cons – A Quick Look
The Upstox trading platforms provide various impressive trading features including- charting, analysis, and more. The broker normally helps users to place orders through their trading platforms easily.
Upstox is best for you if you want to save your money on brokerage. Upstox charge fixes brokerage of only Rs. 20 per trade on basic plan and Rs. 30 per trade on priority plan this is irrespective of what is your trading volume per trade. We will discuss more the plans in the below sections.
Upstox has a client base of more than 10 lakh clients which makes Upstox the second-biggest discount broker in India.
Key highlights that make Upstox one of the Best Discount Broker:
- Free account opening
- Flat Rs. 20 per trade
- Zero brokerage on Delivery
- Innovative, cutting-edge trading software on the web, mobile, and desktop
- Fast & Free Demat & Trading account opening
- Zero Brokerage on Delivery Trades
- Brokerage* Credit up to ₹500 (Limited Period offer)
- Advance and Stable Trading Platforms which supports Tradingview & Chart IQ charts
- Backed by Reliable Tata Group
- 3-in-1 (Bank, Demat and Trading) account available
- Excellent Option Chain and Options Strategy Builder
- Good Till Cancelled (GTC) and Good Till Date/Time (GTD) Orders are not available.
- Call and trade fee is charged at extra Rs 20 per executed order
- No margin funding (MTF) facility
Upstox Plans and Upstox Brokerage Charges
Upstox offers two different trading plans “Basic” and “Priority Pack”. You can select the desired plan at the time of account opening or while opening the account you can choose the “Basic” plan and later upgrade to “Priority Pack” based on the needs.
The Upstox priority plan is for traders who need a higher margin as compared to Upstox basic plan. You can opt for the Upstox priority plan, but only if you require a higher margin for intraday trading. Note that the brokerage charges for the priority plan are higher as compare to the Upstox basic plan.
|Segment||Upstox Basic||Upstox Priority Pack|
|Equity Intraday||Lower of Rs. 20 per executed order or 0.05%||Lower of Rs. 30 per executed order or 0.05%|
|Equity Futures||Lower of Rs. 20 per executed order or 0.05%||Lower of Rs. 30 per executed order or 0.05%|
|Equity Options||Rs. 20 flat||Rs. 30 flat|
|Commodity & Currency Futures||Lower of Rs. 20 per executed order or 0.05%||Lower of Rs. 30 per executed order or 0.05%|
|Commodity & Currency Options||Rs. 20 flat||Rs. 30 flat|
|Margins Intraday (MIS)||Upstox Basic||Upstox Priority Pack|
|Index Option Sell||3X||6X|
|Stock Option Sell||3X||3X|
|Margin OC/OCO Orders||Upstox Basic||Upstox Priority Pack|
|NSE Option Buy||1.33X||2X|
|Index Option Sell||3X||4X|
|Stock Option Sell||3X||3X|
Upstox Trading Platforms Review
Upstox offers various trading products free of cost to its clients this includes Upstox Web Trading Platform, Upstox Desktop Trading Platform, and Upstox Mobile App.
Upstox Pro Web 3.0 Review
Upstox Pro Web is Upstox's web-based trading platform. It offers an intuitive user interface with loads of smart features for quick execution of orders and advances technical analysis.
Some of the key features of Upstox Pro includes one-click switching between two widely used charting platforms “Chart IQ” and “Trading View”, Option Chain, Options Strategy Builder (for basket orders), quick fund transfer options which include UPI payment and Net Banking, “Refer and Earn Program”. One can also invest in IPO, Digital Gold, or mutual funds using Upstox Pro Web.
It supports different drawing tools such as trend lines, horizontal/vertical lines, Gann fan, other shapes, and much more.
You can use different time intervals for your chart analysis. You can save your favorite chart settings to make it your default view for all charts.
You can seamlessly switch between different chart types such as candle, line, bar, Heikin-Ashi, Renko and so many more.
The platform has 100+ indicators which include MACD, RSI, Bollinger Bands, Pivot Points, Super trend, and many more.
Upstox Pro Mobile App Review
Upstox Pro Mobile is a mobile trading application available for both Android and iOS. Upstox is a slick and intuitive mobile trading platform offered by Upstox. Upstox Pro Mobile is fast and easy to use and equipped with all the tools required for seamless trading on a mobile platform.
Using Upstox Pro Mobile charts you can identify charts and make informed trading decisions. Of many features, you can place orders such as Cover Orders and Bracket Orders on mobile. Stay updated on the prices of the stocks that matter to you with price alerts. The application does work well even on a slow internet connection.
Similar to Upstox Pro Web, the mobile application also offers many charting tools and 100+ indicators. However, the mobile application doesn't support “Trading View” charts yet.
It does offer an option to invest and trade in all the instruments. You can also invest in IPO, Mutual Funds, and Digital Gold using the Upstox Pro Mobile application.
On the UI front, it also offers an option to switch to the dark theme.
Upstox offers users to try an app without opening an account as a guest user with some limitations on functionality.
Desktop Trading Platforms
Most of the pro traders like to trade using Desktop applications rather than Web or App. This is because Desktop applications offer the advantage of speed. It supports keyboard shortcuts so it is easy to enter or exit the stock or maneuver throughout the application.
Upstox supports three different desktop applications. Dartstock, Nest Trader, and Fox Trader.
The Dartstock and Nest Trader can be downloaded and used without any additional charge once you open your account with Upstox.
You can also integrate Fox Trader which is again a 3rd party charting software but you will have to subscribe for Fox Trader separately. Since Fox Trader is Paid we will cover only DartStocks and NEST Trader.
Dartstock: Your trading experience should be fast, efficient & productive. Upstox has partnered with iDarts to offer you the Dartstock software to help you in your daily trading routine. Seize market opportunities at the right time with sophisticated charting tools and analyze scrips that suit your trading style.
NEST Trader: Designed with speed and low latency in mind, NEST streams data with the fastest possible refresh rates. NEST remains stable even at high loads. Every component can be fully customized as per each user’s requirement. Edit layouts, fonts, colors, and keyboard shortcuts. Customize to your specific needs so that you can trade smarter and faster.
Stream data to multiple components on multiple monitors. Place Cover Order and Bracket Orders with ease on NEST.
What is IndusStox 3-in-1 Trading Account?
Upstox provides a 3-in-1 account opening facility to clients. Upstox has tied up with IndusInd Bank to offer this facility, therefore, Upstox's 3-in-1 account is termed as IndusStox 3-in-1 account, an integrated platform for Upstox Demat Account, Upstox Trading Account, and IndusInd Bank Account.
Benefits of opening IndusStox 3-in-1 Trading Account:
- Open your multi-feature IndusStox 3-in-1 account and trade into Equity, F & O, Commodities, and Currency segments
- Zero charges on Call N Trade ( Up to 10 calls in a month)
- Keep Earning interest up to 6% on funds allocated from your Savings A/c for trade
- Skip fund transfers into your Demat account as it is Demat + Trading + Savings Bank Account
- Enjoy No Fund Transfer Limits and there are no charges
- There is no need to maintain a minimum balance in the IndusStox 3-in-1 Account
How to Open IndusStox 3-in-1 Trading Account?
If you are interested in opening Upstox's 3-in-1 Trading Account, simply follow the steps below and complete the account opening process:
- Click here to visit Upstox's 3-in-1 account opening page
- Enter your mobile number & email address
- Use the OTP sent to you by SMS and Email to validate
- Enter your PAN, your name will be fetched automatically as per PAN
- Enter your Personal Details correctly on the next page
- Set up your trading preferences like Segments to activate and trading plans
- Upload your signature
- Complete your Upstox account opening process using Aadhaar Authentication
- Continue opening your IndusInd Bank Saving account that will be linked to your newly opened trading account
- Once done, you are ready to trade using your 3-in-1 trading account
The plans offered by Upstox are affordable and offer minimal brokerage. Upstox, a company backed by Ratan Tata, has the second-highest number of active clients. It provides advanced software for trading with terminal experience.
In our opinion, Upstox should improve its infrastructure in order to provide more stable platforms during times of high volatility.
Upstox is the best trading platform if you are searching for an easy and advanced trading platform.
In addition to 100+ indicators and charting tools, Upstox offers advanced, fast, and stable web, desktop, and mobile trading applications. Suitable for both experienced intraday traders and those just starting out.
In addition, you will receive low brokerage charges and high margins, which are crucial to your trading success.