Upstox Review 2021- A Honest Unbiased Review, Brokerage Charges, Margin (Latest)

Upstox Review in 2021: Upstox  (earlier known as RKSV Securities) is the top discount broker in India, good for traders who look for low brokerages, high margins, and decent trading platforms.

Upstox has competitive pricing, helpful trading tools, and an easy-to-use trading platform. With no account opening charges and hundreds of direct mutual funds on offer, it’s easy for beginners to get started, while active investors will appreciate Upstox commission-free delivery trades on India securities.

RKSV stands for the letters of the owners of the company namely, Ravi Kumar, Raghu Kumar, and Srinivas Viswanath,

In this article, we shall checkout Upstox Review in 2021 and understand their advantages and disadvantages, customer ratings with regards to brokerage charges, trading platforms, and client support, etc.

Currently, they are operating from three locations-

1. Mumbai
2. Delhi
3. Bangalore

Upstox offers services across all segments like Equities, Future, Options, Currencies, and Commodities.

Types of Upstox Accounts

There are generally two types of accounts you can have at Upstox –

1. Securities Account
2. Commodities Account.

A securities account can help you perform trade on Equities, F&O, and Currencies on NSE and BSE.

On the other hand,  Commodity accounts let you trade commodity futures on the MCX. You can view your balance for equities and commodities in two separate tabs.

Upstox offers two types of account that are given below- 

Special Link To Open FREE Upstox Account

Upstox-

Upstox (Up Stocks Basic) enables basic trading features in the Equity Delivery segment through mobile and website. RKSV doesn’t charge any brokerage for trading the Equity Delivery segment using Upstox.

Upstox Pro ( ₹20 per trade) 

This is a paid service that refers to advanced users or even the frequent traders in places like Indra-day & F and O segments.

Apart from the features offered in Upstox basic, the Pro provides additional features such as analysis, trading, monitoring of socks, stock, commodities, F & O, and currencies.

It also has options charted for professional and advanced traders for additional analysis. Their wide range of features like chart type, indicators among others is also quite alluring. Their UI is rich in data and easy to use.

Upstox Brokerage Charges 2021

The enticing feature about the discount brokers is the minimal cost they charge. Upstox too is popular with its catchy advertisements about ₹20 flat brokerages per trade. It means that the charge is irrespective of the size of trade and in fact the segment of the trade.

Upstox brokerage charges the lower of ₹20 or 0.05% of the trade. This is a real deal for those losing much of their amount paying brokerage.

Moreover, equity delivery trading requires no brokerage.

Since the mission of this setup revolves around offering “great price” the brokerage and fee components are pretty decent and light on the pocket.

As mentioned above, RKSV set a trend of having certain blanket plants wherein on a fixed charge basic, one can trade without any restrictions on the number of transactions.

• Equity delivery – Fee/Charge
• Intraday – Lower of Rs 0.01 or Rs Rs 20 per order traded
• Other trades – Rs 20 per order traded

Upstox offers investors a unique way to enhance their leverage margin for trading. It lets the investors keep their investment/shares as collateral and corresponding to the value of such investment, it enhances the trading margin.

For convenience, it does offer a fee/brokerage calculator like most of the other competitors do.

RKSV does not levy any restrictions like maintenance of certain minimum balance, maintenance of account status. It does not even charge any account closure fee or software fee which some brokerage houses might levy.

Upstox Commodity Charges

Upstox Commodity brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox Currency Charges

Upstox Currency brokerage is Rs 20 per executed order or 0.05% (whichever is lower)

Upstox Equity F&O Charges

Upstox Equity F&O brokerage is Rs 20 per executed order or 0.05% (whichever is lower)

Upstox Charge Explained:

• STT: This is charged only on the sell side for intraday and F&O trades. It is charged on both sides for Delivery trades in Equity.
• Stamp Duty: Charges based on the state the customer is located in.
• Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus transaction charges.
• SEBI Turnover Fees: This is charged at Rs 5 per Crore.

Other charges (Upstox Broker Hidden Charges/Fees) 

1. Call & Trade: Rs 20 per executed order
2. Physical contract notes: Rs 25 per contract note plus courier charges. (Digital contract notes are free.)
3. Instant Money Transfer Fee: Rs 7 per transfer.

Upstox Account Opening Charges & Annual Charges

• Trading account opening charges: Free
• Demat account opening charges: Free ( Limited Period Offer)  Click here to avail the offer)
• Trading Annual Maintenance Charges: NILL
• Demat Annual Maintenance Charges (AMC): Nill for the first year and Rs 150 from the second year onwards.

Upstox Brokerage & Span Margin Calculator

As per the above-given table chart, the broking house provides the highest leverage of up to 15x on the NSE/BSE Cash segment, precisely for Priority Plan, The company is providing good leverage on equity intraday and equity option.

Upstox discount broking has gained huge popularity in the stock market due to its product offerings. The company offers good quality trading products to its customers for huge satisfaction and convenience.

Usually, equity trading product is highly offered by the company due to its heavy demand. The company executives usually custom-made products and services according to the needs and requirements of the investors or clients.

With the trading products of Upstox, the customers can easily boost up the profit rate. All the mandatory trading products are offered by the company including equity trading, currency trading, options, and futures.

The upstox broking house avails all these trading products at very nominal prices. Upstox product offerings can be a great help in the trading process.

Upstox Review 2021 – How Many Platforms Are For Trading On Upstox

Here are various Trading Platforms of Upstox-

Upstox Pro Mobile App Review 2021:

Open Demat Account with Upstox – Start @ Rs.20 per Trade

Open Upstox Account

The mobile trading app of Upstix 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-

• Charts of multiple intervals, type, and drawing styles
• Access to NSE cash, Futures and Options, and Currencies scrips
• Universal search tool to find simple and complex stocks
• Cutting-edge charting tools that are above industry standards
• Apply 100+ technical indicators on real-time charts.
• Receive real-time market feeds to stay on top of your scrips
• Set unlimited number of price alerts for instant updates
• Trade directory from charts with the Trade From Charts (TFC) features
• Create an unlimited number of customized watchlists
• Access predefined watch-list of Nifty 50 other indices.
• Availability on smooth money transfer with 40 plus banks in the app.
• It has an overall 4.5-star rating on the Android App Store.
• Light on storage: 21 megabytes
• The app has 100,000 to 500,000 install as of yet.

A local version of the app with the Tamil language is going to roll out soon. It will be the first of its kind as a mobile trading app to have Tamil as its language.

The primary reason for this version is the client base from Tamil Nadu, and this seems to be a well-woven move from Upstox.

Upstox Review 2021: Upstox Pro Web

Upstox Pro is yet another trading platform that, again, is paid service and is accessible through any browser across platforms and devices.

Users can quickly start using this application without the need to download or install any additional software.

It is accessible through a browser with a specific URL. You can also access it through mobile devices as long as it has a working internet browser.

Here are some features of Upstox Pro Web

• It has high functional charts with over 100 indicators, allowing users to make and mark their observations on market and trends associated.
• It doesn’t weigh on any device and is accessible easily through any browser.
• The ordering window is also conveniently placed on the screen for users to place the order as they see fit.
• They have assigned keyword shortcuts for quick access.
• There are some issues concerning its usability since the beginners might have a hard time comprehending the structure of this application.

Upstox Customer Care Number & Email Ids-

Upstox Corporate Office Address: Upstox, 30th floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai – 400 013.

Upstox Registered Office: Upstox, 807 New Delhi House, New Delhi 110001

• Contact Number: +91-22-6130-9999
• Upstox helpline: +91-22-6130-9999
• Upstox help desk: +91-22-6130-9999
• Upstox email: [email protected]

Upstox Review 2021: Upstox Pros and Cons

Upstox Pros (Advantages)

The following are the advantages of Upstox. You must read Upstox’s advantages and disadvantages before opening an account with Upstox. Upstox pros and cons help you find if it suits your investment needs.

• Upstox MF Platform offers 1000’s Mutual Funds to invest in. Customers can choose the Lumpsum or SIP pattern of investing.
• Upstox Option Chain Tool helps traders find out Spot, Futures prices, vertical comparison of rates, get details such as circuit levels, Open High Low Close and market depth. It allows customers to measure volatility, open interest, performance indicators, and check greeks as well.
• Upstox Pro Web Trading Platform offers multiple indicators to monitor markets on-to-go.
• Upstox Bridge for Amibroker helps you to code & execute your trading strategy using the AmiBroker AFL editor
• Upstox Developer Console helps you build (code) your own trading app using languages such as Python.
• Upstox offers brokerage free trading in the Equity Delivery segment (Customers does not have to pay brokerage for delivery trades in the equity segment
• After Market Order (AMO) and Cover Order are available on both web and mobile
• Mobile trading app available for both Android and iOS phones. No software users charge.
• Trailing-Stop/Stop-Loss (SL) is available on both web and mobile.
• Margin Against Shares is available
• Online IP Application (UPI) is available.

Upstox Review 2021- Upstox Cons (Disadvantages)

The following are the cons of Upstox. Check the list of Upstox drawbacks.

• Margin Funding is not available on delivery trades
• Good Till Cancelled (GTC) and Good Till Date/Time (GTD) orders are not available in the Equity Segment. GTC/GTD orders are available in commodity trading.
• Upstox doesn’t offer unlimited monthly trading plans
• Call and trade fee is charged at extra Rs 20 per executed order (Rs 20 Brokerage + Rs 20 Call & Trade Fee)
• Additional Rs 20 per executed order is charged for Intraday square MIS/BO?CO orders when they are not square of by the customer.
• In Upstox basic plan, though brokerage is free, customers still have to pay Demat Transaction Charges. Upstox Demat debit transaction charges (Rs 21.83) are high than other discount brokers who charge a fee of Rs 15.93 per Demat debit transaction.
• Brokerage-free is trading is available only in the Equity Delivery segment (in Upstox Basic plan). For all other segments including Equity F&O, Commodity F&O, and Currency Derivative, brokerage is charged at Rs 20 or lower per trade.
• Doesn’t provide stock tips or recommendations.
• 3-in-1 accounts are not available as a company doesn’t provide banking services.
• 24/7 customer service is not available
• Upstox doesn’t offer API access for automated trading.
• Upstox NRI Trading and Demat account is no more available (since Jan 2018)

Upstox Referral Program- Upstox Review 2021

The discount broker boasts of a referral which existing customers to refer Upstox to their friends and family. On successful registration of a client, the referrer earns 1-% of the brokerage generated from the accounts registered for the lifetime.

This is one program that is almost provided by every second broker in the market.

Upstox Review 2021- Final Thoughts

Upstox is indeed a great choice, but even better for traders who are explicitly looking for a cheap brokerage from a decent stock broker/trading platform.

But the option for that specific requirement is limited since the alternatives to Upstox are Zerodha and 5Paisa.

But the tentative scheme would be to bring more value through fragmented stockbroking space in the country.

They also take care of in-house trading software and also provide additional investment offering to their clients. These are amongst the few things that can be tweaked for it to be helmed as the best.

Another persistent problem with this platform has been customer services, which genuinely can be improved for better services and customer assistance.

With all the features and options that it provides, Upstox can easily rank among the most popular discount broker platform in India.

The company currently houses 1,00,000 customers with a daily trading turnover of INR 15,000 crores. It offers excellent opportunities to users who are looking for long-term investments and those who frequent the stock market.

CLICK HERE TO OPEN FREE ACCOUNT WITH UPSTOX [WPSM_AC id=6179]

Faiz Khan

Hey, I am Faiyaz Khan (Faiz), an Apple Certified Mac Engineer by profession, and Blogger by Passion. and the Owner and Founder of JioFiber. Because of Blogging, recently I left My Job. In my past three and a half years, I learn a lot. Now I am trying to share my knowledge around the world.

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