Upstox, previously RKSV Securities, has strong backing from companies like Ratan Tata and Tiger Global Management, as well as GVK Davix and Kalaari Capital. RKSV Securities was founded in 2009 by Mr. Ravi Kumar, Mr. Raghu Kumar, and Mr. Shrinivas Vishwanath.
As of now, Mumbai serves as headquarters for this discount broker. The article includes an unbiased and authentic Upstox Review 2024 of history, Demat Account Opening Charges, Brokerage Charges, Trading Platforms, Pros and Cons, and more.
It’s a Discount stockbroker that lets you buy and sell stocks, futures, options, commodities, and even currencies. Plus, you may take advantage of their no-cost supplementary services and put money into initial public offerings (IPOs), digital gold, and mutual funds.
| Company Name ๐ข | Upstox ๐น |
| Previous Name ๐ | RKSV Securities ๐น |
| Founders ๐ฅ | Mr. Ravi Kumar, Mr. Raghu Kumar, and Mr. Shrinivas Vishwanath ๐ค |
| Backing Companies ๐ฐ | Ratan Tata, Tiger Global Management, GVK Davix, Kalaari Capital ๐ผ |
| Headquarters ๐ข | Mumbai, India ๐ฎ๐ณ |
| Services ๐ | Discount brokerage, stocks, futures, options, commodities, and currencies, IPOs, digital gold, and mutual funds ๐ฐ๐น |
Upstox, on 17th January 2024, announced a partnership with TradingView, a global charting platform used by more than 30 million traders and investors. Through this partnership, Upstox users will be able to use Tradingview premium advanced charting features, powerful stock analysis tools, and real-time trading on the NSE, BSE, and MCX exchanges. ๐ค๐๐
Equity Delivery & Intraday Charges
Equities delivery brokerage is Rs 20 or 0.1%, whichever is lesser per order. intraday brokerage is Rs 20 per executed order or 0.05%. (whichever is lower).
| Upstox Charges | Equity Delivery | Equity Intraday |
|---|---|---|
| Brokerage | Rs 20 per executed order or 2.5% (whichever is lower) | Rs 20 per executed order or 0.05% (whichever is lower) |
| STT | 0.1% on both Buy & Sell | 0.025% on the Sell Side |
| Transaction Charges | 0.00325% per order | 0.00325% per Order |
| Demat Transaction Charges | Rs 18.5 per scrip (only on sell) | Rs 0 |
| GST | 18% (on Brokerage + Transaction Charges) | 18% (on Brokerage + Transaction Charges) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Duty | 0.015% (Rs 1500 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Charges for Upstox Equity F&O
For F&O trades, the brokerage fee is Rs 20 (0.05%) for each executed trade (whichever is less).
| Upstox Charges | Equity Futures | Equity Options |
|---|---|---|
| Brokerage | Rs 20 per executed order or 0.05% (whichever is lower) | Flat Rs 20 per executed order. |
| STT | 0.1% (on Sell Side) | 0.1% (on Sell Side) |
| Transaction Charges | 0.0019% Exchange turnover charges | 0.050% Exchange turnover charges (on premium) |
| Demat Transaction Charges | Rs 0 | Rs 0 |
| GST | 18% (on Brokerage + Transaction Charges) | 18% (on Brokerage + Transaction Charges) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Duty | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Upstox Charges for Currency Trades
Upstox Currency’s commission is Rs 20 per executed order, which is 0.05%. (whichever is lower).
| Upstox Charges | Currency Futures | Currency Options |
|---|---|---|
| Brokerage | Rs 20 per executed order or 0.05% (whichever is lower) | Flat Rs 20 per executed order. |
| STT | No STT | No STT |
| Transaction Charges | NSE: 0.0009% | BSE: 0.00022% | NSE: 0.035% | BSE: 0.001% (on premium) |
| GST | 18% (on Brokerage + Transaction Charges) | 18% (on Brokerage + Transaction Charges) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Duty | 0.0001% (Rs 10 per crore) on buy-side | 0.0001% (Rs 10 per crore) on buy-side |
Upstox Charges for Commodities Trades
Upstox Commodity’s brokerage fee is Rs 20 per executed order, or 0.05%. (whichever is lower).
| Upstox Charges | Commodity Futures | Commodity Options |
|---|---|---|
| Brokerage | Rs 20 per executed order or 0.05% (whichever is lower) | Flat Rs 20 per executed order. |
| STT | 0.01% on sell trade (Non-Agri) | 0.05% on sell trade |
| Transaction Charges | 0.0026% (Non Agri) | 0.05% (Exchange turnover charges) |
| GST | 18% (on Brokerage + Transaction Charges) | 18% (on Brokerage + Transaction Charges) |
| SEBI Charges | 0.0001% (Rs 10/Crore) | 0.0001% (Rs 10/Crore) |
| Stamp Duty | 0.002% (Rs 200 per crore) on buy-side | 0.003% (Rs 300 per crore) on buy-side |
Account Opening
| Account Opening Process | Online And Completely Free |
| Account Opening Time | Less than 24 hours |
| Account Types | Demat and Trading Account |
Investment Options
| Equity | Yes |
| Futures and Options | Yes |
| Currency | Yes |
| Commodities | Yes |
| Mutual Funds | Yes |
| IPOs | Yes |
| Bonds | Yes |
| Margin Trading | Yes |
Research and Analysis
| Research Tools | Yes |
| Trading Ideas and Tips | No |
| Fundamental Analysis | Yes |
| Technical Analysis | Yes |
Education and Training
| Education and Training | Yes |
| Webinars and Seminars | Yes |
Customer Support
| Customer Support Channels | Phone, Email, Chat |
| Customer Support Timings | 9:00 AM to 11:00 PM (Monday to Saturday) |
| Branch Network | No |
Upstox Trading Platforms
Upstox provides a range of trading tools and top-notch trading platforms to ensure a hassle-free trading experience for all its customers. Let’s take a closer look at these platforms and tools.
Pro Web Trading Platform
Upstox Pro Web is a comprehensive trading platform that comes with a variety of features such as technical indicators and hotkeys for faster trading. Other notable features include:
- Online assistance to help traders make the most of the platform’s capabilities.
- More than 100 indicators to choose from, allowing customers to trade like a pro.
- Extensive market observation and confident trading.
Upstox Pro Mobile: (Mobile Trading App)
Upstox Pro Mobile is a mobile trading app designed for Android & iOS users. It allows for trading in multiple segments such as NSE cash, Futures and Options, and Currencies. Real-time charts with technical indicators and price alerts are available. Some of its other features include:
- Redesigned features like smart lists, smart filters, and daily market updates that help traders make informed decisions.
- Professionally developed strategies that can be utilized based on the investor’s risk profile.
- Maximum profit potential with minimal risk.
| Upstox Services | Trading Platform |
|---|---|
| User Experience | Distinctive |
| Real-time Market Information | Yes |
| Regular Alerts on Stock Prices and SIPs | Yes |
| User-friendly Interface | Yes |
| Technologically Advanced Interface | Yes |
| Price Alert Features | Yes |
| Live Market Depth | Yes |
| Advanced Charting Tools | Yes |
| Technical Indicators | Yes |
| Customizable Watchlist | Yes |
How to Open Demat Account in Upstox
Upstox’s trading tools and platforms are tailored to meet the needs of traders at all levels. From Pro Web Trading Platform to Pro Mobile, Upstox has got you covered Here are the steps to open a demat account online with Upstox:
1. ๐๐ป๐ First, visit Upstox Website or Download Upstox App
2. ๐ฑ Enter your mobile number and click on the Continue button.
3. ๐ข You will receive a 6 digit OTP on the given mobile number. Enter the OTP and click on the Confirm button.
4. ๐ง After that, enter your email ID and enter the 6 digit OTP to confirm.
5. ๐ Now enter your PAN number and date of birth, and click on Accept and Continue.
6. ๐ To share your Aadhaar information with Upstox, sign in to your Digilocker account. ๐๐ฝ Click on Allow to Access Aadhaar.
7. ๐ณ After that, enter your bank account information and basic details.
8. โ๏ธ Read all the instructions given and click on Continue after ticking all the checkboxes.
9. ๐ Now for online in-person verification (IPV), write down the ๐ OTP on a paper and keep it in front of the ๐ท camera.
10. ๐ Upload all your documents ๐, such as PAN, Aadhaar Card, Cancel Bank Cheque, Signature Verify Photo, and Income Certificate (mandatory only for derivative trading).
11. ๐ Now click on e-Sign Aadhaar ๐ฑ๏ธ.
12. ๐ฑ๏ธ Enter your ๐ Security Code and verify your ๐ง Email ID.
13. โ๏ธ Double-check the account opening form and click on Sign in Now ๐ฑ๏ธ.
14. ๐ Enter your Aadhaar number, enter the ๐ OTP to verify and click on the Submit button.
Your application has been submitted! Your Account Will Be Activated with in 24 Hours.
๐ Documents Requirements For Upstox Demat Account Opening
Upstox allows account opening with few documents.
- โ Adhaar๐
- โ Pan Card๐
- โ And A Bank Account
- โ Your Signature & Your Photograph
- ๐*Income proof (Optional): Proof of Income is required if you wish to trade in F&O or commodity.
Upstox Pros & Cons (Advantages & Disadvantages)
Here are some good things about Upstox. Before you open an account with Upstox, you should read about its pros and cons. The pros and cons of Upstox can help you decide if it’s a good Choice for you.
Pros
- Rs 0 Demat account opening & maintenance charges.
- Flat Rs 20 per trade for brokerage fees at BSE, NSE, and MCX for all segments, including delivery, intraday, and F&O.
- Trusted by More than 1 Crore+ Investors & Traders
- Margin Trading Facility: Equity Delivery Trading with a 2X leverage
- TradingView charts with 100+ indicators and 20+ drawing tools
- Availability of Both Mobile App & Web based Platforms
Cons
- Call and trade fees are an additional Rs 20 per executed order (Rs 20 for brokerage plus Rs 20 for call and trade fees).
- Research Advisory Services Are Not available
- Customer Support Service is Not Adequate
Need Help Opening Your Upstox Account?
Upstox provides help for customers who face difficulties opening an account. To get help, you can send an email to ๐ง [email protected] or give a โ๏ธ miscall to 022-48789991.
Upstox team will promptly respond and help you with account opening. ๐ป๐ฐ
Customer Reviews and Ratings of Upstox
| Experience | 8.9 / 10 |
| Trading Platform | 7.9 / 10 |
| Product & Services | 8.9 / 10 |
| Brokerage Charges | 9.7 / 10 |
| Research | 8.2 / 10 |
| Overall Rating | 8.89 / 10 |
| Star Rating | โ โ โ โ โ |
Upstox review Conclusion
we analysed Upstox, formerly known as RKSV Securities, has made great strides in recent years, overtaking several larger competitors in the Indian stock brokerage sector, including HDFC Securities, ICICI Direct, Kotak Securities, Motilal Oswal, Angel Broking, etc.
Because of its competitive pricing, user-friendly design, and state-of-the-art trading platforms, it has quickly risen to the top of the list for traders and investors across India. To create a demat and trading account, Upstox is the best option for those in need of a trustworthy trading platform, solid history, and reasonable brokerage fees.
Please share your thoughts about Upstox in the comments. Please share your thoughts on the strengths and areas for development of this discount brokerage, Upstox. Don’t Miss the opportunity to open free demat account with upstox.
Upstox Registration & Licenses
| SEBI Registration No. | INZ000185137 |
| NSE Member Code | 13942 |
| BSE Clrg Code | 6155 |
| CDSL | IN-DP-CDSL-00282534 |
| NSDL | IN-DP-NSDL-11496819<br>IN-DP-NSDL-11497282 |
| RKSV Commodities MCX Member Code | 46510 |
| SEBI Regn. No. | INZ000015837 |
| Registered Address | 807, New Delhi House Barakhamba Road, Connaught Place, New Delhi- 110001. |
| Correspondence Address | RKSV/Upstox, 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra 400013. |
Frequently Asked Questions (FAQs)
What are the fees for opening an Upstox account?
The Upstox Demat Account Opening fees are free of cost.
What are the AMC charges for Upstox?
Upstox stands out as the best stock broker as they offer lifetime no AMC charges.
Is Upstox a safe platform for trading and investment purposes?
Yes, Upstox is a safe and reliable platform for trading and investment purposes. It is registered with SEBI and is a member of NSE, BSE, and MCX.
How can I open a demat account with Upstox?
You can open a demat account with Upstox by visiting its website and completing the online account opening process. You need to provide your personal details and upload your ID proof and address proof documents.
What are the brokerage charges for options trading with Upstox?
The brokerage charges for options trading with Upstox are Rs. 20 per executed order
What is Upstox?
Upstox is a leading discount brokerage firm that provides online trading services in India.
How can I open an Upstox account online ?
1. Go to the Upstox website and click on “Open an Account” in the top right corner.
2. Enter your mobile number and email address to receive an OTP for verification.
3. Fill in your personal details and upload your PAN card, Aadhaar card, and a cancelled cheque or bank statement for verification.
4. Choose the type of account you want to open and the trading platform you want to use.
5. E-sign the account opening form using your Aadhaar OTP or DigiLocker account.
Is Upstox a good or bad platform for trading ?
Upstox is a reliable and trustworthy platform for trading that offers competitive pricing and advanced features.
Is Upstox free to use?
Upstox offers free account opening and maintenance, but there are brokerage charges applicable for trading.
Can I trust Upstox for trading ?
Yes, Upstox is a trusted platform for trading that uses advanced technology to ensure the safety and security of its customers’ funds and data.
How can I buy stocks on Upstox?
1. Login to your Upstox account using your credentials
2. Go to the “Trade” section and select “Equity”
3. Enter the stock name or symbol and select “Buy”
4. Enter the quantity of shares you want to buy and the price you’re willing to pay
5. Review the details and confirm the order
6. Wait for the order to be executed and the shares to be credited to your demat account
Can I buy IPOs through Upstox?
Yes, Upstox allows its customers to apply for IPOs through its platform.
How can I close my Upstox account?
Sure, here’s how to close your Upstox account in simple steps:
1. Login to your Upstox account either through the mobile app or the web portal.
2. Click on your name at the top left corner of the screen.
3. Go to the “Account” tab and click on “Profile”.
4. Click on “View All” option placed next to “Account”.
5. Click on the 3 lines at the top left corner.
6. Click on “Account Closure” under the “Account” section, which will take you to the account closure page.
7. Click on the “Close Account” button.
8. You will be redirected to the “Account Closure Request” page.
9. Choose the reason for closing your account from the options provided.
Click on “Close Account”.
Before submitting the closure request, make sure you have cleared all outstanding dues, closed all open F&O trade positions, sold or transferred holdings from your Demat account, redeemed any mutual funds in your account, and cleared off any Digi Gold balance from your account.
What is a stop-loss order in Upstox?
1. A stop-loss order is an order to sell a stock when it reaches a certain price to limit your losses.
2. In Upstox, you can place a stop-loss order as a trigger order with a limit order attached.
3. For example, if you want to sell a stock at Rs. 100 and limit your losses to Rs. 5, you can place a stop-loss trigger order at Rs. 95 with a limit sell order at Rs. 100.
Can I invest in mutual funds through Upstox ?
Yes, Upstox offers a platform for investing in mutual funds.
Can I buy direct mutual funds through Upstox?
Yes, Upstox offers both direct and regular mutual funds.
What are the different types of orders that can be placed on Upstox?
The different types of orders that can be placed on Upstox include limit order, market order, stop loss order, stop loss limit order, and bracket order.
Does Upstox offer margin funding?
Yes, Upstox offers 2X margin funding to its customers, which allows them to trade with a margin that is higher than their account balance.
Does Upstox charge any brokerage for mutual fund investments?
No, Upstox does not charge any brokerage for mutual fund investments. However, there may be other charges, such as transaction charges and GST.
What is Upstox Pro?
Upstox Pro is a trading platform offered by Upstox that allows customers to trade in equities, derivatives, and commodities on NSE, BSE, and MCX.
How do I withdraw money from Upstox?
1. Log in to your Upstox account and navigate to the “Funds” tab.
2. Click on “Withdraw” and enter the amount you want to withdraw.
3. Select the bank account you want to withdraw the funds to and click on “Submit.”
4. The funds will be credited to your bank account within 24-48 hours.
Also Read our in depth Reviews on other Stock Brokers
| Stock Broker | Review |
|---|---|
| Upstox | Read Review |
| Groww | Read Review |
| Angel One | Read Review |
| Fyers | Read Review |
| Upstox | Read Review |
| Paytm Money | Read Review |
| Zerodha | Read Review |
Disclaimer: The information in this article is only meant to be educational and informative. It should not be taken as financial advice. Investing in the stock market comes with risks. Before making any investment decisions, readers should carefully think about their own investment goals and how much risk they are willing to take. Before making any investment decisions, the reader should talk to a qualified financial advisor.