by admin | August 26, 2024
Last updated on August 26,2024,
Previously known as RKSV Securities, Upstox is one of the leading stockbrokers in India and allows investors to . If you are looking to invest in stock through Upstox, here is a detailed Upstox review that would held understand all major things about the discount stockbroker from its brokerage to trading platforms, account maintenance charges, benefits, complaints, and others.
So, let’s start and take a look.
Table of Contents
Upstox Overview
| Company Type | Private |
| Headquarters | Mumbai |
| Founder | Raghu Kumar |
| Establishment Year | 2011 |
| Broker Type | Discount Broker |
| Active Clients | 38 Lakhs+ |
| Account Opening Charges | Free |
| Open Upstox Account | Click Here |
About Upstox
Founded in 2010, Upstox is one of the most popular discount stockbrokers in India offering low-stock stock brokerage services to people. Upstox is supported by renowned names including Ratan Tata, Kalaari Capital, and GVK Davix. The stockbroker enables investors to invest across different categories like equities, currency, commodities, futures, and options. The stockbroker is primarily known for its tech-driven initiatives that make it among the top discount brokers in the country.
Features of Upstox 2024
- Easy and seamless account access
- Availability of three platforms – mobile app, browser, and desktop terminal
- Maximum Rs. 20 per order brokerage across all trading categories
- Free mutual funds and IPO investment
- Insightful TradingView and Chart IQ Charts
- One-click Order Placement
- Direct trading from charts
- Zero account opening charges
- Free API access
- Lowest brokerage of Rs. 20 per order
Upstox Account Opening Charges 2024
| Trading Account Opening Charges | 0 |
| Trading Account AMC | 0 |
| Demat Account Opening Charges | 0 |
| Demat Account AMC | Rs 150 |
Upstox Brokerage Charges 2024
| Segments | Brokerage Charges |
| Equity Delivery | 2.5% or Rs 20 whichever is lower |
| Equity Intraday | 0.05% or Rs 20 whichever is lower |
| Equity Futures | 0.05% or Rs 20 whichever is lower |
| Equity Options | Rs. 20 |
| Currency Futures | 0.05% or Rs 20 whichever is lower |
| Currency Options | Rs. 20 |
| Commodities | Rs. 20 per executed order |
Upstox Margin
| Category | Intraday | Overnight Positions | ||
| MIS | C/O | B/O | ||
| NSE Cash | 5x | 5x | 5x | 1x |
| BSE Cash | 5x | 5x | 5x | 1x |
| Equity/Index Futures | 2x | 2x | 2x | 1x |
| Equity/Index Options Buying | 1x | 1.33 | 1.33x | 1x |
| Equity/Index Options Writing (Selling) | 2x | 2x | 2x | 1x |
| Currency Futures | 2x | 2x | 2x | 1x |
| Currency Options Buying | 1x | 1x | 1x | 1x |
| Currency Options Writing | 2x | 1x | 1x | 1x |
| MCX Futures | 2x | 2x | 2x | 1x |
| MCX Options | 1x | 1x | 1x | 1x |
Upstox account opening procedure
Below is a step-by-step guide on how to open an account with Upstox.
- Visit Upstox website
- Enter your email id and mobile number
- Verify the entered information through an OTP
- Enter your PAN number and birth date
- Do e-KYC
- Choose trading categories
- Enter the bank details
- Upload specimen signature and income proof
- Link Digilocker with Upstox
- Fetch your documents from the Digilocker
- Upload your photograph and share the location
- Verify Email ID with OTP
- Pay account opening charges online
- Finish the process by e-signing through an OTP
Documents required for Upstox account opening
- PAN Card
- Aadhaar Card
- Cancelled Cheque
- Passport Size Photograph
- Latest Six Months Bank Statement
Upstox Trading Platforms 2024
Upstox is known for its advanced trading platforms that are available for mobile, desktop, and browser. The discount broker provides both its in-house as well as partner trading platforms to its clients. All the major trading platforms offered by Upstox are:
- Pro Web (Web-based Trading Platform)
- Pro Mobile (Mobile Trading App)
- Desktop Trading Terminal
| Upstox Android App Download | Android App |
| Upstox iOS App Download | iOS App |
| Upstox Web Trading Platform | Web Trading |
1. Upstox Pro Web
Built on the latest HTML 5 technology, Pro Web is a browser-based trading platform. It can be accessed from any browser on a laptop, desktop, or mobile. It offers a wide array of features that help in seamless stock trading by understanding the sentiments of the stock market.
Key features of Pro Web
- Prepare watchlists and monitor selected scrips
- Advanced charting features with 100+ technical indicators
- Quick order placements with Cover Orders (CO)
- Pre-define your order preferences & place orders in risky situations.
- Personalize workspaces and utilize widgets for a customized trading experience
- Easy access to different reports
- View and check your portfolio
- Keyboard shortcuts (hotkeys) for quicker trading
- Upstox mutual funds platform
- Timely Alerts
2. Upstox Pro Mobile
As its name indicates, Upstox Pro Mobile is mobile-based trading software available on both iOS and Android platforms. This advanced mobile trading app enables users to trade in stock from anywhere. It is a very popular mobile trading app on both the mobile platforms with excellent ratings. You can easily find an Upstox app review to gain more insights.
Its major features are:
- Unified search tool to discover stocks and contracts.
- Access to different categories including NSE cash, Futures and Options, and Currencies scrips
- Next-level charting features
- Charts of various intervals, types, and drawing patterns
- Real-time charting with 100+ technical indicators
- Place orders right from charts
- Define price alerts for quick updates
- Prepare n number of watchlists
- Access to real-time market feeds
- Preset watch-list of Nifty 50 and other indices
3. Upstox Desktop Trading Platforms – Dartstock, FoxTrader, and Nest Trader
Upstox has partnered with different service providers to offers its desktop terminal software solutions that include Dartstock, FoxTrader, and Nest Trader. Let’s look at their features below.
- Darkstock
- Time & Sales Filter that help in discover markets with filters given the Quantity, Sector, Index, or customized watchlist group.
- Real-time Scanner to explore markets for scrips with Highs & Lows for the day, week, month and year.
- Trend Scanner to locate the bullish or bearish areas. It also checks variations in the Open Interest (OI) of options.
- Opportunity Finder to discover scrips that match the standards of three elements including PE Ratio, Market Cap, Traded Volume, Turnover, 1-year return etc.
- Specific watchlists for Resistance & Support Watch, high traded volume stocks, Intraday Recovery & Fall scrips.
- Next-gen charting tools with Intraday history & daily historical data, comparison of charts scrip by scrip, chart patterns and customized charts.
- FoxTrader
Reliable Software India Pvt. Ltd., an Upstox partner, owns the platform to provide you with the. With the desktop program, traders may backtest their techniques, evaluate markets using a variety of charting tools, and trade more profitably. Among the platform’s salient characteristics are:
- Simple backtesting to analyze historical data with more than 200 conditions and 300 studies.
- Real-time market monitoring with live scanning.
- Utilize scanners and charts to run tactics.
- Use APIs to automate strategies.
- View and track the P & L and current positions.
- Automate stop levels and trailing stops.
- Nest Trader
One of the most well-known internet trading platforms in India is owned by Thomson Reuters. The platform’s salient characteristics include:
- Adaptable interface that you may personalize to your trading needs with different layouts, fonts, colors, etc.
- Instant refresh rates and rapid data streaming.
- Stable under heavy loads.
- Data is streamed to several monitors.
- High-end charting featuring over 60 indicators and several chart formats.
- Advanced Order Types like Cover Order.
- Completely programmable shortcuts and hotkeys for quicker trading.
Upstox Demat Account 2024
Upstox has been registered as a depository participant (DP) with CDSL and NDSL, two main depositories in India.
The membership details are as follows:
CDLS – SEBI Registration Number: IN-DP-118-2015
CDSL – RKSV Sec CDSL DP ID: 12081800
Major Features of Upstox Demat Account
- 1 lakh+ clients. 15k+ Cr daily turnover.
- Digital quick account opening.
- Designated broker for 10+ years. Very few complaints from customers.
- Straight Rs. 20 per execute order or 0.05% whichever is less.
- Online demat account management
- Availability of both CDSL and NCDL demat accounts.
- Basic Service Demat Account (BSDA) for securing a value up to Rs 50,000.
- Safe to keep your holdings.
- Quick online customer support
- Easy transfer of shares from existing Demat
- Option to invest in Equity, MFs, Corporate FDs, Insurance, etc. with a single Demat account
- Corporate benefits such as bonuses, dividends, interest, etc.
Upstox Demat Account Charges
| S. No. | Transaction Type | Charges |
| 1 | Demat Account Opening Charges | Rs 0 (Free) |
| 2 | Transaction Charges (Buy) | |
| 3 | Transaction Charges (Sell) | Rs 13 + Rs 5.50 (CDSL charges) per scrip. |
| 4 | Annual Maintenance Charges (AMC) | Rs 150 |
| 5 | Demat + Courier charges | Rs 2.00 per certificate plus courier charges of Rs 35 per demat request |
| 6 | Remat | Rs 25 per certificate or 0.05% of the value whichever is higher. |
| 7 | Pledge Creation | 0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual. |
| 8 | Pledge Creation Confirmation | 0.02% of the transaction charges subject to a minimum of Rs 50 plus NSDL / CDSL charges at actual. |
| 9 | Pledge Invocation | 0.05% of the transaction charges subject to a minimum of Rs 50 |
| 10 | Failed Transactions | Rs 50 per transaction |
| 11 | Other Charges | Demat Rejection Charges: Rs. 35 per rejection for every 500 gms. Adhoc / Non periodic statement requests: Rs 25 (Rs 500 for foreign address) per request up to 10 pages. Every extra 5 pages or a part will be charged Rs 10 along with courier/postage charges. Cheque Bounce charges: Charges will be based on charges as chosen by the bankers. |
Upstox Customer Support
| Trading Support:- Available, Chargeable | Dedicated Dealer:- Available, Chargeable |
| Support Desk Helpline:- 022-41792999 | Email Support:- [email protected] |
| Website:- Upstox Website | |
| Telegram |
Upstox Complaints 2024
Upstox complaints are categorized given the exact type of problem its clients are facing. This data is provided by the BSE and NSE which is then analysed by the stockbroker. You can refer to the following table to know the total no. of Upstox complaints over the past few years.
| Exchange | Financial Year | Total Complaints | Active Clients |
| BSE | 2023-24 | 37 | 783,887 |
| NSE | 2023-24 | 209 | 2,401,555 |
| BSE | 2022-23 | 28 | 766,578 |
| NSE | 2022-23 | 402 | 2,880,604 |
| BSE | 2021-22 | 43 | 499,893 |
| NSE | 2021-22 | 502 | 5,215,523 |
| BSE | 2020-21 | 7 | 143,126 |
| NSE | 2020-21 | 862 | 2,141,095 |
| BSE | 2019-20 | 11 | 142,797 |
| NSE | 2019-20 | 164 | 619,305 |
| BSE | 2018-19 | 7 | 22,381 |
| NSE | 2018-19 | 58 | 92,781 |
| BSE | 2017-18 | 2 | 24,483 |
| NSE | 2017-18 | 35 | 43,889 |
| BSE | 2016-17 | 1 | 3,910 |
| NSE | 2016-17 | 21 | 17,229 |
| BSE | 2015-16 | 1 | 3,049 |
| NSE | 2015-16 | 10 | 10,622 |
| NSE | 2014-15 | 4 | 7,372 |
| BSE | 2013-14 | 1 | 340 |
| NSE | 2013-14 | 1 | 4,631 |
Upstox Complaints at NSE
| 2023-24 | 2022-23 | 2021-22 | |
| Active Clients | 2401555 | 2880604 | 5215523 |
| Complaints | 209 | 402 | 502 |
| Resolved through the exchange | 196 | 347 | 402 |
| Non actionable | 8 | 36 | 77 |
| Advised / Opted for arbitration | 0 | 0 | 0 |
| Pending redressal with the stock exchange | 5 | 19 | 23 |
| No. of arbitration filed by clients | 1 | 4 | 3 |
| Decided by arbitrators in favour of the clients | 1 | 4 | 2 |
| Decided by the arbitrators | 0 | 0 | 0 |
| Pending redressal with arbitrators | 0 | 0 | 1 |
Upstox Complaints at BSE
| 2023-24 | 2022-23 | 2021-22 | |
| Active Clients | 783887 | 766578 | 499893 |
| Complaints | 37 | 28 | 43 |
| Resolved through the exchange | 34 | 24 | 43 |
| Non workable | 7 | 8 | 5 |
| Advised / Opted for arbitration | 0 | 0 | 0 |
| Pending for redressal with the stock exchange | 3 | 4 | 0 |
| No. of arbitration submitted by clients | 0 | 0 | 0 |
| Decided by arbitrators in favor of the clients | 0 | 0 | 0 |
| Decided by the arbitrators | 0 | 0 | 0 |
| Pending redressal with arbitrators | 0 | 0 | 0 |
Conclusion
Upstox is largely considered a technology-driven discount broker in India. A trader or investor can trade across different categories including currency, commodity, equity, futures, options, etc. Upstox emerges the most preferred choice for those who want a high level of transparency along with affordability. Features like digital account opening, live portfolio tracking, and faster transfers make Upstox a true winner in its category. Hopefully, the given Upstox Review will help you make your decision wisely.
FAQs on Upstox Review
Check various FAQs regarding upstox review here.
Q.1. Is Upstox reliable?
Ans:- Well supported by RKSV Securities India Pvt Ltd., Upstox is a registered broker with SEBI. It has been doing business since 2012 which clearly indicates that it is a reliable name to go with.
Q.2. Do I need to maintain any minimum amount in my Upstox trading account?
Ans:- There is no need to maintain any minimum amount in your Upstox trading account. You can put in any amount and start trading in stocks through your Upstox account.
Q.3. Is there any daily withdrawal limit in Upstox?
Ans:- Using Instant withdrawal, you can take out as much as ₹5 lakhs (₹100,000) per day from your commodities and securities wallet. After a pay-out request is generated, the money gets deposited to the linked bank account in 15 minutes.
Q.4. Is Upstox free for lifetime?
Ans:- Yes, Upstox charges zero Annual Maintenance Charges (AMC) to its clients.
Q.5. What is the most exclusive feature of Upstox?
Ans:- Access to multiple asset classes: Upstox lets its clients invest in a wide array of asset categories, such as stocks, mutual funds, and others. Easy Accessibility: Upstox mobile trading app is easier to use and allows traders and investors to trade from anywhere, anytime.
Q.6. Are Upstox and RKSV the same?
Ans:- RKSV Securities uses Upstox as its brand for its retail brokerage services. They are the same.
Under the RKSV brand, RKSV Securities began providing retail brokerage services at the beginning of 2012. The business changed the name of its services to Upstox in May 2016. Under the name RKSV Securities Pvt Ltd, the company is registered with the NSE, BSE, MCX, CDSL, and SEBI.