Upstox Review 2023 – Brokerage, Demat & Trading Platform
Upstox is one of the most advanced and India’s one of the leading brokers in India. It offers online trading platform for stocks, derivatives and commodities. Before being named as Upstox, it was previously known as ‘RKSV Securities’. RKSV securities (Upstox), received trading license in the year 2010 under the name of ‘RKSV Securities Pvt. Ltd.’. In the year 2012, they entered into the retail trading business becoming the first to launch the unlimited trading plans.
Investment by Leading Venture Capital
In 2016, Upstox received its first round of funding, Series A, worth $4 million from Kalaari Capital, one of the leading venture capital firms in India. This funding was a significant milestone for it, as it helped the company to accelerate its growth plans and expand its operations across India.
The investment from Kalaari Capital was a testament to the potential of Upstox and its innovative approach to online trading. The firm had quickly established itself as a disruptor in the industry, offering a range of advanced trading tools, superior customer support, and competitive pricing.
RATAN TATA’s Investment
Along with Kalaari Capital, in the same year, Upstox was funded by Mr. Ratan Tata, one of the most respected business leaders in India. The investment from Mr. Tata was a significant endorsement of it’s potential and its mission to make trading accessible to everyone in India.
Mr. Tata’s investment was also an indication of his confidence in the management team at Upstox, led by Mr. Raghu Kumar, who has over 15 years of experience in the financial services industry.
From ‘RKSV’ to ‘UPSTOX’
In 2016, RKSV Securities became Upstox and launched a completely paperless account opening process, becoming the first company in the industry to do so. This was a significant achievement for the company and helped to establish it as a pioneer in online trading in India.
The paperless account opening process was a game-changer for the Indian financial services industry, as it helped to reduce the time and cost involved in opening a trading account. It also helped to streamline the process and make it more convenient for customers, who could now open an account from anywhere, at any time.
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Upstox’s Association with TNPL, IPL, and ICC
In 2021, Upstox made headlines by becoming the official partners for the Tamil Nadu Premier League (TNPL), Indian Premier League (IPL), and International Cricket Council (ICC).
The TNPL is a professional Twenty20 cricket league based in the Indian state of Tamil Nadu. it’ss partnership with TNPL is a strategic move to tap into the rapidly growing cricket fan base in Tamil Nadu and showcase its services to a wider audience.
The IPL, on the other hand, needs no introduction. The biggest cricketing event in the country, IPL attracts millions of viewers and generates massive interest from sponsors and advertisers. it’s partnership with IPL is a major coup for the company, as it provides a platform to showcase its services to a massive audience.
Last but not least, it’s partnership with ICC is a major milestone for the company. The ICC is the apex body for cricket, and its events attract viewers from across the globe.
- NRI Trading
Margins(Exposure) on Upstox
|Order Type||Margin On Equity||Margin on Index and Stock Futures, Index & Stock Option Sell, Currency & MCX Futures|
|Margin Trading Facility||2x||Not Applicable|
Note: No Margin for Option Buyers
Is MTF(Margin Trading Facility) chargeable at Upstox?
Yes, the following charges are applicable on MTF orders over and above the regular brokerages charges
|Interest||₹20/day for every slab of ₹40,000 taken as MTF|
|Pledging charges||The cost of pledging, as well as un-pledging, is ₹20 + GST per scrip.|
Upstox Brokerage Charges
|Type of Trade||Charges|
|Equity Delivery||Rs.20 per trade order or 2.5% (whichever is lower)|
|Equity Intraday||Rs.20 per trade order or 0.05% (whichever is lower)|
|Equity Futures||Rs.20 per trade order or 0.05% (whichever is lower)|
|Equity Options||Rs.20 per trade order|
|Commodity Options||Rs.20 per trade order|
|Commodity Futures||Rs.20 per trade order or 0.05% (whichever is lower)|
|Currency Futures||Rs.20 per trade order or 0.05% (whichever is lower)|
|Currency Options||Rs.20 per trade order|
|Mutual Funds||0 Rs.|
To open a new account, simply follow these steps:
- To start investing with Upstox, you can either visit their website at UPSTOX and enter your mobile number followed by clicking on ‘Start Investing’, or simply click on ‘Create Account’.
- Once you proceed via their website, a new page will open where you will need to sign up using your email address and mobile number.
- To verify your mobile number, create a new 6-digit PIN and confirm it.
- To verify your email address, enter your 10-digit mobile number and enter the OTP that you receive. Then, create a 6-digit PIN and confirm it. After this, click on the ‘Create Upstox Account’ button at the top of the page to proceed.
- During the account opening process, you will be required to keep handy your Aadhaar and PAN card.
- Enter your PAN card number along with your Date of Birth as per the PAN card and click ‘Next’.
- Next, enter your personal details and click ‘Continue’.
- Verify your address details.
- Enter your digital signature in the white box.
- Click on ‘Connect your Digilocker with Upstox’ and allow data sharing by clicking ‘Allow’ and ‘Proceed’.
- On the next screen, allow the application to access your Digilocker by clicking ‘Allow’.
- You will then need to allow camera access to capture a live photograph as per the requirements mandated by SEBI.
- Take a photo as per the instructions and click on ‘Accept’. If the photo is not clear, click on ‘Retake Photo’.
- Enter your bank details.
- On the next page, you will see details on the account opening and brokerage plan benefits.
- After selecting your brokerage plan, you can select and activate F&O, Currency and Commodity segments, or skip this step.
- Add up to 3 nominees for your Demat Account and fill in their details correctly.
- Upload the identity proof of your nominees and guardians if they are underage.
- Confirm the nominee details summary and click on ‘Continue’.
- E-sign your application and enter the OTP that you receive on your Aadhaar linked mobile number. If you select the eSign option, enter the OTP sent to your registered mobile number with Upstox, followed by entering your Aadhaar number and ticking the terms & conditions box before clicking on ‘Get OTP’ to complete the process.
Once you have successfully completed the Upstox Account Opening process you can also track your application with status. It will take up to 4 working days to verify and activate your Upstox account.
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|Shortfall collection for each client||Penalty percentage of the shortfall|
|(< ₹1 lakh) and (< 10% of applicable margin)||0.50%|
|(>= ₹1 lakh) or (>= 10% of applicable margin)||1.00%|
Margin Shortfall Penalty at Upstox
- If there are more than 5 instances of a shortfall in a calendar month, a penalty of 5% for every further instance of the shortfall is applicable
- If the margin shortfall continues for more than 3 consecutive days, a penalty of 5% is applied for each subsequent instance of the margin shortfall
- For MCX, if the margin shortfall is reported 3 times or more during a month, i.e., either in consecutive instances or in 3 different instances, the penalty would be 5% from the 4th instance of the shortfall
Charges for other services at Upstox
Shortfall collection of each client
|Margin Against Demat Holdings (can be used for Futures buy and sell and Options Sell orders only||₹50 + GST per scrip for pledging|
₹50 + GST per scrip for un-pledging
|Auto Square-off||₹50 + 18% GST|
|Call & Trad||₹50 + 18% GST|
|P&L/ CMR Physical copy||₹20 per page|
|Annual Maintenance Charges||₹150 + 18% GST|
|Quarterly Maintenance Charges||₹75+ 18% GST|
|Off-market (to transfer shares between brokers)||1. Buy orders will continue to be charged at ₹100 or 1.5% of the transaction amount (whichever is lower)|
2. ‘Invest More’ orders will be charged at ₹100 or 1.5% of the transaction amount (whichever is lower).
3. SIP orders will be charged at ₹10 or 1.5% of the transaction amount (whichever is lower)
|Netbanking charges (Razorpay / Atom)||₹7 (GST included)|
|Buyback/Takeover/Delisting Charges||₹20 + GST|
|Offer For Sale||₹20 + GST|
|Account Opening Fees||₹0|
|Referral Agent Registration Fee||₹499 (GST included)|
|Webinars and Workshops||Starting at ₹49 + 18% GST|
|API Subscription Charges||₹499 (GST included)|
Upstox has made significant progress since its inception in 2011 under the name RKSV Securities. The company has undergone a remarkable transformation and growth, which is evidenced by the pivotal achievements it has accomplished in 2016. These accomplishments include being supported by some of the biggest names in the business such as Kalaari Capital and Mr. Ratan Tata.
It has continuously introduced new and innovative ways of disrupting the industry, such as its fully paperless account opening process. The company has also demonstrated its dedication to pushing boundaries and attaining new heights through its partnerships with major sports leagues and organizations.
Through its easy-to-use interface, competitive pricing, and customer-oriented approach, it has become a popular choice among traders and investors in India. The company’s unwavering commitment to providing its users with the most cutting-edge tools and technology has helped it establish a reputation as a reliable and trustworthy platform in the industry.
As it continues to expand and develop, it is destined to make even more significant strides in the years ahead. It will be thrilling to observe the novel innovations and partnerships that the company will bring forth.
If you are seeking a dependable and pioneering trading platform, it is unquestionably worth exploring.
What is Upstox?
Upstox is a popular discount brokerage firm based in India that provides online trading services for stocks, commodities, currencies, and other financial instruments. It was founded in 2011 and is headquartered in Mumbai.
It offers a variety of trading platforms, including a mobile app, a web-based platform, and a desktop trading software. The company also provides educational resources and market research tools to help traders make informed investment decisions.
One of the main features that sets Upstox apart from other brokerage firms in India is its low fees and commissions, which make it an attractive option for traders looking to keep their trading costs low. It has gained popularity among retail investors and traders in India due to its user-friendly interface and competitive pricing.
Is Upstox safe?
Yes, Upstox is safe. It is registered with the Securities and Exchange Board of India (SEBI) and is a member of various stock exchanges in India. It also uses advanced security measures to protect its users’ data and transactions.
How can I add money to my Upstox account?
You may add/transfer funds into your Upstox account from a registered bank account via different modes.
Mode of Payment
- Net Banking
- UPI transfer
- Google Pay (GPay)
Is Upstox owned by Tata?
No, Upstox isn’t owned by TATA, but it is backed by TATA Group.
Does Upstox have Refer and Earn program?
Yes, Upstox has refer and earn program. One can earn ₹300 when they open an account by reference. You can gain an additional ₹200 when they place their first trade.
Is Upstox Brokerage Calculator available?
Yes, Upstox provides a brokerage calculator on their website which allows traders to calculate the brokerage and other charges for their trades. The calculator takes into account various factors such as the type of instrument traded, the quantity of shares traded, and the exchange where the trade is executed.
Is it available? Upstox app for PC?
Yes, Upstox offers a desktop trading software called Nest Trader, which can be downloaded and installed on a desktop computer. Nest Trader is a trading platform that is designed for advanced traders and offers a wide range of features and tools to help traders make informed decisions about their trades.
To download and install Nest Trader on a desktop computer, you can follow these steps:
- Go to the Upstox website and click on “Trading Platforms” in the top menu.
- Click on the “Nest Trader” tab and then click on “Download Nest Trader” button.
- Choose the appropriate version of Nest Trader for your operating system (Windows or Mac) and click on the “Download” button.
- Once the download is complete, run the installation file and follow the instructions to install Nest Trader on your desktop.
- After installation, login with your Upstox account credentials to access the Nest Trader platform.
What trading products are available with Upstox?
Upstox offers a range of trading products for traders and investors to trade. Some of the trading products available include:
- Mutual Funds
Does Upstox offer research and analysis tools?
Yes, Upstox offers research and analysis tools to help traders make informed trading decisions. Some of the research and analysis tools available on include:
- Daily market insights: Upstox provides daily market insights through its blog and newsletter, which includes news and analysis on the Indian markets.
- Advanced charting: Upstox provides advanced charting tools with over 100 technical indicators and chart types to help traders analyze market trends and patterns.
- Real-time data: Upstox offers real-time data on the markets, including live prices, market depth, and charts to help traders stay up-to-date with market movements.
- Option chain analysis: Upstox provides option chain analysis tools that allow traders to visualize and analyze option prices and volumes to identify potential trading opportunities.
- Stock screener: Upstox offers a stock screener tool that allows traders to filter and screen stocks based on various parameters such as market capitalization, price, and volume.
- TradingView: Upstox has partnered with TradingView to offer an advanced charting and analysis platform that provides real-time data and access to a global community of traders.
These research and analysis tools are available on the Upstox trading platform and mobile app, allowing traders to access them from anywhere at any time.
Upstox vs Zerodha. Which is better?
Sure, here are the points in a bullet-point format:
- Zerodha has maintained a strong management team and consistent business strategy since 2010, in contrast to Upstox’s frequent changes in management and business strategy.
- Upstox offers integration with third-party trading platforms like Dartstock, Fox Trader, and NEST Trader, while Zerodha only provides Kite as a trading platform.
- Both brokers provide customer support, but Zerodha invests heavily in technology, resulting in a superior trading platform, trading tools, and customer support.
- Additionally, Zerodha has self-serving support portals, forums, Q&A sections, and educational initiatives like Varsity.
Does Upstox have Annual Charges?
Upstox Charge 0 Rs. annually. There are No Annual Charges.
What is Upstox Smart WebX (webex) ?
Upstox offers a web-based trading platform called Upstox Smart WebX, which enables investors to trade stocks, derivatives, currencies, and commodities directly from their web browser. The platform is user-friendly and equipped with advanced charting tools and real-time market data, ensuring a seamless trading experience for users.
Upstox Share Price
Upstox is not currently a listed company as it is a privately held firm. It is owned by RKSV Securities India Pvt. Ltd., which is registered with the Securities and Exchange Board of India (SEBI) as a stockbroker and depository participant.
Upstox has a number of partners, including fintech companies, banks, and other financial institutions. These partnerships help Upstox expand its reach and provide additional services to its customers. Some of Upstox’s partners include IndusInd Bank, Flipkart, Ola, and Paytm Money.
Upstox Pro Login
Upstox Pro is a powerful and user-friendly HTML-based trading platform available in India. To log in, you can visit the website, select “Upstox Pro Web” from the dropdown menu on the login page, and enter your login ID and password. Alternatively, you can also log in through the Upstox Pro mobile app by downloading it from the App Store or Google Play Store and using your login credentials. Once you have logged in, you can access a range of advanced trading tools and features to help you make informed investment decisions.