Upstox Review

Upstox is an Indian online discount brokerage platform that offers a variety of financial products and services, including stocks, derivatives, and commodities. The platform is designed to be user-friendly and accessible, making it a good option for both beginner and experienced traders.

One of Upstox's key features is its competitive pricing. The platform charges low brokerage fees, which can save traders money. Upstox also offers a variety of trading tools and resources, such as real-time market data and charting tools, to help traders make informed decisions.

In addition to its competitive pricing and trading tools, Upstox also prioritizes security and reliability. The platform uses robust security measures to protect user data and transactions. Upstox is also committed to maintaining stability even during periods of market volatility, which can help traders avoid losing money.

Overall, Upstox is a good option for traders who are looking for a user-friendly, affordable, and secure platform. The platform offers a variety of features and services to help traders succeed, and it is backed by a strong reputation.

 

Pros	Cons
Low brokerage fees	No brokerage-free equity delivery trades
Variety of trading platforms	Some users have reported technical issues with the trading platforms
Good customer support	Not available in all countries
Backed by reputed investors	Account opening process can be lengthy
Easy account opening process	Margin trading is not available for all users
Free demat account	Research and educational resources are limited

 

Intro of upstox

Upstox is an online discount stock broker that offers a variety of trading platforms and services to Indian investors. It was founded in 2010 by Ravi Kumar Sharma, Shriniwas Sadhu, and Abhinav Chaturvedi. The company is headquartered in Mumbai, India.

 Upstox is a popular choice for Indian investors, and it has been consistently ranked as one of the best stock brokers in India. If you are looking for a low-cost, reliable, and easy-to-use stock broker, Upstox is a good option to consider.

 

Upstox Account Opening Charges

·       Account opening charges: FREE

·       Demat account maintenance charges: Rs. 100 per year

Steps to open a trading account with Upstox:

1. Go to the Upstox website and click on the "Open Account" button.
2. Fill out the online application form and submit it.
3. Upload the required documents, such as your PAN card, Aadhaar card, and bank statement.
4. Pay the account opening charges, which are Rs. 0.
5. Your trading account will be activated within a few days.]

Margin Trading Facility (MTF) charges

MTF stands for Margin Trading Facility. It is a facility offered by Upstox that allows you to trade with more money than you have in your account. This can help you to increase your profits, but it also comes with increased risk.

To avail of MTF, you need to have a margin account with Upstox. You can open a margin account by depositing a minimum of Rs. 50,000.

Once you have a margin account, you can borrow money from Upstox to trade. The amount of money you can borrow depends on your trading experience and the risk profile you choose.

 

Order type	Applicable margin on Equity	Applicable margin on Index Futures and Stock Futures	Applicable margin on Index and Stock Option Sell	Applicable margin on NSE Currency Futures	Applicable margin on MCX Futures
Intraday order	5x	1x	1x	1x	1x
CO/OCO order	5x	1x	1x	1x	1x
Margin Trading Facility (MTF)	2x	Not Applicable	Not Applicable	Not Applicable	Not Applicable

Note: that there is no margin requirement for options buying.

The following charges are applicable on MTF orders over and above regular brokerage:

 

The following charges are applicable on MTF orders over and above regular brokerage
Interest	₹20/day for every slab of ₹40,000 taken as MTF
Pledging charges	The cost of pledging, as well as unpledging, is ₹20 + GST per scrip.

 

Margin shortfall penalty

 

Shortfall	Penalty	Notes
< Rs. 1 lakh or < 10% of applicable margin	0.50%	Base penalty
>= Rs. 1 lakh or >= 10% of applicable margin	1.00%	Higher penalty
More than 5 instances in a month	5% for every further instance	To discourage traders from taking on too much risk
Continues for more than 3 days	5% for each subsequent instance	To ensure that traders have enough money in their accounts to cover their losses
3 or more instances in a month for MCX	5% from the 4th instance	Specific rule for MCX contracts

 

Is upstox safe?

Yes, Upstox is a safe and regulated stockbroker. It is a member of the following stock exchanges:

Stock Exchange Memberships:

●      Bombay Stock Exchange (BSE)

●      National Stock Exchange of India (NSE)

●      Metropolitan Stock Exchange of India (MSE)

●      National Commodity & Derivatives Exchange (NCDEX)

●      Indian Energy Exchange (IEX)

SEBI Registration:

Upstox is registered with the Securities and Exchange Board of India (SEBI), ensuring adherence to strict regulations and oversight.

Security Features:

Two-Factor Authentication: Utilizes two-factor authentication, requiring a mobile phone code in addition to a password for user login.

SSL Encryption: Employs SSL encryption to safeguard data during transmission between users' devices and Upstox's servers.

Cold Storage: Upstox stores customer securities in cold storage, which means they are offline and less susceptible to hacking.

Strong Security Record:

Upstox maintains a robust history of prioritizing security and employs the latest security technologies to protect customer data.

Upstox Offers and deals

Upstox offers a variety of offers and discounts to its customers. Here are some of the most popular offers:

Zero brokerage on delivery trades: Upstox charges zero brokerage on delivery trades for equity, currency, and commodity segments. This means that you can buy and sell shares without having to pay any brokerage fees.

Flat brokerage of Rs. 20 per order on intraday trades: Upstox charges a flat brokerage of Rs. 20 per order on intraday trades for equity, currency, and commodity segments. This is one of the lowest brokerage rates in the industry.

Free Demat account: Upstox offers a free demat account to its customers. This means that you can open a demat account without having to pay any account opening or maintenance fees.

Referral bonus: Upstox offers a referral bonus of Rs. 1500 to its customers for referring a friend. This bonus is paid to the referrer as well as the referee.

Upstox Pro: Upstox Pro is a premium trading platform that offers a variety of features and tools, such as advanced charting, technical analysis, and backtesting. Upstox Pro is available at a monthly subscription fee of Rs. 999.

In addition to these offers, Upstox also runs regular promotions and contests. These promotions and contests offer a variety of prizes, such as cash, gold, and electronics.

 

Benefits of Upstox Demat Account:

Cost-Efficiency:

Free Account: Upstox offers demat accounts without any account opening or maintenance charges.

Zero Brokerage on Delivery: Enjoy zero brokerage on equity, currency, and commodity delivery trades, reducing overall trading costs.

Competitive Intraday Brokerage: Benefit from a flat brokerage rate of just Rs. 20 per order on intraday trades across multiple segments.

Convenience and Accessibility:

Effortless Account Opening: Easily open an Upstox demat account online within minutes.

User-Friendly Platform: Access a user-friendly trading platform equipped with essential tools like charting, technical analysis, and backtesting.

Customer Support:

24/7 Assistance: Access reliable customer support round-the-clock to address queries and concerns.

Payment Options:

UPI Payments: Make secure trading transaction payments using UPI for added convenience.

Promotions and Rewards:

Cost Savings: Take advantage of promotions and discounts on brokerage fees to save on trading expenses.

Referral Bonus: Earn a referral bonus of Rs. 1500 for both referrers and referees by referring friends.

Process for Opening Upstox Demat Account:

Initiate Application:

Begin the process by visiting the Upstox website and clicking on the "Open Demat Account" button.

Provide Details:

Complete the online application form and upload the required documents.

Verification:

Verify your identity and address by providing the necessary information and documents.

Funding:

Fund your account with a minimum deposit of Rs. 500.

Account Activation:

Your Upstox demat account will be activated within a few days.

Required Documents for Upstox Demat Account:

Aadhaar card

PAN card

Recent bank statement

Proof of address

Verification Process:

Provide your Aadhaar and PAN numbers.

Input your bank account details and address.

Funding Your Account:

Deposit funds into your Upstox demat account through bank transfer, UPI, or NEFT.

By following these steps, you can efficiently open an Upstox demat account, benefit from its cost-effective features, and access a user-friendly trading platform for your investment needs.

Conclusion

Upstox is not just another brokerage; it's a standout choice in the Indian market for several compelling reasons. It's your gateway to cost-effective trading, featuring a free demat account, zero brokerage on delivery trades, and an incredibly low flat brokerage fee of just Rs. 20 per order on intraday trades. This isn't just about saving money; it's about making your investments go further. Upstox's trading platform is a dream come true for traders of all levels. Its user-friendly interface and robust analytical tools empower both beginners and seasoned investors to make the most of their investments.

Moreover, Upstox takes your security seriously. With SEBI registration, it adheres to the highest regulatory standards, ensuring your investments are in safe hands. Convenience is another hallmark; opening an account online is a breeze, and their 24/7 customer support ensures you're never left in the dark. But it gets better: Upstox regularly showers you with promotions, discounts, and even a referral bonus program, adding extra value to your trading journey. While the advantages of Upstox are clear, remember that your choice of brokerage should align perfectly with your unique trading style, financial goals, and risk tolerance. So, dive into thorough research and comparisons to make an informed decision that could transform your trading experience.