Upstox Review – Brokerage Charges, Demat A/C, Trading Platforms & More

Upstox review

Upstox is one of the best discount brokers in India, located in Mumbai with more than 40,000 active customers. It was earlier known as RKSV Securities.

Upstox have grown significantly and today it is considered among the most popular discount brokers in India after Zerodha. Check this Upstox Review to know everything about it such as brokerage charges, demat & trading account, trading platforms, offers & more.

Upstox is primarily known for its strong commitment towards developing advanced trading platforms for its clients. According to sources, Upstox has invested a huge sum of money in bringing in-house trading platforms to its customers. Upstox is an active member of NSE, BSE, MCX and MCX-SX. However, it doesn’t offer facility to invest in IPO, FPO, Bond and NCD’s.

Upstox allows its clients to invest in a range of market segments including:

  • Equity
  • Futures
  • Options
  • Currency
  • Commodity
  • NRI Trading

One great thing you will know in this Upstox review about Upstox is that you can open a demat account in just one day. There is no need to any paperwork, easy verification with Aadhaar allow users to start instant trading. Step by step procedure for the same is described below in this Upstox Review.

Enjoy more leverage up to 20x margin on Intraday, 6x margin on Futures & 4x margin on Options with Upstox.

Another biggest point is that Upstox is backed by Mr. Ratan Tata, Kalaari Group and GVK Davix and privileges itself as the technology-backed low-cost brokerage firm.

Upstox is one of the best discount brokers in India, specially for the traders. It offers some of the most stable and feature-rich trading platforms in the market. As most of its trading platforms are developed in-house, it gives Upstox review a clear advantage over others.

Upstox Review by Customer Ratings

Criteria Ratings
Experience 8.4 / 10
Trading Platform 8.0 / 10
Product & Services 7.8 / 10
Brokerage Charges 9.1 / 10
Research 7.0 / 10
Overall Rating 8.10 / 10
Star Rating ★★★★☆

Types of Upstox Accounts

There are generally two types of accounts you can have at Upstox – Securities and Commodities Account. A securities account can help you perform trade on Equities, F&O, and Currencies on the NSE and BSE. On the other hand, a Commodities account lets you trade commodity futures on the MCX. You can see your balance for equities and commodities in separate tabs.

Upstox offers two types of account that is given below :

Upstox –

Upstox (Up Stocks Basic) enables basic trading features in Equity Delivery segment through mobile and website. RKSV does not charge any brokerage to trade in Equity Delivery segment.

Upstox Pro (₹20 per trade) –

Upstox Pro is the trading platform for high frequency traders; who mostly trade in Indra-day and F&O segments. Besides the standard features offered in Upstox, Upstox Pro also provides stock search, analyze, trade, and monitor stocks, currencies, F&O, and commodities.

Upstox Trading Plans

Upstox has two trading plans for its customers; Basic and Priority Plan. In this Upstox review, we compare both plans that is given below:

Upstox Basic Plan Upstox Priority Plan
Equity Delivery Free Free
Equity F&O, Commodity and Currency ₹20 per trade or 0.01% (whichever is lower) ₹30 per trade or 0.05% (whichever is lower)
Margin – Intraday
NSE/BSE Cash 15x 20x
Index Futures 4x 5x
Stock Futures 4x 4x
Index Option Sell 4x 5x
Stock Option Sell 4x 4x
NSE Currency 4x 4x
MCX Future 2.5x 3x
Margin – CO/OCO Orders
NSE/BSE Cash 20x 25x
Index Futures 4x 7x
Stock Futures 4x 6x
NSE Option Buy 1.33x 2x
Index Option Sell 4x 5x
Stock Option Sell 4x 4x
NSE Currency 4x 5x
MCX Future 3x 4x


How to Open a Demat Account with Upstox?

For buying and selling securities like mutual funds, shares online, having a demat account is essential for that. Upstox just needs your Aadhaar Card and PAN Card details to open your demat account. Even, you can complete the process in just a few hours. There is two ways to open a demat account with Upstox, online and offline process, both are described below in this upstox review –

Upstox Online Demat Account Opening Process

Opening a demat account with Upstox is very easy. Here is the step by step process to open a demat account with Upstox.

Steps to open a upstox demat account online is – 

  • There is appearing a form on the right side of your screen. Fill required information like Name, mobile no and email id and submit it.
  • Later you will be required to have soft copies of documents including – aadhaar card, address proof, age proof, PAN card and photograph to upload it online.
  • Submit Aadhaar details and in order to verify via OTP, make sure the given mobile number is linked to your Aadhaar Card.
  • The next screen should ask you your PAN number for validation.
  • Enter your Aadhaar (UID) number, and Upstox will perform all the remaining data validation for you – such as full name, address, age, gender or all the other details will be prefilled.
  • Once you upload all your documents, your account registration is completed.
  • After registration company will provide you Account no, Login Id and Password of your account, Now you can start trading with your demat account.

Upstox Offline Demat Account Opening Process

  • Download and print the demat account opening form and fill in the necessary details.
  • Submit the account opening forms along with the required documents specified by your broker. Your broker might ask for an updated KYC form if it is not already updated. Proof of identity and proof of address are one of the most important proofs that you need to submit.
  • The account opening form will also ask you to mention a nominee. A nominee is a person who will be in-charge of your account and its assets if some kind of mishap were to happen to you.
  • You’ll also come across the Depository Participant-Investor agreement, which contains details such as the charges you’ll incur while holding the dematerialized account, the rules and regulations, terms and conditions, and also the duties of the broker and your rights as an investor.
  • An in-person verification to check that your details are true and valid may be completed.
  • After all the formalities are completed, you’ll receive a Beneficiary Owner Identity (BOID) or Unique Client Code (UCC) – a unique account number which will be used in all future transactions you conduct.

Upstox Account Opening Charges

Demat & Trading Account Opening Charges
Trading Charges [One Time] Free or Depend upon Offer
Trading AMC Rs. 300 + 18% GST Yearly
Demat Account Opening Charges Rs 0 (Free)
Demat AMC Rs 249 Yearly
Margin Money 75% Margin

Upstox Trading Platforms

Upstox is known to offer some of the most technology-led trading platforms in the market. Trading platforms of Upstox are mostly in-house and they are backed with high-end features, we have mentioned all features for every platforms in this Upstox review. Let’s look at Upstox’s top trading platforms :-

NEST Trading Platform

The desktop version of Upstox’s NEST trading platform is basically executable file that can be installed on a desktop or a laptop. It features advanced trading tools for high frequency traders and investors. Some of the features are listed below:

  • Enables high-speed trading by eradicating typical delays during transactions.
  • User Interface can be modified or personalized as per your preferences
  • Users have the option of streaming data on several interfaces at one point of time
  • Advanced charting features for users to carry out insightful technical analysis

Though there is no primary issue with the app, there is one concern that the discount broker itself doesn’t have the full control on the platform. So, it may pose a challenge in regard to maintenance. This simply means that your feedbacks regard the application might not get entertained well.

Upstox Pro Web

Upstox Pro web is a Trading platform for the web that can be easily accessed from any browser. Users can open a browser from anywhere and browse a specific URL to access Upstox Pro web and start trading. This application can also be accessed through mobile phones or tabs.

Here are some of the best features of Upstox Pro Web:

  • A light-weight application that can be accessed through any browser or device
  • Extremely useful charts with over 100 indicators and charts that enable users to gauge the market and stock trends.
  • Ordering window is rendered on the screens so placing orders from there is pretty smooth
  • Features such as Workspaces can be tailored as per user preferences.
  • Keyboard shortcuts are given to enter orders quickly

Upstox Mobile App Review – Upstox Pro

Upstox is one of the most high-end mobile apps for stock trading. Some of the features of the mobile app include:

  • Live-streaming of Prices from NSE F&O, NSE Cash, BSE Cash, NSE Currency and BSE Currency
  • Line charts, candlesticks along with chartings indicators and drawing tools for users to understand data feasibly and take actions quickly

One can access the mobile app of Upstox using his demo user id and password. To get the login credentials, get in touch with customer care.

  • High-end order types such as Cover Orders & Bracket Orders
  • Quick money transfer to over 40 banks available using the app

A couple of concerns about Upstox mobile app include:

  • Connectivity problems noticed in smaller tier cities or with users getting low internet bandwidth.
  • Issues regarding the loading of charts if you are looking to carry out technical or fundamental analysis using the Upstox mobile app.

Upstox Customer Care Review

Upstox customer care is available at the following communication channels:

  • Email
  • Phone
  • Social Media
  • Web-form

The discount broker Upstox is poised to increase the number of communication channels such as Web Chat, Toll-free numbers, and even automated bots to enhance the customer service experience of its users.

However, as of the now, the communication quality is ok but mostly the focus of the customer care executives looks sluggish in nature. Therefore, clients of the discount broker who are daily traders and are looking for quick response might find the overall quality below average and it is a considerable point of this Upstox Review.

Upstox Brokerage Charges

We have listed the brokerage charges fixed by Upstox on all types of segments in this Upstox review –

Brokerage Charges
Equity Delivery Trading Zero
Equity Intraday Trading Rs.20 per executed order or 0.05% (whichever is lower)
Commodity Options Trading Flat Rs.20 per executed order
Commodity Futures Trading Rs.20 per executed order or 0.05% (whichever is lower)
Equity Futures Trading Rs.20 per executed order or 0.05% (whichever is lower)
Equity Options Trading Flat Rs.20 per executed order
Currency Futures Trading Rs.20 per executed order or 0.05% (whichever is lower)
Currency Options Trading Flat Rs.20 per executed order
Minimum Brokerage Rs.20
Demat AMC Charges Rs.249
Trading AMC Charges Rs. 354
Margin Money 75% Margin

Upstox Trading Brokerages

  1. Plan 1 – Upstox (Upstox Basic)
  • Equity Delivery Based Trades: ₹0 (no limit on number of trades)
  1. Plan 2 – Upstox Pro
  • Equity Delivery Based Trades: ₹0 (Free Unlimited Equity Delivery Trades)
  • Equity Intraday Trades: 0.01% or ₹20 per executed order (Whichever is lower)
  • Equity Future: 0.01% or ₹20 per executed order (Whichever is lower)
  • Equity Options: ₹20 per executed order (on Turnover)
  • Currency Futures: 0.01% or ₹20 per executed order (Whichever is lower)
  • Currency Options: ₹20 per executed order
  • Commodity Futures: 0.01% or ₹20 per executed order (Whichever is lower)

Upstox Margins

Upstox Margin Review for Cover order / Bracket Order
Segment Regular Intraday Intraday Priority Pack
NSE/BSE Cash 20x 25x
Index Futures 4x 7x
Stock Futures 4x 6x
NSE Option Buy 1.33x 2x
Index Option Sell 4x 5x
Stock Option Sell 4x 5x
NSE Currency 4x 5x
MCX Future 3x 4x


Upstox Priority Pack – Upstox Best Plan

Upstox has come with Priority Pack, a new category developed for Intraday traders striving for more leverage. Just by paying Rs. 999 a month, traders are enabled on Equities, F&O and CDS. And at Rs. 499/month, they are enabled for Commodities.

  • 2X Intraday leverage on option buy with CO/OCO/BO
  • Get up to 7X leverage on Index Futures using CO/OCO/BO
  • No exposure margin levied on Index Futures and Options giving you up to 6X leverage
  • 20X Intraday leverage on cash (generally 15X)

The Conclusion – Upstox Review or RKSV Review

For long-term investors and high frequency traders, Upstox is certainly a fabulous trading platform to work on. From competitive brokerage plans to good customer services, there are lots of reasons(we covered all primary reasons in this upstox review to get associated with Upstox).

In fact, Upstox discount broker is considered as the 2nd most popular discount broker in India after Zerodha. With more than 1 lakh active clients and ₹15,000 Crores daily turnover, Upstox is a great option for trading.

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