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

By TBS Team | June 10, 2024


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 need to know 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.

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 a clear advantage over others.

Upstox 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 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 –

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 poin.

Upstox Brokerage Charges

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

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 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 –

It 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

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.

FAQs About Upstox Stock Broker

  1. What are the benefits of UPSTOX?

  • User-Friendly Interface:

Given its user-friendly layout, UPSTOX provides a smooth and straightforward trading experience. The platform is easily navigable by traders of all experience levels, making it available to a broad user base.

  • Low Cost and Transparent Pricing:

UPSTOX’s straightforward and affordable pricing system is one of its unique qualities. Users may conduct trades without worrying about unforeseen costs because of minimal brokerage fees and no hidden costs, which encourages a more predictable and economical trading environment.

  • Advanced Charting Tools:

With the help of the platform’s sophisticated charting capabilities, users may examine market patterns and arrive at wise conclusions. Traders may execute successful trading strategies and obtain more profound insights into stock movements using real-time data and customizable charts.

  • Robust Security Measures:

User data and transaction security are UPSTOX’s top priorities. Modern security features on the platform, like two-factor authentication, guarantee the privacy of user data and the security of transactions.

  • Access to a Wide Range of Assets:

Stocks, commodities, and derivatives are just a few financial instruments available to traders using UPSTOX. Due to this diversity, investors can investigate various investment options on a single platform and diversify their portfolios.


  1. What are the charges for Options trading at UPSTOX?

UPSTOX’s set fee for trading options is Rs 20 per trade. For traders involved in options trades, the cost calculation process is made simpler by this flat charge structure. We will charge participants a flat fee of Rs 20, regardless of the volume or value of the deal.

Investors trading options on the UPSTOX platform may better organize their finances and get greater clarity thanks to this transparent pricing methodology. It guarantees a simple and economical method, freeing traders to concentrate on their tactics and results rather than the intricacy of changing fees depending on deal size.

  1. What documents does UPSTOX require?

The account opening procedure is made simpler by Upstox, a top online brokerage platform that has explicit paperwork needs. Applicants must provide specific documentation to Upstox to guarantee a seamless onboarding process.

  • Identity Proof

A legitimate identity paper from the government, such as a driver’s license, passport, or Aadhar card, is required to access Upstox, which aids in confirming the user’s identification and meeting legal requirements.

  • Address Proof

Upstox accepts papers such as utility bills, Aadhar cards, and bank statements; address verification is vital. Guarantees the correctness of the address supplied and helps keep client information up to date.

  • Bank Proof

Upstox needs evidence of a bank account, like a bank statement or a voided cheque, to enable smooth money transfers. It guarantees the accuracy of the user’s bank information and permits smooth financial transactions.

  • Income Proof

Upstox may request evidence of income in the form of income tax returns or wage slips to determine a user’s suitability for investing and financial eligibility.


Upstox guarantees its users a safe and legal onboarding procedure by following these document standards, promoting faith and confidence in its offerings.

  1. Is UPSTOX a discount broker?

Yes, a discount broker is how UPSTOX trades. UPSTOX is a financial platform that offers lower brokerage costs than typical brokerage companies, making trading services more affordable. UPSTOX is a discount broker, and it allows investors to conduct trades at lower commission rates, which makes it a desirable choice for traders looking to decrease expenses.

The platform’s primary goal is to serve both seasoned and inexperienced traders in the financial markets by offering adequate and reasonably priced trading solutions. UPSTOX’s focus on competitive pricing is consistent with the traits that the financial sector often associates with bargain brokers.

  1. What is the annual maintenance fee of the UPSTOX Demat account?

The UPSTOX Demat account has an annual maintenance charge of ₹300. This little charge covers yearly maintenance and administrative expenses, ensuring the smooth operation of your Demat account. It gives account holders an affordable option for managing their securities and reflects a fair and regular fee for the services rendered.

This annual fee is necessary to keep the account operating and compliant with regulations. It guarantees investors a safe and effective platform to manage their assets and transactions with UPSTOX.

  1. What are the account opening charges at UPSTOX?

There are no account opening fees with UPSTOX. The site has a “no charges” policy when creating an account. UPSTOX may allow customers to start investing without charging fees for creating an account. The lack of these fees is to UPSTOX’s mission to give those who want to start trading online an affordable and easy-to-use experience.

With UPSTOX’s services, this strategy encourages accessibility and inclusion in financial markets by allowing clients to begin investing with no initial financial strain.

  1. How long does it take to withdraw money from UPSTOX?

There are two easy ways that UPSTOX lets you take money out of your trading account, each with its requirements.

  • You may take out sums from your securities and commodities wallet daily ranging from ₹100 to ₹5 lakhs using the Instant withdrawal option. Since this process makes use of the IMPS mode, your associated bank account must be in an active state. If you submit a withdrawal request between 10 am and 6 pm on a trading day (Monday through Friday), we deposit the funds to your primary bank account within 15 minutes. On the other hand, the request adheres to the Standard withdrawal timings, whether submitted before 10 am or after 6 pm.
  • Using the Standard withdrawal option, you can take out money in any quantity up to ₹100. You can initiate a withdrawal at any time, and on corporate days, our system will deposit the funds into your primary bank account by 3:00 pm. This option allows withdrawal requests to be edited or removed before processing. The Standard mode withdrawal schedule varies according to the day and time of the request, with distinct deadlines for processing on the same day or the following trading day.


  1. How to open your account with UPSTOX?

  • Go to

To begin the procedure, go to and navigate to the account opening page.

  • Establish an Account:

To establish a Upstox account, enter your cellphone number, set a password, and provide your email address.

  • Verification of Documents:

Enter the data from your Aadhar and PAN cards, and then use the OTP issued to your registered cellphone number to confirm your identification.

  • Payment of Fees:

Open your trading account and pay the relevant fees using the integrated payment gateway. The kind of instruments you want to trade, such as stocks, derivatives, or commodities, will affect the fees.

  • Uploading Documents:

After the verification procedure, upload your PAN and Aadhar cards, among other necessary papers. Select the pricing scheme that best fits your style of trading.

  • Submission of an Application:

Within minutes after submitting your application, you will get an email with two attachments: a Demat form and a Power of Attorney (PoA) form.

  • Activation of Account:

You should get your password and User ID for your Upstox account within a day of the successful verification. Get quick access to your account and have a smooth trading debut. With Upstox, enjoy the simplicity of a simple account opening procedure.

  1. Can we trade commodities on UPSTOX?

Yes, it is possible to trade commodities on UPSTOX. The platform enables investors to participate in the commodities market by allowing customers to trade various commodities. UPSTOX provides multiple tools and an intuitive interface to facilitate easy commodities trading.

With UPSTOX’s platform, traders can efficiently execute transactions, access real-time market data, and manage their commodities portfolios. For customers looking for possibilities and diversity in the commodities market, UPSTOX enables commodity trading for commodities such as precious metals, energy resources, and agricultural items.

  1. Is UPSTOX registered with SEBI?

Indeed, UPSTOX has a Securities and Exchange Board of India registration (SEBI). The corporation abides by SEBI laws, ensuring it abides by the guidelines set out by the regulating agency and stays within the bounds of the law.

With this registration, UPSTOX is demonstrating its dedication to defending investor interests, preserving transparency, and supporting the criteria set out by SEBI to support an equitable and effective Indian securities market.

As evidenced by UPSTOX’s registration with SEBI, which monitors and controls the securities market to safeguard investors and preserve market integrity, investors may feel confident of the company’s legality and regulatory compliance.

  1. Is UPSTOX a good app?


  • Low-cost Trading: Upstox is a desirable option for traders on a tight budget since it provides reasonable brokerage costs. It can significantly reduce the overall trade expenses.
  • User-Friendly Interface: The Upstox platform is well-known for having an intuitive interface that suits inexperienced and seasoned traders. Charts and intuitive tools make trading a more enjoyable experience overall.
  • Expert Charting Tools: Upstox offers traders expert charting tools that they may use for technical analysis. Customizable charts and up-to-date data allow consumers to make wise judgments.
  • Paperless Account Opening: Upstox simplifies the onboarding procedure with paperless account opening. This ease of use speeds up the start of trading operations.


  • Customer care Concerns: A few customers have voiced grievances about Upstox’s customer care, complaining about long wait times and demanding assistance. Upstox could be a disadvantage for people who require immediate assistance.
  • Restricted Research and Analysis: Upstox could provide comparatively fewer resources for research and analysis than some of its rivals. It might be limiting for traders relying on detailed market knowledge.
  • Technical Issues: The Upstox platform has occasionally experienced technical issues. Although these disruptions are typical in trade, traders hoping for a flawless experience may find them annoying.


  1. What are the brokerage charges at UPSTOX?

Our brokerage fees at Upstox reflect our dedication to offering a smooth and open trading environment. Upstox designed our fee schedule to provide traders and investors with affordable options.

  • Equity Delivery: ₹20 per order, or 2.5%, whichever is less:

With a maximum charge ceiling of ₹20 or 2.5%, our Equity Delivery brokerage cost guarantees affordability for individuals making long-term investments by enabling you to purchase and sell equities over days, weeks, or even years.

  • Commodities Futures, Currency Futures, Equity Intraday, and Equity Futures: ₹20 or 0.05% (whichever is lower) per order:

Our inexpensive price benefits traders looking to profit from transient market swings. You may perform intraday and futures transactions without breaking the bank for a fee of ₹20 or 0.05%, whichever is lesser, per order.

  • Options for stocks, currencies, and commodities: ₹20 for each order placed:

You may trade options with ease and predictability thanks to our transparent ₹20 per order completed charge, which also makes navigating the derivatives market easier.

  • IPOs and mutual funds: No Brokerage/Commission:

We are happy to provide zero brokerage/commission on mutual funds and initial public offerings (IPOs) since we understand the importance of these investment avenues in a diversified portfolio and want you to optimize your profits without paying extra.


Select Upstox for a trading experience that puts your financial objectives first and offers transparent, affordable brokerage fees.

  1. Is trading free with UPSTOX?

No, trading is not accessible on UPSTOX. Users may be charged for brokerage fees, transaction fees, and regulatory costs related to trading activities even if UPSTOX provides competitive brokerage rates. Users must carefully read UPSTOX’s charge schedule to comprehend the expenses associated with their trades precisely.

Even though UPSTOX could provide affordable options, it’s critical to understand any possible fees to make wise trading selections on the platform.

  1. Does UPSTOX only offer free brokerage?

In online trading, UPSTOX stands out for its free brokerage model and its plethora of solid features that meet the various demands of investors. Despite the enticing commission-free structure, UPSTOX dedicates itself to providing consumers with more than just financial advantages.

  • Sophisticated Trading Platforms:

UPSTOX offers modern trading platforms with a feature-rich mobile app and an easy-to-use online interface. To make wise selections, traders may efficiently execute orders, examine market patterns, and get real-time alerts.

  • Technical Analysis And Charting Tools:

Platform users may access materials for technical analysis and advanced charting tools. Traders can conduct in-depth market research, see trends, and practice complex trading techniques.

  • Leverage And Margin Trading:

With the margin trading options provided by UPSTOX, consumers may increase their market exposure by using leverage. With a measured amount of risk, this function possibly enables traders to improve their returns.

  • Exchange Accessibility:

Through UPSTOX, investors may access several exchanges, therefore diversifying their investments. The website offers consumers various investing alternatives by facilitating trading in derivatives, commodities, and stocks.


UPSTOX is a comprehensive option for traders and investors looking for a stable and adaptable online trading experience, even though its free brokerage model is appealing.

  1. Can you invest in an IPO with UPSTOX?

Of course! Users of the well-known online brokerage Upstox can participate in initial public offerings (IPOs). By applying for an IPO share, you may use Upstox to participate in the stock market launch of new enterprises. The platform offers customers a smooth and quick approach to investigating and participating in prospective offerings by streamlining the IPO application process.

Investors may participate in initial public offerings (IPOs) and diversify their portfolios while taking advantage of possible growth possibilities in the stock market by utilizing Upstox’s services. For individuals wishing to participate in the exciting world of stock market investing, it’s a user-friendly choice.

  1. Is UPSTOX suitable for trading?

With its user-friendly interface and affordable brokerage charges, UPSTOX is a good choice for traders. It is appropriate for novice and seasoned traders because of its user-friendly design, robust trading tools, and real-time market data. Through its connectivity to the derivatives, equity, and commodity markets, UPSTOX enables customers to execute transactions effectively.

Although tastes might differ, UPSTOX is well-liked by traders looking for a smooth and economical trading experience because of its features, dependability, and affordability. It’s wise to check that its features and costs suit your unique trading requirements and preferences.

Disclaimer: This blog is written for educational purpose only. Data, Securities, Advisory and Quotes mentioned here are for guidance only. Doing research by investors itself is highly recommended.

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