Upstox Review

upstox

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Upstox, initially known as RKSV Securities, has investors like Kalaari Capital, Ratan Tata and GVK Davix. It is a tech-first low-cost broking firm in India providing trading opportunities at unbeatable prices. The platform provides trading options across various segments like equities, currency, futures and options, commodities, all of which are available on the Upstox Pro Web and Upstox Pro Mobile trading platform.

It is a trading platform that offers trading analysis, charting and many more rich trading features. Upstox makes it easier and more convenient to place orders through web browsers and mobile phones. It is built on Omnisys NEST Order Management System (OMS) and Omnisys NEST Risk Management System (RMS)

There is a paid service known as Upstox Pro for traders that offer to trade in Equity F&O, Commodities, Equity Indra-day and Currency Derivatives.

Upstox Charges

  • STT

It is charged only on the sell-side for Intra-day and F&O trades. For Equity, it is charged on both the trading sides

  • Goods and Services Tax (GST)

This tax is charged at 18% of the total cost of brokerage plus transaction charges

  • Stamp duty

The charges are based on which the customer is residing in

  • SEBI Turnover Fees

It is charged as Rs 10 per crore

Other charges:

  • Physical contract notes

Rs 25 is charged per contract note plus courier charges. Digital contracts are free of cost

  • Call and trade

Rs 20 is charged per executed call

  • Instant money transfer fee

Rs 7 is charged per transfer of money

Advantages of Upstox

The following are some of the benefits of using Upstox:

  1. Free of cost maintenance of Demat account
  2. Rs 20 per trade brokerage across all segments, including intraday and F&O at NSE, BSE and MCX
  3. AMO or After Mobile Order and Cover order are available on both mobile and web
  4. Mobile trading app available for both iOS and Android phones. No software charges
  5. Trailing-Stop or Stop-Loss is available in both mobile and web
  6. Upstox bridge for AmiBroker supports you to code and execute your trading strategy using the AmiBroker AFL editor
  7. Upstox Pro Web Trading Platform offers multiple indicators to monitor markets anytime anywhere
  8. Upstox developer Console helps you build or code your own trading app using languages such as Python
  9. Upstox MF Platform offers thousands of Mutual Funds to invest in. the customers can choose a lump sum or SIP patterns while they are investing
  10. Margin against shares is available
  11.  Online IPO application (UPI) is available

Disadvantages of Upstox

The following are some of the drawbacks of using Upstox:

  1. Rs 20 is charged per trade whereas, some brokers offer brokerage free investments
  2. Good Till Date/Time and Good Till Cancelled Orders are unavailable in the Equity Segment. These are however available in commodity trading
  3. Margin funding is unavailable on delivery trades
  4. Upstox does not offer unlimited monthly trading plans
  5. Additional Rs 20 per executed order is charged for Intraday square MIS/BO/CO orders when they are not squared off by the customer
  6. 24/7 customer service is unavailable
  7. Upstox does not offer API access for automated trading

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