Upstox Review [2022]

Upstox Review

Upstox is a tech-first low cost broking firm in India providing trading opportunities at unbeatable prices. Company provide trading on different segments such as equities, commodities, currency, futures, options which are available on its Upstox Pro Web and Upstox Pro Mobile trading platforms.

Upstox is backed by a group of investors including Kalaari Capital, Ratan Tata and GVK Davix.

Upstox trading platform offers trading, analysis, charting and many more rich trading features. This platform makes it easy to place orders through mobile phones and web browser. Upstox trading platform is built on Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS (Risk Management System).

Upstox offers absolutely free trading account and free trading in Equity Delivery segment. Trading in Equity F&O, Equity Indra-day, Commodities and Currency Derivatives is available through Upstox Pro. UpStox Pro is the paid service of UpStox for traders.

Upstox Special Offers

Free Equity Delivery Trading & Mutual Funds

  • Pay Rs 0 Brokerage for Equity Delivery, Mutual Funds, and Digital Gold.
  • Pay flat Rs 20 for Intra-day and F&O Trades.
  • Trade with the best trading platform.

It is a limited-time offer. Open Instant Account online and start trading the same day.

Upstox Charges in 2022

  • Upstox Account Opening Charges: Rs 249
  • Upstox Demat AMC: Rs 300 per year

Upstox Equity Delivery & Intraday Charges

Upstox equity delivery brokerage is Rs 0 (Free). Upstox equity intraday brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox ChargesEquity DeliveryEquity Intraday
BrokerageRs 0Rs 20 per executed order or 0.05% (whichever is lower)
STT0.1% on both Buy and Sell0.025% on the Sell Side
Transaction ChargesRs 325/croreRs 325/crore
Demat Transaction ChargesRs 18.5 per scrip (only on sell)Rs 0
GST18% (on Brokerage + Transaction Charges)18% (on Brokerage + Transaction Charges)
SEBI ChargesRs 5/CroreRs 5/Crore
Stamp Duty0.015% (Rs 1500 per crore) on buy-side0.003% (Rs 300 per crore) on buy-side

Upstox Equity F&O Charges

Upstox Equity F&O brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox ChargesEquity FuturesEquity Options
BrokerageRs 20 per executed order or 0.05% (whichever is lower)Flat Rs 20 per executed order.
STT0.1% (on Sell Side)0.1% (on Sell Side)
Transaction ChargesRs 210/croreRs 5500/crore on premium turnover
Demat Transaction ChargesRs 0Rs 0
GST18% (on Brokerage + Transaction Charges)18% (on Brokerage + Transaction Charges)
SEBI ChargesRs 5/CroreRs 5/Crore
Stamp Duty0.002% (Rs 200 per crore) on buy-side0.003% (Rs 300 per crore) on buy-side

Upstox Currency Charges

Upstox Currency brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox ChargesCurrency FuturesCurrency Options
BrokerageRs 20 per executed order or 0.05% (whichever is lower)Flat Rs 20 per executed order.
STTNo STTNo STT
Transaction ChargesNSE: 0.00013% | BSE: 0.00062%NSE: 0.065% | BSE: 0.026% (on premium)
GST18% (on Brokerage + Transaction Charges)18% (on Brokerage + Transaction Charges)
SEBI ChargesRs 5/CroreRs 5/Crore
Stamp Duty0.0001% (Rs 10 per crore) on buy-side0.0001% (Rs 10 per crore) on buy-side

Upstox Commodity Charges

Upstox Commodity brokerage is Rs 20 per executed order or 0.05% (whichever is lower).

Upstox ChargesCommodity FuturesCommodity Options
BrokerageRs 20 per executed order or 0.05% (whichever is lower)Flat Rs 20 per executed order.
STT0.01% on sell trade (Non-Agri)0.05% on sell trade
Transaction Charges0.0031%0.002%
GST18% (on Brokerage + Transaction Charges)18% (on Brokerage + Transaction Charges)
SEBI ChargesRs 5/CroreRs 5/Crore
Stamp Duty0.002% (Rs 200 per crore) on buy-side0.003% (Rs 300 per crore) on buy-side

Upstox Charge Explained:

  • STT: This is charged only on the sell side for intraday and F&O trades. It is charged on both sides for Delivery trades in Equity.
  • Stamp Duty: Charges based on the state the customer is located in.
  • Goods and Services Tax (GST): This is charged at 18% of the total cost of brokerage plus transaction charges.
  • SEBI Turnover Fees: This is charged at Rs 5 per Crore.

Other Charges (Upstox Broker Hidden Charges / Fees):

  1. Call & Trade: Rs 20 per executed order
  2. Physical contract notes: Rs 25 per contract note plus courier charges. (Digital contract notes are free.)
  3. Instant Money Transfer Fee: Rs 7 per transfer

Visit Upstox Brokerage Charges Review for more detail.Special Offer: Invest brokerage-free Equity Delivery and Direct Mutual Funds (truly no brokerage). Pay flat Rs 20 per trade for Intra-day and F&O. Open Instant Account online and start trading today.


Upstox Online Account Opening

Upstox Trading Software (Upstox Trading Platforms)

Upstox offers mobile and website based trading. Upstox’s trading platform is build in-house by RKSV to make it extremely easy to place orders through mobile as well as web browser. As of now no trading terminal is available though Upstox.

Upstox Pros (Advantages)

The following are the advantages of Upstox. You must read Upstox advantages and disadvantages before opening an account with Upstox. Upstox pros and cons help you find if it suits your investment needs.

  • Upstox offers brokerage free trading in Equity Delivery segment (Customer does not have to pay brokerage for delivery trades in equity segment).
  • Mobile trading app available for both Android and iOS phones. No software uses charges.
  • After Market Order (AMO) and Cover Order are available on both web and mobile.
  • Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
  • Upstox Pro Web Trading Platform offers multiple indicators to monitor markets on-the-go.
  • Upstox Bridge for AmiBroker helps you to code & execute your trading strategy using the AmiBroker AFL editor.
  • Upstox Developer Console helps you build (code) your own trading app using languages such as Python.
  • Upstox Option Chain Tool helps traders find out Spot, Future prices, vertical comparison of rates, get details such as circuit levels, Open High Low Close and market depth. It allows customers to measure volatility, open Interest, performance indicator and check greeks as well.
  • Upstox MF Platform offers 1000’s of Mutual Funds to invest in. Customers can choose Lumpsum or SIP pattern of investing.
  • Margin Against Shares is available.
  • Online IPO Application (UPI) is available.

Upstox Cons (Disadvantages)

The following are the cons of Upstox. Check the list of Upstox drawbacks.

  • Good Till Cancelled (GTC) and Good Till Date/Time (GTD) Orders are not available in Equity Segment. GTC/GTD orders are available in commodity trading.
  • Margin Funding is not available on delivery trades.
  • Upstox doesn’t offer unlimited monthly trading plans.
  • Call and trade fee is charged at extra Rs 20 per executed order (Rs 20 Brokerage + Rs 20 Call & Trade Fee).
  • Additional Rs 20 per executed order is charged for Intraday square MIS/BO/CO orders when they are not square off by the customer.
  • Brokerage free trading is available only in Equity Delivery segment (in Upstox Basic plan). For all other segments including Equity F&O, Commodity F&O and Currency Derivative, brokerage is charged at Rs 20 or lower per trade.
  • In Upstox basic plan, though brokerage is free, customers still have to pay the Demat Transaction Charges. Upstox Demat debit transaction charges (Rs 21.83) is high than other discount brokers who charges fee of Rs 15.93 per demat debit transaction.
  • Doesn’t provide stock tips or recommendations.
  • 3-in-1 accounts are not available as company doesn’t provide banking services.
  • 24/7 customer service is not available.
  • Upstox NRI Trading and demat account is no more available (since Jan 2018).
  • Upstox doesn’t offer API access for automated trading.

Upstox Margin Exposure

Upstox margin for intraday trading is up to 6x based on the stock. Upstox F&O intraday trading margin is 1.3x across Equity, Currency, and Commodity trading at BSE, NSE, and MCX. There is no additional margin offered for Upstox F&O carry forward positions and equity delivery trades.

SegmentMargin
Equity Delivery1x (no margin)
Equity IntradayUp to 6x (based on the stock)
Equity Futures & OptionsIntraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)
Currency Futures & OptionsIntraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)
Commodity FuturesIntraday – 1.3x, Carry forward – 1x of NRML margin (Span + Exposure)

Note: As per the new margin policy by SEBI, the margin for trading will be decided by the exchange from Sept 01, 2022. Brokers cannot offer ‘additional margin’ like 20x in any segment at BSE, NSE, and MCX. All full-service and discount brokers will provide the same margin exposure to customers.