Upstox, Upstox, Upstox! Start karke toh dekho. I mean Upstox review dekh hi rahe ho, ab toh start karke dekho.
You might already be like gone crazy if you’ve been watching IPL T20 2021 and I am sure, their Yoga ad isn’t that impressive but I do like the escalator ad though.
Anyway, buying stock is easy as sliding, what else do you need? In this article, we will be discussing the whole top to bottom review of Upstox, their trading platform on the Web, and their App on both iPhone & Android called “Upstox Pro”.
What Is Upstox?
Upstox is a brokerage company based in Mumbai and it is one of the discount brokers. Well, to be honest, it is registered as RKSV Securities Pvt. Ltd but Upstox is a brand name and is registered trademark of RKSV Securities Pvt. Ltd. and they mainly promote their company under this brand name.
Upstox stands in the second position and we can say that they are the fastest-growing broker in India. Yes, there’s a reason behind their growth, as you can see, they do ads and promotions a lot. I mean, start karke toh dekho.
The other reason is the free account opening and 30 days no brokerage fee. However, they are not the cheapest you know. We will be discussing this further in detail.
Due to the tags “Free Account Opening” & “30 Days No Brokerage Fees” many of the new people entering the Stock Market to check whether it is for them or not, end up opening an account with them.
On the inside of their App, the functionality to operate is pretty easy. You can buy stocks by just sliding as they show in the ads, moreover I like the shade of blue they used in the App throughout. There is no bugs and lags found in their Upstox Pro App.
What Are The Pros & Cons of Upstox?
In this Upstox review, I am going to list all the possible pros and cons of this broker and you should even as a beginner decide if this broker is good for you or not.
- Free Account Opening, while in 2015 I paid Rs 500 guys!
- 30 Days No Brokerage for checking out investing :xD
- They are soon bringing in free series for learning (good move)
- Faster account opening, they assist even with WhatsApp and you just need to send them documents. Rest they will manage.
- Rs 20 or 0.05% Brokerage for Intraday & Futures/Options
- Zero Brokerage for Investing in Stocks
- Zero rupee fee for Mutual Funds, & Gold.
- Not a breathtaking web trading platform, I mean it’s a bit hard to understand and no dark mode. (Upstox add it if you’re reading this)
- Upstox sometimes has major issues with outages. Now, I didn’t find much.
- No ability to add custom average buying price after getting your shares from the market transaction. (Upstox fix this too man)
- Not supported by EASIEST offered by CDSL.
- It requests a lot for changing your passwords. (Less of a con)
I hope you went through the pros and cons of Upstox Broker but I think it’s pretty descent. If you’re looking to open your DEMAT account with Upstox then I totally recommend it. Upstox has been my primary broker for the Holdings and I don’t do intraday with Upstox.
If you’re also finding some broker to hold some stocks for a long time, then Upstox is your best option.
If you join Upstox with our link, we add you to our Telegram channel where we teach newbies and beginners about the Stock Market Basics so you can pick some good trades and make some money for yourself.
Detailed Upstox Charges & DP Charges
Upstox account opening is free of cost and I already mentioned it above, but there is an account maintenance charges which is charged by all other brokers and as well as Upstox.
Find all the Upstox Charges including the DP charges in the table below.
Type of Charges
- Account Maintenance Charges (AMC)
- Debit Transaction Charges (On Selling)
- Intraday, Futures/Options
- Transaction Charges
- Terminal or App Charges
Rs 25/Month or 350/Year
Rs 18.5 + GST, i.e, Rs 21.5 per scrip per day
Rs 20 or 0.05% Per Order
(Delivery 0.01%) (Intraday 0.025%)
NSE: 0.00345% per trade on both buy & sell
Should You Open Your DEMAT With Upstox?
If you’re looking to trade casually or hold shares for the long term then I highly suggest that you should open an account with them. There are also few things to remember, that like if you are getting share via off market transaction then the App & Web Terminal doesn’t show you the exact buying price of Shares which doesn’t show the exact P&L.
Apart from that, I don’t have any issues with Upstox and their customer service is okayish. Not vevry good but on the better side. They have call and live chat option as well. Upstox is trusth worthy and is even backed by Tiger Global & Rata Tata.
That’s all for today guys, hope you enjoy the article and have clear views for opening an account with them.