Upstox review 2022: Everything You Need to Know about Upstox

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Are you starting with investing? Great decision! The sooner you start to invest, the better for you. So, while searching for investing platforms you may have come across an app called Upstox. Many people use Upstox for investing in stocks and other assets.

In this article, we will exclusively review Upstox and explain to you how you can open an account, various assets available to trade, brokerage and charges, and at last, I will leave a recommendation for you, to help you make a good decision for yourself.

[Discalimer – This article contains affiliate links, which help me generate affiliate income which I use to improve this website and bring more valuable content for you]

upstox review

 

Let’s first understand more about Upstox

Upstox, also known as RSKV securities is an Indian low-cost broking firm that provides trading options at competitive rates. Moreover, it is backed by popular investors and industrialists such as Ratan Tata, Kalaari Capital, and GVK Davix.

You can trade on equities, intraday trades, F&O (Futures and Options), commodities, currencies and buy IPO’s (Initial Public Offering) directly from the Upstox pro app or website.

The Upstox trading platform is built on Omnisys Nest OMS (Order Management System) and Omnisys NEST RMS (Risk Management System).

How to open an account?

Opening an account is simple. You can follow these steps to open your free Demat account.

  • Click here to start your application. This link will directly take you to the Upstox website.
  • After that, enter your phone number and verify it then they will ask you to set a six-digit pin for your account.
  • Upload your documents (PAN card and Aadhaar card) and submit it.
  • Continue to fill the form and submit it for verification. If you got stuck in between, the customer service will call you or you can call them on 022 4179 2999022 6904 2299 and get help to complete the application and open your free Demat account.

Eligibility criteria 

  • Contrary to popular belief, you can open your Demat account even if you are under 18 years with the help of a guardian, for that you need to submit the necessary documents and give information about your guardian.
  • You need to submit a copy of your PAN card along with the eKYC facility which uses Adhaar card information and verifies your id accordingly.
  • You need to provide address and identity proof, which you can give through ration card, pan card, voter id, bank statement, passport or driver’s license.

 

What are the brokerage and charges?

Below are the charges for equity shares

Upstox Charges Equity Delivery Equity Intraday Equity Futures Equity Options
Brokerage ₹20 or 2.5% whichever is lower on Equity Delivery Rs. 20 per executed order or 0.05% (whichever is lower) Rs. 20 per executed order or 0.05% (whichever is lower) Flat Rs. 20 per executed order.
STT/CTT 0.1% on both buy & sell. 0.025% only on sell. 0.01% on sell. 0.05% on sell side (premium).
Transaction Charges NSE: 0.00345% per trade on buy & sell.

BSE: charges vary as per the scrip group

NSE: 0.00345% per trade on buy & sell.

BSE: charges vary as per the scrip group

NSE:

Exchange turnover charge: 0.0020%

Clearing charge: 0.0002%

NSE:

Exchange turnover charge: 0.053%

Clearing charge: 0.005%

Demat transaction charges Rs. 18.5 per scrip per day only on sell. No charges No charges No charges
GST 18% (on brokerage + transaction + demat charges) 18% (on brokerage + transaction charges) 18% (on brokerage + transaction & clearing charges) 18% (on brokerage + transaction & clearing charges)
SEBI Charges Rs. 5/Cr Rs. 5/Cr Rs. 5/Cr Rs. 5/Cr
Stamp Duty 0.015% or Rs 1500 / crore on buy-side 0.003% or Rs 300 / crore on buy-side 0.002% or Rs 200 / crore on buy-side 0.003% or Rs 300 / crore on buy-side
Stamp Charges https://upstox.com/chargeslist/

 

If you want to trade in “Currency” here are the charges.

 

Upstox Charges Currency Futures Currency Options
Brokerage Rs. 20 per executed order or 0.05% (whichever is lower). Flat Rs. 20 per executed order.
STT/CTT No STT No STT
Transaction Charges NSE:

Exchange turnover charge: 0.0009%

Clearing charge: 0.0004%

BSE:

Exchange turnover charge: 0.00022%

Clearing charge: 0.0004%

NSE:

Exchange turnover charge: 0.04%

Clearing charge: 0.025%

BSE:

Exchange turnover charge: 0.001%

Clearing charge: 0.025%

GST 18% ( on brokerage+transaction charges) 18% (on brokerage+transaction charges)
SEBI Charges Rs. 5/Cr Rs. 5/Cr

 

If you want to trade in the “Commodities,” here is the charges list.

 

Brokerage Rs. 20 per executed order or 0.05% (whichever is lower). Flat Rs. 20 per executed order.
STT/CTT 0.01% on sell trade (Non-Agri) 0.05% on sell trade
Transaction Charges Non-Agri:

Exchange turnover charge: 0.0026%

Clearing charge: 0.0005%

Exchange turnover charge: 0

Clearing charge: 0.002% on buy + sell [Rs. 200/crore]

GST 18% (on brokerage + transaction charges) 18% (on brokerage + transaction charges)
SEBI Charges Agri: 1/Cr

Non-Agri: 5/Cr

Rs. 5/Cr

 

upstox-review

Pros of Upstox

  • Cost-effective

    Being a low-cost broker, Upstox offers you an opportunity to trade at a lower cost compared to other brokers in India.

  • Easy account opening

    You do not need to wait for days to open your account. The whole process is online and with eKYC, your account can be opened within 2 working days.

  • Huge Clientele

    Upstox started operating in 2012, since then it grew at a rapid rate and presently it has a client base of 5 million users across India.

  • Commission-free mutual fund

    Yes! You can buy direct commission-free mutual funds from them.

Cons of Upstox

  • Upstox, as of now doesn’t offer an NRI trading platform.
  • They charge extra Rs 20 for call and put, and auto square off intraday trade.
  • It doesn’t offer brokerage-free equity delivery trading.
  • They do not provide monthly trading plans and API to alog trading options.

Conclusion

After understanding all the features, benefits, and charges we can conclude that it is a good platform if you are a starter.

With chargeless account opening and low brokerage cost, they are a great stock exchange partner to start your investing journey with.

Rest all that remains is how comfortable you are with shares and putting effort into your research with that, we conclude the Upstox review for 2022.

Click here to create your free Demant account now!

 

Hope this article has given you some insights on Upstox and its brokerage charges and fees. If you find this article helpful. Share it with your friends!

 

Cheers!

Until next time!

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