Upstox Review: One of India’s Fastest-Growing Brokers
Upstox is a discount brokerage platform for trading in India. It is famous for providing higher margins and lower brokerage on trading. It includes trading in stocks, currency, equities, commodities, and many such financial trading options. It is also technology-based which provides the tech infrastructure of the company. Upstox was founded in the year 2012 by three founders namely Raghu Kumar, Ravi Kumar, and Shrinivas Vishwanath. The company was earlier known as RKSV. At present, it is supported by financial giants like Ratan Tata, GVK Davix, and Kalaari Capital. This has risen the credibility of the company manifold. The company has a turnover of a whopping Rs.7000 crore each day. Moreover, Upstox is registered as a member of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), MCX, and MCX-SX.
The Upstox is tech-based and operates through the website and the mobile application. The application can be downloaded for free from Google Play Store and it is very easy to use. It has features like universal search tools, real-time market feeds, and high-tech charting tools which facilitate trading in the easiest way possible. Hence it also very popular with people especially the younger crowd in the country. The high-tech operations make it hassle-free and a satiating experience. Upstox mobile application has been downloaded more than 5 million times. The company has got more than 200,000 clients across the country.
- The Upstox trading company offers two types of accounts, Upstox Basic Plan and Upstox Priority Pack. The former which is the Upstox Basic Plan offers features such as Equity Delivery segment and free brokerage equity delivery and Rs 20 as brokerage charge for trading in currency, equities, commodities, and F&O. The Priority Pack includes features like high tech charting for traders. Also, a brokerage fee is charged which Rs.30 for each trade or 0.05%, whichever is lower. It also offers stock search tools, analysis tools, and varied other charts and data.
- Upstox Account can be opened for a fee of Rs 249 and the user can avail of 30 days of trading without any brokerage fee. One also needs to pay Rs 25 as a monthly maintenance charge. Moreover, the Upstox Demat account can be opened with Rs 150 with the Annual Management Charges(AMC) charges which have to be paid yearly. The Demat account helps in keeping shares and mutual funds. Moreover, Upstox Trading Account opening charges are also Rs 150 annually. The documents required are identity proof, PAN card, Address proof, photograph, bank statement, and a trading account cheque.
- Upstox brokerage charge is pretty nominal which is Rs.20 for every trade in Futures, Options, Equities, Currency Futures, and MCX futures. Now the user also needs to pay the AMC charges other than the brokerage charges. Apart from this feature, Upstox allows fund transfers from more than 40 banks across India.
- Customer Care services are one of the best and the team can be reached by email, phone, chatbot, web-form, and company social media handles. Hence the trader can reach out to the customer care team whenever he is in dilemma or to get clarity on the features, functions, and operations on the website and the mobile application.
If you’re looking for fast and comprehensive trading sites, you must go with Upstox. You will also get low brokerage charges and better margins that are key trading points.
Upstox (RKSV) provides modern, fast, and reliable web, desktop, and mobile trading applications with 100 + indicators and charting tools. The trading platform is ideal for intraday market professionals and newcomers.