Upstox is a Discount Broker that provides faster and smarter trading solutions to its customers. They are relatively new to the discount broking space in India but they have quickly grown to become one of the best discount broking firms in India and have a client base of around 1 Lakh and backed by Ratan Tata, Kalaari Capital and GVK Davix.
Similar to most Full-Service Brokers, this company provides its customers to trade in various segments like Equity F&O, Equity Intraday, Commodities and Currency Derivatives. However, unlike most full-service brokers Upstox provides these services at a fraction of the cost.
Upstox is also known to design and develop its own trading software for its clients with the help of a team of developers.
On that thought, let’s have a look at the trading platforms Upstox has to offer:
Upstox Trading Platform
Upstox’s dedicated team of developers and designers is the reason behind their trading platforms which are regarded as one of the best in the industry. This is one of the various reasons why a lot of traders look to open an account with Upstox. Here are the various trading platforms being offered by Upstox.
Upstox PRO Web
Upstox Pro Web is a trading platform which is accessible from a browser using your own login credentials. You don’t need to download any desktop applications to access this platform, just enter the URL and you are ready to trade in your favorite securities through the upstox pro web platform.
This section also describe about “Upstox Pro demo”, “Upstox Web App”, “Upstox Pro software” , “Upstoxpro”, “Upstox Pro RKSV”, “UpstoxPro software”, “trade Upstox”.
Key features of Upstox Pro Web:
- One Platform for NSE, BSE, MCX.
- Easy Trading in Equity, Derivatives, Currency and Commodity.
- Commodity trading is also available from Upstox Pro trading platform.
- Advance Orders – Simple, AMO, OCO & Cover Order with Limit
- Place CO with limit or market price.
- Place After Market Orders.
- Market Watch – Real-Time Scripts
- Move script directly from the watchlist, trade book or order books to charts.
- Buy and Sell Stocks from market watch window on single click.
- You can now use horizontal and vertical charts to draw shapes and lines and indicate trends quickly.
- More than 100 indicators to help identify trends.
- Compare two scripts easily.
Upstox Pro Mobile
Upstox’s Mobile Trading App is one of the better apps for trading with mobile containing almost all the features required for trading with a mobile app. It is available in both the android and iOS app stores. The Upstox Pro Mobile app has around 500,000 installs to date.
You can also try the app for free by just installing it and trying a free demo which lets you use the app and its features for free.
Some of the key features of the Upstox Mobile App are:
- Create custom watch lists.
- Apply technical indicators on real-time stock charts
- Real-time market quotes to keep you updated about your favorite securities.
- Detailed market Open price, 52 week high and low, volume, Bid and Ask price, chart, option to change the chart type, buy and sell options.
- Create watchlist from benchmark indices like Sensex and Nifty50.
- Stay updated with an unlimited number of price alerts.
- Easy access to all the trades placed in the past via the order book history.
- Check your account balance and add funds smoothly.
- Orders can be placed as Simple, Cover and Aftermarket orders.
- Interactive charting tools to make better investment decisions.
NEST Trading Platform
This is a trading platform that needs to be installed on your desktop which comes in an executable file that can be run on your desktop and you can start trading right away. It has a customizable interface with low latency and enterprise-level stability. It also provides advanced charting patterns and you can easily place cover and market orders using the platform.
Key features of the platform are:
- Customizable interface with layouts, fonts, colors, etc., to customize as per your trading needs.
- Fast streaming data with quick refresh rates.
- Stream data to multiple monitors.
- Advanced charting patterns with multiple chart types and 100+ indicators.
- Advanced Order Types like Cover Order and Bracket Orders.
Dartstock (Desktop Trading Platform)
Upstox has partnered with iDarts to develop trading software that fits into the daily routine of the trader. The trading platform provides various features to help analyze stocks and identify trading opportunities. Here are some of its key features:
- Live scanner to scan the highs and lows of the day
- Spot trends easily using bullish and bearish indicators
- Create watchlists for Resistance & Support.
- Watch, high traded volume stocks, Intraday Recovery & Fall scrips.
- Advanced charting tools with Intraday history & daily historical data,
- Compare charts scrip by scrip, chart templates, and personalized charts.
FoxTrader (Desktop Trading Platform)
Upstox provides free access to its users to Foxtrader which is a desktop trading platform in a partnership with Reliable Software India Pvt. Ltd. You can analyze markets with charting tools, backtest strategies and experience effortless one touch trading.
Key features of the application are:
- Easily backtest your strategies by analyzing past data and monitor markets in real-time.
- Plan your orders and generate them quickly with the help of an API.
- Determine correct order quantities and apply Stop loss at correct levels.
For more info click here.
Upstox has recently started charging its customers for opening an account with them. Here are the complete details of the same:
|Trading Account Opening Charges (One Time)||₹150|
|Trading Annual Maintenance Charges||0|
|Demat Account Opening Charges (One Time)||0|
|Demat Annual Maintenance Charges(Yearly Fee)||₹150|
Being a discount broker, Upstox charges very minimal brokerage rates between ₹20-₹30 per order.
Upstox provides its customers with two account types to choose from Basic and Priority. A Basic account offers a lower amount of leverage as compared to a priority account and hence is a little cheaper.
A priority account offers more benefits from increased leverage to more features in the trading platforms and is more suited to those who trade in high volume. Here are the details of the brokerage charges on offer:
|Equity Delivery||₹0 (Free)|
|Equity Intraday||₹20 per executed order|
|Equity Futures||₹20 per executed order|
|Equity Options||₹20 per executed order|
|Currency Futures||₹20 per executed order|
|Currency Options||₹20 per executed order|
|Commodity Futures||₹20 per executed order|
|Commodity Options||₹20 per executed order|
|Equity Delivery||₹0 (Free)|
|Equity Intraday||₹30 per executed order|
|Equity Futures||₹30 per executed order|
|Equity Options||₹30 per executed order|
|Currency Futures||₹30 per executed order|
|Currency Options||₹30 per executed order|
|Commodity Futures||₹30 per executed order|
|Commodity Options||₹30 per executed order|
Apart from brokerage and account opening and maintenance fees, customers also have to pay for transaction charges, here are the details of the same charged by Upstox:
Upstox is known to provide a high amount of margin for its customers. Depending on which type of account you have you can access the margin facilities accordingly. Here are the details of the margin offered by Upstox for Basic and Priority accounts:
|Equity Intraday||Basic: 15x | Priority Pack: 20x | Basic CO: 20x | Priority Pack CO: 25x|
|Equity Future||Basic: 4x | Priority Pack: 4x | Basic CO: 4x | Priority Pack CO: 6x|
|Equity Options||Basic: 4x | Priority Pack: 4x | Basic CO: 4x | Priority Pack CO: 5x|
|Currency Future||Basic: 4x | Priority Pack: 4x | Basic CO: 4x | Priority Pack CO: 5x|
|Currency Options||Basic: 4x | Priority Pack: 4x | Basic CO: 4x | Priority Pack CO: 5x|
|Commodity Future||Basic 2.5x | Priority Pack: 3x | Basic CO: 3x | Priority Pack CO: 4x|
Upstox provides the following ways to get in touch with their support staff:
- Social Media
It has been noticed by a few people that their social media team isn’t the fastest to respond and hence it is advisable to call their customer service helpline. Here is their contact number for the same 022 6130 9999.
Most full-service and discount brokers provide their customers with sufficient educational material to help them achieve greater success in the markets and make more informed decisions on investments.
Consumer Complaint Report
This report is an indicator of how the discount broking firm works towards resolving the complaints registered against them at NSE. Looking at this report they seem to be doing reasonably well in this department. Kindly find the details of the report below:
|Exchange||Financial Year||Number of Clients||Total Complaints|
To access the complete list of complaints registered against brokers with NSE, just click on this link
Upstox is a good choice for traders who don’t want to pay high brokerage and can manage without a high quality of customer service with decent trading platforms. However, they are getting high competition in that segment with Zerodha, 5Paisa also doing pretty well in those areas.
Upstox has a good team of developers who seem to be developing good quality of trading platforms for their clients, that being said there is plenty of competition in that segment and they need to ramp up their efforts if they are to become a frontrunner in the discount broking space.
Upstox also needs to perform better when it comes to customer service with many clients complaining of less than satisfactory response to technical glitches at their end.