UPSTOX Demat Account Review

Today we will review the UPSTOX Demat Account in this Best Demat Account series. If you want to invest or trade in the stock market then you must have a demat trading account.



 PSTOX is one of the best best discount brokers in India. In this, you can easily decide whether you want to open your Demat account or not after reading this UPSTOX Review.

 What Is Upstox?

Upstox is currently the second largest discount broker in India. It was earlier known as RKSV Securities. Upstox gives you the facility of demat and trading account. Through this you can also invest in mutual funds, gold etc. According to Upstox, it is currently serving about 40 lakh clients. Upstox is a SEBI registered broker with SEBI registration number INZ000185137.

 Who is the owner of UPSTOX?

RKSV Securities was established in 2011. Which was named as UPSTOX in 2016. This discount broker is currently headquartered in Mumbai. The founders of Upstox are Ravi Kumar, Raghu Kumar, Srinivas Vishwanath. Based on the initials of his name, it was named RKSV.

Upstox is a broker backed by investor groups like Ratan Tata, GVK Davix and Kalari Capital Group.

UPSTOX Review

Upstox is one of the best discount brokers in India right now. Upstox also gives you the facility of trading at minimum brokerage along with fast trading platform. If you are a trader then upstox can definitely be your first choice.

These brokers are available with state-of-the-art features that allow you to invest in each type of segment.

Upstox Account Opening charges

New demat account opening charges in Upstox change regularly. At present, the facility of opening a demat account is being given in Upstox for free.

Trading Account Annual Fee (AMC) – UPSTOX charges ₹300 annually to its clients as AMC. It charges ₹25 per month from the trading account.

The account opening charges and annual fee are reflected in the discount broker wise. Free account opening makes it more attractive.

Upstox Brokerage

Brokerage matters a lot in choosing the best broker. Especially when you are a regular trader.

 Equity Delivery Equity Intraday 
 Brokeragezero₹20 per order or 0.05% (whichever is less)
SATTA (Security Transaction Tax)0.1% on both buy & sell0.025% only on sell.
Transaction chargesNSE: 0.00345% per trade on buy & sell. BSE: Scrip group wiseNSE: 0.00345% per trade on buy & sell. BSE: Scrip group wise
Demat transaction charges₹18.5 per scrip (On Bus Sale Deals)Zero
GST18% (on brokerage + transaction + Demat charges)18% (on brokerage + transaction + Demat charges)
SEBI Charges₹5/crore₹5/crore

Upstox Equity Delivery & Intraday Charges

 Equity Futures Equity Options 
Brokerage₹20 per order or 0.05% (whichever is less)Flat ₹20 per order or 0.05% (whichever is less)
SATTA (Security Transaction Tax)0.1% on sell0.05% only on sell.
Transaction chargesNSE: Exchange turnover charge: 0.0020% Clearing charge: 0.0002%NSE: Exchange turnover charge: 0.053% Clearing charge: 0.005%
Demat transaction chargesZeroZero
GST18% (on brokerage + transaction & clearing charges)18% (on brokerage + transaction & clearing charges)
SEBI Charges₹5/crore₹5/crore

Other charges-

Call & Trade : ₹20 per order

Digital contract notes are free. But for physical contract note ₹ 25 per note and courier charges have to be paid separately.

For instant money transfer in the bank, ₹ 7 has to be paid per transaction.

What does Upstox offer?

  1. Share
  2. F & O
  3. Currency Trending
  4. Commodity
  5. Mutual Fund
  6. IPO Plat Frome
  7. Bond And Debut Fund
  8. ETF
You can invest in a wide variety of investment options with a single platform from Upstox. The biggest advantage of opening a Demat account with Upstox is that your entire portfolio gets consolidated in one place.

This broker offers you the following investment options – UPSTOX 3 in 1 Account

Upstox also offers you a 3 in 1 account which includes Demat account, Trading account and IndusInd Bank savings account together. To open a 3 in 1 account, Upstox has a tie-up with IndusInd Bank, in which you can also open a savings account if you want.

The biggest advantage of this type of account is smart transfer. For example, if you have ₹ 1 lakh lying in your savings account, then you can select ₹ 50,000 for smart transfer. Now you can trade with these ₹ 50,000. Also, if you have not traded with that money, then you will continue to get interest on that money.

Additionally, you get 6x Reward Points for every ₹200 spent on its Debit Card which you can use for brokerage credits.

 

UPSTOX Trading Platforms

RKSV provides you trading platform both on your computer and mobile. Despite being a discount broker, it offers its clients the convenience of a trading terminal with best-in-class features.

1. Upstox Mobile Trading App

Its mobile app is available on both Play Store and iOS Store. This trading app is very easy to use which has made it very easy for new investors to understand.

You can download Upstox Mobile Trading App from here – UPSTOX PRO Mobile App

Features :-

  • Constant current price updates across all segments such as NSE Cash, BSE Cash, NSE (F&O), NSE Currency and BSE Currency.
  • Chart facility in mobile app which can also be viewed vertically. Also the facility of indicators, drawing tools etc. which are very important for the traders.
  • Option to create separate watchlists.
  • Very easy to buy and sell shares.
  • The Upstox mobile app also has the option of advance orders from which you can place cover orders and bracket orders as well.

You can easily add and withdraw money through the app itself. You can also add funds to the trading account through Google Pay, UPI, Net Banking, NEFT, RTGS and IMPS.

Talking about the problems, this mobile app sometimes delays the price updation of shares added to the watch list. Sometimes you may also face connectivity issue in Upstox mobile app.

In conclusion, this mobile app provides its customers with the best features along with the best user interface except for some shortcomings. This trading app has got a rating of 4.4 stars on the Play Store.

2. Upstox PRO Web

This is the web trading platform of Upstox. This trading terminal is very useful for advanced users of Upstox and regular trading traders such as intraday and F&O segments. You do not need to install any application to use it. You can access it directly by typing the URL in the browser of your computer or laptop.

Features :-

  • This web trading terminal provides you advanced charts with more than 100 indicators.
  • It allows you to trade in each type of segment.
  • It is very easy to access this platform which you can access from any browser of the computer.
  • Its interface is very advanced.
  • It keeps you updated with real time market data that too at high speed.
  • These trading terminals are great for traders, but they can be a bit difficult for new investors to understand.

3. Upstox NEST Trader

This is a computer application offered by Upstox that you can install on your computer or laptop. Nest Trader is an advanced trading desktop software in which you can monitor, trade and buy/sell the market.



Features :-

  •  It provides you high speed trading which also reduces the extra time taken during the transaction.
  • You can customize the interface of this application as per your requirement.
  • It has advanced charts and many important tools to help you with your trading.
  • If you are a regular trader then Upstox Nest Trader is the best option for you.

UPSTOX Margin

  • Intraday & CO orders in Equity – Up to 5x Margin
  • Intraday & CO Order Futures, Index & Stock Options, NSE Currency Future and MCX Future – Up to 1.33x Margin
  • There are no margins available in option buying.

Upstox Complaints

A total of 862 (0.04%) complaints were registered on this discount broker on NSE in 2020-21, while in 2019-20 these complaints were 164 (0.03%). The complaints of this broker are better or less as compared to other brokers.

How is the customer support of UPSTOX?

RKSV gives its customers many self-connection options such as –

  • phone
  • E-mail
  • chat
  • social media

These brokers are constantly striving to enhance their channels to connect with their clients. If you try to contact Upstox via email, it usually gets a reply within 24 hours. You can also chat with their customer executive through their mobile trading app and share your problem. 

Conclusion: Their customer support is very responsive and fast.

 How to Open Demat Account in Upstox?

Upstox allows its customers to open a demat account both online and offline. If you want to open a paperless account online, then it is necessary to link your Aadhaar with your mobile number. If your Aadhaar is not linked with your mobile then you have to send your application along with required documents to Upstox by courier or post.

Required Documents –

  • pan card
  • Aadhar card
  • bank account information
  • Income proof (for derivatives)

It is very easy to open a demat account in Upstox which you can open by following the following steps –

  1. Go to this link – Open New Account
  2. Enter your mobile number and email.
  3. Verify by entering the OTP received on your mobile.
  4. Enter your personal information.
  5. In this step you have to do your e-signature in the given white box.
  6. On clicking Next, you will be asked the camera permission which you have to allow.
  7. After this you have to take a selfie of yourself and click on Next.
  8. In this step, you have to enter your bank details such as bank account number and IFSC code.
  9. After this you will receive an OTP on your email. You have to enter it in the application.
  10. In this step you have to pay the fee for UPSTOX account open. (if any)
  11. In the next step, you will be asked the option to trade in futures and commodities, which you can do “NO”.
  12. Now you have to e-sign your application through Aadhar card which will be done through OTP.
  13. After this your application will be submitted which you can also download.

After submitting the application, your application will go to Upstox for scrutiny. Your account is usually activated within 24 to 48 hours. You will receive your user account and password by email and on mobile.

UPSTOX PROS

  • There are many benefits of opening an account with Upstox which make it different from other brokers.
  • Upstox does not charge any brokerage for buying shares in delivery deals. This can be the best option for investors who buy shares for the long term.
  • You can easily access Upstox trading terminals from your smartphone and laptop.
  • It regularly sends newsletters about market recaps to its clients.
  • AMO (After market offer) and cover orders are available in both mobile and web versions.
  • Upstox Option Chain Tool is a great tool for investors which helps them to find spot, futures price, vertical comparison.
  • You can also invest in Mutual Funds, Gold, ETFs through this platform.
  • In this you can also apply for IPO through UPI.
  • Under the referral program, if you refer someone in UPSTOX, then you get ₹ 300 to ₹ 600 on each successful refer. These rewards change from time to time.

UPSTOX Cons

  • These brokers do not offer you any trading plan or priority pack.
  • Margin funding facility is not available on delivery deals.
  • Currently NRI accounts are also not available in Upstox.
  • Demat debit transaction charges (18.5) in Upstox are higher as compared to other discount brokers (13.5).

Conclusion- Upstox Review

Friends, I myself am using Upstox demat account since last 6 years. This is a very good trading platform in which you get many features. Also, it does not give any opportunity to its customers to complain about its services.

If you want to open Demat account in Upstox then you can definitely start investing by opening your Demat account in Upstox. Upstox can be a great option for new investors.

Friends, if you like this information, then you must share it with your friends. You can tell me your question through comment box.

FAQ

Is Upstox safe?

Upstox is funded by industry stalwarts who make it credible. Also, these are fast growing discount brokers which are one of the choice of investors.

Can I invest in IPO through Upstox?

You can invest in IPO through UPI in Upstox.

What are the mobile trading apps of Upstox?

Upstox has a great mobile trading app called UPSTOX PRO.

Is Upstox Free?

Delivery deals are free in this while other deals have a maximum brokerage of ₹20. Rest you have to pay nominal AMC for trading account

Can funds payout be done through mobile app in Upstox?

Fund add and payout can be taken easily by going to the fund section of the mobile app.