4 Overall

Upstox is a discount brokerage company headquartered in Mumbai, India that holds memberships with the NSE, BSE, MCX, and MCX-SX. The company allows retail investors and institutional corporations in India the ability to invest in financial market at lower rates compared to traditional full-service brokers.

Brokerage Charges4.5
Platforms & Tools 3.5
Customer Service 3.5
  • No Provision to Invest in IPOs & Mutual Funds.
  • Margin funding and margin against shares is not available.
  • Average Customer Service.

Upstox Overview

Upstox (formerly know as RKSV Securities) is secound largest discount broker in India offering Equity, Currencies &Commodity trading services at BSE, NSE & MCX. With more than 20,000 customers across the country,Upstox does a turnover of INR 7000 crore on a daily basis. This stock broking form was launched in retail trading segment in the January,2012 by 3 founders namely Raghu Kumar, Ravi Kumar and Shrinivas Viswanath and has been backed up by some of the prominent names such as Ratan TataKalaari Capital and GVK Davix.

Upstox Brokerage Charges

Upstox offers competitive brokerage charges similar to Zerodha in the league of discount brokers by offering equity Investment for brokerage free and 0.01% or Rs 20 whichever is lower per executed order for all other segments be it equities intraday, currencies, FnO or commodities. 

 Equity Delivery

0 (Free)

 Equity Intraday

0.01% or Rs 20 Which ever is lower per Executed Order

 Equity Futures

0.01% or Rs 20 Which ever is lower per Executed Order

 Equity Options

Rs 20 Per Executed Order

 Currency Futures

0.01% or Rs 20 Which ever is lower per Executed Order

 Currency Options

Rs 20 Per Executed Order 


0.01% or Rs 20 which ever is lower per Executed Order

Upstox Other Charges

  • Call & Trade: Rs 20/- per executed order
  • Physical contract notes: Rs 25 per contract note plus courier charges. (Digital contract notes are free.)
  • Instant Money Transfer Fee: Rs 7 per transfer
  • Transaction charges while selling equity will be Rs. 13 + 5.5 + service tax.

Account Opening Charges - 

  • Trading Account Opening Charges : Rs 150
  • Demat account Opening Charges : Rs Nil
  • MCX Trading Account Opening Charges : Rs. 150
  • Trading Account plus Demat  Opening Charges : Rs. 150 + Rs. 150 as AMC to be collected upfront
  • Trading Account plus Demat plus MCX: Rs. 150+150+150
  • Demat Account Annual Maintenance Charges (AMC): Rs 150 Per Year

Upstox Platforms & Tools

Upstox is known for designing and developing its own trading platforms for its clients. With a team of 20+ developers, the broker provides terminal based, web based and mobile app based trading platforms to its users.

Desktop Trading  - One of the most reputed trading platform "Omnesys NEST" is official trading terminal for Upstox. This trading terminal is one stop shop for our your trading need from advance charting to quick order placement, portfolio, fund transfer, margin report and Market Watch, Customizable interface, Multi Monitor support, customizable hotkeys and shortcuts.

Web Trading - With more and more people moving towards online trading, Upstox has turned their web-based platform into the most sophisticated and cutting-edge tool which helps traders and investors to calculate fast and place trades in live markets quickly. Upstox Pro web is a light weight browser based trading platform that can be accessed using internet on your computer,laptop or tablet-without having to download anything.Trading with Upstox means that you can say Goodbye to those large .exe files that crowd your desktop.

Key Features of Upstox Pro are:

  • Fast market feeds.
  • Trade on all exchanges & all segments with a single sign-in.
  • Real time quotes.
  • Instant notifications.
  • Bank transfer available with 40+ banks.
  • Real time margin - alert for margin changes.
  • One click trades.
  • Keyboard shortcuts like desktop, you can use shortcuts for trade in browser.
  • Account balance, historical reports, daily order status reports and much more.

Mobile App - The mobile application Upstox Pro Mobile App follows a similar design scheme as the web version.

But there were some quirky things we noticed in the mobile app. Historical charts are available only in the landscape mode and not In the portrait mode. Constantly switching between two views can ruin the user experience here. Charting is easy and fast on the app and its easy see the amount of work put in by the developers.

Bracket order or OCO (One Cancel The Other) is not available. This can be a deal breaker for people who trade on the go.  If you are a mobile user then you will love the app minus the quirks. It also has a tab which shows corporate actions related to the stock and a fundamental tab data with some basic parameters. Apart from these kinks, the mobile app is a decent platform from Upstox compared to clunky, cluttered and outdated apps of other brokers.

Couple of concerns around this mobile app include:

  • Connectivity issues observed in smaller tier cities or with users having low internet conection bandwidth.
  • Concerns with loading od charts in case you are looking to perform technical or fundamental analysis using the mobile app.

Upstox Education & Research

Upstox don’t provide advisory services regarding buying and selling of stocks but educate people about the financial markets through Trade Academythe educational blog that has been conducting online classes to train aspirants across India and abroad about everything from basics of the stock markets to options trading strategies to introducing algorithmic trading to experts in the industry.

Trade Academy runs free and premium online courses that are attended by large number of audience every day.

Upstox Customer Service

Upstox offers the following communication for its clients to get in touch with them:

  • Email –
  • Phone – (022)-61309999
  • Web form -

Upstox should certainly look forward to increase the number of communication channels such as web chat, Tool free numbers so that clients can have better number of options to get service on the move.

However, as of now, the communication quality is fine but primarily the focus of the executives stays a little “salsy” in nature. Thus, Clients who trade regularly might find the overall quality below average.

Upstox Closing Thoughts

Upstox is a solid choice with its great suite of platforms and tools. If you are first-time trader you will most likely be drawn to the beautiful platforms at zero brokerage. Although the web platform is well crafted it takes a bit of getting used to and does not look the best on smaller screens. Overall it doesn’t matter if you are a beginner or an experienced trader if you are looking for a broker Upstox should be in your shortlist.