Upstox is the main source of the motivation and the hard work this company puts into the work. Three main heads of the company who has set an example of making trading easier in India had a similar vision and with hard work and dedication, they have reached their goal, though they are making progressive things every single day till date and may be much more to come. Upstox is a platform for share trading in India which is presented by the RKSV which is already one of the most popular discount brokers in India. They offer a trading platform for commodities, derivatives, equities and the currency markets and that too across the all the share trading exchanges in the country – NSE, BSE, MCX.
The best part about this brokerage house is that they have made trading through mobile and web server very easy for the normal traders as well. Their trading platform is built on a very strong Omnisys NEST Order Management System and thus you can trade easily without any glitches. There are various features that are there on the trading platform and there various other facilities offered by them that are unique to them only and that makes them one of the most sought-after discount brokers in India.
This brokerage house is the first on the in the trading market of India to launch several such plans of trading at a fixed cost which is a milestone in itself. Their turnover on trading has already hit a high of 4000 crores which is really an epitome of their success. They have also achieved 1% of the total turnover on NSE because of their regular and loyal customer base.
This company is backed by several major and the big companies of India and some of them are RKSV, TATA group by Ratan Tata, and others and they help in making the trading platform of Upstox a better one every day. They provide technical support to this company and end to end services on the technology department so that the operations of the company can be carried out very smoothly.
Opening a Demat account in Upstox is free and you can take equity delivery also for free. For the remaining services you need to have a Upstox Pro Platform where you can trade with your mobile and also from the web server of your computer and for this account or the platform, there is a payment or charges that you need to pay which will be discussed later in this article.
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Demat account account and AMC Charges
- Free charges on demat account (AMC Rs 300/YEAR)
- Trading account Rs 0(no annual charges)
Documents required for Demat account opening offline
Opening a Demat Account in Upstox is an easy process and the documents required and the procedure is as follow:
- Identity proofs – Voter Id, Pan Card, and Passport, etc.
- Address Proofs – Electricity bills, Voter Id, AADHAR Card, etc.
- Photographs – Two Passports sized photographs of your recent times.
- Any other documents as asked for.
- Account opening form and if you want to make it paperless then fill the online
Demat account opening Procedure:
Once the company receives the account opening form with the documents –
- They would first verify the documents and the details in them.
- Once the details are verified and the form is duly filled, your account will be opened from their end.
- You will receive the Unique ID and then you can trade once it is on.
- The time required for the whole procedure is around 24-48 hours depending on the documents you have provided.
- If you are an NRI and opting for the paper forms, then download them and fill them duly and mail them to their mailing address with all the supporting documents.
- There is a requirement of signing the Power of Attorney document (POA) when opening the Demat and trading account with Upstox because the Stock Exchanges have set the new rules now that for selling and transferring any shares from your Demat account you would require a POA.
- If you don’t have a KRA-register document, then you have to send a video to verify your identity at the end of the process.
Upstox Brokerage charges
Brokerages: There are different brokerage charges which are discussed below:
- One time trading account opening charges are INR 150.
- The annual maintenance charge for the trading account is Nil.
- The charge for opening a Demat account is Nil.
- There is no brokerage on Equity delivery segment.
- Under Upstox Pro – Brokerages are as follows:
- For equity Delivery based Trades: INR 0.
- For Equity Intraday Trades: INR 20 or 0.01% of the order executed whichever is lower.
- For Equity Future: The lower of INR 20 or 0.01% of the trade or order executed.
- For Equity Options trading: INR 20 on each executed order.
- For Currency Futures: INR 20 or 0.01% of the order executed (the least of them both).
- For Currency Options: INR 20 for each trade/turnover.
- For Commodity Futures: INR 20 or 0.01% of the executed order (the least of the two).
- The STT for Equity Delivery is 0.1% on both buy and sell orders. For the intraday trades on equity, it is 0.025% on the sell side only.
- The transaction charges or the turnover charges are INR 350 per one crore for both intraday and delivery on equities.
- The GST or the Goods and Service Taxes are levied as 18% on the sum of brokerage and transaction charges for both intraday and delivery of equities.
- The charges of SEBI are INR 15 for one crore of the transaction which is same for both equity delivery and intraday.
- Stamp Duties are levied according to the government charges.
- For the futures, the STT is 0.017% on the sell side of the transaction.
- For the options, STT is 0.017% on the sell side buy on the premium.
- The transaction charges on futures are INR 210 for one crore of the transaction and for options, it is INR 5500 on the premium turnovers on per crore basis.
- The GST is 18% only on the summation of brokerage and Transaction charges for both futures and options.
- The SEBI charges are INR 15 per crore for the F&O segment as well.
- For the currency futures and options, the STT is Nil.
- The transaction charges for currency futures is INR 155 per crore and INR 6000 per crore on the premium turnovers.
- The GST is fixed at 18% for this segment as well on Brokerage +Transaction charges.
- The SEBI charges are also same as INE 15 for one crore for both currency futures and options.
- For the commodities, the CTT is 0.01% on the sell side of the transaction.
- Transaction charges for the commodities are INR 260 per crore which includes the INR 210 for the transaction and INR 50 for clearing charges.
- The GST is the same for commodities as well fixed at 18% on the brokerage and transaction charges.
- The SEBI charges INR 15 and the stamp charges are INR 100 per crore.
Upstox is one of the most advanced brokerage houses in India and here are the reasons why you should choose it-
- There is no brokerage on the Equity delivery segment.
- The mobile trading platform is available for both iOS and Android. Moreover, there are no charges applicable to the software you use of Upstox.
- There are all the facilities like bracket orders, Cover orders, and aftermarket orders.
- On both the web and mobile platforms, there are Trailing-stop/stop-loss orders available.
- There are multiple indicators in the Upstox Pro trading Platform.
- Margin against shares is also available which is a great benefit.
- There are various tools and products for the benefit of the users that are available like Bridge for AmiBroker, MF, Developer console, etc.
Cons of Upstox
- In the equity segment, there is no GTC or GTD order but it is available in the commodity segment.
- With the Upstox Pro account, there is higher leverage trading but margin funding is not available in general.
- There is no unlimited monthly trading plan for the clients.
- The Demat debit transaction charges are high in Upstox.
- There is no option or facilities to invest in the IPO/FPO/bonds and NCDs.
- The customer service support is also not available round the clock.
Overall, the Upstox is a much-advanced trading platform and the discount broker is also one of the cheapest in most of the segments. The ease of trading is high and the technologies are upgraded from time to time.
Upstox trading platform (Web 3.0)
Upstox has given a new direction to the share trading in India with its highly advanced trading platforms.
- Pro Mobile: This is the mobile-based trading platform for the people who love and find it easy to trade with their mobile at any time possible and whenever required even on the go. The platform has indicative charts for identifying the market trends and for making a great trading decision on the basis of the information available which are updated on a real-time There is also fundamental research knowledge available on this platform where you can research for several stocks and decide on your buying and selling of the stocks. The news about the markets on a real-time basis is available on this platform and thus you don’t need to switch the apps to read the latest news on the stock market. You can place bracket orders and the cover orders from your mobile phone, isn’t that a great new? Even there are price alerts to keep you updated about the stocks you are following. You can trade while you are moving or traveling and the instant notification about the trades, news, and price will make you more aware of the market.
- Pro Web: It is a web-based platform for trading from the computer terminals and this is based on the HTML technology. It is one of the most advanced trading platforms in India. There are hundreds of indicators that you can use to customize the charts present in the platform to make your technical analysis of the stocks really upgraded and effective. There are facilities for placing the pro orders that is when you have a pro account in the company and there is also a single click trade facility which is really helpful for the daily pro traders. All you have to do is to set your preferences earlier and then when you see the prices lingering in the nearby arena, with just one click you can get out of the trade. There are other widgets which you can use to customize your trading style and you can easily use the platform and use it according to your whims.
- Bridge For AmiBroker: As a trader, you can use this platform for writing your own trading strategies on the AFL of AmiBroker and then synch the Upstox trades with this platform and the AlgoLab they have. Whenever the strategies hit triggers, you will get notifications. You can manage the position of your trades from the screen only, you can edit or update the orders anytime with a click and there are another lot more features which you can get with this product.
- Upstox MF: This is a mutual fund product where you get advises on the mutual funds of India. If you are planning to buy the MF then you can get expert advice on the same that which mutual fund is good for your risk appetite and the returns you want. The experts will help you diversify the stocks and the investments so that your risks reduce and the returns increases.
- Upstox DEV: This is an altogether different platform for building apps for your trading business. You can use the platform for building apps using different software and programs. This is an API of Upstox which is really powerful. There are various knowledgeable things in the library of it which can be useful in building the apps.
- Fox Trader: It is software for back-testing the strategies you have prepared, for live scanning, the strategies can be made automated with this product of Upstox. There are analytic which are highly efficient to make your trading experience far better with developed and advanced charts, market movement monitoring etc. This is a tool for maximising the returns and reducing the risk.