Upstox is one of the leading low-cost broking firms that offer trading opportunities at unbeatable prices. It is backed by group investors, which include Kalaari Capital, GVK Davix, and Ratan Tata. It provides an extremely secure and reliable trading platform for both experienced as well as new traders. Presently, Upstox deals in several exchanges, which include BSE, NSE MCX, and MCX-SX and trading segments like commodities, equities, futures, options, and currencies. The trading platform is built on Omnesys NEST RMS (Risk Management System) and Omnisys NEST OMS (Order Management System) and offers analysis, trading, charting, and various other trading features. With the help of the platform, it becomes easy to place orders through mobile phones and web browsers as well.
Upstox Review 2022: Why Should You Open The UpstoxDemat Account?
Upstox offers two different plans:
Basic Plan
They charge ₹20 per trade for F&O and equity, commodity and currency, and brokerage free equity delivery. Equity Delivery segment through web and mobile. 20x leverage on the cash segment.
Priority Pack
₹30 per trade for Equity F&O, commodity, and currency. The Upstox Pro is an extensive trading platform frequent and professional traders, who trade in Intra-day and F&O segments. 25x leverage on the cash segment.
Upstox priority pack offers stock research, features to analyze and monitor stocks F&O, currencies, commodities and the features of the basic plan. Upstox Pro offers advance charting for professional traders for technical analysis and also offers a wide range of chart types, indicators, data-rich user interface. Also Read: What is a Demat Account?
Upstox Plan Comparison
Key Features of Upstox
Upstox’s trading platforms have several features that make trading easy and efficient for both experienced and new traders. It aids you in making an informed decision. Following are the Key features of Upstox:
1. DetailedCharts
If you are an experienced trader, then you would know the importance of a detailed chart. They help you analyze and understand the market trends in order to make informed decisions. The trading platform by Upstox comes with powerful charts that are updated continuously and display the current market status. Even beginners can easily understand the charts and how it works.
2. More than 100 Indicators
Indicators play a crucial part in trading. Knowing the growth and fall of the market and predicting the charts makes up 50% of the trading work. Upstox’s trading platform provides more than 100 well-detailed indicators that can be customed based on your needs and expectations.
3. Orders
Pacing orders with ease while analyzing their growth side by side with the help of updated charts makes this trading platform suitable for both beginner and expert traders. It lets you place bracket orders and cover orders with ease making it suitable for beginner traders who are just learning about the ups and downs of the market.
4. One-Click Trade
The one-click trade option makes Upstox Pro highly desirable. This feature comes in handy when there is high volatility. With the one-click option, you don’t have to go through the long procedure to sell your shares. But do make sure to pre-set your order preferences to prevent yourself from making an impulsive decision. Also Read: How to Transfer or Gift Shares in Demat Form
5. Customization
The customization feature in the trading platform allows its users to go all pro and customize their workspace according to their preferences or needs. Users can display specific segments and create their portfolio. It makes trading more personalized and organized for its users. There are also various widgets that you can use according to your preference.
6. Ease of Use
Ease to use is the one crucial thing that any trader should look for in a trading platform. Upstox makes navigating from one widget to another really easy and helps you learn the basics of trading. They even organize regular seminars to help users to understand the working of the platform. However, their customer service is a bit tardy and mostly not so helpful.
How to get started with Upstox?
Compared to other brokers, setting up a Demat Account with Upstox is quite easy. Either you can go for the online method that is reliable and fast, or you can do it the traditional way by filling up the physical form and submit them through brokers. But before you do so, just make sure that you have read the terms & conditions, and you know what you are paying for. The Demat Account is free for the first week, and then you can decide whether you want to continue or not. For opening a Demat Account, visit the official website. After filling your basic details, you will have to provide your financial and identification proof, such as Aadhaar Card, PAN, Cancelled Check, and your last month’s bank statement. For the offline procedure, you will have to do the same thing with just one exception of finding a broker and providing physical/hard copies of all the required/necessary documents. Also Read: How to open a Demat Account in India
Upstox Special Offer (limited time)
Upstox has collaborated with IndusInd Bank to offer a 3-in-1 account (Demat, Trading, and Savings). The benefit of the Savings bank account is that it is a zero balance account, and you will earn interest on the funds allocated from your savings to trade. You can also earn up to 6X rewards points per INR 200 spent on all your debit card transactions, and you can use the rewards to pay brokerage charges. Advantages of IndusStox Account
Zero Balance Account Earn interest on savings for trade You can customize your account number No charge for opening a Demat& Trading account Zero brokerage on delivery The fixed brokerage of ₹20 per intraday trade
Upstox Review: Fees, Brokerage, & Demat Charges
Trading Account Opening Charges: (One Time Fee)
₹150 for Equity and F&O ₹150 for Commodity
Annual Maintenance Charges: ₹0 Demat Account Opening Charges: ₹0 Demat Account Annual Maintenance Charges: ₹150/year (Paid upfront) Total Amount charged for account opening: ₹531 (as ₹150 + ₹150 + ₹150 + ₹81 (18% GST)) Trading Brokerages: Plan 1: Basic Plan
Equity Delivery Basic Trades: ₹0 (no trade limit)
Plan 2: Priority Pack
Equity Intraday Trades: 0.01% or ₹20 per executed order (Whichever is lower) Equity Delivery Based Trades: ₹0 (Free Unlimited Equity Delivery Trades) Currency Futures: 0.01% or ₹20 per executed order (Whichever is lower) Currency Options: ₹20 per executed order Equity Future: 0.01% or ₹20 per executed order (Whichever is lower) Equity Options: ₹20 per executed order (on Turnover) Commodity Futures: 0.01% or ₹20 per executed order (Whichever is lower)
Upstox Brokerage Fee in Detail
Stamp Charges: ₹100 per Crore
DEMAT ACCOUNT CHARGES
That’s it folks, this concludes our review of Upstox. And I hope by now you have a basic idea about Upstox trading platform and you can take a better decision for opening Upstox Demat Account,
