Upstox Demat Account Review

When it comes to trading and investing in India, Upstox has become a well-known name quickly. Both new and experienced investors are interested in it because it’s easy to use and offers low-cost trading options. It’s very important to pick the right trading platform, especially for people who want to get the most out of their trading strategies without having to pay a lot of fees or find hidden costs. This review goes into detail about what Upstox has to offer, how much it costs, and whether it fits your financial goals.

Upstox

Known for its low-cost brokerage, user-friendly interface, and robust tools for both beginner and experienced traders.

₹0 ₹250

Open Upstox Account (FREE)

Features and Services of Upstox

Upstox offers a range of features designed to meet the needs of traders and investors at every level. From real-time market data to customized charting tools, users have access to numerous resources to make informed decisions. Key features include:

• User-Friendly Interface: Both on web and mobile, the interface is intuitive, enabling users to trade smoothly.
• Advanced Charting Tools: Customizable charts with over 100 indicators support technical analysis.
• Fast Order Execution: Ensures that trades are completed quickly, which is essential for active traders.
• Various Investment Options: From equities to derivatives and mutual funds, Upstox provides access to a broad range of assets.
• Low Brokerage Fees: Designed to make trading affordable, especially for intraday and options trading.

Upstox Trading Platforms

Upstox Pro Web

The Upstox Pro Web platform is a browser-based trading solution that allows users to access trading features without downloading any software. Key highlights include:

• Real-Time Data: Users get real-time data on stock prices, market news, and trends, essential for decision-making.
• Customizable Interface: Traders can personalize the layout, adding watchlists, charts, and other tools.
• Speed and Reliability: The platform is optimized for speed, which helps prevent lags and delays during trades.

Upstox Pro Mobile

For users on the go, the Upstox Pro Mobile app is a powerful option. Available for both Android and iOS, it brings the best of Upstox’s features to a mobile interface, ensuring:

• Seamless Trading: Execute trades, check real-time prices, and manage your portfolio directly from your phone.
• Intuitive Layout: A user-friendly design that organizes tools, news, and stock information conveniently.
• Performance: With regular updates, the app remains fast and responsive, even during high trading volumes.

Account Types on Upstox

Demat Account

A Demat account with Upstox is essential for holding shares and other securities in an electronic format, providing:

• Ease of Management: Keeps all your shares in one place.
• Security: Safeguards your holdings with advanced security measures.

Trading Account

The trading account is where you actively buy and sell stocks. With Upstox’s competitive brokerage fees, it’s particularly advantageous for:

• Intraday Traders: Quick execution and low costs make it ideal for frequent trades.
• Options and Futures Traders: Flexible plans make it appealing for derivatives trading.

Mutual Fund Account

For users interested in mutual funds, Upstox offers a dedicated platform with features such as:

• Wide Selection: A broad range of mutual funds from different categories.
• Simple Interface: Makes it easy for investors to compare and select funds.

Upstox Brokerage Plans

Upstox’s brokerage plans are designed to appeal to cost-conscious traders. They include:

• Equity Delivery: ₹20 per order brokerage fees.
• Equity Intraday and F&O: Flat Rs. 20 per trade, making it affordable for high-volume traders.
• Commodities and Currency: Also available at Rs. 20 per trade for futures and options.

Compared to other platforms, Upstox is one of the more economical choices, especially for active traders who need low transaction costs to make frequent trades viable.

Account Opening Process with Upstox

Opening an account with Upstox is straightforward and can be completed entirely online. Here’s a step-by-step guide:

1. Visit the Upstox Website or App: Start by navigating to the official Upstox website or downloading the mobile app.
2. Sign Up with Basic Information: Enter essential details such as your name, mobile number, email, and set up a password.
3. Verification Process: You’ll need to verify your phone number and email via OTPs sent to your registered contact details.
4. Upload Required Documents: Essential documents include your PAN card, Aadhaar card, bank account statement, and a recent photo.
   • PAN Card: Mandatory for tax identification.
   • Aadhaar Card: Used for address verification and linking with e-KYC (Know Your Customer).
   • Bank Statement: Typically required for the past six months to verify your financial credentials.
5. E-sign with Aadhaar: Upstox allows users to e-sign their application using Aadhaar’s e-KYC, making the process quick and paperless.
6. Wait for Approval: Once submitted, Upstox reviews your application, typically confirming within 24–48 hours.

With digital account opening, users can begin trading swiftly, sometimes within a day. This ease of use makes Upstox particularly appealing for new traders.

Trading Products Available on Upstox

Upstox provides a variety of trading products catering to diverse investor interests:

• Equity: Buy and sell shares of companies listed on the stock exchanges.
• Commodities: Trade in goods like gold, silver, crude oil, and agricultural products.
• Futures and Options (F&O): Advanced trading for speculation or hedging, ideal for experienced traders.
• Currency Derivatives: Involve trading in foreign currencies, allowing users to hedge against currency risk.
• Mutual Funds: Long-term investments across various funds, available through Upstox’s mutual fund platform.

Each product type is accessible through Upstox’s unified interface, providing convenience and comprehensive access for diversified trading.

Pros and Cons of Upstox

Upstox has gained popularity for its affordability and accessibility, but like any platform, it comes with both strengths and weaknesses:

Pros

• Low Brokerage Fees: Upstox offers highly competitive fees, especially for intraday and options traders.
• Easy Account Opening: The account setup is fast, paperless, and entirely online.
• Advanced Tools: Tools such as charts, indicators, and market data make it ideal for technical analysis.
• Mobile-Friendly: A robust mobile app for trading on the go.
• Good for Beginners and Advanced Traders: Offers features for both novice and experienced investors, with educational resources included.

Cons

• Limited Customer Support Options: Lack of phone support can be frustrating for some users.
• Lack of Direct International Stocks: Unlike some competitors, Upstox doesn’t allow direct access to international stocks.
• Occasional Technical Issues: Some users report occasional lags or bugs, particularly during high market activity.

These pros and cons highlight how Upstox performs in practice, balancing affordability with a few limitations.

User Interface and Experience

The user interface of Upstox is clean, organized, and user-friendly. Both the web and mobile platforms feature:

• Customizable Dashboards: Users can set up personal dashboards with their preferred stocks, watchlists, and indicators.
• Quick Access to Charts and Analysis Tools: Traders benefit from the range of analytical tools that allow them to study trends effectively.
• Responsive Design: The design is optimized for various devices, allowing for smooth transitions between the desktop and mobile app.
• Order Execution Speed: The platform is optimized for high-speed trades, essential for intraday trading.

Overall, Upstox’s interface is built to be intuitive, enabling both beginners and experts to navigate the platform with ease.

Upstox Charges and Fees

While Upstox’s fees are generally low, understanding the complete structure of charges is important:

• Account Opening Fee: Generally around ₹150, though this may vary based on promotional offers.
• Annual Maintenance Charge (AMC): Typically ₹150 per year for the Demat account.
• Trading Charges:
  • Equity Delivery: Zero brokerage.
  • Equity Intraday: Flat ₹20 per order, regardless of order size.
  • F&O, Commodity, and Currency: ₹20 per order.
• Other Charges:
  • Regulatory Charges: As per SEBI guidelines, these include STT (Securities Transaction Tax), stamp duty, and GST.
  • Call and Trade Charges: ₹20 per call if users choose to trade over the phone.

With these competitive rates, Upstox offers a cost-effective solution for high-frequency and intraday traders, though occasional or low-volume traders might also find it beneficial.

Upstox Customer Support

Customer support is essential for trading platforms, and Upstox offers several ways to reach them:

• Email Support: Users can email Upstox for queries and typically receive responses within 24 hours.
• Chat Support: Available on the website and mobile app, providing real-time assistance.
• Help Center: Comprehensive help articles and FAQs covering various topics.

However, Upstox lacks dedicated phone support, which can be a limitation for users needing immediate help. For general inquiries, the chat feature is efficient, while more detailed issues are addressed through email.

Upstox Security Features

Security is a priority for Upstox, ensuring the safety of both user data and transactions:

• Two-Factor Authentication (2FA): Adds a layer of security, requiring OTP verification for transactions.
• Data Encryption: Protects personal and financial data with advanced encryption protocols.
• SEBI and NSE/BSE Registration: Upstox is registered with SEBI and complies with Indian regulatory requirements, which builds trust with users.

Upstox’s focus on security features reassures users that their funds and data are safe, making it a trustworthy platform.

User Reviews and Feedback

User feedback on Upstox is mixed but leans positive. Here are some common themes:

Positive Feedback

• Affordable Fees: Many users appreciate the low cost structure.
• Good Mobile Experience: Positive remarks on the mobile app’s design and usability.
• Fast Execution: Users enjoy the quick order execution, especially intraday traders.

Negative Feedback

• Customer Support Limitations: Some users report delayed responses from customer service.
• Technical Glitches: Occasional issues with app performance, particularly during peak trading hours.

User reviews suggest that Upstox performs well in most aspects but has room for improvement in customer support.

Who Should Use Upstox?

Upstox is a versatile platform that suits different types of traders:

• Beginners: Thanks to its easy account setup and user-friendly interface, Upstox is welcoming for newcomers.
• Intraday and F&O Traders: With flat, low brokerage charges, intraday and options traders benefit from cost savings.
• Long-Term Investors: The platform offers options for equity delivery and mutual fund investment without high fees.

While Upstox is generally versatile, those looking for phone support or international stock trading may consider other platforms.

Final Verdict: Is Upstox Worth It?

In conclusion, Upstox delivers a strong trading experience at an affordable rate. The platform’s low fees, user-friendly interface, and robust trading tools make it a solid choice for traders and investors in India. However, those needing extensive customer support or a wide range of asset classes might explore alternatives. Overall, Upstox provides excellent value for most trading needs, making it a top option for budget-conscious traders.

Conclusion

Upstox stands out as an affordable and accessible platform for trading in India, catering to beginners and advanced traders alike. With a low-cost structure, user-friendly tools, and robust security features, Upstox is an appealing choice for those looking to maximize their trading experience without overspending on fees.

8.7Expert Score

Most Trusted Discount Broker

Upstox is India's 4th biggest stock broker, and its platform is known for being easy to use and low-cost. Upstox has millions of users and was founded in 2009. Its main goal is to make trading easier for beginners while also providing tools for more experienced traders.

Features & Services Provided

9

Brokerage Charges & Fees

9.1

Users Rating

9.5

User Interface

9.5

Customer Support

9.4

PROS

• No fees to open the account.
• No brokerage fees in mutual funds.
• Provide direct mutual funds
• Trading software that is free to use
• One app that may be used to trade in equities, currencies, and commodities
• There is a margin against share that may be used

CONS

• Equity delivery is not Free
• There are no unlimited monthly subscriptions available
• NRI Trading and Demat Accounts are not available with Upstox.