The Upstox is one of the recognized widely growing discount brokers currently in Mumbai, India. These discount brokers are well known for providing quality goods and services in plenty for consumers to choose their favorites. It was earlier used the name RKSV before they considered changing the name of the entity to Upstox.
This article is aimed at drawing highlights on; Upstox account and Demat account opening, brokerage charges, brokerage plans, disadvantages and advantages and many more features as well.
Upstox Trading Platforms
Basically, depending on the flexibility of trading services and reliability of broking platforms, Upstox out wins all the existing discount brokers. It’s investors are more likely to expertise their experience with ease than when employed by the other broking platforms. Below is the list of the platforms which are available through the company efforts to its users:
1. Upstox Pro Trading Terminal
This is a Upstox trading platform programed on the desktop, through which the Upstox users can successfully buy and sell their favorites stocks. Through this platform, Upstox users are in position to have critical analysis of the available stock and price, not just randomly landing on stock which later they can find it not useful. The features are easy to operate and find the favorable products displayed. Everything with this platform is made possible.
Features of Upstox pro trading platform:
- The Upstox platform offers the traders an added advantage facilitating lightweight measures.
- With this platform, users easily have a thorough exploration of the trading stock.
- The only basic requirement for this platform to function effectively is basically a reliable internet connection.
2. Upstox Pro App – Upstox Mobile Trading App
This mobile are designed and availed for use to the Upstox traders. This is one of the recognized reliable trading platforms which are flexible, allowing the traders to trade from anywhere at ease. Through this, with effective network supply, the traders are in position to boost and maintain higher profits margins.
Features of the Upstox Pro mobile app:
- Android users are more excited by this app due to its flexibility.
- There is the ease of selling and buying reliable stocks using this app.
3. Upstox Pro Web – Upstox Online Trading Platform
Upstox has gained momentum to out win all the performing discount broking companies in India. Currently it’s the leading in performance. It’s services are more convenient to its users and the others who are likely to join the company and it’s investors. This is aimed at enhancing easy trading for the aforementioned. This platform is web-based and it therefore gives the investors a great chance to trade with flexibility, depending on their time fixtures and also they can trade from anywhere and also allows versatility in the trading.
Running this Upstox platform, it requires somebody to have a laptop, computer or mobile phone which is compatible with the app installation. Browsers such as Google chrome can be easily be used to access the Upstox web-based trading platform.
Features of the web-based trading platform:
- This platform is accessible through any kind of browser ranging from Google Chrome, Mozilla or Firefox among others.
- It only requires very reliable sources of internet.
- It’s designed in a way that users gain trading experience whenever they use them for long.
Upstox Brokerage Charges and Fees
Upstox is a well known and established discount broker in India. Its main operational offices are situated in Mumbai city. Its aim is the Provision of multiple stocks to consumers at a very low and affordable cost. Below is a tabular presentation of the details about Upstox brokerage charges.
Upstox Brokerage Charge and Fees
- Equity Delivery Trading – Zero
- Equity Intraday Trading – Rs.20
- Commodity Options Trading – Rs.20
- Equity Futures Trading – Rs.20
- Equity Options Trading – Rs.20 per lot
- Currency Futures Trading – Rs.20
- Currency Options Trading – Rs.20 per lot
- Minimum Brokerage – Rs.20
- Demat AMC Charges – Rs.150 per annum
- Trading AMC Charges – Free
- Margin Money – Zero
The main objective of the above table is provision of reliable cost which somehow will be great to consumers and fit for their pockets. The above table is more of offering freedom to individuals, not limiting any of the buyers on the number of items to purchase at a go. Everyone can transact as much as possible without limited access to services and products.
- Equity delivery – Free or No charge
- Intraday – Lower of Re. 0.01 or Rs. 20 per order traded
- Other trades – Rs. 20 per order traded
With Upstox, the investors have the privilege to enjoy a very unique advisory on how to enhance their margin of trade. With Upstox, the investors are allowed to to keep their investment as collateral and for Upstox to comply to this agreement, they enhance the trading margin. Upstox, just like other investors do, they do offer the fee and brokerage calculator just for convenience measure observations. RKSV or other Upstox doesn’t levy its investors concerning breach of some of the restrictions such as minimum balance maintenance and account status management as well. Just if anyone chooses to close their account or any software services, Upstox offers this on a free basis. There are no fee attached to such services like other brokerage do.
How to Open a Demat Account with Upstox?
Look for the preferable and best broking company before you decide to open and account. This will basically be in line with some factors such as brokerage charges, the available trading platform in the company and the customers service user interface provided. In case you are considering buying and selling various securities such as- mutual funds, shares etc online, having a Demat account is very essential for this. The Demat account offers cheap and fast trading.
As usual, on applications, customers can easily get online services and can easily be helped through the process of Demat account opening. The application is always based on the customer’s flexibility on time fixtures and convenience.
Upstox Online Demat Account Opening Procedure
The most convenient means of Demat account opening is the online because it’s leads to reduced paperwork and Aadhar based on the Demat account opening .
Steps to open a Demat account online:
- There is an Agree button indicating “open Demat account” Click on it.
- Fill in all the required details including your name and the other details,and click on the submit icon
- When using this method, you are supposed to have all the documents (Aadhar card, the proof of your address, age proof also, PAN card and a photograph) all in soft copies to make online submissions.
- Verify your Aadhaar documents before accurately submitting them and consider to enter OTP to aid successful verification of your identity.
- That marks the end of the registration and you are now at a go to use your Demat account without any issues with it.
- Once the document verification is done with the company, they will send you an account number which is known as UCC(Unique Client Code) or BOID(Beneficial Order Identification Number)
- In addition, you will get account credentials such as account login password, log-in ID and any other information relevant to the trading platform.
Upstox Exposure / Leverage
The table chart below is a provisional data regarding exposure o
- Equity Delivery – Up to 5x
- Equity Intraday – Up to 20x
- Equity Futures – Up to 7x
- Equity Options – Up to 8x
- Currency Futures – Up to 5x
- Currency Options – Up to 6x
- Commodities – Up to 7x
Margin Calculator Up tox Margin Calculator
This company, as shown above, provides the highest live rage on equity intraday and equity options.
Upstox Pros and Cons
- On the equity delivery trading segment, The Broker offers free brokerage trading. That is, customers do not have to pay for the delivery of stocks.
- The Broker is compatible to Android and iOS mobile apps which are designed to facilitate Upstox trading. All this software operating for Upstox is free.
- The mobile and web are incapacities to provide all orders ranging from After Market Order (AMO), Cover Order and Bracket Order(BO) or One cancels Other (OCO).
- Both web and mobile offer the trailing – stop or stop-loss.
- The Upstox Pro Web Trading Platform, is in position to offer a wide range of indicators to monitor markets on-the-go.
- Upstox Developer Console can aid code building to your own trading application by use of python.
- Upstox Option Chain Tool helps traders and consumers find out Spot, predictable Future prices, vertical comparison of rates between different brands , also help in getting details such as circuit levels, the Open High, Low or Close and market depth.
- Upstox offers Margin Against Shares.
- For customers who may need higher leverage, Upstox offers priority brokerage for them.
- They do not offer the (GTC) Good Till Canceled and Good till Date (GTD) ut instead only offer them in commodities.
- With Upstox, margin funding is not a necessity on delivery trades and they therefore do not provide. Only higher leverage is available in Upstox pack accounts.
- Upstox brokerage fee per trade is too high (₹20) compared to other brokerage firms offering the same service.
- They do not offer unlimited monthly trading plans.
- The calls and trade fees have an extra charge of ₹20 for every executed order.
- There are no stock tips on the recommendations that they provide to the customers and traders.
- They do not provide the 3in 1 account opening account. This is to means the stock and shares of the traders are at risk.
- They do not offer 24/7 customer services.
- The Upstox NRI trading and Demat account have been scrapped from the system.
- The provision describe in the basic plan dictate that brokerage charges are free but customers are entitled to pay Demat transaction charges. The Demat debit transaction charges lie at ₹21.83 which is very high compared to the charges from other broking firms who charge fee of ₹15.93 for the same purpose.