Upstox, a new discount stock broker in India formerly known as RKSV Securities. It is claimed to be endorsed by Ratan Tata, Kalaari Capital and GVK Davix. The Retail operations of Upstox is started way back in January 2012 by three founders namely Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. It currently contributes almost Rs. 7,000 crores in daily turnover on National Stock Exchange of India Ltd. It is a decent trading platform with reasonable exposure and low brokerage charges.
Upstox allows it customers to invest in different trading platform such as Commodity, equity, currency, options, futures, NRI trading etc. Upstox is a member of NSC, BSE, MCX-SX and MCX. Upstox values its customer, and for the education of their customer, it organizes conference and seminars in different locations across India.
The trading platform is user friendly and is developed by in-house experts. Upstox NEXT trading platform is the desktop version, can be installed in any laptop or desktop. It has features of advance trading tools for high frequency traders and investors. The other feature includes customized interface as per clients preference, technical analysis using charting features etc. The tools designed up Upstox is user friendly and built by keeping in mind to assist an investor with their analysis. Some of the tools are mentioned below:
Options strategy builder: It helps in supervision of various options and alternative instrument chosen.
Span margin calculator: Regulates the margin available.
Brokerage calculator: Helps in keeping an eye on savings, earnings etc.
Upstox pro web and pro is meant for desktop and mobile respectively. Pro web can be accessed from any browser. It has features of high functional charts with over 100 indicators and charts that allow users to constantly monitor the activity of markets and stock trends. Upstox pro for mobile is one of the most user friendly sophisticated app for trading in mobile. Some of the features include live streaming of prices and values of NSE cash, NSE currency, BSE cash etc. Money can be easily transferred in 40 banks using the app.
Some of the features of the platform of Upstox are:
Deep analysis of the investment.
Swift margin analysis
Simple procedure, monitors real time margins.
One click hassle free trades.
Customer service is very active and offers its client to get in touch with the stock broker using phone, email, social media, web-form. Toll-free numbers are available which allows customers to reach the stock broker easily and to get service on the move. This features benefits the regular traders quick assistance. All these features made Upstox a better, efficient and reliable trading platform.
Brokerage Charges and Fees:
There is no hidden charges, the brokerage charge is Rs 20 fixed for Cash, Options, Currency futures, MCX futures. No matter how many lots of Options, futures etc you trade, you just need to pay Rs 20 for that particular order. The process is transparent and no other additional charges is present, apart from the transactional charges. The transactional charges charged by the stock broker is as par the market standard. Still it is suggested, one should get all the information and the process of documentation from the broker before you go ahead and open an account with the broker. The details of charges are provided below:
|Equity Intraday||325.00 (For NSE)|
|Equity Delivery||325.00 (For NSE)|
Upstox does not levy any restrictions such as account status maintenance, minimum balance maintenance etc. It also offer a brokerage/fee calculator, just like most of the other competitor do. There are certain plans where one can trade a number of transactions without any restriction. The fixed charges is mentioned below:
Equity delivery: No charge
Intraday: As low as Re. 0.01 or Rs 20/order traded.
Other trades: Rs 20/order traded.
The details on the margins provided by Upstox is mentioned below:
Equity Up to 20 times intraday.
|Equity features||Up to 4 times for intraday.|
|Equity options||Up to 4 times for intraday.|
|Currency futures||Up to 4 times for intraday.|
|Currency options||Up to 4 times for intraday.|
|Commodity||Up to 3 times for intraday.|
Customer looking for high value investment can look for some newly introduced pack launched by Uptox. A minimal subscription fees needs to be paid monthly. Below is the high leverage value options:
NSE options buyNA
|Equity||Up to 20 times.|
|Stock futures||Up to 4 times|
|Index futures||Up to 6 times|
|Index option sell||Up to 6 times|
|NSE currency||Up to 4 times|
|Stock option sell||Up to 4 times|
Upstox can be the best choice for any first time trader, because of its unique suite and platform. Though Upstox still offers regular mutual fund, rather than direct mutual fund. Long run investment may make some differences in brokerage charge in regular mutual fund. Unlike most of the other trading or stockbroking farms, Upstox provide its own demat account, where one can easily transfer fund to almost 40 nationalised bank.
There are some disadvantage associated with Upstox. This needs to be clearly studied by an investor before opening an account with a broker.
One cannot invest directly in IPOs, FPOs or even mutual funds. There is no provision as of yet now.
Additional Rs 20/trade is required for call and trade features.
Under equity segment, Good till cancelled orders are not available.
The platform does not suits small screen.