Upstox Review 2020: Read Before you Open a Demat Account

Upstox is one of the leading brokers providing Demat accounts in India. In fact, it comes second after Zerodha. With a turnover of Rs 15,000 crores daily, it provides an extremely reliable platform for trading to new as well as experienced traders.

Today, the company deals in a number of exchanges including NSE, BSE, MCX, and MCX-SX and trading segments like equities, commodities, currency, futures and options. It also has NRI trading options.

UpStox Review 2020: Everything you Need to Know

Upstox continuously works on upgrading itself and providing a smooth interface for trading. Here are some key features that make Upstox highly desirable for traders.


1. Allows Various Exchanges

Upstox knows how to be on top of the game. It offers a wide range of exchange options for its traders including BSE, NSE, MCX and MCX-SX

So, with Upstox, you have an open platform to try your luck and learn everything about trading, which brings us to the next feature.

2. Regular Trading Seminars

If you are a new trader and relatively clueless about the trading game, then Upstox has the right thing for you.

They continuously hold seminars to help new traders and clear their doubts. These seminars are really beneficial if you want trading to be long term and more than just an investment.

3. Number of Trading Platforms

Upstox offers a number of trading platforms to give their users an easy and efficient way of trading. Currently, it offers web application, mobile application and trading software for advanced traders.

The trading platforms have a number of features that make trading easy by providing a complete analysis of the trader’s activities.

4. Low Brokerage

One of the main attractions of Upstox trading is the low brokerage it offers. When compared to other brokers, it has much more affordable prices.

Here is a brief overview of their brokerage plan.

Trading account opening charge – Rs 150

Trading account annual maintenance charge – Rs 0

Demat account opening charge – Rs 0

Demat account annual maintenance charge – Rs 150

Upstox Basic Brokerage Plan

Equity DeliveryRs 0
Equity IntradayRs 20 per trade or 0.01% (whichever is lower)
Equity FuturesRs 20 per trade or 0.01% (whichever is lower)
Equity OptionsRs 20 per trade or 0.01% (whichever is lower)
Currency FuturesRs 20 per trade or 0.01% (whichever is lower)
Currency OptionsRs 20 per trade or 0.01% (whichever is lower)
CommoditiesRs 20 per trade or 0.01% (whichever is lower)

Upstox Priority Brokerage Plan

Flat Monthly FeeRs 0
Equity DeliveryRs 0
Equity IntradayRs 30 per trade or 0.05% (whichever is lower)
Equity FuturesRs 30 per trade or 0.05% (whichever is lower)
Equity OptionsRs 30 per trade or 0.05% (whichever is lower)
Currency FuturesRs 30 per trade or 0.05% (whichever is lower)
Currency OptionsRs 30 per trade or 0.05% (whichever is lower)
CommoditiesRs 30 per trade or 0.05% (whichever is lower)

5. Higher Margins

Upstox has provided the margins for various trading segments.

Equity Delivery / IntradayX20
Equity FuturesX4
Equity OptionsX4
Currency FuturesX4
Currency OptionsX4

Key Features of Upstox Pro

The trading platforms provided by Upstox has a number of features that makes trading easy and efficient for both new and experienced traders. Their features help in analyzing the market and aid you in making the right decisions.

1. Powerful Charts

If you have been trading for a while, then you must be aware of the importance of a detailed chart. They help you understand market trends and helps in making informed decisions.

Upstox pro comes with powerful charts that are regularly updated and display the current status of the marketing. For beginners, it is not too difficult to understand the working.

If you are looking at trading as a long-term plan and more than just an investment, then Upstox can be really beneficial for you.

2. 100+ Indicators

Indicators are a very important part of trading. Knowing the growth or fall of the market and predicting the charts is the one thing that makes up 50% of the trading work.

Upstox has more than 100 indicators that work off different segments and provide well-detailed indicators that can be customized according to your needs and your expectations from your trading account.

3. Place Pro orders

Upstox Pro lets you place your orders with ease while you can analyse their growth side by side through updated charts.

It allows you to place cover orders and bracket orders with extreme ease. It is especially beneficial for beginners who are still learning the ups and downs of trading.

4. One Click Trade

One of the features that make Upstox Pro highly desirable is the one-click trade option.

Upstox one click trade

This feature is highly useful especially during high volatility. You don’t have to perform long procedures to sell your shares as long as you confirm your choice.

But you will have to pre-set your order preferences, so you don’t make an impulsive decision.

5. Customize Your Workspace

Upstox offers its users to go all professional and customize their workspace according to their needs.

The user can focus on displaying certain segments or prioritizing certain shares over others. It makes trading more organized and personalized, which was definitely a task.

There are also several widgets that you can choose from as per your requirements.

Ease of Use

One thing that you must look for when looking for an online trading platform is how easy it is to navigate the platform.

With Upstox, it is not very difficult to find your way around different widgets and learn the basics of trading. They hold regular seminars that are useful to understand the workings of trading and most of the times you do learn a few tricks.

They are a good source of increasing your knowledge and your returns.

But one thing that I must point out is that their customer services are something that you shouldn’t look up to. They are a bit tardy and mostly, not helpful.

Getting Started With Upstox

Setting up a demat account with Upstox is relatively easy when compared to online brokers.

You can either choose the online method, which is fast and completely reliable, or you can follow the old way and fill up physical forms and submit them through brokers. But make sure you have gone through all the costs and know what you are paying for.

The demat account is free for the first seven days, and it’s your choice to decide whether you want to continue or not, so that’s a plus.

Sign up to open a demat account from their website.

Next, after filling your basic information, you will have to provide your identification and financial proofs with aadhar card, PAN, cancelled check and your latest bank statement.

Since the company doesn’t provide banking services, there are no three-in-one accounts available.

For the offline procedure, you will have to follow the same process with the exception of finding a broker and providing physical copies of all the required documents.

Types Of Accounts

Currently, Upstox offers one two-in-one account where the user gets an option between choosing different segments (Equity, commodity and currency).

So, make sure you know exactly what you want to deal in before proceeding to open an account.

Types of Trading Plans

Unlike accounts, Upstox offers two kinds of trading plans; basic trading plan and the priority plan.

Basic Trading plan

The basic trading plan offers less leverage than the priority plan. The expected margin on equity delivery is 15 times.

Despite the less leverage, it has the advantage of low brokerage.

For new and first time traders, the basic trading plan is the best to try out their hand in trading.

Priority Trading Plan

Unlike the basic trading plan, the priority plan offers much higher leverage and the expected margin on equity delivery rises to 20 times.

With higher leverage, the priority plan comes with a higher brokerage. Where the brokerage is Rs 20 per order for a basic plan, it increases to Rs 30 per order for priority plan.

The priority plan is best for experienced traders who look at trading as more than just an investment.

Trading Platforms

Upstox provides a number of trading platforms to give the users a comfortable experience and a place where they are eager to invest their time and money.

Upstox Pro Web

upstox pro trading example

This web-based application lets you trade from the website and efficiently provides up-to-date charts and reports.

It is integrated with more than 100 indicators and widgets that the user can use to customize their workspace and set up the application as per their needs.

It also allows them to prioritize some segments over others.

Upstox Pro Mobile

Upstox made sure that their users have a stress-free experience by having a look at the market whenever they wish to.

With the mobile application, you get the market in your hands. It allows you to buy and sell orders and also stay updated with the current market status.

The mobile app is available in iOS and Android versions.

Algo Lab

Algo Lab is a developer platform that integrates Upstox with Amibroker Bridge and helps in cross trading of products.

With Algo Lab, you can perform three main functions.

  1. Generate orders from Amibroker AFL.
  2. View orders on the web and mobile applications and execute them from anywhere.
  3. Get market data feed plugin at a discounted price.

One should think about investing in Algo Lab if they have in-depth knowledge about trading. New-comers should probably wait a few months.

Mutual Funds

Not exactly a ‘trading platform’, mutual funds classify as one of their products. Available online, Upstox provides investment services through mutual funds for users who do not have enough time and patience to invest in trading.

Upstox has a number of different schemes and mutual funds that are segregated according to the needs of the investor.

For instance, the most popular are tax saving mutual funds (Invesco India tax, Tata India Tax Saving Funds, Aditya Birla Sun life tax relief 96) and high return mutual funds ( L&T Emerging Businesses Fund, ICICI Prudential Nifty Next 50 Index Fund, DHFL Pramerica Large Cap Fund).

So, even if you are not sure about starting trading and jumping into the stock market, you still have the option of growing your dormant money.

Other Platforms

Upstox has several partnered platforms that prove to be extremely reliable for traders.

  1. DartStock

Partnering with iDarts, Upstox introduces this desktop-based platform for professional traders. It helps in understanding market movement and helps in seizing opportunities with its updated information.

  1. NEST Trader

Another desktop-based platform, it is also one of the most popular ones. With features like customizable interface, advanced charting, low latency and multi-monitor support, it makes our task extremely easy.

  1. Fox Trader

This last desktop-based platform on our list is also one of its kind. Housing features like backtesting and live scanning, automating strategies, sharp analysis and reducing risks by determining orders, it becomes the most advanced and reliable one.


  • The brokerage fee is affordable when compared to many other online brokers.
  • They have multiple trading platforms available.
  • Upstox Pro has 100+ indicators that make trading easy.
  • You can opt for priority pack for higher leverage.


  • There are several other discount brokers available that offer better deals.
  • No facility of 3-in-1 account
  • Brokerage free trading is only available for equity delivery.
  • Customer service is not up to the mark.

Upstox Review: Summing It Up

With this, I finally come to an end of this review. I have shared almost everything that you will need to know before deciding whether Upstox is for you or not.

For me, I think Upstox can prove to be really helpful for newcomers and beginners as its interface is easy to understand and they have several videos and pre-recorded seminars for help.

On the other hand, their customer service is very worrying and not very reliable, so be prepared to face difficulties there.

Also, for regular traders, I will say that there are bigger fish in the sea.

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