In the past few years, Discount brokers are gaining huge popularity in India. So, we thought of sharing unbiased reviews and useful information on different discount brokers in India. Upstox is referred as technology first low cost discount broker. Here, you shall know the process of Demat and Trading Account opening & brokerage charges while opening an account with Upstox. An exclusive Upstox Review is there to guide you on your investing path.

Upstox Review: A Glimpse

RKSV Securities known as Upstox is a discount broking company. This is quite different from a full-service broking company. It was established in 2011, with an objective “to provide an easier trading platform and at a low brokerage”.

The company changed its name to Upstox in 2016, aligned with its mission “to make cutting-edge trading software accessible to every citizen of India so that trading and investing in the stock markets is possible for all.”

Therefore, Upstox provides its services through online mode. In fact, online portal access is a common feature of most of the discount brokers in India.

Discount Brokers in India provide services at very low rates of brokerage. However, they do not provide the value added services like investment advisory, research report, relationship management and other services.

Upstox Features

  • You can enjoy low pricing benefits.
  • You have the power of advanced charting and lightning fast market data.
  • The full bouquet of service is offered through its website that’s quite easy to scroll.
  • Web and mobile-based share trading terminal further eases the investing and trading process.

Upstox (RKSV): Product and Services offered

  • Equity Trading
  • Derivatives Trading
  • Commodity Trading
  • Demat Services
  • NRI Trading
  • Mutual Funds
  • Tools and Calculators like Brokerage, Margin, Options calculator.

Upstox Account Opening & Annual Maintenance Charges:

  • Upstox Demat Account Opening charges: NIL
  • Upstox Demat Annual Maintenance charges: Rs.150 (upfront)
  • Upstox Trading Account Opening charges (one time): Rs.150 for equity, F&O & Rs.150 for commodity
  • Upstox Trading Annual Maintenance charges (AMC): NIL

Adding all the above, Total account opening fee: (150+150+150)+18%GST= Rs.531 only

Upstox Brokerage Plans

Upstox charges flat Rs. 20 brokerage/ trade from its customers or .01% (whichever is lower). Brokerage for equity delivery is not charged from customers.

The details of brokerage and margin by Upstox:

  • Basic Plan: Flat Rs 20/ trade brokerage or .01% (whichever is lower).
  • Priority Plan: Flat Rs 30/ trade brokerage or .05% (whichever is lower).
  • Intraday leverage of 15x on equities for FNO listed scrips, 2x for scrips with 20% circuit limit, 3x on NSE F&O, 3x on BSE/NSE Currency F&O and 2.5x on MCX Futures
  • Special Margins (Cover Order or Bracket Order): 20x on NSE/BSE Cash, up to 6x in NSE Futures, Up to 4x in Currency futures, up to 3x in MCX.
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For a detailed review you may also explore Upstox Demat and Trading Account

Transaction Charges

 Transaction Cost for 1 crore turnover
Equity IntradayRs.325
Equity DeliveryRs.325
Currency FuturesRs.110
Currency OptionsRs.4000
MCX- CommodityRs.260

You may also like: Commodity Trading Risks: Ways to Manage Risk

Upstox Trading Platform 

Upstox provides 3 trading platforms to its customers:

1. Upstox Pro web:

The platform can be accessed from the web browser. Few important features of Upstox Pro Web are:

  • Depth of book widget (to spot imbalances quickly and liquidity)
  • Real-time margin
  • One click trade
  • Keyboard shortcuts

2. Upstox Pro mobile:

The platform can be accessed from ios and android mobile devices. The main highlights of the app are:

  • Cross platform (accessed from multiple devices)
  • Auto reconnect
  • Easy fund transfer
  • Instant notification
  • Real-time quotes

In fact, these exclusive features make it a great user interactive platform to trade from.

3. Nest Trading terminal:

A desktop based trading software especially developed for the trading needs of high-value elite traders.

You may also like to explore: Omnesys NEST Review: Algo Trading Platform in India

The numerous benefits of this platform are:

  • Customizable interference
  • Low latency and enterprise level stability
  • Multi-monitor support
  • Advanced charting
  • Advanced order types
  • Mouse and keyboard friendly

Upstox Demat & Trading Account Opening: Process & Documents Required

Upstox review, Upstox demat and trading account, Upstox brokerage, Upstox You can open a demat and trading account through simple online mode. The account opening process and verification takes just few minutes.

So, one needs to upload the scanned copies of following documents:

  • Aadhaar Number
  • PAN Card
  • Cancelled Cheque or latest bank statement with IFSC/MICR code mentioned on it.

For verification, you shall receive an OTP online on your mobile number that has been registered to your Aadhar card.

But, if you are not comfortable with the online process for opening account, you can download the form. Complete it and send all the required documents through courier.

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Upstox Account: Pros & Cons


  • In the Basic plan, you are charged a flat brokerage rate of Rs 20 per trade or .01% whichever is lower.
  • No brokerage is charged for equity delivery trade.
  • You can open Demat and trading account in few minutes with digital KYC.
  • An advanced trading platform to use.
  • A responsive customer support service.
  • No unnecessary value added services being offered to the clients.
  • It offers IPO investment & SIP investment also.


  • No research reports are usually generated for clients.
  • Call and trade facility is charged Rs 20/call.
  • No facility of relationship manager.

Upstox referral program

Upstox has designed a referral program for its existing customers. Now, for every new demat account which has been referred by you, you can earn a certain % of brokerage for every trade of referrers. This helps in bringing down the overall cost for investors as well as the company.

Upstox Review: A Final Conclusion

Upstox is an online brokerage firm provides services at very competitive rate. Discount brokers are most suitable for frequent traders and investors with high trade amount who do their own research and analysis before investing.

One of the key aspects of trading with upstox is advanced trading platform which hosts a bulk of features for stock analysis. This type of brokerage is suitable for traders and investors who depend on their Relationship Manager for execution and advisory services.

No doubt, you can find various stock brokers offering demat account with low brokerage around. So, having a look at other service providers is also a cool idea.

Upstox: Frequently asked questions (FAQ)

Q. What are the Upstox Demat account opening charges? Is there any annual maintenance fee (AMC) associated to it?

A. There is no annual maintenance fee (AMC) for Upstox trading plan. An opening of account is free with Upstox. You require a valid Identity proof like Aadhar or PAN card. With new E-KYC Aadhaar technology, you need to fill in details of Aadhar Card, PAN card and picture of your documents which needs to be uploaded.

Q. Do you provide any trading/stock tips and advisory?

A. Upstox does not provide any advisory service related to stock trading and investing strategies. In order keep cost low for the customers, Upstox only focuses on its core service offerings with top-notch customer service and platform stability.

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Q. What type of accounts can a client open with Upstox?

A. Upstox only allows opening of an individual or an HUF account.  As of now, company, corporate or partnership types of accounts are not allowed. Commodities Trading is only allowed to individual accounts only.

Q. How do I open an Upstox account?

 A. Upstox provides multiple channels for the opening of a demat & trading account. You can choose from online mode or offline mode. Online mode is a bit hassle free. Otherwise, in offline mode you can post your of documents. You can get help through executives that assist you in completing the entire process.

Online: The easiest way to open an account is online. You have to visit and fill in your details, including Aadhar card number and Pan Number. Verification of documents will be done on real-time. You need to upload proofs of your identity, address and earnings online and your account will be opened. To verify, you will receive an OTP online on your mobile number which is registered to your Aadhar card.

Offline: By sending courier of filled printout of forms and necessary documents to their office address.

Q. How much margin is available with Upstox?

A. Intraday margins are provided on Equities, Futures and Currency Futures segment. Upstox does not provide any margin for delivery based trade.

So, this was our compilation on one of the specialised discount brokers in India. We shall be covering other leading discount brokers in a series of other posts. Did you open your Demat account and trading account?

Disclaimer: There is a high degree of risk involved in stock trading. Mutual funds are also subject to market risk. The details given on this website are for informational purpose and cannot be constituted as professional advice in any regard.

What’s do you think after scrolling through the Upstox review? Feel free to add your opinions or any feedback on Upstox or any other stock broker in India. Your views and shared experiences can give a new direction to potential investors around.