|Why Open Account with Upstox?||Advantages of Upstox|
|1||Delivery based trades are FREE!|
|2||Flat Rs20/trade across all other segments like intraday, Future, Options and Currency|
|3||Single Platform for trades across all segments and exchanges|
|4||Add on tools like Brokerage Calculator, Span margin Calculator|
|5||Branches at Mumbai, Delhi, Pune and Ahmedabad|
|Disadvantages of Upstox|
|1||No Tips and recommendations are Provided|
|2||No Algo trading support is provided|
|3||Margin against Shares is not provided yet|
Upstox (RKSV) Reviews – 2018
Upstox was formerly known as RKSV securities and I have an account with them.
RKSV like Zerodha is one of the first few discount brokers who started their operations in India.
Upstox was founded by Raghu Kumar, Ravi Kumar and Shriniwas Vishwanath. Hence they named the company with first letter of their name as RKSV.
Since January 2012, they have grown considerably and they are the most popular discount broker in India after Zerodha. Presently they are doing a daily turnover of Rs7000.
What is to be noted is, Upstox is backed by most prominent investors like Mr Ratan Tata, Kalari Group and GVK Davix.
They have invested substantial amount in developing inhouse trading platform which I am explaining below.
Upstox Brokerage Charges
Upstox brokerage structure is pretty straight forward. They charge Rs20 per executed order for all the non-delivery based transaction.
For all investments (Delivery trades), the brokerage charges are ZERO.
It is on par with Zerodha who also provide the same brokerage structure.
Upstox Trading Brokerage Charges:
- Equity delivery based trades : Rs Zero (FREE)
- Equity Intraday trades : Rs 20 per executed order
- Equity Future : Rs 20 per executed order
- Equity Options : Rs 20 per executed order
- Currency Futures and Options: Rs 20 per executed order
- Commodity Futures : Rs 20 per executed order
Upstox Account Opening :
- Trading account opening charges (One Time) : Rs 150 for equity, currency and F&O and Rs 150 separate for commodities
- Demat Account opening charges (One Time) : Rs 150
- Trading Annual Maintenance Charges : NIL
- Demat Annual Maintenance Charges (AMC) : Nil for first year and Rs 150 from second year onwards
Upstox other charges:
- Standard NSE Charges, Transaction charges and taxes are levied
- Rs 20 is charged for call and trade (per call)
- Rs 7 is charged per fund transfer
Upstox Trading Mobile, Desktop and Web Trading Platforms
Upstox Pro Mobile App:
Some of the salient features are
- Availability of 100+ technical indicators that can be used on live chart
- Unlimited watchlists
- Set unlimited price alerts for your trades
Upstox Pro Web:
Useful for traders who dont want to install any software and apps.
It can be accessed anywhere through web browser. Some of the salient features of Upstox PRO Web platform are
- Advanced charting with more than 100+ indicators
- Minimalist interface with access from different browsers
Upstox Desktop Platform:
This for the users who wants quick access to the markets like intraday traders.
This application is from third party called Omnesys NEST.
Upstox Margin/Exposure and Intraday Leverage Details
- Upstox Margin for NSE and BSE Cash Segment:
- 20x Margin for stocks listed in F&O
- Upto 2x margin for stocks with 20% circuit breaker for all intraday (MIS) orders
- Margin for equity Futures :
- 6X leverage for CO(Cover order) and BO (Bracket Order)
- 4Xleverage for MIS orders
- Leverage for Equity Options buying:
- 1.3X leverage for CO(Cover order) and BO (Bracket Order)
- No leverage for MIS orders
- Leverage for Equity Options Selling :
- 4X leverage for all orders
- Exposure for Currency Futures : Upto 4X leverage for MIS/CO and BO Orders
- Upstox Margin for Commodity Futures:
- Upto 3Xmargin for Non-Agri commodities with CO orders and 2.5X in MIS orders
Upstox also offers a unique schemes for the customers who are interested in getting more leverages called Priority Pack.
In Priority Pack , you need to pay monthly charges of Rs 999 for Equity, F&O and Currency and Rs 499/month for Commodities.
With Priority pack, you will get margin upto 25X in cash Segment and upto 4 times in MCX futures.
RKSV Membership Information :
- RKSV NSE Membership:
- Capital Market (CM) – INB231394231
- Future & Options (F&O) – INF231394231
- Currency Derivatives (CDS) – INE231394231
- RKSV BSE Membership:
- Capital Market (CM) – INB011394237
- Future & Options (F&O) – INF011394237
- RKSV MCX Membership:
- Member Code – 46510
- FMC Regn. No. – MCX: MCX/TM/CORP/2034
- CDSL: IN-DP-CDSL-00283831
- NSDL: IN-DP-NSDL-11497282
Upstox has earned good reputation for themselves in Indian discount brokerage industry. However their customer base has not grown as big as Zerodha’s though both started at almost same time.
However lately, there is big improvement at their end with importance to technical platforms , customer service and ratings. Traders looking for alternative to Zerodha can open thier account with Upstox.