An Indian low-cost brokerage company called Upstox specializes in technology and offers trading possibilities at affordable rates. The business offers trading in a variety of markets, including stocks, commodities, currencies, futures, and options, through its Upstox Pro Web and Upstox Pro Mobile trading platforms. A consortium of investors, including Kalaari Capital, Ratan Tata, and GVK Davix, support Upstox.
Trading, analysis, charting, and many other advanced trading functions are available on the Upstox trading platform. This technology makes it simple to place orders online and using mobile devices. The Omnisys NEST OMS (Order Management System) and Omnisys NEST RMS are the foundation of the Upstox trading platform (Risk Management System).
With Upstox, take advantage of increased leverage up to 20x margin on intraday, 6x margin on futures, and 4x margin on options. The fact that Mr Ratan Tata, the Kalaari Group, and GVK Davix support Upstox, which prides itself on being a technology-backed low-cost brokerage business, is another crucial aspect. One of the top bargain brokers in India, particularly for traders, is Upstox. It provides some of the most robust and dependable trading systems available. Since the majority of its trading platforms were created in-house, Upstox review has a definite advantage over its rivals.
How to Open a Demat Account with Upstox?
Having a Demat account is necessary for the online trading of assets like shares and mutual funds. To open your Demat account, Upstox only needs your Aadhaar Card and PAN Card information. Even you can finish the procedure in a short amount of time. The online and offline processes for opening a Demat account with Upstox are both covered in the sections that follow.
Upstox Online Demat Account Opening Process
It is quite simple to open Demat account with Upstox. Here is how to establish a Demat account with Upstox in detail.
The steps to open an online Upstox Demat account are:
- A form will now display on the right side of your screen. Name, phone number, and email address must be filled out and submitted.
- Later, you will be asked to upload your papers online using soft copies of your Aadhaar card, address proof, age proof, PAN card, and photo.
- Send your Aadhaar information, and make sure the provided cellphone number is connected to your Aadhaar Card to be verified by OTP.
- Your PAN number should be required for validation on the next screen.
- When you enter your Aadhaar (UID) number, Upstox will validate all the remaining data for you, including your complete name, address, age, and gender. All other fields will also be prefilled.
- After completing the registration process, the company will give you your account number, login information, and password. You can now begin trading using your demat account.
Upstox Offline Demat Account Opening Process
Fill in all the essential information on the demat account opening form after downloading and printing it.
- Send the account opening paperwork and supporting documentation to your broker. If the KYC form hasn’t been updated, your broker could request one. One of the most crucial things you must provide is confirmation of identification and proof of address.
- You will be prompted to list a nominee on the account opening form as well. If something unfortunate were to happen to you, your account and its assets would be managed by a nominee.
- The Depository Participant-Investor agreement is another document you’ll come across, and it contains information like the fees you’ll pay for holding the dematerialized account, the terms and conditions, the rules and regulations, as well as the responsibilities of the broker and your rights as an investor.
Your information may be verified in person to ensure that it is accurate and legitimate.
- Your Beneficiary Owner Identity (BOID) or Unique Client Code (UCC), a special account number that will be used in all subsequent transactions you make, will be given to you once the formalities are finished.
Upstox Trading Platforms
Some of the most technologically advanced trading platforms are available through Upstox. The majority of Upstox’s trading platforms are internal and supported by top-notch features; we have listed all features for each platform in this Upstox review.
One of the greatest trading platforms is offered by discount brokerage Upstox in both online and mobile app formats. The Upstox Pro platform was created using the RMS and OMS from Omnesys Nest (Risk Management System).
Upstox Pro Web
Any browser may simply access the online-based trading platform Upstox Pro web. Users may use Upstox Pro online by opening a browser from any location and visiting a specified URL to get started trading. Mobile devices or tabs can also be used to view this application. Some of Upstox Pro Web’s best attributes are listed below:
- a portable program that may be used on any browser or device
- Very helpful charts that allow users to assess market and stock movements include more than 100 indicators and charts.
- Ordering from the ordering window is rather easy because it is presented on the displays.
- Workspaces, for example, may be customized based on user preferences.
- We provide keyboard shortcuts for speedy order entry.
Upstox Mobile App Review – Upstox Pro
One of the most sophisticated mobile stock trading applications is Upstox.
Using just your phone, you can place orders across the equity, F&O, commodity, and currency segments with the all-in-one Upstox Pro app. All Upstox clients can use the Upstox app for mobile trading for free. The most alluring features that have helped it become the best mobile trading app in India are real-time technical charting, multiple-chart view, 100+ charts, and 250+ technical indicators with ChartIQ, 10+ years of historical data, multiple customizable watchlists, watchlist widget, price alerts, and instant UPI-based fund transfer. On iOS and Android devices, the user-friendly Upstox App can be downloaded from the Play Store and the App Store.
The mobile app
- Prices from the NSE F&O, NSE Cash, BSE Cash, NSE Currency, and BSE Currency are streamed live, together with line charts, candlesticks, charting indicators, and drawing tools, to let users easily grasp the data and act swiftly.
- Using his demo user id and password, one may use the Upstox mobile app. Contact the customer service department to obtain the login information.
- Cover orders and bracket orders, which are more expensive order types
- The software allows for quick money transfers to over 40 banks.
- Concerns with the Upstox smartphone app include:
- Connectivity issues have been reported in lower-tier cities or among users of slow internet.
- Having trouble loading charts while using the Upstox mobile to do a technical or fundamental analysis
2.Upstox Pro Web
Pro Web is an HTML trading platform for Upstox that works with any web browser, including Chrome, Safari, Internet Explorer, etc. Users of mobile devices, desktop computers, and laptops can easily access features like unlimited watchlists, one-click trading, TradingView and ChartIQ charting libraries, powerful charting, 100+ technical indicators, bracket orders, cover orders, and the ability to download trade reports, fund transfer reports, etc. by logging in to their Upstox accounts on the Pro web platform.
3.Upstox API
Customers may use Python and Node JS to create their own front-end trading platform thanks to Upstox’s developer API. While its Historical API provides access to OHLC (Open, High, Low, and Close) data for various time intervals from 1 min to 1 month, the Interactive API provides access to real-time updates, order placement, positions, holdings, etc. It should be noted that Upstox API is only accessible to closed-group users and is not offered to new clients.
- Upstox Interactive API charges; Rs. 750 per month
- Upstox Historical API charges; Rs. 500 per month
Upstox Trading Brokerages
- Plan 1 – Upstox (Upstox Basic)
- Equity Delivery-Based Trades: ₹0 (no limit on the number of trades)
- Plan 2 – Upstox Pro
- Equity Delivery Based Trades: ₹0 (Free Unlimited Equity Delivery Trades)
- Equity Intraday Trades: 0.01% or ₹20 per executed order (Whichever is lower)
- Equity Future: 0.01% or ₹20 per executed order (Whichever is lower)
- Equity Options: ₹20 per executed order (on Turnover)
- Currency Futures: 0.01% or ₹20 per executed order (Whichever is lower)
- Currency Options: ₹20 per executed order
- Commodity Futures: 0.01% or ₹20 per executed order (Whichever is lower)
Upstox Priority Pack – Upstox Best Plan
Priority Pack, a new category created for intraday traders aiming for more leverage, has been added to Upstox. Trading on Equities, F&O, and CDS is enabled for just Rs. 999 per month. Additionally, they have access to commodities for Rs. 499 per month.
- Using CO/OCO/BO, 2X intraday leverage on option purchases
- Utilize CO/OCO/BO to obtain up to 7X leverage on index futures.
- You can leverage up to 6X with no exposure margin required for index futures and options.
- Intraday cash leverage of 20X
Advantages of Upstox –
The benefits of Upstox are as follows. Before making an account with Upstox, you must study the pros and downsides of the service. The pros and drawbacks of Upstox can help you decide if it will meet your demands for investments.
- Demat account maintenance fees are Rs 0.
- Flat Rs 20 per trade brokerage for all trading segments at BSE, NSE, and MCX, including delivery, intraday, and F&O.
- Available for both Android and iOS smartphones is a mobile trading app. No program makes use of fees.
- Both web and mobile versions of After Market Order (AMO) and Cover Order are available.
- Web and mobile versions of Trailing-Stop/Stop-Loss (SL) are both available.
- It is possible to place Good-Till-Triggered (GTT) orders for commodities and equity.
- Upstox Pro Web Trading Platform offers multiple indicators to monitor markets on the go.
- Upstox Bridge for AmiBroker helps you to code & execute your trading strategy using the AmiBroker AFL editor.
- Upstox Developer Console helps you build (code) your trading app using languages such as Python.
- Upstox Option Chain Tool helps traders find out Spot, Future prices, vertical comparison of rates, and get details such as circuit levels, Open High Low Close and market depth. It allows customers to measure volatility, open Interest, and performance indicator and check greeks as well.
- Upstox MF Platform offers thousands of Mutual Funds to invest in. Customers can choose the Lumpsum or SIP pattern of investing.
- Margin Against Shares is available.
- Online IPO Application (UPI) is available.
- Margin Trading Facility (MTF) is available at an interest rate of Rs 20/day for slabs of Rs 40,000.
Disadvantages of Upstox
The following are the cons of Upstox. Check the list of Upstox drawbacks.
- Per the deal, equity delivery brokerage costs Rs 20. The majority of other brokers provide brokerage-free stock market investments.
- Delivery transactions are not eligible for margin funding.
- Upstox doesn’t provide monthly trading plans that are limitless.
- An additional Rs. 20 (Rs. 20 for brokerage plus Rs. 20 for call and trade fee) is payable for each executed order.
- If the customer does not square off their intraday MIS/BO/CO orders, an additional Rs 20 per completed transaction is levied.
- doesn’t offer stock recommendations or ideas.
- Due to the lack of financial services offered by the firm, 3-in-1 accounts are not offered.
- There isn’t a 24/7 customer service line.
- There is no longer a Upstox NRI Trading and Demat account available.
- The API is not accessible through Upstox for automated trading.
Conclusion
Upstox is unquestionably an excellent trading platform for high-frequency traders and long-term investors. There are several factors, including competitive brokerage plans and excellent client services that make it a customer choice. Upstox discount broker is regarded as India’s second-most well-liked discount broker, behind Zerodha. Upstox is an excellent trading option with more than 1 lakh active clients and a daily turnover of 15,000 Crores.