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Upstox review

Compare the pros and cons below to see if Upstox is the right broker for you.

Upstox is one of India’s fastest growing discount brokers, offering a range of investment services at reduced commission rates. It offers multiple trading platforms and provides access to financial products like mutual funds and options.

In this review, we’ll explore how Upstox works, its pros and cons, as well as other information that you should note when considering an Upstox account.

Compare Upstox as an online broker

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Name Product Number of stocks CFDs Shares Available Markets Link
All NSE/BSE listed stocks
More info
CFD Service. Your capital is at risk.
Customise your portfolio and trade various asset classes, including stocks, mutual funds, commodities, futures, options, and IPOs.

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What markets can I trade with Upstox?

Like most discount brokers in India, you can only access Indian markets through Upstox. It is, therefore, better suited to traders and investors focused exclusively on investments in India.

However, do note that you can now sign up for Upstox’s early access waitlist to invest in markets outside of India. While this feature is not currently available, it is in Upstox’s product pipeline. In fact, Upstox aims to become the first Indian brokerage to allow global investments with zero commissions for over 25 countries.

Upstox accounts

As an Upstox client, you will have access to an Upstox trading account, which allows you to buy and sell different financial securities like stocks, options and mutual funds. Do note, however, that in order to hold these securities, you will also need an Upstox demat account.

Upstox trading account features

Here are some features that you can expect to enjoy with an Upstox trading account.

  • A range of financial products.
    • Equities: You can access stocks on the National Stock Exchange of India (NSE) and BSE (formerly known as Bombay Stock Exchange) — either through equity delivery where you can buy and hold the stock for as long as you need or through equity intraday where the stock is sold before the end of the trading day. If you wish to increase your leverage, you can also trade equity futures and options on the same exchanges.
    • Forex: You can trade futures and options on currencies with Upstox.
    • Commodities: Gain exposure to commodities through trading futures and options on the Multi Commodity Exchange of India (MCX).
    • Mutual Funds: Upstox offers more than 2,000 funds for you to choose from.
  • Multiple trading platforms to choose from.
    • 3rd party trading platforms. If you sign up for an Upstox account, you can access the Dartstock, NEST Trader and Fox Trader platforms which are used by plenty of traders in India.
    • Upstox Pro Mobile. The Upstox mobile app is available on both Android and iOS.You can use it to access charting software, get price alerts and place orders — all with the added convenience of trading on-the-go.
    • Upstox Pro Web. This fully-fledged desktop platform comes with customisable widgets and adjustable workspace interfaces
    • Upstox Call & Trade. This service allows investors to place orders via a phone call. Once you’ve placed a call, you can customise the order as many times as you want within a day before the order is fulfilled.
    • AmiBroker AFL & AlgoLab. If you’re more of a strategy trader, you might want to trade equities, futures and options using technical strategies without placing a manual order on the Upstox platform. To facilitate that, Upstox has launched Upstox AmiBroker Bridge, which allows you to program and execute your trading strategy through the AmiBroker AFL editor.
  • Tools & Research: You can get access to additional services such as mutual fund screeners, margin calculators and option strategy builders.
  • Alerts: Set alerts to be notified of stock movements, news, company announcements and board meetings. You can also set notifications for specific trading activity and order confirmations.
  • Customer support: Upstox offers live chat functionality alongside telephone and email support.

What are Upstox’s fees?

Trading fees are fees associated with buying and selling financial products. These fees often include commissions, spreads, and currency conversion fees. Here is a short summary of some important fees you should take note of.

  • Brokerage fee. Upstox charges ₹0 brokerage for equity delivery trades. For all types of futures, contracts and intraday equity trading, you’ll have to pay ₹20 per executed order or 0.05% (whichever is lower). For options, expect a flat fee of ₹20 per executed order instead.
  • STT/CTT charge. These additional transaction taxes range from 0% to 0.2% of your order amount, depending on the specific product you’re trading.
  • Transaction charge. From clearing fees to exchange turnover costs, these charges could amount to 0.003% of your order.
  • GST charge. An 18% tax on your total charges will be levied.
  • SEBI charge. An additional fee of ₹15 per crore of traded amount.
  • Demat account maintenance fee: ₹25 (excluding GST) per month.

Please note that the fees above are not exhaustive, and will differ depending on how you use your broker account. You can refer to Upstox’s website for a detailed list of fees and use their brokerage calculator to estimate exactly how much you might end up paying.

Pros and cons


  • Free equity delivery trading
  • Access to a large number of trading platforms
  • Offers a mobile trading app with features comparable to that of a desktop trading platform


  • Limited resources provided for market tips and investment ideas
  • No access to cryptocurrency or IPOs

Is Upstox safe?

Upstox is a SEBI-registered broker. It is also funded by Ratan Tata, Kalaari Capital and GVK Davix. These are reputable names in Indian banking, and thus, Upstox is generally considered safe due to the stability associated with its partner companies.

Note: Investing and trading itself always carries risks which you should be aware of, so read up before you start investing. Do your research and compare brokers in India before signing up with any trading platform.

How do I sign up for an account?

You can sign up with an Upstox account easily online. Visit Upstox’s website and follow the steps below.

  • Fill up Upstox’s online registration form. The details required may include your name, mobile number and email address.
  • You will be prompted to submit supporting documents. This may include your Aadhaar card number, proof of income, photograph and PAN number.

Bottom line

Upstox offers a range of useful features with its trading account, including multiple trading platforms, a variety of financial products for trading and easy access to customer service. While it provides these features at a lower cost than most brokers in the market, do note that Upstox does not offer access to international markets. As such, Upstox is better suited for investors looking for low-cost trading opportunities exclusively in India.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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