Upstox 2020 Review
Upstox Review: Upstox (earlier known as RKSV Securities) is a
discount broker, good for traders who look for low brokerages, high margins,
and decent trading platforms.
Uptosx (RKSV) is best for you if you want to save your money on
brokerage. Upstox charge fix brokerage of only Rs. 20 per trade irrespective of
the trading volume.
Is Upstox Good
& Safe
Uptstox (RKSV) is funded by Ratan Tata, Kalaari Capital and
GVK Davix which makes upstox a safe and reliable stockbroker for your
investment.
Upstox is one of the best
discount brokers in India, especially for the traders. One side the Upstox
provides the fastest trading platforms which are the main need to book the high
profits in day trading.
On the other side, you only need to
pay flat Rs 20 per trade irrespective of your trade volume.
Save upto 90% on brokerage charges
with upstox
You can save huge money on your
brokerage as compared to the other service providers
Let’s assume you do minimum monthly
trading of 10,00,000 rupees with 10 trades (20 if we include buying &
selling side)
Comparison of Upstox trading
brokerage with ICICI Securities that charges 0.275% (0.55% if we include both
buying and selling)
10,00,000 * 12 months * 0.55% = Rs.
66,000
Comparison of Upstox trading
brokerage with Sharekhan that charges 0.10 % (0.2% total on buying and selling)
10,00,000 * 12 months * 0.2% = Rs.
24,000
Trading Brokerage with Upstox that
Charges Rs. 20 per Trade
20 trades per month * 12 months * 20
Rs. brokerage = Rs. 4,800 only. (Saving of upto 90% on brokerage)
Upstox is a member of BSE, NSE, MCX
and MCX-SX and allows you to trade in:
·
Equity
·
Futures
·
Options
·
Currency
·
Commodity
What I liked about Upstox is their
high tech and advanced trading platforms.
Upstox 3 in 1
Account Review
Upstox offers free 3-in-1account
(demat, trading & saving account) in collaboration with Indusind bank. The
savings account is a zero balance account and you will earn interest on the
funds allocated from your saving a/c for trade.
You will also earn up to 6X rewards
points per 200 rupees spent on all your debit card transactions. You can use
the rewards towards brokerage charges.
Benefits of
IndusStox (Upstox 3-in1 Account)
·
No
minimum balance required
·
You will earn interest on
funds allocated from your Savings a/c for trade
·
Customizable
account number (birthday or anniversary)
·
Free
demat & trading account opening
·
Zero
brokerage on delivery
·
The fixed brokerage of ₹20 per intraday trade
Upstox 3-in-1 account charges
You wouldn’t need to pay any extra
charges for Upstox 3-in-1 account. You can open free 3-in-1 account if you
apply through my special link.
Upstox Brokerage
Charges
Upstox offers 0% brokerage on stock
delivery and a flat Rs. 20 per trade.
Detailed Upstox Charges
Type
|
Brokerage
|
Equity Delivery
|
Rs. 0
|
Equity Intraday
|
Lower of Rs. 20 per executed order or 0.01%
|
Equity Futures
|
Lower of Rs. 20 per executed order or 0.01%
|
Equity Options
|
Rs. 20 per executed order
|
Currency Futures & Options
|
Lower of Rs. 20 per executed order or 0.01%
|
Commodity F&O
|
Lower of Rs. 20 per executed order or 0.01%
|
Call & trade service is also
available at Rs. 20 per order.
Special Brokerage Credit Offer
Upstox is offering prepaid brokerage
plans that would help you to save an additional up to 60% on your brokerage
charges.
You would pay for the brokerage
credit, not as an account opening fee while opening your upstox account. For
example, If you choose to pay Rs 499, then you will get a brokerage credit card
of Rs 1000.
Your brokerage charges will be paid
off from the brokerage credits.
The Rs 499 plan is better as you
would get a validity of 45 days. The offer is only for the new account opening.
If you are a heavy trader you can go
for the higher plan to save more on the brokerage charges.
Upstox Annual
Charges
Details of upstox account opening
charges & annual charges
·
Upstox Equity Demat and Trading – Rs.
300 (includes first year AMC)
·
Upstox Annual Maintenance Charges –
Rs. 150
I have get a special offer for
CashOverflow reader from Upstox. You will get Upstox account fee waiver of Rs
300 if you open through my link.
Grab the FREE Uptox Account Deal
Now
Additional Upstox
Products
1. Upstox Priority
Pack Plan Review
Upstox priority pack is specially
designed for Intraday traders who look for higher leverages. You will get
higher trading margin as compared to the basic plan.
Abbreviations Used
·
CO – Closing Offset
·
OCO – One Cancels the other Order
·
BO – Bracket Order
·
F&O – Future and Options
·
CDS – Credit Default Swap
Benefits of Upstox Priority Pack
·
2X Intraday leverage on option buy
with CO/OCO/BO
·
Up to 7X leverage on index futures
using CO/OCO/BO
·
No exposure margin levied on Index
Futures and Options giving you up to 6X leverage
·
20X Intraday leverage on cash
(normally 15X on basic plan)
You can enable priority pack at Rs.
999/month for trading in equities, F&O and CDS. For commodities, you have
to pay Rs. 499/month.
The brokerage charges for Upstox
priority pack is Rs. 30 per trade.
If you need high margins to trade on
a regular basis, then you should definitely go with priority pack.
Difference Between
Upstox Basic Vs Priority
Upstox priority plan is for
experienced traders who need higher margin as compared to Upstox basic plan.
You can open also Upstox priority
plan, but only if you required higher margin. Because the charges for priority
plan are higher as compare to upstox basic plan.
Upstox Priority Vs Basic Charges
Upstox Priority
|
Upstox Basic
|
|
Brokerage
|
Rs 30 per trade
|
Rs 20 per trade
|
Additional charges for Equity, FO and Currency
|
Rs 999/month
|
0
|
Additional charges for commodity
|
Rs 499/month
|
0
|
You will get higher margin for paying
extra charges. Let’s compare the margin for upstox basic plan and priority
plan.
Upstox Margin
(Priority vs Basic)
Margin Intraday
Segment
|
Basic
|
Priority Pack
|
NSE/BSE Cash
|
15X
|
20X
|
Index Futures
|
3X
|
4X
|
Stock Futures
|
3X
|
3X
|
Index Option Sell
|
3X
|
4X
|
Stock Option Sell
|
3X
|
3X
|
NSE Currency
|
4X
|
4X
|
MCX Future
|
2.5X
|
3X
|
Margin OC/OCO orders
Segment
|
Basic
|
Priority Pack
|
NSE/BSE Cash
|
20X
|
25X
|
Index Futures
|
3X
|
4X
|
Stock Futures
|
3X
|
3X
|
Index Option Sell
|
3X
|
4X
|
Stock Option Sell
|
4X
|
5X
|
NSE Currency
|
3X
|
4X
|
MCX Future
|
1.33X
|
2X
|
RKSV (Upstox) Demat
& Trading Account Features
#1. Low Brokerage
Charges
RKSV charges a flat Rs. 20 brokerage
charges under the “Basic” plan. The low brokerage is helpful to trade large
volumes in a cost-effective manner.
New traders who want to experiment
with stock intraday trading and are on a budget will benefit a lot from the
flat charges.
Whereas, intermediate traders with 6+
months of experience who can handle higher leverages can go with the “Priority”
plan.
You need to pay Rs. 30 under the plan
which is higher but still cheaper than the 0.50% brokerage charged by the
full-service brokers like Sharekhan, Motilal Oswal, ICICI Direct and HDFC
Securities.
#2. Decent Trading
Margins
Margins help you trade multiple times
of the money available with you. For example, if you have only Rs. 5000 in your
trading account but enjoy 10X leverage then you can open an intraday position
worth Rs. 5000 X 10x leverage = Rs. 50,000.
RKSV offers a 15x margin on intraday
equity trading under the “Basic” plan and slightly higher leverage of 20x under
the “Priority” plan.
The 15X margin is adequate for a new
trader. In a sense, he is protected from the risk of losses by entering trades
with high (50X) leverage.
#3. Low Account
Opening and Annual Charges
RKSV charges a small trading account
opening fee of Rs. 200 and Rs. 150 for opening a commodity account. You also
need to pay Rs. 100 AMC charges. The cost of opening a new account comes to Rs.
450 under the “Basic” plan.
If you opt for the “Priority” plan
then you need to pay an additional amount of Rs. 999 per month for trading in
equities, equity F&O, and currency derivatives. For commodities trading the
charges are Rs. 499 per month.
You can open free upstox account
through my special link
What I Like
·
No brokerage charges for delivery
·
Great trading platforms
·
Fix & low brokerage irrespective
of trade volume
What I Didn’t Like
·
You cannot make the investment to IPO
and FPO
#1. Upstox Pro Web
Review Review
Upstox Pro web is a browser-based
trading platform that comes with advanced features like API integration, algo
trading, charts and technical indicators.
The features help you to perform
in-depth analysis and market understanding.
Pro web uses socket technology that
allows access to real-time market data at a faster speed. You also get drag and
drop facility to drag a particular script and drop on the chart screen to see
the script in chart form instantly.
#2. Upstox NEST
Trader Desktop Review
NEST trader is an advanced trading
desktop software which helps you monitor markets, place orders and buy &
sell shares in real time.
You can install the application on a
desktop or a laptop.
Features of NEST Trader
·
Customizable interface
·
Low latency and enterprise-level
You can track your favorite scripts,
indices and monitor the markets using charting tools and more than 100
technical indicators.
You can install Upstox Pro mobile
trading platform to both Android and iOS versions.
·
stability
·
Multi-monitor support
·
Advanced Charting
#3. Upstox Pro
Mobile App Review
You can track your favorite scripts,
indices and monitor the markets using charting tools and more than 100
technical indicators.
You can install Upstox Pro mobile
trading platform to both Android and iOS versions.
How to Open the
Account with Upstox
RKSV offers you the option to open a
Demat and trading account through online or offline methods.
In the online method, you need to
have an Aadhaar Card and the linked mobile number to authenticate the
application form. In case you do not have a mobile linked Aadhaar card then you
can go for an offline account opening method.
In both cases you will need the
following set of documents.
·
PAN Card
·
Aadhaar Card
·
Specimen Signature
·
Photographs
·
Income proof (if you wish to trade in
derivatives)
#1. Sign Up on RKSV
(Upstox) Home Page
Click here to visit direct account opening page and use Client Code (UCC Id) AP7803
Click “Open Demat Account” button
opens into a new window where you need to sign up for opening an online demat
and trading account.
#2. Verify Your
Mobile With OTP and Start Application
You need to provide your email
address and mobile number. An OTP will be sent to your official mobile number
to authenticate the mobile number.
Once authenticated, you can move to the next stage of the application process and provide the PAN number along with the date of birth, as shown above, and use Referal Code AP7803 for exciting offers and free accounts.
#3. Provide Personal Details
Next, you need to provide your
personal information like marital status, yearly income and trading experience
by clicking on the given options.
The process is fast because you are
required to select one of the options provided rather than filling all the
details.
Before you proceed ahead to read the
taxpayer declaration and check on the declaration box. Click on the “Next” tab
to proceed ahead with the application process.
#4. Select Your
Trading Preferences
RKSV gives you the option to select
the segment in which you want to trade. You can go for all the segments or
either set one from the following.
·
First Set – Equity, Equity F&O
and Currency F&O
·
Second Set – Commodity Trading
If you are new to stock market
investing then you can go for the first set only.
Next, you also have the option to
choose the brokerage plans. By default, the system selects the “Priority”
brokerage plan. Which needs to be changed in case you want to go for the
“Basic” brokerage plan.
The Basic Plan with Rs. 20 brokerage
and 15x intraday margin are better suited for a new trader. Whereas, the
Priority Plan is best for experienced traders who require higher (20x)
leverage. The brokerage charges (Rs. 30 per trade) are also higher under the
Priority Plan.
#5. Provide Bank
Details
After selecting the plan, you need to
provide your bank details like account number and the IFSC code of the bank
branch.
Make sure that you are not adding a
payment bank because RKSV does not open a trading account linked with payment
banks like Paytm.
The bank details are required to link
your trading account so that you can transfer funds online to your trading
account. RKSV Securities does not share your bank account details and all
transactions are encrypted for maximum security.
#6. Authenticate
Application Using Aadhaar
Next, you will need to authenticate
the online application using the OTP received on the linked mobile
number.
In case, if you do not have an
Aadhaar Card linked to your mobile number then you can use the offline demat
application method.
#7. Upload the KYC
Documents
Finally, you will be required to
upload a copy of all the KYC documents along with the image of your signature
and photographs.
This completes your application and
the trading account will be opened in 24 to 48 hours time. RKSV will provide
you with the trading account login ID and the password.
FAQs
Ques 1 – What is Upstox?
Upstox is a discount brokerage
company in India funded by Ratan Tata, Kalaari Capital and GVK Davix. In 2016,
RKSV Securities changed to Upstox with a vission to provide an intuitive
trading software at a great price.
Ques 2- what is Upstox app?
Upstox pro is a lightweight mobile
trading app built for traders. You can do trading in stocks, derivatives,
currencies, and commodities across NSE, BSE, and MCX exchanges through Upstox
app.
Upstox app can be installed to both
Android and iOS versions.
Ques 3 – what is co and oco in
upstox?
Cover Order (CO) – A order in which a
stop loss is placed simultaneously with the original buy/sell order.
One Cancel Other (OCO)- OCO is same
as back order in which a price bracket is placed os target profit order and
stop-loss simultaneously with the original buy/sell order.
Best For (Final
Review on Upstox)
If you are looking for easy and
advance trading platforms you should go with Upstox.
You would also get low brokerage
charges and high margins which are key points for trading.
Upstox (RKSV) offers advanced, fast
and stable web, desktop and mobile trading applications loaded with 100 plus
indicators and charting tools. The trading platform is apt for intraday trading
professionals and beginners.
