Review Of Upstox

Upstox Review


Upstox formerly RKSV Securities is India’s second largest discount broker with over 13,000 active clients.  Started in 2012 this discount broker is funded by marquee names such as Ratan Tata, Kalaari Capital, and others. It currently contributes to over Rs. 7,000 crores in daily turnover on NSE.

This is an in-depth review of Upstox and its trading platforms. Click Here for the Upstox profile.


Upstox follows has a simple pricing structure. It offers free equity delivery trades and charges a maximum for Rs.20 for equity intraday, F&O, and commodities. Upstox offers a brokerage calculator which makes it easier to calculate the charges.

Pricing Verdict: Upstox much like its bigger peers offers a good deal. Free equity trading will be a good draw for beginners.

Upstox is best suited for:

  • Beginners
  • Frequent traders
  • Mobile users


For equity intraday, Upstox provides margins up to 20x on F&O stocks and up to 2x on other stocks.

It provides margins up to 6X for Intraday futures. It provides up to 4x for selling options and 1X for buying using MIS, bracket and cover orders in intraday.

It provides margins of up to 3X for all commodities.

Upstox provides margins across segments only for intraday and does not provide leverage for equity delivery and overnight positions similar to other discount brokers. There is no indication yet if Upstox will come out with margin funding, but this is the margin policy at present.

Upstox provides a margin calculator to make it easy for traders to calculate their margin requirements.

Trading platforms

Upstox provides trading platforms for desktop, web, and mobile.

Upstox Pro Web

Upstox Pro is a web trading platform which was custom developed in-house. It is a lightweight platform with unique widgetized workspaces and advanced charting.

With their latest update, Upstox has introduced workspaces which can customize to users linking with widgets. Sections such a watchlist, charts, books have been made into widgets, which can be placed anywhere in the workspace.

The charting is a breeze in Upstox Pro. There are over 100+ technical indicators and 10 drawing tools. One good feature if you are a regular trader is that you can watch multiple charts side by side.

 Since watching charts in a different workspace and switching to another workspace to place an order is not optimal they will soon be launching a feature to place orders from charts.

Our verdict

Upstox Pro is a beautifully designed web platform; largely unimposing for beginners and resourceful for regular traders. It might take a bit of getting used to for beginners, it is not as easy as Zerodha Kite, the most significant competition for Upstox. One potential downside to this widgetized workspace style is that the experience on small screens won’t be the best.


The mobile application follows a similar design scheme as the web version.

But there were some quirky things we noticed in the mobile app. Historical charts are available only in the landscape mode and not In the portrait mode. Constantly switching between two views can ruin the user experience here. Charting is easy and fast on the app and its easy see the amount of work put in by the developers.

Bracket order or OCO (One Cancel The Other) is not available. This can be a deal breaker for people who trade on the go.  If you are a mobile user then you will love the app minus the quirks. It also has a tab which shows corporate actions related to the stock and a fundamental tab data with some basic parameters. Apart from these kinks, the mobile app is a decent platform from Upstox compared to clunky, cluttered and outdated apps of other brokers.



Upstox offers NEST desktop tool. NEST can best be described as a reliable workhorse which gets the job done. NEST just provides basic charting, you get 22 days of intraday charts and 1 year of historic charts. On this count, it is a disappointment.

Platforms verdict: While the web and mobile platforms are beautifully designed the desktop tool is a bit of a letdown for hardcore traders.

Mutual Funds

Upstox recently launched its own MF platform, but disappointingly it is a regular Mutual Funds platform. In the long-run direct mutual funds always give higher returns because of the absence of any intermediaries and the ensuing savings because of that.

Where Upstox falls short

A underwhelming desktop offering is a negative for a brokerage that has built such amazing web platforms.

Upstox still offers regular mutual funds and not direct mutual funds. By investing in regular mutual funds investors pay up to 1.5% upfront and 1% every year for as long as they remain invested which in the long run makes a huge difference.


Upstox is a solid choice with its great suite of platforms and tools. If you are a first-time trader you will most likely be drawn to the beautiful platforms at zero brokerage. Although the web platform is well crafted it takes a bit of getting used to and does not look the best on smaller screens. Overall it doesn’t matter if you are a beginner or an experienced trader if you are looking for a broker Upstox should be in your shortlist.


  • Great pricing
  • Well crafted platforms
  • Tools such a margin and brokerage calculator
  • Responsive support and learning resources
  • Easy to get started with Aadhar based signup.


  • No mutual fund platform yet
  • Turnover charges on futures and options is higher than competitors
  • The online trading platform doesn’t suit small screens.

Here is a comparison of India’s 3 biggest discount brokers. Compare pricing, active clients, financials and more.

Upstox Vs SAMCO Vs Zerodha


Samco – Indian Trading League – Review

Fellow Traders and Investors,

All these advertisements by Kapil Dev for Indian trading league spawned my curiosity. I gave them a call which ended at Samco securities, the execution broker for Indian trading league. That is when I realized that this entire initiative is by Samco and Kapil Dev has invested into Samco.

We have already added Samco on our list of 70+ brokers where you can see everything from financials to hidden charges to everything else. Click on this link to check the review about Samco.

Samco seems to have been inspired by Zerodha, not just in terms of their pricing model, but also the Indian trading league being an extension of the Zerodha’s 60 day challenge. They have also gone one step ahead seemingly infringing the copyright violations by copy pasting a few of the pages from Zerodha whose website has been live for the last 4 + years. A couple of examples are given below:


Note that even the savings number shown by default matches Zerodha



My verdict on Samco, and should you start a relationship with them? 

1. Samco is erstwhile Samruddhi Securities, and this is their rebranded initiative. The financials of the company even after being in business for a very long time is quite ordinary. If you visit the link on comparebrokerages for Samco, you will see that profits are less than Rs 10lks/year for the last 3 years. The entire balance sheet size for last year (equity and commodity business together) is only around Rs 15 crores, which is the least among all the discount brokers out there. So the question arises if all these prizes – especially Rs 1 crore for the winning trader is actually for real, or just a marketing gimmick to get leads. Yes, they have a new investor in the business, but the question still arises on why would someone invest in a business like this which has quite a bad track record.

2. When this news article was released by ET on May 6th, the website by mistake was open for public for a few minutes. I guess they realized the folly and shut it down within 5 mins. I was one of the lucky few to have checked out what it was all about even before the launch. They were running a marketing blitz under #eknayileague to give away Rs 1lk to whoever could guess what it was all about. Since I knew what it was, entered into the contest just to see if I am able to win anything( atleast meet Kapil Dev if not for the cash prize). My submission was not even acknowledged forget any prize, the only thing I got from them were spam emails  asking me to open an account with Samco the last two days.

Considering that there are not many reviews available on the trading platform and considering that they seem to be blowing this prize money out of proportion, I think it is best to avoid. Smells a little like the “Hometrade scam” back in 2002 when cricketers and actors started advertising for Hometrade which eventually collapsed and caused losses of over Rs 600 crores to the investors. 

If you are looking at discount brokers, I’d advise you to choose between Zerodha or RKSV

Empowering Indian retail investors/traders,