Is Upstox Safe? My Honest Review on Upstox Trading Platform

upstox
Is Upstox Safe

When you search for a superb online platform for trading stocks- or what’s commonly known as a Demat and Trading account- users in India are spoiled for choice. There’re countless such online trading platforms available.

And one among these platforms is Upstox.

There’re lots of questions about whether is Upstox safe or not? and its charges, among other issues. Therefore, in this article, I will present my honest review about Upstox as a trading platform for stocks, commodities and currencies and other financial instruments.

Let’s begin by looking at the ownership of Upstox. This could help you decide whether Upstox is safe or not.

Ownership of Upstox

Upstox is funded by renowned Indian industrialists, Ratan Tata, Tiger Global, Kalaari Capital and GVK Davix. These are some of the topmost names in the banking and finance industry. Therefore, Upstox’s ownership is very reliable.

Upstox was founded in 2010 by a company known as RKSV Securities India Pvt. Ltd. In those days, the platform was known by the company’s name, RKSV. Later, it was re-branded as Upstox in 2012.

Upstox has been around for over a decade and continues to grow. In fact, it’s also billed as the fastest growing stockbroking platform in India and has close to four million users. Unofficial figures claim that Upstox has over a million users.

Upstox Plans

Upstox offers two distinct plans for stock market investors and traders. Both these plans are superb and you could select any of these according to your needs.

Upstox Basic Plan 

Upstox Basic Plan is made for laypersons or those who wish to make some money from stock trading daily. 

It offers the following advantages:

  • Up to 15 times the margin on cash segment for Intraday trading.
  • Discount brokerage charges of Rs.20 per trade or 0.05 percent of the traded value, whichever is lower.
  • Free deliveries of stocks, Exchange Traded Funds and other financial instruments.

Upstox Priority Plan Review

Upstox priority plan is specially designed for intraday traders who look for higher margins in intraday trading. You will get a higher margin as compared to the Upstox basic plan.

  • Up to 20 times margin on cash for Intraday trading.
  • Brokerage charges of Rs.30 per trade or 0.10 percent, whichever is lower
  • Free deliveries of stocks, Exchange Traded Funds and other financial instruments.

The below table indicates the differences between the Upstox Basic Plan and Upstox Priority Plan.

upstox plans

Signing Up for Upstox

Signing up for Upstox is very simple. Their homepage has the sign-up feature. When you wish to sign up, simply fill up your email ID and phone number. Upstox will send you an OTP.

Once you submit the OTP, the Upstox website will ask you for your Permanent Account Number.

Upstox Sign Up

Once you complete the process by giving your PAN and Aadhar card numbers, you’ll have to fill in personal details.

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Upon successfully submitting your personal details, you’ll be led to a page where you’ve to indicate whether you pay taxes in India. And sign a taxpayer’s declaration.

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Upon submitting these details, you’ll receive a message congratulating you for opening a Demat and Trading Account with Upstox.

Free Stock for Newcomers

Once you complete the above procedures, the website will now ask you to accept all terms and conditions and offer you a free stock.

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The next step is to sign the application form digitally. That means, you can use the mouse and create a signature on the blank screen panel.

Digital Signature in Uptox

The next step is to give your Aadhar card through your Digilocker. This means, you’ve to submit the Aadhar card number. You’ll get an OTP to register your Digilocker from where Upstox can gain access to all your information and government-issued IDs.

After that, your account is ready to use.

You can start investing in stocks, ETFs, debentures, bonds, commodities and currencies with Upstox.

Schedule of Charges on Upstox

The below chart indicates the summary of charges on Upstox.

Upstox Charges

Upstox 3-in-1 Account

Additionally, Upstox also enables you to open a 3-in-1 account. This means, you can have a Savings Bank, Demat and Trading account, all rolled in one. 

Upstox issues this kind of an account in collaboration with IndusInd Bank.

You don’t need to keep any minimum balance in your Savings Bank to open this kind of 3-in-1 account.

Reviews of Upstox Apps and Platforms

Here’s a review of Upstox apps and platforms. These indicate that Upstox is indeed a superb platform.

Upstox Pro Web 

Upstox Pro Web is a browser-based trading platform. 

  • Its features include API integration, algo trading, charts and technical indicators.
  • These features enable you to perform in-depth analysis and get to know where the market is heading.
  • Pro web uses socket technology. This means you get real-time market data instantly.
  • The drag and drop facility is superb. You can drag a particular stock and drop it on the chart to view its performance.

Upstox NEST Trader Desktop Review

NEST trader is an advanced trading desktop software. You can monitor markets, place orders and buy and sell stocks and ETFs instantly, in real-time.

You can install the app on a computer.

NEST Trader features include:

  • Customizable interface
  • Low latency and enterprise-level
  • Tracking your favourite scripts, indices and monitor the markets. The chart tools allow accessing more than 100 indicators. 
  • Advanced Charting

Upstox Pro Mobile App Review

  • Track favourite scripts, indices.
  •  Monitor the markets using charting tools.
  • Place trades or buy directly.

My Personal Experience

From my personal experience, here’ what I can safely say about Upstox.

  • Ease of use

Upstox provides a very simple user interface, that makes it easy to use and understand.

You can easily trade and monitor any favourite stock without much hassle. you will do a smooth ride on upstox for sure. 

  1. Pros & Cons
ProsCons
Attractive broker charges (20 Rs per trade) Doesn't provide tips and ideas for stocks
Easy to use PlatformNo free Demat Account
Trusted Platform Backed by Sir, Ratan TataLimited features compared to other brokers
No Paperwork- 100% Online Account opening
  1. Best Features
  • Upstox provide decent Trading Margines with the various plan which is good for beginners.
  • Uptox is popular for its low Demat Account opening and annual charges.
  • Various platforms offer by upstox for investing and trading.
  • Upstox Constantly updating the platform for a better experience.

In Conclusion

The above review and features clearly indicate that Upstox is a reliable and safe Demat and Trading account to hold. In fact, it’s one of the fastest too, since the company uses the latest technology. 

Since it has the backing of some of the biggest names in finance and industry, you can be assured that your investments are safe with Upstox.

In my personal opinion: You can go for Upstox safely to make money from stock markets.

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