Upstox (earlier known as RKSV Securities) is a discount broker, good for traders who look for low brokerages, high margins, and decent trading platforms.
Upstox 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
No Doubt, Uptstox is one of the best discount brokers in India, especially for the traders. It is completely safe reliable to start your investment & trading.
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.
You can save huge money on your brokerage as compared to the other service providers.
Upstox is a member of BSE, NSE, MCX and MCX-SX and allows you to trade in:
What I liked about Upstox is their high tech and advanced trading platforms.
My Experience with Account Opening Process
The account opening process of Upstox is very fast when compared to other discount brokers. The whole account opening process is online.
You can quickly open Upstox Demat and Trading account with the help of Aadhaar Card and PAN Card.
You just have to keep following documents handy to fast track your application.
· Aadhaar Card
· PAN Card
· Cancelled Cheque
· Address proof (other than Aadhar)
· Latest Bank Statement with IFSC/MICR Code. (Cancelled cheque recommended)
· Specimen Signature
(For any help or query feel free to call on 8737012345 / 7776012345)
You can start trading immediately without signing any documents. Upstox may take up to 48 hours to generate your trading login password (post completion of the application), but I got my password the very next day.
You only need to Sign PoA (Power of Attorney) document and courier to Upstox if you want to sell and transfer Mutual Funds & Shares through them.
Zerodha vs Upstox and will make comparison between these two.
Demat and Trading Account: Rs 200 & Commodity Account: Rs 100) Whereas, in Upstox the account opening chrages is Nil.
Annual Maintenance charges in Zerodha is Rs.300/- (excluding 18% GST ) Whereas AMC (Annual Maintenance Charges) in Upstox is Rs.150/- (excluding 18% GST)
Equity Delivery Charges are Nil in both Zerodha & Upstox
(For better knowledge watch this video)
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.