Today our topic is Upstox Review. Upstox is one of the best discount brokers in India. It is good for traders providing low brokerages, high margins, and decent trading platforms. Funded by Mr. Ratan Tata, Kalaari Capital and GVK Davix make Upstox a safe and reliable stockbroker for investment. The company offers trading on different segments such as equities, commodities, currency, futures, options via its Upstox Pro Web and Upstox Pro Mobile trading platforms.
So, Let’s discuss the application, the features it offers, the benefits you can get while trading.
Contents Summary
Why Upstox
1. Highly advanced charting software equipped with dependability and speed.
2.The web application is supported by top investors.
3. It is a consistent stock trading software that allows traders to trade on both web and mobile with the same account.
Platforms
Upstox Pro App
Upstox Pro App is the best and most efficient in form of a mobile app as per the user reviews and feedbacks. you can track the scripts marked as favorites, monitor the market by making use of the charting tools and several technical indicators. The App is available on both Android and IOS devices.
Upstox Pro Web
It is a browser-based platform that has many sophisticated features like Algo trading, technical indicators, charts, and API integration. These features are actually very supportive and handy when comes to understand and analyze the market accurately. The platform provides real-time market data and also comes with a drag and drop feature to drag the scrip in the chart screen to see in the form of a chart.
Upstox Nest Trader
The Nest Trader is an advanced trading desktop software to place orders accordingly, focus on the market, buy and sell the shares in real-time. It also has features like a customizable interface, multi-monitor support, low latency, enterprise-level stability, and advanced charting making it really unique.
Features
1. Demat account opening service
2. Trading account opening service
3. Intraday services
4. IPO services
5. Advisory
6. Upstox uses socket technology, which allows accessing real-time market data faster.
7. Allow users to perform technical analysis easily with the help of many indicators in charting tools. Candlestick chart can be set from 1 minute to 1-month duration and also orders can be placed directly from the chart.
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8. Drag and Drop facility provides users to drag scrip on chart screen to get the scrip view in chart form.
9. Customizable themes, layouts, and alerts as per user preferences.
10. Keyboard shortcut availability to access different features to save time.
11. Users can get the stock history of the last 10 years for analysis.
Advantages
1. The demo is easy to understand, and it will teach you how to trade without losing a dime.
2. It offers the option to trade across the available exchanges.
3. Super fast and powerful, making it one of the outstanding stock trading software in India. You will get fast and precise market data with both Upstox Pro Mobile and Upstox Pro Web.
4. Handy yet helpful features and easy-to-operate user interface.
5. Helps to create own trading strategies, making use of guides, documents, libraries, and their API.
6. Easy login to study market without really opening an account.
7. The broker responds quickly to all kinds of trading complaints and queries submitted by the customers or investors.
8. Users can place After Market Orders (AMO) between 4a.m – 9a.m and 6:30p.m – 12a.m. The order gets executed in next trading session 9:15a.m sharp.
9. Software updates every 2-3 weeks.
10. In the web platform, users can shuffle across different widgets.
Disadvantages
1. Upstox has relatively limited features and doesn’t allow to invest in Mutual Funds.
How to open a Demat account with Upstox
Your preference for a broker might rely on various factors like brokerage charges, trading platforms, customer service, and user interface. Upstox offers a very fast hassle-free account opening process completely online.
1. After opening the App, register yourself with some basic data.
2. Click on the ‘Open Demat Account’ button.
3. Provide details like name, city, phone number, etc, and then click the ‘Submit’ icon.
4. You will need all the mandatory documents like Aadhar card, address proof, age proof, PAN card, and photograph in softcopy. Upload those online.
5. After receiving the OTP, verify it and you will be able to use your Demat account.
Charges
- Equity delivery trading – Null.
- Equity intraday trading – Rs. 20/executed order or 0.05% (whichever is low).
- Commodity options trading – Rs. 20/executed order(flat).
- Equity futures trading – Rs. 20/executed order or 0.05% (whichever is low).
- Equity options trading – Rs. 20/executed order(flat).
- Currency futures trading – Rs. 20/executed order or 0.05% (whichever is low).
- Currency options trading – Rs. 20/executed order(flat).
- Minimum brokerage charge – Rs. 20.
- Demat account Annual Maintenance Charge(AMC) – Rs. 249.
Conclusion of Upstox Review
Upstox keeps its focus on technology, it has fast performance, easy user interface, handy features. But, some issues discussed earlier are also something to take into account. Altogether, the platforms and charges it offers makes it a mixed package and certainly reliable for serious trader and investors.