With the advent of technology, we could see ‘app’ based brokers coming up. Technology helped them lower their operating cost and hence, they were able to pass it down to their customers. These brokers came to be known as ‘discount brokers’. They offer low brokerage charges but unlike full-service brokers, their services are limited to trading. This is the review of one such popular discount broker.
A lot of you people have heard that online platforms are best for trading. They are safer, reliable, encompasses the best safety and securities etc.
Well, this is true, online trading platforms have come as a divine help for those who are the trading and investing enthusiasts. But, it’s not as easy as it appears to be a part of such trading platforms. If you wish to trade via the prevailing online trading platforms then you must have a crystal clear understanding of the way they charge you. Yes, it’s the most important thing while selecting your broker house.
There are various broker houses, but in this article we are considering one of the most famous and swiftly emerging trading platforms called upstox. You must have heard of it right? Here, we will discuss in detail what the company upstox is all about and how it is charging various fees and charges from it’s customers, so let's begin!!
About Upstox
The company, Upstox is a tech-first low cost broking company in India that is giving trading opportunities at indomitable prices. This company provides trading on different sectors such as commodities, equities, currency, futures, options which are obtainable on its Upstox Pro Web as well as on Upstox Pro Mobile trading platforms.
Upstox is supported by a group of investors which encompasses Kalaari Capital, Ratan Tata as well as GVK Davix.
This trading platform upstox offers trading, analysis, charting and many other rich trading features. This platform makes it susceptible and simple to place orders through mobile phones as well as the web browser. Upstox trading outlet is created on Omnisys NEST OMS (Order Management System) and also the Omnisys NEST RMS (Risk Management System).
The best thing about Upstox is that it gives absolutely free trading accounts and also free trading in the Equity Delivery segment. Trading in Equity F&O, Equity Indra-day, Currency Derivatives and commodities is available through Upstox Pro only. UpStox Pro is nothing but the paid service of UpStox for traders.
Now, we must have a look at the way upstox charges it’s few from it’s large customer base.
Charge sheet of upstox
You must have heard that the trading platform upstox does not charge even a penny for the demat accounts it provides. It’s true to an extent but not completely. There are still some mandatory charges that you will have to pay if you are a trader and using the platform of upstox. Let’s have a look at some of the following:
Note: You can calculate the Upstox brokerage Charge for free. Click the link below.
Prepaid Brokerage Plans of Upstox (¹249, ¹499 or ¹999)
Each and every upstox customer likes to purchase one of the following prepaid plan of the brokerage so that he can open a Upstox account. It is essential for a trader to purchase a prepaid brokerage plan with this platform, upstox. This plan is also very mandatory for those people who would like to do only equity delivery trades which are absolutely free from the brokerage.
Plan
Customer Pays
Customer gets brokerage worth
Extra brokerage earned
Standard Plan
¹249
¹400
¹151
Advanced Plan
¹499
¹1,000
¹501
Premium Plan
¹999
¹2,500
¹1501
Upstox Equity Delivery Charges and the Intraday Charges
Upstox Charges
Equity Delivery
Equity Intraday
Brokerage
¹0
¹20 per executed order or 0.05% (whichever is lower)
STT
0.1% on both Buy and Sell
0.025% on the Sell Side
Transaction Charges
¹325/crore
¹325/crore
Demat Transaction Charges
¹18.5 per scrip (only on sell)
¹0
GST
18% (on Brokerage + Transaction Charges)
18% (on Brokerage + Transaction Charges)
SEBI Charges
¹5/Crore
¹5/Crore
Stamp Duty
*
*
Equity Future and Options Charges of Upstox
Upstox Charges
Futures
Options
Brokerage
¹20 per executed order or 0.05% (whichever is lower)
Flat ¹20 per executed order.
STT
0.1% (on Sell Side)
0.1% (on Sell Side)
Transaction Charges
¹210/crore
¹5500/crore on premium turnover
Demat Transaction Charges
¹0
¹0
GST
18% (on Brokerage + Transaction Charges)
18% (on Brokerage + Transaction Charges)
SEBI Charges
¹5/Crore
¹5/Crore
Stamp Duty
*
*
What are the Currency Charges of upstox?
Currency brokerage of upstox charge is ¹20 per committed order or 0.05%.
Upstox Charges
Currency Futures
Currency Options
Brokerage
¹20 per executed order or 0.05% (whichever is lower)
Flat ¹20 per executed order.
STT
No STT
No STT
Transaction Charges
NSE: 0.00013% | BSE: 0.00062%
NSE: 0.065% | BSE: 0.026% (on premium)
GST
18% (on Brokerage + Transaction Charges)
18% (on Brokerage + Transaction Charges)
SEBI Charges
¹5/Crore
¹5/Crore
Stamp Duty
*
*
What are the Upstox Commodity Charges?
The Commodity brokerage of Upstox is just ¹20 per executed order or 0.05%.
Upstox Charges
Commodity Futures
Commodity Options
Brokerage
¹20 per executed order or 0.05% (whichever is lower)
Flat ¹20 per executed order.
STT
0.01% on sell trade (Non-Agri)
0.05% on sell trade
Transaction Charges
0.0031%
0.002%
GST
18% (on Brokerage + Transaction Charges)
18% (on Brokerage + Transaction Charges)
SEBI Charges
¹5/Crore
¹5/Crore
Stamp Duty
*
*
What are the hidden charges that are charged by the Upstox?
Conclusion
So now after reading this whole thing you must have get an idea about the working procedure of of upstox? how does it work? and how it makes money from you?
Now it is clear that upstox charges some of the mandatory charges that too at a very minimal rate and is not asking nothing wrong from you. The charges mentioned are the basic one and are charged everywhere you go.
After seeing the above charge sheet you can now arrive at a decision that whether upstox is the platform suitable to you, or not? You should not give it another second if you made your mind for the upstox, and should begin with procedure of demat account now only.
Happy( and smart ) investing!!
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