Upstox Advantages and Disadvantages
Upstox is one of the most preferred stockbrokers with the client base increasing many times when compared to other brokers. It is a technological stockbroking platform with tools built to simplify stock trading for new investors and traders. Because of its Competitive pricing and custom-built trading tools, the platform is growing over the past few months.
Company provide trading on different segments such as equities, commodities, currency, futures, options which are available on its Upstox Pro Web and Upstox Pro Mobile trading platforms.
Upstox is backed by a group of investors including Kalaari Capital, Ratan Tata and GVK Davix.
Upstox is one of India’s fastest-growing brokers. A fast, reliable and easy-to-use trading platform with paperless account opening. Because of its easy account opening and simplified process, a lot of new investors who are new to stock markets find it very simple to start investing in companies.
The pricing model of Upstox is also so competitive that it offers Zero brokerage for Equity delivery and a flat brokerage for Futures and Options, Commodities trading.
Advantages and Disadvantages of Upstox
Upstox Pros (Advantages)
The following are the advantages of Upstox. You must read Upstox advantages and disadvantages before opening an account with Upstox. Upstox pros and cons help you find if it suits your investment needs.
- Upstox offers brokerage free trading in Equity Delivery segment (Customer does not have to pay brokerage for delivery trades in equity segment).
- Mobile trading app available for both Android and iOS phones. No software uses charges.
- After Market Order (AMO), Cover Order and Bracket Order(BO) or One cancels Other (OCO) orders are available on both web and mobile.
- Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
- Upstox Pro Web Trading Platform offers multiple indicators to monitor markets on-the-go.
- Upstox Bridge for AmiBroker helps you to code & execute your trading strategy using the AmiBroker AFL editor.
- Upstox Developer Console helps you build (code) your own trading app using languages such as Python.
- Upstox Option Chain Tool helps traders find out Spot, Future prices, vertical comparison of rates, get details such as circuit levels, Open High Low Close and market depth. It allows customers to measure volatility, open Interest, performance indicator and check greeks as well.
- Upstox Mutual funds Platform offers 1000’s of Mutual Funds for investing. Investors can choose a Lumpsum or SIP(Systematic Investment Plan) pattern of investing.
- Priority Brokerage Plan(a paid plan) is available for customers who need higher leverage which is most useful for intraday traders.
Upstox Cons (Disadvantages)
The following are the cons of Upstox. Check the list of Upstox drawbacks.
- Good Till Cancelled (GTC) and Good Till Date/Time (GTD) Orders are not available in Equity Segment. GTC/GTD orders are available in commodity trading.
- Margin Funding is not available on delivery trades. Higher leverage is available in Upstox Priority Pack account.
- Upstox doesn’t offer unlimited monthly trading plans.
- Call and trade fee is charged at extra ₹20 per executed order (₹20 Brokerage + ₹20 Call & Trade Fee).
- Additional ₹20 per executed order is charged for Intraday square MIS/BO/CO orders when they are not square off by the customer.
- Brokerage free trading is available only in Equity Delivery segment (in Upstox Basic plan). For all other segments including Equity F&O, Commodity F&O and Currency Derivative, the brokerage is charged at ₹20 or lower per trade.
- In Upstox basic plan, though brokerage is free, customers still have to pay the Demat Transaction Charges. Upstox Demat debit transaction charges (₹21.83) is high than other discount brokers who charge a fee of ₹15.93 per Demat debit transaction.
- Doesn’t provide stock tips or recommendations.
- 3-in-1 accounts are not available as the company doesn’t provide banking services.
- 24/7 customer service is not available.
- Upstox NRI Trading and Demat account are no more available (since Jan 2018).
- Upstox doesn’t offer API access for automated trading.
Read more on Upstox
