BASIC INFORMATION: Upstox, formerly known as RKSV Securities, is an online private discount broker from India offering commodities, equities, futures, mutual funds, IPOs, currencies and options. Upstox was founded and established in 2011 by owners Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. It was formerly known as RKSV Securities India Pvt. Ltd. The brokerage is backed by a group of investors, which include Kalaari Capital, Ratan Tata and GVK Davix. Additionally, the broker is registered with the National Securities Depository Limited (NSDL), Securities and Exchange Board of India (SEBI) and Central Depositories Services India (CDSL). Upstox offices are currently headquartered in Mumbai, India but the broker has partner offices all over the country, including in Kerala and Gujarat. The broker claims to have over 4 million users as of 2021. The broker is most suited to Indian residents but opens up its services to non-resident Indians (NRI) under specific account opening processes. REGULATORY INFROMATION: LICENSE No valid regulatory information Please be aware of the risk! MARKET Upstox offers a wide range of asset classes and investing options that can be traded from one platform: Upstox Pro. These include: · Stocks on the BSE, NSE and MCX exchange, as well as major global stocks · 2000+ mutual fund schemes · Futures & Options (F&O) · Equities · IPOs In 2020, Upstox expanded its global investments to include 60 exchanges across 25 countries, such as US stocks on the NYSE. TRADING FEES As a discount broker, Upstox offers low trading fees across its asset classes. The pricing model features include the following charges: · Zero commission in mutual funds · Zero brokerage plan on mutual funds and IPOs · Flat INR 20 fee or 0.1% (whichever is lower) on Equity Delivery orders · Flat INR 20 fee or 0.05% (whichever is lower) on Equity Intraday, Futures and Options, Currency and Commodity. The flat INR 20 fees remain, regardless of the size of your order. Upstox has a comprehensive charge list of brokerage rates on its website, with no hidden charges. This includes SEBI charges, Demat transaction charges, joining fees, holding charges and stamp charges LEVERAGE Under SEBI guidelines updates, Upstox offers up to 1:5 leverage on intraday and cover orders (CO) in equities. Additionally, the broker is permitted up to 1:1.33 margins on intraday and CO orders in futures and stock futures, indices and stock options (selling), NSE currency futures, and MCX futures. However, margins are not applicable to options buying. ACCOUNT TYPES Demat Account Upstox‘s Demat Account allows you to hold your shares in an electronic format. Indian traders cannot invest without a Demat account to store their positions. These accounts also let you monitor all your stocks and funds in one place, also providing access to the mutual fund’s platform page. Demat accounts must be paired with a trading account to actually link to the exchanges and place the orders. Upstox Demat accounts can be opened individually, providing storage but no trading services (you would open a trading account with a different broker). Demat accounts with Upstox incur a yearly “annual maintenance charge” (AMC) of INR 150 and an account opening charge of INR 249. Trading Account The trading account acts like the cash you use to purchase on the market. This account allows you to place orders on Upstox Pro, trade across multiple asset segments and easily transfer funds from your bank to your trading account. This account has a zero AMC fee and you can enjoy free equity delivery trading with no hidden charges. Upstox offers a 2-in-1 joint account, which combines the Demat and trading accounts, providing a holistic trading solution DEPOSITS & WITHDRAWALS Upstox offers the following methods for funding accounts, with varying processing times and fees: · Smart Fund Transfer: Instant (Free. Deposit up to INR 5,000,000 in one transaction with an unlimited number of transactions). · NetBanking: 1 – 10 minutes (INR 7 every transfer) · UPI Transfer: 1 – 10 minutes (Free) · Google play: 1 – 10 minutes (Free) · Cheque: 3 – 5 working days (Free) · IMPS/RTGS: 30 minutes (Free) · NEFT: 3 – 4 hours (Free) Withdrawing funds can be done directly from the Upstox Pro app. Withdrawals are automatically returned to your primary registered bank account. Withdrawals are usually processed within two working days from the time of request. You can withdraw up to the amount available on your account and there are no withdrawal charges. Upstox has partnered with 23 banks, which allows you to transfer funds via ATOM instantly. Banks include the Bank of India, YES Bank, HDFC Bank, IDBI Bank and ICICI Bank TRADING PLATFORMS · Upstox Pro Web · HTML-based trading platform TRADING HOURS Trading times on Upstox adhere to the following market hours: · NSE Cash, BSE Cash and NSE F&O: 09:15 to 15:30 IST · NSE Currency Derivatives: 09:00 to 17:00 IST · MCX: 10:00 to 23:30 IST from April to October, 10:00 to 23:55 IST from November to March. On Saturdays, the market timings are between 10:00 and 14:00 IST. CUSTOMER SUPPORT If you encounter login issues on Upstox Pro or have any queries, contact the Upstox customer care team: For New Accounts: · Helpline Numbers: 022 4179 2991, 022 6904 2291, 022 7130 9991 (every day from 09:00 to 23:00 IST) · Email: new.account@upstox.com ACCEPTED COUNTRIES Upstox accepts traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries