upstox Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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PURE SCAM! STAY AWAY! First things first, Upstox is not a reliable broker! When I started to make money, they immediately tried to disable my account not to lose money from their treasury.
Upstox has emerged as one of the leading discount brokers in India, known for its competitive pricing and advanced trading platforms. This review synthesizes various sources to provide a comprehensive overview of Upstox, highlighting its strengths and weaknesses based on user experiences and expert opinions.
Note: Its important to consider that Upstox operates under different entities across regions, which may influence the user experience. This review aims to present a balanced view based on multiple sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 9 |
| Tools and Resources | 8 |
| Customer Service and Support | 7 |
| Trading Experience | 8 |
| Trustworthiness | 9 |
| User Experience | 8 |
| Additional Features | 7 |
How We Rate Brokers: Our ratings are based on user reviews, expert analyses, and factual data regarding the broker's offerings.
Founded in 2012, Upstox, formerly known as RKSv Securities, has quickly established itself as a prominent player in the Indian stock brokerage market. With a headquarters in Mumbai, it operates under the regulatory oversight of the Securities and Exchange Board of India (SEBI). Upstox offers a range of trading platforms, including Upstox Pro (web and mobile), and supports trading in various asset classes such as equities, commodities, currencies, and derivatives.
Upstox is regulated by SEBI and is a member of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), and Multi Commodity Exchange (MCX). This regulatory framework provides a level of security and trust for users.
Upstox primarily operates in Indian Rupees (INR) for deposits and withdrawals. It accepts various funding methods, including net banking, UPI, and Google Pay.
There is no mandatory minimum deposit required to open an account with Upstox, making it accessible to a wider audience.
Upstox occasionally offers promotions such as zero account opening charges and free mutual fund investments, which can be appealing for new users looking to minimize costs.
Upstox allows trading in a wide array of financial instruments, including stocks, mutual funds, commodities, futures, options, and currencies, catering to diverse trading strategies.
Upstox operates on a flat fee structure, charging ₹20 per executed order for most trades, including equity delivery, intraday, and futures trading. This straightforward pricing model is often highlighted as a significant advantage in user reviews, especially when compared to traditional brokers that charge a percentage of the trade value.
Upstox offers leverage of up to 20x for intraday trading, which can enhance potential returns but also increases risk.
Users can access Upstox through its proprietary platforms, including Upstox Pro for web and mobile. The platforms are equipped with advanced charting tools and real-time data, enhancing the trading experience.
While Upstox primarily serves Indian residents, it also offers services to Non-Resident Indians (NRIs) under specific conditions. However, certain features may be limited for these users.
Upstox provides customer support in English and Hindi, accessible through various channels, including email, phone, and a ticketing system. However, user reviews indicate that response times can sometimes be slow, particularly during peak trading hours.
Upstox scores high in account conditions due to its zero account opening fees and no annual maintenance charges for trading accounts. This makes it an attractive option for new traders.
The platform offers a variety of tools, including advanced charting capabilities and market analysis resources, which are crucial for informed trading decisions. However, some users have noted that the educational resources could be more extensive.
While Upstox offers multiple support channels, user feedback suggests that the quality of service can be inconsistent, with some users experiencing delays in response times.
The trading platforms are generally well-received, with users appreciating the user-friendly interface and the speed of execution. However, there have been reports of technical issues during high volatility periods, which could impact trading outcomes.
Upstox is regarded as a trustworthy broker, backed by notable investors like Ratan Tata and Tiger Global. Its regulatory compliance with SEBI further enhances its credibility.
Overall, users report a positive experience with Upstox, particularly valuing the low-cost structure and the advanced trading tools available. However, some have expressed concerns regarding customer support and occasional technical glitches.
In conclusion, Upstox stands out as a leading discount broker in India, especially for those looking for a cost-effective trading solution. Its competitive pricing, user-friendly platforms, and regulatory compliance make it a reliable choice for both new and experienced traders. However, potential users should weigh the pros and cons, particularly regarding customer support and any technical issues that may arise. Overall, Upstox is a solid option for anyone looking to engage in stock trading in India.
For those considering opening an account, it is advisable to conduct thorough research and assess personal trading needs to ensure that Upstox aligns with your investment goals.
