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Upstox Review 2026
Discount BrokerUpstox is the second-largest brokerage in India, serving over 1 crore active users today.
Founded
2009
HQ
Mumbai, Maharashtra
Active Clients
18.5 L+
A/C Opening
FREE
AMC
₹300/yr
About Upstox
Upstox is the second-largest brokerage in India, serving over 1 crore active users today. Established in 2009 by Ravi Kumar, Raghu Kumar, and Shrini Viswanath to make trading and investing accessible and affordable in India. Upstox entered the retail trading space in 2012, and within 2 years they hit a Trading turnover of Rs 4,000 crore. It received funding from various well-known investors such as Kalaari Capital, Mr.Ratan Tata, and Tiger Global, taking its valuation to $3.5 billion. In 2022, its trading turnover crossed the Rs 60,000 cr+ mark.
Today, Upstox is one of India’s largest and lowest-cost online discount broker platforms, offering flat-fee discount brokerage services for investing in stocks, Mutual Funds, IPOs, FDs, NCDs, ETFs, personal loans, NPS, futures & Options, currency, and commodities through its Upstox Pro Web and Upstox Pro Mobile trading platforms.
Upstox started by offering accessible, affordable, and simple trading services. Upstox also offers a separate mode called Upstox for Investors, where users can track the performance of all investments, stock SIPs, and access ready-made mutual fund portfolios.
Brokerage Charges
| Trading Segment | Brokerage Fee |
|---|---|
| Equity Delivery | ₹20.00 |
| Equity Intraday | ₹20.00 |
| F&O - Futures | ₹20.00 |
| F&O - Options | ₹20.00 |
| Mutual Funds & IPOs | ₹0 (Free) |
Trading Margins & Leverage
F&O
1x
Max Leverage
EQUITY DELIVERY
1x
Max Leverage
EQUITY INTRADAY
5x
Max Leverage
Pros
- User-friendly and simple trading platform
- Zero brokerage on Mutual funds and IPOs
- Offers an online brokerage calculator
Cons
- Brokerage fee for stock deliveries is ?20 per trade. While many brokers offer zero brokerage on delivery trades.
- No stock tips or recommendations
- Customer support is limited to digital/online via tickets
Key Features
It is India’s second-largest stock broking platform
It offers ?0 brokerage fees on IPOs and mutual fund investments
It has served over 1 crore active users
It provides a separate Upstox for Investors mode to simplify investing
Backed by well-known investors Kalaari Capital, Mr.Ratan Tata, and Tiger Global
Disclaimer: The details provided for Upstox are for informational and educational purposes. Brokerage fees, margin limits, and account charges are determined by the broker and subject to regulatory guidelines. Please verify the latest tariff sheets and terms directly on the official Upstox website before investing.