Overview
Upstox is an Indian discount broker for people who want to trade and invest on NSE, BSE and MCX from a phone or browser. It suits active intraday and F&O traders, and beginners who want to start with mutual funds or IPOs without paying commission. Its broking arm, Upstox Securities Pvt. Ltd., is registered with SEBI (INZ000315837), and the company's corporate office is in Mumbai.
Accounts and costs
There's one demat and trading account, and opening it costs nothing. You'll need your PAN and Aadhaar, plus salary slips, a bank statement or an ITR if you want futures, options, currency or commodity trading. Equity, F&O, commodity and currency orders cost a flat ₹20 each, while mutual funds and IPOs are commission-free. New users don't pay the annual maintenance charge for the first year. That ₹20 also applies to delivery trades, which matters if you buy and hold shares often.
Leverage comes as intraday margin, up to 5x on equity in reviews, and through the Margin Trading Facility, which lets you convert eligible delivery trades to MTF.
Platforms and markets
Everything runs on Upstox's own app and web platform, Upstox Pro. It has TradingView charts built in, with up to 8 charts at once, 100+ indicators and trading straight from the chart. Traders also get an option strategy builder, Greeks, open interest analysis and a futures heatmap. You can trade stocks, ETFs, futures and options, commodities and currency derivatives, plus mutual funds, IPOs, bonds and NCDs.
Money in and out
Money moves through your linked Indian bank account. Withdrawals by IMPS, NEFT or RTGS can take from 24 hours to 3 working days, and Upstox also offers instant withdrawals, which users report now carry a fee.
Good
- Free demat and trading account, opened online with PAN and Aadhaar
- Flat ₹20 per order on intraday, F&O, commodity and currency trades
- No commission on mutual funds and IPOs
- TradingView charts built in, with up to 8 charts at once
- Trade NSE, BSE and MCX from one account
Watch for
- Delivery trades cost ₹20 an order, where some rivals charge nothing
- Annual maintenance charge applies after the first year
- Instant withdrawals now carry a fee
- Account opening needs a PAN and an Aadhaar linked to your mobile
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Demat and trading account | None | ₹0 account opening; ₹20 per order on equity, F&O, commodity and currency orders; ₹0 commission on mutual funds and IPOs; no AMC in the first year for new users | Up to 5x on intraday equity and through MTF on eligible delivery trades |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer
- Minimum deposit
- None
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
Upstox is one of India's largest discount brokers, but the review sites that collect written complaints show it in a poor light. MouthShut users rate it 1.73 out of 5 from about 1,400 votes and PissedConsumer shows 1.5 from 47 reviews. Its Trustpilot page has only 42 reviews and no score in the material we collected. Sitejabber's two reviews are too few to mean much. Reddit is more divided, with plenty of users happy with the app.
What traders like
The app on busy days. Several Reddit users say the platform held up well on heavy days such as election results and IPO launches.
Ease of use. Users switching from other apps praise the interface and say it is quick to place trades.
Product range. Some like being able to buy bonds, gold bonds and other products beyond plain shares.
Common complaints
Support that does not answer. The most common complaint on Trustpilot, PissedConsumer and Reddit is unanswered tickets and phone lines that are always busy.
Rising and hidden charges. Many reviewers say brokerage, account maintenance and back-office fees have crept up, and that charges for things like bank updates were not made clear. Several call the Basic and Plus plans confusing.
Withdrawals. Some reviewers say instant withdrawals failed or payouts were rejected and took days to come back, and one says agreed compensation was never paid.
Outages and order handling. A few users describe the platform failing at key moments, and some Reddit traders dislike how stop-loss and GTT orders work.
Marketing messages. Some reviewers say they get daily calls or texts after an abandoned sign-up.
Recently
No reviews clearly dated in the last 90 days turned up. The newest Trustpilot and PissedConsumer reviews repeat the themes above: support, fees and withdrawals.
Where this comes from
Trustpilot: a small set of reviews, mostly negative.
MouthShut: Indian consumer review site with the largest pool of ratings.
PissedConsumer: complaints.
Sitejabber: two reviews.
Reddit search: threads in r/IndianStockMarket and r/NSEbets.
Verified reviews
Reviews from traders who've connected an account at Upstox to Chartnaut, so you know they actually traded there. Opening soon.