📊 Upstox Review 2026
Backed by Tiger Global & Ratan Tata — honest review of charges, features, pros & cons
Upstox (formerly RKSV) was founded in 2012 and is backed by Tiger Global and Ratan Tata. It's a feature-rich discount broker with a Pro Web trading platform, solid charting tools, and fast order execution. Good for active traders but has a ₹300/year demat AMC (1st year free) and charges for equity delivery — making it less cost-effective than Zerodha for long-term investors.
💰 Upstox Charges 2026
| Segment | Brokerage | Notes |
|---|---|---|
| Equity Delivery | ₹20 or 0.01% (whichever lower) | Not free like Zerodha |
| Equity Intraday | ₹20 or 0.01% (whichever lower) | Per executed order |
| Equity F&O | ₹20 per executed order | Flat fee |
| Currency & Commodity | ₹20 per executed order | Flat fee |
| IPO Application | ₹0 FREE | Apply via Upstox app, no charges |
| Mutual Funds | ₹0 FREE | Direct plans only |
| Account Opening | ₹0 FREE | Fully digital KYC |
| Demat AMC | ₹300/year 1st Year Free | Charged from 2nd year onwards |
| DP (Sell) Charges | ₹18.5 + GST per scrip per day | Slightly higher than Zerodha |
⚖️ Pros & Cons
✅ Pros
- Strong Pro Web platform with advanced charts
- Good for active intraday traders
- F&O tools and option chain viewer
- Backed by reputed investors
- Free IPO applications
- Free account opening
- Commodity and currency trading available
❌ Cons
- ₹20/delivery (Zerodha is zero)
- ₹300/year AMC from 2nd year
- DP charges slightly higher than peers
- Mobile app not as polished as Groww
- Customer support response time
- Research tools are limited
💡 Why We Recommend Zerodha Over Upstox
Zerodha offers zero brokerage on equity delivery, matching AMC pricing (₹300/year, 1st year free), and a better overall ecosystem with Kite + Coin + Varsity. For IPO investors and long-term holders, Zerodha is the clear winner.
⚡ Open Zerodha — Zero Delivery Charges + ₹100 RewardMax 5 ₹100 reward claims/month · Email Client ID to contact@ipobee.in