Broker Guidelines

Guidelines for Upstox

Upstox Broker: An Overview

Upstox is one of India's leading discount brokerage firms, offering a wide range of financial services, including equity trading, derivatives, commodities, and mutual funds. Known for its user-friendly platform and low brokerage charges, Upstox has become a popular choice among both beginner and experienced traders. The firm provides advanced tools like the Upstox margin calculator and brokerage calculator to help traders optimize their strategies and manage costs effectively.

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What you will need to add Upstox account in Cirrus

  • You need to have a Cirrus Account. If you don't have one, follow the LINK.

• You need to have a Demat account in Upstox. If you don’t have an account, open a Demat account in Upstox. Make sure to activate F&O on your account.

To add your Upstox account to Cirrus you need an API key and API Secret key. To get that follow below instructions:

• Go to login.upstox.com and log in to your Upstox account by entering your mobile number and OTP.

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• Go to My Account section and click on My App.

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• Click on New App

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• Enter a random name in “App Name”. Now enter any random name in “App Name”. Paste redirect URL in “Redirect URL” box: https://cirrus.trade/add-broker-account/upstox Click Continue, then Confirm Plan.

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• Successfully created an API. Now copy the API Key and API Secret and paste into Cirrus login page.

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FAQs for Upstox

1. Is Upstox Pro different from Upstox?

Upstox Pro is the advanced trading platform offered by Upstox, featuring real-time data, advanced charting tools, and seamless order execution. It's part of the broader Upstox service, tailored for active traders.

2. Is Upstox Pro paid?

No, Upstox Pro is not a paid service. It is provided for free to all Upstox clients who have an active trading account.

3. What is the minimum deposit in Upstox Pro?

There is no specific minimum deposit required to start trading on Upstox Pro. However, you must maintain sufficient funds in your account to meet the margin requirements for your trades.

4. Is Upstox owned by Ratan Tata?

While Upstox has received investment from Ratan Tata, the firm is owned and operated by RKSV Securities India Pvt. Ltd.

5. How do I talk to Upstox customer care?

You can contact Upstox customer care at 022-41792999, Monday through Friday, 8 AM to 5 PM. You can also email Upstox at [email protected].

6. How do I connect to Upstox?

To connect with Upstox, you can reach out via their customer care number, email support, or through their mobile app.

7. How do I raise a complaint against Upstox?

Complaints can be raised through the Upstox customer support portal, via email, or by calling their helpline. You can also lodge complaints through the SEBI SCORES platform.

8. What is the call and trade number of Upstox?

To place orders via Call and Trade, call Upstox at 022-61309998 or 022-71309998. You’ll need your Call and Trade T-Pin to place orders. There’s a ₹59 charge for each order.

9. Does Upstox charge any fee?

Yes, Upstox charges a nominal brokerage fee for intraday, F&O, and other trades. There are also annual maintenance charges for the Demat account after the first year.

10. Is Upstox AMC charged after one year?

Yes, Upstox charges an AMC of ₹150 per annum after the first year of account opening.

11. Is Upstox completely free?

No, while Upstox offers zero brokerage on equity delivery trades, other trades such as intraday, F&O, and commodities are charged at ₹20 per order.

12. Which is better, Upstox or Generic Broker?

Both Upstox and Generic Broker are leading discount brokers in India. While Generic Broker is known for its comprehensive trading tools, Upstox offers competitive pricing and a user-friendly platform. The choice depends on individual trading needs.

13. Does Upstox have a refer and earn program?

Yes, Upstox offers a refer and earn program where you can earn rewards by referring new users to open accounts with Upstox.

14. How much money does Upstox give for referrals in 2024?

The referral reward varies but can be up to ₹1,200 per successful referral in 2024, depending on ongoing promotions.

15. What are Upstox brokerage charges?

Upstox brokerage charges include ₹0 for equity delivery trades, ₹20 per order for intraday and F&O trades, and ₹20 per order for commodities and currency trading.

16. Why are Upstox charges so high?

Upstox offers competitive charges, but some users may find additional fees, such as DP charges and call and trade fees, higher compared to other brokers. These fees are part of the overall cost structure in the industry.

17. Is Upstox safe?

Yes, Upstox is a SEBI-registered broker and follows strict regulatory guidelines, making it a safe platform for trading and investments.

18. Which is better, Groww or Upstox?

Upstox is better suited for traders looking for advanced trading features and low brokerage charges, while Groww is more beginner-friendly and focused on mutual fund investments.

19. What are the disadvantages of Upstox?

Some disadvantages of Upstox include additional charges for services like call and trade and DP charges, and a slightly higher learning curve for new users compared to more beginner-focused platforms.

20. Is Upstox good for beginners?

Yes, Upstox is a good option for beginners due to its low brokerage charges and user-friendly interface, though it offers more advanced tools that may also appeal to experienced traders.