AI Overview
Upstox at a glance (2026):
- Account opening: ₹0 (often free with promotions)
- Annual demat maintenance: ₹150/year
- Equity delivery brokerage: ₹0
- Intraday/F&O: ₹20/order or 0.05%
- Platform: Upstox Pro Web + Mobile App
- IPO: Fully supported via UPI, free
Upstox is India’s second-largest broker by active clients. Best for beginners and cost-conscious investors who want the lowest fees and a clean, user-friendly app.
Introduction: The Budget-Friendly Alternative to Zerodha
Upstox entered the Indian brokerage market as RKSV in 2010 the same year as Zerodha and has since grown into one of India’s top three brokers with backing from Tiger Global. It has consistently competed with Zerodha by offering lower charges, a friendlier app interface, and frequent zero-fee promotions.
In 2026, Upstox is particularly popular among first-time investors, students, and anyone who wants to start investing with minimal upfront cost.
Upstox Charges (2026)
| Charge | Amount |
| Account Opening | ₹0 (frequently free, check current offers) |
| Annual Demat Maintenance | ₹150/year (first year often free) |
| Equity Delivery | ₹0 |
| Equity Intraday | ₹20/order or 0.05% (whichever is lower) |
| Equity Futures | ₹20/order |
| Equity Options | ₹20/order |
| DP Transaction Charges | ₹18.5 + GST per scrip (on sell) |
| IPO Application | Free |
| Mutual Funds | ₹0 (via Upstox MF) |
Cost comparison with Zerodha: Upstox’s annual AMC is ₹150 vs Zerodha’s ₹300. Over 10 years, this saves ₹1,500. The DP charges are slightly higher than Zerodha’s (₹18.5 vs ₹13.5 per sell), which matters for active traders who sell frequently.
Upstox Platform
Upstox Pro Web
The web platform is modern, clean, and well-organized. Key features include:
- Advanced charting with multiple indicators and timeframes
- Watchlists for tracking IPO performance and portfolio stocks
- Option chain view for derivatives traders
- Integrated market data and news feed
Upstox Mobile App
Upstox’s mobile app is widely praised for its simplicity and speed. The home screen is designed with beginners in mind IPOs, market movers, and portfolio performance are all surfaced prominently.
For IPO applications, the app has a dedicated “IPO” section on the home screen making it among the most visible IPO discovery interfaces of any major broker.
Upstox MF (Mutual Funds)
Upstox offers direct mutual fund investment through its app, covering all major AMCs and fund categories. This is competitive with Zerodha Coin but built into the main Upstox app rather than a separate product.
Upstox IPO Application Experience
Upstox’s IPO section is one of its strongest selling points for retail investors who primarily participate in IPOs.
- Visibility: IPOs are featured prominently on the app home screen, often with subscription status, GMP data (where available), and a one-tap Apply button.
- Application flow: Entering bid details, selecting lots, and entering a UPI ID is intuitive and takes under 2 minutes.
- Mandate processing: UPI mandate requests through Upstox are generally prompt most users report receiving the mandate notification within 5–10 minutes of application submission.
- Status tracking: Bid status is visible in the IPO section of the app including amount blocked, mandate status, and allotment result once published.
- Subscription data: Upstox displays live subscription progress for open IPOs directly in the app a useful feature that Zerodha does not offer natively on the same screen.
Is Upstox Safe?
Yes. Upstox is:
- Registered with SEBI as a stockbroker
- A member of NSE, BSE, MCX, and NCDEX
- A CDSL and NSDL depository participant
- Backed by Tiger Global (a major global investment firm)
Your shares held in your Upstox demat account are stored in CDSL or NSDL the government-authorized depositories not with Upstox itself. This means your securities are protected even if Upstox were to face operational difficulties.
Upstox is also required to maintain mandatory client fund segregation and regular compliance audits as per SEBI regulations.
Upstox: Pros and Cons
Pros:
- Zero account opening charge (frequently offered)
- Lowest annual AMC among major brokers (₹150/year)
- Clean, beginner-friendly mobile app
- IPO section prominently featured and well-designed
- Live subscription data visible in-app for open IPOs
- Zero delivery brokerage
Cons:
- Platform slightly less feature-rich than Zerodha Kite for advanced traders
- DP charges (₹18.5) slightly higher than Zerodha’s (₹13.5)
- Customer support can be slow during high-traffic periods
- Research and advisory features limited vs Angel One
- Platform stability during peak IPO application windows historically less proven than Zerodha
Upstox vs Zerodha: Which Should You Choose?
| Feature | Upstox | Zerodha |
| Account Opening | ₹0 | ₹200 |
| Annual AMC | ₹150 | ₹300 |
| DP Charges (per sell) | ₹18.5 | ₹13.5 |
| Delivery Brokerage | ₹0 | ₹0 |
| App for Beginners | Better | Good |
| Platform for Advanced Traders | Good | Better |
| IPO Application | Excellent | Excellent |
| Research Features | Limited | Limited |
| Customer Support | Good | Good (ticket-based) |
Choose Upstox if: You are a beginner, prioritize the lowest possible fees, or primarily apply for IPOs and want a clean, simple interface.
Choose Zerodha if: You are an active trader, value platform reliability above all else, or use Coin for mutual fund investments.
How to Open Upstox Account
- Visit upstox.com → Click “Open Account”
- Enter mobile number (OTP verification)
- Enter PAN details
- Complete Aadhaar KYC (digital, no physical paperwork)
- Link bank account
- Complete video KYC / selfie verification
- Account activates within 24–48 hours
Open Upstox Account Affiliate link that supports iposhareprice.com
Frequently Asked Questions
Is Upstox better than Zerodha?
For beginners and IPO investors prioritizing low cost: Upstox has the edge. For experienced traders and investors who want the best platform: Zerodha leads. Both are excellent choices.
Does Upstox charge for IPO applications?
No. IPO applications via UPI through the Upstox app are completely free.
Is my money safe with Upstox?
Your investments (shares) are safe they are held in CDSL/NSDL, not with Upstox. Funds in your trading account carry broker-level risk, but SEBI regulations require strict fund segregation.
Can I switch from Upstox to Zerodha later?
Yes. You can open a Zerodha account anytime and transfer shares through DIS (Delivery Instruction Slip) from CDSL. There is no lock-in with any broker.
