Zerodha
India's largest stockbroker by client base
4.6/ 5
Best for: Cost-conscious DIY investors who mainly buy-and-hold stocks or trade F&O occasionally.
Upstox review
Low-cost broker with fast trading tools
4.3/ 5App: 4.3/5
- Since 2009
- Delivery ₹20 per order
- AMC ₹0
Open an account with UpstoxSEBI-registered stockbroker | Member: NSE, BSE, MCX
Fees & pricing4.4
Trading platforms4.3
Customer support3.7
Research & education3.0
Ease of opening4.4
Reviewed by LetsInvest Research DeskUpdated 13 Sept 2026Pricing verified 13 Sept 2026How we test
Overview
Upstox is a discount broker backed by major investors, offering equity, F&O, IPOs and mutual funds with a focus on fast execution and API-based trading.
Best for: Mobile-first traders and developers who use trading APIs.
Pros & cons
What we like
- Free account opening
- Fast Pro web + mobile platforms
- Good API for algo traders
- Competitive flat pricing
Watch out for
- AMC and platform nuances change often — verify
- Support quality is inconsistent
- Margin-trading funding costs add up
Fees & charges
Account charges
- Account openingOne-time charge to open your demat + trading account. Many discount brokers have made this free.
- ₹0Confirming
- Annual maintenance (AMC)Yearly demat maintenance, charged by the broker (separate from CDSL/NSDL custodian fees). Often free for the first year.
- ₹0Confirming
Equity
- Equity deliveryBrokerage when you buy shares and hold them overnight or longer. This is the charge long-term investors should minimise.
- ₹20 per orderConfirming
- IntradayBrokerage on same-day buy-sell trades. Percentage caps (e.g. 0.03%) protect small orders from the flat fee.
- ₹20 per orderConfirming
Derivatives (F&O)
- OptionsPer-order charge for options buying/selling. Excludes STT, exchange and SEBI charges, which apply equally everywhere.
- ₹20 per orderConfirming
- FuturesPer-order charge for futures trades. Same statutory extras as options apply on top.
- ₹20 per orderConfirming
Sources: official broker pricing pages. Figures marked “Confirming” are being re-verified — always confirm before trading.
Platforms & features
platforms
- Mobile app✓ · Upstox Pro
- Web platform✓ · Upstox Pro Web
trading
- Trading API✓ · Free historical + websocket APIs
investing
- IPO investing✓ · UPI-based IPO applications
research
- Research & advisory—
Our verdict
Upstox is a solid low-cost alternative to the big two, especially for API users. Confirm current AMC and plan details before opening an account.
How to open a Upstox account
Start your application
Open the Upstox signup with your mobile number and email — it takes about 10 minutes.
Complete e-KYC
Verify with PAN, Aadhaar-based OTP, a live selfie and your bank proof (cancelled cheque or statement).
E-sign documents
Digitally sign the account-opening form and nomination details via Aadhaar e-sign.
Get your client ID
Activation usually takes 24–48 hours. Your login credentials arrive by email and SMS.
Compare Upstox
Alternatives to Upstox
Upstox FAQs
Is Upstox good for algo trading?
Yes — Upstox offers well-documented free APIs (historical data + websockets) that developers and algo traders rate highly versus most Indian brokers.
Affiliate disclosure: LetsInvest earns a commission if you open an account via links on this page — at no extra cost to you. Rankings are editorial and never sold. Read how we make money and our methodology.
How we research. Every fee on this site carries a source and a verification date. Data is re-checked against official broker pages; read our editorial methodology. LetsInvest is a research publication, not a financial adviser — see our terms.