• Top Stock Brokers in India ‐ Reviews, Comparison and Offers

Overview Overall

"Founded in 2010, Upstox was then known as RKSV and under the name it rose to become India's leading high tech, algorithmic proprietary trading firm executing actively across all exchanges. It offers a broad range of financial products and services including securities brokerage, mutual fund distribution, Commodity trading etc."

  • Brokerage & Other Charges
  • Mobile Trading
  • Research
  • Customer Services

Why Upstox?

  • Upstox offers zero brokerage on equity delivery trade and a mere ₹20 per transaction on intraday and F&O trades.
  • After Market Order (AMO), Cover Order and BO are available on both web and mobile.
  • Trailing-Stop/Stop-Loss (SL) is available in both web and mobile.
  • Equity delivery trading is free.
  • Offers NRI trading.
  • Offers Mutual Fund Investment, SIP Investement.
  • Upstox is backed by top investors with the likes of Ratan Tata, Kalaari Capital & GVK Davix
  • Upstox offers the best of technology to traders. The Upstox Platform on mobile and web is one of the best platforms for the Indian stock market.


  • No Brokerage on Equity delivery.
  • Low cost Brokerage
  • Self-directed, easy to use online learning for all levels
  • Easy to get started with Aadhar based signup
  • Good Brokerage & Margin Calculator
  • Unlike other low-cost brokers, RKSV offer a variety of affordable pricing plans so that you can choose the plan best suited for you

Needs Improvement

  • No margin funding
  • Does not provide Tips & recommendation
  • Turnover charges on futures and options is higher than competitors
  • Upstox doesn't offer unlimited monthly trading plans.
  • Doesn't offer research based services.


Type of site Private
Founded Year 2009
Headquarters Mumbai, Maharashtra, India
Key people Raghu Kumar,Ravi Kumar,Shrinivas Viswanath
Industry Online Stock Broker
Products Upstox Pro Web,Upstox Pro Mobile, Nest Desktop.
Services Equity Trading,Derivatives Trading,Currency Trading,Commodity Trading
Employees 400+
Website www.upstox.com
Company RKSV Securities India Pvt. Ltd
Subsidiaries RKSV Commodities India Pvt. Ltd.
Users 80000+

Upstox formerly known as RKSV Securities is part of India's top discount broker with over 80,000 active clients. RKSV was founded in 2009 by three cofounders: Raghu Kumar, Ravi Kumar and Shrinivas Viswanath. RKSV is Mumbai-based discount broker and have memberships across stock exchange like NSE, BSE, MCX, and MCX-SX. The company allows retail investors and institutional corporations in India the ability to invest in stocks, futures, options, currencies, commodities and Mutual funds at lower rates compared to traditional full-service brokers.

Discount broking firm RKSV has renamed itself as Upstox. The brokerage firm does approximately 2 per cent of the NSE turnover on a daily basis (appx Rs. 15,000 Cr. turnover daily). RKSV began as a proprietary trading firm in 2012. In 2011-12, RKSV opened up to general public by entering into retail brokering, and launched online-only unlimited trading plan that allowed retail traders to cut down considerably on their brokerage costs.This was soon followed by a blanket-brokerage package that allowed their customers to trade without limit for Rs. 1947 per month. Apart from introducing a flat-fee pay-as you-go trading, they launched many new brokerage plans over the time, including 5 free trades per month in 2014 that supposedly was intended to increase the investor participation.

It has also made a foray into commodity trading and holds a membership with MCX. Upstox has recently raised a series A round of $4 million from a group of investors including Ratan Tata, Kalaari Capital, and GVK Davix.

Upstox offers free trading account and free trading in Equity Delivery segment. Trading in Equity F&O, Equity Indra-day, Commodities and Currency Derivatives is available through Upstox Pro. UpStox Pro is the paid service of UpStox for traders.

Affiliation Details

  1. CIN : U74900DL2009PTC189166
  2. RKSV Securities NSE Member ID:
    • Capital Market (CM) - INB231394231
    • Future & Options (F&O) - INF231394231
    • Currency Derivatives (CDS) - INE231394231
  3. RKSV Securities BSE Member ID:
    • Capital Market (CM) - INB011394237
    • Future & Options (F&O) - INF 011394237
  4. RKSV Commodities MCX Member Code: 46510
  5. CDSL: IN-DP-CDSL- 00282534
  6. NSDL: IN-DP-NSDL-11496819

Customers Service

  1. Phone Number : Customer Support / Call & Trade :+91-22-6130-9999
  2. Email Support :[email protected]
  3. Corporate Office :
    30th Floor, Sunshine Tower,
    Senapati Bapat Marg, Dadar (W),
    Mumbai-400 013

Active Client Details

  • 20+ Thousand clients.
  • Average daily trading turnover of over ₹7,000 crores.

Account Opening & AMC Charges

Trading Account / Demat opening is onetime fee that Upstox charge while initiate your account opening process. Trading /Demat AMC(Annual maintenance Charges) is an annual fee charges by Upstox to maintain your account, this is annual charges and deduct from your account even if you haven't trade for a year.

Type Account Opening (One Time) Annual Maintenance Fees (Yearly)
Trading Account INR150 NIL
Demat Account INR150 INR150

Account Offering

At Upstox you can open an Equity & Derivatives Trading account, Demat account and Commodity Trading account.

Equity & Derivatives Trading Account

Upstox offer only online Trading Accounts and you will have an option to trade either through a software based platform, a web based platform or a mobile application. Upstox offers you to place order by call and trade which will be charged Rs.20+GST per order through phone and you can modify an order as many times you want to during a day.

Equity Demat Account

Annual maintenance charge (AMC) for a Demat account at Upstox is Rs.150 which is collected at the end of the financial year on a pro-rata basis and the Demat account opening charges are Rs.150.

Commodity Trading Account

A Commodity Trading account is what you open with a Trading Member (Commodity Broker as you call him) of recognized Commodity Exchange (MCX, NCDEX etc. in India). There are no Annual Maintenance charges for your Commodity Account at Upstox and you can trade on MCX. Only futures trade on MCX and hence there is no need of a Demat Account for trading Commodities. At the end of the contract, the Future is cash settled (if you haven't already squared off the position) or you can opt for physical delivery (not allowed at most of the online broking firms, including Upstox).

Opening an Account with Upstox

The account opening process in India still requires offline processes for completion. We still have to sign physical copy of forms and other documents.

Account opening fees are as follows :

  • AMC charges of Rs.150 (+GST) are collected at the end of the financial year on a pro-rata basis and the Demat account opening charges are Rs.150 (+GST) for NSE & BSE.
  • DP charges are Rs.13+Rs.5.5 = Rs.18.50 (+GST) which is charged only on the sell side of the transaction. The CDSL & NSDL are the depositories that charge the DP charges as a source of their revenue. Depository Participant charge is levied any time you sell shares from your demat account. This is akin to Exchanges like BSE and NSE charging a transaction fee.

The Final Thoughts

"RKSV have relentlessly challenged the status quo in the brokerage industry by eliminating unnecessary overhead costs & passing the savings on to customers. The result? RKSV customer's daily turnover on the exchanges exceeds Rs. 15000+ Crores.

RKSV is a one of the top discount brokers in India & reviews about them is also very good in trader's community like zerodha

  1. Zero brokerage, great support.
  2. Unlike other low-cost brokers, RKSV offer a variety of affordable pricing plans so that you can choose the plan best suited for you.
  3. RKSV powerful online trading tools will help you make better trading decisions."

Upstox(RKSV) User Reviews

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