Upstox is a discount stockbroker in India and is known for its low brokerage charges along with some high-performance trading platforms across devices. Since it is a discount broker, it does not provide any research or tips to its clients. You can read the full Upstox Review here.
As per the latest records, Upstox has an active client base of 46,790.
Here is a quick snap-shot of the complaints raised by its client base over the last few years along with the number of complaints resolved by the broker in each financial year.
As shown above, this is the break up of the complaints received by the broker and resolved at the same time.
For the year 2015, Upstox complaints were 10 and it was able to resolve 100% of the complaints.
For the year 2016, Upstox complaints were 21 and it was able to resolve 100% of the complaints.
For the year 2017, Upstox complaints were 19 and it was able to resolve 84% of the complaints while the rest 16% remain unresolved.
For the year 2018, Upstox complaints is just 1 in number and it was still open to be resolved.
Upstox Complaints Vs Industry
When it comes to comparing Upstox with the Industry Average in terms of the number of complaints per 10,000 clients, then this is how the broker stands against the industry average:
In other words, Upstox gets more than complaints as far as Industry standards are concerned with Upstox getting complaints from 0.12% of its active client base while the Industry average is 0.11%.
If you have had any good or bad experiences with the broker, feel free to share in the comments section below and help your fellow traders to make a decision to go ahead with Upstox as a stockbroker or no.