Upstox is one of the best discount brokers in India and this article will talk about all the possible Upstox charges for various things like account opening, brokerages etc.
Apart from that, there are a lot of other types of charges as well including API charges, withdrawal charges, fund transfer charges, NRI Trading charges etc. This detailed review on Upstox charges is going to explain everything to you!
Let us go through the Upstox charges one by one in detail.
Upstox Charges for Account Opening
The Upstox account opening charges are to be paid upfront and are generally, the first kind of payment you need to make to the broker before moving ahead with the process.
Upstox offers demat and trading accounts in 3 different categories.
Let us discuss these charges for those three categories:
1. Upstox Charges for Individual Account Opening
Demat account charges – The demat account is opened for free.
Trading account charges – In order to trade in different segments, the Upstox trading account needs to be opened, the charges of which are ₹200 including taxes.
Annual Maintenance Charges (AMC) – There are no account maintenance charges for the trading account. However, for the demat account, the Upstox AMC Charges for the first year is ₹100 which includes taxes.
After the completion of the first year of account opening, AMC for the trading accounts will be ₹150 + ₹27 (GST charges) = ₹177 in total.
The above-mentioned charges get deducted from the trading account itself.
2. Upstox Charges for Hindu Undivided Family (HUF)
The charges for a trading account and annual maintenance charges for demat account remain the same for HUF – ₹177 in total (including ₹150 fees and GST of ₹27)
3. Upstox Charges for LLP
The combined charges for demat and trading account are ₹500 + ₹1000 = ₹1500
Exchange Turnover Charge = 0 Clearing Charge = 0.002% on Buy & Sell (Rs. 200 for every crore)
Following are some of the charges that are common applying to all the different segments where trading occurs:
GST charges – They are calculated by doing 18% on the sum of brokerage and transaction charges.
SEBI charges – These are charged as per ₹15 for every crore.
Stamp duty charges – These charges vary from state to state.
Other than all the charges described above, there are DP charges as well.
These are depository participant charges that need to be paid every time there has been a sale of shares and they have been credited from a trader’s demat account.
They are calculated by adding GST to₹18.50.
The GST is charged as per 18%. So, basically, the total depository charges become ₹21.83 for every stock.
In order to know the details of charges and brokerages applicable on all the transactions one makes in his / her account, Upstox brokerage calculator can be used.
Upstox Margin Trading Charges
Upstox provides the facility of margin trading. One can get 50% of his / her trade value up to a maximum amount of ₹5 lakh.
There is a facility available on Upstox called margin against shares. To avail this facility of obtaining extra margin for one’s trades, a trader can pledge his / her existing shares from the demat account.
There are some charges that the brokers charge for letting someone use this facility. In the case of Upstox, it is at ₹50 for every scrip.
If a trader does not square off his / her intraday trades or Cover or bracket orders before the auto square off timings, the trades would be automatically squared off by the system and a charge of ₹20 + 18% GST would be deducted from the trading account.
Upstox Charges for Call and Trade
One can place his / her orders by calling the designated phone number in order to trade at the rate of ₹20 + GST for every order that has been placed.
Upstox Offer for Share and Buyback Charges
One has to pay a flat fee of ₹50 for every offer for share or buyback offer one wants to be a part of.
Upstox NRI Charges
Upstox brokerage charges hit the roof at ₹200 per trade. In other words, an Indian resident client pays a maximum ₹20 per trade which is 10 times cheaper than what an NRI trader is going to pay.
These brokerage charges are going to be consistently applied across other trading segments.
Apart from that, other charges are going to stay the same. For more information, you can check this detailed review on Upstox NRI Trading Account.
Upstox API Charges
There are two types of APIs provided by Upstox to its clients and the charges of both the types of different based on the value provided.
Here are the details:
Interactive API: This API provides updates on orders, positions and holdings on a real-time basis.
Historical API: This API provides information on Open, High, Low, Close prices for different time intervals including 1 minute, 5 minutes, 10 minutes, 30 minutes, 60 minutes, 1 day, 1 week, 1 month.
As far as the pricing goes, the broker has monthly subscription charges for API usage. Here are the details:
Charges Per Month
Upstox Algo Trading Charges
There are no separate charges for using the algo trading facility at Upstox.
Upstox Withdrawal Charges
There is a specific fee set by RBI for any withdrawals done. The fee depends on the transfer mode used.
Here are the details:
Upto ₹1 Lakh
₹5 + Service Tax
₹1 Lakh to ₹2 Lakhs
₹15 + Service Tax
More than ₹2 Lakhs
₹25 + Service Tax
₹2 Lakh to ₹5 Lakhs
₹30 + Service Tax
More than ₹5 Lakhs
₹55 + Service Tax
Upstox Fund Transfer Charges
When it comes to Fund transfer charges, Upstox does not levy any amount on the discount broker.
However, you have to take care of that fact the margin cheque does not get dishonoured. Because, if that happens you will need to pay a penalty of ₹250 + GST.
These charges are non-negotiable and are mandatory to be paid.
Upstox is one the best discount brokers in India in terms of its account opening charges, annual maintenance fee, brokerages charged and leverages given.
As soon as a transaction is completed in a trading account, one needs to pay some charges to a broker through which the transaction is being made and some charges to the government.
One has to pay these charges irrespective of the segment one is trading in. They are applicable in equity, currency, commodity or derivatives market.
One should use brokerage available on the Upstox website in order to get complete details about different kinds of charges applicable to each transaction. One should use a margin calculator to know about the margin requirements for intraday trades.