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Upstox is a discount stock broker 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.
As per the latest records, Upstox has an active client base of 81,166.
Upstox Complaints Review
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 complaint count is 52 in number and it has been able to resolve 100% of the complaints.
- For the year 2019-20, Upstox complaint count is 80 in number and it has been able to resolve 90% of the complaints while 10 are left to be resolved.
Above all the most common complaint raised by the user is why Upstox not working today and thus it is good to consider all the things before you open an account with the firm.
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.
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More on Upstox:
Here are a few reference articles for you in case you are looking to know more about this discount broker:
my payment is deducted from my bank account but you are not active my demat account yet
Upstox company very frod and cheering company any one no opening account this is my expriyance
The company is totally fraud and cheat fund company which deduct money from my bank account but doesnot opened my account.Giving various excuses.
When asking for refund they gave excuses they cannot give.
I Gave my wife detail again they create excuses to engulf teh amount of the people.
a complete cheat fund company
Unauthorized debit in account 220133, when enquired the plan FREEDOM PLAN does not exist and stopped long back, but NO REFUND, doubtful all my money will be debited in similar fashion one day due to similar system glitch and no refund????
Idiots team. Cheating broker.my account not open but 531 RS detection. Pl refund.
Extremely poor service, no co-ordination among the support team, everyone tells their own reason for not doing the job, liers.
Waited for more than 3 months for online account opening, whatever is said in the site is false.
Worst platform i ever seen
I tried to create an account on 23 may i even paid the app charges but till today my account is not created
Customer care services is not replying even agents which are assign to assist me are not replying nor receiving my calls
Worst customer care services experience which i ever had in my life
I tried to open my account on 23 may but till today my account is not been activated
I even paid the account opening charges but since my account is not been activated i ‘m asking for refund and they are not ready for refund also and not ready to solved my issues