The worst thing that happened to me at Upstox was that, compared to other discount brokers, their brokerage is excessively high. It is preferable to use bank demat accounts if we must pay $20 per trade, even for each order that is bought and sold. like HDFC Sec, SBI Sec, ICICI Sec. Customer support is at worst leval. I have no rating for customer service because they just ask you to record a video and send it to them if you have any problems. It doesn’t matter if you can send a video or not. App user interface is also not friendly. its very complicated. after being frustrated i have closed demat account of Upstox.
It is worst portal, never trade and use Upstox. Regretfully, my father utilized the account for investments; they kept the funds and never offered assistance in resolving the problem. Use Groww or Zerodha. Worst experience ever!.
Such a disaster it is. They cannot even unsubscribe a phone number from their system. I tried signing up years ago, and I detest that they now harass me every day via text message on my private number to finish the sign-up process. When I called, emailed, or chatted with their customer service representatives, they were unable to comprehend even simple English. They said there is no way for them to take my number down. Im planning to got to consumer court.
I spent a long time getting traffic to my affiliate link by promoting it on numerous platforms. When my first three friends joined, it was updated immediately within a day. However, a few weeks later, when my friend signed up using my link, it was still not updated. I tried again with another friend, and it was still not updated. At that point, I called customer support for the fifth time, but they were unable to assist me. very poor service plz dont go for this . i hope this company is shut down .
1. Monthly account maintenance charge was levied in Upstox earlier. This implies that you were required to pay Rs in the month that you traded. 25 + GST for the same month. However, since the implementation of QMC (quarterly), whether you trade or not, you must pay Rs 75 per quarter. 2. Upstox is no longer a trustworthy broker; it does not operate as advertised. Upstox can change the policy anytime for his own benefit. 3. Although I am an official Upstox partner, I prefer not to use the term “Upstox” to denote the following: 1) Modify the rules whenever you see fit for your personal gain 2) Do not live up to your word. 3) unreliable sources. 4) Referral and advertising company instead of broker. 4 Their customer support is very poor. Response time is too long. “Upstox is no longer a reliable source. Perhaps it would have been wiser to allocate a larger portion of your funds to customer support as opposed to advertising.
It’s great that upstoxmarket can help people become wealthy in the long run.
This is by far the best platform I have used if this is the trading platform for India. Simple to trade and learn about margin and profit
Upstox is a discount brokerage firm based in India that has gained significant popularity in recent years. It offers a user-friendly platform for trading in stocks derivatives, mutual funds and other financial instruments. However, as with any online platform, concerns regarding its safety and reliability are inevitable. This article aims to provide a comprehensive analysis of Upstox, exploring its safety features, customer reviews, and overall reputation to help you determine if it is a trustworthy platform for your investment needs.
Safety Features
Upstox prioritizes the safety of its users by implementing robust security measures, including:
- Two-factor authentication (2FA): This additional layer of security requires users to enter a unique code received on their registered mobile phone in addition to their password when logging in.
- 128-bit SSL encryption: All data transmitted between users and Upstox servers is encrypted using 128-bit SSL technology, ensuring its confidentiality and protection from unauthorized access.
- Regular security audits: Upstox undergoes regular security audits by independent firms to identify and address any potential vulnerabilities.
- Segregation of client funds: User funds are held in segregated accounts with partner banks, ensuring they are not used for any other purpose and are protected in case of unforeseen circumstances.
- Compliance with regulations: Upstox adheres to strict regulatory guidelines set by the Securities and Exchange Board of India (SEBI) and other relevant authorities.
Customer Reviews
Upstox has received mixed reviews from its customers. While some users praise its user-friendly interface, low brokerage fees, and excellent customer support, others have expressed concerns regarding occasional technical glitches, limited research tools, and issues with order execution.
Trustpilot Reviews
On Trustpilot, Upstox has an average rating of 3.1 out of 5 stars, based on 71 reviews. 42% of reviewers gave it a 5-star rating, while 50% gave it a 1-star rating. Positive reviews highlight the platform’s ease of use, low brokerage fees, and responsive customer service. Negative reviews mention technical issues, high charges, and poor customer support experiences.
Quora Discussion
On Quora, a question regarding Upstox’s safety has received several responses, with mixed opinions. Some users vouch for its safety and reliability, citing its security features and regulatory compliance. Others express concerns about its customer service and technical glitches.
Overall Reputation
Upstox has established itself as a prominent player in the Indian discount broking industry. It has received recognition for its innovative features and user-friendly platform. However, concerns regarding customer service and technical issues have also been raised.
Based on the available information, Upstox appears to be a generally safe platform for trading and investing. It implements robust security measures and adheres to regulatory guidelines. However, it is essential to consider the mixed customer reviews and potential drawbacks before making a decision. It is recommended to conduct thorough research, compare different platforms, and choose the one that best aligns with your individual needs and risk tolerance.
Additional Considerations
- Upstox offers a range of educational resources and tools to help users learn about investing and trading.
- The platform provides access to research reports and market analysis from reputed firms.
- Upstox has a mobile app available for both Android and iOS devices, allowing users to trade on the go.
- The company offers various investment options, including stocks, derivatives, mutual funds, and exchange-traded funds (ETFs).
Disclaimer:
This article is for informational purposes only and should not be considered financial advice. Investing involves inherent risks, and it is crucial to conduct your own due diligence before making any investment decisions.
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What if Zerodha or Upstox Runs Away? What will happen to your Money & Shares in Demat Account?
Does upstox charge brokerage?
Every time you place an order on Upstox, you may be charged brokerage and a few other charges. Here’s a breakdown of them all Types of charges Upstox fee Brokerage – Brokerage is levied by Upstox on each order placed. Upstox has a flat fee structure and brokerage charges have an upper ceiling of ₹20 /order for all segments.
How much does upstox cost?
Upstox charges a fee of Rs.20 for stock deliveries, unlike the other brokerages which charges zero. Upstox only comes with margin against share option, and not with the margin against funding option. The platform doesn’t support unlimited monthly trading plans. Chargers Rs.20 for every call-and-trade executed order.
What are the disadvantages of upstox platform?
Now let’s know about the disadvantages of the Upstox platform! Upstox charges a fee of Rs.20 for stock deliveries, unlike the other brokerages which charges zero. Upstox only comes with margin against share option, and not with the margin against funding option. The platform doesn’t support unlimited monthly trading plans.
Why should you invest in upstox?
Upstox is backed by leading names in the industry like Ratan Tata, Tiger Global, and GVK Davix. Investments by such names in a company mean 2 things, one that the investors have high confidence in the management of the company, its corporate practices and second that the company has the potential to grow.