Upstox (which was earlier known as RKSV securities) is a low-cost broking firm, whose main motive is to provide trading opportunities at unbeatable prices. It is being backed by a group of investors like: Kalaari capital, Ratan Tata and GVK Davix.
It provides many more rich trading features like trading, analysis, charter and etc. It provides ease to place orders through phones and browsers. It provides completely free trading account and free trading as well in Equity Delivery Segment.
Upstox also provide some other services like Equity Intra-day, commodities and currency derivatives which can be availed through Upstox Pro. It is a paid software which has some additional features.
Complaint against Upstox Broker
The Upstox brokerage complaints report gives the detailed report about the number of complaints received by the stock exchanges. It analyses the complaint reports online on the basis of data provided by BSE and NSE. This report determines the health of the broker.
Such complaints are serious grievances that are recorded and the customer and the company were unable to resolve these issues. This made the customers to file legal complaints with the stock exchange. The Upstox complaint number report provides the number of active clients. It also shows the growth of the broker by each passing year.
The table below shows the complaints registered in the passing years till date:
A stop-loss order is an order placed with a broker in order to buy or sell a specific stock once the stock reaches a certain price. A stop-loss is designed in order to limit an investor's loss on a security position.
While carrying Intraday orders, we trade using margins and thus the trade goes in loss showing the negative balance. It will show the negative balance till the time we square off our trade or their RMS team do so. Your AMC might be deducted and this is the reason why it shows negative balance.
Rs.20 brokerage and 15x intraday margin are the most suited for a new trader. Whereas, the Priority plan is best for the experienced traders who require higher (20x) leverage. The brokerage charges (Rs. 30 per trade) are also higher under the Priority Plan.
The Upstox has pioneered the low-cost brokerage model. Thus while trading with Upstox, equity delivery trades are free of cost. For intraday trading on BSE, NSE and MCX and F&O. It is 0.05% or up to Rs. 20 per order traded.
The Upstox provides three trading platforms. There is Upstox Pro web that you can access from your favorite browser. The other software Upstox Mobile which is available on both Android and iOS will help you in trading on the go.
Upstox runs a partner program wherein you can become a sub-broker and start referring customers from your network. You can earn commissions when they trade. You can receive earnings in two ways in this program either earn a part of the brokerage paid by your referrals or earn incentives for referrals when they open an Upstox account.
You can withdraw money from your Upstox account directly from the application. You go to the balance section of the app and choose to “withdraw funds” from your securities or commodities account. Once after selecting the account, click on the “withdraw” screen. Now enter the amount you want to withdraw and click on “submit”.
The trading with Upstox is completely safe. The company started offering its services in 2012 and since then it has grown exponentially. It has lakhs of trusted customers and over 5 lakh customers traded in January 2020. This made it rank as the second largest discount stock broker in India.
The company is registered with the SEBI, BSE, NSE, MCX, CDSL and NSDL. It is regularly audited by the exchanges and no violations have been noticed so far. The company is backed with the leading investors like Ratan Tata, Tiger Global and GVK Davix.
The client can freeze his account in case he does not wish to do any transaction in the near future. This helps in curbing the unauthorized use of demat account & prevention of frauds. The account will be de-freeze only on the instructions of the account holder.
To reactivate your Upstox account, all you need to do is to fill the reactivation form and email it to us at firstname.lastname@example.org. You also need to send a bank statement of the last three months that have been self-attested. Once after we receive this, your account will be reactivated within 24–48 business hours.
You can upgrade your Upstox account by just sending an email from the registered email Id to email@example.com. Remember to keep the subject line "Request to change brokerage plan." Make sure that you mention your Name and UCC in the email. The request for changing brokerage plans will be processed in 24-48 hours during business days.
The Trigger price in Upstox is the pre-set price on a buy or sell order in trading. The order here is a special order such as a “stop-loss order”, a “take-profit order”, “bracket order” and a “cover order”.
The withdrawal of money procedure is an online process. Thus, every request is processed within 24 business hours after the trading day has ended. The Upstox staff get notified of your withdrawal request and hence they process all withdrawals once at the end of each day.
In order to change your phone number in the Upstox account, you will have to open an online service request.
To change phone number in Upstox, follow the below mentioned steps:
a) Go to www.upstox.com
b) Click on 'Sign in' > 'Dashboard'
c) Login to the dashboard (Upstox back office)
d) Choose and click on the 'Service Request' box
e) Then, click on 'Change your Mobile Number"
f) Enter the new phone number and verify the OTP.
Once after the request is submitted, it will be processed in 24 to 72 hours.
Upstox is not a listed company. It is a privately owned company run by the promoters of the company including Mr. Ravi Kumar and Mr. Shrinivas Viswanath.
Four major investors that include Mr. Ratan Tata, Tiger Global Management, GVK Davix and Kalaari Capital Partners invested in this company.
The “Validity in Upstox” means the tenure or period for which a placed order is valid. The price of a stock moves up and down on a regular basis and thus the order is executed only when the matching price is available.
If you are deciding to close your account then you can delete it, then you can delete it. Upstox does not charge any fees to close your demat or trading account. Just make sure that all your dues are clear and transfer all existing securities from your Upstox demat account.