Upstox Mutual Funds Review - Charges and SIP
Upstox Track Record Of Best Online Stock Broker In India
Upstox Mutual funds Review - Charges and SIP
Upstox is a discount broker company that offers various mutual fund schemes from almost 28 houses. All the schemes that are offered on the Upstox mutual fund platform are regular schemes. To offer mutual fund services the broker does not charge any transaction and brokerage fee. There are more than 2,000 mutual fund schemes from multiple fund houses.
Different Asset Management Companies (AMCs) have the different minimum investment requirement at the Upstox MF. The customer chooses multiple schemes from different fund houses to diversify the portfolio that can bear the market fluctuations.
The Upstox Mutual Fund platform offers regular mutual fund schemes. It provides the facility of investing in either through SIP or lumpsum mode of investment. This platform has easy and fast account opening services. The customer is free to choose from multiple funds in order to diversify the portfolio for the higher returns. It provides mutual fund categories as per the risk appetite of investors. It provides the search filters and performance details to view potential returns of mutual funds.
Mutual Funds Account Opening
To avail the mutual fund services, a customer does not need to open a separate account for mutual fund investments. Once you open a demat account with Upstox, a mutual fund option automatically opens for the customers. If you already have an Upstox demat account, then you can directly use it to start investing in mutual funds.
Here are the steps to access the Mutual fund platform:
1. Visit to the official website of Upstox and choose Mutual Funds under the Products Tab.
2. Login to Upstox Mutual fund platform with Upstox Pro unique Client code and password.
3. Now you can access all the mutual fund schemes available on the platform.
4. The balance available in your securities account can be further used to purchase mutual fund units.
5. The customer can choose either “Start SIP” for SIP or “Buy Fund” for lumpsum investments.
Upstox Mutual Funds Platform
It offers a web-based platform that makes mutual fund investing easy for its customers at a very low-cost. It is completely a free platform to invest in mutual funds. It does not provide any recommendations on mutual fund investment schemes. Each and every scheme available on this platform is open-ended; that means there is no restriction on the number of units purchased in the mutual fund.
Steps to start investing in mutual fund through Upstox MF platform:
1. Open the official website of Upstox and click on the Upstox MF platform under “Products & Tools”.
2. Login to Upstox MF with the Client Id and password.
3. Search the schemes available from “Search Funds” on Upstox MF platform.
4. Select the scheme and enter the amount you are planning to invest.
5. Add the Mutual Fund scheme to your MF account.
6. You can click on “Start SIP” for SIP or “Buy Fund” for the lumpsum purchase.
Mutual Fund SIP
A systematic Investment plan (SIP) is an organised and disciplined way to invest in a certain amount at regular intervals to fulfil your financial goals. It is compulsory to send an ECS mandate to Upstox, if you are investing for the first time from the Upstox mutual fund platform for SIP. A bank ECS mandate permits the automatic deduction of the SIP amount at a particular interval from your bank account. It depends on the bank now; it may take 15-20 days to get the ECS mandate approved.
Advantages of investing in SIP at Upstox Mutual Fund
1. A little amount of money is needed to invest at each interval.
2. A regular saving and investment habit is generated within you.
3. It protects from the extreme market volatility condition and gives rupee cost averaging benefits.
4. It helps in creating wealth or completing a financial goal over a long-term horizon.
What are the steps to start Upstox Mutual Funds SIP?
It is very easy to invest in a mutual fund through SIP on the Upstox Mutual fund platform. To start a SIP, follow the below mentioned steps:
1. Login Upstox Mutual Fund platform.
2. Search the scheme name on the MF dashboard.
3. Choose the fund and enter the amount.
4. At last, click on “Start SIP” and choose the details.
Your account will be auto-debited to invest in SIP at regular intervals depending on the interval you have chosen. It is important to maintain the required balance in the linked bank account to stay invested through SIP.
Upstox Mutual Funds Charges
Upstox Mutual Fund Account Opening Charges
Upstox Mutual Fund AMC Fees
Upstox Mutual Fund Transaction Charges
Upstox Mutual Fund Commission
1% to 1.25% a year
Upstox Mutual Fund DP Charges
Buy - Nil; Sell - Rs.18.50
Frequently Asked Questions
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.
The Account opening is free. But if you pay Rs.149, you will get a brokerage credit worth Rs.250 with the validity of 30 days.
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”.
Upstox is an online broker and a POA is compulsory during the account opening. This is done in order to keep your information safe and secure.
There is no limit of how many banks accounts you can link with Upstox. One bank account will be marked as the primary account and rest of them will be marked as the secondary bank accounts.
The monthly maintenance charge for the demat account is Rs.25 (excluding GST). This amount will be charged at the end of every month.
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.
Upstox core services does not include providing trading or stock tips. As an online broker, Upstox believes in keeping costs as low as possible.
There is no minimum balance that you are obliged to maintain in an Upstox Mutual Fund account once after the first time when you purchase the SIP.
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.
One of the major advantages of having trading account with Upstox is their low-cost structure. As a result, they do not provide any RM (Relationship Manager) services, even in Mumbai.
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.
Yes, the account opening in Upstox is free with a ₹249 prepaid brokerage plan. Currently the company does not charge any account opening fee for the individual trading accounts.
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.