Upstox Trading Software Review - Features and Demo
Upstox Track Record Of Best Online Stock Broker In India
Upstox Trading Software Review - Features and Demo
Upstox is the trading platform offered by RKSV. It is the popular discount broker that is a tech-first low cost broking firm in India. It provides the different trading opportunities at unbeatable prices. The company provides trading services in different segments i.e. equities, commodities, currency, futures, and options that are available on Upstox pro web and Upstox pro mobile trading platforms.
Upstox has significantly invested in technology. It provides an excellent trading platform and tools to its customers. This includes Upstox Pro Web, Upstox MF, Upstox Pro mobile, and Algo lab, etc. It also offers partner platforms like Nest Desktop, AmiBroker, Dart stock and Fox trader.
Upstox Trading Software
The key Unique Selling Point (USP) of Upstox is its advanced trading platforms. The company provides both its own and the partner platforms to the customers. The major trading and tools that Upstox offers are:
1. Pro Web (Web-based trading platform).
2. Pro Mobile (mobile trading application).
3. Algo Lab (bridge for AmiBroker).
4. Option Strategy Builder.
5. Order Generator.
The Upstox provides its customers the access to powerful third-party trading platforms like:
1. Dartstock (Desktop Trading Platform)
2. Nest Trader (Desktop Trading Platform)
3. Fox Trader (Desktop Trading Platform)
Let’s discuss all these platforms in detail.
a) Pro Web (Web-based Trading Platform)- It is a trading platform that is built using the HTML 5 technology. It can be accessed from any browser on a desktop, laptop or mobile. This platform also offers a range of features to the pro traders. These features will help the traders in analyzing their trades, knowing the pulse of the market and trading fast and securely.
Important features of the Upstox Pro Web Trading Platform are:
• The customer can create watchlists and keep track of the desired scripts.
• It has powerful charting features with 100+ technical indicators in it.
• It makes fast order placements with Bracket Orders (BO) and Cover Orders (CO)
• The customer can pre-set their order preferences & quickly place orders during highly volatile times.
• The customer can customize workspaces and use widgets to personalize the trading experience.
• The customer has access to various reports.
• The customer can view and monitor their portfolio.
• It provides keyboard shortcuts for faster and efficient trading.
• It provides access to the Upstox mutual funds platform.
• The notifications & alerts helps in keeping the customer notified about their trading and account details.
The customer can see the demo of using Upstox Pro Web platform by using the steps below:
1. Visit the Upstox website.
2. Click on ‘Products and Tools’ on the top menu.
3. Click on the Pro web page, and choose the ‘Try Live Demo’ option to watch and try other features of the demo.
b) Upstox Pro Mobile Trading App- It is the Pro Mobile trading application by Upstox. It is an in-house build application by Upstox. The app provides mobile trading in different segments including stocks, derivatives, currencies, and commodities across NSE, BSE, and MCX exchanges. The customers can easily download this application free of cost and become location independent in trading. This application is available on both Android and iOS devices.
Features of the Upstox Mobile application:
1. The customer can place, buy and sell orders on the move.
2. It has the universal search tool to find desired stocks and contracts.
3. It provides access to multiple segments including NSE cash, F&O, and currencies.
4. It has advanced charting tools with 100+ technical indicators.
5. It provides the facility to trade from the charts.
6. It creates the customised watchlists.
7. It gives price alerts on set scripts.
8. It provides access to real-time market feeds.
c) Algo Lab (Bridge for AmiBroker)- It is designed and introduced for the traders who use AmiBroker AFL to write trading strategies and algorithms. They can easily integrate AmiBroker AFL with the Upstox trading platforms. They can also place their trades directly from AmiBroker. A dedicated panel on Upstox Pro Web and mobile is available so that the customer can view, place and modify orders sent from AmiBroker.
Moreover, there are 2 additional plugin tools that are available with Algo Lab are- Interactive and Market Feed.
Interactive- It facilitates in receiving order signals from AmiBroker to Upstox. The other features include:
• Receiving notifications whenever your strategy on Amibroker AFL triggers on an order.
• Viewing and managing the orders and positions from the same screen.
• Modifying and placing orders.
• Viewing the alerts organized by time, with the latest one placed on top.
A monthly fee of Rs. 500 is charged, if the customer wishes to add an Interactive plugin to Algo lab.
Market Feed- It gives the traders access to real-time OHLC (open-high-low-close) and EOD data. The other features are:
• You receive the real-time EOD data of NSE Equity and NSE F&O Segment.
• The data is 100 % adjusted for the corporate actions.
• It gives you access to Intraday historical data for three months and EO historical data for 12+ years.
A monthly fee of Rs. 990 is charged, if the customer wishes to add the market feed plugin.
d) Upstox Option Strategy Builder- It is designed for Futures & Options (F&O) traders. It allows you to build different Option and future products. You are required to select 'Products' and 'Instruments' and based on your selection the tool will provide you with all the critical information. The information will be like the margin required for the strategy and the payoff graph required to analyze the strategy. This will help the customer in making an informed decision.
How does Upstox Option Strategy Builder Works?
1. Open the Upstox Option strategy builder and choose an exchange and ticker i.e. Stock name.
2. Select the segment (F&O), Expiry date, Side (Buy/sell), Type (Call/ put for Options) and the quantity.
3. The customer can add multiple instruments in a single strategy.
4. The tool will help you in generating the total margin requirements along with the complete breakdown of various margin types like Span, Exposure etc.
5. The tool will generate the Payoff graph highlighting the payoff at various price points, break-even points, Profit & loss values and zones.
e) Upstox Order generator- It is a simple tool that creates an order and shares it with the customer’s friends. It is useful only when the customer wishes to discuss his trading ideas with others and take their opinion.
The Upstox Order Generator is available on the company’s website. It is a simple to use web-based tool.
Steps to access this tool are:
1. Visit the Upstox website.
2. Click on ‘Products and Tools’ from the top menu.
3. Click on ‘Order Generator’ present under the ‘Tools and Calculators’.
Upstox Partner Platforms
Upstox provides its customers the access to the partner platforms along with its own online trading software. The three partner platforms are as follows:
a) Dartstock – It is a desktop trading platform and Upstox has partnered with iDarts. This is to offer the customers the range of features so that they can identify trading opportunities, analyse each stock and trade efficiently and effectively.
Key features of Dartstock are:
• It provides the times and sales filter to scan the markets with the filters like Quantity, Sector, Index and much more.
• It has a live scanner to scan the markets for scrips with highs and lows for the days, week, month and year.
• It includes Trend scanner to spot the bearish zones and monitor the changes in the Open Interest of options.
• It has Opportunity Finder to find the scripts that fit with the criteria of three that have PE Ratio, Market Cap, Traded Volume Turnover and 1-year return etc.
• It provides special watchlists for the resistance and support watch, Intraday recovery, High trade volume stocks and fall scripts.
• It also contains advanced charting tools with Intraday history and daily historical data.
b) Fox Trader- This is again a desktop trading platform but is chargeable. It allows the traders to analyse the market fluctuations with multiple charting tools, back test the strategies and improves the trading experience.
Key features of Fox trader are:
• It provides an easy back testing with 300+ studies and 200+ conditions to analyse the past data.
• It has the live scanning feature to monitor the markets in real-time.
• It helps in running the strategies on charts and scanners.
• It helps in automating the strategies with an API.
• It helps in viewing and monitoring the current positions and P&L.
• It automates the trailing stops and stop levels.
This feature is chargeable and the trader needs to pay if he is willing to use this platform.
c) Nest Trader- This is also a desktop trading platform. It is owned by Thomson Reuters and is one of the famous trading platforms in India.
Key features of Nest Trader are:
• It has a customisable interface with different layouts, fonts, colours, and much more. It is to customise as per the needs of the trader.
• It provides the fast streaming data facility with the quick refresh rates.
• It has the stability at high loads.
• It provides the facility of streaming data to multiple monitors.
• It has advanced charting that carries multiple chart types with 60+ indicators.
• It contains advance order types like Cover Order (CO) and Bracket Order (BO).
• It provides fully customisable hot keys for faster and efficient trading.
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 email@example.com. 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 firstname.lastname@example.org. 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.