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Upstox
29.4.26
Upstox
Upstox Review for traders in India: SEBI-regulated, Tiger Global-backed discount broker with 13M+ clients
Upstox is Zerodha's strongest challenger — SEBI-regulated, backed by Tiger Global and Ratan Tata, with a fast and reliable platform especially popular among F&O traders. Competitive flat fees and a strong mobile experience. The trade-off versus Zerodha is slightly less depth in advanced tools, but the difference is narrowing rapidly.
Consensus Rating
The rating evaluates 42 key factors, from regulation and costs to execution, product offering and support. The score combines analysis from multiple experts and competitor comparisons to provide an aggregated and balanced assessment. This reduces individual bias and offers a more reliable reference for broader market consensus.
Alternative Provider
AvaTrade
India has a large and growing retail trading community with a strong appetite for global markets. AvaTrade's 1,260+ instrument range — including vanilla options and futures alongside standard forex and CFD products — gives experienced Indian traders more to work with than most offshore alternatives, and the AvaTradeGO app handles mobile access cleanly.
Upstox is one of India's leading discount brokers, regulated by SEBI and backed by Tiger Global and Ratan Tata. Founded in 2009, Upstox offers equity, derivatives, commodities, mutual funds, and US stocks at competitive flat-fee pricing. Its modern mobile app and web platform are known for speed and reliability, particularly for active traders and F&O enthusiasts. With over 13 million clients, Upstox is a major competitor to Zerodha in the discount brokerage segment.
Available locally?
Foundation
2011
Minimum Deposit
INR 0
HQ
Payment Methods
Regulators
SEBI
Trades at the Stock Exchange?
❌
How to Open an Account
1. Go to the official website >
Visit the app's official website (or download it from the App Store/Google Play) to get started from a trusted source.
2. Open an account
Register, enter your basic information, and set up secure login. If available, enable two-factor authentication for extra protection.
3. Verify your identity
Complete the verification process with the required documents, such as an ID card or passport, and proof of residence (e.g., an electricity bill or bank statement).
4. Add funds
Choose how to use the service: bank transfer, card, or linked account (depending on the app). Check fees, limits, and processing times before confirming, as they may vary.
5. Make your first transaction
Find the function you need in the app, set the amount or limit (if applicable), and confirm.
Advantages
Costs
Transparent Fee Structure
Fees, spreads, and commissions are clearly disclosed.
Regulation & Trust
Investor Compensation Scheme
Compensation program available if the company becomes insolvent.
Trading Platform & Execution
Fast Execution Speed
Orders executed quickly with minimal latency.
Regulation & Trust
Clean Regulatory Record
No significant regulatory penalties or violations reported.
Regulation & Trust
Segregated Client Funds
Client funds kept separate from company operational funds.
Market Access
Futures Trading
Futures contracts available.
Costs
Commission-Free Trading
Some instruments can be traded without paying commissions.
Costs
Low Trading Fees
Competitive costs help reduce overall transaction expenses.
Research & Education
Free Educational Materials
Educational content such as guides, tutorials, and courses available.
Market Access
Stock Trading
Individual company shares available for trading.
Disadvantages
Regulation & Trust
Less than 5 Years in Business
Limited operating history and short track record.
