Is Upstox Safe? Pros, Cons & Detailed User Reviews

is upstox safe

Trading on online stock platforms can be both exciting and adventurous, as you navigate through the complex sphere of financial markets. While in search of finding a good trading platform among many of them is still a major challenge, one of the platforms among many is Upstox. But here also the question comes up – Is Upstox Safe? What are the pros which will get on using or what are the disadvantages will face on using it. Really a complex question !

Upstox pros and cons

Safety on trading platforms isn’t just about the money or the capital you earn or have invested , it is about the experience and features or the benefits that encourage you to navigate and stick to that trading platform and explore the dynamics of the financial world. 

Let’s dive into the discussion: is Upstox safe?

Is Upstox Safe?

Upstox eliminates the need of having a physical broker or need of a hefty amount of commission in order to get good trading options or stocks. Upstox is an online brokerage firm and a trading platform that allows seasoned and budding traders/users to navigate, buy, or sell through various available options of stocks, commodities, derivatives, services, etc. The platform believes in zero brokerage firm, one of the standing features among all platforms.

Upstox trade and stock platform

Is Upstox Safe?

Upstox is a SEBI (Securities and Exchange Board of India) registered platform, where the biggest of the business as well as industrialists have invested their money, like Ratan Tata, Tiger Global have invested in upstox. They also have their stocks registered with stock exchanges like NSE and BSE. 

Since its inception, Upstox has grown considerably with time, presenting new innovations and technologies on their platform. It is considered as one of the best trading platforms after Zerodha. The thing to notice is that it is backed by major and prominent investors like Ratan Tata, GVK Davix, and Kalari Group.

Note: We have already explained the business model of Upstox. To know more about it and acquire more knowledge of it do visit our article What is Upstox? Business model explained. Check it out once!

Some key safety aspects

Account Security: Upstox employs a pile of layers to protect their users account, and will not release information and details to any third party. Their apps are protected and include two-factor authentication (2FA), which provides strong authentication to the user’s account. It also uses layer technology to protect unauthorized access to  data information.  

Account regulation: The stocks, various financial authorities, trading options on the platform includes SEBI regulation, and NSE regulation. This acts as a crucial factor in the reliability of the Upstox platform. 

Transparency: The stock prices and trading options with competitive prices are kept transparent to the user. Also the information and data are safely secure with the platform, and will not distribute it to any third party over the internet or the e-mails.

Upstox account feature

Protection of Accounts & Funds: As registered with SEBI, the details and information of the accounts are kept safe according to the guidelines by SEBI. They work closely with the audit agencies and exchanges for the safeguard  of accounts and funds details. 

Upstox keeps implementing security measures and new technology to safeguard its platform, and to provide good user experience on their platform. Upstox is also leading its way to the profitable factor, by keeping low cost, no offline branches, prioritizing customer services, also by implementing technology to enhance user navigation.

Pros & Cons of Upstox

Let’s get started with the Pros of Upstox first!

PROS

  • As it is a zero brokerage firm, it applies no charges for account opening.
  • For segments like delivery, intraday, and F&O, it charges flat Rs.20 for per trade brokerage. 
  • Provides advance order types like AMO, CO, SL, and GTT.
  • Comes with a mobile app, that means users can execute their stocks and orders while on the go.
  • Its AmiBroker feature helps users to code and execute trading strategies by using the AmiBroker AFL editor.
  • Backed by highly trading investors and industrialists like Ratan Tata.
  • Zero demat account opening charges.

Safe upstox account

  • Upstox provides margin trading facility that is available at an interest rate of Rs.20  per day for slabs of Rs. 40,000. 
  • Makes options available for margin against share.
  • The upstox option chain tool helps users to find out future prices, comparison of rates, interest, stock performance, etc.
  • The MF platform feature of upstox offers customers with 1000s of mutual funds to invest in.

Now let’s know about the disadvantages of the Upstox platform!

CONS

  • 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.
  • Do not provide API access for automated trading.
  • Upstox does not provide tips or recommendations for stocks.

Upstox company

  • Like some of the other platforms, upstox does not provide the 3 in 1 account services.
  • Do not offer the facility of NRI trading. 
  • For account settlement upstox charges Rs.20 additional for every executed order. 
  • Good till canceled orders i.e, GTC are not provided in the delivery segment.

It is crucial to understand the experience of users on the platform, as it varies from one to another. Many find it appreciable and according to their financial needs, while some disagree with the platform, and report issues with it, like technical glitches, service delay etc.

Summing Up 

Upstox offers a wide platform that compromises stock prices, trading options, investment options, services, etc. but its suitability depends vary from user to user. As seen above , upstox prioritizes security for its platform through different means, that includes regulatory compliance, technology innovation, authentication factor, etc. 

However, it is essential to note about the pros and cons of the platform, while considering investing in it. So, look into these points as it can act as a helping guide before using the platform.

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Published By: Aashita Singh
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