Upstox is an online investment brand of rksv securities which incorporated in 2009. It offers a fast, reliable, and easy-to-use trading platform for traders in the Indian stock market. It also offers low-cost trading services. This company has significantly invested in technology and provides excellent trading platforms and tools to its customers. In this article, we will tell you about the Upstox Pro app Review in detail, So read the full article to get the complete details about Upstox and the review of this trading platform so that you will get answers to all your doubts.
About Upstox Pro App
The Upstox Pro app is a free mobile trading application that is available for Android and iPhone. The customers of Upstox can download the app and trade at BSE, NSE, and MCX from anywhere. This app offers a wide range of features like the market watch, live stock quotes, advanced charts, scanners, and more. It is one of the highest-rated trading apps on the App Store. It allows you to open Upstox trading and Demat accounts online and the process of opening an account by using the app is paperless.
The trading account gives you access to stock exchanges like NSE, BSE, and MCX while the Demat account is used to hold securities like stocks, mutual funds, etc. in electronic forms. This account allows investors to invest or trade in stocks, equity derivatives, currency, and commodities and also offers online mutual funds in a lump sum or SIP way.
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Key Facts about Upstox pro app
The following are some key facts about the Upstox Pro app:
- It is the second-largest discount stockbroker.
- It has over one lakh customers and Rs 15 crore daily turnover as of November 2018.
- It offers low-cost brokerage services since 2019 and has trusted and reliable services.
- It is a registered member of SEBI, BSE, NSE, MCX, NSDL, and CDSL.
- It offers a simple flat-rate trading plan at the rate of Rs 20 per executed order.
- It offers up to 20x leverage in intraday.
- It has a paperless instant account opening in less than 1 hour.
- It has an in-house build trading platform that is available for free to all its customers.
Features about Upstox pro app
Upstox Pro App offers many features to its customers which include:
- You can buy and sell orders on the move.
- It has a Universal search tool to find desired stocks and contracts.
- It gives you access to multiple segments including NSE cash, futures and options, and currencies scripts.
- It has advanced charting tools with 100 + technical indicators.
- It has a facility to directly order from the charts.
- It creates customized watchlists.
- You can get price alerts on set scripts.
- It gives you access to real-time market feeds.
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How to use: Ways to Use Upstox Pro app
Upstox Pro app is available to use for both Android and iPhone users. Upstox customers can use it for multiple tasks. The following are the ways to use the Upstox app:
- You can open a paperless Demat account.
- You can invest in stocks and an ETF.
- Trade Equity Derivatives (F&O) at BSE and NSE.
- For Trade Commodities at MCX.
- You can transfer funds from and to the trading account
- For Stock Analysis
- You can check reports like orders, holding, and open positions.
How to withdraw fund: Steps to withdraw fund
You can withdraw funds from Upstox by putting in a withdrawal request. The withdrawal request can be submitted from its trading software that is Pro web or Pro mobile and this facility is not available in its back-office that is dashboard or keystone. The mentioned below are the steps to withdraw from the Upstox trading account:
- Firstly open Upstox Pro mobile app
- Log in with your client ID and password
- Now click the Rs balance link on the top right
- Choose ‘securities’ or ‘commodities’ account
- Then click the withdraw funds button
- At last, enter the amount and click the withdraw button.
How to transfer money in the Upstox Pro app?
Upstox Pro app offers many options to transfer money from your bank account to the trading account. The following are the available options to transfer money in Upstox:
       Using Net banking
1. First login to your trading account
2. Now go to the Add funds section
3. Here choose the account which you wish to use
4. On the portal of the bank website, log in with your net banking ID and password
5. Click confirm
       Using UPI
1. Add Upstox as a beneficiary
2. Email your valid bank statement in JPG or PDF format which clearly shows your bank account number, name, and transaction reference number to support@upstox.com.
      Using NEFT/ RTGS
For this, you have to add the Upstox bank account details as a beneficiary and then transfer the funds from net banking using NEFT or RTGS.
     Using Cheque
1. Write a cheque in the name of ‘RKSV Securities India Pvt Ltd’ for securities and ‘RKSV Commodities India Pvt Ltd’ for commodities.
2. Now send a photo of the cheque to support@upstox.com.
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How to buy an IPO through the Upstox Pro app?
The customers of Upstox can buy IPO through Upstox by using UPI as a payment method and this process of online IPO application is very simple, quick, and convenient. The following are the steps to buy IPO through Upstox:
- First login to your Upstox Pro web Or Upstox mobile app
- Click on your customer number and customer ID on the top right
- Now click on apply for IPO link
- Select IPO, you wish to apply by clicking the details button
- Go to the bottom of IPO detail page and click the ‘place bid’ button
- Now enter UPI ID and choose an investor type
- Enter your order quantity and price
- Choose the cutoff price checkbox is applying in the retail category
- Review and place your order
- At last, approve the notification received on the BHIM app in 2 to 12 hours.
How to cancel a Demat account?
You can cancel the UpstoxDemat account by filling out a paper form and sending it to the company’s office. This form is available on the Upstox website at Support > Form downloads on the top menu. From here, download the form and print it. Then fill the form and courier it to the registered address of the company along with unused DIS slips to close the Demat account.
What are the charges to transfer funds to a Upstox account?
There are two types of charges offered to transfer funds to Upstox account from the Bank:
- Instant fund transfer cost Rs 7 per transaction.
- Depositing via NEFT Or RTGS is free but it takes 4 to 5 hours.
FAQs
1. Is the Upstox app backed by Ratan Tata?
Ans. Yes, Upstox is an online discount stock broker which is backed by funding from Mr. Ratan Tata as he held a 1.33% stake in the company as of January 2020.
Other Upstox investors include:
Tiger Global Management- 31.1% stake
Kalaari Capital Partners- 15.21 % stake
GVK Davis Technologies- 2.54% stake
And the remaining 50% stake is with the promoters of the company including Mr. Ravi Kumar and Mr. Shrinivas Viswanath.
2. Is Upstox safe?
Ans. Yes, Upstox is a safe stockbroker as it is a genuine company. It is an online brand of RKSV Securities India Pvt Ltd and is SEBI registered broker and has been in the discount broking business since 2012. This company is audited by stock exchanges regularly and there are no major violations done by the company so far.
3. Is Upstox a listed company or not?
Ans. No, Upstox is not a listed company as it is a privately owned company run by the promoters Mr. Ravi Kumar and Mr. Shrinivas Viswanath. Including the promoters, this company has major private investors like Mr. Ratan Tata, Tiger Global Management, GVK Davis, and Kalaari capital partners.
4. Is Upstox registered with SEBI?
Ans. Yes, Upstox is registered with SEBI stockbroker and Demat service provider. It is also a member of NSE, BSE, and MCX stock exchanges and CDSL and NSDL central depositories.
5. Which is better Upstox Or Zerodha?
Ans. Upstox and Zerodha are both online discount stock brokers who offer similar services at similar trading costs. However, Zerodha is the largest discount broker whereas Upstox is the second-largest discount broker.
The following are some points to consider the difference:
     Casual Investors
Zerodha and Upstox are almost the same as both offer online trading at BSE, NSE, and MCX for flat rupees 20 per trade. However, Zerodha offers brokerage free equity delivery trades while Upstox charges Rs 20 per trade and Zerodha also has a better brand name, strong management, and customer-friendly trading tools.
     Frequent Traders
Zerodha and Upstox both offer competitive trading tools and pricing but Zerodha trading platform kite is superior to Upstox Pro. Zerodha’s investment in technology is higher in comparison to Upstox and upstox provides third-party trading tools like dark stock, NEST, and Fox trader.
Conclusion:
I hope this article is sufficient enough to provide the information about Upstox Pro App Review.
