Forex upstox Trading Broker Review

Performance Matrix

Main Score & Risk Matrix

N/A

Score

1.7

Very Poor

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

License 1.9

Business 1.2

Risk Control 1.5

Software 2.2

Regulatory 1.7

Terminal Snapshot

upstox Trading Conditions

Registered Region India

Operating Period 5-10 years

Minimum Deposit $100

Spread N/A

Licenses N/A

Contact Email support@upstox.com

Contact Number +9102224229920

Website upstox.com

Balanced Review

Pros & Cons

Pros

Diverse range of trading instruments including stocks, commodities, and currencies
Zero commission on mutual funds
Clear fee structure with no hidden charges
Multiple customer support channels
User-friendly trading platforms including MT4 and mobile app

Cons

No regulation by recognized financial authorities
Lack of investor protection mechanisms
Limited educational resources for traders
Withdrawal fees may apply for certain methods
Inactivity fees for dormant accounts

Compliance Desk

Regulatory Licenses

0.0/10

No structured regulatory license cards have been configured yet.

Peer Benchmark

Broker Comparison

Feature	upstox	XA Markets	Goodwill	AvaTrade
Operating Period	5-10 years	See review	See review	See review
Region	India	See review	See review	See review
Minimum Deposit	$100	See review	See review	See review
Spread	N/A	See review	See review	See review
Trust Score	1.7/10	See review	See review	See review

Product Fit

Account Types

What Account Types and Fees Does upstox Offer?

Account Type	Target User Group	Essential Characteristics	Applicability Notes
Demat Account	All traders	Facilitates holding securities in electronic form	Suitable for all investors looking to trade in stocks
Trading Account	Active traders	Enables trading in various financial instruments	Required for executing trades in stock, commodities, and derivatives

Account Opening Process

Opening an account with Upstox involves several steps. Initially, you will need to provide personal information, including your name, address, and contact details. Following this, you will submit employment information along with your financial details, which may include income sources and financial status. Identity verification is a crucial step, requiring you to submit a valid ID and proof of address. Once your account is set up, there is flexibility to upgrade to a professional account in the future, allowing for enhanced trading capabilities as your trading experience grows.

Trading Fees

Product	Spread (pips)	Commission	Notes
Forex (Major Pairs)	Varies	Varies	Tight spreads typically available
CFDs (Stocks, Indices)	Varies	Varies	Competitive pricing structure
Cryptocurrencies	Varies	Varies	Dependent on market conditions

Other Fees

In addition to trading fees, Upstox may charge for various other services. This includes deposit and withdrawal fees, which can vary based on the method used. Inactivity fees may apply if the account remains dormant for an extended period. Platform usage fees are not specified but may be applicable depending on the services utilized. Overnight interest, also known as swap rates, can affect positions held overnight, and currency conversion fees may be incurred when trading different currency pairs.

Editorial Verdict

Expert Verdict

R

Research Desk

Senior Broker Analyst

Our review desk considers this broker unsuitable for most traders until transparent licensing, stronger compliance evidence, and clearer client-fund protections are demonstrated.

Funding Desk

Deposit & Withdrawal Methods

No structured payment methods have been configured yet.

Trader Feedback

upstox User Reviews

3.0

★ ★ ★ ★ ★

4 total reviews

5 star

4%

4 star

4%

3 star

4%

2 star

20%

1 star

60%

Rahul Sharma

Mumbai

★ ★ ★ ★ ★

I’ve had a frustrating experience with Upstox. My withdrawal requests take much longer than expected, and customer support has been unresponsive. I’m concerned about the lack of regulation as well. I wouldn’t recommend it to anyone looking for a reliable broker.

Anjali Verma

Bangalore

★ ★ ★ ★ ★

Upstox has a user-friendly platform that makes trading easy. I appreciate the variety of trading instruments available, and the mobile app is quite handy for on-the-go trading. However, I do wish they had more educational resources for beginners.

Suresh Mehta

Delhi

★ ★ ★ ★ ★

I regret opening an account with Upstox. Their customer service is terrible, and I faced issues with my account verification that took ages to resolve. The absence of regulation makes me feel unsafe. Definitely not a trustworthy broker.

Priya Desai

Chennai

★ ★ ★ ★ ★

I’ve been trading with Upstox for a year now, and I’m very satisfied! The execution speed is fast, and I love the zero commission on mutual funds. Their trading platforms are robust and offer all the features I need. Overall, a great experience so far!

India Market