You can withdraw funds from your Upstox trading account, by putting a withdrawal request. The withdrawal request can be submitted from its trading software (i.e. Pro Web or Pro Mobile). This facility is not available in its back office (dashboard or keystone).

Steps to withdraw from Upstox

1. Open Pro Mobile App or https://pro.upstox.com/
2. Login with client id and password
3. Click the ‘Rs Balance’ link on top right
4. Choose ‘Securities’ or ‘Commodities’ account
5. Click the ‘Withdraw Funds’ button
6. Enter the amount and click the ‘Withdraw’ button.

Upstox is a leading discount stock broker. It is good in many regards. Some of the key advantages of opening an account with the company are:

1. Offering retail online trading for over 10 years
2. Lakhs of active customers
3. Low and fixed brokerage plans (Rs 20 per trade)
4. Direct Mutual Fund services
5. Access to powerful 3rd party trading software such as Fox Trader and Nest Trader

Upstox competitor includes Zerodha, 5paisa, Edelweiss and Angel One.

Upstox offers multiple options to transfer money from your bank account to the trading account. Here are the options available to transfer money:

Steps to transfer money in Upstox using Net Banking

• Log in to your trading account
• Go to the ‘Add Funds’ section
• Choose the account you wish to use
• On the bank website’s portal, log in with your net banking ID and password
• Click confirm

Steps to transfer money in Upstox using UPI

• Add Upstox as a beneficiary
• Email your valid bank statement (in .jpg or PDF format) that clearly shows your Bank Account Number, Name and Transaction Reference Number to [email protected].

Steps to transfer money in Upstox using NEFT/RTGS

Add the Upstox bank account details as a beneficiary and transfer the funds from net banking using NEFT or RTGS.

For Securities

Bank Name – HDFC Bank

Account Name – RKSV SECURITIES INDIA PVT.LTD.

Account Number -00600340067574

Account Type – Current

Account IFSC Code- HDFC0000060

For Commodities

Bank Name – HDFC Bank

Account Name – RKSV COMMODITIES INDIA PVT.LTD.

Account Number -15770340022236

Account Type – Current Account

IFSC Code- HDFC0000060

Steps to transfer money in Upstox using Cheque

• Write a cheque in the name of ‘RKSV Securities India Pvt Ltd’ for securities and ‘RKSV Commodities India Pvt Ltd’ for commodities.
• Send a photo of the cheque to [email protected]

Upstox customers can buy IPO through Upstox by using UPI as a payment method. The upstox online IPO application is simple, quick and convenient.

Note: You should have a UPI ID to apply in IPO through Upstox. You could create a UPI ID using any net banking app (i.e. ICICI, SBI, HDFC, Kotak Bank) or using the BHIM UPI app for Android and iPhone.

Steps to buy IPO through Upstox

• Login to Upstox Pro Web or Upstox mobile app
• Click on your customer name and customer ID on top right
• Click on Apply for IPO link
• Select the IPO you wish to apply by clicking the ‘Details’ button
• Go to the bottom on IPO Detail page and click ‘Place Bid’ button
• Enter UPI ID and choose Investor Type
• Enter order quantity and price
• Choose Cutoff-price checkbox if applying in the retail category
• Review and place order
• Approve the notification received on the BHIM app in 2 to 12 hours.

Note: If you have Upstox demat account, you can also apply in IPO using an online IPO facility offered by your bank’s net banking. All popular banks including ICICI, HDFC, SBI, Kotak, Axis Bank offer online IPO.

You have to mention your upstox demat account information in the IPO application form. The allocated shares are automatically delivered to your upstox demat account. You can sell them on the IPO listing day.

The Upstox demat account can be canceled by filling out a paper form and sending it to the company’s office. The form is available on the Upstox website at Support > Form Downloads on the top menu.

Download the form, print and fill it and courier it to the company’s registered address along with unused DIS slips to close the upstox demat account.

Upstox offer 2 types of fund transfer:

1. Instant Fund Transfer – It cost Rs 7 per transaction.
2. Depositing via NEFT/RTGS – Its free. It takes 4-5 hours.

Yes, Upstox mobile app offers all the segments at BSE, NSE, and MCX exchanges. It includes Equity, Commodity and Currency.

Upstox Pros and Cons

Upstox Pros (Advantages)

The following are the advantages of Upstox. You must read Upstox advantages and disadvantages before opening an account with Upstox. Upstox pros and cons help you find if it suits your investment needs.

• No charges for online account opening.
• Flat Rs 20 per trade brokerage across all segments (delivery, intraday and F&O).
• No software uses charges.
• Advance order types including AMO, CO, SL, GTT are available.
• Margin Trading Facility (MTF) is available at interest rate of Rs 20/day for slabs of Rs 40,000.
• Margin Against Shares is available.
• Upstox Pro Web Trading Platform offers multiple indicators to monitor markets on-the-go.
• Upstox Bridge for AmiBroker helps you to code & execute your trading strategy using the AmiBroker AFL editor.
• Upstox Developer Console helps you build (code) your own trading app using languages such as Python.
• Upstox Option Chain Tool helps traders find out Spot, Future prices, vertical comparison of rates, get details such as circuit levels, Open High Low Close and market depth. It allows customers to measure volatility, open Interest, performance indicator and check greeks as well.
• Upstox MF Platform offers 1000’s of Mutual Funds to invest in. Customers can choose Lumpsum or SIP pattern of investing.

Upstox Cons (Disadvantages)

The following are the cons of Upstox. Check the list of Upstox drawbacks.

• The brokerage fee for stock deliveries is Rs 20 per trade. Most other brokers offer stock deliveries without brokerage fees.
• Upstox doesn’t offer unlimited monthly trading plans.
• Margin funding isn’t available for delivery trades.
• Doesn’t offer stock tips or recommendations.
• Doesn’t offer a 3-in-1 account.
• Doesn’t offer 24/7 customer support.
• Doesn’t offer API access for automated trading.
• Doesn’t offer NRI Trading and Demat account.
• Call-and-trade fee is Rs 20 per executed order.
• Automatic settlement charges an additional Rs 20 per executed order.