Upstox Pro Review

Upstox is one of the leading discount stockbrokers in India and was incorporated in January 2012. Since its existence, it has been able to capture funding from various investors including names such as Kalaari Capital, GVK Davix and Ratan Tata, the latter indirectly helping the brand build direct customer trust to a great extent.

While this discount broker allows its clients to trade on NSE, BSE & MCX, one of the major focuses Upstox has stayed aligned with is – Technology.

This focus can be observed in the quality of their trading platforms and Upstox Pro is one such example. Upstox Pro is available on both web as well as a mobile app variation. It was launched by the Upstox in May 2016 for its clients. In the rest of this article, we will take a detailed look at both these versions of this share market app and see what kind of values these trading applications bring to you.

Furthermore, we will also look at the flip side of these applications so that you get a complete 360-degree view in case you would like to commit yourself to trade using Upstox Pro.

Here is a quick look at the application interface:

Upstox Pro Features

Some of the top features offered on this trading platform are:

• Login-less Demo: You don’t need to login to this application or provide any contact information in order to access the demo version of this trading platform. You may choose to open a demat account in case you look to start trading in the stock market.
• Place orders directly from Charts: In order to save valuable time, especially for intraday trading, it makes complete sense to place your order directly from the charts while you are analyzing the trends of a specific scrip or index. This application allows you to place your trades in a couple of clicks from the charting feature itself.
  
• Clean User Interface: The application designs at both mobile & web levels are intuitive in nature and offer optimal user experience to you irrespective of the point whether you are a first time trader or a seasoned investor.
• In-Depth Analysis: There are more than 100+ technical indicators, 10 drawing tools, multiple types of charts in order to carry out an in-depth technical and/or fundamental analysis.
  
• API Integration: For traders who are looking to develop custom strategies and perform a comprehensive analysis of their trades, the discount broker offers API integration that allows them to connect the trading platform with external systems.
  
• Flexibility to invest in MF (Mutual Funds): Apart from investing in Equity, Currency, Commodity segments, you may choose to invest in specific mutual funds of your choice while using Upstox Pro trading application. The platform provides you with a list of 2000+ mutual funds with information on their respective expected return percentage, associated risk level, lock-in period etc.

Here is a quick look at some of the features offered in the Upstox Pro Mobile App version:

• As soon as you enter into this mobile trading application, this Nifty 50 index appears as the default screen providing a quick glimpse of the current market situation.

• Different types of charts including Candle, Bar, Mountain, Heikin-Ashi etc provided within the mobile app for detailed technical and fundamental analysis.

Apart from the features mentioned above, Upstox offers low brokerage charges across the trading segments with maximum brokerage capped at ₹20 per executed order. This capped brokerage rate stays at this limit irrespective of the trade value.

Furthermore, if you are someone who prefers to place delivery trades, the brokerage is free (although you might need to pay some taxes, stamp duty which is applicable to all brokerage houses).

However, with time, Upstox offers a better version by upgrading the application to Upstox Pro Web 3.0

After understanding the features, learn how to use Upstox Pro

Upstox Pro Cons

As mentioned earlier, let’s look at some of the grey areas about this trading platform that you must be aware of:

• The speed of the trading platform can be a bit compromised in case you are using a lower internet connection bandwidth.
• Although the application is updated on a regular basis, it will take some time to improve the application’s maturity level in terms of exhaustiveness of the features offered for different kinds of traders.
• An expert level trader might find the number of features to be limited.

Thus, looking at both the facets of Upstox Pro, you may choose to take a demo, check its performance and decide for yourself on whether to go ahead with this broker or not.