Upstox
Discount BrokerAccount openingFree
AMC₹0 first year
Intraday₹20 or 0.1% per executed order, whichever is lower
Broker Comparison
Upstox vs SBI Securities
Compare brokerage charges, account fees, trading platforms, products, MTF, advantages and limitations before choosing a broker.
Data verified: 2026-08-03
SB
SBI Securities
Bank BrokerAccount opening₹0
AMC₹750
Intraday0.05% per trade.
Upstox vs SBI Securities: Quick comparison
Key charges and account features side by side.
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| Feature | Upstox | SBI Securities |
|---|---|---|
| Broker type | Discount Broker | Bank Broker |
| Account opening | Free | ₹0 |
| Annual maintenance | ₹0 first year | ₹750 |
| Equity delivery | ₹20 per executed order | 0.50% per trade. |
| Equity intraday | ₹20 or 0.1% per executed order, whichever is lower | 0.05% per trade. |
| Futures | ₹20 or 0.05% per executed order, whichever is lower | 0.05% per trade. |
| Options | ₹20 per executed order | ₹100 per lot. |
| Commodity | ₹20 per executed order or 0.05% (whichever is lower) | 0.05% of turnover |
| Currency | ₹20 per executed order or 0.05% (whichever is lower) | 0.03% of total turnover value |
| DP charges | ₹20.0 + GST | 0.01% of the trade value (Minimum ₹21, Maximum ₹300) per debit transaction |
| Auto Square Off | ₹50 + GST | ₹49 per executed order |
| Call & trade | ₹75 + GST | ₹49 per executed order |
| Customer support | Official app/web help centre, ticket, email and/or phone support. | Official app/web help centre, ticket, email and/or phone support. |
| Active Users | Approximately 2.5 million active clients. | NSE Active Clients: ~11.17 Lakh (1.11 million) active users |
About Upstox
Upstox is a technology-driven discount broker in India that offers online investing and trading services at competitive charges. Users can trade in equities, commodities, currencies, futures, and options through its mobile and web-based platforms.
The company is backed by prominent investors, including Ratan Tata and Kalaari Capital. Upstox focuses on providing a simple, fast, and accessible trading experience for both beginners and active traders.
Its trading platforms offer advanced charts, technical indicators, watchlists, order management tools, and portfolio tracking features. Users can access equity delivery, intraday trading, futures and options, commodities, and currency derivatives through a single Upstox account.
About SBI Securities
SBI Securities Limited is the stockbroking arm of the State Bank Group and a wholly owned subsidiary of SBI Capital Markets Limited. Founded in 2006, it operates as a full-service stock broker offering retail and institutional equity broking, derivatives trading, depository services, and third-party financial products.
Its online trading platform allows resident Indians and NRIs to invest in equities, derivatives, mutual funds, ETFs, IPOs, and NCDs. The company also offers access to selected lending products, including home loans, car loans, and loans against securities.
SBI Securities is registered with SEBI and acts as a Depository Participant with both NSDL and CDSL. It also provides online trading services for NRIs, although availability and account features may vary depending on the investor’s country of residence and applicable regulations.
Trading Platforms & Tools
- Upstox offers web and mobile trading platforms designed for investors and active traders. Its tools include advanced charts, technical indicators, multiple order types, customizable watchlists, price alerts, option chain analysis, portfolio tracking, and real-time market data. Users can trade in equities, futures and options, commodities, and currencies, as well as invest in mutual funds, IPOs, ETFs, and other financial products through a single account
Products Offered
- Upstox offers a wide range of investment and trading products, including equity delivery, intraday trading, futures and options, commodities, currencies, mutual funds, IPOs, ETFs, bonds, and government securities. Users can access and manage these products through a single Demat and trading account.
Trading Platforms & Tools
- SBI Securities offers web and mobile trading platforms for investing in equities, derivatives, mutual funds, ETFs, IPOs, NCDs, and other products. Its platforms include features such as watchlists, live market data, portfolio tracking, research reports, online order placement, and account management, along with call-and-trade and offline support services.
Products Offered
- SBI Securities offers a wide range of products, including equities, derivatives, mutual funds, ETFs, IPOs, NCDs, bonds, corporate fixed deposits, 3-in-1 account and depository services. It also provides selected lending products such as home loans, car loans, and loans against securities.
Upstox pros and cons
Pros
- Low and transparent brokerage
- Advanced trading tools and charts
- Wide range of investment products
Cons
- Does not offer a 3-in-1 account.
- Does not offer unlimited monthly trading plans.
SBI Securities pros and cons
Pros
- Maximum Safety: Backed fully by State Bank of India, offering high reliability for large long-term portfolios.
- 3-in-1 Integration: Links SBI bank, demat, and trading accounts for instant, seamless fund transfers.
- Physical Branch Network: Provides extensive offline customer support through pan-India bank branches and investment desks.
Cons
- High Standard Fees: Charges up to 0.50% for equity delivery, making it expensive compared to discount brokers.
- Costly Operational Charges: Imposes a high minimum DP fee of ₹21 per scrip alongside steep auto square-off penalties.
Which broker should you choose?
Choose based on the segment you trade, total account cost, platform requirements, research needs and support preference. Verify the latest tariff and product availability on the brokers’ official websites before opening an account.
Broker Rating
Upstox
4.3/5
SBI Securities
Rating not added
Read complete broker reviews
Frequently asked questions
Is Upstox good for beginners?
Yes, Upstox is suitable for beginners because it offers an easy-to-use app, online account opening, and access to multiple investment products.
Is Upstox Demat account opening free?
Yes, Upstox currently offers Demat account opening at ₹0.
What are the Upstox annual maintenance charges?
Upstox currently charges ₹0 AMC for the first year, after which non-BSDA users pay ₹300 + GST annually.
What is the brokerage charge in Upstox?
Upstox charges up to ₹20 per executed order, depending on the trading segment.
Does Upstox charge brokerage on equity delivery?
Yes, Upstox currently charges ₹20 per executed equity delivery order.
Can I invest in mutual funds through Upstox?
Yes, users can invest in mutual funds through Upstox with ₹0 charges on mutual fund transactions.
Can I apply for an IPO through Upstox?
Yes, Upstox users can apply for IPOs online, and Upstox currently charges ₹0 brokerage on IPO investments.
How long does it take to open an Upstox account?
An Upstox Demat account can generally be activated within 12–48 hours after successful document verification.
Does Upstox charge DP charges when selling shares?
Yes, Upstox currently charges ₹20 per scrip per day as DP charges when equity delivery shares are sold.
Can I trade in stocks, F&O, commodities and currencies with Upstox?
Yes, Upstox provides access to stocks, futures and options, commodities, and currency trading.
What are the charges to open a Demat and Trading Account?
Online digital account opening is ₹0 (Free), though physical application routes may attract minor documentation or stamp fees
Does SBI Securities offer a 3-in-1 integrated account?
Yes, it links your SBI Savings Bank Account, Demat Account, and Trading Account for instant, paperless fund transfers.
What are the document requirements to open an account?
Resident Indians require a PAN Card, Aadhaar Card (linked to a mobile number for OTP), a canceled cheque/bank proof, and a live photo via e-KYC.
What is the standard brokerage under the basic eZ-Trade plan?
The standard plan charges a percentage fee of 0.50% for Equity Delivery and 0.05% for Equity Intraday trading
What is the SBI Securities ProZero plan?
The SBI Securities ProZero Plan is a discount tier providing lifetime ₹0 brokerage on Intraday trading across Equity and F&O segments.
How much does carrying forward a Futures or Options position cost?
Under flat-fee models like ProZero, overnight positional F&O trades are priced at a flat ₹20 per executed order.
How does the E-Margin / Margin Trading Facility (MTF) work here?
The SBI Securities E-Margin Facility provides up to 4x buying leverage on over 700 selected stocks. You pay a 25% upfront margin, and SBI funds the remaining 75%
What is the interest rate charged on E-Margin (MTF) allocations?
SBI Securities charges 0% interest for the first 23 trading days. From the 24th trading day onward, interest applies at 0.04% per day (~14.6% annually)
Is SBI Securities a full-service stock broker?
Yes, SBI Securities is a full-service stock broker offering equity trading, derivatives, mutual funds, IPOs, ETFs, NCDs, depository services, research support, and other investment products.
Can NRIs open an account with SBI Securities?
Yes, SBI Securities provides trading and investment services to NRIs. However, available products and account features may vary according to the investor’s country of residence and regulatory requirements.