Compare Kotak Securities vs Upstox to find the best stock broker for your trading needs. Explore their brokerage charges, trading platforms, features, pros & cons, and more to make an informed decision.
About Kotak Securities
Founded in 1994, Kotak Securities Ltd is a full-service stockbroker and a subsidiary of Kotak Mahindra Bank. It offers a 3-in-1 account (Bank + Trading + Demat) to retail investors in India. The company provides investment opportunities in equities, derivatives (equity, commodities, currency), and mutual funds. Additional services include research reports, SMS alerts, margin trading, and third-party products like insurance. Kotak Securities also enables direct access to US markets.
About Upstox
Established in 2012, Upstox is a technology-driven discount brokerage firm offering trading services at highly competitive rates. It provides trading across equities, commodities, currencies, futures, and options through its Upstox Pro Web and Mobile platforms. Upstox is backed by prominent investors, including Kalaari Capital, Ratan Tata, and GVK Davix. Its trading platforms offer advanced charting, analysis tools, and a seamless trading experience.
Kotak Securities Vs Upstox: Key Comparisons
| Feature | Kotak Securities | Upstox |
|---|---|---|
| Type of Broker | Full-Service Broker | Discount Broker |
| Exchange Membership | BSE, NSE, MCX, NCDEX | BSE, NSE, MCX |
| Year of Incorporation | 1994 | 2012 |
| Number of Branches | 153 | 4 |
Charges & AMC
| Fee Type | Kotak Securities | Upstox |
|---|---|---|
| Trading Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Trading Account AMC Charges | Rs 0 | Rs 0 (Free) |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 (Free) |
| Demat Account AMC Charges | Rs 600 | Rs 150 |
Brokerage Charges
| Account Type | Kotak Securities (Trade Free Plan) | Upstox (Default) |
|---|---|---|
| Equity Delivery | 0.25% (Minimum Rs 20 per trade) | Rs 20 per executed order or 2.5% (whichever is lower) |
| Equity Intraday | Free | Rs 20 per executed order or 0.05% (whichever is lower) |
| Equity Futures | Rs 20 per trade (Delivery) / Free (Intraday) | Rs 20 per executed order or 0.05% (whichever is lower) |
| Equity Options | Rs 20 per trade (Delivery) / Free (Intraday) | Rs 20 per executed order |
| Currency & Commodity Futures | Rs 20 per trade (Delivery) / Free (Intraday) | Rs 20 per executed order or 0.05% (whichever is lower) |
Leverage (Margin)
| Segment | Kotak Securities | Upstox |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | 5x | 5x |
| F&O | 1x (NRML margin) | 1x (NRML margin) |
Trading Platforms & Features
| Feature | Kotak Securities | Upstox |
|---|---|---|
| 3-in-1 Account | Yes | No |
| Trading Platforms | KEAT ProX, Kotak Stock Trader, Fastlane, Xtralite | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader |
| Automated Trading | Yes | Yes |
| SMS Alerts | Yes | No |
| Online Portfolio | Yes | No |
| Margin Trading Funding | Yes | Yes |
| Intraday Square-off Time | – | 3:00 PM |
| Referral Program | No | Yes |
Research & Analysis
| Feature | Kotak Securities | Upstox |
|---|---|---|
| Daily Market Report | Yes | No |
| Free Trading Tips | Yes | No |
| Quarterly Result Analysis | Yes | No |
| News Alerts | Yes | No |
Suitability Based on Investor Type
| Investor Type | Kotak Securities | Upstox |
|---|---|---|
| Casual Investor | Yes | Yes |
| Active Investor | Yes | Yes |
| Trader | No | Yes |
Pros and Cons
Kotak Securities
Pros:
- Offers a 3-in-1 account with seamless banking integration.
- Zero brokerage for intraday trading.
- Zero brokerage across all segments for investors under 30 years.
- Part of a leading private bank (Kotak Mahindra Bank).
- Offers direct mutual fund investments and various third-party products.
Cons:
- Higher brokerage charges for equity delivery.
- High Demat AMC charges (Rs 600 per year).
- Limited tech-driven features compared to discount brokers like Upstox.
- Annual subscription fee of Rs 499 for advanced brokerage plans.
- No unlimited trading plans available.
Upstox
Pros:
- Flat Rs 20 per trade brokerage across all segments.
- Advanced trading platforms with algorithmic trading support.
- Offers margin against shares.
- Supports trading in SME stocks.
- Provides an easy-to-use referral program.
Cons:
- No 3-in-1 account facility.
- No mutual fund or bond/NCD investments.
- No stock recommendations or research reports.
- Additional fees for auto square-off (Rs 50 per trade).
- Higher call-and-trade charges (Rs 20 per order).
Conclusion
Kotak Securities is ideal for long-term investors who prefer a full-service broker with research and advisory services. At the same time, Upstox is best suited for traders looking for a cost-effective, technology-driven trading experience. Your choice should depend on your trading style and investment needs.