Compare Upstox and AxisDirect, two of India’s leading stock brokers. This in-depth analysis covers brokerage fees, trading platforms, investment options, leverage, and more to help you choose the right broker for your needs.
About Upstox
Upstox is a tech-driven discount brokerage firm offering cost-effective trading solutions in equities, commodities, currency, futures, and options. Backed by investors like Kalaari Capital, Ratan Tata, and GVK Davix, Upstox provides a feature-rich trading experience via its Upstox Pro Web and Upstox Pro Mobile platforms. It is known for its advanced charting, analysis tools, and seamless trading interface.
About AxisDirect
AxisDirect is the retail broking arm of Axis Securities Ltd, a subsidiary of Axis Bank. Established in 2005, it offers full-service brokerage services, including investments in equities, mutual funds, SIPs, IPOs, derivatives, bonds, NCDs, ETFs, and company fixed deposits. With over 4.2 lakh active clients, AxisDirect provides research-backed insights and a range of financial products.
Upstox Vs AxisDirect: Key Differences
| Feature | Upstox | AxisDirect |
|---|---|---|
| Broker Type | Discount Broker | Full-Service Broker |
| Exchange Membership | BSE, NSE, MCX | BSE, NSE, MCX |
| Year of Incorporation | 2012 | 2006 |
| Number of Branches | 4 | 56 |
Upstox Vs AxisDirect: Charges & AMC
| Account Type | Upstox | AxisDirect |
|---|---|---|
| Trading Account Opening Charges | Rs 0 (Free) | Rs 900 |
| Trading Account AMC Charges | Rs 0 (Free) | Rs 0 |
| Demat Account Opening Charges | Rs 0 (Free) | Rs 0 |
| Demat Account AMC Charges | Rs 150 | Rs 650 |
Upstox Vs AxisDirect: Brokerage Charges Comparison
| Service | Upstox | AxisDirect |
|---|---|---|
| Equity Delivery | Rs 20 per executed order or 2.5% (whichever is lower) | 0.50% |
| Equity Intraday | Rs 20 per executed order or 0.05% (whichever is lower) | 0.05% |
| Equity Futures | Rs 20 per executed order or 0.05% (whichever is lower) | 0.05% |
| Equity Options | Rs 20 per executed order | Rs 0.01 per lot (Intraday) / Rs 10 per lot (Carry Forward) |
| Commodity Options | Rs 20 per executed order | Rs 50 per lot |
Upstox Vs AxisDirect: Leverage (Margin)
| Trading Type | Upstox | AxisDirect |
|---|---|---|
| Equity Delivery | 100% of trade value (1x) | 100% of trade value (1x) |
| Equity Intraday | Up to 20% of trade value (5x) | Up to 20% of trade value (5x) |
Trading Platforms & Features
| Feature | Upstox | AxisDirect |
|---|---|---|
| Trading Platforms | Upstox Pro Web, Dartstock, NEST Trader, Fox Trader, iOS & Android Algola | DirectTrade, AxisDirect Web, AxisDirect Mobile |
| 3-in-1 Account | No | Yes |
| Automated Trading | Yes | No |
| Margin Trading Funding | Yes | Yes |
Research & Reports
| Feature | Upstox | AxisDirect |
|---|---|---|
| Daily Market Report | No | Yes |
| Free Tips | No | Yes |
| News Alerts | No | Yes |
Suitable For
| Investor Type | Upstox | AxisDirect |
|---|---|---|
| Casual Investor | Yes | Yes |
| Active Investor | Yes | No |
| Trader | Yes | No |
Upstox Vs AxisDirect: Pros & Cons
Upstox Pros:
- Zero account opening fees.
- Flat Rs 20 per trade across all segments.
- Advanced trading tools and charting features.
- Supports direct mutual fund investments.
- Margin Trading Facility (MTF) at competitive rates.
Upstox Cons:
- No free equity delivery trading (unlike competitors like Zerodha).
- Lacks stock tips and recommendations.
- No 24/7 customer support.
- No NRI trading and Demat accounts.
- Higher Demat debit transaction charges (Rs 18.5 per ISIN).
AxisDirect Pros:
- Offers 3-in-1 investment account.
- Free research reports and recommendations.
- Provides investment options beyond stocks, including bonds and company FDs.
- Regular investor education through webinars and classroom sessions.
AxisDirect Cons:
- Higher brokerage charges for intraday and F&O.
- Call & trade charges of Rs 20 per trade.
- Higher Demat Account AMC fees.
- Requires a minimum Average Quarterly Balance (AQB) of Rs 75,000 in the linked Axis Bank account.
Conclusion
Upstox is ideal for cost-conscious traders and investors looking for a tech-driven discount brokerage model, while AxisDirect suits investors looking for research-backed investment opportunities with a full-service brokerage model.
Click Here to Choose Upstox if you want:
- Low brokerage fees.
- Advanced trading tools.
- Direct mutual fund investments.
Choose AxisDirect if you prefer:
- Research-backed trading decisions.
- A 3-in-1 account with banking integration.
- Multiple investment options beyond equities.