Upstox Discount Broker | Upstox Wiki.

Upstox is India’s leading financial services company and it is a Discount trading broker which gives you Equity trading, Derivatives trading, and Future & Options trading platform. The company was founded in 2009 by Ravi Kumar and Shrinivas Viswanath. Its headquarter is located in Mumbai, India. Upstox holds membership with BSE, NSE, MCX, and MCX-SX.

History-

The RKSV financial services company Founded in 2009 with an idea to make trading easier and cheaper. RKSV stands for founder members  Ravi Kumar, and Shrinivas Viswanath. The trading platform opened to the general public in 2012. In 2014, RKSV hit the 4000 Crore trading turnover by investing their regular client’s funds in NSE India. It contributed over 1% of trade turnover at the NSE.

In 2016, RKSV changed the brand name of its trading company to Upstox with a big focus on mobile and powerful trading platforms for Indian people.

The company raised the fund through a Series A round of funding from its lead investors Kalaari Capital, Ratan Tata, GVK Davix. This fund helped them to accelerate technology rollout and operations.

In 2019, Upstox raised US $ 25 million from its second round of institutional funding from Tiger Global Management. The company used all the funds to expand its business network and improve the trading platform. Upstox also launched an E-Adhaar account opening service and it makes the process of trading easier, faster, paperless, and efficient.

On 25 Nov 2021, Upstox joined the Unicorn clubhouse with a fresh round of funding led by the US investment giant Tiger Global. After this funding round, Upstox valuation expects to be in the range of $ 3-3.5 billion. Upstox is the 40th startup to enter India’s unicorn club.

Services offered by Upstox-

Upstox is a service-based company. It is India’s largest discount broker platform for new age group traders. The company offers free trading accounts and free trading in equity delivery segments. Trading in commodities, futures & options, equity intraday, and currency derivatives is available through a Upstox pro platform. It’s a chargeable service for the traders.

Upstox is compatible with web or desktop, mobile app, and iOS apps and it gives you different Investing portfolios such as equity shares, mutual funds, digital gold, F&O, and IPO (Initial Public Offering). Upstox 98.5% of trade orders are received from the web and mobile apps.

The company trading software is built in-house by RKSV to make it simple for users to place orders. The platform is built in Omnesys Nest order management system (OMS) and Omnesys Nest risk management system (RMS).

Investors and Holdings-

The company is backed by a group of investors including Ratan Tata, GVK Davix, and Tiger Global Management, and Kalaari Capital.

Holding-

• Tiger Global management holds 31.1% stakes in Upstox.
• Kalaari Capital Partners have a 15.1% stake.
• GVK Davix Technology holds 2.54% stakes.
• Ratan Tata also holds around 1.33% stakes in Upstox.
• The remaining 50% stakes are held by the promoters of the company which includes Mr Ravi Kumar and Mr Shrinivas Viswanath (RKSV) as of Jan 2020.

Upstox Account Opening-

Account Opening on the Upstox platform is available online, there isn’t any offline service availability, not yet. Users can open a Demat account simply by uploading the required documents.

Upstox Demat AMC (Annual Maintenance Charges) is Rs 300 per year.

Opening Process-

• Request a Call Back from Upstox or visit the website, upstock.com
• Enter your email address and mobile number.
• Verify your contact details through OTP verification.
• Upstox account opening charges are Rs 293 including other changes, you have to pay Rs 293 through UPI or another payment mode.
• Upload your Id proof, income proof, signature, and photograph.
• PAN card, Adhaar Card, Cancel Cheque, and Bank statements.
• It can take up to 48 Hrs for the generation of a user’s credentials and passwords. After post-application completion, the user receives a password & ID through an email then the user simply logs in and starts trading by using all of the features of the Upstox platform.
• App download link.