7 Reasons why I choose Upstox as my Discount Broker
Sharing my experience of using Upstox for almost two years
Upstox is a discount broker that facilitates trading in the Indian Stock Markets. It is running under a parent company named RKSV Securities Pvt. Ltd.
In this blog post I will be sharing my two year experience and the reason I like to trade using Upstox.
Upstox has become a popular discount broker in the past three years, mainly because of it’s simple and user friendly design.
Despite sharing all the advantages you have having a discount broker, this blog will highlight the top 7 reasons why Upstox among the rest in the market
The user interface of upstox is portal is top notch. It is very easy to place trades and analyze LIVE orders and positions.
Upstox is a discount broker, meaning the brokerage charges levied upon is minimum. A discount broker will change a maximum of Rs. 20 per order irrespective of the script quantity. This is of great advantage to retail investors as we can easily save cost on brokerage amount.
The following are the 7 reasons why I choose Upstox as my discount broker:
1. Integration with trading softwares like Nest Trader and DartStock
Upstox allows its users to integrate with the popular trading softwares like Nest Trader and Dartstock. For me personally, I have been using the trading terminal provided by Dartstock.
Dartstock terminal gives a bunch of features like providing unlimited alerts, providing heat map, a ready to use market watch with all scripts added by default. It also flashes stock based news for better understanding of the price movement.
2. In built Option Chain for placing orders and market analysis
The main feature of Upstox is that it has in built option chain that shows real time price movements.
Traders that usually trade in stocks with futures and options often tend to read the data from option chain which is available in the NSE (National Stock Exchange) official website.
But switching between screens can sometimes be a little hassle for intraday traders. This in built feature not allows you to view the option chain but also place orders on the go.
3. User friendly mobile App
In today’s generation it has always been convenient to trade using on the go with the help of a mobile app. The mobile app provided with Upstox is top notch with minimal designs to avoid clutter. The process of placing orders, viewing positions, holding and transferring funds in seam less and easy.
I highly recommend this app to people who are part time traders, who cannot afford to sit in front of the desk and monitor their positions.
4. Strategy mode for option traders
This is a great feature provided by Upstox which helped me place multiple trades and save time and confusion. In this strategy mode you can place 4 traders at the same time
This feature helps traders avoid price slippage due to time delay and helps to create and analyze strategies with much ease.
5. Upstox 3-in-1 Account
Upstox is the only discount broker that allows you to have 3-in-1 account. This feature will help you get interest on the money that is present in saving account which you have not used to trade.
A healthy trader does not trade everyday but the money that is present in the trading account does not attract and interest on time. This is a opportunity loss for many traders.
This is problem is resolved by Upstox as no you can open a 3-in-1 demat account with Upstox and Indusind Bank. The best way to earn interest while you trade.
Know more about Upstox 3-in-1 Demat Account by referring their official website. Link: https://upstox.com/3-in-1account/IndusStox/register
6. Order generator: Share your trades with your friends with a link
Using this feature provided by Upstox you can easily share all your trades with your friends with a help of a link. This is feature is useful for someone who has a telegram channel where he post his trades for a sizable audience
Try the order generator by Upstox here: https://upstox.com/tools-and-calculators/order-link-generator
7. Integration with Amibroker
Amibroker is a software that help traders for back testing their strategies. It is a powerful tool that lets you analyze your trades and customize your charts and overall improve your trading experience.
Amibroker also provides great technical support for trading and provides you with free EOD (End Of Day) charts to make you a pro trader.
Open your Demat Account with Upstox in 10 minutes: It’s simple and paperless
Step 1: Click on the link www.upstox.com/open-demat-account
Step 2: After clicking you will lend on the following page:
All you need to do is submit your email and contact number that you want to link your demat account with. You will receive an OTP on your registered number. Just submit your OTP and you’re good to go.
Step 3: Fill in your PAN card no and your Date of Birth in the following page.
After this mandatory step is done, you will need to upload your PAN card and Aadhar card and you are good to go. Your trading account details will be mailed to you and you will be able to use the trading account within 24 hours.
About the writer
I’m Atish Lolienkar, MBA / Engineer by education and I love to share my views on the topics of Finance and Real Estate.
For any assistance in demat account opening, mail me at atishlolienkar@gmail.com
