Shared user ID in a private chat.
I have recently noticed an increase in the brokerage charges for my account. Since I typically make small, long-term investments, paying ā¹20 for every small buy trade significantly impacts my overall profitability.
Upon reviewing other platforms I found that they offer more competitive pricing structures compared to Upstox. If this issue cannot be addressed or revised soon, I may need to consider switching to a more cost-effective platform.
Welcome to the Upstox Community!
Have you received an email from us regarding this?
We have recently moved to a pay-as-you-trade structure with zero AMC. Itās ā¹20 or 2.5% per trade, whichever is lower. Itās a standardised plan that gives all customers access to the same simple and fair structure.
You can check more details about it in this post: Clarity, Transparency, and Fairness: Our Approach to Pricing
Hi @Ushnota ,
I did not receive any prior email communication about this, and it seems the charges have been applied directly. Upon checking other platforms, I noticed that the brokerage charges taken by Upstox are significantly higher. For example, if I buy 10 stocks at ā¹600 each, the brokerage charges amount to ā¹200, which seems unreasonable. If Upstox continues to impose such charges, I may need to consider switching to other platforms.
Hi @Pritish_Thakkar,
Weāve reviewed your details, and an email was sent to you on 29th October 2024 regarding this change. Please check your inbox, including the spam or promotions folder, for the communication. Thanks.
Could you please share your UCC so that we can check and confirm your current pricing status? Thanks.
@Ushnota Shared UCC in private chat
Weāve reviewed your details, and an email was sent to you on 21st October 2024 regarding this change. Please check your inbox, including the spam or promotions folder, for the communication. Thanks.
You should introduce subscription plans that will remove per order brokerage and charge fixed monthly amount then it will be beneficial for both Upstox and traders. Specially to small traders which converts their profit to loss due to brokerage charges. For example if small traders places 20 orders and make profit of 1000 RS. Even though he is in profit but trades charges will make him in loss which is approximately 60 * 20 = 1200 (Brokerage + taxes) so trader will be always in loss. If you bring subscription plan where we pay fix monthly charges, we will be able to recover that charges during the monthly profit.
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Hi @Jagdish_j_ptl,
Thank you for your feedback. We have taken note of it and shared it with the relevant team for further review.
Hi,
I received this email from Upstox saying that I was on an older plan and so you are āupgradingā me to a new plan in which up to Rs. 20 would be charged as brokerage. This is extremely high for me as my trading pattern is, like, buying 2-3 shares at a time. So, unless I am moved back to my āolderā plan, the only option I have is to opt for some other discount brokers who offer better pricing. Because paying Rs. 20 brokerage for orders worth 500-1000 rupees doesnāt make sense to me. Yearly subscription makes much more sense to the customers.
Any update from you on this would really be appreciated.
I have reviewed the brokerage charges offered by other brokers and noticed that their rates are significantly lower compared to Upstox. For instance, while Upstox charges 2.5 %, other brokers charge as little as 0.05 %. This difference feels quite high. If no changes are made to the brokerage rates, it could result in losing customers. I have decided to switch to another broker as the current charges are not suitable for me
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Completely agreeā¦ I have already opened account with another broker
Hi @AKB,
Thank you for sharing your concerns and your feedback is valuable to us. The transition to the new plan is part of our updated structure to ensure consistency and transparency across our services. While the older plan isnāt available anymore, we encourage you to explore ways the updated plan might align with your trading goals. If youāve more questions, we are happy to help.
Thank you for sharing your concerns and your feedback is valuable to us. However, the transition to the new plan is part of our updated structure to ensure consistency and transparency across our services. While the older plan isnāt available anymore, we encourage you to explore ways the updated plan might align with your trading goals. If youāve more questions, we are happy to help.