Dear Upstox Team,
I had opened my Upstox account in 2022 under the Free AMC plan. Recently, I noticed a debit of ₹354 in my account, which appears to be the Annual Maintenance Charge (AMC) as per the revised pricing effective February 2025. I became aware of this change only after raising a support ticket and conducting a detailed review.
As a long-term investor, I had chosen Upstox because of its transparent and investor-friendly pricing. However, this unnotified (communicated only through a generic email that most users would never notice, having placed blind faith in Upstox’s name and values, and the charge was imposed unilaterally without user consent) change — especially after a “free AMC” commitment — feels both unfair and misleading.
Additionally, while the per-order charges (₹20/₹30 or 2.5%) remain unchanged, the introduction of AMC makes Upstox’s overall cost structure less competitive compared to other leading brokers, many of whom charge either AMC or per-order fees, not both.
I kindly request the team to:
1. Review my account’s original “Lifetime Free AMC” eligibility, and
2. Clarify why this benefit was revoked for existing customers without explicit communication or consent.
Ticket ID: 9626100
UCC- 54BH3J
Looking forward to your clarification and a fair resolution.
Warm regards,