I am writing to inquire about a recent email I received from Upstox regarding an upgrade to the standard pricing plan. I did not request this change, and I would like to understand the reason behind it.
Additionally, I would like to confirm whether I will be subject to brokerage charges after November 18th. As a long-standing customer who created an account specifically because of the zero brokerage charges, I am concerned about any potential changes to this policy.
Furthermore, I have noticed that Upstox users who registered after 2021 are not charged AMC or brokerage fees. I would appreciate an explanation for this discrepancy and why it does not apply to my account.
Thank you for your attention to this matter. I look forward to your response.
We understand your preference to stay on your current plan, and we appreciate your feedback. However, at this time, transitioning to the new pricing structure is necessary to ensure a consistent and transparent experience for all our customers. This change is part of our efforts to standardise pricing across the board, offering a clearer āpay-as-you-tradeā model.
Most of our customers have already adopted this plan, which also comes with the added benefit of ZERO AMC. This means youāll only pay for the trades you execute, giving you greater control over your costs while eliminating any unused fees. Itās a step that allows us to continue enhancing our services and providing you with the best possible support for your trading and investment journey.
Let us know if you have any questions or need further assistance.
Thank you for sharing your concerns. Please note that our pricing structure has been standardised across all customers to ensure consistency while maintaining our commitment to delivering a first-class platform and technology.
Upstox is proud to be one of the few brokers offering industry-leading features like Depth 30, Tick-by-Tick (TBT) data on charts, Demand-Supply Zones, Limit Order Insights, and GTT Triggers powered by TBT data. These features, typically exclusive to algo traders or high-frequency desks, are now accessible to all, thanks to our mission to democratize market data for every trader, regardless of their trade size.
We also provide 99.9% app uptime, so you can rely on our platform at any time - see for yourself here: https://status.upstox.com.
Our brokerage charges are designed as a small contribution to support these advanced features and services. We hope you find immense value in what we offer and continue to trust us as your trading partner.
We fully comprehend and are ready to contribute to enhance the feature of upstox. However, this brokerage is something that we were not anticipating. Furthermore, upstox charges 2.6% compared to others charging 0.05 or 0.03.
Instead you can increase AMC as like Other platform. We are okay with AMC.
Please consider this to avoid customer loss.
Again, I am saying that we really like the upstox interface and not lose sight of the fact that upstox should also consider mid-level investors.
So basically youāre telling, if I do 300 trade (i.e 300 buy order + 300 sell order) in a year as usual, Iāll have to pay ā¹12,000 as brokerage instead of ā¹300 as AMC earlier?
This is completely illogical and unjustifiable. (Other brokers still provide 0 brokerage and AMC plans)
I do only equity delivery trade and all the above features Depth 30/ Tick-by-Tick (TBT) data etc. are irrational to me as theyāre mostly used by F&O traders.
If Upstox is providing more features - Iāll suggest you may take some logical decision as - increase the AMC to say ā¹499+GST and also have standard pricing - and let the user select the plan according to their convenience, that may be a logical decision.
Iād like your team to rethink on this pricing structure, so you may not loose your loyal Customers.
Thank you for sharing your feedback. Weād like to assure you that these charges represent a small investment for the many features weāve recently introduced and continue to roll out, all aimed at empowering you to invest right, trade smart, and build wealth confidently.
Our TBT feature isnāt just for F&O tradersāit offers many advantages for equity delivery traders as well. Weād be happy to explain the use cases to you.
Thatās not all, weāve introduced many features that will be beneficial to you - Trailing Stop-Loss with GTT, up to 4X leverage via Margin Trading Facility, Upstox news which will facilitate informed trades and better decisions and more.
We understand your perspective, however, weād like you to understand that our pricing plan has been crafted keeping the majority of our customers in mind. We hope you understand and see value in what we have to offer.
