Top 5 Disadvantages of Upstox

Top 5 Disadvantages of Upstox

Disadvantages of Upstox

Friends, we all know that if you want to trade in the stock market then you will actually need a Demat and Trading account and you can get it very easily with the help of online trading platforms like Zerodha and Upstox.

In fact, if we talk more about Upstox then you will understand that it is one of the most popular trading platforms available in India in today’s time, with millions of people using this trading platform for their investment journey in the stock market. 

With the help of Upstox, you can trade in commodities, securities, and equities very easily and if you have the right knowledge of things related to the share market, then you can earn a lot of money too.

See, if seen in this way, each online trading platform has its own set of advantages and disadvantages. Furthermore, the benefits and drawbacks of various platforms may differ for each individual, and this is entirely dependent on one’s point of view.

By the way, if seen, Upstox is a leading trading platform in India and there are many advantages of trading from here, but today we will talk about some drawbacks of this platform which are very less discussed on the internet. If you really want to know more about the same then kindly read this article till the end.

Upstox Disadvantages

(1) Account Opening Charge

Till now, you could open a Demat account on Upstox’s online trading platform for free, and many individuals have taken advantage of this opportunity and opened their accounts on this platform, and all of those people are also doing successful trading with this platform.

However, things have been changed on this platform, and in today’s time if you really want to open a Demat account on this platform then you have to pay fees of 250 rupees at the time of account opening.

Look, here it is not a matter of 250 rupees because no one will ever take a close look at that small portion of the money to open a Demat Account on a good trading platform.

But one thing that has struck a home in people’s minds is that the rest of all the trading platforms are still allowing people to open a Demat account for free, so why should they have to spend money to open a Demat account with Upstox, and their point is also quite obvious.

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(2) High Maintenance Charges

Along with the paying charges on the Demat account, another major disadvantage of Upstox is that the account maintenance charges on this platform are also very high compared to other trading platforms such as Groww and IIFL and this is the main reason why Individuals feels that this trading platform appears to be more expensive.

However, it is possible that in the future, the Upstox team will pay close attention to the matter and will definitely reduce the platform’s maintenance charges too. 

Top 5 Disadvantages of Upstox

(3) No Physical Offices are available

We genuinely think that the Upstox team has overestimated the concept of digital trading because almost all of the work on this platform is done entirely digitally. You can do everything in Upstox, from opening a Demat account to trading, without having to deal with any paper.

If are also using trading services like Groww and IIFL then one thing that you know very well is that the regional offices of these trading companies are located in almost every city, allowing you to visit them and solve your queries in case of any problem happens.

However, in the case of Upstox, these things do not apply at all. In fact, the truth is that even in many major cities, you will not be able to find the physical offices of this trading platform named Upstox. This does not indicate that this platform is a fraud; rather this platform believes more in solving all the problems digitally. 

(4) Poor Customer Support

By the way, if you’re a trader, you’ve probably noticed that almost every online trading platform’s customer service support is terrible, and almost every platform gives you a big zero on the names of their support team.

Upstox also provides a service similar kind of service when it comes to the solve the queries of their customers.

To be honest, even if you have a very genuine and serious question, you will not receive a response from the Upstox team for 10 to 12 days, which is extremely frustrating and time-consuming for someone who values both their money and time. 

(5) Some another major disadvantages

Another major drawback of Upstax is that if you are an NRI then you cannot open your personal trading account on this platform and also you are not supported by any kind of relationship manager through this platform.

Another disadvantage is that you have to pay Rs 20 more per order on call and trade order which is considered quite costly.

Apart from not providing the facility of relationship manager, you are also not provided any research and analysis related services on this platform and for this reason, you have to use your own knowledge to do the works related to trading and investment.

Final Words on Upstox Disadvantages

Friends, we really hope that you have liked this article related to Upstox Disadvantages really very much.

If you have any queries regarding this article, then you can share them with us by commenting in the comments section.

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