If you’ve searched for a low-cost trading platform in India, you’ve probably come across Upstox more than once. Many ads and reviews claim it offers “lifetime free” services. Sounds tempting, right? But here’s the truth — in the stock market, nothing comes completely free.
In this detailed guide, we’ll break down:
- Whether Upstox is really lifetime free
- All real charges (no sugarcoating)
- Features that matter for traders and investors
- Hidden costs you should know
- Who should actually use Upstox
Let’s separate marketing buzz from reality.
What Is Upstox?
Upstox is one of India’s leading discount brokers. It started in 2012 under RKSV Securities and has grown rapidly thanks to low brokerage and a clean trading platform.
Today, millions of Indian investors use Upstox for:
- Equity delivery
- Intraday trading
- Futures & options
- Mutual fund investments
- IPO applications
The platform operates under regulations set by SEBI, which means it must follow strict compliance and transparency rules.
Bottom line: Upstox is legitimate and regulated. But “lifetime free” needs closer inspection.
Is Upstox Really Lifetime Free?
Short answer: Partly yes, mostly no.
Upstox offers zero brokerage on equity delivery, which many people interpret as lifetime free trading. However, several other charges still apply.
Let’s decode the reality.
What Is Actually Free in Upstox
Upstox does provide some genuinely free services.
1. Zero Brokerage on Equity Delivery
When you buy stocks for long-term investing (delivery), Upstox charges â‚ą0 brokerage.
Example:
- Buy 100 shares of Infosys
- Hold for months or years
- Brokerage = â‚ą0
This makes it attractive for long-term investors.
âś… Good for investors
❌ Not fully free trading
2. Free Account Opening (Occasionally)
Upstox sometimes runs promotional offers where:
- Account opening fee = â‚ą0
- AMC discount for the first year
But this depends on the current offer. It is not always lifetime free.
3. Free Mutual Fund Investments
Upstox allows direct mutual fund investments without commission. Since these are direct plans, the expense ratio stays lower compared to regular plans.
What Is NOT Free in Upstox (Important Reality Check)
Here’s where many beginners get surprised.
Even though delivery brokerage is zero, several charges still apply.
1. Intraday and F&O Brokerage
Upstox charges:
- â‚ą20 per order or
- 0.05% (whichever is lower)
This applies to:
- Intraday equity
- Futures
- Options
So if you actively trade, your costs will add up.
👉 Active traders do NOT get lifetime free trading.
2. Annual Maintenance Charges (AMC)
Upstox Demat account has AMC.
Typical structure:
- First year: often discounted or free (promo-based)
- After that: AMC applies annually
This means the account is not lifetime free in the strict sense.
3. Government and Exchange Charges
No broker can remove these. They apply everywhere, including Upstox.
You will still pay:
- STT (Securities Transaction Tax)
- Exchange transaction charges
- GST
- Stamp duty
- SEBI charges
These go to regulators and exchanges like National Stock Exchange and BSE Limited.
⚠️ Even if brokerage is zero, these charges remain.
4. Call & Trade Charges
If you place orders through customer support instead of the app, Upstox charges extra.
This mainly affects beginners who rely on phone support.
5. DP Charges on Selling Delivery Stocks
This is the most misunderstood fee.
When you sell delivery shares, Upstox charges a DP (Depository Participant) fee.
Important:
- Applies only on selling
- Charged per scrip per day
- Not avoidable
So even “zero brokerage delivery” is not completely cost-free.
Complete Upstox Charges Breakdown (2026)
Let’s simplify everything in one table.
| Segment | Charges |
|---|---|
| Equity Delivery | â‚ą0 brokerage |
| Intraday | â‚ą20 per order |
| F&O | â‚ą20 per order |
| Mutual Funds | â‚ą0 commission |
| AMC | Applicable after promo period |
| DP Charges | Applicable on sell |
| Call & Trade | Extra |
Conclusion: Upstox is low-cost, but not fully free.
Key Features of Upstox (Why People Still Choose It)
Despite the confusion around pricing, Upstox remains popular. Let’s see why.
1. Clean and Fast Trading Platform
Upstox Pro (web and app) offers:
- Smooth interface
- Fast order execution
- Advanced charts
- Multiple order types
The platform works well for both beginners and active traders.
Real talk: It’s not perfect, but it’s among the better discount broker apps in India.
2. Advanced Charting Tools
Upstox integrates powerful charting features.
You get:
- Multiple timeframes
- Technical indicators
- Drawing tools
- TradingView charts
This helps traders make better decisions without needing external software.
3. Direct Mutual Funds
Investors love this feature because:
- No distributor commission
- Lower expense ratios
- Long-term wealth benefits
For SIP investors, this alone can save thousands over time.
4. IPO Investment Made Simple
Upstox allows easy IPO applications via UPI.
Process is simple:
- Select IPO
- Enter bid
- Approve mandate
Even beginners can apply in minutes.
5. Margin Trading and F&O Support
For active traders, Upstox supports:
- Intraday leverage
- Futures trading
- Options trading
- Basket orders
But remember — frequent trading means brokerage will apply.
Upstox Pros and Cons
Let’s keep it honest.
âś… Pros
- Zero brokerage on delivery
- Low-cost intraday and F&O
- Good mobile app
- Direct mutual funds
- Easy IPO process
- Regulated by SEBI
❌ Cons
- Not truly lifetime free
- AMC applies after offers
- DP charges on selling
- Customer support can be slow at times
- Extra charges for call & trade
Who Should Use Upstox?
Upstox is not for everyone. Let’s match it with user types.
Best For
Long-Term Investors
If you mainly:
- Buy stocks
- Hold for months/years
- Invest in mutual funds
Upstox works very well because delivery brokerage is zero.
Budget-Conscious Traders
If you trade but want low brokerage, â‚ą20 per order remains competitive.
DIY Investors
People who prefer managing investments themselves will enjoy the platform.
Not Ideal For
Heavy Intraday Traders
If you place dozens of trades daily, brokerage adds up quickly.
People Who Need Handholding
Customer support exists, but the platform suits self-directed users more.
Investors Expecting Fully Free Trading
If you want absolutely zero charges forever, that simply doesn’t exist in India due to regulatory costs.
Common Myths About Upstox (Busted)
Let’s clear the biggest misconceptions.
Myth 1: Upstox Is Completely Free
Reality: Only equity delivery brokerage is zero. Other charges remain.
Myth 2: No Charges Ever
Reality: AMC, DP charges, and statutory fees still apply.
Myth 3: Discount Broker Means Risky
Reality: Upstox operates under SEBI regulations. Your securities remain safe in the depository system.
Myth 4: Zero Brokerage Means Zero Cost
Reality: Government taxes and exchange fees always apply.
Hidden Charges You Should Watch
To build real trust, you must know these.
DP Charges on Sell
This surprises many beginners. Always factor it into delivery selling costs.
Auto Square-Off Charges
If intraday positions get auto squared off, brokers may apply additional fees.
Payment Gateway Charges
Some fund transfer methods may include small convenience fees.
Pledge Charges (For Margin)
If you pledge shares for margin trading, charges apply per request.
Upstox vs Other Discount Brokers (Quick View)
Without naming competitors, here’s where Upstox stands.
Strengths:
- Competitive brokerage
- Good mobile experience
- Strong brand growth
Areas where others may compete:
- Customer support speed
- Advanced trader tools (in some cases)
- AMC structures
Overall, Upstox remains a strong mid-to-top-tier discount broker.
Safety and Trust: Is Upstox Safe?
Yes — but let’s explain logically.
Upstox is:
- Registered with SEBI
- Member of major stock exchanges
- Uses depository systems for holdings
Your shares stay in your demat account, not with the broker directly.
Important: No broker can eliminate market risk. Platform safety does not equal profit guarantee.
Final Verdict: Is Upstox Lifetime Free?
Let’s answer clearly.
Upstox is NOT completely lifetime free.
However:
- Equity delivery brokerage = â‚ą0
- Mutual fund investing = free
- Trading costs = low but present
- AMC and DP charges = applicable
Honest Conclusion
If you want low-cost investing, Upstox is a solid choice.
If you expect zero charges forever, no Indian broker truly offers that.
Quick FAQs
Is Upstox free for beginners?
Partially. Delivery brokerage is free, but other charges still apply.
Does Upstox charge AMC?
Yes, usually after the promotional period.
Is Upstox good for long-term investing?
Yes. Zero delivery brokerage makes it suitable for investors.
Are there hidden charges?
Not hidden, but often misunderstood — especially DP charges and statutory fees.
Can I trade intraday for free?
No. Intraday trades attract brokerage.
Smart Tip Before You Open an Account
Always check the latest pricing page on the official Upstox website. Brokers sometimes revise charges or run limited-time offers.
A quick five-minute check today can save you money later.
