Angel One vs Upstox
Brokerage, charges, app and account-opening compared side-by-side for Angel One and Upstox — the verified numbers, not the marketing pitch.
Who each broker fits
Cost-conscious Indian investors and active traders who want a full-service discount broker with a single app spanning stocks, F&O, IPOs and mutual funds plus free trading APIs.
Cost-conscious DIY traders and investors who want a flat Rs 20 per-order broker with strong charting, direct mutual funds, and an API.
Angel One vs Upstox at a glance
The verified numbers side-by-side — broker size, account cost and headline brokerage on each broker’s default plan. The lower cost (or larger client base) in each row is highlighted. STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges apply on top — see the full landed cost on the brokerage calculator.
| Feature | Angel One | Upstox |
|---|---|---|
| Active clients (NSE) | 67.44 L | 19.62 L |
| Account opening | Zero (free) for resident trading and demat account opening | Rs 0 (free) |
| Demat AMC | First year free; Rs 60 + GST per quarter from year 2 for non-BSDA accounts | Rs 0 first year; Rs 354/year (Rs 300 + GST) for non-BSDA thereafter |
| Equity delivery | ₹20 / 0.1% (min ₹5) | Flat ₹20 |
| Equity intraday | ₹20 / 0.1% (min ₹5) | ₹20 / 0.1% |
| Futures | Flat ₹20 | ₹20 / 0.05% |
| Options | Flat ₹20 | Flat ₹20 |
| DP charges (sell side) | ₹20 | ₹20 |
| Default plan | Flat ₹20 | Flat ₹20 |
The apps compared
- Equity, F&O, commodities, and currency in one app
- ARQ Prime AI-driven advisory layer
- IPO application via UPI
- Smallcase and basket integrations
- Charts with technical indicators
- Flat ₹20 pricing surfaced on the order ticket
- Equity, F&O, currency, mutual funds, IPO
- Basket, cover, and bracket orders
Which one should you pick?
No single broker wins for every investor. The right pick depends on what you actually trade — and the “cheaper” broker on one segment can be the more expensive one on another. Use the calculators below to plug in your typical trade size and see the real landed cost for each.
Angel One is one of India's largest retail brokers.
Frequently asked
What people ask about Angel One vs Upstox.
On equity delivery, Angel One charges ₹20 / 0.1% (min ₹5) and Upstox charges Flat ₹20. On intraday, Angel One is ₹20 / 0.1% (min ₹5), Upstox is ₹20 / 0.1%. On options, Angel One is Flat ₹20, Upstox is Flat ₹20. Brokerage is one side of the story — STT, exchange transaction charges, SEBI fee, stamp duty, GST and DP charges also apply. Compare the all-in landed cost on the brokerage calculator before deciding.
Cost-conscious Indian investors and active traders who want a full-service discount broker with a single app spanning stocks, F&O, IPOs and mutual funds plus free trading APIs. Cost-conscious DIY traders and investors who want a flat Rs 20 per-order broker with strong charting, direct mutual funds, and an API. Beginners typically care more about the app experience and the onboarding flow than the last ₹2 of brokerage — open the apps on the Play Store or App Store and look at the one you would actually use every week.
Yes. SEBI allows multiple trading accounts. Your demat can be with one broker and a separate trading account with another. Many active traders keep two — a low-cost discount broker for execution and a full-service broker for research. Watch the AMC and inactivity charges on whichever account you use less.
Both are SEBI-registered and members of NSE / BSE. Demat sits with CDSL or NSDL — the broker doesn't hold your shares, the depository does. Funds are in a SEBI-regulated client bank account separate from the broker's own funds. The bigger risk to manage is account-level fraud (phishing, OTP sharing), which is identical across brokers.
Open the Upstox account online with PAN, Aadhaar and bank details. Then use the CDSL / NSDL "off-market transfer" / DIS or the new EASI-EASIEST transfer flow to move shares from Angel One's demat to Upstox's. You don't need to sell anything. Close the old account afterwards to stop the AMC.