FlatTrade Vs Upstox: Comparison of Charges, Services Offered Etc

Table of Contents

FlatTrade Vs Upstox: A Comprehensive Comparison

Which One is Better – FlatTrade or Upstox? 

Conclusion

Are you looking for a comprehensive comparison of FlatTrade and Upstox, two prominent players in the world of stock trading and investment in India? FlatTrade Trading Corporation, which you might know as Fortune Capital Services Private Limited, is a reputable discount stock broking firm situated in Chennai. Seasoned bullion spot trader Mr. K. Narayan Moorthy, who opened up the company in 2004, steered FlatTrade to its notable stand in the Indian stock market.

Conversely, Upstox is an officially certified broker providing a variety of online trading services across multiple sectors. The firm maintains affiliations with India’s prominent stock exchanges, such as NSE, BSE, and MCX. For investors seeking global diversification, Upstox proposes an attractive solution through the Upstox Global Investment Account.

Open an account with Upstox.

FlatTrade Vs Upstox: A Comprehensive Comparison

Here is our FlatTrade Vs Upstox comparison, based on various parameters such as charges, services offered, trading platforms and more.

FlatTrade Vs Upstox: Geographical Presence

• FlatTrade: Has a strong hold on the southern part of India.
• Upstox: While the geographical presence of Upstox is not explicitly mentioned in the provided information, Upstox is a relatively well-known and widely used brokerage platform with a broader presence across India compared to FlatTrade’s regional focus.

Go through our FlatTrade Review 2023 – Services, Charges, Pros, Cons and More.

FlatTrade Vs Upstox: Account Types

• FlatTrade: Offers Demat and Mutual Fund Investment accounts.
• Upstox: Offers Demat, Commodity Trading, Equity Trading, Derivatives Trading, Currency Trading, and Mutual Funds accounts. Upstox offers a more extensive range of account types compared to FlatTrade.

FlatTrade Vs Upstox: Account Opening

• FlatTrade: Offers zero brokerage and free account opening.
• Upstox: Upstox also offers free demat account opening.

FlatTrade Vs Upstox: Charges

Here is a FlatTrade Vs Upstox comparison based on different fees that are charged:

FlatTrade Vs Upstox: Brokerage Charges

• FlatTrade: ₹10 per order for both Intraday and Delivery trading.
• Upstox: Charges a maximum of ₹20 per order for various trading segments. Upstox’s charges are competitive and affordable.

FlatTrade Vs Upstox: Annual Maintenance Charges (AMC)

• FlatTrade: No AMC for trading and demat account.
• Upstox: Charges an annual maintenance fee for demat account maintenance, which is Rs. 150 per year along with applicable GST.

FlatTrade Vs Upstox: Transaction Charges

• FlatTrade: Transaction charges vary across segments and are competitive.
• Upstox: Transaction charges are not explicitly mentioned, but they typically depend on the type of transaction and segment.

FlatTrade Vs Upstox: STT/CTT

• FlatTrade: Competitive STT/CTT charges depending on the segment.
• Upstox: STT/CTT charges are not explicitly mentioned, but they typically depend on the type of transaction.

FlatTrade Vs Upstox: GST

Both FlatTrade and Upstox charge 18% GST on relevant charges.

FlatTrade Vs Upstox: SEBI Charges

Both FlatTrade and Upstox charge ₹10 per Cr for Equity, Currencies, and Commodities (Delivery & FNO) trading.

FlatTrade Vs Upstox: Trading Platforms

• FlatTrade: Offers various online trading platforms, including mobile apps, EXE-based trading, and web-based trading.
• Upstox: Provides a mobile trading application and online trading platforms for a better trading and investing experience. Upstox also offers advanced charting and portfolio management features through its desktop trading software.

FlatTrade Vs Upstox: Services Offered

• FlatTrade: Covers Equities, Derivatives, Commodities, and Currency Derivatives. It provides a wealth management platform through Mutual Funds.
• Upstox: Offers online equity, derivative, commodity, and currency trading services. It provides mutual funds, margin trading services, and loans against shares. Upstox has a wide range of investment options, including bonds and IPOs.

FlatTrade Vs Upstox: Mutual Fund Investment

• FlatTrade: Provides an online investment platform for wealth management through mutual funds.
• Upstox: Offers a wide range of investment products like mutual funds from major fund houses in India.

FlatTrade Vs Upstox: Customer Support

• FlatTrade: Provides 24*7 customer support and claims to have fast mobile support.
• Upstox: Offers customer support through various channels, including online chat, email, and phone support. It also has a physical presence in various locations.

Check out – Upstox Broker Products and Services 2023.

Which One is Better – FlatTrade or Upstox? 

Determining which brokerage is better between FlatTrade and Upstox depends on your specific needs and preferences as a trader or investor. Both platforms have their own strengths and weaknesses, so it’s important to consider what matters most to you. Here are some factors to consider:

FlatTrade may be better for you if:

1. You Prefer a Regional Focus: If you are located in the southern part of India and prefer a brokerage with a strong regional presence, FlatTrade could be a suitable choice as it has a stronghold in this region.
2. Simplified Pricing: FlatTrade offers a straightforward pricing structure with a flat fee of ₹10 per order for both Intraday and Delivery trading, which can be cost-effective for traders.
3. Mutual Fund Investment: If you are primarily interested in investing in mutual funds and want a platform that specializes in wealth management through mutual funds, FlatTrade offers this service.
4. Zero AMC: FlatTrade does not charge Annual Maintenance Charges (AMC) for trading and demat accounts, which can be cost-saving.

Upstox may be better for you if:

1. Diverse Account Types: Upstox offers a wider range of account types, including Demat, Commodity Trading, Equity Trading, Derivatives Trading, Currency Trading, and Mutual Funds. If you require more flexibility in your trading and investment activities, Upstox provides a broader spectrum of account options.
2. Geographical Presence: Upstox has a more extensive presence across India, making it accessible to traders and investors in various regions.
3. Advanced Trading Features: Upstox provides advanced trading features, including a desktop trading software (Upstox Pro) with advanced charting and portfolio management capabilities. This can be appealing to more experienced traders who rely on technical analysis.
4. Margin Trading and Loan Against Shares: Upstox offers margin trading services and loans against shares, which can provide additional financial flexibility.
5. Customer Support Options: Upstox offers various customer support channels, including online chat, email, phone support, and physical branches, which can be valuable for different types of traders.

While FlatTrade and Upstox both have their unique features and advantages, Upstox offers a broader range of services and a wider geographical presence compared to FlatTrade.

Open an account with Angel One.

Conclusion

So that was our Flattrade and Upstox comparison. Ultimately, the choice between the two should align with your specific trading goals, geographical location, and the features that matter most to you. Consider your trading style, account needs, and the level of support you require when making your decision. It is also a good idea to test their respective platforms with a demo account or small investments to get a feel for which of these suit you best.