Many people ask me who is my broker. Or which broker’s service do I use. So here’s the answer.
I have an account with Upstox that I’ve been using for a very long time and never felt the need to change.
If you want to register for the free account without reading: CLICK HERE (but I’d suggest reading this small page)
Upstox is a Ratan Tata funded startup and is one of the Highest Rated Application in India.
My experience with them is pretty great. They have a beautifully designed App that I use for my transactions on the go. I only recommend things that I personally use and I like their overall service.
Benefits they offer to new users: –
- Open your Demat & Trading Account Free (sometimes it’s charged but it’s free through my affiliate link).
- No brokerage for buying stocks for the long-term. (This is a great advantage as I buy in small quantities frequently whenever the prices go down. So you have no fear or worry of charges).
- You only pay (0.05% or ₹20, whichever is lower) per order only when you sell. (I personally don’t sell often as I only buy and accumulate more and more stocks. I enjoy the dividends which get credited directly to the bank account).
- Currently, Upstox is offering 3-in-1 account. (Saving Account + Demat Account + Trading Account for free, in case you want to get rid of transferring funds from your bank to Demat Account).
Along with this, their account opening process is quite smooth. If there’s any difficulty, they’ll follow up. (They followed up with me several times for pending documents).
There is an account maintenance charge which is not clearly visible on their website. It’s hidden somewhere but I’m telling you up front because I like to be transparent. The account maintenance charge (as per their help center page) is ₹25 (excluding GST), which will be charged at the end of every month. if I add 18% GST and make it yearly then it’s approx ₹354. It’s good enough as it’s a discount broker. If we look for cheaper brokers then their platform I think would not be reliable. Other traditional brokers like the banks charge very high and they offer tips and advice which is useless (many times dangerous).
I buy great companies based on my own analysis, I’d suggest you do the same. Buy stocks only when you want to become the owner, hold them tight, get dividends directly into your linked bank account.