Unveiling Upstox’s True Fees: A Comparison with Zerodha
Many investors, including myself, are wondering why Upstox is often advertised as having low fees. Comparatively, Zerodha appears to charge significantly less than Upstox. In this article, we will delve into the discrepancies noticed when selling shares from the demat account, uncover the reality behind Upstox's free demat and trading account offers, and explore why Upstox has not yet addressed these concerns.
Comparison with Zerodha: An Insight into Fees
It is a common misconception that Upstox charges lower fees compared to Zerodha. When I conducted research and compared the fees charged by both platforms, I found that Upstox’s fees actually exceed Zerodha’s by approximately 10%. This might not seem like a significant difference to some, but for frequent traders, this can add up over time.
When I sold shares from my demat account, I noticed that the upstox charges amounted to around 10% higher than what I paid through Zerodha. This unexpected finding piqued my curiosity and led me to investigate further.
The Reality Behind Free Offers
Another aspect that caught my attention is the numerous free offers that Upstox claims to provide. For instance, they occasionally advertise free demat and trading account offers. However, a closer inspection reveals that these offers do not come without a cost. I decided to open five demat accounts for family members, only to find out that each account comes with a charge over INR 450.
This evidence suggests that while Upstox may tout free offers, they do come with hidden costs. As a seasoned investor, I have always been wary of offers that sound too good to be true. This is especially true when it comes to demat and trading accounts, which often incur unexpected fees.
The Lack of Response from Upstox
My next step was to reach out to Upstox to express my concerns regarding the discrepancy in charges and the misleading claims about free offers. Sadly, I did not receive a response from them. I reached out through their customer support channels, but my inquiries remained unanswered. This lack of communication is alarming and indicative of a company that may not take customer feedback seriously.
Conclusion
In conclusion, when it comes to Upstox fees, many investors need to shed light on the reality behind the claims of low fees and free offers. Comparing Upstox with Zerodha shows that there is a notable difference in charges, and the hidden costs in free offers can be a red flag for potential investors. Additionally, the absence of a response from Upstox is a major concern that reflects a lack of accountability.
As a proactive and informed investor, it is crucial to verify the truth behind advertised offers and to hold companies accountable for their claims. By sharing this information, we aim to help others make more informed decisions and to encourage Upstox to provide transparent and honest information to its customers.