ProStocks and Upstox both are discount brokers, but with a lot of differences in brokerages, margins and charges.
Upstox has a great trading platform, charting tools and offers a higher margin for traders. Intraday margins available with Upstox (15X) are more than double that of ProStocks margin of (7X).
ProStocks has an edge when it comes to AMC charges and unlimited trading plans. The AMC is lifetime free with Rs. 0 fee. But you need to pay an upfront Rs. 1000 refundable deposit fee.
Below is the side by side comparison of Upstox vs Prostocks
ProStocks vs Upstox
| Particulars | Upstox | ProStocks |
| Can trade-in | Stocks, Equity F&O, Currency F&O, and Commodity F&O | Stocks, Equity F&O and Currency F&O |
| Brokerage Charges | Details for Upstox Basic Plan | Details for ProStocks Plan |
| Equity delivery | Rs. 0 | Zero Brokerage |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.05% | Rs. 15 Per Executed Order |
| Futures- Equity, Currency | Lower of Rs. 20 per executed order or 0.05% | Rs. 15 Per Executed Order |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.05% | N.A. |
| Options (Equity, Currency) | Rs. 20 per executed order | Rs. 15 Per Executed Order |
| Commodity Options | Rs. 20 per executed order | N.A. |
| Margin for Intraday | 15X | 7X |
| Margin for OC/ OCO | 20X | 10X |
| Account Opening Charges | Upstox | ProStocks |
| Demat & Trading Account | Rs. 200 | Rs. 0 |
| Demat AMC Fees | First Year – Rs. 100 Second-year onwards – Rs. 150 | Rs. 0 |
| Commodity Account | Rs. 150 | N.A. |
| Trading Platforms | Upstox Pro Web Upstox NEST Trader | ProStocks Desktop ProStocks Web |
| Trading App | Upstox Pro App | ProStocks Mobile App |
Check in-depth details of both Prostock and Upstox w.r.t their brokerages, margins and charges.
Upstox Demat & Trading Account Review
Upstox is backed by Tiger Global, Ratan Tata, and GVK Davix and was earlier known as RKSV Securities.
Upstox demat and trading account is best for volume intraday traders looking for higher margins (up to 20X), low brokerages, and advanced trading platforms.
You have the option to trade fast on Upstox Pro Web, Pro Mobile App, and NEST trading platforms.
For advanced traders, Upstox also has partnered platforms like Dartstock and Fox Trader with advanced charting and trading tools with backtesting facilities.
Upstox Brokerage Charges
At Upstox there are two trading plans, namely the Basic Plan and the Priority Plan.
| Trading Type | Brokerage Charges for Basic Plan | Brokerage Charges for Priority Plan |
| Equity Delivery | Rs. 0 | Rs. 0 |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Equity Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Currency Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.05% | Lower of Rs. 30 per executed order or 0.10% |
| Equity Options | Rs. 20 per executed order | Rs. 30 per executed order |
| Currency Options | Rs. 20 per executed order | Rs. 30 per executed order |
| Commodity Options | Rs. 20 per executed order | Rs. 30 per executed order |
Upstox has a “Call and Trade” facility as well, however you have to pay Rs. 20 per order.
Margin Available on Upstox Trading Account
New traders can start with the Upstox Basic plan.
Priority trading pack is for professional intraday traders looking for more leverage. Upstox charges Rs. 999 per month for Equities, F&O, and CDS and Rs. 499 per month for commodities under the plan.
Upstox margin for Intraday
| Segment | Basic | Priority Pack |
| NSE/ BSE Cash | 15X | 20X |
| Index Futures | 3X | 6X |
| Stock Futures | 3X | 3X |
| Index Option Sell | 3X | 6X |
| Stock Option Sell | 3X | 3X |
| NSE Currency | 4X | 4X |
| MCX Futures | 2.5X | 3X |
| Segment | Basic | Priority Pack |
| NSE/ BSE Cash | 20X | 27X |
| Index Futures | 20X | 28X |
| Stock Futures | 5X | 6X |
| Index Option Sell | 3X | 4X |
| Stock Option Sell | 3X | 3X |
| NSE Currency | 4X | 5X |
| MCX Futures | 3X | 4X |
| NSE Option Buy | 1.33X | 2X |
Upstox Demat and Trading Account Opening Charges
The paperless account opening process at Upstox can be completed using Aadhaar OTP.
Upstox offers a 2-in-1 (demat + trading) account.
Upstox does not charge a fee for opening a Demat account but charges a Demat AMC fee of Rs. 100 for the first year. The fees for opening a trading account is Rs. 200.
Upstox Charge
- Upstox equity demat and trading – Rs. 300 (includes first year AMC)
- Upstox commodity trading account– Rs. 150
- Upstox demat annual maintenance charges – Rs. 150 (2nd year onwards)
However, if you are interested in 3-in-1 account then you can open Upstox 3-in-1 account in collaboration with Indusind bank. You can easily transfer funds from your savings account to demat account.
You will also earn interest on unused funds in your savings account.
Best For
Traders looking for advanced trading platforms and high margins should go with Upstox broking.
Pros
- Rs. 0 brokerage charges for delivery
- Great trading platforms
- No Demat opening charges
Cons
- You cannot make direct IPO and FPO investments
- No unlimited plans
ProStocks Demat & Trading Account Review
ProStocks, founded in 2016, is a discount broking brand of Sunlight Broking LLP.
ProStocks is for intraday traders and stock investors looking for cost savings while trading. You can benefit from the flat brokerage of Rs. 15 per executed order irrespective of the trading volume and zero AMC charges.
You can trade in stocks (delivery & intraday), equity F&O, and currency F&O. Presently, ProStocks does not provide trading in commodity F&O and investment in mutual funds.
ProStocks Brokerage Charges
ProStocks charges a flat Rs. 15 per executed order on most of the trading products & segments. This is lower than the maximum brokerage of Rs. 20 charged by Upstox.
The brokerage details are as under
| Trading Segments | Brokerage |
| Equity Delivery | Zero Brokerage |
| Equity Intraday | Rs. 15 Per Executed Order |
| Equity Futures | Rs. 15 Per Executed Order |
| Equity Options | Rs. 15 Per Executed Order |
| Currency Futures | Rs. 15 Per Executed Order |
| Currency Options | Rs. 15 Per Executed Order |
If you trade in large numbers then you can benefit from ProStocks unlimited trading plans for a fixed price.
The unlimited trading brokerages are under
| Trading Segments | Unlimited trading in an exchange for a month | Unlimited trading in an exchange for a year |
| Equity (delivery & intraday) and Equity Derivatives | Rs. 899 per month | Rs. 8,999 per year |
| Currency Futures and Options | Rs. 499 per month | Rs. 4,999 per year |
The “Call & Trade ” facility for intraday and F&O is charged at Rs. 10 per trade. The delivery trades are charged at Rs. 25 per trade.
Margin Provided on ProStocks Demat Account
The margins available at ProStocks are on a lower side when compared to Upstox.
ProStocks also does not use one client’s money for providing exposure to another client nor uses it for its own exposure.
The margin details are below
| Trading Segment | Margins |
| Equity Delivery (Cash and carry) | One time |
| Equity Intraday (MIS) | Seven-time |
| Equity Intraday F&O (MIS) | One time |
| Currency F&O (NRML) | One time |
| Equity Cover Order (Intraday) | 10 times |
ProStocks Account Opening Charges
Presently, ProStocks does not levy any account opening or AMC charges. The account opening charges of Rs 300, is waived currently as a promotional offer.
Following are the charges for opening an account online
| Particulars | Charges |
| Trading and Demat account opening charges | Rs. 0 |
| Trading account annual maintenance charges | Rs. 0 |
| Demat account annual maintenance charges | Rs. 0 |
However, it collects a refundable fee of Rs. 1000 upfront during the account opening. The fees are refunded at the time of the account closing.
ProStocks Stock Trading Platforms
Traders have access to two sets of trading platforms
- In-house ProStocks trading platforms
- NSE NOW trading platforms
The NSE NOW is provided by NSE Stock Exchange and supported by your broker.
Here, I am providing the details of ProStocks’s own trading software only. The ProStocks trading platform supports new traders as well as frequent traders.
#1. ProStocks Desktop Trading Platform
ProStocks Desktop is a downloadable trading application. The desktop platform also helps you to place orders right from the charts in the bulk trade watch and stock action watch features.
The platform offers 6 real-time charts with advanced analysis tools for quick analysis and strategy building. Intraday traders can open up to 7 charts simultaneously. The intraday tick-by-tick chart is for periods ranging from 1minute, 5 minutes and up to yearly charts.
One can have unlimited scrips included in the market watch, a customizable default screen (with user-defined colors) and a trading analysis window.
#2. ProStocks Web Trading Platform
ProStocks web is an HTML/ browser-based application that has all the features of a desktop terminal within the browser window.
The platform needs an internet connection and can be accessed on a range of devices like PC, desktop, tablet and mobiles.
The best part of the web platform is that
- It does not require a download of software on individual PC
- You do not have to enforce version check
- All the updates and bug fixing happens online
#3. ProStocks Mobile App Review
ProStocks Mobile App is a smartphone-based trading platform that helps you get real-time access to quotes and trading on mobile devices.
ProStocks Mobile App is compatible with iOS and Android smartphones. The app is lightweight with 23.3 MB size on iPhone and 6.8 MB on Android devices.
However, the app is rated only 2.9 on the Google Play store and there are poor reviews regarding app usability and the updates of the charts being out of sync with the real-time market prices.
Best For
ProStocks is best for traders who are looking for cost savings and want a high number of trades.
They can take advantage of the unlimited monthly and yearly plans. Additionally, traders save annual trading costs from Rs. 0 AMC charges.
Pros
- Zero account opening and AMC charges
- No proprietary trading
- Can place orders from charts, bulk watch and advance tick watch window
- Unique unlimited monthly and yearly trading plans for a fixed fee
Cons
- Low mobile app usability & delayed charts updates
- Low margins available as compared to Upstox
- Rs. 1000 upfront refundable amount collected while account opening
ProStocks vs Upstox (Comparison Table)
| Particulars | Upstox | ProStocks |
| Can trade-in | Stocks, Equity F&O, Currency F&O, and Commodity F&O | Stocks, Equity F&O and Currency F&O |
| Can invest in | Mutual funds | N.A. |
| Brokerage Charges | Details for Upstox Basic Plan | Details for ProStocks Plan |
| Equity delivery | Rs. 0 | Zero Brokerage |
| Equity Intraday | Lower of Rs. 20 per executed order or 0.05% | Rs. 15 Per Executed Order |
| Futures (Equity, Currency) | Lower of Rs. 20 per executed order or 0.05% | Rs. 15 Per Executed Order |
| Commodity Futures | Lower of Rs. 20 per executed order or 0.05% | N.A. |
| Options (Equity, Currency) | Rs. 20 per executed order | Rs. 15 Per Executed Order |
| Commodity Options | Rs. 20 per executed order | N.A. |
| Charges for Call and Trade | Rs. 20 per order | Intraday & F&O – Rs. 10 per trade Delivery – Rs. 25 per trade |
| Margin for Intraday | Details for Upstox Basic Plan | Details for ProStocks Plan |
| NSE/ BSE Cash | 15X | Seven-time |
| Index Futures | 3X | N.A. |
| Stock Futures | 3X | One time |
| Stock/ Index/ Currency Option Sell | 3X | One time |
| Currency Futures | 4X | One time |
| Commodity/ MCX Futures | 2.5X | N.A. |
| Margin for OC/ OCO | Details for Upstox Basic Plan | Details for ProStocks Plan |
| NSE/ BSE Cash | 20X | Ten times (Cover Orders) |
| Index Futures | 20X | N.A. |
| Stock Futures | 5X | N.A. |
| Index/ Stock Option Sell | 3X | N.A. |
| Currency Futures | 4X | N.A. |
| MCX Futures | 3X | N.A. |
| NSE Option Buy | 1.33X | N.A. |
| Account Opening Charges | Upstox | ProStocks |
| Demat & Trading Account | Rs. 200 | Rs. 0 |
| Demat AMC Fees | First Year – Rs. 100 Second-year onwards – Rs. 150 | Rs. 0 |
| Commodity Account | Rs. 150 | N.A. |
| 3-in-1 account | IndusStox 3-in-1 account | None |
| Trading Platforms | Upstox Pro Web Upstox NEST Trader | ProStocks Desktop ProStocks Web |
| Partnered Platform/ software | Dartstock software Fox Trader | None |
| Trading App | Upstox Pro App | ProStocks Mobile App |
Why You Might Prefer ProStocks
ProStocks brokerage plans are for new and regular traders where intraday margins are limited to 7X.
The lower margins are safe for new traders, in sense, they limit the leverage and does not expose you to higher losses.
Apart from that, you can benefit from zero AMC charges and account opening fees. But when you account for the refundable deposit of Rs. 1000 and the monthly plan charges then the overall trading cost shoots up.
Why You Might Prefer Upstox
Upstox’s Basic plan is for entry-level traders and investors, where they can learn trading and test markets and their strategies. With experience, they can switch to the higher Priority plan.
Upstox does levy a monthly charge for getting higher margins but that helps you trade higher volumes. Their trading platforms are loaded with advanced tools and 100 plus indicators, are fast and far better than ProStocks.
Professional traders can integrate APIs and bridge for AmiBroker for Algo trading. Upstox helps you get started on a very low-cost structure and perfect trading platform.
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