Upstox vs Axis Direct – Comparison
Both Upstox and Axis Direct offer various facilities and trading products to their traders. When an individual trader is going to choose one of them, then he needs to understand & analyze them relatively.
It will lead him to a better decision making ability. Here we have compared Upstox vs Axis Direct to highlight the areas where the investor needs to know & analyze more.
Upstox, as a stockbroker, has support from notable and renowned stock traders like Ratan Tata, GVK Davis, and Capital Kalaari and is a member of BSE, NSE, MCX, and MCX-SX and lets one trade in Equity, Futures, Options, Currency and Commodity.
The name Axis Direct is quite familiar as it is a part of the lineage of Axis Group subsidiary of Axis Bank Ltd., which provides a wide range of financial solutions.
Axis Direct is also subscribed to BSE, NSE, MCX, and MCX-SX which helps customers trade-in multiple dimensions from Equity and Derivative Trading, Currency Trading, Mutual Funds, Bonds, IPO, NCDs, etc.
Upstox Vs Axis Direct Overview:
Established in the year 2009, with a vision to explore how trading can be made easier and cheaper, Upstox was formed.
Going forward, the company became the first to introduce unlimited plans for trading with a fixed price with a traded turnover that hit 4000 Cr. at NSE in February 2016.
Axis Direct started its journey in the year 2011. Credited with Awards & Accolades, for enabling “Better Online Trading” (DMA Asia ECHO Awards – Silver),
“First Foot Forwards on Evolving Regulatory Developments” (MCX Awards) and “Top Equity Broker of the Year” (BSE Commodity Equity Outlook Award).
Through their powerful research team, using advanced tools in multiple trading platforms, Axis Direct has spread its diversity into Equity, Derivatives, SIP, NCDs, Bonds, and company FDs, Initial Public Offering, Mutual Funds, ETFs and Tax Planning.
|Broker Type||Discount Broker||Full-Service Broker|
|Headquarters||Mumbai, India||Mumbai, India|
|Founder||Raghu Kumar, |
Ravi Kumar &
Upstox Vs Axis Direct Customer Ratings:
The figure below from different public platforms shows various aspects in terms of customer experience.
It is noticed that Axis Direct has consistency in every individual parameter, while, Upstox’s parameter fluctuates from as low as 3.0 to as high as 9.5.
The average comes to 6.3 for Axis Direct and 6.16 for Upstox which are close to each other, which reflects in “Star Ratings” as 3 for both.
|Customer Ratings||Upstox||Axis Direct|
|Products & Services||6.5/10||6.5/10|
|Brokerage Charges & Fees||9.5/10||6.2/10|
|Stock Research & Advisory||3.0/10||6.3/10|
Comparison on AMC & AOC:
For AMC & AOC of Upstox and Axis Direct, it’s quite noticeable that there is a vast difference in Account Opening Charges between the two, where Upstox charges a nominal charge and Axis Direct charges over 6 times than that of Upstox’s charge.
Also, Upstox has no Margin Money charges whereas Axis Direct charges Rs.25,000 for the same.
|DEMAT Services||Upstox||Axis Direct|
|Depository Source||CDSL||CDSL & NSDL|
|Account Opening Charges||Rs.150||Rs.999|
|DEMAT AMC Charges||Rs.150 per Annum||Rs.650 per annum|
|Trading AMC Charges||Free||Free|
|Offline to Online||No||No|
Upstox Vs Axis Direct Brokerage Fee:
In the brokerage fee, it’s noticeable that Upstox has a policy of fixed charge, whereas Axis Direct charges based on percentage.
It is also noticeable that Upstox does not charge any amount on Equity Delivery Trading. Below we have compared Upstox vs Axis Direct based on their brokerage charge structure:
|Brokerage Charge & Fees||Upstox Brokerage||Axis Direct Brokerage|
|Equity Delivery Trading||Zero||0.20% – 0.60%|
|Equity Intraday Trading||Rs.20||0.03% – 0.05%|
|Commodity Options Trading||Rs.20||NA|
|Equity Futures Trading||Rs.20||0.03% – 0.05%|
|Equity Options Trading||Rs.20 per lot||Rs.10 per lot|
|Currency Futures Trading||Rs.20||0.03% – 0.05%|
|Currency Options Trading||Rs.20 per lot||Rs.10 per lot|
|Minimum Brokerage||Rs.20||Percentage of Transaction|
|Demat AMC Charges||Rs.150 per annum||Rs.650 per Annum|
|Trading AMC Charges||Free||Free|
Comparison of Other Charges:
For compliance, there is no difference. However, there is a transaction charge where Upstox charges less, as compared to Axis Direct.
Below we have compared Upstox vs Axis Direct based on administrative charges structure.
|Other Charges||Upstox||Axis Direct|
|Transaction Charges||0.00275% of Total Turnover||0.00325% of Total Turnover|
|STT||0.0126% of Total Turnover||0.0126% of Total Turnover|
|SEBI Turnover Charges||0.0002% of Total Turnover||0.0002% of Total Turnover|
|Stamp Duty||Depends on State (very minimal)||Depends on State (very minimal)|
|GST||18% of (Brokerage + Transaction Charges)||18% of (Brokerage + Transaction Charges)|
Comparison of Offers & Discount:
The table below shows that Upstox gives leverage for getting a free Trading Account and discounts on Brokerage, but Axis Direct gives customers, the option to choose flexible Brokerage Plans.
Below we have compared Upstox vs Axis Direct based on the number of offers given:
|Free Demat Account||✖||✖|
|Free Trading Account||✔||✖|
|Discount on Brokerage||✔||✖|
|Trading Happy Hours||✖||✖|
|Flexible Brokerage Plans||✖||✔|
|1 Month Brokerage Free||✖||✖|
|Zero Brokerage for |
Loss Making Trades
Comparison on Services Offered:
Axis Direct provides all services except Robo Advisory and Trading Institution whereas Upstox provides only Demat, Trading, Intraday and IPO services along with Robo Advisory. Below we have compared Upstox vs Axis Direct based on the services provided.
|3 in 1 Account||✖||✔|
|Trading Exposure||Maximum 20x||Maximum 15x|
Upstox Vs Axis Direct Research & Advisory:
For growth and performance, researches and bits of advice with proper reporting play a critical role which leads to a systematic workflow.
It’s astonishing to see, Upstox doesn’t have any such activities, whereas, Axis Direct participates in all the reporting and advisory systems except Free Stock Tips and Daily Market Reviews.
Below we have compared Upstox vs Axis Direct based on the research & advisory role they play.
|Research & Advisory||Upstox||Axis Direct|
|Company Stock Review||✖||✔|
|Free Stock Tips||✖||✖|
|Daily Market Review||✖||✖|
Upstox Vs Axis Direct Margin/ Exposure/ Leverage
The simple table below itself is self-explanatory with a clear view of the mix and mixture of leverage system by Upstox and Axis Direct. The only noticeable point is, Axis Direct has no leverage for Commodities.
|Exposure / Leverage||Upstox Margin||Axis Direct Margin|
|Equity Delivery||Maximum 5x||Maximum 10x|
|Equity Intraday||Maximum 20x||Maximum 15x|
|Equity Futures||Maximum 7x||Maximum 12x|
|Equity Options||Maximum 8x||Maximum 12x|
|Currency Futures||Maximum 5x||Maximum 7x|
|Currency Options||Maximum 6x||Maximum 8x|
Comparison on Products:
When comparing product-wise, Upstox is limited to only a few, and Axis Direct deals with a vast range of products with the only exclusion of Commodity Trading. Below we have compared Upstox vs Axis Direct based on the number of product they offer:
Comparison on Trading Platform:
With the rapid grown in technology, being techie while using the best Trading Platform is the most important aspect and art of doing business in terms of profitability as well as customer experience.
The table below has a clear picture that both Upstox and Axis Direct are engaged with a robust technology system except, none of them uses mobile App technology at this mobile age.
Below we have compared Upstox vs Axis Direct based on their trading platform offering:
|Trading Platforms||Upstox||Axis Direct|
|Desktop Platform – Windows||✔||✔|
|Desktop Platform – Mac||✔||✔|
|Desktop Browser Platform||✔||✔|
|Mobile Site Platform||✔||✔|
|Android App Platform||✔||✔|
|iOS App Platform||✔||✔|
|Windows App Platform||✖||✖|
|Other Mobile OS Platform||✖||✖|
|Online MF Buy||✔||✔|
Upstox Vs Axis Direct Customer Support:
Dealing with customers and in turn, supporting them is the key to business nowadays. The table below shows that Upstox is limited to Online Trading support along with a phone and email support.
Whereas, Axis Direct has multiple support systems for its customers along with Dedicated Dealer and Offline Trading with 186 branches spread all over.
Below we have compared Upstox vs Axis Direct based on their customer support abilities.
|Customer Support||Upstox||Axis Direct|
|Support Number||022 – 6130 9999||1800 210 0808|
|Toll-Free Number||✖||1800 210 0808|
Comparison on Complaints Handled:
Complaint handling efficiency is one of the key parameters to measure customer satisfaction.
The table clears that Upstox has more complaints logged in BSE and Axis Direct has more complaints in NSE. Below we have compared Upstox vs Axis Direct based on the number of handled complaints.
|Complaints (Current Year)||Upstox||Axis Direct|
|Lodged in BSE||185||129|
|Resolved in BSE||126||115|
|Lodged in NSE||175||189|
|Resolved in NSE||139||165|
In brief, Upstox and Axis Direct both have pros and cons. It is the user who needs to decide the right broker as per their actual need and the type of trade one needs to do.