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Upstox Vs Axis Direct Comparison: Find the Best Discount Broker

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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
Upstox vs Axis Direct

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),

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“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.

OverviewUpstoxAxis Direct
Company TypePrivatePrivate
Broker TypeDiscount BrokerFull-Service Broker
HeadquartersMumbai, IndiaMumbai, India
FounderRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
Arun Thukral
Established Year20092011

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 RatingsUpstoxAxis Direct
Experience5.3/106.2/10
Products & Services6.5/106.5/10
Brokerage Charges & Fees9.5/106.2/10
Stock Research & Advisory3.0/106.3/10
Trading Platforms6.5/106.3/10
Overall Ratings6.2/106.3/10
Star Ratings★★★☆☆★★★☆☆

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 ServicesUpstoxAxis Direct
Depository SourceCDSLCDSL & NSDL
Account Opening ChargesRs.150Rs.999
DEMAT AMC ChargesRs.150 per AnnumRs.650 per annum
Trading AMC ChargesFreeFree
Margin MoneyZeroRs.25,000
Offline to OnlineNoNo

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.

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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 & FeesUpstox BrokerageAxis Direct Brokerage
Equity Delivery TradingZero0.20% – 0.60%
Equity Intraday TradingRs.200.03% – 0.05%
Commodity Options TradingRs.20NA
Equity Futures TradingRs.200.03% – 0.05%
Equity Options TradingRs.20 per lotRs.10 per lot
Currency Futures TradingRs.200.03% – 0.05%
Currency Options TradingRs.20 per lotRs.10 per lot
Minimum BrokerageRs.20Percentage of Transaction
Demat AMC ChargesRs.150 per annumRs.650 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroRs.25,000

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 ChargesUpstoxAxis Direct
Transaction Charges0.00275% of Total Turnover0.00325% of Total Turnover
STT0.0126% of Total Turnover0.0126% of Total Turnover
SEBI Turnover Charges0.0002% of Total Turnover0.0002% of Total Turnover
Stamp DutyDepends on State (very minimal)Depends on State (very minimal)
GST18% 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:

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OffersUpstoxAxis Direct
Free Demat Account
Free Trading Account
Discount on Brokerage
Trading Happy Hours
Flexible Brokerage Plans
1 Month Brokerage Free
Holiday Offers
Referral Offers
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. 

ServicesUpstoxAxis Direct
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 20xMaximum 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 & AdvisoryUpstoxAxis Direct
Fundamental Reports
Research Reports
Company Reports
Annual Reports
Company Stock Review
Free Stock Tips
IPO Reports
Top Picks
Daily Market Review
Monthly Reports
Weekly Reports
Offline Advisory
Relationship Manager

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 / LeverageUpstox MarginAxis Direct Margin
Equity DeliveryMaximum 5xMaximum 10x
Equity IntradayMaximum 20xMaximum 15x
Equity FuturesMaximum 7xMaximum 12x
Equity OptionsMaximum 8xMaximum 12x
Currency FuturesMaximum 5xMaximum 7x
Currency OptionsMaximum 6xMaximum 8x
CommoditiesMaximum 7xNA

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:

ProductsUpstoxAxis Direct
Equity Trading
Commodity TradingNo
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

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 PlatformsUpstoxAxis 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
Real-time Updates
Portfolio Details
Online MF Buy
News Flash
Research Reports
Easy Installation
Global Indices
Stock Tips
Personalized Advisory
Interactive Charts
Live Markets
SMS Alerts
Email Alerts
Multi-Account Management

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 SupportUpstoxAxis Direct
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number022 – 6130 99991800 210 0808
Email Support
Chat Support
Toll-Free Number1800 210 0808
BranchesZero186
Axis Direct Free Demat account
Upstox Vs Axis Direct – Axis Direct Free Demat account

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)UpstoxAxis Direct
Lodged in BSE185129
Resolved in BSE126115
Lodged in NSE175189
Resolved in NSE139165

Conclusion:

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.

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