Upstox Vs Finvasia – Comparison Review
Comparing Upstox vs Finvasia in terms of all product-wise details which are essential for every investor we get the detailed study. In this comparative assessment, we focused on the advantages and disadvantages of both the broker for the knowledge of investors.
Upstox started as a stockbroker in the year 2009 with backend 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.
Finvasia is a renowned discount broker established in the year 2013 and within a very less period, it has got huge popularity.
Apart from their services in India, Finvasia also advises its clients on investments in fourteen other countries from Australia to Brasil.
The company also acts as FPI – Foreign Portfolio Investors for the companies who want to make investments in the Indian market and also who want to do cross border investments.
Upstox Vs Finvasia Overall Services:
After deriving from different public domains, if we compare overall services of Upstox and Finvasia into segment-wise, we find that the scores are 80% and above for each of them in every parameter except, customer service is a bit concern for Finvasia.
|Overall Rating||4 out of 5||4.5 out of 5|
|Brokerage Charges||5 out of 5||4.5 out of 5|
|Trading Platform||4 out of 5||4.5 out of 5|
|Investments Offering||4 out of 5||4 out of 5|
|Customer Service||3 out of 5||4.5 out of 5|
|Broker Type||Discount Broker||Discount Broker|
|Stock Exchanges||BSE, NSE, MCX,MCX-SX,NCDEX||BSE, NSE, MCX|
Upstox Vs Finvasia AOC & AMC:
While assessing Finvasia vs Upstox based on AOC & AMC it’s quite prominently noticeable that Finvasia provides all services free of cost while Upstox provides free service for only AMC of Trading and DP Service.
|Account Opening Fees- Trading||Free||150 Rupees|
|AMC of Trading||Free||Free|
|Account Opening Fees- DEMAT||0 Rupees (199 Rupees for POA)||150 Rupees|
|AMC of DEMAT||Free||150 Rupees PA (Waived for 1st year)|
Upstox Vs Finvasia Brokerage Plan:
When it comes to Brokerage plans, we find that both Upstox and Finvasia don’t have any such with them.
|Particulars||Finvasia Brokerage||Upstox Brokerage|
|Multiple Brokerage Plans||✖||✔|
|Monthly Brokerage Plans||✖||✖|
|Yearly Brokerage Plans||✖||✖|
Comparison on Brokerage Charge:
A piece of consolidated information available from various sources gives a clear vision that Finvasia surprisingly doesn’t charge any brokerage.
However, Upstox has a policy of charging a fixed amount from its customers. We here have compared Upstox vs Finvasia as below:
|Plan Name||Zero Brokerage Trading Plan||Max 20 Rupees Per Order Trading Plan|
|Equity Delivery||0 Rupees||Free|
|Equity Intraday||0 Rupees||0.01% or 20 Rupees whichever is lower|
|Equity Futures||0 Rupees||Flat Fee 20 Rupees|
|Equity Options||0 Rupees||Flat Fee 20 Rupees|
|Currency Futures||0 Rupees||Flat Fee 20 Rupees|
|Currency Options||0 Rupees||Flat Fee 20 Rupees|
|Commodity Trading||0 Rupees||Flat Fee 20 Rupees|
|Hidden Charges||No||Info Not Available|
|Funding||Yes, 24% interest PA||Info Not Available|
|Call & Trade Charges||Call and Trade is free||20 Rupees Per Executable Order|
Comparison on Transaction Charge:
Transaction charges are a part of every transaction done and vary from company to company. When considered Upstox and Finvasia, the below table shows that charges are nearly the same for both. In few cases like Equity Futures and Options, Currency Futures and Options and also in Commodity, Upstox charges more than Finvasia.
|Equity Delivery||325 Rupees Per Cr||325 Rupees Per Cr|
|Equity Intraday||325 Rupees Per Cr||325 Rupees Per Cr|
|Equity Futures||190 Rupees Per Cr||210 Rupees Per Cr|
|Equity Options||5000 Rupees Per Cr||5500 Rupees Per Cr|
|Currency Futures||115 Rupees Per Cr||150 Rupees Per Cr|
|Currency Options||4000 Rupees Per Cr||6000 Rupees Per Cr|
|Commodity||Non-Agri: 260 Rupees Per Cr |
Agri: 175 Rupees Per Cr
|Non-Agri: 360 Rupees Per Cr |
Agri: 275 Rupees Per Cr
Upstox Vs Finvasia Account Feature:
Regarding Account Features, both Finvasia and Upstox have similar features except that Upstox also sends SMS alerts to their customers.
|3 in 1 Account||✖||✖|
|Margin Trading Funding Available||✖||✖|
|Combined Ledger for Equity and Commodity||✔||✔|
|Intraday Square-off Time||3:15 PM||3:15 PM|
Upstox Vs Finvasia Trading Platform:
In terms of usage of technology, choosing the right tool along with a robust platform is very important in terms of accuracy, ease of business and profitability, report generation and analysis and customer satisfaction.
The table below shows that both Finvasia and Upstox use various technologies, except no Mac version of Desktop computers found for both and Finvasia doesn’t have any Mobile and iPad Apps for the IOS platform.
|Desktop Trading Platform||OMNESYS NEST||DartStock/Nest Trader/Fox Trader|
|Desktop Platform (Windows)||✔||✔|
|Desktop Platform (Mac)||✖||✖|
|Web Trading Platform||✔||✔|
|Web Trading Detail||https://trade.finvasia.com/||https://pro.upstox.com/|
|Mobile Trading App||SCALPERT||Upstox|
|Android Mobile App||✔||✔|
|iPhone Mobile App (IOS)||✖||✔|
|Android Tablet App||✔||✔|
|iPad App (IOS)||✖||✔|
|Trading Software Charges||Basic platforms are free, advance platforms are chargeable.||Free|
Comparison of Products:
In Products, we find that Finvasia and Upstox have quite a variety to serve their clients, while Finvasia has few more than Upstox, like online IPO Application, Bond / NCD and MF SIP Investment.
|Equity Cash and F&O||✔||✔|
|Online IPO Application||✔||✖|
|Bond / NCD||✔||✖|
|MF SIP Investment||✔||✖|
|Equity SIP Investment||✖||✖|
|Other Investment Options||NIL||NIL|
Upstox Vs Finvasia Margin / Exposure/ Leverage
In terms of Leverage, there are no differences between both Finvasia and Upstox.
|Particulars||Finvasia Margin||Upstox Margin|
|Equity Delivery Leverage||Leverage is not available for equity delivery.||Leverage is not available for Equity Delivery.|
|Equity Intraday Leverage||Maximum 10x or 10% considering Variable & ELM.||Maximum 10x or 10% considering Variable & ELM.|
|Futures Leverage||1x implies real SPAN + Disclosure.||1x implies real SPAN + Disclosure.|
|Options Leverage||1x implies real SPAN + Disclosure in Sell & Superior Leverage in Purchase.||1x implies real SPAN + Disclosure in Sell & Superior Leverage in Purchase.|
|Equity CO Leverage||Maximum 10x or 10% considering Variable & ELM, no future leverage for Cover Order.||Maximum 10x or 10% considering Variable & ELM, no future leverage for Cover Order.|
|Futures CO Leverage||1x implies real SPAN + Disclosure leverage, No future Leverage for Futures Cover Order.||1x implies real SPAN + Disclosure leverage, No future Leverage for Futures Cover Order.|
|Options CO Leverage||1x implies real SPAN + Disclosure leverage (Sell) or Superior Leverage (Purchase), No future Leverage for Options Cover Order.||1x implies real SPAN + Disclosure leverage (Sell) or Superior Leverage (Purchase), No future Leverage for Options Cover Order.|
|Commodity Leverage||1x implies real SPAN + Disclosure in Sell & Superior Leverage in Purchase.||1x implies real SPAN + Disclosure in Sell & Superior Leverage in Purchase.|
Comparison on Customer Support:
Both Finvasia and Upstox provide a variety of ways of customer support, except Upstox extends their additional support to their clients through their Branches as well.
|24/7 Customer Service||✖||✖|
|Online Live Chat||✔||✔|
|Toll Free Number||✖||✖|
|Customer Care Number||+911726670000/|
|+91 22 6130 9999|
|Account Opening Process||Online/Paperless||Online/Paperless|
|Customer Support Email||[email protected]||[email protected]|
|Knowledge Centre/Education||Info Not Available||https://upstox.com/help-center/|
|Head Office Address||Finvasia Securities Pvt Ltd|
Plot #10,Netsmatrz House (Level 3),
Rajiv Gandhi Chd. Tech Park,
|Upstox Corporate Office|
Sunshine Tower,30th Floor,
Senapati Bapat Marg,
Mumbai – 400 013
Upstox Vs Finvasia DEMAT Account Feature:
A whole lot of DEMAT account features are found in both Finvasia and Upstox. The only point to be noted is, Finvasia in some cases charges a fixed amount while Upstox charges on percentage bases with certain conditions.
Here we have compared Upstox vs Finvasia as below:
|DEMAT Account Annual Maintenance Charges(AMC)||Free||150 Rupees pa|
|Advance Deposit||0 Rupees||NIL|
|Transaction Charges on Debit (Per ISIN)||9 Rupees + 5.50 Rupees (CDSL Charges) for every transaction||13 Rupees + 5.50 Rupees CDSL charges|
|Demat||15 Rupees per certificate||20 Rupees + 50 Rupees courier charges|
|Remat||15 Rupees for every hundred securities + CDSL Charges||100 Rupees for every hundred securities or 25 Rupees per certificate (whichever is higher)|
|Pledge Creation||25 Rupees per transaction||0.02% of the transaction value (Min 50 Rupees) + CDSL charges|
|Pledge Creation Confirmation||NIL||0.02% of the transaction value (Min 50 Rupees) + CDSL charges|
|Pledge Closure||25 Rupees per transaction||0.02% of the transaction value (Min 50 Rupees) + CDSL charges|
|Pledge Closure Confirmation||NIL||0.02% of the transaction value (Min 50 Rupees) + CDSL charges|
|Pledge Invocation||19 Rupees per transaction||0.05% of the transaction value (Min 50 Rupees)|
|Failed Instruction Charges||49 Rupees||50 Rupees|
As a service provider both Finvasia and Upstox have their ways and approach of business policies and serving their customers, and each of them has pros and cons when compared. It is one’s individual choice and needs to choose the right broker between Upstox and Finvasia as per their exact need.