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Upstox Vs Geojit – Comparison | Which Discount Broker is Better For Traders & Investor

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Upstox Vs Geojit – Comparison Review

Upstox Vs Geojit – A comparative study where it is focused on the pros and cons of both Upstox and Geojit Finance. The following study below will enlighten and help an investor to analyze for a better decision-making ability to choose between Upstox or Geojit.

The Background

Founded by CJ George in 1986, Geojit Financial Services Ltd. emerged as an investment services company that has its head office in Kochi, Kerala, has its network in India and the Middle East.

It is the first Indian company to start online trading with a franchise model of sub-broking business.

Whereas, Upstox started as a stockbroker in the year 2009 with backend support from notable and renowned stock traders like Ratan Tata,

GVK Davix 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.

Upstox Vs Geojit
Upstox Vs Geojit

Upstox Vs Geojit Overview: 

As an organization, we find that Geojit Finance is an investment services company and is one of the oldest with 480 offices who started online trading with joint ventures in the Western parts of Asia and was the first to start trading in India in commodity futures like pepper, cardamom, gold, and silver. It is also listed in NSE and BSE.

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On the other hand, Upstox, as a stockbroker, has support from notable and renowned stock traders like Ratan Tata, GVK Davix 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.

OverviewUpstoxGeojit Finance
Type of CompanyPrivatePublic
Type of BrokerDiscount BrokerFull-Service Broker
Headquarters LocationMumbai, IndiaMumbai, Maharashtra
Founder NameRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
C. J. George &
A. P. Kurian
Year of Establishment20091986

Comparison on Customer Rating: 

When we compare Upstox vs Geojit Finance we see that Geojit Finance maintains stable customer rating parameters ranging between 6.0 to 7.0 while Upstox has their parameters fluctuating from as low as 3.0 to as high as 9.5.

Customer RatingsUpstoxGeojit Finance
Experience5.3/107.0/10
Products & Services6.5/107.0/10
Brokerage Charges & Fees9.5/106.0/10
Stock Research & Advisory3.0/107.0/10
Trading Platforms6.5/106.5/10
Overall Ratings6.2/106.7/10
Star Ratings★★★☆☆★★★☆☆

Upstox Vs Geojit AMC & AOC:

When talking about AMC & AOC, we can notice from the below table that Upstox charges less compared to the charges of Geojit Finance.

The most striking factor to notice is that the Margin Money is Rs.15,000 for Geojit Finance whereas, for Upstox it is Zero. A clear comparison between Upstox and Geojit is mentioned below.

Demat ServicesUpstoxGeojit Finance
Depository SourceFor Upstox: CDSLFor Geojit Finance: CDSL & NSDL
Account Opening Charges150 Rupees350 Rupees
Demat AMC Charges150 Rupees per Annum400 Rupees per Annum
Trading AMC ChargesFree of costFree of cost
Margin MoneyZero15,000 Rupees
Offline to Online

Upstox Vs Geojit Brokerage Fee: 

Upstox charges a fixed amount of brokerage from their clients while Geojit Finance charges based on percentage. However, Geojit also charges a fixed amount in certain cases which are quite high compared to Upstox.

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Brokerage Charge & FeesUpstox Brokerage Geojit Finance Brokerage
Equity Delivery TradingZero0.30%
Equity Intraday TradingRs.200.03%
Commodity Options TradingRs.20NA
Equity Futures TradingRs.200.03%
Equity Options TradingRs.20 per lotRs.75 per lot
Currency Futures TradingRs.200.03%
Currency Options TradingRs.20 per lotRs.15 per lot
Minimum BrokerageRs.20Rs.15 per executed order
Demat AMC ChargesRs.150 per annumRs.400
Trading AMC ChargesFreeFree
Margin MoneyZeroRs.15,0000

Comparison on Other Charges: 

Except for Transaction Charges, which are higher of Geojit Finance than Upstox, other compliance charges are the same for both of Upstox and Geojit.

Other ChargesUpstoxGeojit Finance
Transaction Charges0.00275% of Total Turnover0.00311% 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: 

Apart from Free Trading Account and Discount on Brokerage by both Geojit Finance and Upstox, Geojit Finance provides additional Offers and Discounts to their clients which precisely are, Flexible Brokerage Plans and Holiday Offers. A clear comparison of Upstox & Geojit is described here.

OffersUpstoxGeojit Finance
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: 

Services offered by Upstox and Geojit Finance are nearly the same, except Upstox doesn’t provide any PMS and Stock Recommendations, which is provided by Geojit Finance whereas Geojit Finance doesn’t provide Robo Advisory which in turn is provided by Upstox.

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ServicesUpstoxGeojit Finance
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 20xMaximum 10X

Upstox Vs Geojit Research & Advisory: 

It is quite astonishing to see that Upstox is not at all engaged in any kind of Research & Advisory system, while Geojit Finance believes in such activities for their clients except they don’t provide any Company Reports, Annual Reports, and Company Stock Review.

Research & AdvisoryUpstoxGeojit Finance
Fundamental Reports availability
Research Reports availability
Company Reports availability
Annual Reports availability
Company Stock Review availability
Free Stock Tips availability
IPO Reports availability
Top Picks availability
Daily Market Review availability
Monthly Reports availability
Weekly Reports availability
Offline Advisory availability
Relationship Manager availability

Upstox Vs Geojit Margin / Exposure/ Leverage

Leverages are provided by both Upstox and Geojit Finance. However, we see that Leverages on every category, provided by Upstox are more than that of Geojit Finance.

Exposure / LeverageUpstox MarginGeojit Finance Margin
Equity DeliveryMaximum 5xMaximum 1X
Equity IntradayMaximum 20xMaximum 10X
Equity FuturesMaximum 7xMaximum 4X
Equity OptionsMaximum 8xMaximum 5X
Currency FuturesMaximum 5xMaximum 4X
Currency OptionsMaximum 6xMaximum 5X
CommoditiesMaximum 7xMaximum 3X
Upstox demat account

Comparison of Products:

If we see the product range of both Upstox & Geojit Finance, it can be noticed that Geojit Finance has two additional products, Mutual Funds, and SIP than Upstox to serve their client base.

ProductsUpstoxGeojit Finance
Equity Trading
Commodity TradingNo
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Upstox Vs Geojit Trading Platform:

When talking in terms of technological aspects, Upstox has almost every technology needed, except Windows and Mobile Apps while Geojit Finance lacks in the usage of technology in a couple of aspects.

Assessing Upstox vs Geojit based on trading platform offering we get the below details. A relative study of Upstox vs Geojit is mentioned below.

Trading PlatformsUpstoxGeojit Finance
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 Geojit Customer Support: 

Geojit Finance has more options and ways than Upstox, where their clients can reach them for support.

The most prominent here is that they have a huge number of Branches spread across, which enables their customers to get offline support by physically meeting the concerned person.

Customer SupportUpstoxGeojit Finance
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZero489

Comparison on Complaint Handled:

Giving importance to complaints is one of the best practices of customer retention. We below have compared Upstox vs Geojit based on the grievance handling. The table below shows that Geojit Finance resolves more customer complaints than Upstox in both BSE and NSE. 

Complaints (Current Year)UpstoxGeojit Finance
Lodged in BSE185187
Resolved in BSE126176
Lodged in NSE175214
Resolved in NSE139198

Upstox Call Back Request

Conclusion: 

We found that both Upstox and Geojit Finance have a good presence and reputation in the market with a quite good number of customer base along with the same Customer Star Ratings. It is only the investors who need to decide on his/her actual needs and choose the Upstox or Geojit Finance.

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