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

Upstox vs HDFC Securities – Comparison Review

A side-by-side with table-wise comparative study in the following sections between Upstox vs HDFC Securities below, will enlighten the pros and cons and help any investor to compare and analyze, and then take the right decision whether to choose Upstox or HDFC Securities.

HDFC is a big name and is pretty familiar to most of us. HDFC Securities is a subsidiary of –

HDFC Bank which emerged as a leading stock broking company with a whole lot of features in diversified products and services in retail as well as in the corporate sectors.

Apart from traditional ways, they also have the facility to trade over the phone.

Talking about Upstox, they started as a stockbroker in the year 2009 with very strong 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. It is a low-cost stockbroker who uses a pretty decent and stable platform to trade.

Upstox vs HDFC Securities
Upstox vs HDFC Securities

Upstox Vs HDFC Securities Overview:

HDFC Securities emerged in the market as a full-service broker which was established in the year 2000.

Headquartered in Mumbai the company was founded by Bharat Shat and presently have their branches spread across all major cities and towns in India.

On the other hand, Upstox, as a stockbroker, headquarters in Mumbai, started its journey in the year 2009 by Raghu Kumar, Ravi Kumar, and Shrinivas Vishvanath with strong backend support from well-reputed stock traders.

They are also members of BSE, NSE, MCX, and MCX-SX and lets one trade in Equity, Futures, Options, Currency and Commodity.

OverviewHDFC SecuritiesUpstox
Establishment TypePublicPrivate
Broker CategoryFull-Service BrokerDiscount Broker
Head officeMumbai, IndiaMumbai, India
Founded ByBharat ShatRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
Launched Year20002009

Upstox Vs HDFC Securities Customer Ratings: 

If we do an assessment between Upstox vs HDFC Securities in terms of Customer Ratings, the below table quite clearly shows that HDFC Securities exceeds customer rating parameters than Upstox in every category except Brokerage charges where the rating is higher of Upstox.

In overall Star Ratings, HDFC Securities is rated as 4 out of a maximum of 5 Starts.

Customer RatingsHDFC SecuritiesUpstox
On Experience8.0 out of 105.3 out of 10
On Products & Services8.0 out of 106.5 out of 10
On Brokerage Charges & Fees5.0 out of 109.5 out of 10
On Stock Research & Advisory6.2 out of 103.0 out of 10
On Trading Platforms7.0 out of 106.5 out of 10
On Overall Ratings6.8 out of 106.2 out of 10
On Star Ratings★★★★☆★★★☆☆

Upstox Vs HDFC Securities AMC & AOC: 

Looking into the figures in terms of AMC & AOC below, it is clear that HDFC Securities charges much more than Upstox in every individual category and especially Margin Money is extremely high of HDFC Securities where Upstox doesn’t charge any.

Demat ServicesHDFC SecuritiesUpstox
Depository ParticipantNSDL & CDSLCDSL
Charges on Account Opening Rs.500Rs.150
AMC on DematRs.300 per AnnumRs.150 per Annum
AMC on Trading500Free
Marginal MoneyMinimum Rs.25,000Zero
Offline to OnlineYesNo

Upstox Vs HDFC Securities Brokerage Charges:

HDFC Securities charges brokerage on a percentage basis in most of the cases and a fixed amount is few, while Upstox has its policy of charging only as a fixed amount in every category and absolutely no charges in Margin Money and Trading AMC.

Brokerage Charge & FeesHDFC Securities Brokerage Upstox Brokerage
Equity Delivery Trading0.50%Zero
Equity Intraday Trading0.05%Rs.20
Commodity Options TradingNaRs.20
Equity Futures Trading0.05%Rs.20
Equity Options TradingRs.100 per Lot or 1% of Premium (Takes higher Amount)Rs.20 per lot
Currency Futures Trading0.05%Rs.20
Currency Options TradingRs.100 per Lot or 1% of Premium (Takes higher Amount)Rs.20 per lot
Minimum BrokerageRs.25Rs.20
Demat AMC ChargesRs.300 per AnnumRs.150 per annum
Trading AMC ChargesRs.500 per annumFree
Margin MoneyMinimum Rs.25,000Zero

Comparison of Other Charges:

Considering other charges, both Upstox & HDFC Securities charges almost the same with HDFC Securities being a little higher in Transaction Charges.

Other ChargesHDFC SecuritiesUpstox
Transaction Charges0.00325% of Total Turnover0.00275% 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: 

In terms of Offers & discounts, there doesn’t seem to be many differences of either Upstox or HDFC Securities.

OffersHDFC SecuritiesUpstox
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
open upstox demat account

Comparison on Services Offered: 

Except for Robo Advisory and Trading Institution, HDFC Securities provides all other services. Upstox, on the other hand, doesn’t facilitate 3 in 1 account, Stock Recommendations to their customers along with PMS and Trading Institution. Comparing both the broker we get these below details.

ServicesHDFC SecuritiesUpstox
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
Trading Institution
Trading ExposureMaximum 14xMaximum 20x

Upstox Vs HDFC Securities Research & Advisory: 

HDFC Securities is engaged in most of the Research & Advisory process whereas, Upstox doesn’t have any such practices for their clients.

Research & AdvisoryHDFC SecuritiesUpstox
Fundamental Reports Services
Research Reports Services
Company Reports Services
Annual Reports Services
Company Stock Review Services
Free Stock Tips Services
IPO Reports Services
Top Picks Services
Daily Market Review Services
Monthly Reports Services
Weekly Reports Services
Offline Advisory Services
Relationship Manager Services

Upstox Vs HDFC Securities Leverage / Margin/Exposure 

Leverages are more or less similar to both HDFC Securities and Upstox. It’s a mix and match and slightly differs from each other.

Exposure / LeverageHDFC Securities MarginUpstox Margin
Equity DeliveryMaximum 8xMaximum 5x
Equity IntradayMaximum 14xMaximum 20x
Equity FuturesMaximum 7xMaximum 7x
Equity OptionsMaximum 8xMaximum 8x
Currency FuturesMaximum 7xMaximum 5x
Currency OptionsMaximum 5xMaximum 6x
CommoditiesMaximum 6xMaximum 7x

Comparison on Products Offered: 

It’s clear from the below table that HDFC Securities provides services of a wide range of Products except they do not deal with Commodity Trading. On the other hand, Upstox provides very limited products to offer for its clients.

ProductsHDFC SecuritiesUpstox
Equity Trading
Commodity TradingNo
Currency Trading
Mutual Funds

Upstox Vs HDFC Securities Trading Platform: 

Both Upstox & HDFC Securities equally cater to various means of Trading Platforms for their clients. Also, the common platform which none of them support is Windows App and Other Mobile OS.

Trading PlatformsHDFC SecuritiesUpstox
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 HDFC Securities Customer Support: 

Supporting customers through various means is supported by HDFC Securities as well as Upstox. However, we find that HDFC Securities provides additional support through Dedicated Dealer, Toll-Free Number as well as support through Branches, which are spread across major cities and towns.

Customer SupportHDFC SecuritiesUpstox
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Support Number1800 425 4332022 – 6130 9999
Email Support
Chat Support
Toll-Free Number1800 425 4332

Comparison on Complaint Handled: 

In reality, no company exists without a single complaint. The beauty lies in how soon the complaints are resolved. The figures below show HDFC Securities has a higher resolution rate percentage than Upstox in both BSE and NSE. In this comparison, we have shown a comparison between Upstox vs HDFC Securities based on grievance handled. 

Complaints (Current Year)HDFC SecuritiesUpstox
Lodged in BSE194185
Resolved in BSE189126
Lodged in NSE226175
Resolved in NSE215139

Upstox Call Back Request


HDFC is a big name and HDFC Securities is a subsidiary of HDFC Bank. Upstox has very strong backend support from renowned stock traders. Both Upstox & HDFC Securities, as stockbrokers, have their policies and are successful in their line of business.

This article is based on the comparison between Upstox vs HDFC Securities highlighting on their different offerings.

Pros and cons are part of every business house and it is solely the investor who has to decide whether to choose HDFC Securities or Upstox as per their actual need.

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Stockquantum was founded by Dharmendra Mukati in 2018. I am a Trader and Investor in the last 10 years. I am writing here about stock broker review, broker comparison, IPO investment, Crypto currencies, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.