Upstox Vs. KARVY – Broker Comparison | Find Best Broker

Upstox vs KARVY – Comparison

Here we compared Upstox vs Karvy based on all segment-wise details knowing which is necessary for every investor.  In this comparative study, we highlighted the pros and cons of both the broker for the information of investors.

Karvy is a financial service provider with various products to provide services for its clients, ranging from Equity to Commodity trading to Wealth Management and few other products in the financial sectors.

Karvy Group has an employee strength of over 30,000 with 900 offices which are spread across different cities and towns in India.

Later, they also extended their line of business into Stockbroking, Commodity & Forex Trading, along with various advisory businesses.

Upstox, on the other hand, is also a stockbroking company that also provides different services in the financial sector and is popular for trading at a very low cost and nominal charges.

Upstox Vs. KARVY Overview: 

Started in the year 2009, Upstox emerged as a stockbroker with a concept of an easy and cheaper way of trading along with the concept of paperless account opening, free equity investment, unlimited plans to trade on fixed price, etc.

These features made Upstox gain its popularity soon within a short period with a turnover of 4000 Cr. by early February 2016.

Another factor of their speedy success was due to their strong backend support from notable and renowned stock traders like Ratan Tata, GVK Davis, and Capital Kalaari.

After establishing in the year 1983 as a Full-Service Broker and headquartered in Hyderabad, Karvy is now headed by Mr. C Parthasarathy as Chairman and Managing Director, with M. Yuganchar as Managing Director and M. S. Ramakrishna as Director in their management.

Upstox Vs. KARVY Customer Ratings: 

The comparison chart below in terms of Customer Ratings and their experience between Upstox vs Karvy shows that Karvy maintains steady ratings in every parameter,

whereas Upstox has a very high fluctuation from as low as 3.0 in Stock Research & Advisory and as high as 9.5 in case of Brokerage Charges & Fees out of 10.

Comparison on AMC & AOC: 

In the case of AMC & AOC, it’s just a mix and match between Upstox and Karvy. Except for Account Opening Charges, Upstox charges less or free in certain cases as compared to Karvy, whereas Karvy charges Margin Money up to Rs. 1 lakh from their customers which is always Zero in case of Upstox.

Upstox Vs. KARVY Brokerage Fee: 

Charging a nominal fixed amount or free Brokerage Fee is the beauty of Upstox, while Karvy charges based on a percentage of transaction value in most of the cases.

Comparison of Other Charges: 

Apart from compliance charges which are the same for both Upstox and Karvy, Upstox charges less Transaction Fee than that of Karvy.

Comparison of Offers and Discount: 

Lucrative Offers and Discounts are usually considered to play an important role in any business strategy to attract new customers. The below table shows a comparative study between Upstox and Karvy, where it can be noticed that both of them have very limited engagements in such activities.

Comparison on Service Offered: 

Both Upstox and Karvy provide similar services except, Karvy offers an additional service of PMS to their clients.

Upstox Vs. KARVY Research & Advisory: 

When comparing Upstox vs Karvy, it is quite prominent from the below table that, Upstox lacks in Research & Advisory and does not provide any such services to their clients.

Karvy, on the other hand, engages in a couple of such activities and provides various Research & Advisory tips and analytical reports to their customers.

Upstox Vs. KARVY Margin/ Exposure/ Leverage

While considering Leverage, both Upstox and Karvy have the process of it, however, Karvy’s leverage strategy is more than that of Upstox in most of the parameters.

Comparison of Products: 

Upstox has very limited products to serve its customers, while on the other hand, except Forex, Insurance and in the Banking sector, Karvy has all other products. This means investors get more options from Karvy to select their product range for trading.

Upstox Vs. KARVY Trading Platform: 

Both Upstox and Karvy equally have various Trading Platforms except none have any mobile version of Windows and other Mobile OS Platforms.

Upstox Vs. KARVY Customer Support: 

Karvy has more ways to give support to its customers than Upstox. Karvy even supports their customers through Dedicated Dealers as well as through their Branches which are spread across various cities and towns.

Comparison of Complaints Handled: 

No organization can be error-free without any customer complaints. It is important, how sooner the complaints are handled and resolved. It is quite a clear form of the below table that, in both BSE and NESE, Karvy’s resolution percentage is over 80% and is higher than that of Upstox.

Conclusion: 

From the above facts and figures drawn from various sources, it can be concluded that both Upstox and Karvy have their pros and cons varying from product to product.

Hence, before choosing a broker, the investor has to first identify his/her actual need and the type of trade one needs to do. Post identifying the need, one has to choose whether to opt for Upstox or Karvy.

Dharmendra Mukati

Stockquantum was founded by Dharmendra Mukati in 2019. I am a Trader and Investor in the last 9 years.
I am writing here about stock broker review, broker comparison, IPO investment, technical analysis, fundamental analysis, sub brokership, mutual fund, personal finance, and our experiences.