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Upstox Vs Master Trust Comparison: Find the Best Discount Broker

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Upstox Vs Master Trust – Comparison: 

Here we compared Upstox vs Master Trust 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.

Upstox (formerly known as RKSV Securities) is a renowned discount broker that started its journey in 2009 based on Mumbai.

This discount broker is famed for its variety of trading terminal offerings and a wide range of products and services. They don’t charge any brokerage for equity delivery. 

Whereas, full-service broker Master Trust doesn’t require any introduction. It is a company of Business Tycoon Anil Ambani and commenced its journey in the year 2005 based on Mumbai. 

Features: 

Upstox: 

1) Zero brokerage fee on equity delivery trading

2) Flat fee-based brokerage fee structure.

3) Trading Account AMC is free of cost.

4) Don’t trade in the commodity, mutual funds, forex, SIP & insurance. 

5) Margin Money not required. 

Master Trust: 

1) Percentage based brokerage plan is there. 

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2) DEMAT and Trading Account opening is free of cost. 

3) It facilitates trading in Mutual Fund & SIP but not in commodity, forex, and insurance. 

4) Required to maintain Margin money of @INR.25,000/-.

5) 3-in-1 account feature unavailable. 

Upstox Vs Master Trust
Upstox Vs Master Trust

Upstox Vs Master Trust Overview: 

Based on the organizational overview we have compared Upstox Vs Master Trust as below. We have compared here both the broker considering the company type, broker type, geographical situation of headquarter and the establishment year. 

OverviewUpstoxMaster trust
Business TypePrivatePrivate
Broker CategoryDiscount BrokerFull-Service Broker
Head OfficeMumbai, IndiaMumbai, Maharashtra
Founded ByRaghu Kumar,
Ravi Kumar &
Shrinivas Vishvanath
Harjeet Singh Arora &
R.K.Singhania
Commenced Year20091994

Upstox Vs Master Trust Customer Ratings: 

Here we have compared Upstox vs Master Trust based on the customer ratings on different segments.

These ratings are based on the reviews received from the various public platform. We can see from the below table that in terms of experience, trading platform & research news Master Trust is leading the position, whereas, Upstox is leading while considering the products, services & brokerage fees. 

Customer RatingsUpstoxMaster trust
On Experience5.3 out of 106.0 out of 10
On Products & Services6.5 out of 106.1 out of 10
On Brokerage Charges & Fees9.5 out of 106.5 out of 10
On Stock Research & Advisory3.0 out of 105.8 out of 10
On Trading Platforms6.5 out of 106.6 out of 10
On Overall Ratings6.2 out of 106.2 out of 10
On Star Ratings★★★☆☆★★★☆☆

Comparison on AMC & AOC:

Comparing Upstox vs Master Trust based on Account Opening and Maintainance charge we get the below details. Here we can see that both Upstox & Master Trust offers free trading AMC to their customer. 

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DEMAT ServicesUpstoxMaster trust
Depository ParticipantCDSLCDSL & NSDL
Charges on Account Opening Rs.150Rs.555
AMC on DEMATRs.150 per AnnumRs.300 per Annum
AMC on TradingFreeFree
Marginal MoneyZeroMinimum 10,000
Offline to Online

Upstox Vs Master Trust Brokerage Charges: 

Considering the brokerage charge offering we have compared Upstox and Master Trust as below.

Master Trust offers a percentage based brokerage plan whereas, Upstox offers a flat fee-based brokerage plan. Both the broker has a minimum brokerage charge feature. 

Brokerage Charge & FeesUpstox Brokerage Master trust Brokerage
Equity Delivery TradingZero0.10%
Equity Intraday TradingRs.200.01%
Commodity Options TradingRs.200.01%
Equity Futures TradingRs.200.01%
Equity Options TradingRs.20 per lotRs.10 per Lot
Currency Futures TradingRs.200.01%
Currency Options TradingRs.20 per lotRs.5 per Lot
Minimum BrokerageRs.20Rs.20 per executed order
DEMAT AMC ChargesRs.150 per annumRs.300 per Annum
Trading AMC ChargesFreeFree
Margin MoneyZeroMinimum Rs.10,000

Comparison on Administrative Charges: 

Comparing Upstox vs Master Trust based on other transaction charges we get these below details.

Here we can see that both brokers share similar charge structures excluding the transaction charge. A Transaction charge of Master Trust is more than Upstox.

Other ChargesUpstoxMaster trust
Transaction Charges0.00275% of Total Turnover0.00289% 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: 

Contrasting Upstox vs Master Trust we get the below comparison on offers. We here can see that in terms of offers Master Trust offers more offers than Upstox. 

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OffersUpstoxMaster trust
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:

Comparing Upstox vs Master Trust based on their service offering we derived the below comparison:

ServicesUpstoxMaster trust
Demat Services
Trading Services
3 in 1 Account
Intraday Services
IPO Services
Stock Recommendations
Robo Advisory
PMS
Trading Institution
Trading ExposureMaximum 20xMaximum 6X

Upstox Vs Master Trust Research & Advisory:

Contrasting Upstox vs Master Trust based on their research & advisory offering we received the below comparison.

Here we can see in the below table that Upstox doesn’t provide any research support to their investors whereas Master Trust offers different kinds of reports to their customers.

Research & AdvisoryUpstoxMaster trust
Fundamental Reports Service 
Research Reports Service
Company Reports Service
Annual Reports Service
Company Stock Review Service
Free Stock Tips Service
IPO Reports Service
Top Picks Service
Daily Market Review Service
Monthly Reports Service
Weekly Reports Service
Offline Advisory Service
Relationship Manager Service

Upstox Vs Master Trust Margin/ Exposure/ Leverage 

Considering Upstox vs Master Trust based on product-wise leverage we get the below details. 

Exposure / LeverageUpstox MarginMaster trust Margin
Equity DeliveryMaximum 5xMaximum 2X
Equity IntradayMaximum 20xMaximum 6X
Equity FuturesMaximum 7xMaximum 4X
Equity OptionsMaximum 8xMaximum 5X
Currency FuturesMaximum 5xMaximum 3X
Currency OptionsMaximum 6xMaximum 3X
CommoditiesMaximum 7xMaximum 1X

Comparison on Products Offering: 

Comparing Upstox vs Master Trust based on their product offering we derived the below comparison. We can see in this below comparison that Master Trust offers more number of products for their investors than Upstox. 

ProductsUpstoxMaster trust
Equity Trading
Commodity TradingNo
Currency Trading
Options
Futures
Mutual Funds
Forex
Banking
SIP
Insurance

Upstox Vs Master Trust Trading Platform: 

Because of the trading terminal offering Upstox vs Master Trust, we compared them as below.  

Trading PlatformsUpstoxMaster trust
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

Comparison on Customer Support: 

Considering customer assistance, we here have compared Upstox vs Master Trust as below. Only Upstox doesn’t offer personal dealers, offline trading, 24X7 support, toll-free number, and Chat support.

On the other hand, Master Trust doesn’t offer 24X7 support, toll-free number and chat support. 

Customer SupportUpstoxMaster trust
Dedicated Dealer
Offline Trading
Online Trading
24*7 Support
Email Support
Chat Support
Toll-Free Number
BranchesZero35
Mastertrust Free Demat account
Upstox Vs Master Trust – Mastertrust Free Demat account

Comparison of Complaints handled: 

Both these brokers provide multiple channels to their investors to reach them so that they can support the customers in a better way. Here we compared Upstox vs Master Trust based on their customer complaint handling in the below comparison. 

Complaints (Current Year)UpstoxMaster trust
Lodged in BSE18556
Resolved in BSE12653
Lodged in NSE175112
Resolved in NSE139105

Conclusion:

To conclude we can state that this comparison between Upstox vs Master Trust portrays different aspects regarding the offering of the brokers. Both the broker are renowned in the stockbroking market but both have their benefit as well as shortcomings.

Hence it is impossible to consider one good and other one bad. The investors should choose the broker keeping in mind his personal preference and requirements.

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