Upstox Vs Profit Mart Securities – Broker Comparison | Find Best Broker

Upstox Vs Profit Mart Securities – Comparison: 

A table-wise comparative study and focus on the main areas with the pros and cons of Upstox vs Profitmart Securities are discussed parameter-wise. This study will help an investor in decision making, whether they want to choose Upstox or Profitmart Securities as their service provider.

Background:

Upstox is a stock broking company which provides different services in the financial sector and are popular for trading at a very low cost and at nominal charges along with the concept of a whole lot of features like paperless account opening, free equity investment, unlimited plans to trade on a fixed price and much more.

With a passion to build values within the customers and create new heights and benchmarks in the finance industry, Profitmart Securities started its operations from 2010 as a Full-Service Brokerage firm.

Upstox Vs Profit Mart Overview: 

Profitmart Securities with its headquarter in Mumbai was Co-founded by Niranjan Mahajan, Nayan Bhandari, Rakesh Sonawane and Yesudasan R K.

They started with diversified products to offer to their clients, right from Equities and Commodities to Mutual Funds, Real Estates and many more.

Upstox, on the other hand, is a Discount Broker that started in the year 2009, which was founded by Raghu Kumar, Ravi Kumar, and Shrinivas Vishvanath.

An important 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.

Upstox Vs Profit Mart Customer Ratings: 

Customer ratings of Profitmart Securities range between 6 and 7, which shows consistency in their performance.

While on the other hand customer ratings of Upstox has a huge variation from as low as 3.0 in the case of Stock Research and Advisory and as high as 9.5 in the case of Brokerage Charges.

Despite such variations, we can notice that star ratings of both Upstox and Profitmart Securities are the same, and are rated as three.

Comparison on AMC & AOC: 

Coming to AMC and AOC, we can see that Upstox charges Rs.150 for opening an account, which is zero in the case of Profitmart Securities. While it is surprising to see that, for Demat AMC and Margin Money, charges of Profitmart Securities are very high as compared to Upstox.

Comparison on Brokerage Charge: 

As Upstox is known to provide cheaper ways of trading, it is very clear from the below table, which shows that Upstox charges a very nominal fixed amount of Rs.20, whereas Profitmart Securities charges based on the percentage in most of the cases.

Comparison on Administrative Charge: 

In the case of Administrative Charges also, Upstox charges lesser compared to Profitmart Securities.

Comparison on Offers: 

Upstox is not great in providing many offers to its customers and is just limited to two, while on the other hand, Profitmart Securities has more offers to give to its customers, compared to Upsotx.

Comparison on Services Offered: 

In the case of services offered, both Upstox and Profitmart Securities are more or less the same in terms of the number of services offered.

Upstox Vs Profit Mart Research & Advisory: 

It is very important to receive regular reports and trade tips from service providers. But while looking into the below table, surprisingly, Upstox is not engaged in any kind of research and advisories for their clients.

While on the other hand, Profitmart Securities is quite active in doing such activities and provides almost all kinds of research and advisory reports and tips to its customers, except IPO reports and Top Picks.

Upstox Vs Profit Mart Margin/ Exposure/ Leverage

The below table shows that leverages of Upstocks are pretty higher than that of Profitmart Securities.

Comparison on Products Offered: 

If we consider product range, it is almost the same number of products available for both Upstox and Profitmart Securities and can be well noticed that not too many products available for investors to choose either from Upstox or Profitmart Securities.

In other words, investors get a very limited number of products to trade with both Upstox and Profitmart Securities.

Upstox Vs Profit Mart Trading Platform: 

In case of usage of technology as a trading platform, we find that Upstox is quite technically sound with the usage of modern trading platforms, while it is surprising to see that Profitmart Securities lacks the usage of technology and most of the platforms are not available with them.

Comparison on Customer Support: 

For a comparative study on customer support between Upstox vs Profitmart Securities, we can see that Upstox provides support only through Online Trading and Email support while Profitmart Securities has more ways to support its customers.

One thing to notice here is that Profitmart Securities also supports its customers through their physical branches located in different areas.

Comparison of Grievance Handled: 

Grievance handled or in other words, resolution handled, is one of the most vital parts in terms of customer satisfaction.

The below table shows that the resolution rate of Upstox is not too great, but probably Profitmart Securities has the most remarkable data of Zero complaints lodged in BSE along with a 100% resolution rate at NSE.

Conclusion: 

From all the above facts and figures of various parameters of Upstox and Profitmart Securities, it can be very clearly said that each of the brokers has its pros and cons, yet maintaining a steady business with decent overall customer ratings.

Now, it is up to the investor who has to decide what product they want to trade and then accordingly chooses either Upstox or Profitmart Securities.