Upstox Vs Prostocks – Comparison:
A segment-wise necessary comparative study of Upstox vs Prostocks in different parameters with pros and cons is discussed below for a better understanding before an investor decides to choose whether they want to go with Upstox or Prostocks.
Background:
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.
With a claim to provide trading services at a very low brokerage charge, ProStocks started their journey with a team of Chartered Accountants to designers as well as Engineers, to service various products to their investors in both BSE and NSE in India.
They claim that an individual investor can save 60% to 99% of brokerage charges if they are associated with ProStocks.
Upstox Vs Prostocks Overall Services Offered:
A comparative assessment of ratings of Overall Services Offered between Upstox and ProStocks below shows that both service providers have more or less similar statistical ratings and customer satisfaction figures.
| Particulars | Upstox | ProStocks |
| Overall Rating | 4.5 out of 5 | 4 out of 5 |
| Brokerage Charges | 4.5 out of 5 | 4.5 out of 5 |
| Trading Platform | 4.5 out of 5 | 3.5 out of 5 |
| Investments Offering | 4 out of 5 | 4 out of 5 |
| Customer Service | 4.5 out of 5 | 4 out of 5 |
| Broker Type | Discount Broker | Discount Broker |
| Exchanges Supported | BSE, NSE, MCX | NSE, BSE |
Comparison on AMC & AOC:
A study on AMC and AOC in the below table shows that ProStocks doesn’t charge any amount for either AMC or AOC while Upstox charges a fixed amount of Rs.150 as a fixed amount except Trading AMC, which is free for their customers.
| Particulars | Upstox | ProStocks |
| Trading Account Opening Fees | 150 Rupees | Free |
| Trading AMC | Free | Free |
| DEMAT Account Opening Fees | 150 Rupees | Free |
| DEMAT AMC | 150 Rupees PA (Waived for 1st year) | 0 Rupees (1000 Rupees Refundable Deposit) |
| Provide DP Service | ✔ | ✔ |
Upstox Vs Prostocks Brokerage Plan:
ProStocks provides more choices for the investors to choose from different Brokerage Plans as per their requirements, while Upstox doesn’t have any Monthly or Yearly Plans for their customers.
| Plan Types | Upstox Brokerage | ProStocks Brokerage |
| Multiple Plans | ✔ | ✔ |
| Monthly Plans | ✖ | ✔ |
| Yearly Plans | ✖ | ✔ |
Upstox Vs Prostocks Brokerage Charge:
Both Upstox and ProStocks charges a fixed amount as Brokerage charge from their customers. It can be also noticed that ProStocks charges a lesser amount as compared to Upstox.
| Particulars | Upstox | ProStocks |
| Plan Name | Max 20 Rupees Per Order Trading Plan | Flat Fee 15 Rupees Trading Plan |
| Equity Delivery | Free | Flat Fee 15 Rupees |
| Equity Intraday | 0.01% or 20 Rupees whichever is lower | Flat Fee 15 Rupees |
| Equity Futures | Flat Fee 20 Rupees | Flat Fee 15 Rupees |
| Equity Options | Flat Fee 20 Rupees | Flat Fee 15 Rupees |
| Currency Futures | Flat Fee 20 Rupees | Flat Fee 15 Rupees |
| Currency Options | Flat Fee 20 Rupees | Flat Fee 15 Rupees |
| Commodity Trading | Flat Fee 20 Rupees | NA |
| Minimum Brokerage | NIL | NA |
| Hidden Charges | Info Not Available | No |
| Funding | Info Not Available | No |
| Call & Trade Charges | 20 Rupees Per Executable Order | 10 Rupees per executed order |
Comparison on Transaction Charge:
In the case of Transaction Charges, Upstox still charges more than that of ProStocks in most of the cases except Equity Delivery and Equity Intraday.
| Particulars | Upstox | ProStocks |
| Equity Delivery | 325 Rupees Per Cr | 325 Rupees Per Cr |
| Equity Intraday | 325 Rupees Per Cr | 325 Rupees Per Cr |
| Equity Futures | 210 Rupees Per Cr | 190 Rupees Per Cr |
| Equity Options | 5500 Rupees Per Cr | 5000 Rupees Per Cr |
| Currency Futures | 150 Rupees Per Cr | 110 Rupees Per Cr |
| Currency Options | 6000 Rupees Per Cr | 4000 Rupees Per Cr |
| Commodity | Non-Agri: 360 Rupees Per Cr Agri: 275 Rupees Per Cr | NA |
Comparison on Account Feature:
If we assess the features of various accounts provided by both Upstox and ProStocks, it is quite noticeable that Upstox has more features than that of ProStocks. The only feature that Upstox lacks from that of ProStocks is that they do not facilitate Margin Trading Funding.
| Particulars | Upstox | ProStocks |
| 3 in 1 Account | ✖ | ✖ |
| Charting | ✔ | ✔ |
| Algo Trading | ✔ | ✖ |
| SMS Alerts | ✔ | ✔ |
| Online Demo | ✔ | ✔ |
| Online Portfolio | ✔ | ✖ |
| Margin Trading Funding Available | ✖ | ✔ |
| Combined Ledger for Equity and Commodity | ✔ | ✖ |
| Intraday Square-off Time | 3:15 PM | 3:15 PM |
| NRI Trading | ✔ | ✔ |
| Other Features | NIL | NIL |
Upstox Vs Prostocks Trading Terminal:
In the case of Trading Terminal or Trading Platforms used by both Upstox and ProStocks, we see that both facilitate various ways of terminals for their clients, except Mac version of Desktop Platform is not available by either of them.
| Particulars | Upstox | ProStocks |
| Desktop Trading Platform | DartStock / Nest Trader / Fox Trader | ProStocks, NSE NOW |
| Desktop Platform (Windows) | ✔ | ✔ |
| Desktop Platform (Mac) | ✖ | ✖ |
| Web Trading Platform | ✔ | ✔ |
| Web Trading Detail | pro.upstox.com | prostocksweb.com |
| Mobile Site | ✔ | ✔ |
| Mobile Trading | ✔ | ✔ |
| Mobile Trading App | Upstox | ProStocks Mobile |
| Android Mobile App | ✔ | ✔ |
| iPhone Mobile App (IOS) | ✔ | ✔ |
| Android Tablet App | ✔ | ✔ |
| iPad App (IOS) | ✔ | ✔ |
| Trading Software Charges | Free | Free |
Comparison on Product Offering:
When we talk about the product range, both are less same except Upstox provides an additional product of commodity trading and mutual funds, which are not products offered by ProStocks.
| Particulars | Upstox | ProStocks |
| Equity Cash and F&O Service | ✔ | ✔ |
| Currency Derivatives Service | ✔ | ✔ |
| Commodity Service | ✔ | ✖ |
| Online IPO Application Service | ✖ | ✖ |
| Mutual Funds Service | ✔ | ✖ |
| Bond / NCD Service | ✖ | ✖ |
| ETF Service | ✔ | ✔ |
| Banking Service | ✖ | ✖ |
| Insurance Service | ✖ | ✖ |
| Forex Service | ✖ | ✖ |
| MF SIP Investment Service | ✖ | ✖ |
| Equity SIP Investment Service | ✖ | ✖ |
| PMS Service Service | ✖ | ✖ |
| Other Investment Service | NIL | NIL |
Upstox Vs Prostocks Margin/Leverage/Exposure
If we compare Leverage, both Upstox and ProStocks are absolutely the same.
| Particulars | Upstox Margin | ProStocks Margin |
| Equity Delivery Leverage | No Leverage for Equity Delivery. | No Delivery leverage. |
| Equity Intraday Leverage | Maximum 10x or 10% considering Variable and ELM. | Maximum 10x or 10% considering Variable and ELM. |
| Futures Leverage | 1x implies real SPAN + leverage. | 1x means real SPAN + leverage. |
| Options Leverage | 1x implies real SPAN + leverage in Sell and Superior leverage in Buy. | 1x implies real SPAN + leverage in Sell and Superior leverage in Buy. |
| Equity CO Leverage | Maximum 10x or 10% considering Variable and ELM, no further leverage for Cover Order. | Maximum 10x or 10% considering Variable and ELM, no further leverage for Cover Order. |
| Futures CO Leverage | 1x implies real SPAN + Disclosure leverage, No further leverage for Futures Cover Order. | 1x implies real SPAN + Disclosure leverage, No further leverage for Futures Cover Order. |
| Options CO Leverage | 1x implies real SPAN + Disclosure leverage (Sell) or Superior leverage (Purchase), No further leverage for Options Cover Order. | 1x implies real SPAN + Disclosure leverage (Sell) or Superior leverage (Purchase), No further leverage for Options Cover Order. |
| Commodity Leverage | 1x implies real SPAN + Disclosure in Sell and Superior leverage in Buy. | 1x implies real SPAN + Disclosure in Sell and Superior leverage in Buy. |
Comparison on Customer Support:
Customer support is a major department of every business house. Here, we find that there is a mix and match of different modes of Customer Support provided by both Upstox and ProStocks and are almost the same, except Upstox also provides an additional online live chat support to their clients, which is not provided by ProStocks.
| Particulars | Upstox | ProStocks |
| 24/7 Customer Service | ✖ | ✖ |
| Email Support | ✔ | ✔ |
| Online Live Chat | ✔ | ✖ |
| Phone Support | ✔ | ✔ |
| Toll Free Number | ✖ | ✖ |
| Through Branches | ✔ | ✖ |
| Customer Care Number | +91 22 6130 9999 | +91-2262-434343 |
| Account Opening Process | Online/Paperless | Online/Paperless |
| Customer Support Email | [email protected] | [email protected] |
| Knowledge Centre /Education | upstox.com/help-center | prostocks.com/faq.html |
| Head Office Address | Upstox Corporate Office Sunshine Tower, 30th Floor, Senapati Bapat Marg, Dadar (W), Mumbai – 400 013 | Sunlight Broking LLP, B-50, Pravasi Industrial Estate, Goregaon (East), Mumbai – 400063 |
| Website | upstox.com | prostocks.com |
Comparison of DEMAT Account Feature:
Now, considering the features of Demat Account provided by Upstox and ProStocks, we see that in some cases Upstox charges less and in other few cases, ProStocks charges less. So, it’s just again a mix and match of the Demat Account Features provided by each of them.
| Particulars | Upstox Demat Account | ProStocks Demat Account |
| DP Source | CDSL | CDSL |
| DP ID | 81800 | 83200 |
| Demat Account Annual Maintenance Charges(AMC) | 150 Rupees pa | Free (1000 Rupees Refundable Deposit) |
| Advance Deposit | NIL | Rupees 1000/- Refundable Deposit against charges |
| Statutory charges | Nil | Nil |
| Transaction Charges on Debit (Per ISIN) | 13 Rupees + 5.50 Rupees CDSL charges | 8 Rupees + 5.50 Rupees (CDSL Charges) Flat Fee for every transaction |
| DEMAT | 20 Rupees + 50 Rupees courier charges | 50 Rupees per set up + 50 Rupees courier charges |
| REMAT | 100 Rupees for every hundred securities or 25 Rupees per certificate (whichever is higher) | 50 Rupees per set up + 50 Rupees courier charges |
| Pledge Creation | 0.02% of the transaction value (Min 50 Rupees) + CDSL charges | 50 Rupees |
| Pledge Creation Confirmation | 0.02% of the transaction value (Min 50 Rupees) + CDSL charges | Nil |
| Pledge Closure | 0.02% of the transaction value (Min 50 Rupees) + CDSL charges | 50 Rupees |
| Pledge Closure Confirmation | 0.02% of the transaction value (Min 50 Rupees) + CDSL charges | Nil |
| Pledge Invocation | 0.05% of the transaction value (Min 50 Rupees) | 50 Rupees |
| Failed Instruction Charges | 50 Rupees | 50 Rupees per transaction |
| Other Charges | Nil | Nil |
Conclusion:
From all the above studies of various parameters of both Upstox and ProStocks, it can only be concluded that each of them has its own pros and cons in some of the other parameters.
A thorough study also reveals that both brokers have a strong base with happy customers. Now, it is the investor who has to decide what product they want to trade and then accordingly choose either Upstox or ProStocks.
