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Upstox Review 2026

Fast UPI IPO applications backed by Tiger Global.

Rating
4.2/5
Users
1 crore+
Founded
2012
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Key Features

  • ✓ Flat ₹20 per order pricing
  • ✓ Fast UPI IPO flow
  • ✓ Upstox Pro web and mobile apps
  • ✓ Free annual maintenance in the first year

Fee Structure

Account Opening₹0 (limited period)
Annual Maintenance₹0 first year, then ₹150
Equity Delivery₹20 or 2.5% (lower)
Equity Intraday₹20 or 0.05% (lower)
F&OFlat ₹20 per order
IPO Application₹0

Pros

  • + Instant account opening
  • + Clean mobile trading experience
  • + Free AMC for the first year
  • + Strong IPO mandate reliability

Cons

  • − Customer service quality varies
  • − Fewer research tools than full-service brokers
  • − Occasional outages during high-volume events

How to Open a Upstox Account

  1. 1Visit the Upstox signup page
  2. 2Enter your mobile and email for OTP verification
  3. 3Upload PAN and Aadhaar for e-KYC
  4. 4Link your bank account
  5. 5Complete Aadhaar e-sign to finish opening the account

How to Apply for an IPO on Upstox

  1. 1Log in to Upstox Pro
  2. 2Open the IPO section from the menu
  3. 3Select the open IPO and enter your UPI ID
  4. 4Place your bid at the cutoff price
  5. 5Approve the UPI mandate within the time window

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Frequently Asked Questions

How do I apply for an IPO on Upstox?

Log in to Upstox Pro, go to the IPO section, pick the active issue, enter your UPI ID and approve the mandate on your UPI app.

What is Upstox AMC for the first year?

Upstox waives the Annual Maintenance Charge for the first year. After that, it is ₹150 per year.

Is Upstox safe and SEBI-regulated?

Yes. Upstox is a SEBI-registered broker and is a member of NSE, BSE, and MCX.

Can I apply for SME IPOs on Upstox?

Yes. Upstox supports SME IPOs listed on NSE Emerge and BSE SME.

What UPI handles are supported for IPO applications?

Upstox supports all major UPI handles including @ybl, @okhdfcbank, @okaxis, @okicici, @paytm and @ibl.

How long does it take to open an Upstox account?

Most accounts are opened within 24 hours of e-KYC completion, often much sooner.