Upstox vs Angel One
Two flat-fee brokers with different strengths: Upstox for charts and API, Angel One for research.
Fees checked on against each broker's official pricing page.
Charges side by side
| Charge | Upstox | Angel One |
|---|---|---|
| Account opening | Free (Upstox notes an account processing fee may be charged during onboarding). | ₹0. |
| Demat AMC | Zero for the first year for new customers (from 14 Feb 2025); non-BSDA ₹300 + GST per year thereafter. | Free for the first year. After that, BSDA: nil up to ₹4 lakh and ₹100 + GST for ₹4–10 lakh; non-BSDA: ₹60 + GST per quarter. |
| Equity delivery | ₹20 per executed order. | ₹0 brokerage up to ₹500 in the first 30 days; then ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Equity intraday | ₹20 or 0.1% per executed order, whichever is lower. | ₹0 brokerage up to ₹500 in the first 30 days; then ₹20 or 0.1% per executed order, whichever is lower (minimum ₹5). |
| Futures | ₹20 or 0.05% per executed order, whichever is lower. | Flat ₹20 per executed order. |
| Options | Flat ₹20 per executed order. | Flat ₹20 per executed order. |
| DP charge (on selling delivery shares) | Once per stock (ISIN) per day. ₹20 + 18% GST (₹23.60) per scrip per day, only on sell. Split: ₹3.50 CDSL + ₹16.50 Upstox (men), ₹3.25 + ₹16.75 (women). | Every sell transaction per ISIN. ₹20 + 18% GST (₹23.60) per ISIN per transaction. Split: ₹3.50 CDSL + ₹16.50 Angel One (men), ₹3.25 + ₹16.75 (women). Angel One's example: selling TCS at 10 am and again later the same day attracts DP twice. |
| Margin trading (MTF) | Up to 4x leverage; interest ₹20 per day for each ₹40,000 slab. | Interest 0.041% per day on MTF borrowings (Angel One lists 0.049% per day for ordinary debit balances). |
| Other notable charges | Call & trade: ₹75 + GST. Auto square-off: ₹75 + GST (the Upstox Plus section of the same page shows ₹50). | Call & trade: ₹20 per order. DDPI: ₹100. Angel One's page also mentions an MTF interest revision to 14.99% a year (see the source-conflict note). |
Company, regulation & platforms
| Upstox | Angel One | |
|---|---|---|
| Type | Discount broker | Discount broker with research |
| Legal entity | Upstox Securities Private Limited | Angel One Limited |
| SEBI registration | INZ000315837 | INZ000161534 |
| Mobile app | Upstox app (Android, iOS) | Angel One app (Android, iOS) |
| Web / desktop | Upstox Pro web with TradingView charts, free Upstox API | Angel One web trading, SmartAPI |
| Best for | Active traders and API users | Investors who want research with low fees |
Key differences
Delivery: Upstox ₹20 flat; Angel One 0.1% or ₹20 (min ₹5).
Intraday: 0.1% or ₹20 at both. Futures: Upstox 0.05% or ₹20; Angel One ₹20. Options: ₹20 at both.
AMC: both free in year one; after that Upstox ₹300 + GST a year versus Angel One ₹60 + GST per quarter.
Call & trade: Upstox ₹75 + GST; Angel One ₹20.
Worked examples count brokerage only. GST, STT, exchange, SEBI and stamp charges are extra and are broadly the same at both brokers.
Which should you choose?
- Choose Upstox for TradingView-based charts and a free API.
- Choose Angel One for research, cheaper call & trade and lower ongoing AMC.
Upstox
Pros
- ₹20 cap on every segment
- TradingView-based charts
- Free trading API
Cons
- ₹20 brokerage on delivery orders
- Call & trade and auto square-off cost ₹75 + GST
- DP charge of ₹20 + GST per stock per day
Angel One
Pros
- Flat ₹20 F&O brokerage
- SEBI-registered research arm
- Free AMC in the first year
Cons
- Brokerage on delivery trades after the first 30 days
- DP of ₹20 + GST on every sell transaction, even for the same stock on the same day
- Non-BSDA AMC applies from year two
Frequently asked questions
Which is cheaper, Upstox or Angel One?
Headline trading rates are similar. Angel One has lower call & trade fees and lower ongoing non-BSDA AMC; Upstox is cheaper on small futures orders.
Sources
- Upstox – official pricing — accessed 30 September 2026
- Angel One – official pricing — accessed 30 September 2026