Espresso and Upstox are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Espresso is listed as a Private Discount Broker , established in 2020 and headquartered in Mumbai, while Upstox is listed as a Private Discount Broker , established in 2011 and headquartered in Mumbai.
This comparison reviews brokerage, Demat charges, product availability, platforms, features, support, ratings, and complaints. Use the side-by-side tables below to see whether Espresso or Upstox is a better fit for your investment style, platform preference, and budget.
Espresso is listed as a Private Discount Broker established in 2020 with headquarters in Mumbai and founded by Jaideep Arora. The broker highlights access to equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures through mobile app access, web trading and desktop terminal access and promotes features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. It follows a Standard Plan brokerage structure.
Upstox is listed as a Private Discount Broker established in 2011 with headquarters in Mumbai and founded by Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading and algo trading support and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. Its brokerage model is structured as Standard Plan.
Both brokers use technology-driven platforms to attract active traders and investors, but the better option depends on the combination of pricing, products, services, and support that matters most to you.
Espresso vs Upstox — A Comprehensive Company Overview
| Company Overview | Espresso | Upstox |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Jaideep Arora | Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath |
| Establishment Year | 2020 | 2011 |
| Brokerage Plan | Standard Plan | Standard Plan |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Espresso and Upstox.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Espresso charges Free while Upstox charges Rs.20 per Trade or 2.5%, whichever is low.
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Espresso charges Rs.20 per Trade or 0.03% (Whichever is Low) while Upstox charges Rs.20 per Trade or 0.05% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Espresso charges Rs.20 per Trade or 0.03% (whichever is low) while Upstox charges Rs.20 per Trade or 0.05% (whichever is low).
Equity options: This charge applies to equity option contracts. Espresso charges Rs.20 per Trade while Upstox charges Rs.20 per Trade.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Espresso charges Rs.20 per Trade or 0.03% (whichever is low) while Upstox charges Rs.20 per Trade or 0.05% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Espresso charges Rs.20 per Trade while Upstox charges Rs.20 per Trade.
Currency futures: This charge allows participation in forex price movements on the exchange. Espresso charges Rs.20 per Trade or 0.03% (whichever is low) while Upstox charges Rs.20 per Trade or 0.05% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Espresso charges Rs.20 per Trade while Upstox charges Rs.20 per Trade.
Espresso vs Upstox — Detailed Brokerage Comparison
| Brokerage | Espresso | Upstox |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard Plan |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Free | Rs.20 per Trade or 2.5%, whichever is low |
| Equity Intraday | Rs.20 per Trade or 0.03% (Whichever is Low) | Rs.20 per Trade or 0.05% (whichever is low) |
| Equity Future | Rs.20 per Trade or 0.03% (whichever is low) | Rs.20 per Trade or 0.05% (whichever is low) |
| Equity Option | Rs.20 per Trade | Rs.20 per Trade |
| Commodity Future | Rs.20 per Trade or 0.03% (whichever is low) | Rs.20 per Trade or 0.05% (whichever is low) |
| Commodity Option | Rs.20 per Trade | Rs.20 per Trade |
| Currency Future | Rs.20 per Trade or 0.03% (whichever is low) | Rs.20 per Trade or 0.05% (whichever is low) |
| Currency Option | Rs.20 per Trade | Rs.20 per Trade |
Espresso provides mobile app access, web trading and desktop terminal access for order placement, portfolio tracking, and market monitoring. Upstox provides mobile app access, web trading and algo trading support for its users.
Android app: Espresso and Upstox both list an Android trading app.
iOS app: Espresso and Upstox both list an iOS trading app.
Web trading platform: Espresso and Upstox both list a web trading platform.
Desktop trading terminal: Espresso lists a desktop trading terminal, while Upstox does not currently mention it.
Algo trading: Upstox lists algo trading support, while Espresso does not currently mention it.
Basket trading: Upstox lists basket trading, while Espresso does not currently mention it.
Foreign stocks platform: Neither broker currently highlights foreign stocks access.
Mutual fund platform: Espresso and Upstox both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: Neither broker currently highlights a bonds investment platform.
Espresso vs Upstox — Complete Comparison of Trading Platforms
| Trading Platform | Espresso | Upstox |
|---|---|---|
| Android App | Espresso Android App Link | Upstox Android App Link |
| iOS App | Espresso iOS App Link | Upstox iOS App Link |
| Web Trading Platform | Espresso Web Trading Link | Upstox Web Trading Link |
| Trading Terminal | Available | NA |
| Algo Trading Platform | NA | Available |
| Foreign Stocks Platform | NA | NA |
| Basket Trading Platform | NA | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | NA |
Espresso highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, while Upstox promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking. The table below shows the full feature set for both brokers side by side.
Wishlist: Monitor specific stocks or assets by adding them to a watchlist for close tracking. Both Espresso and Upstox offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Espresso and Upstox offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Espresso and Upstox offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Espresso and Upstox offer this feature.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Espresso and Upstox offer this feature.
Live market: Live updates on market movements and trends. Both Espresso and Upstox offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Espresso and Upstox offer this feature.
Espresso vs Upstox — Comprehensive Comparison of Trading Features
| Trading Feature | Espresso | Upstox |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | No | No |
| Global Indices | No | No |
| Customised Recommendations | No | No |
| Stock Tips | No | No |
| Interactive Charts | Yes | Yes |
| Live Market | Yes | Yes |
| Multi Profile Management | No | No |
| Robust & Secure Platform | Yes | Yes |
Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Espresso and Upstox.
Free account opening: Upstox lists free account opening, while Espresso does not currently mention it.
Free AMC: Neither broker currently highlights free Demat AMC.
Free brokerage: Espresso lists free brokerage, while Upstox does not currently mention it.
Flat brokerage: Espresso and Upstox both list flat brokerage pricing.
Flexible brokerage plans: Neither broker currently highlights flexible brokerage plans.
Happy trading hours: Neither broker currently highlights happy trading hours.
Free delivery trading: Espresso lists free delivery trading, while Upstox does not currently mention it.
Free intraday trading: Neither broker currently highlights free intraday trading.
Free F&O trading: Neither broker currently highlights free F&O trading.
Free research reports: Neither broker currently highlights free research reports.
Free trading calls: Neither broker currently highlights free trading calls.
Zero brokerage for loss trades: Espresso lists zero brokerage for loss-making trades, while Upstox does not currently mention it.
Referral offers: Espresso offers Rs.300 per Client while Upstox offers Upto Rs.700 per Client for referrals.
Espresso vs Upstox — Comparison of Latest Offers
| Offer | Espresso | Upstox |
|---|---|---|
| Free Account Opening | No | Yes |
| Free AMC | No | No |
| Free Brokerage | Yes, Limited | No |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | Yes | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | No |
| Free Trading Calls | No | No |
| Referral Offers | Rs.300 per Client | Upto Rs.700 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | Yes | No |
Product availability determines whether a broker can support your preferred markets. Espresso highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while Upstox highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures.
The table below compares the full product lineup side by side across equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options, currency futures, currency options and mutual funds.
Espresso vs Upstox — Complete Comparison of Products
| Product | Espresso | Upstox |
|---|---|---|
| Equity Delivery | Yes | Yes |
| Equity Intraday | Yes | Yes |
| Equity Option | Yes | Yes |
| Equity Future | Yes | Yes |
| Commodity Option | Yes | Yes |
| Commodity Future | Yes | Yes |
| Currency Option | Yes | Yes |
| Currency Future | Yes | Yes |
| Foreign Stocks | No | No |
| Mutual Funds | Yes | Yes |
| Banking | No | No |
| Insurance | No | No |
| Corporate Bonds | No | No |
| Government Bonds | No | No |
| Digital Gold | No | No |
Demat services: Espresso and Upstox both list Demat services.
Trading services: Espresso and Upstox both list trading services.
Intraday services: Espresso and Upstox both list intraday trading services.
F&O services: Espresso and Upstox both list F&O services.
IPO services: Espresso and Upstox both list IPO services.
3-in-1 account: Neither broker currently highlights 3-in-1 account support.
Stock research: Neither broker currently highlights stock research.
Stock recommendations: Neither broker currently highlights stock recommendations.
Trading education: Espresso and Upstox both list trading education.
Share pledging: Espresso and Upstox both list share pledging.
PMS or PCG: Neither broker currently highlights PMS or PCG support.
NRI services: Neither broker currently highlights NRI services.
Espresso provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while Upstox offers Demat services, trading services, intraday trading, F&O trading, IPO access and trading education.
Espresso vs Upstox — In-Depth Comparison of Services
| Service | Espresso | Upstox |
|---|---|---|
| Demat Services | Yes | Yes |
| Trading Services | Yes | Yes |
| Intraday Services | Yes | Yes |
| F&O Services | Yes | Yes |
| IPO Services | Yes | Yes |
| 3-in-1 Account | No | No |
| Stock Research | No | No |
| Stock Recommendations | No | No |
| Trading Education | Yes, Bootcamp | Yes, UpLearn |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | No |
| NRI Services | No | No |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Espresso and Upstox.
Espresso and Upstox — Detailed Comparison of Advisory Services
| Advisory | Espresso | Upstox |
|---|---|---|
| Fundamental Reports | No | Yes |
| Research Reports | No | No |
| Company Reports | No | No |
| Annual Reports | No | No |
| IPO Reports | No | Yes |
| Technical Reports | Yes, chargeable | No |
| Stock Tips | Yes, chargeable | No |
| Daily Top Stock Picks | No | No |
| Daily Market Review | No | No |
| Monthly Review | No | No |
| Weekly Review | No | No |
| Relationship Manager | Yes, chargeable | No |
| Robo Advisory | Yes | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Espresso and Upstox across different segments.
Espresso and Upstox — Comprehensive Comparison of Trading Exposure
| Exposure | Espresso | Upstox |
|---|---|---|
| Equity Delivery | 1x | 1x |
| Equity Intraday | Upto 5x (Depends on Stocks) | Upto 5x (Depends on Stocks) |
| Equity F&O Carry Forward | 1x | 1x |
| Equity F&O Intraday | 1.3x | 1.3x |
| Commodity F&O Carry Forward | 1x | 1x |
| Commodity F&O Intraday | 1.3x | 1.3x |
| Currency F&O | 1x | 1.3x |
Espresso and Upstox both list a sub-broker program. Espresso and Upstox both list a partner program. Espresso and Upstox both list a referral program.
Espresso vs Upstox — Comparative Analysis of Programs
| Program | Espresso | Upstox |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Espresso provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Upstox provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.
Espresso and Upstox — Comprehensive Comparison of Customer Support
| Support Channel | Espresso | Upstox |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Chargeable |
| Dedicated Dealer | Available, Chargeable | Available, Chargeable |
| Call Support | 022-67670700 | 022-41792999 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | |
| Website Support | Website Link | Website Link |
| Facebook Support | Facebook Support Link | Facebook Support Link |
| Twitter / X Support | Twitter Support Link | Twitter Support Link |
| Telegram Support | — | Telegram Support Link |
| Branches / Offices | NA | NA |
Both brokers have been evaluated across key parameters to help investors make an informed comparison. Espresso carries an overall rating of 7.85 / 10, while Upstox carries an overall rating of 9.80 / 10.
Espresso vs Upstox — Ratings Comparison
| Rating Parameter | Espresso | Upstox |
|---|---|---|
| Overall Rating | 7.85 / 10 | 9.80 / 10 |
| Customer Support | 7.82 / 10 | 9.76 / 10 |
| Technology | 7.94 / 10 | 9.92 / 10 |
| Charges | 7.88 / 10 | 9.84 / 10 |
| Products & Services | 7.80 / 10 | 9.84 / 10 |
| Experience | 7.79 / 10 | 9.72 / 10 |
SEBI, BSE, and NSE regularly publish broker complaint data as part of investor protection oversight. The table below shows the complaint records for both brokers.
Espresso & Upstox — Comparison of Customer Complaints
| Complaint Metric | Espresso | Upstox |
|---|---|---|
| Total Complaints Lodged | 4 | 299 |
| Total Complaints Resolved | 3 | 258 |
| % of Resolved Complaints | 75.00% | 86.29% |
| Non-Actionable Complaints | 0 | 28 |
| % of Non-Actionable Complaints | 0.00% | 9.36% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Espresso and Upstox.
Espresso vs Upstox — Detailed Comparison of Transaction Charges
| Transaction Charges | Espresso | Upstox |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | |
| Equity Future | 0.0019% (NSE & BSE) | |
| Equity Option | 0.05% (on premium) | |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | |
| Commodity Option | 0.05% (Non Agri) | |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) |
Pledge creation charges apply when traders borrow against their held securities. Pledge invocation charges apply if the pledged shares are sold due to a shortfall. Margin trading interest is the rate charged on borrowed funds.
Espresso & Upstox — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Espresso | Upstox |
|---|---|---|
| Pledge Creation Charges | Rs.50 per Request | |
| Pledge Invocation Charges | Rs.50 per Request | |
| Margin Trading Interest | 0.048% per day |
Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.
Espresso and Upstox — Detailed Comparison of Hidden / Other Charges
| Charge | Espresso | Upstox |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | |
| DP Charges | Rs.18.5 per Scrip only on Sell | |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | |
| Account Closure Charges | Free | |
| Reactivation Charges | Free | |
| Dematerialisation Charges | Rs.20 per Certificate | |
| Call & Trade Charges | Rs.50 + 18% GST per Trade |
Espresso lists account opening charges of Rs.350 and Demat AMC of Rs.400 per Year. Upstox lists account opening charges of Free and Demat AMC of Rs.150 per Year + GST.
Espresso vs Upstox — Detailed Comparison of Demat Charges
| Demat Charges | Espresso | Upstox |
|---|---|---|
| Account Opening Charges | Rs.350 | Free |
| Annual Maintenance Charges (AMC) | Rs.400 per Year | Rs.150 per Year + GST |
Securities Transaction Tax (STT) and Commodity Transaction Tax (CTT) are government levies — the same for all brokers in India. These are shown below for reference.
Espresso vs Upstox — Comparative Analysis of STT and CTT Charges
| STT & CTT | Espresso | Upstox |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | |
| Equity Intraday | 0.025% on sell | |
| Equity Future | 0.0125% on sell | |
| Equity Option | 0.0625% on sell (on premium) | |
| Commodity Future | 0.01% on sell (Non-Agri) | |
| Commodity Option | 0.05% on sell | |
| Currency Future | Nil | |
| Currency Option | Nil |
Stamp duty is a government tax charged when the broker issues, sells, or transfers a security. It is collected at the end of each trading day.
Espresso and Upstox — Comparison of Stamp Duty Charges
| Stamp Duty | Espresso | Upstox |
|---|---|---|
| Equity Delivery | 0.015% on buy | |
| Equity Intraday | 0.003% on buy | |
| Equity Future | 0.002% on buy | |
| Equity Option | 0.003% on buy | |
| Commodity Future | 0.002% on buy | |
| Commodity Option | 0.003% on buy | |
| Currency Future | 0.0001% on buy | |
| Currency Option | 0.0001% on buy |