Upstox and HDFC SKY are two stockbrokers that investors often compare for brokerage charges, products, trading platforms, and account costs. Upstox is listed as a Private Discount Broker , established in 2011 and headquartered in Mumbai, while HDFC SKY is listed as a Private Discount Broker , established in 2023 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 Upstox or HDFC SKY is a better fit for your investment style, platform preference, and budget.
Upstox is listed as a Private Discount Broker established in 2011 with headquarters in Mumbai and founded by Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath. 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 algo trading support 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.
HDFC SKY is listed as a Private Discount Broker established in 2023 with headquarters in Mumbai and founded by Dhiraj Relli. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access and web trading and supports traders with features such as watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices tracking. Its brokerage model is structured as Standard.
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.
Upstox vs HDFC SKY — A Comprehensive Company Overview
| Company Overview | Upstox | HDFC SKY |
|---|---|---|
| Company Type | Private | Private |
| Broker Type | Discount Broker | Discount Broker |
| Headquarters | Mumbai | Mumbai |
| Founder | Raghu Kumar, Ravi Kumar & Shrinivas Vishvanath | Dhiraj Relli |
| Establishment Year | 2011 | 2023 |
| Brokerage Plan | Standard Plan | Standard |
Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Upstox and HDFC SKY.
Equity delivery: This charge applies to buy-and-hold stock positions held beyond one trading session. Upstox charges Rs.20 per Trade or 2.5%, whichever is low while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity intraday: This charge applies to buy-sell positions closed within the same trading day. Upstox charges Rs.20 per Trade or 0.05% (whichever is low) while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity futures: This charge applies to futures contracts on stocks and indices. Upstox charges Rs.20 per Trade or 0.05% (whichever is low) while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Equity options: This charge applies to equity option contracts. Upstox charges Rs.20 per Trade while HDFC SKY charges Rs.20 per Order.
Commodity futures: This charge covers commodities such as gold, silver, and crude oil. Upstox charges Rs.20 per Trade or 0.05% (whichever is low) while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Commodity options: This charge applies to option contracts on commodity instruments. Upstox charges Rs.20 per Trade while HDFC SKY charges Rs.20 per Order.
Currency futures: This charge allows participation in forex price movements on the exchange. Upstox charges Rs.20 per Trade or 0.05% (whichever is low) while HDFC SKY charges Rs.20 per Order or 0.01% (whichever is low).
Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Upstox charges Rs.20 per Trade while HDFC SKY charges Rs.20 per order.
Upstox vs HDFC SKY — Detailed Brokerage Comparison
| Brokerage | Upstox | HDFC SKY |
|---|---|---|
| Brokerage Plan | Standard Plan | Standard |
| Subscription Charges | Zero | Zero |
| Equity Delivery | Rs.20 per Trade or 2.5%, whichever is low | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Intraday | Rs.20 per Trade or 0.05% (whichever is low) | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Future | Rs.20 per Trade or 0.05% (whichever is low) | Rs.20 per Order or 0.01% (whichever is low) |
| Equity Option | Rs.20 per Trade | Rs.20 per Order |
| Commodity Future | Rs.20 per Trade or 0.05% (whichever is low) | Rs.20 per Order or 0.01% (whichever is low) |
| Commodity Option | Rs.20 per Trade | Rs.20 per Order |
| Currency Future | Rs.20 per Trade or 0.05% (whichever is low) | Rs.20 per Order or 0.01% (whichever is low) |
| Currency Option | Rs.20 per Trade | Rs.20 per order |
Upstox provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. HDFC SKY provides mobile app access and web trading for its users.
Android app: Upstox and HDFC SKY both list an Android trading app.
iOS app: Upstox and HDFC SKY both list an iOS trading app.
Web trading platform: Upstox and HDFC SKY both list a web trading platform.
Desktop trading terminal: Neither broker currently highlights a desktop trading terminal.
Algo trading: Upstox lists algo trading support, while HDFC SKY does not currently mention it.
Basket trading: Upstox and HDFC SKY both list basket trading.
Foreign stocks platform: HDFC SKY lists foreign stocks access, while Upstox does not currently mention it.
Mutual fund platform: Upstox and HDFC SKY both list a mutual fund investment platform.
Digital gold platform: Neither broker currently highlights digital gold investing.
Bonds platform: HDFC SKY lists a bonds investment platform, while Upstox does not currently mention it.
Upstox vs HDFC SKY — Complete Comparison of Trading Platforms
| Trading Platform | Upstox | HDFC SKY |
|---|---|---|
| Android App | Upstox Android App Link | HDFC SKY Android App Link |
| iOS App | Upstox iOS App Link | HDFC SKY iOS App Link |
| Web Trading Platform | Upstox Web Trading Link | HDFC SKY Web Trading Link |
| Trading Terminal | NA | NA |
| Algo Trading Platform | Available | NA |
| Foreign Stocks Platform | NA | Available |
| Basket Trading Platform | Available | Available |
| Mutual Fund Platform | Available | Available |
| Digital Gold Platform | NA | NA |
| Bonds Platform | NA | Available |
Upstox highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, while HDFC SKY promotes watchlists, real-time updates, portfolio tracking, online mutual fund access, research reports and global indices 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 Upstox and HDFC SKY offer this feature.
Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Upstox and HDFC SKY offer this feature.
Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Upstox and HDFC SKY offer this feature.
Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Upstox and HDFC SKY offer this feature.
Research reports: A comprehensive overview of different stocks and sectors in the stock market. HDFC SKY offers this; Upstox does not currently highlight it.
Global indices: Real-time data on leading global stock market indices. HDFC SKY offers this; Upstox does not currently highlight it.
Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. HDFC SKY offers this; Upstox does not currently highlight it.
Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. HDFC SKY offers this; Upstox does not currently highlight it.
Interactive charts: Visual price movement charts to help analyse when to buy or sell. Both Upstox and HDFC SKY offer this feature.
Live market: Live updates on market movements and trends. Both Upstox and HDFC SKY offer this feature.
Secure platform: A secure trading environment with next-generation security controls. Both Upstox and HDFC SKY offer this feature.
Upstox vs HDFC SKY — Comprehensive Comparison of Trading Features
| Trading Feature | Upstox | HDFC SKY |
|---|---|---|
| Wishlist | Yes | Yes |
| Real-Time Updates | Yes | Yes |
| Portfolio Details | Yes | Yes |
| Online MF Buy | Yes | Yes |
| Research Reports | No | Yes |
| Global Indices | No | Yes |
| Customised Recommendations | No | Yes |
| Stock Tips | No | Yes |
| 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 Upstox and HDFC SKY.
Free account opening: Upstox and HDFC SKY both list free account opening.
Free AMC: HDFC SKY lists free Demat AMC, while Upstox does not currently mention it.
Free brokerage: Neither broker currently highlights free brokerage.
Flat brokerage: Upstox and HDFC SKY 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: Neither broker currently highlights free delivery trading.
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: HDFC SKY lists free research reports, while Upstox does not currently mention it.
Free trading calls: HDFC SKY lists free trading calls, while Upstox does not currently mention it.
Zero brokerage for loss trades: Neither broker currently highlights zero brokerage for loss-making trades.
Referral offers: Upstox offers Upto Rs.700 per Client while HDFC SKY offers Rs.200 per Client for referrals.
Upstox vs HDFC SKY — Comparison of Latest Offers
| Offer | Upstox | HDFC SKY |
|---|---|---|
| Free Account Opening | Yes | Yes |
| Free AMC | No | Yes, Limited |
| Free Brokerage | No | No |
| Flat Brokerage | Yes | Yes |
| Flexible Brokerage Plans | No | No |
| Happy Trading Hours | No | No |
| Free Delivery Trading | No | No |
| Free Intraday Trading | No | No |
| Free F&O Trading | No | No |
| Free Research Reports | No | Yes |
| Free Trading Calls | No | Yes |
| Referral Offers | Upto Rs.700 per Client | Rs.200 per Client |
| Margin Funding / Pledging | Yes | Yes |
| Brokerage Cashback | No | No |
| Zero Brokerage for Loss-Making Trades | No | No |
Product availability determines whether a broker can support your preferred markets. Upstox highlights equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures, while HDFC SKY 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, mutual funds, foreign stocks, banking services, insurance, corporate bonds, government bonds and bonds.
Upstox vs HDFC SKY — Complete Comparison of Products
| Product | Upstox | HDFC SKY |
|---|---|---|
| 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 | Yes |
| Mutual Funds | Yes | Yes |
| Banking | No | Yes |
| Insurance | No | Yes |
| Corporate Bonds | No | Yes |
| Government Bonds | No | Yes |
| Digital Gold | No | No |
Demat services: Upstox and HDFC SKY both list Demat services.
Trading services: Upstox and HDFC SKY both list trading services.
Intraday services: Upstox and HDFC SKY both list intraday trading services.
F&O services: Upstox and HDFC SKY both list F&O services.
IPO services: Upstox and HDFC SKY both list IPO services.
3-in-1 account: HDFC SKY lists 3-in-1 account support, while Upstox does not currently mention it.
Stock research: HDFC SKY lists stock research, while Upstox does not currently mention it.
Stock recommendations: HDFC SKY lists stock recommendations, while Upstox does not currently mention it.
Trading education: Upstox lists trading education, while HDFC SKY does not currently mention it.
Share pledging: Upstox and HDFC SKY both list share pledging.
PMS or PCG: HDFC SKY lists PMS or PCG support, while Upstox does not currently mention it.
NRI services: HDFC SKY lists NRI services, while Upstox does not currently mention it.
Upstox provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while HDFC SKY offers Demat services, trading services, intraday trading, F&O trading, IPO access and 3-in-1 account support.
Upstox vs HDFC SKY — In-Depth Comparison of Services
| Service | Upstox | HDFC SKY |
|---|---|---|
| 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 | Yes |
| Stock Research | No | Yes |
| Stock Recommendations | No | Yes |
| Trading Education | Yes, UpLearn | No |
| Share Pledging | Yes | Yes |
| PMS or PCG | No | Yes |
| NRI Services | No | Yes |
Stock advisory helps investors choose appropriate stocks through research reports, tips, and market reviews. The table below shows which advisory products are available from Upstox and HDFC SKY.
Upstox and HDFC SKY — Detailed Comparison of Advisory Services
| Advisory | Upstox | HDFC SKY |
|---|---|---|
| Fundamental Reports | Yes | Yes, Chargeable |
| Research Reports | No | Yes, Chargeable |
| Company Reports | No | Yes |
| Annual Reports | No | Yes |
| IPO Reports | Yes | Yes |
| Technical Reports | No | Yes |
| Stock Tips | No | Yes, Chargeable |
| Daily Top Stock Picks | No | Yes, Chargeable |
| Daily Market Review | No | Yes |
| Monthly Review | No | Yes |
| Weekly Review | No | Yes |
| Relationship Manager | No | Yes, Chargeable |
| Robo Advisory | No | No |
Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Upstox and HDFC SKY across different segments.
Upstox and HDFC SKY — Comprehensive Comparison of Trading Exposure
| Exposure | Upstox | HDFC SKY |
|---|---|---|
| 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 | 1.3x | 1x |
Upstox and HDFC SKY both list a sub-broker program. Upstox and HDFC SKY both list a partner program. Upstox and HDFC SKY both list a referral program.
Upstox vs HDFC SKY — Comparative Analysis of Programs
| Program | Upstox | HDFC SKY |
|---|---|---|
| Sub-Broker Program | Yes, Limited | Yes, Limited |
| Partner Program | Yes | Yes |
| Referral Program | Yes | Yes |
Upstox provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. HDFC SKY provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.
Upstox and HDFC SKY — Comprehensive Comparison of Customer Support
| Support Channel | Upstox | HDFC SKY |
|---|---|---|
| Trading Support | Available, Chargeable | Available, Free |
| Dedicated Dealer | Available, Chargeable | Available, Free |
| Call Support | 022-41792999 | 022-68494702 |
| Email Support | [email protected] | [email protected] |
| WhatsApp Support | NA | 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. Upstox carries an overall rating of 9.80 / 10, while HDFC SKY carries an overall rating of 9.10 / 10.
Upstox vs HDFC SKY — Ratings Comparison
| Rating Parameter | Upstox | HDFC SKY |
|---|---|---|
| Overall Rating | 9.80 / 10 | 9.10 / 10 |
| Customer Support | 9.76 / 10 | 9.16 / 10 |
| Technology | 9.92 / 10 | 9.11 / 10 |
| Charges | 9.84 / 10 | 9.53 / 10 |
| Products & Services | 9.84 / 10 | 9.24 / 10 |
| Experience | 9.72 / 10 | 8.42 / 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.
Upstox & HDFC SKY — Comparison of Customer Complaints
| Complaint Metric | Upstox | HDFC SKY |
|---|---|---|
| Total Complaints Lodged | 299 | 6 |
| Total Complaints Resolved | 258 | 6 |
| % of Resolved Complaints | 86.29% | 100% |
| Non-Actionable Complaints | 28 | 0 |
| % of Non-Actionable Complaints | 9.36% | 0% |
Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Upstox and HDFC SKY.
Upstox vs HDFC SKY — Detailed Comparison of Transaction Charges
| Transaction Charges | Upstox | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.00325% (NSE) & 0.00375% (BSE) | 0.00350% (NSE) & 0.00375% (BSE) |
| Equity Intraday | 0.00325% (NSE) & 0.00375% (BSE) | 0.00350% (NSE) & 0.00375% (BSE) |
| Equity Future | 0.0019% (NSE & BSE) | 0.0019% (NSE & BSE) |
| Equity Option | 0.05% (on premium) | 0.053% (on premium) |
| Commodity Future | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) | 0.0021% (Non-Agri) / 0.006% (Agri) / 0.0005% (Special) |
| Commodity Option | 0.05% (Non Agri) | 0.05% (Non Agri) |
| Currency Future | 0.0009% (NSE) & 0.00022% (BSE) | 0.0009% (NSE) & 0.00022% (BSE) |
| Currency Option | 0.035% (NSE) & 0.001% (BSE) | 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.
Upstox & HDFC SKY — Comprehensive Comparison of Pledge Charges
| Pledge Charge | Upstox | HDFC SKY |
|---|---|---|
| Pledge Creation Charges | Rs.50 per Request | Rs.20 per Request |
| Pledge Invocation Charges | Rs.50 per Request | Rs.20 per Request |
| Margin Trading Interest | 0.048% per day | 0.075% 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.
Upstox and HDFC SKY — Detailed Comparison of Hidden / Other Charges
| Charge | Upstox | HDFC SKY |
|---|---|---|
| SEBI Turnover Charges | Rs.10/ Crore (All Segment) | Rs.10/ Crore (All Segment) |
| DP Charges | Rs.18.5 per Scrip only on Sell | Rs.20 per Scrip only on Sell |
| GST | 18% on (Brokerage + SEBI + Transaction charges) | 18% on (Brokerage + SEBI + Transaction charges) |
| Account Closure Charges | Free | Free |
| Reactivation Charges | Free | Free |
| Dematerialisation Charges | Rs.20 per Certificate | Rs.50 per Certificate |
| Call & Trade Charges | Rs.50 + 18% GST per Trade | Rs.20 per Call |
Upstox lists account opening charges of Free and Demat AMC of Rs.150 per Year + GST. HDFC SKY lists account opening charges of Free and Demat AMC of Rs.300 per Year (1st Year Free).
Upstox vs HDFC SKY — Detailed Comparison of Demat Charges
| Demat Charges | Upstox | HDFC SKY |
|---|---|---|
| Account Opening Charges | Free | Free |
| Annual Maintenance Charges (AMC) | Rs.150 per Year + GST | Rs.300 per Year (1st Year Free) |
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.
Upstox vs HDFC SKY — Comparative Analysis of STT and CTT Charges
| STT & CTT | Upstox | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.1% on buy & sell | 0.1% on buy & sell |
| Equity Intraday | 0.025% on sell | 0.025% on sell |
| Equity Future | 0.0125% on sell | 0.0125% on sell |
| Equity Option | 0.0625% on sell (on premium) | 0.0625% on sell (on premium) |
| Commodity Future | 0.01% on sell (Non-Agri) | 0.01% on sell (Non-Agri) |
| Commodity Option | 0.05% on sell | 0.05% on sell |
| Currency Future | Nil | Nil |
| Currency Option | Nil | 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.
Upstox and HDFC SKY — Comparison of Stamp Duty Charges
| Stamp Duty | Upstox | HDFC SKY |
|---|---|---|
| Equity Delivery | 0.015% on buy | 0.015% on buy |
| Equity Intraday | 0.003% on buy | 0.003% on buy |
| Equity Future | 0.002% on buy | 0.002% on buy |
| Equity Option | 0.003% on buy | 0.003% on buy |
| Commodity Future | 0.002% on buy | 0.002% on buy |
| Commodity Option | 0.003% on buy | 0.003% on buy |
| Currency Future | 0.0001% on buy | 0.0001% on buy |
| Currency Option | 0.0001% on buy | 0.0001% on buy |