Upstox vs Nuvama – Compare Charges, Trading Features, Offers & More

Overview — Upstox vs. Nuvama

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.

Nuvama is listed as a Private Full Service established in 2008 with headquarters in Ahmedabad and founded by Rashesh Shah. It offers equity delivery, equity intraday, equity futures, equity options, commodity futures, commodity options and currency futures using mobile app access, web trading, desktop terminal access and algo trading support 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 Lite 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.

Brokerage charges comparison — Upstox vs. Nuvama

Brokerage is the primary cost to compare when choosing a broker. Below is a segment-by-segment breakdown for Upstox and Nuvama.

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 Nuvama charges Rs.10 per Trade 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 Nuvama charges Rs.10 per Trade 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 Nuvama charges Rs.10 per Trade.

Equity options: This charge applies to equity option contracts. Upstox charges Rs.20 per Trade while Nuvama charges Rs.10 per Trade.

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) . Nuvama does not currently list a charge for this segment.

Commodity options: This charge applies to option contracts on commodity instruments. Upstox charges Rs.20 per Trade . Nuvama does not currently list a charge for this segment.

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 Nuvama charges Rs.10 executed order.

Currency options: This charge enables traders to hedge or speculate on currency fluctuations. Upstox charges Rs.20 per Trade while Nuvama charges Rs.10 per Trade.

Trading platforms comparison — Upstox vs. Nuvama

Upstox provides mobile app access, web trading and algo trading support for order placement, portfolio tracking, and market monitoring. Nuvama provides mobile app access, web trading, desktop terminal access and algo trading support for its users.

• Android app: Upstox and Nuvama both list an Android trading app.

• iOS app: Upstox and Nuvama both list an iOS trading app.

• Web trading platform: Upstox and Nuvama both list a web trading platform.

• Desktop trading terminal: Nuvama lists a desktop trading terminal, while Upstox does not currently mention it.

• Algo trading: Upstox and Nuvama both list algo trading support.

• Basket trading: Upstox lists basket trading, while Nuvama does not currently mention it.

• Foreign stocks platform: Neither broker currently highlights foreign stocks access.

• Mutual fund platform: Upstox and Nuvama 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.

Upstox vs. Nuvama — Comparison of trading features

Upstox highlights trading features including watchlists, real-time updates, portfolio tracking, online mutual fund access, interactive charts and live market tracking, while Nuvama 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 Nuvama offer this feature.

• Real time updates: Get timely updates on market trends, stock prices, and other market data. Both Upstox and Nuvama offer this feature.

• Portfolio details: A detailed snapshot of all investments — stocks, bonds, and commodities — in one place. Both Upstox and Nuvama offer this feature.

• Online mf buy: Buy or sell mutual funds directly from the trading platform or mobile application. Both Upstox and Nuvama offer this feature.

• Research reports: A comprehensive overview of different stocks and sectors in the stock market. Nuvama offers this; Upstox does not currently highlight it.

• Global indices: Real-time data on leading global stock market indices. Nuvama offers this; Upstox does not currently highlight it.

• Customised recommendations: Personalised investment suggestions based on your objectives and behaviour patterns. Nuvama offers this; Upstox does not currently highlight it.

• Stock tips: Valuable tips on stocks to buy, hold, or sell based on market trends. Nuvama 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 Nuvama offer this feature.

• Live market: Live updates on market movements and trends. Both Upstox and Nuvama offer this feature.

• Secure platform: A secure trading environment with next-generation security controls. Both Upstox and Nuvama offer this feature.

Upstox vs. Nuvama — Comparison of offers

Stockbrokers use promotional offers to attract and retain clients. Below is a side-by-side comparison of the offers currently listed by Upstox and Nuvama.

• Free account opening: Upstox and Nuvama both list free account opening.

• Free AMC: Nuvama lists free Demat AMC, while Upstox does not currently mention it.

• Free brokerage: Neither broker currently highlights free brokerage.

• Flat brokerage: Upstox and Nuvama both list flat brokerage pricing.

• Flexible brokerage plans: Nuvama lists flexible brokerage plans, while Upstox does not currently mention it.

• 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: Nuvama lists free research reports, while Upstox does not currently mention it.

• Free trading calls: Neither broker currently highlights free trading calls.

• 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 Nuvama offers Upto Rs.1,000 per referral for referrals.

Offered products comparison — Nuvama vs. Upstox

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 Nuvama 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 and insurance.

• Demat services: Upstox and Nuvama both list Demat services.

• Trading services: Upstox and Nuvama both list trading services.

• Intraday services: Upstox and Nuvama both list intraday trading services.

• F&O services: Upstox and Nuvama both list F&O services.

• IPO services: Upstox and Nuvama both list IPO services.

• 3-in-1 account: Neither broker currently highlights 3-in-1 account support.

• Stock research: Nuvama lists stock research, while Upstox does not currently mention it.

• Stock recommendations: Nuvama lists stock recommendations, while Upstox does not currently mention it.

• Trading education: Upstox and Nuvama both list trading education.

• Share pledging: Upstox and Nuvama both list share pledging.

• PMS or PCG: Neither broker currently highlights PMS or PCG support.

• NRI services: Neither broker currently highlights NRI services.

Offered services comparison — Upstox vs. Nuvama

Upstox provides Demat services, trading services, intraday trading, F&O trading, IPO access and trading education, while Nuvama offers Demat services, trading services, intraday trading, F&O trading, IPO access and stock research.

Stock advisory service comparison — Upstox vs. Nuvama

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 Nuvama.

Exposure comparison — Upstox vs. Nuvama

Margin exposure allows traders to manage larger positions with less capital. Below is a comparison of the margin available from Upstox and Nuvama across different segments.

Comparison of programs — Upstox vs. Nuvama

Upstox and Nuvama both list a sub-broker program. Upstox and Nuvama both list a partner program. Upstox and Nuvama both list a referral program.

Customer support comparison — Upstox vs. Nuvama

Upstox provides support through trading desk support, dedicated dealer assistance, call support, email support and website support. Nuvama provides support through trading desk support, dedicated dealer assistance, call support, email support and website support.

Ratings — Upstox vs. Nuvama

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 Nuvama carries an overall rating of 8.41 / 10.

Complaints — Upstox vs. Nuvama

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.

Transaction charges comparison — Upstox vs. Nuvama

Transaction charges are levied by the stockbroker for executing each trade. Below is a segment-wise comparison for Upstox and Nuvama.

Pledge charges comparison — Upstox vs. Nuvama

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.

Hidden charges comparison — Upstox vs. Nuvama

Beyond brokerage, several statutory and operational charges apply. These include SEBI turnover fees, DP charges, GST, account closure, reactivation, dematerialisation, and call & trade charges.

Compare Demat charges — Upstox vs Nuvama

Upstox lists account opening charges of Free and Demat AMC of Rs.150 per Year + GST. Nuvama lists account opening charges of Free and Demat AMC of Rs.500 (Free for first year).

Upstox vs Nuvama — Compare STT & CTT

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.

Compare stamp duty — Upstox and Nuvama

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.

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