Angel One vs Upstox Comparison (2026)
Side-by-side comparison of Angel One and Upstox: brokerage fees, account maintenance charges (AMC), IPO application speed, and trading app features.
Charges & Feature Comparison Table
| Parameter | Angel One | Upstox |
|---|---|---|
| Account Opening Fee | ₹0 (Free) | ₹0 (Free) |
| Annual Maintenance (AMC) | ₹0 for 1st year (then ₹20/mo) | ₹0 (Zero AMC) |
| Equity Delivery Brokerage | ₹0 (Free) | ₹20 or 2.5% |
| Equity Intraday Brokerage | Flat ₹20 or 0.03% | Flat ₹20 or 0.05% |
| Futures & Options (F&O) | Flat ₹20 per order | Flat ₹20 per order |
| IPO Application Flow | Robust IPO section with research calls and live subscription metrics | Pre-apply up to 3 days early with detailed company financials |
| Pre-Apply IPO Feature | Yes | Yes (up to 3 days in advance) |
| HNI / Shareholder Bidding | Yes (HNI, Retail and Employee quotas) | Yes |
| Active NSE Clients | 6M+ active clients | 2.5M+ active clients |
Angel One — Pros & Cons
Full-service expertise at discount pricing, backed by in-depth research and advisory.
Pros:
- Free equity delivery brokerage
- Complimentary institutional research reports and stock recommendations
- Powerful SmartAPI for algorithmic and automated traders
Cons:
- Frequent promotional alerts and cross-sell prompts in app
- AMC charged after the first year
Upstox — Pros & Cons
Tech-first trading platform backed by Ratan Tata, featuring advanced TradingView integration.
Pros:
- Integrated Pro TradingView charts with direct order placement
- Lifetime zero AMC and zero account opening fee
- Early pre-apply IPO window gives you a head start
Cons:
- Equity delivery is not free (₹20 per executed order)
- Customer support can be slow during market spikes
Final Verdict: Which Broker Should You Choose?
For Long-Term Investors & Listing Gain Sellers: If your priority is selling allotted IPO shares at zero brokerage, or building a long-term portfolio without trade commissions, Angel One is advantageous because equity delivery is 100% free.
For Casual IPO Applicants & Beginners: If you only open a demat account to apply for IPOs occasionally and do not want fixed annual charges eating into your account, Angel One offers lifetime zero AMC and a frictionless mobile bidding experience.
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