byThere is no Upstox coupon code, and you don’t need one. Upstox account opening is already ₹0 for everyone, the first-year demat AMC is ₹0 for newly onboarded users, and mutual funds and IPO applications carry zero commission. Every site advertising an Upstox promo code to unlock those things is reselling the standard offer.
What Upstox actually charges is simple: a flat ₹20 maximum brokerage per executed order across delivery, intraday, F&O, currency, and commodity. The signup link below opens the same free account the coupon hunt is looking for, with the current offers applied automatically.
Every Upstox offer that actually exists in 2026
Signing up through the link gets you the full current offer set:
- ₹0 account opening for the demat plus trading account
- ₹0 annual maintenance charge for the first year for newly onboarded users
- Zero commission on mutual funds and IPO applications
- Flat ₹20 maximum brokerage per executed order, whatever the trade size
Upstox charges
| Fee Type | Amount |
|---|---|
| Account Opening | Free |
| Demat Annual Maintenance | ₹0 first year; then ₹300 + GST for non-BSDA accounts |
| Equity Delivery Brokerage | ₹20 per executed order |
| Intraday Brokerage | ₹20 per order or 0.1%, whichever is lower |
| Futures Brokerage | ₹20 per order or 0.05%, whichever is lower |
| Options Brokerage | Flat ₹20 per order |
| Mutual Funds | Zero commission |
| IPO Applications | Zero commission |
Statutory charges like STT, GST, stamp duty, and exchange fees apply on top, as they do at every broker. One honest note: Upstox used to price equity delivery at zero and no longer does. Zerodha still keeps delivery free, so if buy-and-hold delivery investing is all you plan to do, weigh that ₹20 per order before opening the account.
Why I recommend Upstox
Upstox has grown past 1 crore users, making it one of India’s largest brokers. The app is well-designed, fast enough for intraday work on Android and iOS, and covers stocks, futures, options, mutual funds, digital gold, and IPOs from one account. If you’re starting out, the stock market for beginners guide pairs well with it.
The charting runs 100+ technical indicators and the web platform handles analysis comfortably. It’s not as feature-rich as Zerodha’s Kite, but it covers what most traders need at the same flat price.
How to open an Upstox account
The whole process is online and paperless. Keep these ready:
- PAN card
- Aadhaar card (linked to your mobile number for OTP verification)
- Bank account details (IFSC code and account number)
- Passport-size photo
- Signature on a blank white paper
Then it’s an 8-step flow:
- Visit the Upstox account opening page (current offers applied)
- Enter your mobile number and verify with OTP
- Fill in your PAN number and date of birth
- Add personal details (income, trading experience, marital status)
- Choose your trading segments (Equity, F&O, Currency, or Commodity)
- Add your bank account details
- Verify with Aadhaar OTP
- Upload KYC documents (photo, signature, PAN, Aadhaar)
Accounts typically activate within 24-48 hours, and login credentials arrive by email.
What you get with an Upstox demat account
- 100+ charting indicators and studies
- Real-time market data and price alerts
- Zero-commission mutual funds, including SIP
- Flat ₹20 maximum brokerage per order across segments
- Direct IPO applications
- Digital gold buying and selling
Frequently Asked Questions
What is the Upstox coupon code?
Upstox doesn’t issue coupon codes. Account opening is already free for everyone, and offers like the zero first-year AMC apply automatically when you sign up. Any Upstox promo code listing that promises a special discount is repackaging the standard offer.
Is Upstox account opening really free?
Yes, ₹0 for the demat plus trading account. The first-year annual maintenance charge is also ₹0 for newly onboarded users; from the second year it’s ₹300 plus GST unless your account qualifies as a BSDA.
How much brokerage does Upstox charge?
A flat ₹20 maximum per executed order. Delivery is ₹20, intraday is ₹20 or 0.1% whichever is lower, futures are ₹20 or 0.05%, and options are flat ₹20. Mutual funds and IPO applications carry zero commission. Statutory charges like STT and GST apply extra.
Does Upstox have offers for existing users?
Current Upstox offers center on new accounts: free opening and the zero first-year AMC. Existing users get refer-and-earn rewards from inside the app rather than coupon-style discounts.
Is Upstox safe to use?
Yes. Upstox is registered with SEBI, NSE, BSE, and CDSL. Your funds and securities are protected under standard Indian brokerage regulations, and all transactions are encrypted.
Can I use Upstox for mutual fund SIP?
Yes. Upstox offers zero-commission mutual fund investing, including SIPs, and you can invest in direct mutual fund plans through the Upstox app.
Upstox stays one of the cheapest full-service discount brokers in India even after the delivery-fee change. Open the account through the link above and every current offer applies on its own. No code required.