Angel One vs Upstox
Charges and features for options traders, side by side. Published rates checked Mon, 2 Nov, 2026.
| Feature | Angel One | Upstox |
|---|---|---|
| Options brokerage | ₹20 per order (free up to ₹500 in the first 30 days) | ₹20 per order |
| Equity delivery | ₹20 or 0.1%, whichever is lower (min ₹5) | ₹20 per order |
| Account opening | ₹0 | ₹0 |
| Demat AMC | Free in year 1; then ₹60 + GST a quarter (BSDA under ₹4 lakh free) | Free in year 1; then ₹300 + GST a year |
| Platforms | Angel One app and web | Upstox app and Upstox Pro |
| Options tools | Option chain | Option chain |
| NSE active clients | 67.6 lakh (NSE, Sep 2026) | 18.5 lakh (NSE, Sep 2026) |
Angel One
Full-service heritage, discount pricing; strong reach beyond the big cities.
- Introductory free-brokerage period
- Wide branch and partner network
- Quarterly AMC after the first year
- Delivery trades are not free
Upstox
Discount broker with a clean app and a pro trading terminal.
- Simple flat pricing
- Pro terminal for active traders
- Delivery trades cost ₹20 each
- AMC after the first year
Want to see what your own trading would cost at each broker? Use the brokerage calculator.
Frequently asked questions
Is Angel One or Upstox cheaper for options trading?
Both charge ₹20 per order (free up to ₹500 in the first 30 days) per options order, and statutory charges such as STT are the same at both. Differences are in delivery charges, AMC and tools.
Are Angel One and Upstox regulated?
Both are SEBI-registered stock brokers and members of NSE and BSE. Client money and securities are covered by the exchanges' rules on segregation.
Can I have accounts with both Angel One and Upstox?
Yes. You can hold demat and trading accounts with more than one broker; each charges its own AMC.
Does the broker change STT or exchange charges?
No. STT (0.15% of premium on the sell side), exchange charges, the SEBI fee and stamp duty are the same at every broker. Only brokerage and account charges differ.