UPSTOX Startup Story
Upstox is a discount brokerage service that operates online. Kalaari Capital, GVK Davix, and Ratan Tata are among the investors. In 2008, it was registered as RKSV Securities, primarily as a proprietary trading firm, and in 2012, it expanded into the retail brokerage area.
The company is based in Mumbai, India, and is a member of the BSE, NSE, MCX, and MCX-SX exchanges. It is India’s fastest-growing broker, with the goal of empowering investors and traders to achieve financial success. Upstox (a.k.a. RKSV Securities), India’s second-largest stockbroker, is a tale of youthful entrepreneurs capitalizing on the country’s growing digital use in the financial markets.
Because of the rapid pace of digitizing in recent months, the company, which took about 10 years to reach its first 10 lakh, active clients, now expects to reach 20 lakh in the next few months.
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How did it start?
RKSV was the initial name of Upstox’s bargain brokerage firm. Upstox began its adventure in 2009 and is now ranked in the top five brokerage houses in India, as well as the second-largest discount broker in terms of active consumers.
Upstox is a 100 percent online broker that specializes in equity, derivatives, currency, commodities, mutual funds, initial public offerings (IPOs), GSec, and bonds. The company is based in Mumbai, India, and is a member of the BSE, NSE, MCX, and MCX-SX exchanges.
In 2009, Upstox introduced two new plans: unlimited trading and Rs 20 discount brokerage. After a few years, the broker discontinued its unlimited trading plan and is now solely focused on bargain brokerage. RKSV was the initial name of Upstox’s bargain brokerage firm. Upstox began its adventure in 2009 and is now ranked in the top five brokerage houses in India, as well as the second-largest discount broker in terms of active consumers.
Upstox is a 100 percent online broker that specializes in equity, derivatives, currency, commodities, mutual funds, initial public offerings (IPOs), GSec, and bonds. In 2009, Upstox launched two plans: an unlimited trading plan and a Rs 20 discount brokerage plan. After a few years, the broker has discontinued its unlimited trading package and is now solely focused on inexpensive brokerage.
UPSTOX Working Hours :
Upstox has several trading hours for different types of deals, including:
- Trading hours for NSE Cash, BSE Cash, and NSE F&O are 9:15 a.m. to 3:30 p.m.
- Trading hours for NSE Currency Derivatives are 9 a.m. to 5 p.m.
- Trading hours on the MCX are divided into two sections. From April through October, the first one is open from 10 a.m. until 11:30 p.m. From November to March, the second one operates from 10 a.m. to 11:55 p.m. The market is open from 10 a.m. to 2 p.m. on Saturdays.
UPSTOX Benefit :
The Securities and Exchange Board of India (SEBI) has certified Upstox, and it is a member of all of India’s major exchanges, including the NSE, BSE, and MCX. It has also just announced the establishment of a worldwide investing platform that will allow anyone to invest in global enterprises.
There are numerous advantages to investing through Upstox, including:
- Upstox saves money because it doesn’t charge brokerage based on a percentage of turnover.
- Simple and straightforward brokerage strategy.
- One of the most advanced trading platforms and mobile apps available. All of your investment needs may be met with a single sign-in.
- The account opening process is simple and user-friendly, and your account will be operational in 1-2 days.
- Traders can take advantage of a variety of high-quality services provided by the organization to ensure a smooth trading experience.
How does UPSTOX work?
Through its Pro web and mobile trading platforms, Upstox is one of the leading brokers, providing smart, hassle-free, and convenient online trading. Across all segments, the broker offers zero brokerage delivery trading and a flat discount brokerage of Rs. 20.
The steps to begin online trading with Upstox are as follows:
- Open a Demat and Trading Account with Upstox
- Log in to your Pro app or online platform account
- Funds should be transferred to a Upstox Securities and/or Commodity Account
- Add the stock to your watchlist and begin making your orders
About Ravi Kumar ( UPSTOX CEO )
Ravi is a co-founder and member of the Upstox Board of Directors. He graduated from the University of California, Irvine with a Bachelor of Science in Computer Science. At Upstox, Ravi is in charge of product development and investor relations. Prior to joining Upstox, he worked on his own money with his brother Raghu, devising several automated trading systems to trade on foreign currency markets around the world.
Ravi has also worked in engineering and business development at thinkorswim/TD Ameritrade. Upstox, a leading fintech brokerage startup, now has Ravi Kumar as its co-founder and CEO. He has been a stock market trader since he was 16 years old. Upstox has more than doubled its number of clients in the last year under Ravi’s leadership. Ravi Kumar decided to launch a financial business in India. Mr. Ratan Tata has invested in Upstox, an online bargain stockbroker. He owned 1.33 percent of the corporation.
Kavitha is a co-founder and member of the Upstox Board of Directors. She is responsible for Upstox’s growth, strategy, finance, and customer experience. Kavitha graduated from the Indian Institute of Technology, Bombay, with a B.Tech and M.Tech in Electrical Engineering, as well as an MBA from the University of Pennsylvania’s Wharton School. Prior to joining Upstox, Kavitha worked as a healthcare private equity investor at Leapfrog Investments and Actis Investments. She worked for McKinsey and Co. as a management consultant and for SKS Microfinance as a microfinance consultant.
Shrini is a co-founder and member of the Upstox Board of Directors. Shrini is in charge of technology at Upstox. He graduated from the University of Illinois at Urbana-Champaign with a bachelor’s degree in science. He’s a high-frequency trading expert who’s spent a lot of time in the field of automated trading developing low-latency, highly scalable systems. Shrini worked at Citibank in several executive positions before joining Upstox/RKSV.