Paytm Money Vs Upstox – Which Broker is Best For You?

Here is the detailed post comparing various features of Paytm Money and Upstox. It will help you to gain a clear picture of Paytm Money Vs Upstox to choose one of them as your stockbroker. 

Paytm Money Vs Upstox
Paytm Money Vs Upstox

If you are into stock investments, you would understand the trouble of choosing the right kind of broker who will fulfill your investment needs. I think it’s safe to say that the internet is a curse and a blessing for the current generation. The development in technology has led to many different broking services that provide the same services at a highly competitive price, making it difficult for us to choose. In today’s line up we have Paytm money and Upstox. Let’sLet’s see which one is better in the match of Paytm money vs. Upstox. 

It is no wonder that they both are excellent service, but they can be equally good. One of them will have at least a slight upper hand over the other. Before comparing them, let us look at a small preview of both the services. 

Paytm Money:

Paytm is one of the most famous money transferring apps, making online transactions much easier here in India. Another venture by them is brokering many investments. They are a “SEBI registered Investment Advisor “who on their website claim that their simplified user experience allows you to start your investment journey with zero paperwork” and that “We (they) are with you at every step of your investment journey.

Paytm Money
Paytm Money

Upstox:

With many famous companies like GVK Davis, Kalaari Capital, and Ratan Tata backing up the company by investing in it, Upstox is one of the well-known stock brokers in India. They have been in this industry since 2009 and have good expertise in it. 

Paytm money Vs Upstox:

  1. Customer review:

Both the services have great reviews, but Upstox has better reviews in comparison. They both have three-star ratings. However, Upstox has a 5.3/10 overall experience rating, and Paytm money has a 2.7/5 overall experience. Upstox has a rating of 6.5/10, and Paytm money has a rating of 2.8/5 for products and services. When it comes to the brokerage fees, the users have rated Upstox 9.5/10, and they have rated Paytm money 3.4/5.

  1. Offers:

Paytm and Upstox have their own set of offers which makes them suitable for different clients. They both offer a free trading account and various other discounts on brokerages. You can visit their websites to find out about specific details.

Paytm money even offers referral discounts; however, Upstox does not offer any referral discounts. Both the services do not provide a Demat account for free; you will have to pay a small sum of money to create your Demat account and maintain it. 

Paytm charges 300 rupees per annum as Demat AMC charges, and Upstox only charges rupees 150 per annum as Demat AMC charges. 

Paytm money also has flexible brokerage plans convenient for the customers, but Upstox is not as flexible. They both do not provide any holiday offers or trading happy hours; they also do not have any schemes like zero brokerages for loss-making trades. 

  1. Services:

Upstox does not provide the option of a 3 in 1 trading account, but it does have Robo advisory, which analyses your accounts and portfolio. Paytm money, on the other hand, does not have a Robo advisory. 

Upstox also has a higher trading exposure of up to 20x, and Paytm only has a 7.5x trading exposure. They both lack some features like a stock recommendation, PMS, trading institution, etc. On the contrary, they have many other valuable features like Demat service, trading services, intraday services, IPO services.  

  1. Online Platforms:

Paytm money and Upstox do not have a mobile app for different operating systems and only have Android phones. However, they have websites that are compatible with operating systems like Windows, Mac, etc. 

YOu can find any information through the website and apps like stock tips, research reports, news, real-time updates, portfolio details, etc. They even provide an option to buy mutual funds online.

Paytm does not have the option to get SMS alerts, but Upstox does, and both have email alerts features. Paytm also does not have any features for personalized advisory and multi-account management like Upstox.  

  1. Customer services:

Experts feel like both the firms are not “dedicated dealers.” Upstox only deals with online trading, but Paytm money has the option for both online and offline trading. They both do not have a 24*7 support system and toll-free numbers. 

Since both the firms operate online mostly, they do not have any branches and have only a single unit. 

Suppose you want more detailed information regarding the charges and prices of each firm. In that case, you should visit their website, and you can also use their personal query option to ask your doubts regarding the operation of the firms and their offers. 

Obviously, the competitive companies Upstox and Paytm have really good offers, and it is difficult to pick one over the other. However, if you noticed, Upstox seems to have better customer service and features to make your investment journey a smooth one. 

Every investor has different needs and values, and only one company might fit you right. So, we suggest that you do two things:

  • Make a checklist of your expectations
  • Make a pros and cons list of your final decision. 

By doing this, you will navigate the right broker for you, who will satisfy all your requirements. Research is one of the crucial parts when it comes to making decisions about online trading. So, do thorough research and analyze all the variety of options before you come to a conclusion and invest your money.

Conclusion

We really hope that this article about Paytm money Vs Upstox helped you understand the firms’ different features and learn about their various features and offers. We are so glad to be part of your big decision as dealing with money is no joke. Make a well-researched and informed decision, and you will indeed be headed towards victory. 

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