Angel One vs Upstox
Updated November 2026 · AppBreakup editorial
Angel One
Indian full-service broker app for stocks, F&O, mutual funds, IPOs and commodities.
Upstox
Indian discount broker app for stocks, F&O, commodities, mutual funds and IPOs.
The short answer
Angel One suits Indian investors who want research reports and stock recommendations alongside a low-cost trading app, plus a free first month. Upstox suits traders who want flat-fee orders, TradingView charts, a trading API and US stocks, without advisory. The biggest difference: Angel One is a full-service broker with research, while Upstox is a discount broker focused on tools and predictable fees.
Angel One or Upstox: our take
Both are large Indian brokers with apps on Android, iOS and the web, covering stocks, futures and options, currencies, commodities, mutual funds and IPOs. Both open accounts for free, charge no brokerage on mutual funds and IPOs, and waive the account maintenance charge in the first year. Angel One says it has 3.8 crore+ registered users and positions itself as full-service, with research, stock recommendations and a nationwide network of authorised persons. Upstox, licensed in 2010, says it has 2 crore+ users and follows the discount-broker model without research or advisory.
Brokerage is close. Upstox charges ₹20 per executed order on equity delivery, and equity options are a flat ₹20 per executed order. Angel One charges the lower of ₹20 or 0.1% per executed equity order, so small delivery trades can cost less, and ₹20 per executed F&O order; new customers also get ₹0 brokerage up to ₹500 for the first 30 days. After the first year, Upstox charges ₹300 + GST for non-BSDA accounts, and Angel One also applies a maintenance charge from year two.
The tools differ more than the fees. Upstox lets traders switch between its own charts and a built-in TradingView chart, and offers option chains, screeners, a trading API and the Algoverse algo platform, plus US stock investing and Uplearn courses for beginners. Angel One focuses on guidance: research reports, recommendations and in-app learning aimed at newer investors in smaller cities as well as active traders, though some self-directed users find the recommendations and promotions pushy.
Pick Angel One if you want research and stock ideas in the same app, or if you make many small delivery trades. Pick Upstox if you prefer TradingView charts, want to automate strategies through an API, or want access to US stocks, and you are comfortable making your own decisions.
Which should you pick?
Choose Angel One if…
- Indian investors who want research and recommendations along with a low-cost trading app
- Free account opening and no maintenance charge in year one
- Research reports and stock recommendations included
Choose Upstox if…
- Indian traders who want flat-fee F&O trading with TradingView charts and API access
- Flat ₹20 maximum brokerage per order across segments
- No brokerage on mutual funds and IPOs
About each app
What is Angel One?
Angel One (formerly Angel Broking) is one of India's largest retail brokers, with more than three decades in the business and over 3.8 crore registered users by its own count. Unlike pure discount brokers, it calls itself a full-service house: alongside the trading app it offers research, stock recommendations, a network of authorised persons around the country and in-app learning. The app and web platform cover equities, futures and options, commodities, currencies, mutual funds, IPOs and margin trading. Account opening is free, new customers get no brokerage in their first 30 days (up to a cap) and no maintenance charge in the first year, and mutual fund and IPO investments carry no commission. After the introductory period, trades are charged per order. Angel One moved to a digital-first model in 2019 and now targets newer investors in smaller cities as well as active traders. It runs on Android, iOS and the web.
What is Upstox?
Upstox is a Mumbai-based discount broker whose app and web platform let Indian investors trade stocks, futures and options, currencies and commodities, and invest in mutual funds, IPOs and US stocks. It got its broking licence in 2010, and it now says more than 2 crore Indians use it. Pricing follows the flat-fee model: equity delivery, intraday and F&O orders cost up to ₹20 per executed order, while mutual funds and IPO applications have no brokerage and there's no account maintenance charge for the first year. Traders can switch between Upstox's own charts and a built-in TradingView chart, use option chains and screeners, and connect their own code through a trading API and the Algoverse algo platform. Uplearn courses and webinars cover the basics for new investors. Upstox runs on Android, iOS and the web, and it is one of the main alternatives to Zerodha for people who want low, predictable fees.
Side by side
| Attribute | Angel One | Upstox |
|---|---|---|
| Pricing | Free plan + paid | Free plan + paid |
| Open source | No | No |
| Self-hostable | No | No |
| Platforms | Web, Android, iOS | Web, Android, iOS |
| Best for | Indian investors who want research and recommendations along with a low-cost trading app | Indian traders who want flat-fee F&O trading with TradingView charts and API access |
| Status | Active | Active |
Verified facts, compared
Facts both apps publish, checked on each vendor's own site.
| Fact | Angel One | Upstox |
|---|---|---|
| Account opening | ₹0 | Free |
| Mutual funds and IPOs | ₹0 commission | ₹0 brokerage |
Angel One vs Upstox pricing
Angel One: free plan + paid
- Starting price: Lower of ₹20 or 0.1% per executed equity order source
Platforms
| Platform | Angel One | Upstox |
|---|---|---|
| Web | ||
| iOS | ||
| Android |
Angel One facts
9 of 9 verified- Account opening
- ₹0
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “₹0 Account Opening Charges”
- Introductory brokerage
- ₹0 for the first 30 days, up to ₹500
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “0 Brokerage* across all segments for first 30 days, up to ₹500.”
- Mutual funds and IPOs
- ₹0 commission
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “0 ₹ Interest on MTF for first 30 days 0 ₹ 0 Commission for Mutual Funds & IPO”
- Registered users
- 3.8 crore+
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “Trusted by over 3.8 Cr+ clients, Angel One is one of India’s leading retail full-service broking houses.”
- Digital since
- 2019
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “We began our “Digital Journey” in the year 2019 by offering an end-to-end digital investment solution to our customers.”
- Starting price
- Lower of ₹20 or 0.1% per executed equity order
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “lower of ₹20 or 0.1% per executed order, minimum ₹5** ₹0 brokerage upto ₹500 for first 30 days* Then lower of ₹20 or 0.”
- F&O brokerage
- ₹20 per executed order
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “Then, ₹20 per executed order”
- Introductory offer
- ₹0 brokerage up to ₹500 for the first 30 days
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “₹0 brokerage upto ₹500 for first 30 days”
- AMC
- ₹0 for the first year
- Checked Nov 8, 2026angelone.in(opens source in a new tab)
- “flat ₹0 AMC for first year.”
Upstox facts
7 of 7 verified- Equity delivery brokerage
- ₹20 per executed order
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Equity Delivery ₹20 per executed order”
- Mutual funds and IPOs
- ₹0 brokerage
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “₹ 0 Brokerage * On Mutual Funds and IPOs”
- Broking licence
- 2010
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Read More 2010 Its Official! We receive our licence to begin our trading business in India under Upstox Securities Pvt.”
- Users
- 2 crore+
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Loved & Trusted by 2 crore+ Indians”
- Account opening
- Free
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Account Opening Fees Free”
- Equity options brokerage
- Flat ₹20 per executed order
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “Options Flat ₹20 per executed order.”
- Account maintenance
- ₹0 in the first year, then ₹300 + GST (non-BSDA)
- Checked Nov 8, 2026upstox.com(opens source in a new tab)
- “AMC ZERO AMC is applicable for newly onboarded customers in the first year Non-BSDA users: AMC of ₹ 300 + GST BSDA Users: Know more 3.”
Pros and cons of Angel One
- Free account opening and no maintenance charge in year one
- Research reports and stock recommendations included
- No commission on mutual funds and IPO applications
- Free brokerage lasts only 30 days, then per-order fees apply
- Recommendations and promotions can be pushy for self-directed investors
- Maintenance charge applies after the first year
Pros and cons of Upstox
- Flat ₹20 maximum brokerage per order across segments
- No brokerage on mutual funds and IPOs
- TradingView charts and a trading API built in
- Equity delivery trades cost ₹20 per order, not free
- Account maintenance charge applies after the first year
- No research or stock advisory like a full-service broker
Other apps to consider
Zerodha KiteInstead of Angel One
Free equity delivery trades and no sales pitch, for investors who make their own calls.
GrowwInstead of Angel One
No maintenance charges and a cleaner, beginner-focused app for funds and stocks.
Kotak NeoInstead of Angel One
Bank-backed broker with flat ₹10 intraday and F&O brokerage, free trading APIs and a zero-delivery-brokerage plan for under-30s.
Angel One vs Upstox: common questions
Is Angel One better than Upstox?
Angel One suits Indian investors who want research reports and stock recommendations alongside a low-cost trading app, plus a free first month. Upstox suits traders who want flat-fee orders, TradingView charts, a trading API and US stocks, without advisory. The biggest difference: Angel One is a full-service broker with research, while Upstox is a discount broker focused on tools and predictable fees.
Is Angel One free?
Angel One has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is Upstox free?
Upstox has a free plan, with paid plans for more features. See its verified pricing facts above for current limits.
Is Angel One or Upstox open source?
Neither is open source.
Which platforms do Angel One and Upstox support?
Angel One: Web, Android and iOS. Upstox: Web, Android and iOS.