HDFC SKY vs. Upstox is an interesting comparison for traders and investors who like to explore new trading platforms. As a trader or investor, trying out every new trading platform for advanced and useful features is always wise.
In this article, I will walk you through the crucial differences between the two trading platforms to provide you with essential clarity about these platforms.
HDFC SKY vs. Upstox: Overview
HDFC SKY was launched this year by HDFC Securities, and the platform is based on a discount broking model. The platform comes with a wide range of financial products and is much better than HDFC Securities regarding pricing and features. For now, the platform looks promising.
Upstox entered the industry in 2009 and is one of India's most reliable and leading discount brokers. The platform is known for its excellent interface, trading applications, and customer support. Upstox provides users with various financial products to trade and invest in.
HDFC SKY vs. Upstox: Interface
HDFC SKY has a clean interface with everything neatly arranged. Users of all levels should find the interface user-friendly. Order windows and position management are also pretty intuitive.
Upstox has an interesting way of displaying market overviews and news without getting things cluttered. Everything is self-explanatory about the Upstox's interface. Even if you are a newbie, you should get the hang of it in merely a few minutes. Position management is also exceptionally simple in Upstox.
If we compare, Upstox has a better interface than HDFC SKY. It's also worth mentioning that you can customize Upstox's interface as per your requirements by simply toggling between Upstox For Investors and Upstox For Traders.
HDFC SKY vs. Upstox: Charges
HDFC SKY allows customers to open an account for zero charges. As far as AMC goes, the platform charges an AMC of ₹240.
HDFC SKY's brokerage charges are:
- Equity (Delivery & Intraday): ₹20 or 0.1% (Whichever is Lower).
- All Segment Futures (Intraday and Carry Forward): ₹20 or 0.1% (Whichever is Lower).
- All Segment Options (Intraday and Carry Forward): ₹20 per order.
Upstox doesn't charge any fee for account opening. Interestingly, unlike other online brokers, Upstox doesn't charge any AMC, making things more affordable for users.
Upstox has nominal brokerage charges, and the charges are:
- Equity Delivery: ₹20 or 2.5%, whichever is lower
- Equity Intraday and All Segment Futures: ₹20 per executed order or 0.05% (whichever is lower)
- All Segment Options: Flat ₹20 per executed order
Overall, Upstox has comparatively lower charges than HDFC SKY with no AMC. The brokerage charges are pretty much the same in the two brokers.
HDFC SKY vs. Upstox: Applications
HDFC SKY has fast and advanced applications across web and mobile platforms. The applications come with multiple watchlists, multiple order types, and the option to choose between ChartIQ and Tradingview. Besides, the trading applications are easy to use and have a clean interface.
Upstox has one of the finest applications in the industry and has applications for both web and mobile platforms. Besides, the applications are pretty advanced with Tradingview and Tick by Tick charting tools, Multiple order types like GTT, and excellent market overview. Most importantly, the applications are equally reliable on all platforms.
It's also worth mentioning that Upstox has a lot to offer when it comes to Options trading. The platform comes with Readymade Options Strategies and other advanced Options trading tools like Options Chain data.
HDFC SKY vs. Upstox: Customer Support
Regarding customer support, HDFC SKY has limited support to offer at the moment, with just tickets and FAQs. However, the platform may extend its support channel in times to come.
Upstox has the best in industry customer support, and most importantly, the platform offers comprehensive customer support through live chat, tickets, and phone. Besides, users can quickly refer to Upstox's documentation whenever needed.
HDFC SKY vs. Upstox: Pros & Cons
HDFC SKY Pros
- Zero account opening charges
- No AMC for the first year
- Wide range of financial products
- Advanced trading applications
- Tradingview and ChartIQ charting tools
- Nominal brokerage charges
HDFC SKY Cons
- Customer Support is pretty basic and needs to improve
Upstox Pros
- Zero account opening charges
- Zero AMC
- Various financial instruments to trade and invest
- Reliable trading applications across all device platforms
- Advanced charting tools
- Excellent customer support
- Readymade Options Strategies
Upstox Cons
- The web application gets slow sometimes.
You may also like: HDFC SKY vs. Angel One.
Conclusion
I have explained the various crucial HDFC SKY vs. Upstox points, including interface, charges, applications, and customer support. As you can see in the article, Upstox has an excellent track record, reasonable charges, and highly usable trading applications.
HDFC SKY is still a very new trading platform and has a long way to go to prove its reliability and be as acceptable as Upstox. It's too early to rely on this HDFC SKY, and I would recommend Upstox over HDFC SKY.
