Upstox – when you struggle to innovate --- COPY

#1
Had an account with uptox but eventually closed it primarily cos they lack innovation and when you search about them online, they come access as the most progressive “thinkers” around.
Its ironic cos after Zerodha floated Rs 20 per executed trade brokerage, they were amongst the first ones to copy the plan exactly the same.

Then Zerodha launched a fintech fund few years back “Rainmatter”.. and now I read online that Upstox is coming up with hedge fund named “rainfund” --- seriously
And it doesn’t stop here it seems like they found another muse - FINVASIA. They are now shamelessly copying their leverage plan.

But Finvasia has played a very smart card by launching zero brokerage LOL none of the brokers have dared to go down that path.. they are just happy offering one segment for zero fees. It seems they learned from Zerodha’s mistakes.. their discount brokerage plan had a snowball affect with every other broker turning into a discount broker overnight. After Finvasia’s zero brokerage no body dared to do so..

So I’d rather have an account with FINVASIA & ZERODHA. because I think these companies have a strong competitive resilience as they were the ones that literally disrupted the brokerage space. Upstox will always be a good executor of others ideas never an innovator

Statutory warning: Imitating the best in the industry is not always a wise idea. Majority of them fail but some become RKSV/Upstox
 

msdtime

Active Member
#2
Every broker has his own Pros and cons.
Finvasia charges zero - but provide very little leverage. So not suitable for consistently profitable traders who use leverage. Off course they offer higher leverage in paid plans. Also there platforms are minimal to nothing. Scalpert suck and NOW also such these days. But they say they are updating platforms in 1-2 months.

Zerodha is problematic on volatile days. Also headache for options traders as quota is used up rapidly. Kite as a platform suck and stand like 2 steps below even pro.upstox.

You didn't mention Fyers. One of the best platforms. But customer base is very low and one don't know if they will copw with increased traffic.


The main agenda of your post was against Upstox. But upstox has a very good web platform. Also you must not have used dartstock. Or you have no use of it. Either way you missed dartstock. DARTSTOCK is one of the best platform with live scanners and what not.
I am sticking with upstox as a backup.
 

mastermind007

Well-Known Member
#3
Prerna

Imitation also require skills. There is nothing inherently wrong in building up on idea of another. so long as it does not violate any patents.

Microsoft, for a very long time, has flourished and decimated the competitors by consistently copying ideas and retained its customer base.

Many of the hit Hindi movies are copies from East West North South.... anywhere.....
 

superman

Well-Known Member
#4
I like Zerodha Copy cats , Gives me more option. if both are same , i will still go ahead with the one who is less arrogant and gives more care ! And any broker who has copied Zerodha gives us more damn than zerodha . I want more brokers to copy Zerodha !
 
#5
Everyone has the right to their own opinions. Rightly said @superman , we choose the one who is less arrogant and cares more. But I don't feel that about upstox. My experience with zerodha has been amazing and since moving to finvasia, I don’t have any doubts about them as well.. simply cos they care .

I was with upstox for this very small period of time when I lost money on their faulty platform,. They charge these unnecessary charges that they do not at all disclose either on their website or not while you call them to discuss the same. One thing that frustrates me now, not back then (cos I wasn’t aware about their copycat habit ) that their rep repeated convinced me investing big in their accounts citing their “disruptive” discount plans and free leverage.

I took the priority plan and agreed to pay 999 + 499 monthly charges to get more leverage. But my trades get stuck in middle, there app didn’t work. And their support team doesn’t care and don’t get back to you in time when you are stuck. They only literally ‘care’ when they call you to add funds .I’m venting out my frustration here on a public forum so that I’m heard and everyone notices what I did after burning my hand.

And they even sell your email/phone data in sure. Since signing up with them, i started getting calls/random texts to for tips and and other nonsense. what on earth are they thinking.

I really don’t see why I should be with a copycat then being with the ones who brought in the plans/ideas in the first place.

@mastermind007 , Point taken. And yes it does require skills to pull off cloning/coping others. Maybe Microsoft did it the right and upstox got it all wrong
 
#6
Everyone has the right to their own opinions. Rightly said @superman , we choose the one who is less arrogant and cares more. But I don't feel that about upstox. My experience with zerodha has been amazing and since moving to finvasia, I don’t have any doubts about them as well.. simply cos they care .

I was with upstox for this very small period of time when I lost money on their faulty platform,. They charge these unnecessary charges that they do not at all disclose either on their website or not while you call them to discuss the same. One thing that frustrates me now, not back then (cos I wasn’t aware about their copycat habit ) that their rep repeated convinced me investing big in their accounts citing their “disruptive” discount plans and free leverage.

I took the priority plan and agreed to pay 999 + 499 monthly charges to get more leverage. But my trades get stuck in middle, there app didn’t work. And their support team doesn’t care and don’t get back to you in time when you are stuck. They only literally ‘care’ when they call you to add funds .I’m venting out my frustration here on a public forum so that I’m heard and everyone notices what I did after burning my hand.

And they even sell your email/phone data in sure. Since signing up with them, i started getting calls/random texts to for tips and and other nonsense. what on earth are they thinking.

I really don’t see why I should be with a copycat then being with the ones who brought in the plans/ideas in the first place.

@mastermind007 , Point taken. And yes it does require skills to pull off cloning/coping others. Maybe Microsoft did it the right and upstox got it all wrong
Thanks for sharing your experience, I hope it will help someone make a good decision. On that note, be sure to skim through the Zerodha thread (at least the last dozen or so pages to get an idea), they have been having all kinds of issues for years.
 
#7
....
And they even sell your email/phone data in sure. Since signing up with them, i started getting calls/random texts to for tips and and other nonsense. what on earth are they thinking.
...
The people who do SPAM calls do not get data from brokers. They get data from exchanges. It is more practical.

Tapping into customer base of brokers is way too tedious and is also likely to littered with many dormant or inactive clients as well as wrong phone numbers. Security measures, storage formats at each broker is another hurdle they'd have to pass. Since every potential client of theirs has to be active trader, it is lot more easier to target exchange trade data. They get phone number and PAN number and trades details. If you ever make a huge loss, you will get calls from every single tips provider and institutes that teach trading as well. Indore and Rajkot are two active places where they operate from.
 

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