Upstox: Commodity Trading: Brokerage, Charges, Reviews: 2024

Commodity trading with Upstox is no different as compared to other commodity brokers in India. You have to open a Commodity trading account before traing in commodities.

The stock market is diverse in terms of trading practices that traders/brokers can execute. Through the various choices available for trading, one primary sector of the market erupts to be proficient and extensively traded daily. It’s nothing but the sector of “commodities.” That's what we'll discuss here.

What is Commodity Trading?

Commodity trading is the oldest form of trading; it’s been in existence since the incarnation of the stock markets. Commodity trading is nothing but the trading of a large number of goods such as gold, silver, copper, oil, natural gas, etc. along with soft commodities such as sugar, wheat, cocoa and coffee.

Investors often seek investments in commodities for a more extended period due to their volatility is increasing in prices. In contrast, there are scrumptious losses as well. Commodities derivatives are relatively safer all thanks to the hedge between its inflation/deflation of prices. It also helps in the diversification of an investors portfolio.

Commodity Trading with Upstox:

For any individual to trade in the stock market, then that person would require a commodity broker to engage that particular transaction. For this very instance, Upstox comes into the picture. Things at Upstox are quite clear and concise. To engage in commodity trade, the following steps would have to be followed.

1. Filling up of a Form

The form is primarily required to ensure the selection in the type of account that you are interested in opening. There are two options, namely, securities and commodities account.

The securities account would help traders to trade on F&O, Equities and currencies on the BSE and NSE. The other account helps traders to trade commodities on the MCX. Choose the MCX option to trade with commodities and proceed. So, if you wish to trade in commodities, you must select the respective option for it.

2. Uploading Documents

You will have to upload your documents. It’s a mandatory procedure, and all the necessary documents are provided below.

ID Proof: PAN card/Aadhaar card. Bank Proof: Passbook/ bank statement/ copy of cancelled cheque. Address Proof: Driving license/ passport/Voter ID/ Aadhaar card.

3. Start Trading

Once the documents are successfully verified, a client ID would be sent on your registered mobile number or email address. When the trading account is opened, you can initiate trading in shares and commodities.

Enter that into the Upstox website or into the mobile application to start traING effectively.

Note: Upstox offers a Basic Plan and a Pro Plan for their customers to choose. The services offered are variable.

Trading with Upstox

Though trading is carried out through the web and mobile applications, both have their perks. They are well designed and offer detailed graphs and live updates of the stock market about the commodity being traded.

100+ indicators help in deciding your investment strategy on both platforms. Making quick decisions and effortless withdrawals do make it a feasible solution for commodity trading.

Upstox has a relatively lower brokerage rate in comparison to others for commodity trading. Regards to intraday trading of any commodity, its 20 rupees per trade and free equity trading delivery with no hidden charges. As for opening up the account, its 150 rupees for the commodities account (i.e. MCX) with zero charges on maintenance.