“Upstock”
What a fraudulent and shameless company.
You guys opened the account in the past under the pretense of “Lifetime free AMC”
The Upstock community is also filled with similar complaints, but they shamelessly denied it.
If you are a customer with an account at Upstock and believe you are eligible for Lifetime free AMC, please check and close the account if you are not trading regularly from it to avoid potential scams.
Thanks
he is absolutely right i also faced the similar issue
I have also faced the same issue and closed account recently. They behave shamelessly in terms of money without ethics. For Rs.350 they have foregone thousands of rupees in terms of brokerage if any. Least in least if we trade for 10 trades a year they will earn Rs.400 as brokerage royally n ethically. Fools of the industry to quote.
AI’s briefing of the situation:
AI’s recommendation list of top 5 brokers in India as on 16AUG2025.
A significant shift is underway as a larger portion of the population is moving away from traditional search engines, instead turning to generative AI platforms for recommendations and information discovery. This transition is driven by generative AI’s ability to understand context, provide personalized suggestions, and offer direct conversational responses—features that traditional keyword-based search engines often lack. According to Capgemini’s 2024 research, 58% of consumers surveyed had already replaced search engines with generative AI for shopping research, up from just 25% in 2023, marking a substantial change in digital behavior. This trend is emblematic of a broader transformation in how people seek and trust information online.
Turnaround time for change in AI’s change of Opinion.
AI is a buzz word this time but hardly few consider the little nuances of it.
Until and unless probed thoroughly, many times it provide incorrect or outdated information.
Well, being that said, all that depends on the data feed frequency majority of the times.
…just my experience.
@PravinJ Sir, does dhan old customers like us who opened account when AMC is zero, so if dhan starts charging AMC in future like upstox then will we get charged for AMC too?
Or it will be zero in that case too as it was promised as Lifetime Free AMC when we opened our account
I switched all my accounts from Upstox to Dhan. Exactly due to same reason.
I had Upstox account ever since Upstox was new entrant in market. And I was also on Lifetime free account.
I dont mind paying AMC but they should give proper intimation. But instead they deducted money directly from my Upstox balance.
Then I called them, and they replied - “we sent email on XYZ date”.
I do not remember reading any such email intimating about AMC charges. I always make sure to read every email.
But lets assume that I did overlook the email. So I asked them to send a copy of that email. But they refused to send that email again.
And then I also realized that they changed DEMAT charges from 6.5Rs to direct 20Rs. This also was not intimated.
And brokerage on Delivery was 0Rs and they increased that too directly to 20Rs.
And within 2-3 weeks, I transferred all shares to Dhan.
On reading one of the Upstox forum posts, there is someone who complained that Upstox sent email with subject - “Latest features” and mentioned new features and mentioned about AMC charges in that email.
Clearly this is intentional fraud committed by Upstox. By hiding charges within a promotional email.
Yes, they also claimed with me during the conversion that the email titled “Latest Features & Updates” contained updates on AMC pricing. They shamelessly referred to paragraphs 15 and 17 of the Upstock policies, which give them the right to change past schemes and charge any amount. They said that I had read and signed this when opening the account. When I mentioned taking legal action, they told me to do whatever I wanted and proceed with the case. I intend to lodge a complaint with SEBI in the coming days and then close the account.
@PravinJ is dhan also do like that ?? Suddenly start charging amc and start charging on delevery trade ?? This is serious things because first you say free for life time and then start charging and give excuses of points that we are mentioned in account opening form that we can change in future etc this is not a good things this break trust and damage brand image
Hi @BIR
We currently dont plan on introducing any AMC charges or brokerage on delivery trades. If we do consider to bring in, all our users will be notified way before for everyones knowledge.
It wont be a sudden surprise.
You guys are overthinking. 
@BIR @onkar @devil_trader
Dhan doesn’t do dirty business guys. I am sure no retrospective charging will ever be done here. You can all stay assured about this fact that there is never any hidden charges, hoodwinking, or any sort of unethical practices here.
Now have a very long experience with Dhan.
@thisisbanerjee
I am from the beginning of Dhan and always assume Dhan will follow the legacy they created.
This thread is mainly for calling out Upstock’s shameless behaviour and warning Dhan customers with multiple accounts across different brokers to avoid charges before closing the account.
Could you please let me know the process yiu followed? I mean, easiest and all is set up already.
Were you able to transfer shares in one single go? If yes, pls let me know how to did that. While I was checking, i didn’t get bulk option for transfer.
Thanks.
If you have single holder at Upstox DEMAT account you can simply use transfer-cum-closure option of Upstox.
No charges and all shares will get transferred. And very easy.
If not then follow this process:
I transferred in single go. There is Bulk setup option in EASIEST. Use that.
I think it allows 15 shares per Bulk setup process. So if you have say 30 shares then do Bulk setup two times. Pick 15 shares first time then pick remaining shares next time.
Little cumbersome process. You to select each share one by one, enter quantity, select reason/relation.
CDSL could have made it much easier but well thats how they chose it.
For second case, Upstox will charge you. I think 20Rs+taxes for each ISIN.
So first add appropriate balance to your Upstox account and then apply for transfer via EASIEST.
Else they will reject your transfer request without giving any reason (no email / no SMS) and you will never know what is the issue.
https://www.reddit.com/r/StockMarketIndia/comments/1kj8mlv/comment/msbbjwo/
Reddit post above is an eye opener.
Dont know if true. But based on my own experience for last few months I had with Upstox, looks to be completely true.
Improper and vague replies to tickets. Had to complain to SEBI scores twice to get my issue resolved.
They charge you on withdrawal (without showing same upfront on withdrawal page).
When I contacted them on why charges are not mentioned, they said it is there on their website under pricing page. So I am supposed to visit that page everytime to check if they changed pricing! Wow!
I had lots of trust on Upstox. I referred it to many people.
They broke it all. It is ok to charge money but without proper intimation and in random way is cheating and not acceptable.
Thanks for the details!
Yeah… 10 transfer requests per 1 bulk order.
That’s really a tedious task. But I would rather go via easiest rather than upstox to have the clarity of the charges applied.
I would suggest you take transfer-cum-closure route if there is only single holder. It is automatic.
With EASIEST method, you have to do all the transfer process accurately and with care. And after that deal with Upstox for approving the same.
And if there is technical issue, it is going to be very hard finding the reason from Upstox support team. I had technical issue and it took them many weeks and multiple emails / calls by me to find a solution.
Me too.
But they indeed have a good robust system & intuitive UI. That cannot be denied.
I too asked them about the changes in the charges, and yes, they had a mailer a month prior.
On a lighter note, we shouldn’t forget -
गंदा है पर धंदा है। और दूध का धुला कोई नहीं है।
As the Reddit post rightly says -
If some broker is free now, they are doing only to get customers.
