HDFC Sky vs Upstox: Charges, AMC & Costs (2026)
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HDFC Sky: delivery brokerage lower of ₹20 or 2.5%, AMC ₹0 in year one, then ₹20 a month. Upstox: delivery ₹20 per order, AMC ₹0 in year one, then ₹300 + GST a year. A ₹1,00,000 delivery round trip costs ₹289.68 on HDFC Sky and ₹293.28 on Upstox.
Last updated: October 2026
This page compares HDFC Sky and Upstox on what you actually pay: brokerage, AMC, DP charges and the total cost of three sample trades. Charges were checked against each broker’s published pricing in October 2026 and can change, so confirm before you open an account. This is information, not investment advice.
HDFC Sky vs Upstox: charges side by side
| Charge | HDFC Sky | Upstox |
|---|---|---|
| Account opening | Free | ₹0 |
| Equity delivery brokerage | Lower of ₹20 or 2.5% | ₹20 per order |
| Equity intraday brokerage | Lower of ₹20 or 2.5% | Lower of ₹20 or 0.1% |
| Futures and options | Options ₹20 per order; futures lower of ₹20 or 2.5% | Options ₹20 per order; futures lower of ₹20 or 0.05% |
| Demat AMC | ₹20 a month, free for the first year | Free for the first year, then ₹300 + GST a year (non-BSDA) |
| DP charge on sells | ₹20 per demat transaction (GST not stated) | ₹20 per scrip sold (the examples add 18% GST) |
| Pledge | ₹20 per transaction | ₹20 + GST per scrip |
| Call and trade | ₹20 per call | ₹75 + GST per order |
| Auto square-off | ₹50 + GST per squared-off position | ₹75 + GST |
What the same trades cost on each broker
These examples add up brokerage, STT, exchange charges, SEBI fees, stamp duty, GST and the DP charge on a round trip (buy and sell). Delivery and intraday trades buy and sell ₹1,00,000 of shares once each. The options trade buys premium worth ₹50,000 and sells it for ₹60,000, with one lot per order. Amounts are rounded to the nearest paisa.
| Trade | HDFC Sky | Upstox |
|---|---|---|
| Delivery (₹1,00,000 buy and sell) | ₹289.68 | ₹293.28 |
| Intraday (₹1,00,000 buy and sell) | ₹82.68 | ₹82.68 |
| Options (₹50,000 buy, ₹60,000 sell) | ₹184.95 | ₹184.95 |
Delivery: HDFC Sky costs ₹3.60 less (₹289.68 against ₹293.28). Intraday: the two cost the same (₹82.68). Options: the two cost the same (₹184.95). Your own order sizes and how often you trade decide which costs less, so test them in the calculator.
HDFC Sky or Upstox: what to weigh
HDFC Sky may suit you if:
- you keep the account for years: AMC after year one is ₹20 a month against ₹300 + GST a year
- you sell shares often: the DP charge per sell is lower (₹20.00 against ₹23.60)
- you place phone orders: call and trade is cheaper (₹20 per call against ₹75 + GST per order)
Upstox may suit you if:
- you value features and service that this charges-only page does not cover
Both statements describe published charges, not a recommendation. Your own order sizes, how often you trade and how long you hold shares decide which costs more. Use the brokerage calculator to test your own numbers.
Full charge breakdowns
See every charge, worked examples and FAQs on the HDFC Sky charges page and the Upstox charges page. More pairs are on the broker comparisons hub.
HDFC Sky vs Upstox: FAQs
Which is cheaper for delivery, HDFC Sky or Upstox?
HDFC Sky on the ₹1,00,000 delivery example: ₹289.68 on HDFC Sky and ₹293.28 on Upstox. Delivery brokerage is lower of ₹20 or 2.5% at HDFC Sky and ₹20 per order at Upstox.
Which has the lower AMC?
HDFC Sky: ₹0 in year one, then ₹20 a month. Upstox: ₹0 in year one, then ₹300 + GST a year.
How do F&O charges compare?
HDFC Sky: Options ₹20 per order; futures lower of ₹20 or 2.5%. Upstox: Options ₹20 per order; futures lower of ₹20 or 0.05%. On the options example the round trip costs ₹184.95 on HDFC Sky and ₹184.95 on Upstox.
How do DP charges compare?
HDFC Sky: ₹20 per demat transaction (GST not stated). Upstox: ₹20 per scrip sold (the examples add 18% GST).
Is STT different between brokers?
No. STT is set by the government: 0.1% on buy and sell for delivery, 0.025% on the sell side for intraday, 0.05% on the sell side for futures and 0.15% on the sell premium for options. It is the same at every broker.
Sources
HDFC Sky: HDFC Sky pricing page. Upstox: Upstox brokerage charges page. STT, stamp duty, SEBI turnover fee and exchange transaction charges follow the rates set by the government, SEBI and the exchanges.
Brokerage, AMC and statutory charges change. This page is for information and education only, not investment advice.
