Broker comparison
Upstox vs IIFL Securities (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Upstox and IIFL Securities from published official pricing and features — no affiliation with either broker.
- 3 – 0Cheaper on example trades (Upstox – IIFL Securities)
- 5 – 5Published features (of 9)
| Metric | Upstox | IIFL Securities |
|---|---|---|
| Delivery brokerage | ₹20 per order (flat) | 0.25% per order (Investor Plan - Online Plus, per official rate card) |
| Intraday brokerage | ₹20 or 0.1% per order (whichever is lower) | 0.025% per order (Investor Plan - Online Plus) |
| F&O brokerage | ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) | Futures 0.025% per order; options ₹25 per lot (Investor Plan - Online Plus) |
| AMC | ₹0 first year, then ₹300 + GST per year | Free first year, then ₹250 + GST per year |
| Account opening | Free (online) | Free (₹0 online) |
| Trading API | Upstox API — Free (per official developer page) | IIFL Securities API |
| Reported execution speed | ≈ 135 ms (median) | ≈ 95 ms (median) |
| Algo support | Yes - via Upstox API | Yes - via IIFL trading API |
| Platforms | Upstox app, Upstox web (Pro) | IIFL Markets app, IIFL web (Trading Terminal), IIFL NEST desktop |
| Best for (published) | Intraday and options traders who prioritise app speed and a free API. | Investors who want a full-service broker with in-house research and wide product coverage. |
Statutory charges (STT, exchange fees, GST, etc.) are not included. Figures are from official pricing pages at our last review — verify before opening an account.
Cost face-off: what real trades cost
| Trade | Upstox | IIFL Securities | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹82.97 | ₹95.06 | Upstox (saves ₹12.09) |
| Delivery: ₹50,000 buy & sell | ₹178.98 | ₹441.53 | Upstox (saves ₹262.55) |
| Options: premium ₹100 × 75 | ₹66.43 | Not modelled | - |
| Futures: ₹24,000 × 75 | ₹1,067.15 | ₹2,083.06 | Upstox (saves ₹1,015.91) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | Upstox | IIFL Securities |
|---|---|---|
| Free delivery | – | – |
| Zero AMC | – | – |
| Free API | ✓ | – |
| TradingView | – | – |
| MCX commodity | ✓ | ✓ |
| Mutual funds | ✓ | ✓ |
| IPO | ✓ | ✓ |
| Research desk | – | ✓ |
| Published speed | ✓ | ✓ |
What the published data shows
Both publish execution-speed figures (Upstox: ≈ 135 ms (median); IIFL Securities: ≈ 95 ms (median)) — methodologies differ; see each profile before comparing on speed alone.
Tools & profiles
- Upstox full profile
- IIFL Securities full profile
- Upstox brokerage calculator
- IIFL Securities brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
Related comparisons
- Zerodha vs Upstox
- Zerodha vs IIFL Securities
- Upstox vs Groww
- Upstox vs Angel One
- Upstox vs Dhan
- Upstox vs Fyers
Frequently asked questions
Upstox vs IIFL Securities: which has lower delivery brokerage?
At our last review, Upstox published delivery brokerage as "₹20 per order (flat)" and IIFL Securities as "0.25% per order (Investor Plan - Online Plus, per official rate card)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Upstox or IIFL Securities have a trading API?
Both have documented APIs at review time: Upstox (Upstox API), IIFL Securities (IIFL Securities API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Upstox or IIFL Securities?
Upstox publishes ≈ 135 ms (median); IIFL Securities publishes ≈ 95 ms (median). Sources and methodologies differ (including self-reported vs third-party figures) — they are not directly comparable without reading each source.
Is Upstox cheaper than IIFL Securities?
On our four example trades (intraday, delivery, options and futures), Upstox is cheaper on 3, IIFL Securities on 0, and 0 are tied, with the rest not modelled from published pricing. Statutory charges are identical, so any difference comes from brokerage.
Are these comparisons independent?
Yes. Indian Broker Test is not affiliated with, sponsored by, or endorsed by any broker. Rankings and comparisons use only published official data; gaps are shown as Not Disclosed.
Sources
- Upstox - official website - https://upstox.com
- Upstox - official pricing - https://upstox.com/brokerage-charges/
- IIFL Securities - official website - https://www.iiflcapital.com
- IIFL Securities - official pricing - https://www.iiflcapital.com/brokerage-charges