Broker comparison
Upstox vs Kotak Neo (Kotak Securities) (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Upstox and Kotak Neo (Kotak Securities) from published official pricing and features — no affiliation with either broker.
- 1 – 3Cheaper on example trades (Upstox – Kotak Neo (Kotak Securities))
- 5 – 6Published features (of 9)
| Metric | Upstox | Kotak Neo (Kotak Securities) |
|---|---|---|
| Delivery brokerage | ₹20 per order (flat) | 0.20% per order (Trade Free); 0.10% on Trade Free Pro (₹249/month) |
| Intraday brokerage | ₹20 or 0.1% per order (whichever is lower) | ₹10 or 0.05% per order (whichever is lower) |
| F&O brokerage | ₹20 per order (options); ₹20 or 0.05% per order for futures (whichever is lower) | ₹10 per order (flat) |
| AMC | ₹0 first year, then ₹300 + GST per year | Not Disclosed |
| Account opening | Free (online) | Free (online) |
| Trading API | Upstox API — Free (per official developer page) | Kotak Neo Trade API — Free (per official page) |
| Reported execution speed | ≈ 135 ms (median) | ≈ 80 ms (median) |
| Algo support | Yes - via Upstox API | Yes - via Neo Trade API |
| Platforms | Upstox app, Upstox web (Pro) | Kotak Neo app, Kotak Neo web, NEST terminal |
| Best for (published) | Intraday and options traders who prioritise app speed and a free API. | Kotak Bank customers wanting integrated broking with research. |
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 | Kotak Neo (Kotak Securities) | Cheaper |
|---|---|---|---|
| Intraday: ₹1 lakh buy & sell | ₹82.97 | ₹59.37 | Kotak Neo (Kotak Securities) (saves ₹23.6) |
| Delivery: ₹50,000 buy & sell | ₹178.98 | ₹379.58 | Upstox (saves ₹200.6) |
| Options: premium ₹100 × 75 | ₹66.43 | ₹42.83 | Kotak Neo (Kotak Securities) (saves ₹23.6) |
| Futures: ₹24,000 × 75 | ₹1,067.15 | ₹1,043.55 | Kotak Neo (Kotak Securities) (saves ₹23.6) |
Illustrative quantities. Try your own trade in the compare-all brokerage calculator.
Feature check
| Feature | Upstox | Kotak Neo (Kotak 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); Kotak Neo (Kotak Securities): ≈ 80 ms (median)) — methodologies differ; see each profile before comparing on speed alone.
Tools & profiles
- Upstox full profile
- Kotak Neo (Kotak Securities) full profile
- Upstox brokerage calculator
- Kotak Neo (Kotak Securities) brokerage calculator
- Lowest brokerage brokers in India
- All broker comparisons
Related comparisons
- Zerodha vs Upstox
- Zerodha vs Kotak Neo (Kotak Securities)
- Upstox vs Groww
- Upstox vs Angel One
- Upstox vs Dhan
- Upstox vs Fyers
Frequently asked questions
Upstox vs Kotak Neo (Kotak Securities): which has lower delivery brokerage?
At our last review, Upstox published delivery brokerage as "₹20 per order (flat)" and Kotak Neo (Kotak Securities) as "0.20% per order (Trade Free); 0.10% on Trade Free Pro (₹249/month)". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Upstox or Kotak Neo (Kotak Securities) have a trading API?
Both have documented APIs at review time: Upstox (Upstox API), Kotak Neo (Kotak Securities) (Kotak Neo Trade API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Upstox or Kotak Neo (Kotak Securities)?
Upstox publishes ≈ 135 ms (median); Kotak Neo (Kotak Securities) publishes ≈ 80 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 Kotak Neo (Kotak Securities)?
On our four example trades (intraday, delivery, options and futures), Upstox is cheaper on 1, Kotak Neo (Kotak Securities) on 3, and 0 are tied. 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/
- Kotak Neo (Kotak Securities) - official website - https://www.kotakneo.com
- Kotak Neo (Kotak Securities) - official pricing - https://www.kotakneo.com/pricing/