Broker comparison
Upstox vs Paytm Money (2026): Brokerage, API, AMC & Execution Compared
Side-by-side comparison of Upstox and Paytm Money from published official pricing and features — no affiliation with either broker.
| Metric | Upstox | Paytm Money |
|---|---|---|
| Delivery brokerage | ₹20 or 2.5% per order (whichever is lower) | ₹20 per order - see official pricing for current schedule |
| Intraday brokerage | ₹20 or 0.05% per order (whichever is lower) | ₹20 per order (flat) |
| F&O brokerage | ₹20 per order (flat) | ₹20 per order (flat) |
| AMC | ₹0 first year, then ₹300 + GST per year | ₹0 demat AMC (₹300 per year platform fee applies) |
| Account opening | Free (online) | See official pricing page |
| Trading API | Upstox API — Free (per official developer page) | Paytm Money API — See official developer page |
| Reported execution speed | ≈ 135 ms (median) | Not Disclosed |
| Algo support | Yes - via Upstox API | Yes - via trading API |
| Platforms | Upstox app, Upstox web (Pro) | Paytm Money app, Paytm Money web |
| Best for (published) | Intraday and options traders who prioritise app speed and a free API. | Paytm users who want investing and broking inside one ecosystem. |
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.
What the published data shows
Upstox publishes an execution-speed figure; Paytm Money does not on verifiable sources.
Tools & profiles
- Upstox full profile
- Paytm Money full profile
- Upstox brokerage calculator
- Paytm Money brokerage calculator
- Lowest brokerage brokers in India
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Frequently asked questions
Upstox vs Paytm Money: which has lower delivery brokerage?
At our last review, Upstox published delivery brokerage as "₹20 or 2.5% per order (whichever is lower)" and Paytm Money as "₹20 per order - see official pricing for current schedule". Plan-based or percentage pricing cannot always be reduced to a single winner — use the official pricing pages linked below.
Does Upstox or Paytm Money have a trading API?
Both have documented APIs at review time: Upstox (Upstox API), Paytm Money (Paytm Money API). Compare pricing and rate limits on each broker's developer page.
Which is faster — Upstox or Paytm Money?
Upstox publishes ≈ 135 ms (median). Paytm Money has no verifiable execution-speed figure we could cite.
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/
- Paytm Money - official website - https://www.paytmmoney.com
- Paytm Money - official pricing - https://www.paytmmoney.com/pricing