Let’s say you want to buy stocks worth ₹10,00,000. Here’s the difference between Delivery, MTF, and Cashless MTF: Delivery → You pay the full ₹10 lakh upfront.

Mode of Buying	Cash Paid by You	Funded by Upstox	Pledge Margin	Total Order Value
Delivery	₹10,00,000	₹0	₹0	₹10,00,000
MTF	₹2,50,000	₹7,50,000	₹0	₹10,00,000
Cashless MTF	₹0	₹7,50,000	₹2,50,000	₹10,00,000

• MTF → You pay ₹2.5 lakh cash, Upstox funds ₹7.5 lakh.
• Cashless MTF → You don’t pay any cash. Instead, you pledge holdings worth ₹2.5 lakh as margin, and Upstox provides an additional margin of ₹7.5 lakh. Together, this enables you to take a ₹10 lakh position.

Note: Interest will be charged on the entire order value while using Cashless MTF.