Why we made the change from RKSV to Upstox
In January of 2012, we set out on a mission: how could we simplify the trading and investing experience in India so that investor participation in the capital markets increased?
We realized that there were three important factors traders truly cared about: pricing, customer support, and powerful trading software that was easy to use.
Over the past four and a half years, we focused on the first two factors. Free equity delivery trading and a flat Rs. 20 order pricing model took care of the pricing component. With customer service, we continuously track two simple metrics so that customer’s concerns are promptly addressed. Calls must get answered within 30 seconds, and 10+ languages had to be supported.
The third factor – trading software- was the difficult one to address. Many questioned our decision to not continue with our existing trading platform; after all, virtually all other brokers in India use it (it’s a white-panelled product, meaning brokers are all essentially using the same trading technology on the backend).
Why reinvent the wheel, many asked?
At the end of the day, we knew that if we wanted to truly increase investor participation, the trading experience had to be enjoyable. It had to be mobile-first, ensuring that anybody with a smartphone could place trades through a simple user interface. Users also had to be able to trade on the web, right on their favorite browser, instead of having to download a clunky .exe file. We knew that, if done right, we could provide our users the best trading experience in India right on their smartphones and browsers.
At the same time, we also knew that it was time to begin thinking about rebranding the company. We would now become what we’ve always wanted to become: a product-first company. While other brokers focus on low pricing and keep the user experience as an afterthought, we would do the the opposite: generate a great trading experience by emphasising product and design while ensuring that pricing was kept low.
We wanted to create a lasting brand that reflected what we passionately believed in: that any citizen of India, with the right investing and trading tools at their disposal, could build wealth by trading through the stock markets.
With all this in mind, we are proud to announce that we have re-branded RKSV to Upstox. Upstox perfectly embodies everything we stand for. A powerful and easy to use trading app that will empower traders for years to come. At the same time, one of our primary goals has always been to make it easier for investors to build wealth through the stock markets. By buying and holding stocks for the long term, where the markets generally go up over time, investors can take control of their finances.
We hope you enjoy trading through Upstox as much as we have enjoyed creating the app. We welcome you to the Upstox family.