How to open Upstox Account

Are you looking to open an online Demat account with Upstox?

Congratulations! You are landing on the right article; we will walk you through the entire process of how to open a Upstox account. You can open an online Demat account with Upstox, even if you are not computer savvy since opening an account with Upstox is quite simple, easy, fast, and paperless.

The first and foremost thing that you need is your Aadhaar Card linked with any of your active mobile numbers. If it is linked, you are good to go to fill out the Demat account opening form. Once you are done with it, upload the necessary documents, as mentioned hereinbelow:

Aadhaar Card
PAN Card
Income Proof (depend upon the segment you choose)
Your Signature (on a blank paper)
Your photograph.

In case of any query, you are always welcome to email Upstox at their email address: support@upstox.com or alternatively call them at 022 – 613 09 999.

>>OPEN AN UPSTOX ACCOUNT<<

Documents to upload for Demat account

To open a Demat account with Upstox, you need the following documents:

For Identity proof – PAN Card
For address proof – You need to submit any one documents from Driving License, Aadhar Card, Voter ID Card, Passport, Rent Agreement, or Latest utility bill (must be issued in the name of Demat account holder)
Income proof – Not required for Equity and MF, whereas for others, submit anyone documents out of Bank statement for last 6 months, salary slip for 3 months, latest ITR or Form 16.
Your signature on a Blank paper.

Applicants do not need to submit their bank account proof, since Upstox uses IMPS to verify the bank details of an applicant, to make the account opening process simple and convenient for users.

What is In-Person Verification (IPV) and why it is needed?

In case your PAN isn’t KYC compliant, an In-Person Verification (IPV) needs to be done.

The IPV is required by SEBI (Securities and Exchange Board). Applicants need to create a couple of videos of 10 seconds each, one is with their PAN card, and the other video with their address proof document in hand.

Applicants must hold the respective documents in original, in their hand and ensure that the video displays the documents properly. The address proof must match with the Aadhar Card’s address.

Also, an applicant must state that “Document (PAN or Address proof) is original and belongs to him”.

Once the video shoot is complete, applicants need to upload it in any of the following ways:

You can upload it through the Upstox Pro app or on the Upstox website
You can send the videos through WhatsApp to the Upstox team at +91 816 983 8871
Applicants can send these videos via email as well, at their email address support@upstox.com

Note: Please make sure that you mentioned your complete name, email address, and phone number registered with Upstox while sending videos to them.

>>OPEN AN UPSTOX ACCOUNT<<

Do I get to choose the segments for trading?

Yes! Applicants can have an option to choose segments for trading from the following:

Equity, F&O, and Currency
Commodity

How long does it take to open an online Demat account?

After successful submission of the online application, Upstox can take anywhere between 24-48 hours to open your account.

How to open an account without Aadhaar Card?

In case you do not have Aadhar Card, you can still open an account with Upstox. It is going to be a multi-step process to open an offline account.

Follow these simple steps to open an account with Upstox:

Print the account opening form and sign at all places where “X” is marked. Make sure that your signature must match the ID proofs that you submit.

Affix your recent passport size photo on Page number 4 with across signature.
Applicant should enclose a cheque for the specified amount and make it payable to “RKSV Securities India Pvt. Ltd.” The amount will vary depending on the types of accounts and segments you choose to trade on.
In case you wish to open a Commodities trading account with Upstox, make sure that you fill out a separate cheque payable to “RKSV Commodities India Pvt. Ltd.”
Applicants must maintain a sufficient amount of balance in their account to avoid cheques getting dishonored.
Please note that account opening charges are non-refundable, which is mentioned on the first page of the account opening form.

If you wish to connect your primary bank account with your Upstox Demat and Trading account, just enclose a canceled cheque of the same account.

Applicant should send all the above documents via mail or courier to Upstox at their below-mentioned address:

RKSV Securities India Private Limited

Salasar Business Park,

Off 150 Feet Flyover Road,

Bhayandar West,

Thane – 401101, Maharashtra

>>OPEN AN UPSTOX ACCOUNT<<

Brokerage and account opening charges

Upstox is committed to making trading and investing in the stock markets possible for everyone. That’s why they offer low-cost brokerage and account opening charges.

Upstox Brokerage charges are as follows:

Equity delivery trades are FREE.

For intraday trading on BSE, NSE, and MCX, and F&O brokerage is 0.01% or up to Rs. 20 per order traded (whichever is on the lower side).

Account opening charges:

Open an account with Upstox for just Rs. 99.00!

A monthly maintenance charge of Rs.25.00 + GST is applicable only on Demat accounts and will be charged at the end of every month.

An additional of Rs. 100 will be charged to process physical account opening forms that are sent to the Upstox mailing address.

Frequently asked questions – FAQ

Do you have to pay for using the platform?

No, not at all, you can check out the Upstox web & mobile platforms for free and as and when you are ready to place a trade, you can then open an account. There’s no fee involved to use the trading software.

Is the Upstox account opening free?

The opening fee for opening a Upstox account is 49.00 INR. In addition, Upstox charges annual maintenance charges for Demat account for 300.00 INR (i.e. 25.00 INR per month)

What is the brokerage cost for trading?

The brokerage cost for Futures is ₹20 or 0.05% (whichever is lesser) for each order; whereas, for Options, the brokerage cost is flat of ₹20 per order. So, the maximum brokerage cost remains ₹20 per order regardless of the order size.

What is the brokerage cost for investing in Stocks?

As far as brokerage cost for investing in Stocks is concerned, please note there will no charge for investing in stocks for over a day since it is called Equity Delivery trading. However, for investing or buying/selling Stocks on the same day, which is known as Equity Intraday trading, you will be charged a brokerage of ₹20 per order or 0.05% (whichever is on the lower side) for both buying and selling.

Is Upstox a trusted platform?

Certainly yes, Upstox is a reliable brokerage company. The company is get registered with SEBI along with a member with BSE, NSE, MCX, CDSL, and NSDL. So, there is no reason not to trust this platform.

What documents are required for Upstox account opening?

You need the following documents to get register with Upstox

PAN card
Aadhar Card
Passport
Voter ID card
Driving License
Any identity card which is issued by the Central or State Government

Is Demat account free in Upstox?

You may register a Demat account for free when discount brokers like Upstox come up with initiatives like their Free Demat Fest! They also give a set rate of Rs. 20 each trade, regardless of volume.

Is Upstox good for beginners?

Yes, if you’re a newbie, you may register an account with Upstox and begin trading online for as little as Rs. 20 per transaction.

Does Upstox charge monthly?

Only commodities are allowed – and they are completely free. The maintenance price is $25 per month (excluding GST). This is solely applicable to Demat accounts and is levied monthly, as the name implies. Upstox customers must pay a maintenance fee of $150 to keep their Upstox Free Demat account active.

Is Ratan Tata invested in Upstox?

Yes. Mr. Ratan Tata has invested in Upstox, an online bargain stock broker. As of January 2020, he owned 1.33 percent of the corporation.