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.
How to open Upstox Account
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: email@example.com or alternatively call them at 022 – 613 09 999.
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 firstname.lastname@example.org
Note: Please make sure that you mentioned your complete name, email address, and phone number registered with Upstox while sending videos to them.
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
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,
Thane – 401101, Maharashtra
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?
Is the Upstox account opening free?
What is the brokerage cost for trading?
What is the brokerage cost for investing in Stocks?
Is Upstox a trusted platform?
What documents are required for Upstox account opening?
You need the following documents to get register with Upstox
- PAN card
- Aadhar Card
- 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.