Upstox Account Opening Process

Upstox is a trading platform that offers discount broker facilities. It provides trading services in Currency derivatives, Equity, Commodity, etc. Moreover, trading services are available at MCX, NSE, and BSE. Upstox has two types of trading platforms: one desktop-based and one web-based. Upstox app is free of cost and the broker is safe. In addition to that, it is a registered member of BSE, NSE, MCX, CDSL, and SEBI. As the exchanges audit Upstox regularly it is a safe and secure platform to trade from.

Upstox is one of the top discount brokers in India with high-graded technology at a very low cost. Moreover, some investors that have backed Upstox are GVK Davix, Ratan Tata, and Kalaari Capital. Upstox platform provides facilities for analysis, charting, trading with ample features. You can also trade in Equity Intra-day, F&O, and much more. There are two types of trading accounts under Upstox: Upstox Basic Plan and Upstox Priority Pack.

  • Upstox Basic Plan: Free equity delivery, Trade for cost as low as Rs.20 for Equity F&O, Commodity, and Currency. All the basic trading features are present in the mobile app and website platform. There is 20 times leverage offered by Upstox basic plan on the Cash segment.
  • Upstox Priority Pack: Upstox Priority plan provides free delivery brokerage and Rs.30 for Equity F&O, Currency, and commodity per trade. There is up to 25 times leverage offered on the Cash segment by the Upstox Priority plan.

Upstox Account Opening Process

Trading Account helps for easy trading and execution of a trade by the traders in order to participate in the stock market. The trading account can be opened with the Upstox and you can do that online while sitting at your home.
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Trading Account Opening process

First, you need to know if you have excess cash that you can use for investing rather than taking money on a loan. Moreover, you should not invest all of it no matter how tempting it will be, save for your needs and expenses. You should decide what is type of investment you will be going for like intra-day or long-term investment. Additionally, there is zero brokerage charged on delivery trades and Rs.20 on intraday.

Here are the tips that you need to follow for opening a trading account with Upstox in two different methods:

  • Aadhar-based e-KYC method

The new and high-tech Aadhar based registration requires no paperwork and is easy. In this method, you will provide your Aadhar card details for completion of the entire process of registration online. Additionally, you need to have an authentic/valid number that is linked to your Aadhar card. You will also require scanned copies of documents like Aadhar Card, PAN card, and a cancelled cheque on the device. As you will require to upload all these mentioned personal documents while the registration process will be going on after the Aadhar card is linked.

  • Traditional paper Registration

Here’s what you’ve got to do for Traditional paper registration of Trading Account:

  • Decide which account you want to open (F&O, Currency, Equity, or all). The required documents include both types of forms that are KYC forms and Account opening Forms.
  • Print the forms and fill them according to the requirements.
  • You will need 2 passport size self-attested photos to paste on the form.
  • Your signature will be required on the few places on the form
  • You need to attach self-attested personal documents like PAN Card, Address proof, and ID proof.
  • You also need to attach a cancelled cheque in order to link your bank account with this account.

Now after you complete these steps you need to send the form to the address mentioned below:

Upstox/RKSV Securities India Private Limited,
Salasar Business Park, Off 150 Feet Flyover Road,
Bhayandar West, Thane -401101, Maharashtra

Demat Account Opening Method

Online Account Opening Method

Here are the steps to open a Demat Account with Upstox in the Online method:

  • You need to first visit the online Demat account opening page
  • Enter the details and sign up
  • Scanned copies of Aadhar, Cancelled cheque, latest bank statement, and PAN will be required in the process so you need to keep that with you.
  • Enter Aadhar details and you will receive an OTP to link your mobile number and verify your identity.

Trading Account Charges

There are three main charges that brokers levy on trading accounts. Those are:

  • Trading Account Opening Fees: This is the amount of fees that you will be charged once you open your account with the brokerage firm. It is a mandatory fee and you need to pay it in order to confirm your account opening.
  • Annual Maintenance Fees: It is a type of fee that is charged and needs to be paid in advance. Annual Maintenance Fees are taken by the brokerage firm in order to keep your account working and it also ensures proper service delivery. Many firms also try to merge this fee to Demat account fees to simplify the process.
  • Transaction Fees: Transaction fees are charged by brokerage fees based on the number of transactions conducted. It will be based on the number of stocks or the value of the stock. The number of stock and transaction fees are directly related. As the number of stocks increases the transaction fees increase. The transaction fee of Upstox is as low as 0.00325% which can help you increase your gains as the more you save the more you gain.

Wrapping Up

You can even go for a demat account and trading account both at once. Moreover, you should explore what are the services provided by the broker and find the one that suits you the most. If you go for an online method for both trading and Demat accounts then you can do the whole procedure sitting at home. But if you are not so well versed with the technology and would rather prefer the traditional method you can do that too by the steps given above. Additionally, know the choices and chose right for your needs.

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