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Upstox Open Account | Account Opening Process Review


Upstox is an online brand of RKSV Securities Private Limited. Incorporated in 2009, RKSV Securities is a Mumbai based online stock brokerage company. Upstox is backed by notable investors like Ratan Tata, Kalaari Capital, and GVK Davix.

Upstox offers trading services in Equity, Currency, and Derivatives across NSE and BSE. It also offers Mutual Funds services to its customers. Upstox has a daily turnover of ₹15,000 crores and over 1 lakh traders use its online platform and broking services.

Key Facts about Upstox

  • Offering a range of financial services for around 10 years. In business since 2009.
  • Have over 1 lakh customers.
  • Offer in-house build advanced trading software Upstox.
  • Equity delivery trades are offered at free of brokerage charges.
  • Offer ₹20/order low-cost brokerage plan for Intraday, F&O, and Currencies & Commodities.
  • Backed by prominent investors.
  • Higher leverage plans are available for additional ₹10 brokerage.
  • Member of SEBI, BSE, NSE, MCX, and CDSL.

Product Offered by Upstox

  • Online Trading
    • Equity Trading at BSE, NSE
    • Commodities Trading at MCX and NCDEX
    • Currency Trading at NSE
  • Depository Services (Demat Account)
  • Mutual Funds

Upstox Trading Plans

Upstox offer two trading plans to the customers. The comparison of these plans is provided as below:

Upstox Trading Plans
Brokerage

Upstox Basic Plan

Upstox Priority Plan

Equity Delivery

Free

Free

Equity F&O, Commodity and Currency

₹20 per trade or 0.01% (whichever is lower)

₹30 per trade or 0.05% (whichever is lower)

Margin – Intraday Cash

15x

20x

Margin – CO/OCO Orders Cash

20x

25x

Upstox Account Opening

To trade in equities, currency or any other asset class on NSE and BSE, you would need a trading account, a demat account and a bank account linked with it. With Upstox, you can open a trading account and a demat account at one. Link it with your existing bank account and you are good to trade!

After opening an account with Upstox, you can use their platforms like Upstox Pro Web and/or Upstox Pro Mobile to access NSE and BSE markets and trade in equities, derivatives, and currencies etc. You would also be able to invest in mutual funds online.

Upstox Online Open Account (Instant & Paperless Account)

Upstox offers paperless (or online) account opening. The process is very simple and quick.

Prerequisites for account opening

  1. To open a paperless account with Upstox, you need the following information or scan documents:
    • Aadhar Number
    • PAN Number
    • Canceled Cheque (Scanned)
    • Bank Statement (Scanned)
    • Signature Copy (Sign on an empty paper and scan)
  2. Make sure that your Aadhar Number is linked with your correct mobile number. The process of online account opening requires you Aadhar number validated using OTP.

Steps to Opening Paperless Upstox Account (Using Aadhar)

  1. Visit Upstox.com and go to account opening page.
  2. Create an account by entering your email ID, creating a password and mobile number.
  3. Enter your PAN card, Aadhar Card and verify with OTP sent on your mobile.
  4. Pay the required fees for opening the account through the integrated payment gateway. The fees are based on the type of instruments like Equities, Derivatives, and Commodities etc., you want to trade.
  5. Upload the documents mentioned above and choose the pricing plan.
  6. Review and confirm the application.
  7. Submit the application.
  8. In a few minutes, you will receive an email with 2 attachments- a Demat form and a PoA (Power of Attorney) form.
  9. You will receive the User ID and password required to sign in to your Upstox account with 24 hours of the activation of the account.

Steps to Opening Upstox Account (Without Aadhar)

In case you don't have an Aadhar Card then also you can open an Upstox trading account. Here's how to open a non-paperless account with Upstox:

  1. Download and print the account opening form.
  2. Sign at all of the places marked X. Your signature should be same as in the ID proofs you will submit with the form.
  3. Affix a recent passport size photo in the specified place in the form and sign across it.
  4. The first page of the form provides information on fees to be paid for account opening.
  5. Write a cheque for the required fee.
  6. Attach all the required documents to the form and courier it to the company address provided in the website. A company representative will contact you to take the process forward.

Upstox Account Opening Status

Upstox's paperless account opening process is instant and you will immediately know the status of your account opening.

If you have submitted signed paper forms you can call or send an email to their customer support team to know the Upstox account opening status. The email and call center numbers are available on the Upstox website.

Upstox Account Opening Form (PDF)

Upstox account opening PDF forms are available on the upstox website. You can download the form, print it, fill in all the details, paste a recent passport size photo, attach all the required document with a cheque for fees and send it to its office address.

Upstox Account Closure Procedure

If you are not using the Upstox account then it is advisable to close it to avoid paying any fees charged by the company for maintaining the account. You can close the account anytime you wish to through a simple process. Here are the steps to close an Upstox account-

  1. Download the account closing form, available on its website and print it.
  2. Fill in the form.
  3. Attached unused Demat Slips (if any).
  4. Sign and send it to the company address.

Your account will not be closed till all your dues are cleared.

It is also important to follow-up with Upstox to make sure the account is closed. You can call or send an email to their support team to know the status of your account closure application. Do not assume that once you sent the application, the account is now closed.

Upstox Account Opening Charges

Customer pays account opening fee for trading account opening with Upstox. The account opening fees are as below:

  • Upstox Account Opening Charges (Trading Acct): ₹150 (Eq and F&O), ₹150 (MCX)
  • Upstox AMC Charges (Trading Acct): ₹0
  • Upstox Account Opening Charges (Demat Acct): ₹0
  • Upstox AMC Charges (Demat Acct): ₹150 (paid upfront)

FAQ's

  1. What are the ways through which I can open an account with Upstox?

    Upstox provides both online and offline ways of opening an account. To open an online account you need a PAN card and an Aadhar card with your existing mobile number registered to it.

    The online account opening is instant and paperless. It is the preferred way to open the account.

    Discuss this question

  2. What types of trading accounts does Upstox offer?

    Upstox offers one simple 2-in-1 account. This account includes a trading and a demat account.

    Note:

    • You have to choose the segments (i.e. Equity, Equity F&O, Commodity, and Currency) you would like to trade in while opening the account.
    • You have to choose one of the two trading plans; Basic and Priority. The Priority Plan provides higher leverage in comparison to Basic plan. The Priority plan also comes at higher brokerage charges. Brokerage charged in the basic plan is ₹20 per trade and priority plan is ₹30 per trade.

    Discuss this question

  3. Why a signed copy required in Upstox online account opening process?

    A signed copy is required to take your signature in the online account opening form. You can sign on a plain paper and shoot a photo of it with your mobile phone and upload it as your signed copy.

    Discuss this question

  4. My Upstox trading account has become dormant due to non-trading. How to reactivate my existing Upstox account?

    Your trading account becomes dormant in case you do not trade for 6 months. You can reactivate the Upstox trading account by following these 2 steps-

    • Write an application to reactivate your existing account. Provide details like your customer ID, account number etc., in the request.
    • Attach self-attested latest bank statement for the last 6 months
    • Send the application and documents to the upstox office address.

    Your trading account will be activated within 24-48 hours of receiving the documents.

    Discuss this question

Information about Upstox account opening, Upstox open account, Upstox opening charges, Upstox account opening charges, Upstox account opening status, Upstox amc charges, Upstox account charges and Upstox account closure.

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