Upstox Demat Account Charges, Review, Opening

Upstox Demat Account Opening Charges

To open a new demat account with Upstox, the customer may have to pay demat account opening charges. The broker may also charge Annual Maintenance Charges (AMC), a yearly fee to maintain the demat account.

1. 1. Is Upstox a demat account?

   Upstox offers both trading and a demat account. The upstox trading account gives you access to stock exchanges or permits you to buy & sell securities. The upstox demat account is used to hold securities in electronic format for online trading. Both demat and trading accounts are required for trading/investing in India Stock Market.

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2. 2. How to get Upstox DP id?

   Your Demat Account Number is a 16-digit number consisting of 8 digits DP ID and 8 digits Client ID. The first 8 digits of your demat number is the DP ID, also known as Depository Participant ID. You get a DP ID when you open a demat account with Upstox.

   Steps to check DP ID

   1. Visit com website
   2. In the top navigation bar, click Sign in > Dashboard
   3. Login to Upstox back office (Keystone)
   4. In the top right, click on 'Down Arrow' next to your name
   5. Click 'My Profile' link
   6. Check the section 'Linked Demat Accounts' for DP ID

   Example Demat Information

   • Name: IL & FS
   • Type: NSDL
   • DP ID: IN300095
   • Account Number: 11003206

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3. 3. Upstox is CDSL or NSDL?

   Upstox is a Depository Participant (DP) of central depositories CDSL with DP ID as 81800. Check RKSV CDSL Membership detail.

   CDSL (Central Depository Services Limited) and NSDL (National Depository Services Limited) are 2 central depositories in India that holds your demat account.

   Stock Brokers like Upstox only play the role of intermediary between the customers and the central depository.

   Note: Before taking the membership of CDSL, Upstox had a partnership with IL&FS. IL&FS has NSDL membership. While most Upstox clients are moved to Upstox DP, some may still be using the IL&FS NSDL account.

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4. 4. How to create Upstox account?

   You can create a Upstox account online as well as offline. A complete online account opening (paperless and instant) is available to customer who has their Aadhar linked to their current mobile number for OTP confirmation.

   Upstox offers its customers a 2-in-1 account wherein the trading and demat account are opened together. Here are two easy ways to create an account:

   • Request a callback from Upstox sales team for the account opening.
   • To open the account online instantly, visit the Upstox.com.

   You could also download the account opening form from the company website, fill it, sign it, attach a photo and required documents and send it to the company's head office.

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5. 5. How to close Upstox demat account?

   You could close the Upstox demat account by submitting an account closure request. A signed paper form has to be sent to upstox for account closure. The account closure service is not available online.

   Steps to close Upstox Account

   • Visit com
   • In the top menu, go to Support >> Download Forms
   • Go to 'Account Modification Forms' section
   • Download the 'Demat Account Closure' form
   • Print, fill and sign it.
   • Send it to the address mentioned in the form.

   Please clear all your dues, close all open positions and move all securities held in the demat before initiating the closure process.

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6. 6. How to apply IPO through Upstox?

   Upstox offers an online IPO application. Upstox customers can apply in any IPO at BSE and NSE using their UPI ID.

   Steps to apply IPO through Upstox

   • Login to Upstox Pro Web or Upstox mobile app
   • Click on your customer name and customer ID on top right
   • Click on Apply for IPO link
   • Select the IPO you wish to apply by clicking the 'Details' button
   • Go to the bottom on IPO Detail page and click 'Place Bid' button
   • Enter UPI ID and choose Investor Type
   • Enter order quantity and price
   • Choose Cutoff-price checkbox if applying in the retail category
   • Review and place order
   • Approve the notification received on the BHIM app in 2 to 12 hours.

   Steps to apply IPO through Net Banking

   • Login to net banking of your bank.
   • Go to the Online IPO Application page.
   • Choose the IPO to Apply
   • Enter the upstox demat account information
   • Enter other information like the number of shares, price etc.
   • Submit the application.

   For detail bank-wise instructions, visit ICICI, HDFC, SBI, Kotak, Axis Bank

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7. 7. How to buy shares in Upstox?

   You can use Upstox Pro trading software (website or mobile app) to buy shares online.

   Steps to buy shares in Upstox

   1. Log in to the upstox pro website or mobile app
   2. Transfer funds from your bank to trading account
   3. In the watchlist, search for the desired company
   4. Enter order details like quantity, order type, position, validity etc.
   5. Review and confirm the order

   Note:

   1. Shares are credited in demat account after T+2 days where T is the day of trading.
   2. Equity delivery brokerage is free with upstox but you still have to pay the taxes.

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8. 8. Is it compulsory to open a demat account along with a trading account with Upstox?

   Yes. Upstox offers a 2-in-1 account which includes a trading and a demat account.

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9. 9. How to transfer shares from existing demat to Upstox demat?

   Transferring your shares in existing demat account to Upstox demat account is easy. You need to submit a DIS Slip to your existing brokerage company with the details of your holdings and your upstox demat account detail.

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10. 10. I have an Aadhar card but my current mobile number is not registered with it. What should I do?

    Aadhar card with the current mobile number registered to it is mandatory for online account opening. The OTP for verification is sent to the registered mobile number. You have 2 alternatives if your current mobile number is not registered with Aadhar:

    • Update your mobile number with Aadhar and then open an account
    • Download the PDF Account Opening form, print it, fill it, attach documents and send it to Upstox office.

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11. 11. Do I need to send the hard copy of PoA received in the email to open account with Upstox?

    The Power of Attorney letter is a legal requirement that permits your broker to conduct transactions and transfer shares to the exchange from your account.

    Earlier it was mandatory to fill and send the hard copy of the Power of Attorney (PoA) to the Upstox office. However, recently Upstox has replaced the process with electronic delivery instruction slip service (e-DIS). Upstox is the first broker to start e-DIS which allows you to sell stocks from your demat account in real time.

    Now whenever you place a SELL order on the Upstox platform, you'll be taken to a dialogue box that seeks your permission using the e-DIS facility. You need to verify your transaction by entering the OTP sent on your registered mobile and email.

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12. 12. Do I have to link my bank account to my Upstox Demat and Trading account?

    Yes, you have to link your primary bank account with your demat and trading account. The dividend paid on the shares you hold are directly deposited into your bank account.

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13. 13. What is BO ID in Upstox?

    The BOID in upstox is the customer's demat account number. It is a 16 digit number starting which is the combination of upstox DP ID and customers demat account number. You can find your BO ID in your demat account statements or by visiting the profile section of upstox's website.

    The DP ID is a 16-digit number. The first 8 digits represent Upstox DP ID with CDSL. The last 8-digits comprise the Client ID. You'll get your DP ID when your account is opened with Upstox.

    Sample Upstox BO ID: 1208180000123456

    Steps to get BO ID in Upstox

    1. Visit Upstox website
    2. Click on 'Sign in' > 'Dashboard'
    3. Login to the dashboard.
    4. Click on your name in the top right.
    5. Click on the 'My Profile' button.
    6. Check the 'Linked Demat Accounts' section.

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