Step-by-Step Process to Open Your Demat Account with Upstox: RKSV Securities or Upstox offers Digital Demat account opening i.e. Paperless and hassle-free account opening process. The onboarding process on Upstox for opening a demat account is a lot easier and faster when compared to the account opening process of other leading stock brokers in India.
In this article, we’ll look into the exact steps to open your demat account with Upstox. And if you follow the steps correctly, you can complete the account opening application within 20 minutes. Keep Reading!
Quick Link to Open Your Demat Account with Upstox!
Introduction to Upstox
Before we discuss the account opening process at Upstox, let us quickly give you a brief introduction to Upstox. Upstox, aka RKSV Securities, is the second biggest stockbroker in India with over 40 lakhs registered clients on its platform. It provides stockbroking services with facilities to invest or trade in Stocks, Futures, Options, Commodities, and currency. They also offer add-on facilities of FREE investing in IPOs, Digital Gold, and Mutual fund.
Upstox is supported by big investors namely Ratan Tata & Tiger Global Management, GVK Davix, and Kalaari Capital. Here are a few key features of Upstox:
- Stock Investing Charges: Rs 0 (Investing in Stocks (Equity Delivery Orders) are brokerage-free)
- Intraday and F&O trades: Rs 20 (0.05% or up to ₹20 for all Intraday & F&O, Currencies & Commodity Orders)
- Digital Gold & Mutual Funds: Rs 0 (Digital Gold and Direct Mutual Fund investments are brokerage free)
Account Opening Charges and Brokerage
The Account Opening Charges for Upstox is Rs 299. (Current Rs 99 only as waived account opening charges)
Here is the Quick Link to Open Your Demat Account with Upstox!
- Stock Investing: Rs 0 (Investing in Stocks (Equity Delivery Orders) are brokerage-free)
- Intraday and F&O trades: Rs 20 (0.05% or up to ₹20 for all Intraday & F&O, Currencies & Commodity Orders)
- Digital Gold & Mutual Funds: Rs 0 (Digital Gold and Direct Mutual Fund investments are brokerage free)
Upstox offers Zero brokerage on Equity Delivery trades. This means that you don’t have to pay any brokerage on Upstox while making long-term investments. For Intraday, Futures and options, and all other trades, Upstox charges a brokerage of Rs 20 per trade.
Here are the detailed brokerage charges of Upstox:
- Equity Delivery: Zero Brokerage
- Equity Intraday: ₹20 per executed order or 0.05% (whichever is lower)
- Equity Options: Flat ₹20 per executed order.
- Equity Futures: ₹20 per executed order or 0.05% (whichever is lower)
- Currency Futures: ₹20 per executed order or 0.05% (whichever is lower).
- Currency Options: Flat ₹20 per executed order.
- Commodity Futures: ₹20 per executed order or 0.05% (whichever is lower)
- Commodity Options: Flat ₹20 per executed order.
Quick Note: Upstox Charges a Maintenance charge of ₹25 + 18% GST to maintain your Demat account with them every month, in addition to brokerage charges. This rate is similar to what other discount charges as the Annual Maintenance Charge (AMC).
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Documents Required to Open Upstox Demat Account
Before looking into the steps to open your demat account with Upstox, here are the documents required to open a demat and trading account at Upstox. We will recommend keeping soft copies of all these documents ready before you apply for opening the accounts as you’ve to upload them during the account opening process:
- PAN CARD
- Aadhar Card
- Bank Account Details and Proof
- Your Signature
- *Income proof(Optional): Proof of Income is required if you wish to trade in F&O or commodity.
In addition, you’ll require to have a webcam on your phone/laptop so that you can complete the IPV (In-person verification) process where you’ll need to capture an image of yourself (or the customer who wishes to open a demat account) and upload to the platform.
Short Answer to Open Upstox Demat Account
To get started, here is the direct link to the account opening page at Upstox.
On this page, the first step is to signup using your mobile number plus email id and verifying the OTP. Then, you’ll be required to enter your PAN, bank account, Aadhar verification, and personal details to continue with the signup.
Once document submission is done, you’ll receive your Login credentials (Upstox Username and password) via email after your account is activated. It typically takes under 24–48 hours after submitting documents to get the login details.
All the instructions are clearly mentioned in the each-step of the account opening page. If you are good at reading and following instructions efficiently, then you do not need to read this entire post. Just go to the account opening page, follow the instructions, upload the documents and your account will be opened.
Step by Step Account Opening Process to Upstox Demat Account
Here are the steps to open your demat account with Upstox:
Step 1: Go to Upstox Account Opening Page
Step 2: Verify Your Mobile With OTP and Start Application
Step 3: Fill Your PAN and DOB Details
Step 4: Provide your personal details like Father’s Name, Occupation, Marital Status, Income, etc.
Step 5: Enter your digital Signature
Step 6: Complete your IPV process by uploading your photo using a Webcam
Step 7: Enter Your Bank Details
Step 8: Verify your email id with OTP
Step 9: Make the Account opening charges payment
Step 10: Segment Selection (Select Equities, Futures & Options, Commodities, Currency or the preferred segments that you want to activate your account to trade)
Step 11: Digitally eSign using Aadhar based OTP on NSDL eSign Portal
Step 12: Your Application is Submitted!
Steps if Your Aadhar is Not Linked with Your Phone Number
If your phone number is not linked with your Aadhar card, still you can open your demat account with Upstox. However, in this case, you’ll be required to design using ‘eMudra’. Here, you’ll be redirected to the eMudra website where you have to upload a video with your PAN Card and Aadhar Card as verification. Anyways, this step takes a little longer time compared to OTP Verification with Aadhar.
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Closing Thoughts
In this article, we looked into the exact steps to Open Your Demat Account with Upstox. Upstox offers fast and paper onboarding to open demat and trading accounts. It all the documents available, the account opening process can be complete with 20 minutes and you’ll receive your login credentials with a day.
That’s all for this post on Upstox Account Opening process. Do comment below if you any doubt in any of the above steps to open Upstox account. Have a great day. And Happy Investing!
