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Upstox is a brand name of the company RKSV Securities India Pvt. Ltd.
Upstox is an India-based leading discounted brokerage company which is headquartered in Mumbai, India.
Upstox holds memberships with the following exchanges.
That means trader can trade with these following segments using Upstox.
The company allows retail investors and institutional corporations in India to invest in stocks, futures, options, currencies and commodities.
The company has very low brokerage rates (Fees) compared to traditional full-service brokers.
Investor’s can place their orders using an electronic trading platform or by phone using Call-and-trade facility.
Transactions related to the commodity exchanges are handled by a sister company RKSV Commodities India Pvt. Ltd. which is fully owned by RKSV Securities India Pvt. Ltd. Collectively, it is referred to as just RKSV and now ‘Upstox’.
Upstox Account Opening Process
In this article you will know about the process of opening Upstox account opening.
Many of us don’t know about what is Demat and Trading account.
They don’t know where to use which account. So in this article you are going to know all those information.
All about Demat and Trading Account?
Let us know first about Demat account now.
What is Demat Account?
Demat account is the account in which we actually hold the shares.
In the simplest terms, dematerialized account or demat account allows the investors to hold and manage their shares and securities electronically. With the passing of the Depositories Act, 1996. The transactions around the handling of securities have become too quicker and hassle-free.
Owing to this mandate passed by SEBI in the year 1996, it is now compulsory to have a demat account in case you would want to invest your money in the stock market. Therefore, if you want to trade on a stock exchange say BSE or NSE, you need to have a demat account.
De-materialisation is a whole new wave of how the stock market operates in the present day.
What is Stock Market Trading Account?
A demat account is more like a medium to store/hold the securities that you already have in your portfolio.
Demat account is like your locker which holds your securities assets.
But you cannot buy or sell through your demat account, for that, you need a trading account. A trading account is like an intermediary between your bank/ savings account and your demat account.
When you open an account with Upstox then he opens one account with him that is called a trading account.
From which you are going to actually place trades in the market.
Who will open Demat and Trading Account?
Generally Demat account is opened by a DP that is Distributor Participant of Depository companies.
In India, there are two Depository Companies are there. That is, CDSL and NSDL.
Upstox is the broker who will help you to open these both account without any hassles.
Because Upstox is also a DP of CDSL.
Criteria of Account Opening
Well, there is no age requirements for opening a demat account but to trading.
In India, the person less than 18 years is called as Minor.
Minor can open a demat account in the capacity of buying securities not for selling.
Until he reaches his 18 years he can’t sell out those shares.
Required Documents to open these 2 accounts are as follows.
- PAN Card
- Bank Account – Passbook’s First Page copy with IFSC or Cancelled Cheque Photo copy
- Income Proof or Bank Passbook
- Address and Identity Proof – Aadhar Card, Passport, etc.
For more information click on this link
Steps of Opening Upstox Account
Click the button below >> Visit the opening page >> Enter Email and Mobile Number with OTP.
Click sign in button below if you have already registered
2. Enter Important details
Now you will be asked for your details such as,
- PAN Card – Don’t make any mistake here
- Introducer’s ID – Enter 311034 in Introducer’s ID
- Enter fundamental details such as
- Date of Birth
3. Documents, Segments
Now keep your documents handy.
Documents such as,
- Identity Proof : Aadhaar/Driving License/Passport
- PAN Card
Upload those documents whenever asked and fill correct information vigilantly.
There are normally multiple segments are there such as,
- NSE Equity
- BSE Equity
- Derivatives : Futures and Options
- Commodities : MCX
But Upstox simplified it only in two segments such as Equity and Commodity.
I recommend you to select both the segments to stay free in future hassles.
4. Select Plans
There are two types of Plans, one is for High Volume traders and Another is for New traders or investors with low capital
You should choose first option if you are willing to trade by taking high leverage and you have good experience in trading. Because it will cost you little higher than basic plan.
Basic plan is everyone’s favorite as it doesn’t charge more. Traders with less experience or low capital should definitely select this plan.
5. IPV Video
IPV Stands for In-Person-Verification. This is required for completing verification by the account holder.
You have to put camera on towards you and record a video for 10 seconds showing Address and Name ID (i.e. Aadhaar or Passport, etc)
And speak that “This Document belongs to me and it is Original.”
And upload this video in the Video Section
6. KYC verification
Now you will prompt to KYC verification.
Choose E-KYC if your mobile number is linked with Aadhaar Card to make OTP based verification.
Or you can select second option that is courier the form.
You will get the form via courier then you have to sign it manually and after two or three days you have to submit signed form to the upstox representative or to the form pickup personnel.
You are done. Now upstox representative will check whether everything is alright.
And they will email your Client ID and password on your registered E-Mail Address.
If anything is missing or wrong they will contact you and help you to provide their necessary requirements.
You can also contact them by following methods.
E-Mail Address : [email protected]
Contact Numbers :-
Thanks for Reading this article carefully and following steps.