- There are two ways to start with your account: the online account opening method and the traditional method of submitting physical forms.
- Choosing a broker who fits your trading style and understands your financial goals is more important than the method you use to open your account.
- Sometimes brokers charge more for submitting physical forms, therefore, ensure that you check all the account opening costs associated with the opening procedure.
Upstox Demat Account Opening Process Step by Step.
Click on ‘Open Your Account’ to visit Upstox and start your account opening process.Enter in your Email address and mobile number in the box on the right side of the webpage. Click on send OTP to proceed.
Enter the OTP received on your mobile number. Click Sign Up to continue.
Now enter your PAN details and Date of Birth. Click Next to continue.
Now enter additional details about you which includes your gender, marital status, annual income, trading experience, occupation, politically exposed, and country of residence.
Scroll down on the same page and check the declaration boxes of Taxpayer declaration. Click Next to continue.
Now set your trading preferences. You have to select between F&O and commodity. Different plans offer different leverages, select the type of plan you wish to trade in. Click next to continue.
Congratulations, you are eligible to win a free surprise stock. Click Yes to continue.
Now enter your bank account details to link Demat account with by entering in the details. Click next to continue.
Upload your documents which includes your signature and Income proof. Make sure the sign is visible. Income proof is optional and is only required if you are trading in Future & Options and Currencies. Click Next after uploading documents.
Next comes the Aadhaar verification. Click on ‘Connect to Digilocker with Upstox’ to share a digital copy of your Aadhaar card. Digilocker is an initiative by the Government of India to save your essential documents on the cloud. It is linked with your Aadhaar card and thus provides complete security.
Now, enter your aadhaar number to proceed further connect. Click Next to continue.
Enter the OTP received on your registered mobile number. Click continue to proceed to the next step.
Allow upstox to access your Digilocker by clicking on the allow button.
Now upload your picture with a clear background and also share your location. Click next to continue.
Click Free Demat and Trading account and select continue to proceed further.
Click yes if you have your aadhaar card linked with mobile number. Click continue to proceed further.
Congratulations, your freeways are on their way. Click continue to proceed with the next step.
Select e-sign with Aadhaar OTP and click next to continue. Your aadhaar needs to be linked with a mobile number in order to continue.
Click E-SIGN now to continue further.
Enter your Aadhaar card details. Select NSDL 2.1 and click done to continue.
Now to e-sign with the depository, enter your aadhaar number and click verify OTP to continue.
Congratulations, your account has been created. You can download your e-signed documents by clicking the link.
It takes 1-2 days to open your account. You can also check the status of your application. You will also get the login credentials to your trading account in the welcome mail
– A scanned copy of your PAN card
– A scanned copy of Aadhar Card
– Cancelled Cheque/Bank statement to link your bank account
– A scanned copy of your signatures – Income Proof (Only required if you wish to trade in Futures & Options, Currency or Commodities)
Additional terms and conditions
– You must have an active mobile number linked with your Aadhaar card. This is to complete the eSign-in/DigiLocker process which requires OTP verification. If your mobile number is not linked with your Aadhar card, then visit the nearest Aadhaar Seva Kendra to get it linked.
– Make sure that the bank statement you are uploading has an Account number, IFSC and MICR code printed on it. If these are not clearly visible, then your application may be rejected.
– The cheque must have your name clearly inscribed on it.
– Signature should be done with a pen on a blank paper and should be clearly visible. Use of pencils, sketch pens or markers will get your application rejected.
– You can submit any of the following documents as an income proof:
Latest 6-month Bank statement
Latest salary slip
Networth certificate from a CA
Income Tax Return Acknowledgment
Demat account charges
There are multiple sorts of account charges you’re likely to come across – both during the time when you hunt for your preferred broker and when you’ve completed your registration process. Primarily, these charges can be classified into 3 types:
- Account Opening Fees
- Annual Maintenance Fee
- Transaction Fees
Account Opening Fees is the fees your broker will collect for the whole process of registering your demat account. Not all brokers charge this fee, so you’re likely to come across a few where you would not be paying any such fees. Some online brokers might charge a nominal account opening fee to trade on different segments.
Annual Maintenance Fee is usually a prepaid amount that your broker collects to keep your account active throughout the year. While these charges are usually nominal (Rs 300 – 800 for the year), many brokers in the industry have now begun to charge zero fees here as well. The race to provide traders with the best rates and services has led to some intense competition in the brokerage industry landscape.
Transaction Fees refer to the charges your broker will levy for moving (debiting and crediting) your stocks or other securities to and from your dematerialized account. This can vary wildly across brokers depending on their target audience.
We charge minimal demat account opening fees (Rs 150 + tax). An Annual Maintenance Fee of the same amount also applies to the account.
Upstox continues to keep costs low with the Transaction Fees as well – charging Rs 13+5.5+tax (Rs 5.5 being CDSL’s depository charges) – significantly lower than large traditional broking firms.
While discount brokerages charge low account opening fees and brokerage, that’s not to say they cut down on services. For example, it is entirely possible to open an account using the traditional paper method on Upstox as well. Head over to the forms section and download the demat account opening form. You can choose the segments you want to trade on while opening your account. Fill out the forms, attach the required documents, and send them over via courier to this address:
30th Floor, Sunshine Tower,
Senapati Bapat Marg, Dadar (W),
Mumbai- 400 013
If you see the merits of a convenient and online Aadhaar-based registration, you’re welcome to get started with the online demat account opening.