Upstox Demat Account Opening
Upstox Track Record Of Best Online Stock Broker In India
Upstox Demat Account Opening, Charges and Review
Upstox is the famous discount broker that is famous for its discount brokerage plan. The company carries the best online trading software available in the market. It is also a depository participant with Central Depository Services (India) Limited (CDSL) and National Securities Depository Ltd (NSDL). Upstox offers the Demat Account and the services related to it.
The Upstox 2-in-1 account includes a demat account and a trading account linked together. This offers an easy and seamless transaction of shares between the two accounts.
Depository Services (Demat Account) is an important service offered by Upstox to its customers. Every customer needs a demat account to trade/invest in the stock market and mutual funds. Demat account allows its customer to hold the shares of the company in an electronic format.
Upstox Demat Account
Upstox offers the Demat Account service to its customers. It offers a secure, safe, and hassle-free investment in Shares, Mutual Funds, IPOs, Bonds, NCDs etc. A demat account is similar to a bank account where a customer holds shares, mutual funds, bonds, etc. in electronic format.
CDSL And NSDL are the two designated Depositories in India. The Upstox is the depository participant (DP) of CDSL and NSDL. This means that when a customer opens the demat account with Upstox, he actually opens the demat account with CDSL or NSDL.
CDSL and NSDL hold all the securities in the demat account. Depository Participant takes fee from the customers for servicing the demat account. CDSL charges fees on each demat account transaction.
Documents Required to open an Upstox Demat Account
The documents that are required to open a demat account with Upstox are:
1. Identity Proof (i.e. PAN, Aadhaar, Driving License, Passport, Voter ID etc.)
2. Identity Proof (i.e. Aadhaar, Driving License, Passport, Voter ID, Bank Account Statement etc.)
3. Bank Proof (i.e. canceled cheque with the name)
Features of Upstox Demat Account
• The Upstox provides corporate benefits like dividends, bonus, interest etc. directly deposited in your demat account.
• It provides the facility of transferring shares from existing demat accounts to Upstox.
• It provides Auto update of bonus issues, right shares, or stock split.
• It has the facility to hold mutual funds in the same demat account.
• It has fast online customer support.
• The customers can invest online in Equity, Mutual Funds, Corporate FDs, and Insurance etc. under the same demat account.
Account opening charges For Upstox Demat Account
In order to open a new demat account with Upstox, the customer will have to pay demat account opening charges. The broker also charges Annual Maintenance Charges (AMC), a yearly fee to maintain the demat account.
Demat Account Opening Fee
Demat Account Annual Charges (AMC)
Why should you open a demat account with Upstox?
1. It has over 1 lakh customers and has a 15k+ Cr daily turnover.
2. Upstox has a paperless instant account opening facility that works online.
3. It has been offering brokerage services since for 10+ years and has received very few complaints.
4. It has a free equity delivery trade with no brokerage.
5. The customer can manage their account online.
6. It has higher margin and an advance order types available.
7. The both CDSL and NSDL demat accounts are available here.
8. The basic Service Demat Account (BSDA) is available to hold up a value up to Rs.50,000.
9. It is the safest and the most reliable way to keep your holding.
Frequently Asked Questions
A stop-loss order is an order placed with a broker in order to buy or sell a specific stock once the stock reaches a certain price. A stop-loss is designed in order to limit an investor's loss on a security position.
While carrying Intraday orders, we trade using margins and thus the trade goes in loss showing the negative balance. It will show the negative balance till the time we square off our trade or their RMS team do so. Your AMC might be deducted and this is the reason why it shows negative balance.
Rs.20 brokerage and 15x intraday margin are the most suited for a new trader. Whereas, the Priority plan is best for the experienced traders who require higher (20x) leverage. The brokerage charges (Rs. 30 per trade) are also higher under the Priority Plan.
The Upstox has pioneered the low-cost brokerage model. Thus while trading with Upstox, equity delivery trades are free of cost. For intraday trading on BSE, NSE and MCX and F&O. It is 0.05% or up to Rs. 20 per order traded.
The Upstox provides three trading platforms. There is Upstox Pro web that you can access from your favorite browser. The other software Upstox Mobile which is available on both Android and iOS will help you in trading on the go.
Upstox runs a partner program wherein you can become a sub-broker and start referring customers from your network. You can earn commissions when they trade. You can receive earnings in two ways in this program either earn a part of the brokerage paid by your referrals or earn incentives for referrals when they open an Upstox account.
The Account opening is free. But if you pay Rs.149, you will get a brokerage credit worth Rs.250 with the validity of 30 days.
You can withdraw money from your Upstox account directly from the application. You go to the balance section of the app and choose to “withdraw funds” from your securities or commodities account. Once after selecting the account, click on the “withdraw” screen. Now enter the amount you want to withdraw and click on “submit”.
Upstox is an online broker and a POA is compulsory during the account opening. This is done in order to keep your information safe and secure.
There is no limit of how many banks accounts you can link with Upstox. One bank account will be marked as the primary account and rest of them will be marked as the secondary bank accounts.
The monthly maintenance charge for the demat account is Rs.25 (excluding GST). This amount will be charged at the end of every month.
The trading with Upstox is completely safe. The company started offering its services in 2012 and since then it has grown exponentially. It has lakhs of trusted customers and over 5 lakh customers traded in January 2020. This made it rank as the second largest discount stock broker in India. The company is registered with the SEBI, BSE, NSE, MCX, CDSL and NSDL. It is regularly audited by the exchanges and no violations have been noticed so far. The company is backed with the leading investors like Ratan Tata, Tiger Global and GVK Davix.
The client can freeze his account in case he does not wish to do any transaction in the near future. This helps in curbing the unauthorized use of demat account & prevention of frauds. The account will be de-freeze only on the instructions of the account holder.
To reactivate your Upstox account, all you need to do is to fill the reactivation form and email it to us at email@example.com. You also need to send a bank statement of the last three months that have been self-attested. Once after we receive this, your account will be reactivated within 24–48 business hours.
Upstox core services does not include providing trading or stock tips. As an online broker, Upstox believes in keeping costs as low as possible.
There is no minimum balance that you are obliged to maintain in an Upstox Mutual Fund account once after the first time when you purchase the SIP.
You can upgrade your Upstox account by just sending an email from the registered email Id to firstname.lastname@example.org. Remember to keep the subject line "Request to change brokerage plan." Make sure that you mention your Name and UCC in the email. The request for changing brokerage plans will be processed in 24-48 hours during business days.
One of the major advantages of having trading account with Upstox is their low-cost structure. As a result, they do not provide any RM (Relationship Manager) services, even in Mumbai.
The Trigger price in Upstox is the pre-set price on a buy or sell order in trading. The order here is a special order such as a “stop-loss order”, a “take-profit order”, “bracket order” and a “cover order”.
The withdrawal of money procedure is an online process. Thus, every request is processed within 24 business hours after the trading day has ended. The Upstox staff get notified of your withdrawal request and hence they process all withdrawals once at the end of each day.
Yes, the account opening in Upstox is free with a ₹249 prepaid brokerage plan. Currently the company does not charge any account opening fee for the individual trading accounts.
In order to change your phone number in the Upstox account, you will have to open an online service request. To change phone number in Upstox, follow the below mentioned steps: a) Go to www.upstox.com b) Click on 'Sign in' > 'Dashboard' c) Login to the dashboard (Upstox back office) d) Choose and click on the 'Service Request' box e) Then, click on 'Change your Mobile Number" f) Enter the new phone number and verify the OTP. Once after the request is submitted, it will be processed in 24 to 72 hours.
Upstox is not a listed company. It is a privately owned company run by the promoters of the company including Mr. Ravi Kumar and Mr. Shrinivas Viswanath. Four major investors that include Mr. Ratan Tata, Tiger Global Management, GVK Davix and Kalaari Capital Partners invested in this company.
The “Validity in Upstox” means the tenure or period for which a placed order is valid. The price of a stock moves up and down on a regular basis and thus the order is executed only when the matching price is available.
If you are deciding to close your account then you can delete it, then you can delete it. Upstox does not charge any fees to close your demat or trading account. Just make sure that all your dues are clear and transfer all existing securities from your Upstox demat account.