Upstox Demat Account

Upstox earlier known as RKSV is a discount broker that offers innovative investment options and a seamless way to open the Upstox Demat account to its users. Also, the company offers securities brokerage and stock trading services.

Upstox, certified with the market regulator Securities and Exchange Board of India (SEBI) and having exchange memberships with the leading exchanges in India like NSE, BSE, and MCX. It offers safe and convenient ways and an option for meeting all trading needs of its users.

The company offers a way for retail investors to trade in the equity market and provides many other services that allow them to reap the maximum benefits right from the beginning they get connected with the firm.

According to the latest report, the broker gives its customer a provision to open the Upstox 3 in 1 account by collaborating with the Indusind bank. To reap the advantage of Demat,  Upstox trading and banking services at a single place.

The firm makes use of the technology tools that help in making the savvier investment decisions. Their flawless technology services help the traders to trade quickly and conveniently.

The company is working continuously to become the leader in the low-cost brokerage.

In all, Upstox is the best option for those who are thinking of why to have a Demat account and are looking forward to low brokerage, high margins, and decent trading platforms.

You can have a better idea and transparency of charges, by referring to Upstox Brokerage Calculator.

So if you found the Upstox safe, then continue ahead to grab some of the useful information.

Upstox Demat Account Review

Upstox is a member of BSE, NSE, MCX, and MCX-SX that gives traders different trading options like:

• Equity
• Futures
• Options
• Currency
• Commodity

Also, Upstox is working at a faster rate towards upgrading its service and offering a smoother interface to its customers that help them in trading.

Some of the key features that make Upstox a better option to open a demat account are:

1. Allow Various Exchanges

To be on the top of the game, it offers its clients a wide range of exchange options including BSE, NSE, MCX, and MCX-SX.

Thus, it allows traders to trade and try their luck in trading.

2. Regular Trading Seminar

Upstox is a great platform for those who are new to the trading world. Upstox holds regular seminars that help in gaining good ideas and knowledge of the stock market.

3. Trading Platforms

The Upstox provides an easy and efficient way of doing trade to is users.

With its highly advanced and easy to understand web application Upstox Pro, mobile application and trading software it becomes easy to analyze their trading activities and reap maximum benefits with their investment.

4. Minimal Brokerage Charges

The best benefit of availing of the Demat services is the minimal Upstox brokerage.

Here is the summary of the affordable brokerage price of the Upstox trading platform.

For more information, you can check out this Upstox Brokerage Calculator as well.

5. Higher Margin

Apart from the low brokerage, the firm offers a high margin for different trading segments.

The Margin for the Upstox Margin Trading under different segments like Equity Delivery or Intraday Trading is about 20 times while for the other segments like Equity Futures, Equity Options, Currency Futures, etc the margin is around four times.

For more information, you can check this Upstox Margin Calculator.

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Upstox Demat Account Charges

Demat Account is linked with the multiple charges that are classified under three main categories as enlisted below:

• Account Opening Fees: As the name signifies it is the fees that the broker collects from the applicant for getting registration of the Demat account. Not every broker charged the account opening fee. Upstox charge ₹150 as an account opening charges
• Annual Maintenance Fees: These charges are charged by the broker annually for maintaining and keeping the account active throughout the year. Upstox AMC charges equal to ₹150.
• Transaction Fees: It is the fees charged by the broker for moving stocks and securities from one account to another Demat account.
• Upstox DP Charges: These charges are placed on your account when you sell off shares from your Demat account. The charges are levied at the script level only and are INR 18.5 per scrip.

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Upstox Demat Account Opening

Are you looking forward to buying securities like shares, mutual funds, etc then it is very essential to have a Demat Account.

The Demat account not only helps in maintaining securities but also useful to register oneself with the brokerage.

Before opening a Demat account it is essential to have a few key considerations given below:

• There are two different ways for opening the account, the online account opening method and the other is the traditional method of filling and submitting the form physically.
• The other important task is to choose the broker who can fit with your trading style and can understand your financial goals.
• Check the charges for opening a Demat account both online and offline. Generally, the offline method costs more. It is therefore important to check all the information associated with opening the account.

There are two ways for Upstox sign up.

1. Opening a Demat Account Online

Upstox offers a digital and online way to process and open a Demat account. For opening a Demat account with the Upstox follow  the steps given below:

• Visit the Upstox website and head towards the online Demat account opening page.
• Sign up the page by entering all the required information.
• Scan the copies of the essential documents like Address Proof (Electricity Bill, Bank Passbook front page with the applicant details and address), Identity Proof (Aadhar Card, PAN Card), Bank Details (Canceled Check, Bank Statement)
• Enter the Aadhar detail. (Make sure that the Aadhar is linked with the mobile number)
• On entering the Aadhar number you will receive the OTP. Enter the OTP and verify the identity and the information you have entered.
• Post this, sign the Upstox POA documents to give your broker the right to debit your account.

2. Opening Upstox Demat Account Offline

For opening the Demat account offline, follow the steps below:

• Get the account opening form by visiting the Upstox branch or by meeting one of its employees.
• Fill the form by entering all the relevant details and attach a copy of all the documents like proof of identity, address proof, bank details, etc.
• After meeting all the above requirements, you need to sign an agreement with the broker that enlist your responsibilities as a trader/investor and that of the brokerage firm. Sign the document and keep one of its copies with you.
• After verification and authentication of the details and documents, the account number (also called Beneficial Owner Identification Number or BO ID)will be sent to you at your respective address.
• Along with the account number, you will get the additional data like Upstox LogIN Details and the key to access the account online.

Documents Required to Open A Upstox Demat Account

For opening every Demat Account, the applicant needs to submit some documents as proof of their identity, address and bank account details.

Documents Required for ID Proof

• Aadhaar Card
• PAN Card

Documents Required for Address Proof

• Aadhar Card
• Passport
• Voter ID
• Driving License

Documents Required for Bank Proof

• Bank Statement
• Cancelled Check
• Passbook

Upstox Demat Account Opening Charges

Upstox is known for implementing low-cost brokerage and Demat account charges.

Here are the brokerage charges charged by the Upstox, based on the plan you pick:

Know the Upstox Demat Account Opening Charges in the table below.

 

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Upstox Refer and Earn

Upstox not only offers you the benefit to trade at the minimal brokerage but also the advantage of earning through its referral program. So, once you open an account with the broker, you can start making money by referring its services to your friend and family.

Here you will get an advantage of up to ₹1000 in your brokerage thus allowing you to trade for FREE for at least a month.

Other than this there are many more advantages that can help you to make money by opening an account with the broker. To experience it yourself open an account now.

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How to Close Upstox Demat Account?

Upstox Demat Account can be closed easily but there is no provision to close the account online. One can close the account by submitting a physical application.

When to Close Upstox Demat Account?

Demat account AMC Charges or  Annual Maintenance Charges are charged for keeping the account active.  If you have an account in Upstox that you are not using for the last few months then it is good to close it.

Closing the account not only prevents you from paying the annual maintenance charges but also keep it away from any misuse.

Closing Upstox Demat Account

Although, Upstox does not offer the online process to close the account, yet one can close it without any hassle by following the steps below:

• Clear your Demat account by transferring the securities in the other active Demat account or by selling the holdings.
• For Upstox Fund transfer one needs to provide the Upstox DP ID and Client ID.
• In case, of the joint account, make sure that all the account holders signed the application form.
• Fill all the details in the application form.
• Attach the documents like self-attested copy of PAN card, Aadhar card of all the account holders.
• Send this form to the corresponding address of Upstox/RKSV mentioned in the form.

Before filling the request to close the account make sure that you have cleared all the pending dues with the broker.

On receiving the account closure form, it takes around 15 days to verify all the details and process the application. In case of any delay, one can contact the Upstox support team.

Upstox Demat Account Closure Form

One can download the Upstox Demat Account closure form by visiting the official website of the Upstox.

Else, you can take it from here as well.

Save the form and take a printout to fill in the details and send it to the corresponding address.

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Conclusion

Opening a Demat account is essential to ‘hold’ securities and therefore one should be very specific while opening a Demat account with the broker. Dig deeper to know the charges, fees, and services the broker offer and ensure that there are not any hidden charges of opening a Demat Account.

Opening a Demat Account with Upstox gives you access to view your trading history via Keystone Upstox and an open gateway to invest in Upstox Mutual Fund.

Along with this, try to get the things done without delay and therefore keep the documents like PAN Card, Aadhar card and other relevant documents handy.

In case you are looking to get started with your stock market investments, let us assist you in taking the next steps ahead.

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