How to Close Upstox Account

If, for some reason, you aren't happy with Upstox by RKSV Securities India Pvt and want to know how to close your Upstox account, this post will guide you. Upstox account closure is as simple as Upstox account opening. In this article, I will explain the Upstox demat account closure step-by-step.

Essential Things to Do to Delete Upstox Account

Before getting to Upstox Demat and Trading Account Closure, you must ensure the following things are done:

  • Clear all pending dues
  • Close all open positions
  • Sell or transfer demat account holdings
  • Redeem mutual fund units

How do you close up your Upstox Account Online for the updated version?

You can close your Upstox Demat account online. Here are the steps you need to follow to close Upstox trading and demat account for Upstox Pro:

  • To begin, you must log into your Upstox Pro account.
  • Next, you can click on Account at the bottom right.
  • After that, click on My Account and click on Profile.
  • Under Profile, you will find the option Account Closure.
  • You must click on Account Closure, which will redirect you to the Closure page.

  • As long as you don't have any pending dues and holdings in your Account, you are good to go with clicking the Close Account button.
  • In the last step, you must complete the OTP verification by entering the OTP you receive in your registered email account and mobile number.
  • Once you enter the OTP, your account closure request will be reviewed, and your Account should be deleted within 7 to 8 working days.
  • After your Upstox demat and trading account is closed, you shall be notified through email.

How do you close up your Upstox account online for the old version?

If you are on the Old Upstox app, you can still close your Upstox account. Here are the steps you need to follow:

  • Log into your Upstox app using your 6-digit PIN or Biometrics.
  • Next, you must click on the Profile icon at the top left corner.
  • After that, you must click on My Account and then click on Account Closure.
  • However, before you do it, you must ensure that you don't have any pending dues or holdings.
  • Next, you can click on Close Account and enter the OTP you received in your registered email account and mobile number.
  • Once you complete the OTP verification, your Upstox account will be closed in 7 to 8 working days.

How to Close Upstox Account Offline?

There is also an offline way of closing an Upstox Account. Here is what you have to do:

  • To start, you must go to the Upstox official website
  • Next, you need to click on the Support tab
  • After that, you must click on Download Forms
  • You must download the Demat Account Closure form from there
  • Next, you must take a printout of the form, fill it out, and sign it.
  • Lastly, you can mail it to the address mentioned in the form.
  • After receiving your Demat Account Closure, a representative will contact you, and your request will be processed.

Conclusion

Upstox is an excellent discount broker for trading and investing in the Indian stock market, allowing you to trade Stocks, Mutual Fund Schemes, Bonds, and ETFs. However, if ever you want to close your Upstox account, it should be easy for you after reading this article. Regarding some good Upstox alternatives, you can try out Zerodha and Angel One.

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