Upstox is one of the finest online trading platforms, and if you are planning to start with Upstox, you have certainly made a good decision. However, the account opening process may seem cumbersome, and feeling that way is normal.
That's why I thought of making the account opening process quick and easy for you through our step-by-step guide on Upstox account opening. Once you go through this guide, you should be good to go with How to open a Upstox account process.
Read our full review on Upstox
Upstox Account Opening Process: Step-by-step guide
The account opening process in Upstox is equally simple, and you can do it by following the given steps:
- You need to first get to the Upstox official website and enter your mobile number. Entering your Aadhaar-linked mobile number will be a good idea since it will be needed later in the process.
- After you enter your mobile number and hit continue, an OTP will be sent to your mobile number. You will need to enter it in the Enter OTP field on the Upstox page and hit Continue.
- Next, you will need to create a 6-Digit PIN and hit the Continue button. However, you must note the PIN and keep it safe since you will need it later.
- After that, you will need to enter your email address and hit Update. Next, you need to hit the Get OTP button.
- You will receive an OTP to your email account, which you will need to enter in the Enter OTP field on the Upstox page.
- Next, you will need to enter your PAN details and Date of Birth. After you enter the details, you can hit the Next button. On the next page, you will need to enter some personal information like gender, marital status, annual income, trading experience, father's name, occupation, and F&O segment activation preference.
- After you enter the details, you need to scroll down and accept the Taxpayer Declaration. Next, you can hit the Continue button.
- In the next step, you must provide Upstox with your Digital signature by signing in the Box with your fingers or using a Stylus Pen. After you sign it, you can hit the Continue button.
- Next, you will get an option to connect your DigiLocker with your Upstox account, and you can do this by clicking on the Connect now button.
- After that, you will need to enter your Aadhaar card number and verify it by entering the OTP, which you will receive in your Aadhaar-linked mobile number.
- Next, you will be requested to enable the camera on your device for you to be able to take a selfie and upload it. Once you do it, you can hit the Continue button.
- On the next page, you will need to link your Bank account with Upstox. For that, you will need to enter the Account holder's name, IFSC, and Bank account number and hit the Continue button.
- You can sign up for the limited-time account and Continue. Next, you can upload your income proof, which can be your 6-months bank statement in case you want to activate the F&O segment. Once you upload, you can click Continue. After that, you will get the option to add a Nominee. However, you can do it later, and you can click on “I'll do it later.”
- After that, you will be redirected to the e-Sign page, and you can click on e-Sign with Aadhaar OTP and then ESIGN NOW. After that, you will need to click on Sign now, and it will take you to the NSDL e-Sign page.
- Next, you will need to click on the Box, enter your Aadhaar card number, and hit the Send OTP button. You will receive an OTP to your Aadhaar-linked mobile number, which you will need to enter in the Enter OTP field on the NSDL e-Sign website and click on Verify OTP.
- After that, you will be redirected back to Upstox, and it will complete your account opening process. You will receive your credentials in 24 to 48 hours to your email inbox.
Upstox Charges
Now that you know the various steps involved in the Upstox account opening process, it's time to look at the Upstox charges. Account opening is free in Upstox.
Besides, the platform doesn't charge a Demat Annual Maintenance fee. As far as the brokerage model goes, Upstox charges a minimal brokerage, and here are the brokerage charges:
- ₹20 or 2.5% (whichever is lower) on Equity Delivery
- ₹20 per executed order or 0.05% (whichever is lower) on Equity Intraday and All Segments Futures
- Flat ₹20 per executed order on All Segments Options
In a Nutshell
It's always a great relief to trade on a reliable trading platform with no unnecessary fear in the back of your mind while placing orders. Upstox is definitely one of the most reliable trading platforms in India.
Opening an account with Upstox is entirely an online process and will not take much time if you follow your step-by-step guide. The process is really fast and account activation is quicker than any other platforms. Besides, the platform offers seamless deposits and withdrawals.
Most importantly, you will always find the Upstox support team within your reach whenever any technical difficulty with your Upstox account locks you away.
