Upstox: Real or Fake? If you are one of those people who are wondering about this question, this post is for you. In this post, I will look into some important details of this trading platform, such as its membership and track record, to confirm if it's real or fake.
Upstox by RKSV Securities India Pvt Limited Membership Info:
Upstox is a discount broker that lets you trade and invest in various financial securities, including Stocks, F&O, Mutual Funds, IPOs, Bonds, and ETFs. The platform is registered with SEBI. Besides, the platform has memberships with all the leading exchanges in India, including BSE, NSE, and MCX.
Here are the Upstox membership details:
- SEBI Registration No. INZ000185137
- CIN Number: U74900DL2009PTC189166
- MCX Member Code: 46510
- NSE Member Code: 13942
As you can see, Upstox is a SEBI-registered broker and a reliable platform. Besides, I looked into Upstox's track record and couldn't find any major issues in the past. Another good thing about this platform is it doesn't charge any account opening fee and AMC. You will only be charged nominal brokerage fees when you trade on this platform.
Beware of Fake Telegram Channels Impersonating Upstox
We couldn't find any actual issues with Upstox. However, many fake Telegram channels try impersonating leading discount brokers to cheat people.
There have been instances where people trusted fake telegram channels for their investment advice and lost big money. Another scan that is very popular these days is convincing trading account users to share their credentials with the fraudster.
The fraudster would convince the person, saying he would trade and earn profits for the account user. As someone shares one's account credentials, the fraudster would keep convincing the person to add more money. Finally, one day, he will get out of touch forever.
The only way to prevent such fraud is to stick to the exact websites and social media channels of Upstox. Most importantly, you must never share your Upstox account PIN with anybody. Here are the details for Upstox's official website and social media channels:
- Website: www.upstox.com
- Facebook: https://www.facebook.com/upstox
- Twitter: https://twitter.com/upstox
- Telegram: https://t.me/TheOfficialUpstox
- Instagram: https://www.instagram.com/upstox.pro
- YouTube: https://youtube.com/@UpstoxOfficial?si=YKZ29_b9LhtHWTA9
- LinkedIn: linkedin.com/company/upstox
It's also important to understand that depending on others' advice, you can never succeed in the share market trading and investing. To succeed in the share market, you must learn the essential lessons and trade on your own. Even on a day when you make losses, the market teaches you some important lessons, and that's how the actual journey is. There is no alternative to this.
Conclusion
As you have seen in this article, there is nothing fake about Upstox. The platform is SEBI-registered and has membership with all the leading exchanges. Further, Upstox has an excellent track record and brilliant customer support services. You shouldn't fall prey to scams as long as you stick to Upstox's official website and social media channels and don't share your account credentials with anybody.
