How to Open a Upstox Demat Account? Deposit, Charges & Documents Required
Investing in the stock market has become increasingly accessible to individuals seeking to grow their wealth. One essential step in this journey is to open a Demat account—a secure repository for holding your shares and other securities in electronic form. Upstox, a leading brokerage firm, offers a user-friendly platform that empowers investors to navigate the world of stock trading with ease.
In this blog, we will provide you with a comprehensive guide on how to open a Upstox Demat account. So, let’s dive in and unlock the gateway to investing with a Upstox Trading account.
What is an Upstox Demat Account?
Upstox serves as the depository participant (DP) for both CDSL and NSDL, which are the designated depositories in India.
When you open a demat account with Upstox, you’re essentially establishing it with either CDSL or NSDL through Upstox.
CDSL and NSDL are responsible for holding securities in the demat account, while Upstox, as a Upstox DP name, manages and services the customer’s demat account. DP’s charge customers for their demat account services, and CDSL imposes fees on each demat account transaction.
Types of Upstox Demat Accounts
Upstox offers three types of Demat accounts:
- Regular Demat Account: Designed for Indian residents.
- Repatriable Demat Account: Tailored for Non-Resident Indians (NRIs) and requires linkage to an NRE bank account.
- Non-Repatriable Demat Account: Also intended for NRIs, but funds cannot be transferred abroad, and it must be linked to an NRO bank account.
How Does the Upstox Demat Account Work?
The Upstox Demat Account simplifies the process of holding and trading securities in electronic form. Opening an account is quick and easy, whether you choose to visit a branch or go through the online process. Once activated, you can fund your account, start trading, and securely hold shares and other securities.
With the Upstox Trading Account, you have access to a diverse range of investment options, including stocks, mutual funds, bonds, ETFs, and derivatives like options and futures. The user-friendly trading platform ensures a seamless experience, allowing you to monitor market data, place orders, and track your investments with ease.
Moreover, security is of utmost importance at Upstox, employing advanced technology and encryption to safeguard your investments and personal information. The Upstox online account opening process saves you time, enabling you to have your account up and running in no time. With the Upstox mobile app, you can conveniently manage your investments from anywhere.
What are the Documents Required for Upstox Demat Account Opening?
To open a Upstox new account (Demat), you need to provide certain documents such as proof of identity (PoI) and proof of address (PoA). The following are the documents required for Upstox account opening:
1. For Proof of Identity, you can submit documents such as:
- PAN Card, Aadhaar Card
- Passport, Voter ID Card
- Driving License.
2. For Proof of Address, accepted documents include:
- Passport, Aadhaar Card
- Voter ID Card
- Ration Card
- State-issued Driving License
- Bank account statement
- Utility bills like electricity or gas bills.
You have the convenience of submitting these documents online through Upstox’s website or mobile app. You may also be required to submit an online account opening form. Once you have completed the document submission process, your Demat account will be opened within a few days, allowing you to start your investment journey. Let us now learn how to open demat account in Upstox.
Step-by-Step Guide to Open a Upstox Demat Account
A. Open Upstox Demat Account via smallcase
If you’re eager to kickstart your stock market investing journey, opening a Upstox Trading account through smallcase is a wise choice. With smallcase, you can explore carefully curated portfolios built around specific ideas, themes, or strategies.
Follow these simple steps to effortlessly open your new Demat account via smallcase and embark on your investment adventure:
1. Visit the smallcase website and navigate to the “Open Broker Account” section.
2. Provide your phone number and click on “Get OTP” to receive a one-time password.
3. Enter the received OTP to verify your phone number.
4. Select Upstox as your preferred broker from the available options.
5. Fill in your name and email address as part of the application process.
6. Complete the application process by following the provided instructions.
7. Congratulations! Your Upstox Demat account is now open. You can start using your Demat account via smallcase to invest in a diverse range of securities and effectively manage your investment portfolio.
By opening your Upstox Demat account through smallcase, you gain access to a seamless and convenient platform that empowers you to explore, invest, and grow your wealth in the stock market. Get started today and unlock the potential of your investment journey.
B. Open Upstox Free Demat Account Via Upstox
Another way to open a Upstox free Demat account is by directly visiting the Upstox website. Here are the steps that you need to follow for Upstox Demat Account opening:
- Visit the Upstox website (https://upstox.com/).
- Click on the “Open an Account” or “Sign Up” button to begin the account opening process.
- Verify your mobile number by entering the OTP (One-Time Password) sent to your registered mobile number.
- Fill in your personal details, including your name, email address, date of birth, and PAN (Permanent Account Number) details.
- Upload the necessary documents, such as proof of identity (PoI) and proof of address (PoA), which may include your PAN card, Aadhaar card, passport, voter ID card, driving license, bank account statement, or utility bills.
- Complete the in-person verification (IPV) process either through a video call or by visiting a Upstox partner for a face-to-face verification.
- Once your application is submitted and approved, you will receive your Upstox Demat account login details, including a unique client ID.
- Fund your Demat account by transferring funds from your bank account.
- Begin trading and investing in a wide range of securities, such as stocks, derivatives, and mutual funds.
C. Paperless Upstox Demat Account Opening
Opening a demat account with Upstox offers a key benefit—eliminating the hassle of dealing with paper forms. The entire process can be conveniently completed online. To open an Upstox account, ensure your Aadhaar Card is linked to your active phone number for OTP verification.
Simply fill out the Account Opening Form on Open a Demat Account, and upload necessary documents, such as your Aadhaar Number, PAN Card, canceled cheque, and the latest bank statement with IFSC/MICR code. This streamlines the account opening process for a quicker and more efficient experience.
D. Non-Paperless Upstox Demat Account Opening
To open a non-paperless account:
- Print and sign the account opening form at specified locations (marked X) ensuring your signature matches the submitted ID proofs.
- Attach a recent passport size photo on Page 4, signing ACROSS it.
- Account opening fees, specified on the first page, are non-refundable.
- Include a cheque for the designated amount payable to “RKSV Securities India Pvt. Ltd.” The amount varies based on account types and desired trading segments.
- For a Commodities trading account, submit a separate cheque payable to “RKSV Commodities India Pvt. Ltd.”
- Avoid bounced cheques by ensuring sufficient bank balance.
- To link your primary bank account with Upstox Demat and Trading account, send a canceled cheque from that account, different from the one used for fees payment.
Key Features of Upstox Demat Account
Now that we have explored the Upstox demat account opening procedure, let us take a look at some of the key features. Some of the key features of an Upstox Demat Account is as follows:
- Direct deposition of corporate benefits (dividends, bonuses, interest) in your Upstox demat account.
- Simple transfer of shares from your existing trading account to Upstox.
- Automatic updates for bonus issues, right shares, and stock splits.
- Ability to hold mutual funds within the same demat account.
- Swift and responsive online customer support.
- Seamless investment options in Equity, Mutual Funds, Corporate FDs, Insurance, and more under a unified demat account.
Upstox Demat Account Charges & Fees
To begin online trading, investors need to establish an account with a Depository Participant (DP). When opting for a Upstox demat account, certain fees and charges are applicable.
You can check out the Upstox Demat account charges in the table below:
| Charge | Amount |
| Upstox Account Opening Charges – Trading | None |
| Upstox Trading Account Charges | ₹20 per order or 0.05% (whichever is lower) |
| Upstox Account Opening Charges – Demat | None |
| Upstox AMC Charges for Demat (Yearly) | ₹25 (excluding GST) |
| DP Charges in Upstox | ₹25 (₹5 by CDSL and ₹20 by Upstox) plus 18% GST |
Upstox Demat Account Products
Upstox offers diverse products within its Demat Account services:
- Upstox Pro Web: This web-based tool facilitates seamless trading of shares and mutual funds.
- Upstox Pro Mobile: The mobile application, Pro Mobile, extends the convenience of buying and selling shares on the go.
- Upstox Mutual Fund: This application streamlines Mutual Fund investments directly from the Upstox Account.
- Keystone Upstox: Functioning as the back office portal, Keystone Upstox enables users to review their entire trading history since joining Upstox.
In essence, Upstox provides a personalized trading experience, offering a range of products tailored for both web and mobile users.
How to Safeguard your Upstox Demat Account?
Safeguarding your Demat Account, which houses all your investments and wealth, is crucial. Here’s a concise guide to ensure its security:
- Nominate someone trustworthy: Legally appoint a nominee to manage your shares in your absence. Easily add a nominee through simple steps.
- Keep your details confidential: Never share your Upstox Trading account passwords/PINs. Update your Upstox app regularly for the latest security patches.
- Beware of phishing attempts: Upstox will never request passwords/sensitive details via email/messages. Avoid clicking on suspicious links or downloading attachments from unknown sources.
- Secure your devices: Protect your mobiles/computers with strong passcodes/biometric authentication.
- Avoid public Wi-Fi: Refrain from using open public Wi-Fi networks when accessing your Upstox app.
- Monitor account activity: Report any suspicious activity to Upstox immediately. Ensuring these measures will enhance the security of your Demat Account.
Can We Buy and Sell Stocks on Upstox?
Yes, you can buy and sell stocks on Upstox. As a leading stockbroker, Upstox provides a platform for investors to trade stocks, derivatives, and other financial instruments. You can place buy and sell orders for stocks listed on various exchanges, such as BSE and NSE, through your Upstox trading account.
To begin buying or selling stocks through Upstox, you must open a trading account and have a minimum deposit in Upstox of ₹0 into it. Once your account is funded, you gain the ability to commence trading by executing orders for the specific stocks you desire to purchase or sell. For any ongoing SIP, the amount will be debited directly from your bank account.
Moreover, upon selling shares from the demat account, a Depository Participant (DP) charge is levied by the depository, known as Central Depository Services (India) Limited (CDSL). In Upstox, the DP charge amounts to ₹25 (₹5 by CDSL and ₹20 by Upstox) plus 18% GST, and is applicable on a daily basis per stock, irrespective of the quantity sold. Let us now learn how to trade in Upstox.
Steps for Buying and Selling Stocks on Upstox
Now that we know how to open Upstox account, it is also essential that we explore how to trade in stocks on Upstox, as well. To purchase or sell stocks on Upstox, follow these steps:
- Access your Upstox trading account by logging in.
- Choose the specific stock you wish to buy or sell.
- Enter the desired quantity of shares you want to purchase or sell.
- Select the order type, whether it’s a market order or a limit order.
- Finally, click on the “Buy” or “Sell” button to execute the transaction.
Your order will be placed and executed once the market opens.
What are the Benefits of Opening a Upstox Demat Account?
Opening a Upstox Demat account comes with several advantages, which include:
- No account opening and maintenance charges: Upstox eliminates any fees associated with opening and maintaining Demat accounts.
- Low brokerage fees: For equity intraday, F&O, currency, and commodity trading, Upstox offers a flat brokerage fee of ₹20 per order or 0.05% (whichever is lower). Mutual funds and IPOs incur no brokerage charges.
- Simple account opening process: You can effortlessly open a Upstox trading account online within minutes.
- User-friendly trading platform: Upstox provides a trading platform that is user-friendly, making it accessible for both novice and experienced traders.
- Round-the-clock customer support: Upstox offers 24/7 customer support to assist you with any inquiries or concerns you may have.
Important Tips and Precautions for Upstox Demat Account Holders
Here are some essential tips and precautions for Upstox Trading account holders:
- Safeguard your Upstox login credentials and refrain from sharing them with anyone.
- Exercise caution when encountering unfamiliar links in emails or SMS messages, as they may be potentially harmful and attempt to extract your personal information.
- Always remember to log out of your Upstox account once you’ve finished using it to prevent unauthorized access.
- Create a strong password for your Upstox account, employing a combination of at least 8 characters, including uppercase and lowercase letters, numbers, and symbols.
- Enhance the security of your Upstox account by enabling two-factor authentication, which adds an extra layer of protection by requiring a code from your phone in addition to your password during login.
- Promptly report any suspicious activity to Upstox. If you notice any unauthorized logins or withdrawals in your Upstox account, notify Upstox immediately.
To Wrap It Up…
Opening a Upstox Demat account is a crucial step towards realizing your investment goals. It not only provides a secure and convenient way to hold your shares but also grants you access to a robust trading platform with a plethora of investment opportunities.
With Upstox, you gain the advantage of zero account opening and maintenance charges, low brokerage fees, a user-friendly interface, and round-the-clock customer support. So, don’t wait any longer. Open your Upstox Demat account today and embark on an exciting journey into the world of investing.
FAQs
Yes, Upstox offers a free Demat Account. Opening a Trading Account with Upstox does not involve any account opening charges. However, please note that there might be other fees and charges associated with trading and other services offered by Upstox.
Upstox does not require a minimum balance in your trading account. You can start trading with any amount that suits your investment goals and preferences.
While there might be certain charges associated with specific services, Upstox does not charge a monthly fee for maintaining a trading account.
There is no minimum withdrawal amount specified by Upstox. You can withdraw any available funds from your Upstox trading account as per your requirements. However, please note that there might be applicable charges for withdrawals, depending on the payment method and transaction size.
You may open an Upstox demat account effortlessly by visiting their website or mobile app. Simply fill out the account opening form, upload necessary documents, and complete the e-sign Upstox account opening process.
For closing Upstox account for demat, simply complete the Upstox account closure form found on their website, sign it, and send it with the necessary documents to their office or via courier to achieve the upstox account closure.
Yes. There are no opening Upstox account charges or annual maintenance fees.
All About Demat Accounts on Smallcase –
Learn what are demat accounts, how to use them, process to open a new demat account with the multiple broker supported on smallcase platform. Below is the list of such articles to help you with the Demat process –
