Upstox Account Opening Online – Step By Step Guide [2020]

Upstox Account Opening Guide #

If you’re looking for a reliable broker with…

  • Easy to use and fast platform, both for desktop as well as mobile.
  • Low brokerage charges.
  • A single platform to trade everything derivatives, commodities, currencies and
  • Even an opportunity to invest in 25 plus countries with 60 plus exchanges, then you are at the right place.

Today we are talking about Upstox account opening. Upstox which provides you all this and much more, and we are going to learn how exactly to open an account with upstox.

Who am I? #

I am Dean, a full-time trader since 2005, and my mission is to help traders with all aspects related to trading, to help them become a consistently profitable trader.

Why open an accout with Upstox? #

Before we start with the account opening procedure. Let us quickly look at why you should open an account with upstox. Some of the benefits of opening an account with upstox are…

It is a cross platform trading solution… #

What it means is that you can have a desktop solution that is browser-based. You can get the NEST trading platform from upstox, and there is a wonderful app that upstox provides that you can use to trade right from your smartphone.

Reliable platform uptime… #

As regards to the technology underlying their platform. Now we know that there there are some discount broking platforms which have a very, very bad reputation when it comes to server uptime. Their servers go down right at the moment when most of the traders are stuck with their positions and they can do nothing about it.

I have been trading upstox for a while and I haven’t faced any such issues of sorts.

Low brokerage charges… #

Then there is the brokerage charge and upstox charges flat 20 rupees per trade when you’re trading intraday. So if you’re buying and selling stocks intraday or you are trading in their derivatives segments, only then you will be charged 20 rupees per order. Irrespective of the size of that order. So you’re buying one lot or 10 lots of 100 lots or you’re buying 10 shares, 50 shares or 500 shares. The brokerage will be 20 rupees per trade. And if you are buying stocks for delivery, then there is no brokerage at all.

Completely paperless and online account opening procedure… #

Lastly, as we will see in a bit, the account opening process is completely paperless and completely online. So you can open an account in a matter of minutes if you have all the documents handy. And in this video, you will find out all that is required to open an account upstox. I will guide you through the step by step process through this post and you will be able to open an account once you read this post till the end.

Special Offers with Upstox Account Opening #

Now, upstox keeps running different offers at different times. Right now, they are running a very, very cool offer where. If you are paying for account opening right now, you’ll only be charged 249 rupees. And if you choose to pay later, like once your account is open and you find your account for trading, you will be charged 299 rupees.

Note: The offers keep changing so click on the account opening link above to check the latest offers.

Account Opening Special Offers by Upstox
Account Opening Special Offers by Upstox

Brokerage Credit #

Now, why these amounts are irrelevant is because if you look closely, they are providing you brokerage credit with 30 days validity. What it means is that whatever you trade during the 30 days, you get that brokerage back. And I don’t think getting back 249 rupees would be such a big deal.

Money Control Pro Yearly Subscription #

They are also providing you with money control pro yearly subscription, which almost two thousand rupees. So it’s already like eight times the value.

Beginners Stock Market Course #

Then you go to the next thing that they’re offering. It is a beginner’s stock market course from the elearnmarkets platform, and it cost you around 1000 rupees again four times the value.

So we are already adding eight plus 12 times the value of what you are paying at the beginning and that you can get back in terms of brokerage credit.

Stockedge Premium Quarterly Subscription #

And lastly, they are giving you the stockedge premium quarterly membership, which costs you, again, thousand rupees and that too totally free.

OK, so you are getting so much value and all you have to pay, in fact, you don’t even have to pay. Like if you choose not to pay right now and you pay when you fund your account, you don’t have to pay anything at the time of opening the account.

Step By Step Account Opening Procedure with Upstox #

So these are all the benefits that you get when you open an account with upstox. Now, let us go and look at the step by step procedure to open an account with upstox. So let’s begin.

Step 1: Documents required to open an account… #

The first step is to keep these documents ready.

  • First is your PAN card.
  • Second is your Aadhaar card.
  • Third is your bank proof and a cancelled check will be helpful. Please understand the bank proof that you are going to use must contain the MICR code and the IFSC code of that bank. If it is not there, then that document will not be considered as bank proof.
  • Then you will need the income proof and in that, you can use your…
    • Salary Slip
    • Latest income tax returns
    • Last six months of the bank statement.
  • Lastly, a scanned copy of your signature, which you will be required to upload while opening your account.

Step 2: Get the account opening link… #

Step number two is to click on the link below. Here you will find a link for a desktop platform as well as mobile platform.

Upstox Account Opening Link Desktop:

Upstox Account Opening Link Mobile:

If you are reaqding this on your mobile click on the mobile platform. The procedure is simple, just that two different platforms on which the links will open. This will open the registration page for opening an account,

Step 3: Enter your email and mobile no… #

Next step is to enter your details, enter your email and your mobile number and click on send one time password. One time password will be sent to your mobile. Enter the one time password and click on Sign Up.

Upstox Account Registration Page

Step 4: Enter your PAN and Date of Birth… #

The next step is to enter your pan details and enter your date of birth and click on next.

Enter your PAN and Date of Birth...
Enter your PAN and Date of Birth…

Step 5: Enter some personal information… #

Then you will have to enter some personal information and that information like…

  • What is your gender, marital status, annual income?
  • What is your experience with trading?
  • And what is your occupation?
  • Are you a PEP?
  • Is your country of Tax Residency other than India? Well in our case it is not. So I click on no, I accept the above declaration and click next.
Enter some personal information...
Enter some personal information…

Step 6: Enter you trading preferences… #

Now you have to set your trading preferences. That is step number six in this. You are going to decide for which segment you want to open your account. Now, this whole process has to be repeated if you don’t select all the segments right now.

Three trading segments… #

  • Equity
  • Futures and options, currency
  • Commodity.

So let’s say you just select equity right now and if you will, further down the line, want to trade in derivatives or commodities, you will have to do the whole process again.

Enter you trading preferences...
Enter you trading preferences…

So I suggest do this process right now and don’t worry about it in the future. So select everything.

Two trading plans… #

Then we decide on which plan we want to select.

  • Priority Plan
  • Basic Plan

In priority plan. You are getting 27 times leverage. If you are using the basic plan, you are getting 20 times leverage. But the brokerage for priority plan is 30 per trade, whereas for the basic plan it is 20y per trade. I don’t want this insane amount of leverage, so I will select the basic plan and then I will click on next.

Surprise gift from Upstox… #

Then upstox will keep surprising you with some freebies here they are saying if you want a free stock and if you want you can just click. Yes. And move on to the next

Step 7: Enter your bank details… #

Step Number seven is to enter your bank details. select the account type and click next

Enter your bank details...
Enter your bank details…

Step 8: Upload Specimen Signature and Income Proof #

Step number 8 is to upload your specimen signature and your income proof. So let us do that. I have already taken a picture of the specimen signature and I will upload that for income proof.

I am uploading the last six months of bank statement. If your PDF is password protected, it will ask for a password that will unlock the PDF. So enter that password. The password will be provided to you by your bank. Enter your full name and click on next.

Upload Specimen Signature and Income Proof
Upload Specimen Signature and Income Proof

Step 9: Upload your photo & share your location… #

Next step is to upload your photo and in this case you will be asked to take a selfie. So do that and then share your location and then click on next.

Upload your photo & share your location...
Upload your photo & share your location…

Then enter your email address and click on Get OTP because you have to confirm your email address here. Enter the one time password that you receive in your email and click next.

Step 10: Pay Now or Pay Later & Special Offers #

Now there is a limited time account opening offer where you just have to pay 249 rupees. As we discussed earlier, if you want to pay right now or you can choose pay later if you want to pay that amount later, when you add money to your account, I will just click on pay now.

Then it is asking me, do you have a mobile number which is linked with your aadhaar card I will say yes and then I will say continue next. I have to make the payment.

Pay Now or Pay Later & Special Offers
Make Payment Now or Pay Later & Special Offers

Step 11: E-Sign your application… #

Now we have to sign our application if you want to do this process completely online. So let us see how we can do that. Click on the E-sign with aadharr OTP. The next step is to E-sign your form using your aadhaar number.

E-Sign your application...
E-Sign your application…

Step 12: E-sign with aadhaar… #

So click here E-sign now and enter your Aadhaar number here. So I will enter my aadhaar number and click send OTP. And OTP will be sent to your account enter the OTP. Click Verify OTP. The E-signing process will happen. You have to be patient. Wait for a minute.

E-sign with aadhaar...
E-sign with aadhaar…
Enter aadhaar number...
Enter aadhaar number…
Verify OTP
Verify OTP

Step 13: Wait for account to open… #

Application submitted. It says that it usually takes one to two days to verify and open. Your account application is submitted and your account will be activated as soon as all the documents and all the forms that you have submitted will be verified by upstox.

Download the Upstox Mobile App #

In the meanwhile, you can start by downloading there app. You can download the app. And I have shared a link to download the app as well.

Upstox Mobile App Download Link:

Conclusion #

So this concludes your account opening procedure with upstox. We saw what are the benefits of opening an account with stocks and the latest offers that are running right now.

And if you have any questions at all with the account opening process, all you have to do is write that question in the question form below and I will get back to you as soon as possible.

Find this video helpful, then do share it with your friends so that they can use this information also to open an account with upstox.

Other Upstox Platform Related Questions #

I’ve been using upstox for a while now, and if you have any questions related to the upstox platform, whether it is a mobile platform or the desktop platform, you can type that question in the question form below. And I will get back to you with an answer as soon as possible. Also, you can let me know which topic I should make my next post on weather related to upstox or trading in general. That is how easy it was to open an account with upstox completely online.

I will see you in the next one…