Upstox Account Types

Upstox offers various account types designed to cater to different trading needs. The primary accounts include:

• Demat Account: This account allows you to hold your financial securities (like shares, bonds, mutual funds, etc.) in an electronic format. Key features include:
• Zero Account Opening Charges: Generally, Upstox offers free opening of demat and trading accounts.
• Annual Maintenance Charges (AMC): Typically ₹150 per year, often waived for the first year for new users.
• Multiple Asset Classes: Hold various investments like equity shares, mutual funds, IPOs, bonds, and more in a single account.
• Seamless Online Process: Requires only PAN, Aadhaar, and a linked mobile number for OTP verification.
• User-Friendly Platform: Access and manage investments easily through the Upstox mobile app and web platform.
• Trading Account: This account is linked to your demat account and is used for buying and selling securities in the stock market. It also features:
• Flat Brokerage Model: Up to ₹20 per order for various segments (equity, F&O, commodity, currency).
• No Commission on Mutual Funds and IPOs: Investing in mutual funds and IPOs through Upstox usually incurs zero commission.

Upstox Broker Account Opening Process

Opening an Upstox broker account is a straightforward online process that typically involves the following steps:

• Sign Up: Visit the Upstox website or app and sign up using your mobile number.
• Verify Mobile Number: Enter the OTP sent to your mobile number.
• Set Up PIN: Create a 6-digit PIN for secure login.
• Enter Email: Provide your email address and verify it with an OTP.
• Personal Details: Fill in your personal information, including PAN and date of birth.
• KYC Verification: Complete your KYC process by linking your DigiLocker with Upstox, usually requiring your Aadhaar number. If you are KRA compliant, this step might be skipped.
• Bank Account Details: Link your savings or current bank account for fund transfers.
• Live Photograph: Grant camera access to capture a live photograph as mandated by SEBI.
• Signature: Draw your signature digitally or upload a photo of your signature matching your PAN card.
• Nominee Addition (Optional): Add up to 3 nominees at this stage or do it later.
• Aadhaar E-Sign: Electronically sign the account opening form using your Aadhaar OTP.

After completing these steps, your application will be reviewed, and your account will typically be activated within a few working days. You can track your application status on the Upstox platform.