Table of Contents
What is Upstox?
Upstox is India’s leading discount broker. They provide DeMat account service with best in class Web Portal and Mobile App. Here are a few reasons to open your demat account with Upstox.
Benefits of Upstox:
- There is absolutely no charge or registration for opening an account.
- You get a Rs 500 worth of Flipkart voucher FREE! Although for a limited period with the use of code LLA500.
- There is Zero Brokerage Fee for equity delivery trades. Equity delivery trade means holding on to the shares you’ve bought for more than a day. For same-day trading, also known as Intraday trading, you will have to pay Rs 20 per trade.
- Upstox also has a partnership with three FinTech platforms – Orostocks, Tavaga and Advisory Mandi. These platforms provide you with investment advice from highly experienced consultants. You get access to two of them for free and the third one at an 80% discount. Their actual worth is Rs 28,000 though! These will be available via a Coupon Code sent on your mail, once you register with Upstox.
- The full registration process is completely paperless and only takes 5 minutes. The only scanned document needed is of your signature. So easy right!
- There is no need to courier the Power of Attorney to the broker here unless you reach a threshold of Rs 20 lakh of trading.
- Mr Ratan Tata himself is an investor in the company. Hence, you can easily trust it.
- Finally, The Upstox app, as well as the desktop interface, are really easy to use for anyone.
Steps to register on Upstox:
- Click on the link for the website.
- Enter your email id and phone number to get an OTP.
- Enter the OTP received to complete the Sign Up process.
- On the next screen input your PAN details and Date of Birth. Then click on Next.
- Now input your Gender, Marital Status, Annual Income, Trading Experience, Political Exposure and Occupation from the choices given.
- For the question – Is your country of tax residency other than India, select No. This means that you pay taxes only in India.
- Next is the Tax Declaration followed by a checkbox for I Agree. Read it carefully and then tick on the checkbox. Click on Next.
- Now you have to select your trading preferences. Since both Equity and Commodity trading are free you can select both. But for choosing Commodity trading you will have to give your income proof. This can be your 6-month bank statement or ITF or salary slip.
- For, Choose a Leverage Plan on Equity Cash – we suggest you select the Basic package. Since we advise you to do long term trading and wealth creation rather than same-day trading and also the cost per trade is lower for this package.
- For, Enter Coupon code – input LLA500. This will get you Rs 500 worth of Flipkart voucher on your email id by October 20th 2019.
- Click on Next.
- You will get a congratulatory message on the screen, asking you to claim your surprise free stock. Click on Yes.
- Now input your bank details as follows – Account Holder Name, IFSC Code, Bank Account Number, whether Account type is Savings or Current. Then click on Next.
- Now it will ask you to upload your documents. For this, just upload a scanned copy of your signature by easily signing on a paper, taking an image of it from your phone. and cropping and sending it to your desktop.
- Income proof is only needed for Commodity trading.
- Click on Next.
- Lastly, you need to sign your application by way of two options, which are with mobile and Aadhaa linking and without linking mobile and Aadhaar linking.
- If your mobile number and Aadhaar are linked then you can select the option, e-Sign with Aadhaar OTP.
- For this, you need to visit the official Aadhaar virtual ID generation page and enter your Aadhaar number as well as the C
aptcha . Click on Send OTP. - Enter the OTP to Generate VID (Virtual ID). This will send a virtual ID to your phone number.
- Now go to the Upstox page and click on E-Sign to get a Security Code on your phone. Input it here and click on Submit.
- Here you have to input the Virtual ID received on your phone. Then, click on authorization checkbox and Request OTP.
- Enter the OTP and click on Submit.
- For this, you need to visit the official Aadhaar virtual ID generation page and enter your Aadhaar number as well as the C
- You will now get a successful completion message.
Be sure to watch our registration video below!
Also read, Best Features Of IRCTC App.
Join the LLA telegram group for frequent updates and documents. Download the telegram group and search ‘Labour Law Advisor’ or follow the link – t.me/JoinLLA
It’s FREE!
