Whenever you want to Invest in Shares / Trade-in Futures or Options you are required to have a Demat Account. Demat Account is be opened with a Broker Registered with SEBI & Exchanges. In this article, we will discuss how to open Demat Account with Upstox.
Upstox is a low-cost Discount Broking firm providing Trading & other Investment Related Services at an unbelievable price. Upstox has its Upstox Pro Web & Upstox Pro Mobile Platforms which offer Trading, Analysis, Charting and many more features on its App & Website. Upstox provides trading facilities on the go & its mobile app makes it easy to place orders on the App and the Website.
If you want to know more about Upstox we have Created a Detailed Article on Upstox Demat Account Review. You can read this article & get more insights on Upstox Demat Account.
Step 1:- Go to Upstox Website
The First Step to Create a Demat Account with Upstox is to go to the Upstox Website by Clicking Here. You will be landed to a page where you will be required to enter your Email Address & Mobile Number.
Step 2:- Enter Your PAN Number & Date of Birth
Once you have entered your Mobile Number & Email Address, You will receive an OTP on Mobile Number. Just Enter Correct OTP & Press Next.
Next Step is to Enter your Correct PAN Number & Correct Date of Birth. After Entering Please Verify & Press Next.
Step 3:- Enter Required Details
On the next page, you are Required to Enter Required Details like your Gender, Marital Status, Annual Income, Trading Experience, Your Occupation, Your Father /Spouse Name & Finally If you are Politically Exposed Click Yes Otherwise Click on No. Verify All Details Once & Click on Next to Proceed to Next Page.
Step 4:- Select Your Trading Preferences
On the Next Page, you are Required to Select your Trading preferences such as:-
Whether you Want to Trade-in Equity/Commodity or Both. You can Select as you want, you can select Both or Either of these. If you are Selecting Commodity you are Required to Give a Proof of Income at Latter Stages (Step No.6). Bank Statement of last 6 Months, Salary Slip with Sign & Stamp & Copy of ITR Acknowledgement All Qualify as Income Proof
Next, you need to Select a Leverage Plan. In Upstox there are 2 Plans Priority & Basic. If you want more Margin exposure you can Select Priority Plan Otherwise Basic Works fine as well. Select the option you want & Click on Next.
Step 5:- Enter Your Bank Details
On this Step, you are required to Enter Your Correct Bank Details, Such as IFSC Code, Bank A/c Number, Re-Enter Bank Account Number for Accuracy, Select Account Type Whether Savings or Current. Please Verify all the Details Once Again.
Final Step is to Upload a Photo of Cancelled Cheque/ Bank Statement. The Document can be PDF/JPEG/PNG but make sure it is Clear & Easy to Read. Details Such as IFSC Code & MICR Code Should be Properly Visible in the Photo. Upload the Photo & Click on Next.
Step 6:- Upload Specimen Signature & Income Proof.
Now we have to Upload Specimen Signature It is to be taken on White Paper & Uploaded in PNG/JPG Image Format of Less than 5 MB. Please Make sure it is clear as it will be used to Cross Verify any future Modification Requests.
For those who have opted to Trade in Commodity (MCX) are Required to Enter their Income Proof. Bank Statement of last 6 Months, Salary Slip with Sign & Stamp & Copy of ITR Acknowledgement All Qualify as Income Proof. You are Required to Upload in PDF/JPG/PNG Format Less than 5 MB.
If you have not opted for Commodity Earlier you can Skip this & Click on Next.
Step 7:- Enter Address & Aadhar Details
In this Step, you are Required to Enter your Address details Such as Flat No., Street, City, Pincode & State. Please Make Sure you Enter the Address details Correctly.
On the Right Side, you can see you have to Upload your Aadhar’s Front & Back Side Images. It can PNG/JPEG of Less than 5 MB preferably take on a White Background. You are Required to Upload Aadhar Front Side Where it Says “Aadhar Front Side” & Upload Aadhar Backside where it says “Aadhar Back Side”. Do Make sure you Upload Correct file in the Correct Position.& then Click on Next.
Step 8:- Enter PAN & Photo Proof
Now After Aadhar You are Required to Enter Photo of PAN Card, It Should be in PDF/JPG/PNG Less than 5 MB where your Name, Signature, Date of Birth & PAN Number Should be Clearly Visible.
On the Right Side, you are Required to Upload your Plain Background Photo where Passport Size is Recommended, Again It Should be in JPG/PNG Less than 5 MB. Once you are Done Uploading Click Next to Continue.
Step 9:- Sign Your Application
This Step Requires you to Sign your Application. You can E Sign if Mobile & Aadhar Card is Linked Otherwise you have to Download & Print the Form, Sign & Courier it to the registered address.
When you Click on E Sign. You will be redirected to UIDAI Website Where you will be required to Enter Your Aadhar Number & Verify OTP Received on Registered Mobile Number.
Enter OTP Received on the Right Side
You will a Receive a Message on Screen that your VID is Generated Successfully.
Now you need to Click on Next/Esign where Another Box will Open Up & Another OTP will be sent on Mobile Number which needs to be entered in the Box & Click on Submit. Your Account Opening Form will be opened just go through it Once & Click on “Sign Now”.
On the Next Page Again you will be redirected to NSDL Website, there you are required to Enter your Aadhar Number Again, Tick the CheckBox & Click on Request for OTP. Enter OTP Received on Mobile & Click on Submit.
Step 11:- In-Person Verification
This is the final Step for Opening your Demat Account where you may be Asked for In-person Verification. In this, you are required to make a 10 Second Video holding your PAN/Aadhar Card where your face & Document Should be Clearly Visible.
This IPV is largely dependent on your Past KYC. Means in Some Cases you will be asked to do a PAN Card IPV, In Some Cases, an Aadhar Card IPV or you will be asked to do the Both the IPV. Also, there might be some Cases there won’t be Option to do IPV and you will be taken to the Last Page.
After you Upload the Required video your Application Process will be Complete & you will receive the Final Message on the Screen.
CONGRATULATIONS Now your process for Application is Complete. Kindly Wait for 2-8 Hours. If All Documents are Proper you will Receive Login Id & Password on your Mobile Number. You can Now Go to Upstox Website & Start Trading.
Some Points to Consider
1) This is a promotional offer given by Upstox where you can Open a Demat & Trading Account for free which would normally Cost Around Rs.300. This Offer can End Any time, so If you want a Demat Account for free Go to Upstox & Create your Demat Account Now.
2) The Procedure for Opening Demat Account in future might Change a bit, Some new things might be Added & Some things would be Removed. So Don’t Worry & Go Ahead and Open your Demat Account with Upstox. If you have any questions you can ask in the Comments Section Below.
Thank You very much for Reading this Article hope you are Able to Understand How to Open a Demat Account If you have any questions or having any Problems in Opening Demat Account do let us know in the Comments Section Below & We would be happy to help.