Are you looking for a free Demat account with an elite stockbroker? Well, look no further than Upstox Free Demat Account who is offering its valuable account opening services free of cost. Great, isn’t it?
To know why and how one can open a free Demat account with Upstox, read this complete article to acquire the detailed information on the same.
Established in the year 2011, it is the prominent discount broker in India that offers innovative and advanced investment options and a seamless method to do online trading on various trading and investment segments.
Follow the article to learn more about the Upstox Free Demat account in detail.
How to open Free Demat Account in Upstox
Opening a Demat account is necessary to carry out the trading and investment process. To open a free Demat account with Upstox, you will be required to follow some specific steps.
So, there are two different ways to open the Upstox Free Demat account. The ways or methods are as follows-
The online method is one of the simplest and quickest ways to register with Upstox.
Simply visit the Upstox website and head towards the “Open Demat account” button. In three quick and straightforward steps, one can open a free Demat account with Upstox.
In the newly opened tab, enter your email address and mobile number. Now, click on the “Send OTP” blue color button.
.Now, submit the scanned copies of the mandatory documents such as Address Proof, Identity proof, colored passport size photographs, bank details, etc. [The complete information on documents is mentioned in the next stanza]
Further, enter the Aadhaar card in the given space. The Adhaar card must be linked with your registered number.
Once you enter the Aadhaar details, a One-Time-Password (OTP) will be generated. Now, cross-verify the details entered by you. You can click on the submit button if the information is correct.
After a successful background check, the Upstox Free Demat account will be opened in 12 to 24 hours, and then you can smoothly trade on the Upstox Platforms.
Post this process, you are required to sign the Upstox POA (Power of Attorney) documents, which will give the right to the Upstox to debit your account while buying stocks, shares, mutual funds, debentures, etc.
This is the traditional method of opening a Demat account where one needs to fill and submit the form physically. This method is time-consuming and tedious.
Everything will be carried out by you. By this, we mean that if you want to open the Upstox Free Demat account, then you will be required to visit their nearest branch along with your documents. Or you may also contact Upstox Relationship Manager.
After submitting all the documents, the Demat account opens in 2 to 3 business days.
After the verification process, a welcome kit will be shared with you. This kit contains your account number, also known as Beneficial Owner Identification Number (BOI), login ID along with a password.
Using your mobile or email address, you can successfully login to the Upstox Trading Platforms- Upstox Web and Upstox Pro.
Please note that while filling and submitting the application form for opening a Upstox free Demat account, keep an extra copy of the documents with you.
For opening the account, you do not require any Upstox free demat account coupon. Simply apply for the demat account, and with no cost, the account will be opened instantly.
Documents required to open Upstox free Demat account
To open a free Demat account with Upstox or with any stockbroker, it is crucial to submit some required documents through an electronic or offline way, depending on your method of account opening.
Some of the documents required to open Upstox free Demat account are-
Identity Proof Documents
Documents of Address Proof
Documents containing Bank details
Identity Proof Documents include those certified documents that have a picture of the Demat account holder such as Voter card, Adhaar card, Driving License, PAN card, Ration card, etc.
Documents of Address Proof includes such certified documents that have the address of the Demat account holder and is approved by the Indian Government. These documents can be any one of the below-
Utility Bill (Water, Gas, Electricity, Phone, etc.)
10th or 12th mark sheet
ITR ( Income Tax Return), etc.
Documents containing Bank details are the ones such as Cancelled cheque, Passbook copy, Last 6 months statement, etc.
Free Demat Account Opening Charges in Upstox
Although opening a Demat account with Upstox is entirely free; however, there are certain charges levied by the stockbroker.
As a matter of fact, opening the Upstox Demat account is quick and easy. But there are some of the charges that are necessary to pay while opening the Upstox Free Demat Account:
Free Demat Account Opening Charges in Upstox
Demat account opening charges
AMC charges (Annual Maintenance charges)
₹15 per debit instruction + depository charges at actual
₹2 per certificate + courier charges of ₹35 per demat request for every 500 grams.
₹25 per certificate or 0.05% of the value whichever is higher
Failed or Rejected Transactions
₹50 per transaction
0.02% of the transaction charges subject to a minimum of ₹50 + NSDL/CDSL charges at actual
On certain occasions or on special requests, Upstox AMC charges for the first year can be waived off after opening a free demat account.
Upstox Free Demat Account Offer
Once you open a Free demat account on the Upstox, you can avail of several offers or benefits related to online trading.
Upstox is widely recognized for its trading platforms and advanced research. Also, Upstox is one of those stockbrokers who offer a 3-in-one account facility to its valuable customers.
In addition to the above, there are some other stellar features too that are offered by Upstox to its clients. These include the below-
The Brokerage charges in the Upstox are lower as compared to other stockbrokers. Thus, one can smoothly buy or sell stocks or shares by paying much lesser charges than the market average.
Undoubtedly, opening the Upstox Free Demat account is an advantage for the traders and investors who want to step in the Indian Financial World.
Since 2011 Upstox is in the Indian stock market and is delivering excellent outcomes to the traders and investors buying or selling stocks listed on India’s top exchanges such as NSE, BSE, and MCX.
Through Upstox, you can diversify your portfolio by trading in different segments like mutual funds, equity, commodity, currency, etc.
There are two different ways to open the Upstox free demat account – online and offline. In the online method, one visits Upstox’s official website and enters details, and submit documents to open a Demat account free of cost.
Contrary, in the offline method, the individual visits their local branch office along with the documents.
The Account opening is free of cost in the Upstox; however, the account holder is required to pay the Annual Maintenance charges, GST, Transaction tax, pledge creation, etc. but these charges are affordable to pay.
Opening a free Demat account with Upstox comes with various advantages such as extensive trading platforms, lower brokerage charges, customized plans, stocks in abundance, SEBI recognition, trading seminars, attractive margins, and much more!
So don’t wait for Upstox free demat days or for another Upstox free demat fest; just avail the offer and start trading!
If you still have doubts or questions like Is Upstox safe? Then, Yes. It is safe; however, the risk factor is your trading method.
Hence, follow our other articles to learn more about Stock market trading, its effective techniques, short term goals, and much more!
Willing to open a Demat Account, please refer to the below form