How to Open an Upstox Demat Account

Opening a Demat account with Upstox is a streamlined process that allows you to start investing in the stock market quickly and efficiently. Upstox, a leading discount brokerage firm in India, offers a user-friendly platform with competitive pricing, making it an attractive choice for both new and experienced investors. Here's a step-by-step guide to help you open your Upstox Demat account.

 Step 1: Visit the Upstox Website

Begin by navigating to the Upstox official website (www.upstox.com). On the homepage, you will find an option to 'Open an Account.' Click on this link to start the process.

 Step 2: Sign Up with Your Mobile Number and Email

You will be prompted to enter your mobile number and email address. Ensure these details are correct as Upstox will send verification codes to both. After entering the information, click on 'Send OTP.' Enter the OTPs received on your mobile and email to verify your identity.

 Step 3: Provide Basic Details

Next, you will need to fill in your basic details, including your name, date of birth, and PAN number. Ensure that the information matches your official documents to avoid any verification issues later.

Step 4: Upload Documents

You will need to upload scanned copies or clear photographs of the following documents:

-PAN Card: This is mandatory for identity verification.

-Aadhaar Card: For address proof and further KYC verification.

Bank Proof: A cancelled cheque, bank statement, or passbook copy to link your bank account with your Demat account.

Photograph: A recent passport-sized photograph.

Upstox may also require additional documents such as income proof if you plan to trade in derivatives.

 Step 5: Complete the IPV (In-Person Verification)

Due to regulatory requirements, an In-Person Verification (IPV) is necessary. Upstox offers an easy way to complete this through a video call. You will need a device with a camera and internet connection. During the video call, you will be asked to display your PAN card and perform a short verification process.

 Step 6: E-Sign the Application

Once your documents are verified, you need to electronically sign the application form. This is done using your Aadhaar number and the OTP sent to your registered mobile number. This step is crucial as it finalizes your application.

Step 7: Account Activation

After completing the e-sign process, your application will be reviewed by the Upstox team. This usually takes a few hours to a couple of days. Once approved, you will receive a confirmation email with your Demat account details.

 Additional Tips

Check for Promotions Upstox often runs promotional offers for new customers. Check the website for any discounts on account opening charges or brokerage fees.

Customer Support: If you face any issues during the process, Upstox offers robust customer support through chat, email, and phone.

Mobile App: Download the Upstox Pro mobile app to start trading as soon as your account is active. The app is available on both Android and iOS platforms.

 Conclusion

Opening a Demat account with Upstox is a straightforward process that can be completed entirely online. With a few documents and simple verification steps, you can start your journey into the world of stock trading and investments. Upstox’s competitive pricing and advanced trading platforms make it an excellent choice for anyone looking to invest in the stock market.