What is Upstox and why you should open an account, Upstox, upstox account, stock, demat, stock trading
You must have come across numerous brokerage firms offering a variety of benefits like no brokerage fees, zero maintenance charges, etc. These brokerage firms charge a minimal amount for account opening. You must be thinking about which one you should select to open an account. In this article, I will talk about Upstox and why you should open demat account in 2023.
After covid-19 pandemic, some of the stocks have given a 100% return on investment. However, there are few who have given 3 to 5 times the return on investment. To trade or invest in the stock, you should have a demat account.
Upstox is an online stock trading platform and one of the best trading apps in India. It has been bagged by top Indian investors like Mr. Ratan Tata and Tiger Global management.
Table of Contents
How to grow your wealth with Upstox
Upstox offers trading and investment in multiple segments
1. Stocks
2. IPOs
3. Mutual funds
4. Futures and options
Fees and charges
1. Rs 0 commission on investing in mutual funds and IPOs.
2. Rs 0 account maintenance
3. Rs 20 brokerage on equity, futures and options, commodity, and currency orders
4. Rs 249 as account opening charges
5. Rs 150 as annual maintenance charges
Account opening
For account opening you can provide a soft copy of your PAN card, Aadhar card, eKYC, and 6 months’ bank passbook record.
Note: the details on all the documents must be the same like name, address, etc. You can open the Upstox account using another PAN card. For that, you have to get their permission to use documents for account opening and eKYC.
Benefits you will get from Upstox demat account
1. Smart transfer feature
For trading or investing, you have to transfer money from your bank account to the demat account. You will earn interest on the unused amount. For example, if you have kept Rs 10,000 in your Upstox account and used Rs 2,000 to purchase the stocks. The remaining Rs 8000 (unused amount) will help you to earn interest just like the balance kept in your Bank saving account.
2. Refer and earn
You can earn money by sending a referral link to your friend. You will get the amount after your referred friend makes the first trade or investment. You can get up to Rs 1,200 for each referral.
The link to open an account is provided.
3. Multiple segments
You can invest or trade in multiple segments like equity, mutual funds, IPOs, futures and options, commodities, and currencies.
For more details, check the link.
How to check the upstox balance?
To check the balance, open the Upstox app. Go to “account” and check wallet balance. The screenshot is given below:
Frequently asked questions
1. Can we open demat account in Upstox when market closed?
Yes, you can open Upstox account when the market is closed.
2. How can I still hold my shares after closing Upstox account?
You have to transfer the shares to another demat account. For the transfer, you have to fill out the DIS (delivery instruction slip) and submit it to the current broker
3. Who can refer and earn through Upstox?
Anyone having Upstox account can refer and earn. It can be a student, private employee, government employee, self-employed, housewife, or retired.
4. After investing in mutual funds in Upstox why my MF portfolio is showing empty?
It takes a few days to reflect mutual funds in the portfolio. It is better to wait for 2 to 5 working days and then call customer care if you don’t see the mutual funds in the portfolio.
5. Does I will be charged if I didn’t complete my sign up process in Upstox?
You will be charged after the complete account opening process. In partial completion, you are not required to pay anything.
6. Where I can see my Upstox balance?
Open app on your smartphone, go to “account” and check the “wallet” option.
7. Where can I see my trading account number of upstox?
Open app. Go to “account”, select “account” option. then select “profile” and then “my contact details”.
Disclaimer: If you want to invest in the stock market, you should consult your financial advisor before making a buying decision. You should assess the risk and study the company details.
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