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How to open a free Demat Account ? [upstox]

Posted by electroadmin on 26 April 2020, 2:18 pm
How to open a free Demat Account in upstox

Here we are explaining step by step procedure to open a free demat account cum trading account. Here we are using an online discount broker called Upstox, Click here to open an upstox Demat Account . If you want to learn stock market, we have been preparing a tutorial click here to open.

Contents

  • 1 Why upstox to open a free Demat Account ?
    • 1.1 Charges of Upstox
      • 1.1.1 Commission of Upstax – trade free
  • 2 Step by Step procedure to open Demat account – Upstox
      • 2.0.1 Step 1 _ Sign Up
      • 2.0.2 Step 2 _ Fill PAN card details
      • 2.0.3 Step 3 _ Select trading segments
      • 2.0.4 Step 4 _ Payment
      • 2.0.5 Step 5 _ Choose a plan
      • 2.0.6 Step 6 – Documents Required
      • 2.0.7 Step 7 – Create IPV Video
    • 2.1 Comments

Why upstox to open a free Demat Account ?

Before starting a step by step procedure, let me answer the question in your mind. why upstox to open a demat account? You can open a Demat account through bank brokers or full time brokers or discount broker. upstox is a discount broker, we are choosing a discount broker. because the commission and charges for bank and full time brokers are very high.

There are a number of discount brokers. Then why i choose upstox? Its purely because of the service which they provide. As a beginner you may have a lot of doubts. you can easily approach them through online chat or phone call to clear your doubts. Moreover they provide an assistant how knows your regional language, So that you can easily communicate. An Indian business tycoon Ratan Tata invested in upstox, which shows its reliability.

Charges of Upstox

you can freely start a demat account in upstox. But sometimes they charge an initial charge of 250. But it is actually not an amount to start a demat account. It is an annual maintenance charge of upstox. Even if you started a demat account freely, you have to pay that 250 Rs with in an year.

Commission of Upstax – trade free

If you are purchasing a stock for a long time called Delivery trade, there will not be any commission. You can do the trade with free of cost. But if you are purchasing a stock in Intraday trade, they will charge 20 Rs per trade or 0.5 % of total trading amount.

Step by Step procedure to open Demat account – Upstox

Step 1 _ Sign Up

Click here to sign up Upstox using mail id and phone number

Step 2 _ Fill PAN card details

After you have signed up on upstox. you will need to fill in the details like your PAN number and your personal and other details.

Step 3 _ Select trading segments

pick your trading segments based on your choice. Try to select all the option, which will not cost. We will learn about equities and derivatives.

sign up upstox

Step 4 _ Payment

Now complete the payment. you can pay via two gateways Paytm or racer pay. With Paytm you pay on their own gateway. if you choose racer pay it gives you four ways to make a payment, such us netbanking, card, wallet, upi.

Upstox payment through Razorpay and paytm

Step 5 _ Choose a plan

Now choose a plan. you will have two choices as shown in the below picture. They are Basic and priority. As a beginner you can choose basic and it can be changed at any point of time in the future. If you choose basic then you have to 20 Rs in intraday trade as a commission. But you will get a 20 times leverage. That is if you have 1000 rs to purchase share in intraday trade, then upstox will allow you to purchase share costs 20,000 Rs. that is 20 times of your investment.

If you choose priority then you have to 30 Rs in intraday trade as a commission. But you will get a 30 times leverage. That is if you have 1000 rs to purchase share in intraday trade, then upstox will allow you to purchase share costs 30,000 Rs. that is 30 times of your investment.

How to open a free Demat Account in upstox

Step 6 – Documents Required

Take a clear picture of your documents. you can also download your bank proof through internet banking website of your bank. Upload all this documents.

Step 7 – Create IPV Video

Finally you have to create an IPV video. There you can find a sample IPV video using that video you can easily create an In Person Verification

How to create IPV video in upstox

And that’s it. Now you will get your Demat account cum trading account with in 48 hours (working Hours) and enjoy trading. To learn trading strategies follow Learn stock market Tutorial.

Click Here to Start a Demat & Trading account through the online broker – upstox

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