Upstox is an leading discount broker for sharing trading online. Upstox offers equity trading, derivatives trading, futures and options trading and currency trading services.
What are the documents required to open a trading and demat account on Upstox Online?
Please find the below list of documents to keep in handy when you are opening a trading and demat account in Upstox. The below list of documents mentioned are only for resident or Indian Individual Account.
- Scan copy of the PAN Card.
- Scan copy of Aadhar Card.
- Mobile Number which linked with your Aadhar Card.( Mandatory for validation of your Aadhar for online process of opening account)You must have an active mobile number linked with your Aadhar Card for e-sign/DigiLocker process which would require OTP for verification.
- Cancelled cheque Or Bank Statement or Passbook Front Page for linking your bank account. Cheque submitted should have your name mentioned on it. The Bank Statement submitted should have MICR code, IFSC code, account number printed on it.
- Photo or scanned copy of your signature for uploading in to the portal. ( Please use pen for signing on a blank paper.
- Income Proof ( Optional) Required if you would like to trade in Future and Options: Equity, Commodity and Currency.
Documents accepted as Income Proof are Form 16, IT Returns, 6 Month Bank Statement, Latest Salary Slip, Net worth certificate from a CA.
Step by Step process for opening an account in Upstox
Visit Upstox.com and click on ‘Create Account” to start the process of opening an account. Enter your Email Address and Mobile number and click on Send OTP to proceed.
Enter the OTP which has been received on your mobile number. Click on Sign Up to continue with the account opening.
Now you should enter your PAN number and Date of Birth and click NEXT to continue.
In the next screen, enter your details such as gender, marital status, annual income, trading experience, occupation, politically exposed, and country of residence.
In this screen, you need to accept the Taxpayer Declaration and click Next to continue.
In the this screen, You can select your trading preferences. You can select Equity Or Future and Options : Currency or Commodity trading or you can select all the options for trading, after selecting the trading preferences. You can select different plans which offer different leverages to trade in. Click Next to continue.
In this step, you need to enter your bank account details which will be linked to your demat account. Click Next to Continue.
In this step, you need to upload your documents such as signature and income proof. Make sure that your sign in visible and clear. Income proof is optional and you need to upload the income proof if you would like to trade in Future & Options and Currencies. Once the documents are uploaded click Next to continue.
Now start the process of Aadhar verification. Click on ‘Connect to Digilocker’ to provide the access to your digital copy of Aadhar card. Digilocker is an initiative by the Government of India to save your essential documents on the cloud. It is linked with your Aadhaar card and thus provides complete security.
Now you need to log in to DigiLocker account using your Aadhar or Username and Mobile Number. If you have not created an account in DigiLocker Earlier, you will need to follow the process to open a account in DigiLocker. Make sure that your mobile number which is linked to your Aadhar card is active for receiving an OTP for verification.
Once you have entered the Aadhar number, you will receive an OTP for verification. Enter the OTP received on your mobile number for verification and click continue.
Provide the access of Digilocker to Upstox by clicking ‘Allow’. Upstox would be able to automatically fetch your Aadhar details.
In this step, you need to upload your picture with clear background and also share your location. Click Next to Continue.
Select Free Demat and Trading account and Click continue to proceed.
If your mobile number is linked with your Aadhar Card, select Yes and click continue to proceed.
Check the declaration box and click on Proceed to eSign to continue to the next step.
Click on E-sign to continue further
Again enter your Aadhar Card details and select NSDL 2.1 and click sext to continue
Now click on e-sign with depository and input your Aadhar Card Details and click on verify OTP to continue.
Congratulations, Your Upstox account has been created. Now, you can download your e-signed documents by clicking the link
Now for opening your account it takes 1 – 2 days. You can check the status of your application on Upstox. Once your account has been successfully created you will receive an email with login credentials in an welcome mail from Upstox.