Upstox is one of the most renowned names in the Indian share market. It is popular for the special discount brokerage offer. Currently, the discount brokerage company is offering a special account opening offer which will be the centre point of today’s article. Here, you will get full details on Free Demat and Trading Account Opening in 5 Minutes.
Free Demat and Trading Account Opening
Finally, a special offer is going on Upstox. Anyone can easily open Demat and Trading account absolutely FREE of Cost. Overall, one just needs to submit the required and necessary documents to open an account.
Without the offer, generally, the account opening charges are
- Rs.150 for all NSE and BSE segments
- Rs.150 for all MCX.
- The annual maintenance charge of Rs.150 is applicable only on the demat accounts but not on the trading accounts.
- An additional Rs. 100 will be charged to process physical account opening forms which are sent to the Upstox mailing address.
- With Upstox, once you open a demat account you automatically open a trading account when you choose the segments you wish to trade.
Validity of the Free Account Opening Offer
The FREE ACCOUNT OPENING offer is applicable only for 2 days Now, so grab your offer first.
Mandatory Documents
- PAN number,
- Photo,
- DOB
- Aadhaar card,
- Cancelled cheque
- Bank statement
These are some of the important documents one needs to submit to open an account.
Other Process of Opening the Demat Account
If your Aadhaar Card is not linked to the phone number, then you’ll have to fill out the Demat account opening form in order to open an account with Upstox. Just print, fill out, sign and send us the paper KYC forms via courier to the office address. Also, ensure that you attach the cheque for the account that you wish to open.
Rules for NRIs
If you are an NRI (Non-Residential Indian), the account opening process and brokerage charges are totally different from that of a regular resident of India.
FAQ
No, opening a trading account on Zerodha is not free of charge. The costs associated with the account are account opening charges, transaction fees and GST that you will pay against every trade.
Upstox offers quality services and features at nominal rates. It charges a very low cost for services like equity delivery or intraday trading. You can open an online account free during promotional periods or regular times by paying the account opening charges plus the annual maintenance charges (AMC).
Many leading companies offer a totally free Lifetime Demat Account such as Angel Broking, 5Paisa, Motilal Oswal Financial Services etc. Many of these companies do not levy any Annual Maintenance Charges (AMC) or one-time registration fee on opening the Demat & Trading Account but they may collect some nominal commissions/brokerage fees per trade done through them.
No, it is not absolutely free to open your demat and trading accounts with Zerodha. Zerodha charges a one-time fee of Rs 200 for an online equity trading account and Rs 100 for an online commodity a/c.
Conclusion
Overall, opening a free demat and trading account with Upstox is an easy decision for anyone wanting to start investing. With just a few documents required and no other committed charges incurred on the investors, it can be said that these accounts are cost-effective as well as beneficial for newbies. Additionally, such platforms provide useful features and offer that work in your favour when making investment decisions. All of this makes it the perfect choice for those who wish to learn how stock markets operate without taking crazy financial risks!
