Can a Student Open Trading And Demat Account in Upstox? Yes, If you are a student you can open trading and demat account in Upstox free of cost. Note here that your age should be above 18 years. Upstox is a discount broker, a students above 18 years of age can open an account on Upstox.
How Can a Student Open an Account on Upstox?
Opening an account in Upstox is a very simple process. In which you need Aadhaar card, Pan card, Bank Statement PDF, Mobile Number and Email I\’d.
Firstly, download the latest version of the Upstox application by clicking on the link given here.
After downloading the application, verify through Email and Mobile Number.
- Now sign up and write the Pan Card number and Date of Birth.
- Enter your basic information according to your Pan Card and move to next step.
- Now, do the digital signature and then verify the Aadhar Card through OTP, which is a very easy process.
- It\’s time to take your live photo, for which your background should be white, and your face should look clean so that your application gets approved faster.
- Now you have to write your bank details in which you have to write your Account Number, IFSC, Bank Name etc.
If you want to trade in the segment like Future & Option, Commodity, Currency etc. then click on Yes to activate it.
There are three ways to activate this segment in which one has to upload any document from a Six Month Bank statement, Salary Slip, and ITR.
Now the last step, It has to be signed with the help of Aadhar Card. Now your application will be reviewed within 48 to 72 hours and username and password will be sent to your Email.
If you want to trade in options then you must read this article, Is Upstox Application Good for Option Trading.
Can Students Invest in Upstox?
Yes, Upstox is good and has a user-friendly system. In which any student can invest but his age should be more than 18 years. Upstox is a discount broker. So, for the student, it also protects the brokerage charges.
Is Upstox Good For Students?
Yes, There is no doubt that Upstox is good for students.
Upstox has no AMC (Annual Maintenance Charges), Zero Demat Account Opening Charges, Cheap Brokerage, User Friendly System, All types of trading can be done in it, Customer Support is also available, Brokerage Calculator available. For all these reasons Upstox can be said to be good for students.
Is Upstox safe for students?
Yes, Upstox is safe for students and all users. Upstox was launched in 2009 by Ravi Kumar and Raghu Kumar. It has been operating since 2009 so we can trust it. Any broker has to get many licenses so that all kinds of parameters are checked. Only then can he work as a broker.
Is There Any Income Proof Required to Open an Account in Upstox?
No, Upstox don\’t want any kind of income proof to open the account.
If you want to enable segments like Commodity, Currancy, F&O etc. then you have to upload one of the three Salary Slip, Bank Statement or ITR. No income proof is required to open an account in Upstox.
What Are The Charges for trading in Upstox?
Different types of trading have different charges which you can easily understand from the table below.
| Segment | Charges |
|---|---|
| Equity Delivery | ₹20 or 2.5% Whichever is lower |
| Equity Intraday | ₹20 or 2.5% Whichever is lower |
| Equity Option | Flat ₹20 per executed order |
| Equity Future | ₹20 or 2.5% Whichever is lower |
| Commodity Option | Flat ₹20 per executed order |
| Commodity Future | ₹20 or 2.5% Whichever is lower |
| Currency Option | Flat ₹20 per executed order |
| Currency Future | ₹20 or 2.5% Whichever is lower |
| Auto Square off Charge | ₹50 + 18% GST |
Conclusion
Here we get answers to questions related to Upstox. By which the students or anyone would have got complete information about the Upstox. In the above article, we have discussed in detail how to open an account in Upstox, what to keep in mind and what questions a student may have.
FAQs
(1) Can a student with no income open a Demat account?
Yes, There are no income proof required for opening demat account.
(2) What is the minimum age for trading?
Minimum 18 years required.
(3) Does Upstox provide both Demat and trading account?
Yes, Upstox provide both Demat and Trading account
