How to Open the Account with Upstox
RKSV offers you the option to open a Demat and trading account through online or offline methods.
In the online method, you need to have an Aadhaar Card and the linked mobile number to authenticate the application form. In case you do not have a mobile linked Aadhaar card then you can go for an offline account opening method.
In both cases you will need the following set of documents.
- PAN Card
- Aadhaar Card
- Specimen Signature
- Photographs
- Income proof (if you wish to trade in derivatives)
Step 1. Sign Up on RKSV (Upstox) Home Page
Click here to visit direct account opening page.
Step 2. Verify Your Mobile With OTP and Start Application
You need to provide your email address and mobile number. An OTP will be sent to your official mobile number to authenticate the mobile number.
Once authenticated, you can move to the next stage of the application process and provide the PAN number along with the date of birth, as shown above.
Step 3. Provide Personal Details
Next, you need to provide your personal information like marital status, yearly income and trading experience by clicking on the given options.
The process is fast because you are required to select one of the options provided rather than filling all the details.
Before you proceed ahead to read the taxpayer declaration and check on the declaration box. Click on the “Next” tab to proceed ahead with the application process.
Step 4. Select Your Trading Preferences
RKSV gives you the option to select the segment in which you want to trade. You can go for all the segments or either set one from the following.
- First Set – Equity, Equity F&O and Currency F&O
- Second Set – Commodity Trading
If you are new to stock market investing then you can go for the first set only.
Next, you also have the option to choose the brokerage plans. By default, the system selects the “Priority” brokerage plan. Which needs to be changed in case you want to go for the “Basic” brokerage plan.
The Basic Plan with Rs. 20 brokerage and 15x intraday margin are better suited for a new trader. Whereas, the Priority Plan is best for experienced traders who require higher (20x) leverage. The brokerage charges (Rs. 30 per trade) are also higher under the Priority Plan.
Step 5. Provide Bank Details
After selecting the plan, you need to provide your bank details like account number and the IFSC code of the bank branch.
Make sure that you are not adding a payment bank because RKSV does not open a trading account linked with payment banks like Paytm.
The bank details are required to link your trading account so that you can transfer funds online to your trading account. RKSV Securities does not share your bank account details and all transactions are encrypted for maximum security.
Step 6. Authenticate Application Using Aadhaar
Next, you will need to authenticate the online application using the OTP received on the linked mobile number.
In case, if you do not have an Aadhaar Card linked to your mobile number then you can use the offline demat application method.
Step 7. Upload the KYC Documents
Finally, you will be required to upload a copy of all the KYC documents along with the image of your signature and photographs.
This completes your application and the trading account will be opened in 24 to 48 hours time. RKSV will provide you with the trading account login ID and the password.