Before you start reading, this could be life changing event in your life.
Upstox is India’s fastest growing discount stockbroker. Upstox allows us to invest in the share market at the lowest brokerage. We all know that there was a great effect on our economy after the Covid-19 breakout. The price of almost all the shares has come down to half and thus this is the right time to invest in the stock market.
However, investing is subjected to market risk, analyze the stocks properly before investing. Moreover, the Indian share market is regulated by SEBI thus investing in the share market is safer than going behind any binary trading platforms which are not regulated by any authority.
“The key to making money in stocks is not to get scared out of them.”Peter Lynch
Along with investing you can also refer and make money from Upstox. You can refer and earn Rs.500 (the value keeps changing every week, please check in app after creating account). You just have to create a demat account and start referring your friends.
Requirements to Open Demat account in Upstox
Here are the requirements to open an Upstox account.
- Aadhar Linked to Mobile Number.
- Pan Card
- Bank Account Details
- Signature on White Paper
Step by step procedure to create Demat account with Upstox
Step 1: Click on the below Sign up button and enter your email id and mobile number. Verify the OTP with mobile number.
Step 2: After verifying the OTP, Click on Signup as in the image below.
Step 3: Enter Pan card number and Date of Birth (as per in the pan card). Click on next. Check image below.
Step 4: Fill in the basic details asked.
- Select your Gender
- Select your marital status
- Select your annual income (You can select Below 1 Lakh or 1L – 5L, if you are not paying income tax)
- Select Trading Experience (Less than 1yr if you are new to investing)
- Are you politically exposed? (Select your choice, select no if you are not exposed by any political party)
- Select your occupation. (eg: student)
- Enter your father’s name as in PAN card.
- Is your Country of tax resident other than India? (Choose No if you don’t reside or pay tax in any other country)
- Click on the checkbox and click on next.
Step 5: Set up your account preference.
- Choose Segment to trade. (Must choose the first option ie, Equity, FO and Currency. The second option is optional, you can tick if it is in free offer period)
- Scrolling down you can select the basic plan.
- There will be an optional screen if there is any lucky draw offer running, simply click on yes and continue.
Step 6: Fill in bank details and upload identity proof.
- Fill in your bank account details
- Upload your signature (Sign on a white paper and upload)
- Income proof is not necessary as mentioned.
- Upload your address proof – Passport, Election ID, Driving Licence or Aadhar Card (You can choose any)
- Fill in the address as per the above document uploaded.
- Upload photo of PAN and Passport-size photo.
- Click on Next
Step 7: You will see the referral offer. You can skip it as of now. You can complete the procedure and come back to it later. (Referral amount changes often)
Step 8: Verify your email with OTP and select the account opening plan. (Free option will be available only in the offer period). Select and continue.
If there is no free option you can select the one-time charge 249, you will get brokerage credit of Rs400 with 30 days validity.
Note: The brokerage plans differs periodically, please select accordingly.
Step 9: There are two methods to complete the procedure. Online and Offline.
Select e-Sign with Aadhaar OTP option if your mobile number is connected with Aadhar. (Easy way)
If your mobile is not connected with aadhar, you can download and sign the form, thereafter you will have to courier the form.
Step 10: Finally, you need to record a 10 sec video holding the document you have uploaded. Hold the document near your face and show both front and backside. Upload, done!
How to refer and earn in Upstox?
Here are the steps to refer and earn from Upstox.
- After you have opened the account. (Following the above steps) Open the application and click on the Menu icon on the left top corner.
- Select the refer and earn option.
- Copy the link and send it to your friends. You will get the referral amount once they create the account successfully.
Note: The referral amount keeps changing periodically, please check in the app after creating account to know the exact value.