If you remain tuned in to your television for watching the Indian Premier League (IPL), you might’ve probably come across ads showing a teenage boy finding it difficult to perform exercises, but finding it easy to buy/sell stocks in a fraction of seconds on an app, that’s Upstox advertising. Another ad features a girl fearing to climb the elevator but invests in mutual funds and stocks at her fingertips.
Upstox is an Indian discount brokerage firm offering services to invest in stocks, mutual funds, and gold. The firm has a client base of more than 5 lakh users. The brokerage firm runs its ads to capture the attention of the masses as they tune in to watch the famous cricket league. So anytime in the future, if you plan to open a demat account, Upstox will be at the back of your mind, whether you know it or not! This is because it would’ve become a familiar name to your mind.
In this article, we’ll provide reviews about Upstox. But before that, let’s understand some important terminologies such as UCC ID and DP ID.
What is UCC ID in Upstox?
Just like a PAN number is a unique identification number for a taxpayer, be it an individual, firm, or a trust. UCC ID is a unique ID for each user which is linked to his/her demat account. The abbreviation ‘UCC’ stands for Unique Client Code. It is a numeric or alphanumeric code. In the case of Upstox, it is a six-digit number that is assigned at the time of account opening. It is a regulation by the Securities and Exchange Board of India (SEBI) to map each client’s UCC ID to his/her demat account. In simple terms, it can be thought of as a unique serial number provided to each client so that identification becomes easy.
How to find UCC ID in Upstox?
Once you have provided the necessary details and filled the application form for opening a demat account with Upstox, the login details will be provided to you by 48 hours of the same. It will also contain your UCC ID. Along with this, the login details including the ID will also be sent to your registered email address. If you still do not receive it within the stipulated time, you can contact the Upstox support team. It is important to note that UCC ID, Client ID, User ID is all the same.
How to find Upstox DP ID?
There are two depository participants in India, namely, National Services Depository Limited (NSDL) and Central Depository Services Limited (CDSL), and Upstox is a member of both. So based on which depository participant you have your ID with, your DP ID could differ. The steps to find DP ID on Upstox are as follows:
- Visit www.upstox.com
- Click on ‘Sign-in’.
- Login to the dashboard.
- Click your name in the top right.
- Click ‘My profile’.
There you will see the following details:
- Name: XYZ
- Type: CDSL
- DP ID: 64800791
- Account Number: 81365874
What makes Upstox a Best Choice?
- Special offers like brokerage credit
- Flat Rs 20 per trade for intraday
- Zero brokerage on Delivery
- Provide advanced technology trading platforms
You can save upto 90% on brokerage charges with Upstox. You can save huge money on your brokerage as compared to the other service providers.
Let’s assume you do minimum monthly trading of 10,00,000 rupees with 10 trades (20 if we include buying & selling side)
Comparison of Upstox trading brokerage with ICICI Securities that charges 0.275% (0.55% if we include both buying and selling)
10,00,000 * 12 months * 0.55% = Rs. 66,000
Comparison of Upstox trading brokerage with Sharekhan that charges 0.10 % (0.2% total on buying and selling)
10,00,000 * 12 months * 0.2% = Rs. 24,000
Trading brokerage with Upstox that charges Rs. 20 per trade.
20 trades per month * 12 months * 20 Rs. brokerage = Rs. 4,800 only. (Saving of upto 90% on brokerage)
As can be observed, Upstox is an emerging discount brokerage firm in India. The firm is on an advertising spree and spending aggressively on it to make a stand among its rivals. UCC ID in simple terms refers to a unique identification number given to each client who opens a demat account with a broker. It is a mandate by the SEBI. In the case of Upstox, UCC ID is a six-digit number. It is sent to the user through email within 48 hours of completing the necessary documentation. UCC ID is important in the sense that it helps avoid confusion and helps in the identification of clients. The DP ID in Upstox can be found by visiting your profile. So the next time you think of opening a demat account, Upstox would have already booked a place in your subconscious mind!