How To Delete Upstox Account – Do you want to learn how to delete the Upstox account? I want to assure you that you have finally found what you were looking for, as we have carefully provided you with a guide on how to remove it.
However, Upstox allows you to trade stocks online at a low level of the brokerage with India’s leading discount broker. Also, we may not know the exact reason why you want to deactivate, cancel or even delete your Upstox account.
If it is the result of spam, we recommend that you mark the email as spam while opening your email or you can unsubscribe from their newsletter by clicking the unsubscribe button at the bottom of the mail you got.
However, if you no longer find the Upstox account interesting and want to delete it, in this post we have provided complete steps to guide you on how to delete your account. All you have to do is carefully follow these simple steps outlined below.
How To Delete Upstox Account?
To close or your upstox account, follow these simple steps.
1. Go to Upstox’s official website.
2. In the top menu, go to support -> to forms.
3. You can find the demat closure form in the account modification section there.
4. Download it and print.
5. Fill it with your details and sign.
6. Send it by post or courier to the correspondence address mentioned at top of the form.
Your Upstox account will be closed within a few days. If you didn’t get any confirmation even after a week from Upstox, follow up with customer service.
There isn’t any charge for closing upstox account. But you cant close upstox account using the online procedure. Offline mode is only available now.
Why delete Upstox Account?
The following are the cons of Upstox. Check the list of Upstox drawbacks.
- Good Till Cancelled (GTC) and Good Till Date/Time (GTD) Orders are not possible in the Equity Segment. GTC/GTD orders are available in commodity trading.
- Margin Funding is not available on delivery trades. Higher leverage is obtainable in the Upstox Priority Pack account.
- Upstox doesn’t offer unlimited monthly trading plans.
- Call and trade fee is charged at an extra ₹20 per executed order (₹20 Brokerage + ₹20 Call & Trade Fee).
- Additional ₹20 per achieved order is charged for Intraday square MIS/BO/CO orders when they are not square off by the client.
- Brokerage free trading is available only in the Equity Delivery segment (in Upstox Basic plan).
- For all other segments involving Equity F&O, Commodity F&O, and Currency Derivative, the brokerage is charged at ₹20 or lower per trade.
- In Upstox’s basic plan, though brokerage is free, consumers still have to pay the Demat
- Transaction Charges. Upstox Demat debit transaction charges (₹21.83) are important than other discount brokers who charge a fee of ₹15.93 per Demat debit transaction.
- Doesn’t provide stock tips or recommendations.
- 3-in-1 accounts are not ready as the company doesn’t give banking services.
- 24/7 customer service is not available.
- Upstox NRI Trading and Demat account are no more convenient (since Jan 2018).
- Upstox doesn’t offer API access for automated trading.