MUMBAI, February 28, 2019 /PRNewswire/ —
- Free Demat Fest by Upstox from 1st to 7th March, 2019
- Attractive opportunity for new investors to enter the stock market for FREE
- No brokerage while investing in the stock market with Upstox
- Quick, Hassle-free, and Paperless Demat Account Opening Process
Upstox (also known as RKSV Securities), the new-age online discount-broking firm backed by Mr. Ratan Tata, Kalaari Capital, and GVK Davix, is launching a Free Demat Fest from March 1st to March 7th, 2019. This fest will give first-time Indian investors an opportunity to create a Demat account and start investing in the share market, without paying any account opening charges. During the fest, users can visit Upstox.com and open a Free Demat Account within a few minutes by submitting their KYC documents, online. The process is completely paperless.
Upstox, a product first company, has been working towards making stock trading easy and affordable for all Indians. It has been the first in its category to make an otherwise tedious account opening process paperless and quick. This extended its reach to tech-savvy youngsters and tier 2 and 3 cities, where facilities were limited. Now with the ‘Free Demat Fest’ Upstox is removing the account opening fees: the last barricade that prevented aspiring share-market investors from entering the share market.
Talking about the objective behind organising the Free Demat Fest, Ravi Kumar, Co-Founder and CEO, Upstox says, “Even though the share market makes headlines everyday, less than 2% of the Indian population participates in trading. In other countries, the participation can be anywhere between 20-50%. Our larger objective is financial inclusion. So, we keep coming up with innovative solutions to make it possible. With paperless account opening facility, we tapped into India’s growing Internet penetration and empowered Indians to open a Demat account without stepping out of their homes. Now, with the Free Demat Fest, we are stepping up our endeavours to increase investor participation and helping potential investors make the best of this little-explored investment opportunity. We will continue to come up with innovative solutions like this.”
Giving insights about consumer behaviour Shrini Viswanath, Co-founder and CTO, Upstox, says that, “Costs and complexities involved in stock market participation have been some of the biggest deterrents for small investors. Statistics show that almost 30% of prospective clients do not end up investing in the stock market because they have to pay an upfront fee to open a demat account. Therefore, we are offering a Free Demat Account, so that users can take their first step into the stock market without any hesitation.“
Upstox’s ‘zero brokerage’ model, has been increasingly gaining popularity with retail investors as it facilitated mobile and online route of stock investing at almost zero cost. Even for seasoned intraday traders, Upstox charges a flat rate of Rs. 20 per trade, irrespective of the size of the order.
Upstox is one of the fastest growing discount broker in India. It has witnessed a five-fold increase in its total client-base. Its pan-India client base increased from 25,000 to 1,60,000 between 2016 to present. Upstox’s notional contribution to exchanges is around Rs. 20,000 crores.
About Upstox
Upstox (registered as RKSV Securities India Pvt. Ltd.) entered the retail brokerage market in 2012. With backing from Mr. Ratan Tata and venture capitalists such as Kalaari Capital and GVK Davix, Upstox has been revolutionising the concept of discount broking in India and pushing the limits of digital financial investing with innovative technology, intuitive user experience and unbeatable pricing.
The unique global-Indian model of Upstox is strongly reflective of the Indo-American antecedents of its co-founders, who implement their knowledge and experience of working in both the Indian and US financial markets and the Silicon Valley in making Upstox a strong and pioneering force in the industry.
Upstox ensures that its clients reap the benefits of a high-tech online trading platform and best-in-class services every step of the way-from the time they open an account to executing trades and beyond. Upstox is driven by its guiding principle of making trading in stock markets simple and affordable for all. It was among the first in its category to introduce commission-free trading. It has also ensured full transparency in pricing by offering ‘zero’ brokerage on equity delivery trades and a flat rate of Rs. 20 per intraday order for all other segments.
Upstox today ranks among India’s high-growth online brokerage firms and is a leading volume contributor to the country’s top equity and commodity exchanges.
