How to Use Upstox without a Phone Number

Posted on 09/11/24 04:15 am

Using Upstox Without a Personal Phone Number

Want to open an Upstox account without using your personal phone number, yet still be able to invest in Indian companies? Here’s how you can register on Upstox using a virtual phone number. First, let’s explore some of the platform’s key features for traders and investors.

What is Upstox?

Upstox is the second-largest brokerage service in India, following Zerodha. It offers investment tools for stocks, futures, options, commodities, mutual funds, ETFs, and more. As a member of SEBI (Securities and Exchange Board of India), Upstox is regarded as a secure and reliable trading platform.

Unlike its competitor Zerodha, Upstox does not charge a brokerage fee; instead, account holders pay an annual account maintenance fee. This online platform, managed through a single head office without physical branches, allows Upstox to keep its brokerage costs low.

How to Use Upstox — Accounts, Securities, & Features

Accounts: To start investing, users must open a trading account and a demat account (to hold securities digitally). Upstox partners with IndusInd Bank, allowing users to connect their bank accounts to receive interest on funds used for trading.
Mutual Funds: Users can invest in 2000+ funds directly through the app, which offers detailed information on each fund, such as return on investment and expense ratio. The app includes fund filters and charting tools to help users evaluate potential gains.
Stocks: A free demat account lets users invest in shares, access financial data on listed companies, monitor market reports, and track the latest stock updates.
Futures and Options: Upstox provides ready-made strategies like long straddle, short straddle, and long call, along with a profit and loss chart to help investors estimate potential gains.
Indices: Upstox’s index tools help users analyze market trends and assess changes by category. A variety of analytics tools are available to guide trading decisions.
IPO Access: Account holders can apply for IPOs through the Indian UPI (Unified Payments Interface). Users must link their bank account, PAN, and Aadhar number to Upstox to proceed.

Upstox Pro Web and Pro Mobile

Pro Web is an advanced platform within Upstox for experienced traders, offering tools like algorithmic trading software, heat maps, bracket and cover orders, and over 100 customizable indicators. Pro Mobile is a mobile version providing similar functionalities on the go.

Upstox Uplearn

Upstox Uplearn is a free, registration-free educational resource for those looking to learn the basics of investing, trading, and personal finance management.

Upstox Account Verification

Since Upstox offers financial services, users must complete identity verification, which includes submitting proof of identity (such as a PAN card, Aadhar card, or passport). Verification requires entering an OTP sent to the phone number linked to the user’s Aadhar.

While Upstox requires a phone number during registration, it does not need to match the Aadhar-linked number. If you prefer not to use your personal number, a virtual phone number is an affordable and secure alternative.

Why Use Virtual Phone Numbers?

Virtual phone numbers allow users to protect their main number, avoiding spam and marketing calls. With a virtual number from SMSOTPVERIFY, users can register on Upstox without needing a second SIM card. The process of purchasing a virtual number and receiving a verification code takes about 10-15 minutes and costs less than $1.

Benefits of virtual numbers for Upstox:

Allows multiple accounts for social media promotions or other purposes.
Bypasses regional restrictions or platform limitations on foreign numbers.
Reopens accounts that may have been blocked or restricted.

How to Create an Upstox Account Using a Virtual Number from SMSOTPVERIFY

SMSOTPVERIFYoffers virtual phone numbers from over 180 countries, which can be used to verify accounts on more than 1000 global platforms. You can rent a number for short or long-term use (up to three months).

Here’s how to use SMSOTPVERIFY to register on Upstox:

Register an account on SMSOTPVERIFY.
Click on "Top Up" to add funds.
Go to the "Receive SMS" tab, choose a country, and select "Upstox" from the service options. Click "Buy SMS" to purchase a virtual phone number.
Copy the purchased number from the "History" section.
Enter this virtual number on Upstox during registration.
Return to SMSOTPVERIFY, select "Receive SMS" next to your number, and retrieve the OTP sent by Upstox.
Complete your Upstox registration by entering the OTP.

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