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How to Use Upstox without a Phone Number?

How to Use Upstox without a Phone Number

You don’t want to use your personal phone number to open up an Upstox account, but you’re still interested in investing in valuable assets of Indian companies through this local brokerage platform?

What can you do in this case, and what are the nuances? In this article, we’ll tell you how to register on the platform using a virtual phone number. But first let’s figure out what useful functions the platform offers to traders and investors.

Upstox

What is Upstox?

It’s the second largest and fast-growing Indian-based brokerage service for investing and trading after Zerodha. Investment tools include stocks, futures, options, commodities, mutual funds, ETFs, and many more.

The company is a participant of SEBI (Securities and Exchange Board of India), so the majority of traders in the community consider it a safe and reliable platform.

Unlike its main competitor Zerodha, it requires no brokerage fee at all on Usptox. An Upstox account owner only pays an annual commission for account maintenance. Moreover, Upstox operates 100% online but a head office without a need to maintain other physical branches. This is often a reason why exchanges charge higher brokerage commissions.

What is Upstox?

How to Use Upstox — Accounts, Types of Securities & Features

  • Accounts. To start investing in Upstox, you need to open two accounts in one: a trading account and a so called demat account (the second one allows you to safely hold securities in a virtual area). Also, since Upstox has partnered with IndusInd Bank of India, you can connect your Usptox profile to your bank account. This will allow you to receive interest to your bank account from the money that you spend while trading.
  • Mutual funds — no commissions investments. You don’t need to login a web version to invest in mutual funds, since it’s possible to do through the app. There are 2000+ funds available. Moreover, the app provides detailed information about each fund: return on investment, minimum required investment, expense ratio, fund unit, NAV, etc. In addition, there is a helpful and ease to use fund filter and charting tools that allow Upstox account owners to evaluate potential profits before investing.
  • Stocks. After opening a free demat account, you will be able to invest in shares. Moreover, right in the app, you can examine each company’s financial situation, track market reports, and check the latest stock updates.
  • Futures and options. To invest in these assets, Upstox account holders can choose any of 7 ready-made strategies, including long straddle, short straddle, long call, and other options. The in-built profit and loss chart allows investors to estimate the approximate ratio.
  • Indices. These stock market share indices is a tool for prediction the potential direction of the market, assess overall changes and in individual segments. The application offers basic/industry/thematic categories. A variety of charting and analytics tools are also available for traders and investors.
  • IPO. Moreover, Upstox account owners are allowed to apply for an IPO of a company — through the Indian UPI (United Payment Interface). To do this, they have to to first configure UPI. After that, attach their bank account, PAN, and Adhaar to the application.

What is Upstox Pro Web?

Pro Web is a separate platform on Upstox with advanced tools for traders with professional experience only.

It offers the built-in following functions:

  • Charting tools, indicators, algorithmic trading software and tools, heat maps, and other tools.
  • News to track changing stock market trends — and the investment solutions based on these changes.
  • Ability to place bracket and cover orders.
  • More than 100 indicators that you can customize as desired.

There’s also an autonomous mobile version of the service called Pro Mobile.

What is Upstox Uplearn?

It’s the Upstox’s training service for those who want to learn investment and trading basics, explore various instruments, handling personal finances, etc. It’s absolutely free, no registration required.

Upstox Account Verification

Since the brokerage service provides financial services, by law the platform requires confirming user’s identity when registering, meaning you will gain access to the platform only after verification.

For that, among other proofs, you will need to give the platform POI such as scans of your PAN card, Aadhar card, passport, voted ID or other options. Next, enter your Aadhar card details and an OTP code that you will receive to the phone number attached to your Aadhar to get verified.

Moreover, to create Upstox account, along with other personal data, the platform also asks providing a phone number. But what’s nice, it may be not the same mobile phone number that is connected to your Aadhar.

If you do not wish to use your personal phone number to register an Upstox account, you can consider virtual phone numbers for this purpose. They are much cheaper and much easier to get rather than buying a second SIM card. Purchasing such a virtual phone number and receiving a verification code through the SMS-Man platform will take 10–15 minutes and cost you less than $1.

virtual phone number from sms man

In addition to Upstox login opportunity, such temporary virtual numbers are a working method to:

  • Set up multiple accounts on social media for promotion or other purposes.
  • Open a new account if your previous one got banned — and if it requires a unique phone number for registration.
  • Get access to a service or platform if it restricts users from your area or accepts only local phone numbers.

How to Create Upstox Account without a Phone Number?

SMS-Man has been providing temporary virtual phone numbers from over 180 countries, enabling users to pass registration and verification procedures in over 1000 global platforms and applications.

You can choose a number for single usage or rent it for a longer period of up to 3 months.

So, how can you obtain a virtual number for Upstox login through SMS-Man? Here are the guidelines:

  1. Register an account at sms-man.com via email or Google+ verified account.
  2. Deposit funds to the balance — you can see the button «Top Up» in the top right corner of the homepage.
  3. Open the tab «Receive SMS», select the desired country and find «Upstox» in the service search bar. Click «Buy SMS».
  4. Copy the purchased number from the «History» section below and use it to set up an Upstox account.
  5. After that, return to your SMS-Man profile and click «Receive SMS» near the phone number.
  6. Wait for the code to come and complete registration.

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