Introduction to Upstox
Upstox Securities Pvt. Ltd. is a leading brokerage firm in India, registered with the Securities and Exchange Board of India (SEBI). The company has a SEBI registration number of INZ000315837 and is a member of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with TM codes 13942 and 6155, respectively. Additionally, Upstox is registered with the Central Depository Services (India) Limited (CDSL) with a registration number of IN-DP-761-2024.
About Upstox
Upstox Securities Private Limited is a wholly-owned subsidiary of RKSV Securities India Private Limited, and RKSV Commodities India Private Limited is an associate of RKSV Securities India Private Limited. The company has its registered address at 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi – 110001, and a correspondence address at 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (West), Mumbai – 400013.
Contact Information
For any complaints or grievances, investors can email at complaints@upstox.com and complaints.mcx@upstox.com. The company also has a compliance officer, Mr. Kapil Jaikalyani, who can be contacted at (022) 24229920 or via email at compliance@upstox.com.
Filing a Complaint with SEBI
Investors can file a complaint with SEBI through the SCORES portal. To file a complaint, investors need to register on the SCORES portal and provide mandatory details such as name, PAN, address, mobile number, and email ID. This ensures effective communication and speedy redressal of grievances.
Benefits of Filing a Complaint with SEBI
Filing a complaint with SEBI through the SCORES portal has several benefits, including effective communication and speedy redressal of grievances. Investors can also track the status of their complaints online.
Risk Disclosure
Investing in the securities market involves risks, and investors should carefully read the risk disclosure document prescribed by SEBI before investing. The company also advises investors to read the terms of use and privacy policy carefully.
Risk Disclosures on Derivatives
The company provides risk disclosures on derivatives, which include the following:
- 9 out of 10 individual traders in equity Futures and Options Segment incur net losses.
- On average, loss makers register a net trading loss of close to ₹ 50,000.
- Loss makers expend an additional 28% of net trading losses as transaction costs.
- Those making net trading profits incur between 15% to 50% of such profits as transaction costs.
Mutual Funds
The company offers mutual funds, and investors can research and invest in top-rated funds. However, investors should read the offer documents carefully before investing, and the company shall not accept any liability arising out of their investments.
Important Information for Investors
Investors should note the following:
- No need to issue cheques while subscribing to IPO. Just write the bank account number and sign in the application form to authorize the bank to make payment in case of allotment.
- No worries for refund as the money remains in the investor’s account.
- Stockbrokers can accept securities as margin from their clients only by way of a pledge in the depository system w.e.f. 1st September 2020.
Preventing Unauthorised Transactions
Investors can prevent unauthorized transactions in their Demat account by updating their mobile number with their depository participant. They will receive alerts on their registered mobile number for debit and other important transactions in their Demat account directly from CDSL on the same day.
Important Advisory for Investors
Investors should read the advisory guidelines for investors as prescribed by the Exchange with reference to their circular dated 27th August 2021 regarding investor awareness and safeguarding client’s assets. They should also read the advisory as prescribed by the Exchange with reference to their circular dated January 14, 2022, regarding the updation of mandatory KYC fields by March 31, 2022.
Online Dispute Resolution Portal
SEBI has established an Online Dispute Resolution Portal (ODR Portal) for resolving disputes in the Indian Securities Market. This portal offers online conciliation and arbitration, benefiting investors and listed companies.
Conclusion
In conclusion, Upstox is a leading brokerage firm in India that provides a range of services to investors. The company is registered with SEBI and is a member of the NSE and BSE. Investors should carefully read the risk disclosure document and terms of use before investing, and they can file a complaint with SEBI through the SCORES portal. By following the guidelines and advisories provided by the company and SEBI, investors can make informed decisions and prevent unauthorized transactions in their accounts.
