Upstox Commodity Trading Account

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Upstox Commodity Trading

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When you opt Upstox as your discount broker, then Upstox offers you a number of commodities to trade-in. After opening a online commodity account with Upstox, you are allowed to trade in commodities such as gold, silver, crude oil, copper etc. Upstox commodity account opening charges are Rs. 150 for MCX. There are Rs. 0 maintenance charges annually for the commodity account.

Upstox commodity account is a rightful commodity trading account for the rational investors who want to pay less brokerage to the commodity brokers. The scope of the Upstox is immensely wide and offers trading on various segments namely equities, commodities, and currency etc. These plethora of segments are prudently managed via Upstox app, i.e., Upstox Pro Web and Upstox Pro Mobile trading platforms.

Upstox Commodity Brokerage Charges

    Upstox offers commodity futures and options for the trading to its investors. Below mentioned are the Upstox commodity charges to be paid by investors if they want to trade in the commodity segment:

    • Commodity Futures - Rs. 20 per executed order or 0.05% (whichever is lower).
    • Commodity Options - Flat Rs. 20 per executed order.

Upstox Commodity Account Opening Process

There are two ways via which you can open Upstox Commodity Account. Below are mentioned both of the processes:

  1. Online Account Opening Method
    • Go to the official Upstox website and get yourself registered.
    • Furnish your basic details, such as name, DOB etc., and click Sign Up.
    • Upload the scanned copies of your government documents (Aadhaar Card, and PAN Card, etc).
    • Lastly, fill the details of your Aadhar Card on the portal to receive the OTP on your mobile linked to your Aadhar Card. After this, your commodity account with Upstox is opened.
  2. Offline Account Opening Method
    • Go to the official Upstox website and get yourself registered.
    • You can download, print and fill out the Upstox commodity account opening form link.
    • Attach all the required scanned documents along with the form.
    • After that, you have to sign an agreement with your broker.
    • You will get your account number for your commodity account with Upstox and you can easily initiate your trading.

Upstox Commodity Account Customer Care

    Upstox serves its customers very well. You can interact with Upstox support through below-mentioned information:

Upstox Commodity Trading Order Types

    There are a number of Upstox order types in which you can invest and earn the profits. Other than normal order types, Upstox offers Cover order for the commodity segment. Bracket Orders are not available with Upstox for Commodity.

Upstox Commodity Margin

    Upstox offers the following margin for Commodity Products:

    • Intraday Future Trades - 2.5x for Basic Plan and 3x for Priority Plan.
    • CO Future Order - 3x for Basic Plan and 4x for Priority Plan.

Upstox Commodity Trading Account Advantages

    Below mentioned are the advantages for Upstox Commodity Account:

    • Low Brokerage: Upstox is an ideal discount broker for those investors who wants to pay low brokerage to the brokers. Like this, you can save more on brokerage fees and invest more money in commodity trading.
    • Advanced Analysis Tools: You can get all of your required trading information via charts to conduct proper research on the commodity segment. Moreover, Upstox offers 100+ charts and other peripheral tools to prudently track your financial health.
    • Efficiency: With everything going in a sprint pace in the commodity market, Upstox offers trading platforms that are secure and stable, so that you can place your commodity orders as per your convenience.
    • Ease of registration: Easily open your commodity account with Upstox with Aadhaar-based eKYC – the paperless technologies which will, in turn, reduce costs for Upstox and investors.

Upstox Commodity Trading Account Disadvantages

    Below mentioned are the disadvantages of Upstox Trading Account:

    • No Unlimited Trading Plans: Upstox does not allow unlimited trading plans for its investors and this limit bounds the investors to trade in a specific manner.
    • No 24/7 Customer Service & Stock Tips: There is no 24/7 customer service offered by Upstox and investors have to be self-apprised of the commodity market because the company doesn't provide stock tips or recommendations.

Upstox Commodity Trading Platforms

    Upstox has a dedicated commodity trading platform named as Upstox Pro App. Investors can download the application on their mobile and track their investments. Although, we are considering commodities trading (MCX) right now, but you can also track your trade picks on multiple exchanges (BSE, NSE, NFO, NCD, and BCD). You can enter lots of sizes of the commodities effortlessly; track the market trends in real-time, and manage your commodity picks.

    Quick Fact: Upstox Pro App has more than 10 Lakh+ downloads from the Android & iOS play stores.

Final Thought

    With the turnover of over Rs. 1 lakh crore on Daily national exchange, 10 lakh+ downloads and the robust client base of more than 7 Lakh, Upstox is surely a superlative discount broker in India. Prominent businessmen, such as Ratan Tata, have infused their capital in this project to propagate commodity trading in India. You don’t have to maintain any minimum balance, smart transfer of the funds is there. Facilities like these will attract more number of users towards it.

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Commodity Trading FAQs

  1. 1. Are there any hidden charges in opening Upstox commodity account?

    No, there aren’t any hidden charges in opening the Upstox commodity account. However, the Upstox commodity account opening charges are Rs. 150 for MCX.

     

  2. 2. What are the benefits of commodity trading with Upstox?

    While performing commodity trading with Upstox, you can have the following benefits:

    1. Monitor market trends: Upstox offers more than 100 indicators for you to decide whether you want to enter or exit the commodity market.
    2. Make fast and precise decisions: Learn about the highs and lows of the MCX market in real-time via study charts and take prudent decisions.
    3. Trade from anywhere: Upstox applications are available for web & mobile platforms; you can invest in crude oil, gold, silver & other commodities via applications.
    4. Profits Management: Easily track & manage your earnings from the commodities trading in your dashboard.

     

  3. 3. How can I withdraw funds from Upstox commodity account?

    Following the below steps, you can easily withdraw funds from your Upstox commodity account:

    1. Firstly, go to the official website: rksv.in.
    2. Secondly, you have to log in to the account by entering your login credentials, i.e., username & password.
    3. Go to ‘Withdrawal Request’.
    4. Click on ‘New’.
    5. Now, select Commodities and enter the amount. The entered amount should be less than the Balance amount.
    6. In the last step, click on Submit to complete the withdrawal process.

     

Last Updated on 2020-09-17

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