Announcements

On account of Ganesh Chaturthi, markets will be closed on Friday, 10th September 2021. Trading will resume on Monday, 13th September 2021.

MCX will be closed on Friday, 10th September 2021 for the morning session. The second session (5:00 PM to 11:30 PM) will take place as usual.

Please note: All fund withdrawal requests placed on Friday will be processed on Saturday, 11th September 2021.

It is mandatory to have your PAN linked to your Aadhaar before 20th September 2021, as per Section 139 AA of the Income Tax Act 1961.

Doing this also ensures the smooth functioning of your account.

What happens if you don’t link these two documents?

In case you fail to link your PAN to your Aadhaar card before 20th September 2021, your Upstox account will be marked as inactive. You can also read the full Exchange circular here: https://bit.ly/3yU9v8i

Additionally, while you can file your taxes without linking these two documents, the Income Tax Department does not process returns unless your Aadhaar and PAN are linked.

Ensure your account doesn't turn inactive and avoid other financial inconveniences by linking your PAN to your Aadhaar card today.

To link your PAN to your Aadhaar card, visit www.incometax.gov.in

Here’s are the steps you can follow- https://www.incometax.gov.in/iec/foportal/help/how-to-link-aadhaar

OR 

You can send an SMS to 567678 or 56161 in this format: 

UIDPAN<space><12 digit Aadhaar><space><10 digit PAN>

Stay tuned for more important updates from Upstox!

🔹 Up to 5X margins on Intraday and CO Orders in Equity  

🔹 Leverage NOT available for Intraday and CO Orders in F&O, Commodity & Currency (i.e. 1X margins)

We are conducting a scheduled upgrade & maintenance activity on 28th August 2021 from 9.30 AM to 12.30 PM to ensure that you can enjoy a seamless trading and investing experience on Upstox. During this time you may not be able to login to the Upstox mobile app & desktop platform. Thank you for your patience.

The fourth phase of Peak Margins as prescribed by SEBI here will be effective from 1st September 2021. This means in order to offer Intraday trading across various products brokers need to collect a minimum of 100% of funds on the prescribed limit from 1st September 2021.

What are Peak Margins?
Before 1st December 2020, brokers could provide higher leverages by offering products like Intraday (MIS), Cover Order (CO), and Bracket Order (OCO) as margins would only be applicable in case a position is carried forward.

However, in the interest of the market and to bring in more stability, SEBI mandated all brokers to collect minimum funds from customers even for the Intraday positions. This means traders can take Intraday positions only after fulfilling this minimum margin requirement. SEBI also asked clearing members and clearing corporations to monitor brokers’ margin activities from 1st December 2020.

The changes as per these guidelines are being rolled out in phases.

In the previous phase which was effective from 1st June 2021, brokers had to collect a minimum of 75% funds on the prescribed limit from customers. And now in the next phase which will be effective from 1st September 2021, brokers have to collect a minimum of 100% funds on the prescribed limit from customers.

You can read more about it here.

How does this affect intraday traders?
As per SEBI guidelines, brokers have to collect a minimum of 100% funds on the prescribed limit on Intraday trading offered across various products. Margin applicable on the intraday positions would be:

• Equity: 100% on applicable VAR + ELM OR 20% of trade value 
• Futures and Option (writing): 100% on SPAN + Exposure margin

What are the revised margins as per this day?
Revised margins from 1st September 2021 are:

• Up to 5X margins on Intraday and CO Orders in Equity 
• Leverage NOT available for Intraday and CO Orders in F&O, Commodity & Currency (i.e. 1X margins)

Stay tuned for important updates from Upstox!