Upstox Refer And Earn Review – Earn 1 Lakh Per Month

Upstox is one of the most popular trading and investment platforms in India. Its well-crafted referral program has been a major reason why Upstox has been able to gain a huge user base. 

This article will be a review of the Upstox refer and earn program.

The lockdown period has caused people in India to gain interest in trading, investment, mutual funds, etc. People are looking for good applications to invest their money safely.

You can use this opportunity to make some quick bucks by suggesting to your friends and family members an authentic platform like Upstox.

Upstox Refer And Earn Program

Besides trading and investing, there are multiple ways to make money on Upstox.

What does Upstox pay for referrals?

When you refer a friend to Upstox, you will get ₹800 after they create an account and ₹400 when your friend places a trade on Upstox.

What does your friend get when you refer Upstox to them?

  • A completely free Demat account
  • A brokerage credit of Rs. 1000 for the first 30 days
  • Complete access to all of Upstox’s basic and semi-advanced app features

You should create an account before starting to refer Upstox to your friends. You can do that by following the below steps.

How To Open An Account In Upstox For Free

You should have some documents before opening any Demat account. Keep soft copies of your Aadhar card, PAN card, your bank statement, and a canceled cheque so that the account opening process will be smooth.

Documents Required For Upstox Account Opening

If your Aadhaar is linked with your mobile number, you can do the complete account opening process online.




PAN Card


Your name

Aadhaar Card

Aadhaar Card

Bank’s IFSC Code

Driving Licence

Voter Identity Card



State issued Driving License


Voter Identity Card

NREGA Job Card


NREGA Job Card

Utility bill which is not more than two months old of any service provider

Account Number

Any document notified by the central government

Bank account or Post Office savings bank account statement.


Steps To Open An Upstox Demat + Trading Account Online

  1. Visit the Upstox Demat account opening page
  2. Enter your mobile number, email and verify them using OTP
  3. Upload a scanned copy of your PAN card and your date of birth
  4. Submit your bank details and other basic information
  5. After you fill in the info, you should complete Aadhaar digital signature
  6. Do a quick video verification to complete the process
  7. Upstox’s team will now verify your documents and if everything is fine they will approve your onboarding

How To Refer And Earn In Upstox?

Now since you’re done with opening a free Upstox account let us learn how to refer and check your earnings in the app.

  • Open the Upstox mobile app
  • View the refer and earn section
  • Copy the link in referral section
  • Share the link to your friends
  • Once your friend opens an account you can see his name displayed

Upstox Refer And Earn Video Tutorial (Hindi)

Upstox Refer And Earn Withdrawal Process

For Old Upstox Users

  • Open (old Upstox web platform)
  • Click on your name displayed in the top right corner
upstox pro platform
  • Go to the refer and earn section
  • Click on the take out button and enter the amount
  • The money will be reflected in your account within two to three days
withdraw money old

For New Upstox Users

  • Click on your profile icon
  • Go to rewards
  • Click on withdraw rewards and enter the amount

Upstox Referral Code

Upstox does not have a referral code but you can use the above referral link to get a brokerage fee of Rs. 1000 for free!

Upstox Refer And Earn Terms And Conditions

There are certain terms and conditions to keep in mind while referring Upstox to your friends:

  • You will be receiving the referral amount that was mentioned in the latest refer and earn update given on the official page of Upstox. For example, if you referred someone to open an account when the referral amount was Rs. 1000 and if one day later the referral incentive was cut down to Rs. 500, you’ll be getting Rs. 1000 in your account.
  • In order to redeem your referral reward, you must have placed a trade atleast once in the last 365 days.
  • You will receive the referral income only after your friend has completed the account opening process and their verification process is done.
  • You cannot earn referral income by referring to your close blood/family relations.
  • Promotion through spam methods of any kind and online advertisements are strictly prohibited.

How To Add Funds In Upstox?

You need money to buy any stock from Upstox. But you might be wondering how to add funds to Upstox. Here’s how.

  1. Open the Upstox app
  2. Tap on the Funds tab
  3. You’ll see an ‘Add Funds’ option, click on it
  4. Type in the amount you wish to add and select your bank account
  5. You’ll be prompted to select a payment method. Choose any one from Google Pay, Netbanking, SmartTransfer ,etc
  6. Click on continue and complete your transaction
  7. The added amounted will be reflected in your Upstox account within 10-15 minutes

How To Buy A Stock In Upstox?

Now that you have added some funds following the above steps, let’s see how to buy stock in Upstox.

  1. Open the Upstox app
  2. Search for any stock in the watchlist tab
  3. Click on the ‘+’ icon besides the stock name to add that stock to your watchlist
  4. Click on the stock to view its details
  5. Tap on the buy button and in the popup enter the quantity of stocks you want to buy
  6. Choose between intraday(trade within a day) or delivery(invest for more than a day)
  7. Tap on the review option
  8. Click on place order
  9. Your order will now be placed

How To Delete Your Upstox Account?

Although Upstox is a great platform to buy stocks, mutual funds, and a lot more, it might not be the best platform for everyone. There are other Uptox alternatives that might attract your attention. Before jumping altogether to another platform while abandoning Upstox completely is not a good idea since Upstox charges you a monthly maintenance charge (AMC) of Rs. 25 + GST. 

Here’s how you can delete your Upstox account if you wish to do so:

For old Upstox version users:

  1. Open your Upstox app and login using your 6-digit UCC id
  2. Click on the ‘My Account’ link displayed when you open the navigation menu
  3. On the Account page that opens scroll down to the very end that says ‘Account Closure’
  4. Select the ‘Close Account’ button
  5. You will now be directed to the confirmation page
  6. If you wish to proceed to close your Upstox account, click on the link generated
  7. If you change your mind and decide to not delete your account, click on ‘Keep my Upstox Account’ button

For new Upstox version users:

  1. Open your Upstox app and login using your 6-digit UCC id
  2. Click on your profile icon/ Name
  3. Choose Account option and then select Profile
  4. Select the ‘View all’ option next to Account
  5. Click on the hamburger menu icon on the left corner and select Account closure
  6. You will be redirected to account closure page, select Close Account
  7. On the confirmation page click on the link to close your account or choose ‘Keep my Upstox account’ if you change your mind.

Upstox Refer And Earn Payment Proof

If you’re still in doubt whether you’ll be able to make money on Upstox through their refer and earn program, here’s Upfoundr’s referral earning just through referring people to Upstox.

upstox refer and earn payment proof

So what are you waiting for? Sign up on Upstox and start referring right away!

Frequently Asked Questions

What is Upstox?

Upstox is a discount broker that provides a trading and investing platform in stocks, mutual funds, IPOs, and Futures & Options at BSE, NSE, & MCX to retailers.

Who are the founders of Upstox?

Upstox is owned by RSKV Securities Pvt. Limited was founded by Ravi Kumar, Shrini Vishwanath, and Kavitha Subramanian.

What are the Upstox account opening charges?

Upstox charges a one-time account opening fee of Rs.249 + GST

How do I find my Upstox referral code?

After you complete your account opening process, it takes roughly 24 hours for the Upstox team to verify your account. Once verification is done, you’ll receive your referral code/ UCC id in your registered mobile number as a text message and also in your registered email address

What is the referral amount in Upstox?

According to the latest update provided by Upstox, the referral amount is Rs.800 when your friend opens an account + extra Rs. 400 when your friend places his first trade

Can I earn money from Upstox? If so how?

Yes, there are multiple ways to earn money from Upstox, and making money through their refer and earn option is the easiest. Upstox also has a partner program where you can become a sub-broker of Upstox and earn a commission each time when your referred friends trade.

How does Upstox refer and earn work?

Upstox gives you a special referral link that you can share with your friends. When a person opens an account via your link, the referral amount gets credited to your Upstox account which you can transfer to your bank account

How long does it take for Upstox to process the referral amount to the bank?

Normally it takes about 3-5 days for the referral amount to be transferred to your bank account. If you face further delay, you can contact their support team via their contact page to get immediate assistance

Does Upstox charge monthly?

Upstox is completely free for commodities. There is a monthly maintenance fee of Rs. 25+GST for their Demat account.

Is Upstox refer earning safe?

Upstox (RKSV) is a SEBI registered(INZ000185137) popular and reputed discount broker in India. Large investors like Ratan Tata holds a lot of shares in Upstox and so refer and earn in Upstox is completely safe and reliable

Is Upstox good for beginners?

If you’re trying to be a long-term investor then yes, definitely Upstox is good for you. But Upstox is not a beginner-friendly platform for intraday beginners. Zerodha is a better alternative in the case of intraday.

What is MTM is Upstox?

MTM (Mark To Market) is the difference between your buying price (of a stock) to the current market price. It helps you to easily calculate your profit or losses.

What is the customer care number of Upstox?

The customer care number of Upstox is +91-22-6130-9999. You can either call this number or email Upstox customer support team on [email protected]

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  1. New update is fantastic easy to use and very helpful for treding. especially for new beginners. Hey upstox you are getting better day by day thanks for adding APPLY for IPO feature. it is very helpful for everyone. Thanks To The Calculation Features When Buying Shares! New News Update Is Quite Good.

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