Demat Account

 

Deciding on having a demat account for all your investment trading is one of the great decision. All you need to be informed of all the nuances before finally starting to trading. If you are new to trading then you got to be very careful in trading, else you may get carried away with the numerous options available and may end up paying higher charges and brokerage amount. The best way to manage this is consulting to experts at an education level or institutional level. It is always better to be informed before starting up so that you may not have any undue experience initially.

 

Options like low brokerage charges, zero account opening, or low maintenance charges are some of the factors that you must check online before finalizing. It is always better to seek second opinion with the customers before proceeding.

 

There are various important factors to be considered if you’re a beginner and looking for a good stockbroker:

    • Quality of trading platforms.

    • Stability of trading platforms.

    • Features available & the time they take to implement new features.

    • High quality and responsive support team.

    • Transparency on the pricing structure & model

    • Trading & Financial tools.

    • Resources available

    • Innovative products etc.

 

If you are interested to invest & trade online then reach out your preferred bank/ financial body to help you & guide you on the various easy process. However, before trading your shares online there are couple of documents that you need to keep handy for opening a demat account. These documents are must to have your Demat account opened. Ensue you have the documents available before opening the account.

 

    • Proof of Identity: Proof of identity includes having all the required documents that will help determine your identity. Such as: Aadhar Card, PAN card, voter's ID, passport, driver's license, IT returns, electricity bill, telephone bill, etc.

 

    • Proof of Address: Address proof involves those documents recognized by the government & bears your registered residential address. The acceptable documents are: Aadhar Card, Passport, electricity bill, phone bill, ration card, driving license etc.

 

    • Bank account details (A cancelled cheque for capturing the MICR)

 

    • A recent coloured passport size photograph

 

Having a demat account is not only hassle free, but also the most convenient & smart way to trading. If you somebody who enjoys trading with shares/ stocks, then having a demat account is a must without any extra thought.

 

If you are a beginner, you may also choose a broker to open your demat account who will always charge you less but provide you best platform and support. To save money from brokerage I prefer to go with discount broker.