With stock markets reaching all-time highs, there has been a surge in the number of demat and trading accounts. One can now open a trading and demat account digitally without submission of any physical documents.
Eligibility
Any individual over 18 years of age can open a demat and trading account digitally. Mandatory documents for the same are PAN, bank account, identity and address proofs.
Fill up a digital Form
Visit the broker’s website and fill out the account opening form with details such as name, address, PAN and bank details of the account that is to be linked to the demat and trading account. Also, the most suitable brokerage plan needs to be selected.
In-person verification
In-person verification is carried out by the broker through a digital call or video recording of the individual as per instructions provided on screen.
Aadhar e-Verification
The individual can now review the form and submit it. The form can next be electronically signed using the Aadhaar authentication process through OTP. Once the submitted information, scanned documents and IPV are in order, the Demat and trading account.
Points to Note
- Study the different brokerage plans offered and compare them with the rates and services offered.
- Brokerage charges of discount brokers are lower as compared to full-service brokers who provide host of add-on services such as advisory, trading platform etc