How to Open Online Trading Account in India? : The stock markets got digitization way back in 2000. Since then, trading in Indian share market is executed online.
You may contact any good stock broker for opening an online trading account in India. Using your online account, you can place buy order or sell order on phone or online. Learn how to open an online trading account.
✓ Guide to Online Trading Account Opening
To start investing in stock markets, you need three accounts. Trading account, demat account, and bank account are a must.The online trading account is for buying and selling of the shares. Demat account is for debit and credit of shares and securities. Funds are transferred to the bank account of the investors.
- Select the stock broker or a brokerage firm. Make sure that you are selecting brokers with good records.
- Refer their brokerage rates and compare the processing fees and overall brokerage.
- Clarify if they are offering discounts on the volume trading. Consider all the factors before deciding on your broker.
- Meet the broker and get familiar with the account opening procedure.
- Fill up and submit the account opening form and KYC form.
- Submit your proof of identity and valid proof of residence/office address.
- Wait for the verification process to get complete.
You will receive your trading account details after the verification.
✓ Demat Account Linking
After opening your trading account, you need to link it to your demat account. The Demat account will retain the shares and securities purchased by you. Linking your demat account with your trading account is very important. It will save you from the repetitions of the verification process.
# Must Read ” How to Open Demat Account “
✓ Important Points to Consider Before Opening Trading Account
Remember to consider following things before you open your trading and demat accounts.
- Make sure that the broker is SEBI registered. Use the SEBI’s official website to check the registration status of the broker.
- A new bank account for the trading purpose is good to track your gains. Involving trading account with your salary or business account can be confusing.
- Ensure that your broker will provide access to the platform from your laptop and other smart devices.
- Also, check if the broker gives you good technical and feedback support.
- Get your unique trading Id from your broker to access your account from anywhere.
Do rely on your broker but keep a good track of your account for better control.
# Also Read ” Benefits of Online Share Trading Account ”
✓ Important Things to Consider Before Opening Demat Account
Investors need to open a demat account as well. Here are some useful tips for opening a demat account.
- Check with multiple brokers or banks and know the features of their demat account operation.
- Get information on procedures like placing an order and checking the balance.
- Try to bargain out the best brokerage rates with good quality services.
- Get details of their processing fees and all the service charges.
There are many service providers for a trading account and demat account. Selecting a reliable and efficient broker can bring a big different to your investments. We hope that’s you like our article of ” how to open an online trading account “