ZERODHA DEMAT ACCOUNT CHARGES DOCUMENTS AND SERVICES
ZERODHA DEMAT ACCOUNT INTRODUCTION
The very important step to start trading in the stock market is, to have a demat account. If you’re looking to buy& sell securities like shares, mutual funds, digital gold or ETFs online, a dematerialized account is absolutely essential. Dematerialized form is the form where the physical securities are converted into electronic form.
A traditional service broker provides a full-service to its clients providing them advisory, research, asset management and retirement planning. A traditional broker usually allows trading of different financial instruments – forex, mutual funds, pension plans, insurances, bonds, IPOs and FDs.
Anyways, before getting into the steps in this article, let me tell you how and why I opened my Demat and trading account at Zerodha. When I first started investing, I used full-service broker as my stockbroker for opening my demat and trading account. Although I was happy with the facilities and platforms provided by it, I soon realized that full-service broker was very expensive. The worst part was paying too much of brokerage even when you were selling the stock at a loss.
ADVANTAGES OF ZERODHA DEMAT ACCOUNT
- The largest stockbroker by active clients, market volume and new customer acquisition.
- Equipped with most advanced online trading tools at minimal charges.
- Charges zero brokerage fees for delivery-based equity transactions and mutual funds.
- Safety, reliability and trusted broker which safeguards your financial interests.
- Suitable for all kinds of investors. Ease of operation lures active and passive investors, beginners, active traders and algo traders.
Zerodha offers online stock and commodity trading to retail customers.
HOW TO OPEN DEMAT ACCOUNT – ZERODHA BROKING SERVICES
Zerodha Account Online / Offline
To trade (in stock, commodity or currency) or to invest (in stocks, mutual funds) with Zerodha, a customer has to open a trading account and a demat account. The demat account is not mandatory for customer planning to trade only in derivatives.
Zerodha offers 3 types of accounts:
- Trading account for equity and currency derivatives.
- Demat account to take delivery of stocks.
- Commodity account to trade commodity futures on MCX.
Zerodha also offers 2-in-1 account (a combo of trading account and demat account) which offers smooth automatic transactions between these two accounts.
If you wish to open a demat account with Zerodha via online procedure, here is a step-by-step manual for you for it:
Step 1: Visit the Zerodha website and go to the Zerodha Demat account opening page.
Step 2: Enter the mobile number to begin signing up
Step 3: You will receive an OTP on the entered mobile number.
Step 4: Enter the OTP to verify the details
Step 5: Enter details like full name and email ID. (Your name shall match as given in Aadhar Card, PAN Card and Bank)
Step 6: Enter details of the PAN card and Date of Birth (DOB).
Step 7: Proceed further by paying the Zerodha Demat Account Opening Fees (Rs 200 for Equity and Additional Rs 100 for commodity)
Step 8: After completing the payment process, it will ask to connect Aadhaar details via Digi locker
Step 9: On completion of Aadhar verification a new screen will be displayed in which you are asked to enter your bank details.
Step 10: The next step involves the IPV verification (In-person Verification) over webcam or phone.
Note: IPV or In person verification is a process where a Depository Participant in personal verifies documents and other details as per the law by SEBI. It is Compulsory for every investor to go through the in-person verification (IPV) process before opening a trading and a Demat Account.
DOCUMENTS REQUIRED TO OPEN ZERODHA DEMAT ACCOUNT
- Copy of your PAN card
- Aadhar (Mandatory for opening an account online)
- Cancelled cheque or latest Bank statement
- Photo or scanned copy of your signature
- Income proof – For trading in Futures and options.
Zerodha is a stock broker registered with SEBI, BSE, NSE and MCX. It is a SEBI approved broker authorized to offer trading services in stock, currency and commodities. Like other stock brokers, Zerodha is regulated by SEBI and audited regularly by stock exchanges.
Zerodha is as genuine as other stock brokers in India. Zerodha is working towards the Digital India initiative and you should be a part of it too. Being just too digital in this stock broking industry, it becomes difficult for an investor to get Zerodha executive if an investor is living in a small town or village.