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How To Start Trading Online In India?

By Aryan Singh | September 1, 2020
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trading

The basic requirement to start trading online in India is a Demat account and trading account. In this, a brokerage firm registered with any of two depositories, NSDL and CDSL, can assist you. These brokerage firms or commonly known as brokers will assist you to open trading accounts and Demat accounts online. They might also provide advisory services to guide you to choose the securities to trade in to fulfill your financial goals. 

Demat and Trading Accounts are two different accounts but interrelated with each other. Let’s understand their functionalities. The trading account is used to execute an order of buying or selling in the stock exchanges. Bombay Stock Exchange and the National Stock Exchange are the two exchanges in India. While a Demat account is used to hold your securities in Dematerialized form, you need to link your trading account with your savings account so that the money can be debited or credited through your account with every buy and sell transaction of shares or any other security.

How To Open Trading Account and Demat Account? 

Anyone can open the share trading account and Demat account with the following simple steps. 

Step 1. Find a reliable and suitable broker for you

You need to find out your needs to choose the right kind of brokerage firm for you. There are two types of brokers. 

  • Full-service brokers: If you seek guidance to choose the right type of securities to trade in, the full-time brokers are for you. With a bank subsidiary, you will get a 3-in-1 account which includes a Demat Account, Trading Account, and savings account. And other full-service brokers will provide a Demat account, trading account, advice, research reports but not a savings account. The fee will be as per the services they are providing to the trader.
  • Discount brokers: Discount brokers offer brokerage accounts with no extra services than basics. And they charge the least possible cost in comparison to full-time brokers. Some discount brokers also provide efficient tech-based trading platforms and affordable subscription packs for trading.

Step 2: Compare brokerage services and fees 

The fees and other charges for broking services will vary from broker to broker. Most brokers offer discounts based on the number of trade executions. Some offer free annual maintenance charges for the first year of opening the trading account. It is good if any broker offers to open Demat and trading account free of cost but don’t be overwhelmed and don’t forget to compare the facilities they are offering. 

Step 3: Complete documentation process 

Just like any bank account, a broking account also needs to complete the documentation process. A PAN card is necessary to open such accounts. You can open a trading account online easily. Or you can ask for a home visit from the broker’s representative. You will need a PAN card, ID proof, Income proof, address proof to complete the KYC process. Once your documents will be verified, you will get account details and can start trading immediately. 

It is a simple process. Now your journey to be a long run trader has started. You need to do your research work to find profitable stocks and start trading.

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Category: Business Tags: Demat and trading account, open Demat account

About Aryan Singh

Aryan Singh is an experienced Financial Consultant and Tech Reviewer who has 6+ years of experience in the field of finance, business, and technology. He is very passionate to write about Finance, Business, Technology, Gadgets, Digital Marketing, Guest Posting, Fashion, Lifestyle, etc.

View all posts by Aryan Singh →
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