If you wish to trade, you need to open a Demat account by contacting Depository Participants (DP). A Demat account is the same as your bank account. The only differences between them are money and financial securities. In a bank account, a user holds his money, whereas, in the Demat account, an investor holds his financial securities assets from where buying and selling your shares transaction will take place.
It is very simple to open a Demat account, just contact a big reputable broker company, also called a depository participant who has a lot of resources and tools to help you in trading and investment. The broker will guide you regarding your trading, investment, buying, and selling of shares. Whatever, formalities and documents will be required, he will share with you the checklist of required documents and will keep taking a follow-up from you if require anything to fulfill further formalities with time.
Today, we have lots of options and brokers from where we can open our Demat account. But you should choose the best depository participant or broker from where you do not need to seek other options, and you keep your mind focused on trading rather than choosing or seeking brokers. Do robust research while selecting the best stock broker because the one you made relation with a best and most reputable broker then you don’t need to worry for other things and your investment graph will only rise, that’s the prime benefit when we associate ourselves with a good brand.
Also Read: How to Choose the Best Demat Account
Before opening, the Demat Account must follow the below checklist:-
- Charges for opening Demat Account
- Procedure and Formalities while opening Demat account
- What brokerages do your brokers offer you?
- What services are they providing with the Demat account?
- Knowledge and experience of your selected broker.
- Most important is the must-do price, services, and benefits compared with other brokers before reaching any decision.
Like you do a comparison before purchasing any vehicle. You check its mileage, performance, and service centers; the same goes here as well. In fact, do more robust research here because it’s the question of your investment, assets, profit, and loss.
Now let us look at some brokers, which broker is providing what and what not? Although brokers are many, we’ll discuss on few who carry some specialties:-
1> Smctradeonline.com Free Demat Account
Smctradeonline.com offers a Free* Demat account for the complete one year and with a dedicated manager for each trader. This company has its research team and tools that give various research-based products and services to their investors to ace trading. They also come up with new offers from time to time so that investors and traders can also earn over their investment, interest, bonuses, and dividends. This company holds its #1 position in the world of trading and investing since 1990. It is an ancient and established firm, therefore, recommend to every trader and investor.
2> Karvy Online Free Demat Account
Karvy online is also the best choice for every trader because the company provides reverse brokerage opportunities but on its robust terms and conditions.
3> Upstox free Demat Account
Upstox is another brokerage firm that offers a free Demat account that provides free equity deliveries after meeting certain eligibility. Its intraday orders charge investors ₹20 on every buying and selling.
4> Motilal Oswal Free Demat Account
Motilal Oswal offers a free Demat account. You can trade across other smart gadgets and company support through their analysis and advisory. They also provide daily, bi-weekly & monthly analysis reports from their experts.
5> Samco Free Demat Account
Samco also provides a free Demat account. Here investors get 100% cashback on their transaction, but only for the first month. You can trade from a mobile.
6> Angelone Free Demat Account
Angelone is also providing the same benefits as others along with a free Demat account. Equity delivery-based trading is free and charges ₹20 for intraday trading.
7> Reliance Smart Money Free Demat Account
Reliance Smart Money also has a free Demat account feature. While opening an account with Reliance Smart Money, investors will not cost. It is also a good platform and provides good insights.
8> 5paisa.com Free Demat Account
It is also a new emerging platform where investors can open their free Demat and trading account. Their brokerage is ₹10 recently on every transaction. You will get a single platform to manage all your investments. They will also give you pro analysis and portfolio models.