The whole stock market of India works according to the guidelines given by SEBI. Not only this, with time it is seen that there is an immense rise in the popularity of investing money in the stock market. This is the reason SEBI has to be more careful to protect the interest of people from any of the malpractices. To start your journey in the online stock market, there is a requirement to have a Demat account.
The whole process of opening the Demat account can be done online and the person needs to fulfil some of the requirements like verified documents to complete the whole process of opening. Even to open this account the person needs to pay some money as the Demat account charges. These charges have been lived by the SEBI itself and it is kept transparent and competitive. So that the people paying them know what all things are included in the account charges. Though the charges can be very minimal that can be around Rs. 350- 400. Once you complete the whole steps of opening the account, you are good to go for starting your online stock trading process.
Before opening the account, there are some things that he needs to keep in mind. Let’s have a look at them.
- Link your Demat account with your trading account: The person needs to have the trading account as it is important for buying and selling in the stock market. Without the trading account, the Demat account is of no use. So it will be a great idea to link both these accounts together while opening the Demat account. So that all the facilities are made available under one roof.
- Know well are about the Demat account charges: Before opening or starting the process of opening a Demat account, the person needs to ensure the charges involved in this process. Even these charges can help you to compare the services of the many depositary participants. So whichever matches your budget and preference, the person can select the depositary participant and start your trading with them.
- Fill in all the details correctly: While filing the details for the Demat account, the person needs to recheck all the details properly. This will help the person to verify the thing that there are no errors committed while filling the form. Even it reduces the chances of rejection of the file submitted to open a Demat account.
- Fill in your nomination: Most people miss this step while opening the Demat account. But it is very important to fill your nominee because no one is sure about the future. Having the nominee of the Demat account will easily transfer all the stocks to them in the future.
Following all these things will help the person to open a Demat account with utmost care and it will yield high returns in the future. 5paisa is an online trading platform that provides their clients with the easy opening of the Demat account. Not only this, the experts also provide all the current situation of the market to their clients so that they can make the best decisions regarding their investments.