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How to Open online Trading Account Online in India?

The trading account permits you to trade either offline or online. Online trading begins with opening your online trading account. What is trading account and how to do online trading? Here is how to open your trading account and start online trading in India.

Once you open your online trading account start online trading, here are few sources for you to learn stock trading.

Approach a Broker for Opening an online trading Trading Account Online

You have to first select your broker where you want to open the trading account. Apart from the reputation of the broker and market record, you also need to consider your proximity to the broker office. Test the online trading interface before signing up with the broker for an online trading account. You can either fill up the physical form or open the trading account online on the website of the broker itself. You have both the options available to you. The broker will normally help you through the account opening process and then ask you to get the required documents ready for opening the trading account.

Opening the trading account with demat account

If you want to trade only in futures and options then demat account may not be required. However, if you intend to trade in equities, you need to have a demat account. It does not matter even if you only want to trade on an intraday basis. Normally, the broker documentation involves opening a Trading cum Demat (TCD) account. Most brokers will waive off the account opening charges for demat account but there is normally an annual maintenance fee (AMC) that will be charged. There are no charges for your trading account opening.

Documents Required for Opening an online Trading Account

You need to provide your PAN card as the basic document for opening an online trading account. Additionally, you also need to provide proof of identity and proof of residence as per the formats prescribed by SEBI.

Proof of Identity:

Statutory documents with a photograph are acceptable as proofs of identity, like:

  • Passport
  • Voter ID card
  • Driving license and
  • Aadhaar card etc.

Proof of Address:

For proof of residence you can provide

  • Telephone bil
  • Electricity bill
  • Water bill

The broker can also accept the Income Tax assessment order as proof of address.

Once these documents are submitted in duplicate, with the originals for verifications, the form is accepted. After that, it takes nearly 3-4 days for the broker to upload the details and actually activate your trading account.

Opening online trading and demat account by doing E-KYC

There is also the facility of doing E-KYC with your Aadhaar card. Ensure that your Aadhaar card is mapped to your PAN card and your bank account. Also, the mobile number for the Aadhaar card should be the same as the mobile number for your trading cum demat account. The Aadhaar authentication is entirely done online with a one-time password (OTP) sent to the registered mobile number. As proofs, the person is only required to upload a copy of the PAN card and a cancelled cheque on the broker’s website. Brokers will insist on one more step to complete the process. You will either have to identify yourself via online video conference or by walking into an authorized authentication centre for in-person verification (IVP). Once that is done, your trading account and demat account are activated immediately. You also need to sign the Power of Attorney agreement with the broker for automatic debits to your demat account for online trading purposes.

Once the above formalities are completed, you are good to trade with your online trading account. The broker could come back to you and ask for more documents in case there are some compliance issues with the existing documentation. The above documents are fine for you to start trading in equities. However, if you want trade F&O, the broker will insist on either a bank account statement or your 2 years tax returns data. The idea is to be reassured that you have the capacity to take losses since F&O is a more risky product.

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"Prevent Unauthorized transactions in your Trading/Demat Account --> Update your mobile numbers/email IDs with your stock brokers/Depository Participant. Receive alerts/information of your transaction/all debit and other important transactions in your Trading/ Demat Account directly from Exchange/CDSL at the end of the day .......... Issued in the interest of investors." | "KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary." | "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account." |"Investment in Securities Market/Commodity Market is subject to Market Risk. | RGESS investors kindly download New Retail Investor Certificate from link - https://www.cdslindia.com/investors/rgessverification.aspx | Dear Investor kindly update Aadhar Number with your demat account, contact your nearest branch."
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