You all might have heard people talking about the rise and fall of the prices in the stock market. It might amaze you when hearing about the thing that it is a great way to earn money. If you are interested in trading in stocks? First of all, you need to open a Demat account which a medium through which the person can hold stock market shares, government bonds securities, IPOS, exchange-traded funds, etc. The Demat account assures that the person with the security to deal in all such financial investments and the handling of the account is very easy.
So now the question arises how to open a Demat account? This might include some of the very simple steps that are to be done on the internet. Let’s have a look at them.
- Choose the depository participant: It is an authorized bank, broker of the financial institution that will help you to open the Demat account. The choice of the DP purely depends upon the choice of the person. It can depend upon the brokerage charges and annual charges that are being charged by them.
- Submit the form: Once the person selects the DP, he will be provided with the form that will be required to be filled with all the right information. It is a KYC form that will provide all the necessary data that is needed to know the person well. This form is to be attacked with some of the identification proofs like Pan card, residence proof, ID proof, and passport-sized photographs. Once all these things are submitted, the person will get a call for the verification of all these things. Even he is needed to provide the canceled cheque for the dividend bank details.
- Sign the agreement: After all these formalities are being done, the person needs to sign the agreement that will have all set of rules and rights that will be associated with the Demat account. You can read it very carefully, in case there is any doubt, you can ask the expert. Once the agreement is signed one copy of the agreement should be kept with the person himself.
- Receive unique client ID: Once the account is opened the person will be provided with the unique client ID and with that the person will have the access to the Demat account online. This is how the person can start his journey of online stock trading in the market.
Even the person can perform this task online by visiting the selected DP’s website and further doing all this process online. In this, the person will receive an OTP on the registered mobile phone for verification. Once you have this, you will be benefited from all the real-time information about your investment in the market. It will be a great option if the person goes with a 5paisa Demat account. It is a great online trading platform that has an easy-to-use interface. They will help in carefully investing the money to get maximum returns in the future. So start your online stock trading with them.
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