How to open Trading & Demat Account Online
Last Updated: Dec - 23- 2019
Retail-Individuals who have valid Aadhaar card with an active Aadhaar-linked mobile number and email id can open trading and demat accounts online. Thanks to Aadhar.
The below write-up will elaborate more on how to open Trading & Demat account online
Before proceeding, Keep the following documents in hand for a smooth account opening experience:
- Aadhaar Card to ensure the Aadhar number is entered correctly.
- PAN Card to ensure that the PAN Number is entered correctly.
- The mobile device with which the mobile number is registered with the Aadhaar database or UIDAI, so as to receive the OTP.
- Scan of personalized cancelled cheque or latest bank account statement, which is required to be uploaded. Please note that in case the cheque does not include your name and in case the bank proof does not mention the IFSC & MICR code, application will be rejected.
Step 1: To begin with, the applicant must visit the broker’s online portal to open a new trading and demat account. On entering basic details such as name, mobile number, PAN and Aadhaar number, a verification OTP will be sent to the Aadhaar registered mobile number
Step 2: Once validation of PAN and Aadhaar is completed, the applicant needs to select the market segment he wishes to trade in, address that he wants to use, other personal details and bank details. Soft Copies of Document proofs must be uploaded when prompted.
- Step 3:The applicant will have to go through an in-person verification process. Document proofs and physical presence of the applicant will be verified through a video session by the broker’s official. Once accepted, the applicant will be prompted to affix e-sign and an OTP will be sent to the registered number. On entering the number, e-sign will be affixed, the e-KYC process will get completed and a unique client code (UCC) will be generated
Since all processes are completed online, the account activation takes only a few minutes.