How to open a Demat account In Upstox ,Demat account is short for dematerialization account. The Demat Account simplifies electronic ownership of stocks and securities. It should be noted that the purpose of this account is to convert share certificates from physical to electronic form, allowing greater accessibility for account holders. A trader can hold, transfer and trade securities with a demat account without having to deal with real securities. As a result, trading has become a much safer, faster and more efficient way to trade and store assets. Many brokers allow opening a Demat account free of charge. Choose the most suitable broker for you
How to open a Demat account In Upstox | Demat account opening procedure
Choosing a broker is the first and most important step in opening a Demat account. A broker can be chosen depending on several factors such as Customer service, fees charged by different brokerage houses, simple user interface
Documents required to open a Demat account
The following documents are required to open a Demat account:-
Open a Demat account online
The easiest way to open a Demat account is easy and convenient online. You can register online and easily complete the registration process. The only basic requirement is an Aadhar card along with your associated mobile number.
- identity proof
- Proof of residence
- Passport size photo
To open a Demat account, go to the upstox website
After entering your basic information, click Register.
When asked to provide your documents, scan copies of your recent bank statements, Aadhaar, PAN, canceled checks and PAN ready.
To verify your identity, enter your Aadhaar details and the One Time Password (OTP) that you will receive on the linked mobile number.
It has to end there. Your Demat account must be set up at this point.
Annual Maintenance Fee
Your broker will often charge you an annual maintenance fee to keep your account open year-round. Although these fees are usually small (between 300 and 800 rupees per year), many brokers in the industry no longer charge a fee. The brokerage market is very competitive because of the urge to offer the best prices and services to traders.
Transaction fees are fees charged by your broker when you move stock or other securities into and out of your escrow account (via debit and credit). Depending on their target market, the definition of a broker can vary widely.
What documents are needed to open a Demat account?
Passport size photos
Can shares be bought without a demat account?
No, you cannot buy shares without a Demat account. This is due to a 1996 decision by the Securities and Exchange Board of India (SEBI) which stated that all investors must have a Demat account in order to trade stocks or stocks.