How to select the best Demat account in India?

How to select the best Demat account in India?

If you wish to do online trading, it is very much important for you to understand the need of having a Demat account. The Demat account helps in easing down the buying and selling of securities. This helps in the easy holding of shares, bonds, debentures etc. Earlier, trading of securities was done in physical format. The securities were stored in paper format, which was tedious and prone to risks like theft, loss, storage etc. Later, Demat accounts were introduced where you can keep your securities in electronic form.

It is important to find the best Demat account in India. Before getting a Demat account, know that there are three types of Demat accounts. These are regular Demat accounts (for residents of India who trade in equity share investment), repatriable Demat accounts (for non-resident Indians to trade global market) and non-repatriable accounts (for non-resident Indians without transferring funds abroad). To open a Demat account, make sure you have all the necessary documents like a PAN card, passport-size photographs, any proof of identity like an aadhar card, driving license, voter ID etc, a cancelled cheque with all details like holder name, address, account number, IFSC, MICR code, etc. You can open a Demat account with any online trading platform or financial institution. 

You should select one which tackles all your market trading needs. Following are some of the points highlighting what points you should look at while selecting the best Demat account in India:

  • First-step program- This is mandatory for new investors who wish to invest in the market. The new investors are not aware of the terminologies and other trading terms. This will help the traders to know about online trading and how it works. It will make sure that aware of the basics of the stock market.
  • Investor classic program- Here the investor will be able to know everything with a click of a button. It includes live stock prices and how to make money against share purchases etc. With this, there will be instant order execution. 
  • Comprehensive portfolio management services- Know that portfolio management services have two key products- fundamental investment and technical analysis. Fundamental investment is invested in an asset with strong fundamental research. Technical analysis is linked with investment in derivatives. 
  • Charges- While choosing the online trading platform or Demat account, make sure to know the Demat account charges and price point of the DP. These charges might be a significant part of your overall returns, so you must be aware of what DP does not charge for opening a Demat account and what charges a high fee.

So above are some of the points highlighting what points you should look for while selecting the best Demat account in India. You can easily Demat account login into the online trading platform for free. If you are looking for the best online trading platform providing the best facilities, you should visit ‘Sharekhan’. It is one of the best platforms as your annual maintenance charges will be adjustable against your brokerage.