Best Demat Account for Beginners

Are you looking for the best demat account for beginners in India ?

If you are about to enter the stock market and participate in the buying and selling you need to undergo some rumination. You can look forward for best demat account for beginners in India. It will let you kick start your trading occupation right from the beginning. We are here with the intent of alerting people and assist them to take a progressive approach. If you are a tech savvy, you can avoid tedious state of trading later on. Sometimes people might suffer fraud activities if they do not handle accounts diligently. A demat account is a safe way to held your shares. It effectively maintains the track of the stocks. You can withdraw them anytime you need. A demat account opening fee is set negligible by a few of brokers. The demat maintenance fees is collected on a yearly basis.

Short note on demat and trading account for beginners

When you place buy or sell orders in the stock market that is done with the help of trading account. Demat Account can hold your shares purchased in the electronic format. The dematerializing of shares into digital format instead of physical paper avoids delays and risks of misplacing the financial assets. The demat account functions similar to the bank, the difference is here the shares bought are deposited in, and the shares sold are taken from.

Being ignorant to some of the recent changes in the industry some of the traders have to pay the high maintenance. Some traditional brokers tempt users by offering free demat maintenance for a year and ask high fees later on. So we suggest you to eye for a best demat account for beginners in India. That can provide you the transparent cost structure. Mostly beginners do not read the terms and conditions implied by the broker and regret later on.

Get into the trading, explore the leading demat accounts for beginners in India

best demat account for beginnersOne can spot the era of deep discount broking is making rapid progressions. That is influencing the presence of traditional brokers in the industry. Though a few dozen brokerage firms will make it to the end still the concept is proved beneficial already. The stock brokers need to handle things carefully by reinventing and transforming the current trading platforms.

As per the recent data, the best demat account for beginners in India 2017 and 2018 has fallen under the discount broking category. The brokerage firms that are providing demat facilities at lower prices are gaining pace. Traders prefer quality service within a better pricing structure nowadays. ICICI Direct demat account is one of the well known brokers in the industry. It favors beginners to trade in a variety of financial segments. However, it fails to give such access on better prices. The brokerage it imposes for the same has turned many beginners in India to head forward towards discount brokers. The heavy client base of full time brokers like HDFC Securities, Kotak Securities etc may catch your attention. But you should be smart enough to not just bend on the basis of good client base.

Instead look for user friendly services that may aid the trading in a much better way. It is not necessary that you need market tips and recommendations every time you trade. Therefore, come prepared in market and save a lot on brokerage. You can also take a helm and take intelligent decisions just by a  wise approach.

 

10 Best demat Account for beginners in India 2019

Broker NameDemat Account Opening ChargesAccount Maintenance Charges(per year)
ICICI Direct Demat account100500
SharekhanFree450
Wisdom CapitalFree999+GST (Lifetime charges)
Motilal Oswal (MOSL)Free400
5paisaFree400
zerodha100300
upstox150150
Kotak Securities100500
SBI securities850400
HDFCFree750

 

10 Best Trading Accounts for beginners in India 2019

Broker NameTrading Account Opening ChargesTrading Account Maintenance Charges
ICICI Direct Demat accountFreeFree
Wisdom CapitalFreeFree
SharekhanFreeFree
Upstox150Free
SAS Online200Free
zerodha200Free
Angel BrokingFree300
Kotak Securities750Free
5paisa650Free
SBI securities850Free

 

Searching for the best demat account for beginners in India includes:

Being a beginner, you should be aware of all the important factors:

You can check the brokerage charge, demat maintenance charge, demat transaction charge. Although most of the discount brokers do not charge for opening an account still you can also consider demat account opening fee. Check if additional charges such as advisory option, future trading fees etc are also imposed.

  • Latest technology driven product is another important source of profitable trading. With the effective software, one can avoid unwanted troubles.
  • Customer centric facilities add extra value to brokers’ reputation.
  • Easy and convenient trading with expert guidance can do wonders.
  • Before selecting perfect demat account for yourself, get to know the broker well other than the cost structure.

 

Simple steps to follow for opening best demat account for beginners

The Process of Opening a Demat Account

  1. Get a right depository participant after all your necessary considerations.
  2. After that, fill an account opening form and submit all the demanded documents related to your identity, residence proof along with passport size photographs.
  3. PAN card is must for opening a demat account.
  4. After all your submissions, you will get the document containing T&C in addition to demat related charges.
  5. After in-person verification for opening a demat account, DP verifies the documents provided with the application.
  6. When the final approval is given, you get the account number and password to access the account online.

If you are just entering in the stock market, you can initiate by investing small amounts. There are many demat accounts, try to get the best demat account for beginners. You can consider the important features with the help of social platforms also.

 

Benefits of having best demat account for beginners in India

The demat account availability has made the trading very convenient. Handling of stocks is not an issue now. Today most of the traders are relying on the online stock trading.

  • Simplified way of maintaining your stocks.
  • No more delays, as the quick transfer of securities is possible.
  • The transaction cost also falls within a range with leading discount broker.
  • Problem associated with the theft, fake securities etc are alleviated with paper less technology.
  • No stamp duty is applied on transferring the securities.
  • Any minor change like address change is managed by the DP that saves the time from any updates with associated shares on each company individually.

 

Parting note on best demat account for beginners

We feel great by sharing the importance of the right demat account for starters in stock trading. It is an easy and safe way of keeping your financial assets for the right time. Any bonus/right shares will be quickly credited into your account. Now, enjoy the seamless trading without the risk of losing or misplacing the shares. You do not need to pay for the stamp as the electronic storage counter maintains your shares library.

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