How to Open a Trading Account with an Online Stock Broker ?
How to Open a Trading Account with an Online Stock Broker in India?
Opening a trading account with online stock brokers can seem daunting.
However, online stock trading has made investing much easier with time. The stock market has wide-ranging appeal and can provide you with a very tempting potential to make money.
The online stock broker is the new generation financial hub. Trading stocks online offer you a quite different trading experience as compared to a full-service broker. The online stock broker may have more tools and features but the things you need to open a trading account are the same. Here is a stepwise guide on how to open a trading account with an online stock broker:
STEP 1: Arrange the documents required to open an account with Online Stock Broker
Scan copies of the following documents are uploaded in the Account Opening portal -
● PAN Card
● Address Proof (preferably Aadhaar Card)
● Bank Proof (Personalised Canceled Cheque/ Latest Bank Statement)
● Financial Proof (Required for trading in the Derivatives)
● Signature on a plain paper
STEP 2: Click on the account opening link on the portal of the Stock Broker and fill in your contact details.
STEP 3: You will be sent an OTP as per the contact details entered by you. Fill in the OTP, move forward, and fill in the required details like your PAN and Aadhar Number.
STEP 4: The system or portal will automatically fetch all your details based on your PAN and Aadhaar Number. Verify the details and move forward.
STEP 5: Select the exchanges you wish to open an account in, and the brokerage plan (some online stock brokers have multiple plans available).
STEP 6: You are then prompted to open the camera of your system/smartphone to capture your photograph for In-Person Verification.
STEP 7: Now you have to review your KYC form and e-sign it to complete the process.
After completing all the steps, you receive an email with details of the account opened with the Online Stock Broker. And, now you can start trading.
Hope this stepwise guide helps you in opening your trading account.
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