Where To Open A Free Demat And Trading Account?
First, a word of caution. Do not open an account at a broking firm just because it offers you a free trading and demat account.
The most important thing while opening a demat and trading account is to look for other charges, including the brokerage charges. This is because a bulk of your money would go in brokerage, if you are a regular investor and a daily trader. Here is a list of firms that open a free trading and demat account. This may not necessarily be an exhaustive list.
Free Demat And Trading Account
The entire broking business has become very competitive, it's therefore very important to first go by broking charges and then opt for a free broking and demat charges.
Here is a list of broking charges and industry experts say that Zerodha is unbeatable when it comes to that, since its brokerage is best in the business.
Here is a quick comparison of broking and demat charges for our discerning investors.
Things To Note in Case of Flat Brokerage Fee
There are many things that you should note in case of flat brokerage fee. Do not expect too much in terms of service. For example, several of the services would be charged.
For example, in many cases there would be a charge levied if you want a physical contract. Many of these flat brokerage fee brokers charge Rs 50 for this. If you want to withdraw your funds there there is a cheque withdrawal charge of Rs 30 that would be levied as courier charges and in some cases it could be more.
Where to Open a Trading and Demat Account?
The answer to the above question would purely depend on you. For example, if you are a daily trader, it is best to open an account at a fixed brokerage charging firm.
For example, it is best to open an online trading account with a fixed brokerage firm like Zerodha or RSKV. They are not a bad proposition for delivery as well, if you are regularly buying and selling for delivery.
Some of the broking charges from private sector or PSU banks was significantly higher in the last few years. However, due to competition they have now bought it down significantly in the last few years.
Those who already have an account with some of these private sector banks can choose them.
However, their charges are still high when compared to other brokerage firms. All in all where you need to open a broking, demat and trading account would purely depend on convenience and the volume that you buy and sell everyday.
Tags : online trading account, demat account, trading account, share trading account, stock trading account.
Source from : https://medium.com/@rode_sumit/where-to-open-a-free-demat-and-trading-account-5c7f8660d33a