Trading in the stock market seems like a lucrative opportunity to earn some extra bucks. Also, given the way India’s economy is growing, it may well be the right time to start investing some money in the stock market.
In order to trade in the stock market, you require two types of accounts – Demat, and Trading. You can get these accounts opened with any stock brokerage that are SEBI authorized. In today’s times, discount-based stock brokerages have sprung up, where you don’t have to worry about paying exorbitant mark-up fees. 5Paisa.com is one such discount stock brokerage where you can open an online demat account.
Let’s have a look at how to open an online trading account, and the terms and conditions of 5Paisa.com.
Types of Accounts
You can open 2 types of accounts with 5Paisa.com –
- All-in-1 Account: This type of account gives you access to demat, trading, and a mutual fund account.
- Mutual Fund Account: If you opt for this one, you can only invest in mutual funds. This account is free.
How to open an account?
You can open an account in 5Paisa.com by following 5 simple steps -
- Submit Personal Details: You don’t have to fill extensive details. Simply fill in your PAN Card number, Aadhar number, and Date of Birth. Rest of the information will be auto-populated based on your Aadhar card data.
- Fill in Bank Details: Fill in your bank account number and IFSC code. This account will be linked to your Demat account and Trading account. Whenever you want to buy shares, you can transfer money from this bank account to your trading account.
- Upload some documents: In order to verify your identity, you will have to upload scanned copies of the following documents –Pan CardAddress Proof – can be a driving license, electricity bill, gas bill, phone bill etc.Cancelled ChequeITR / Salary SlipSignature
- Pay the Account Fees: You will have to pay Demat account opening charges of Rs. 650. You can also add some more money, which will be used towards the trading of shares.
- Sign Up: You can do an e-signature to complete your account opening, and digitally authenticate the same. In case you don’t have an Aadhar card, you will have to manually sign and submit the form.
Reasons to open an account with 5Paisa.com
- Flat Fee: Brokerages are notorious for charging a high mark-up on every transaction. But 5Paisa.com has come up with a new model that charges a flat fee of Rs. 10 on every transaction.
- Mobile App: Trading is as simple as swiping your fingers on your mobile screen now. With the 5Paisa.com app, you can trade at your own convenience, regardless of where you are.
- Free AI based suggestions: 5Paisa.com has come up with an AI based technology that sends you stock recommendations that are tailored to your goals, and designed according to your portfolio.
What are you waiting for? Sign up with 5Paisa.com and start making the best of the rising stock market!