The shift in the era of a physical certificate to the electronic format of trading in shares and securities have been growing at a faster pace. Many broking or discount house brokers have started providing the services for free of cost for the opening of Demat account and has reduced the transaction cost. The process is very simple and is a secure process because all the transactions are traded in digital format. Some of the companies provide these types of services through online or mobile phone app.
The firms that offer Online Demat Account are
- Wisdom Capital: – the facilities provided for trading and Demat account is free. The transaction takes place online. The wisdom capital plans according to the customers who are regular and professional traders which helps in investing/trading in Equities, Mutual Funds, Currency, Commodities, Futures, Derivatives, etc. These help in saving brokerage costs.
- SAS Online: – the discount brokerage firm provides the services for futures, options, currency at BSE, NSE and MCX. The basic aim is to provide better/quality customer services and competitive brokerage facilities to the clients. The fee is charged for opening Demat account i.e. Rs 200 and also charges Rs 9 brokerage per trade.
- ICICI Direct Demat Account: – ICICI is online trading security. The Demat account is linked with the trading and bank saving account. The account is open for free and no annual service charges up to 1 year. It helps to manage the online savings account as well as trading account and interest is earned on unutilized money. The shares can be traded at BSE or NSE, Currencies and investment can be made in IPOs, Mutual Funds only through the online channels.
- SBI Securities: – SBICAP Securities Limited is a sub-division of SBI Capital Markets Ltd. The trading of securities can be done at BSE or NSE. The shares can be purchased and can be sold on the same day. These provide an online trading product. Both Indian Residents and NRIs can invest in Shares, Mutual Funds, IPOs through the online channel.
- HDFC Securities: – it is a sub-division of HDFC Bank. The trading can be done online or through mobile phone apps. The trading can be done at BSE, NSE, NDSL OR CDSL and can invest in IPOs, Mutual Funds, Insurance Bonds, etc. it also provides features in 3-in-1 which results in saving of time. To open a Demat account a fee of Rs 999 and annual maintenance is also charged.
- Religare securities Ltd. (RSL): – is a wholly-owned subsidiary of Religare enterprise. The services are provided both through online and offline medium to the customers. It provides services of investing / trading in Equity, commodity, and currency. There is no fee charged for the opening of the Demat account, Trading account. But the annual maintenance fee is charged from the 2 years i.e. Rs 500.
The above broking firms provide the services of online Demat account for free or some charges fee. But the one should select the firm having a proper analysis of details and proper knowledge. So, the Demat account can be opened with them and it should be a user interface. No user or client should face any problem regarding opening the Demat account via online mode.