A demat account is essential when you are thinking about starting your trading journey. Choice Broking demat account opening is a simple process and gives you a chance to take your first step in the stock market.
Over the years, Choice Broking has managed to gather a trusted client base. So let us have a look at the Choice Broking Account opening so that you can also avail the various benefits of the broker.
So, let’s begin.
Choice Broking Demat Account Opening Process
We are used to getting everything at the convenience of a single click these days and Choice Broking follows the same path by providing the traders an option to open the demat account online.
Not only is this method is convenient but can also be completed in a few steps. Let us have a detailed look at the process of Choice Broking Demat account opening.
Open the Choice Broking official website and click on Open demat account.
To simplify the process you can open a demat account for FREE online!
After entering the basic details like name, phone mobile, and city you can move forward to the next step.
You will now see a window where you will have to enter your PAN card details and your date of birth.
The next step is to enter your mobile number and email ID. After this, you will receive two different OTPs on your mobile number and your e-mail address as well. On verification, you will be redirected to another window.
Now enter the basic details like Name, Gender, Marital Status etc.
Upload your income proof along with other documents essential for opening a demat account.
Now you need to enter your aadhar card as proof of your address, bank account details, photograph, and signature. You can easily get these documents from Digilocker or can process the whole verification manually.
Now, select the AMC plan of your choice. (we will discuss the different AMC plans in the upcoming section)
After this, you can review and verify all your details.
Click on proceed and then you will see an option of e-sign. You can do this either via aadhar or e-mudra in the case if your aadhar card is not linked to your mobile number.
After this, you will be redirected to the NSDL website. Enter your aadhar card number and you will receive an OTP.
After the verification of this, your account will open successfully.
Although, the online demat account process is very simple and convenient, there are still some traders who look at the offline method as well.
A relief for them is that Choice Broking also allows you to open an offline demat account.
You can easily download the demat account opening form from the official website of Choice Broking. After this, you need to send this to the Choice Broking’s address along with the necessary documents.
Once your documents are verified, your demat account opening process will be successful. You can also open your demat account easily by entering your details here.
When you go to a party or sign up for joining a club, you pay an entry-amount. This is the same case with the demat account opening as well. When you open a demat account with your preferred stockbroker, there is a chance that you will have to pay an account opening fee.
When you open a demat account with Choice Broking, you get a benefit. There are no account opening charges for the Choice Broking demat account and you can open it for free.
There are some maintenance charges that are levied by a stockbroker for the maintenance of your demat account. These charges are known as AMC or account maintenance charges.
Choice Broking has the option of three AMC charges plans which are given below. As per the basic plan you need to pay the AMC fees of ₹200 per year from the second year onwards. Other than this there are different payment plan that gives you the option to waive off your account maintenance charges.
₹3000+GST (Refundable,this AMC is refunded to the trader once he/she decides to close their account)
Choice Broking Demat Account Opening Time
You can choose a plan according to your convenience and reap the benefits.
The next thing that a trader often wonders is the time that will be required to open a demat account and its activation. If you are opening a demat account online, and have your documents handy, you can open the account instantly.
After the successful verification, it usually takes 4 hours for your demat account to get activated.
If you are opening a demat account offline, then your account will be opened after 2-3 business days of receiving the form and all the required documents.
Choice broking demat account opening process is a simple and convenient one. You can open your account free of cost and then reap the benefits of low brokerage and also great trading platforms.
Also, the broker offers you additional benefits with Choice Broking refer and earn where you can earn by referring the your friend for demat account opening.
So open your demat account today and start trading!
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