Who doesn’t like freebies? For a trader, if you get the chance to open an account without paying any fees, wouldn’t that bring a big smile to your face. So here comes a question can you have a Demat Account for Free?
Here the thing that one needs to know is that the Demat account is provided, maintained, and operated by depositories i.e. CDSL and NSDL.
Whatever charges are imposed on your Demat account is decided by these depositories, but further, the registered stockbrokers are free to charge their clients accordingly in order to increase their benefits.
So, when it comes to opening a demat account for FREE, it totally depends upon your choice of a stockbroker.
Without any further delay let’s move ahead with the opening process, charges associated with opening a demat account for free.
Free Demat Account Opening
To open a demat account for free what is more important? To choose the stockbroker offering the best services at zero cost.
Here zero cost is only limited to the account opening. Other than this, there are many other charges like AMC fees and trading charges, that one must consider and compare before opening an account with the stockbroker.
Stockbrokers are of three different types (full service, discount, and bank-based stockbroker) in the stock market that are categorized on the basis of products and services they offer.
Depending upon your trading knowledge, experience and requirements you can choose the stockbroker that meets your maximum requirements.
Now whichever stockbroker you choose, you can open a demat account online.
Open Demat Account Online Free
In this tech-savvy world where every other individual is used to technology and therefore finds it convenient too to open a Demat account online.
So, if you are the one looking for free Demat account then here are the steps to be followed:
Here not only the broker offers zero account opening fees but also provides you the relaxation by charging you the AMC fees per month. Among many different stockbrokers, there is a broker like Paytm Money that does not charge any annual fees.
Apart from this is there any other stockbrokers charging no fees for maintaining an account?
As discussed in the table above, there is a discount stockbroker charging no fees for maintaining an account but there are other full-service stockbrokers as well that come up with some plan that offers the relaxation of zero AMC charges.
For example Motilal Oswal. The broker charges the AMC of ₹999 per annum but if the investor maintains a required margin of ₹10k-₹25k then you can avail of the benefit by paying the AMC of ₹199 per annum.
Apart from this, the investor maintaining the trading margin of more than ₹25k can have an advantage of a free Demat account as no AMC is charged on them.
Other than this there are other stockbrokers who charge zero AMC by charging you one-time refundable fees or by under different offers and plans.
Apart from the above mentioned full-service and disocunt brokers, there are certain banks offering the brokerage services. Most of these stockbrokers offers the demat account for Free and further provides multiple benefits in terms of:
The stockbrokers mentioned above provide you demat account for free and some of them also charge no AMC fees, but what about the trading experience.
Does the stockbroker provide the best experience to their investors through their app and above all do they provide the app for FREE?
Once you open an account with any of the stockbrokers, then you can reap the benefit of trading using the trading platform provided for free. However, there are specific features of the application that is available at a specific cost.
This generally includes:
Algo trading software
Advanced Option Chain
No doubt all these features make it easier for you to trade and invest in specific stocks and thus prove to be worthy enough too. But is there any free Demat account broker offering the maximum features of the app without charging any additional money?
Yes, there are the details of which is given in the table below:
Opening a demat account for free comes up with different benefits like:
Security of shares.
Low brokerage to trade in different segments.
Brokerage credits to active traders.
More exposure to the share market through trading app.
Keeping you updated with the market movements by providing real-time data.
Most of the stockbrokers offer you free training sessions to make it easier for you to understand the market basics and trends.
Other than this you can reap the advantage of earning money by referring a demat account services to your friends or family. Here stockbrokers come up with different plans and offers for its clients where you can start making money right from your first referral.
The amount ranges from ₹250-₹1000 or more that depends upon:
Number of referrals.
Number of referrals who are trading actively.
Total brokerage generated by referrals.
Ofcourse this referral varies from broker to broker, and hence to open up the opportunity for you, A Digital Blogger offers a referral model where you start earning the cash reward right from your first referral, irrespective of whether the referral is trading actively or not.
Opening a Free Demat Account with these brokers does not mean that you won’t be able to reap the leverage offered by the broker in different segments.
In fact, by offering a free Demat account the broker opens a gateway for potential investors to get into a trade and to earn a good return on investing their hard-earned money.
So, choose the broker with whom you want to do trade and start making money in the stock market.
In case you are looking to open a free demat account, just fill in some basic details below and a callback will be arranged for you:
For more Share Market Education, check this:
If you wish to learn more about the share market, here are a few references for you: